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Sunday, 01 January 2017 | Muhammad Awais
ALLBIDS charges a Buyer’s Premium on the final price of all auctions. The Buyer’s Premium is a percentage of the winning bid price, which is paid to ALLBIDS as an auctioneer’s fee.
The Buyer’s Premium differentiates the auction market from the retail market as buyers are allowed to set their own price. The Buyer’s Premium may vary and usually relates to the extra costs that may be incurred when handling certain items.
So if the winning bid (Bid Price) is $50 and it has a 15% Buyers Premium, then the buyer will be invoiced $57.50