Any Experience With This Auction House...?

Navy · 02-10-2003, 11:10 AM

A buyer's premium, actually a surcharge on top of the hammer price, is customary at most auctions. It is half of the revenue derived by the auctioneer. The other half is the seller's premium, a percentage deducted from the hammer price and retained by the auction house. Typically, seller's premiums may be negotiated for especially rare items but buyer's premiums are almost never waived or reduced.

Tom A

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02-10-2003, 11:10 AM	#5
Navy RIP Join Date: Jun 2002 Location: Dc 'burbs in Virginia Posts: 2,482 Thanks: 0 Thanked 16 Times in 10 Posts	A buyer's premium, actually a surcharge on top of the hammer price, is customary at most auctions. It is half of the revenue derived by the auctioneer. The other half is the seller's premium, a percentage deducted from the hammer price and retained by the auction house. Typically, seller's premiums may be negotiated for especially rare items but buyer's premiums are almost never waived or reduced. Tom A