What is Buyer’s Premium?

The buyer’s premium is an additional charge on top of the winning bid amount that must be paid by the winning bidder.

For example, if your bid successful at winning a lot at $100.00 and there is a 16.5% buyer’s premium on that item, then you will pay a total of $116.50. Double check the auction details because buyer’s premium can vary from lot to lot!

A good way to check how much you will be paying if you win an item is by checking the Estimated Maximum Commitment that is calculated for you when you enter a bid amount prior to pressing the “Bid for …” button to confirm that bid.

We like to be super transparent so everything from the percentage to the total price is calculated for you before having to commit to anything!

Are you a details person? Find out more information on Buyer’s Premium by clicking here.

If you would like more help or information, just click below to contact our friendly team.

Scott Webber

Head Of Valuations

Accredited Senior Appraiser

Licensed Auctioneer

Qualifications & Affiliations

American Society of Appraisers (ASA)

Profile

Scott Webber is one of the founding partners at Lloyds and has worked for the company from its inception in 2004. In that time Scott has been a Licensed Auctioneer and Qualified ASA Valuer. Prior to Lloyds, Scott was a Farm Manager at Cubbie Station in Queensland, he has an earthmoving and agricultural background.

Scott is heavily involved in daily valuations. He acts for a wide range of clients and vendors including Insurance companies, Financiers, Insolvency Practitioners, Government branches, Joint Ventures and Alliances, large companies, and private individuals. Scott personally co-signs and oversees every valuation report completed by Lloyds. On average the Lloyds valuations department conducts over 500 appraisals per financial year.

Scott has managed many auctions and private sales, previously completing an approximate average of 400-800 traditional auction lots per week. Given that the Lloyds system is now online, traditional auctions are very minimal and are completed in a simulcast method, to comply with contracts we have with major government departments. Although Scott’s focus is currently Valuations, he still oversees and runs auctions weekly on a wide variety of assets from motor vehicles to very specialised process lines.

Scott offers a wealth of experience as an Auctioneer and Valuer in all aspects of Valuations and Asset Disposals.

Having headed disposal programs for Major Infrastructure Alliances, Joint Venture partnerships and Government projects throughout Australia, Scott has a wide range of experience in the Civil Construction, Earthmoving, Manufacturing and Agricultural sectors offering a “turn key” service from start to finish.

Mobile: 0439 765 669