Posted by Paul on August 22, 2014 at 08:29:26 from (70.197.200.73):
In Reply to: OT Estate auctions posted by Bill in Eastern WA on August 21, 2014 at 20:35:21:
Bigger auctions have lower percent, so it is somewhat negotiable.
I would expect around the 10% mark for here for that size auction, maybe 12%, perhaps more if they advertise more than normal - if you have rarer stuff that can be a good thing.... Or advertising on top of the commission, you decide how much you want it advertised is another way they go.
Buyers premium auctions are hated around here, a good auctioneer with a good farm consignment auction of tractors, wagons, combines for decades, went to buyers premium, and he sold household and shop junk is all this past year, think he had 3 tractors and some scrap iron for farm stuff is all. Really sad, I liked them, but I avoid buyers premium sales if I know about it. I didn't attend.
Some say its the same difference just bid less, but its the principle of the thing, if you get it you get it if you don't you don't, they are just wrong.
Anyhow, a buyers premium seems like less hassle to you, but it will keep some buyers away. It especially hurts a small odds and ends auction, its those casual auction attenders you want there to bid on that sort of stuff. The auctioneer represents you the seller, so you should be paying the fee, and make buying stuff easy and simple for people.
Bad checks and such should be on the auctioneer, not your concern, that is one of the services he provides. Unfortunately one of the reasons commissions have gone up, so many people are thieves these days. The auctioneer will screen people, ask for bank name, has list of bad people, and etc to deal with this. Not your concern.
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