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.

Matt Kalinski

Head Of Valuations

Qualifications & Affiliations

American Society of Appraisers Candidate Member

Certified Practicing Valuer AVAA

Profile

Matt has been in the valuations space for many years and has extensive experience in the space across an abundance of various industries. He now leads the valuations teams for Lloyds Auctions with a passion for encouraging his team to set and achieve high goals and produce great results for the company whilst growing the team’s skills starting with a great culture and team mindset.