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.