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How much of the 20%-24% BP does the seller receive ?   Seller pays 20%-30% to auction service for selling fees. Auction service gets 20%-24% buyer premium.  Seller gets 50% of what their item was worth. The auctioneer's charging the BP are all having a rough time paying expenses. Just do some research on most of them. Check their sales for the last year. Check their purchases for the last five years. Check their facilities. Want to sell your handmade mint lightning bolt at half price ? Give me a call. Maybe sellers at marble shows should start charging a buyers premium ? Wake up America !

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Here's a small section of a list I found while checking out the definition of 'buyer's premium'.

Am I interpreting this correctly in that the changing 'threshold' rates could lead to a situation

where a potential buyer might feel obligated to outbid himself?

 

CHRISTIE’S BUYER’S PREMIUM SCHEDULE FOR ALL CATEGORIES EXCEPT WINE
(except where stated these rates are net of local applicable taxes)
 
Sale Room
Rate
 
Threshold
(as of 30 September 2013)
Threshold
(prior to 30 September 2013)
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New York

 
25.0% Up to $100,000 Up to $75,000
20.0% $100,001 to $2,000,000 $75,001 to $1,500,000
12.0% $2,000,001 and above $1,500,001 and above
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King Street/South Kensington
 
25.0% Up to £50,000 Up to £37,500
20.0% £50,001 to £1,000,000 £37,501 to £750,000
12.0% £1,000,001 and above £750,001 and above
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Paris

 
25.0% Up to €30,000 Up to €30,000
20.0% €30,001 to €1,200,000 €30,001 to €1,200,000
12.0% €1,200,001 and above €1,200,001 and above
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Amsterdam
(all inclusive rates)
 
30.25% Up to €30,000 Up to €30,000
24.20% €30,001 to €1,200,000 €30,001 to €1,200,000
14.52% €1,200,001 and above €1,200,001 and above
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The earliest auctions I attended had a buyers premium of 5% but it went to the seller to help offset their fees.  That was a while ago.  The fees have absolutely gotten rediculous.  

The rich get richer and the poor just get screwed

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On ‎3‎/‎17‎/‎2016 at 10:56 PM, lstmmrbls said:

The earliest auctions I attended had a buyers premium of 5% but it went to the seller to help offset their fees.  That was a while ago.  The fees have absolutely gotten rediculous.  

The rich get richer and the poor just get screwed

I always heard that statement as "the rich get richer and the poor get pregnant."

Increases the government subsidies.

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21 hours ago, moremarbles4me said:

I think a auction with a buyers premium always means less money for the seller. Everyone I know deducts the buyers premium from their bid prior to placing their bid.

Charles

 

Example: I recently bought an item from 22BP for $650. with BP my cost was $793. Buyer after SP would have gotten about $500. 22BP made $286 on the transaction (not counting shipping and packing charges.

The sad part is I had offered the seller $700 for it before he sent it to 22BP. He turned it down because 22BP promised him at $1200-1500 sale price.

Seller made less money. I spent more money. 22BP got paid on both ends. Amrica. Got to love the land of opportunity and byers premiums.

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