Posted by Paul from MN on September 14, 2007 at 11:35:01 from (71.82.117.98):
In Reply to: Some auction questions posted by John N Mi on September 14, 2007 at 11:08:07:
I will never participate in an auction that has a buyers premium.
I can understand the entry fee at the auction in the other link though. That auction had dozens if not hundreds of collector cars. Nice enough and rare enough to be quite a show. With something like that which could draw a huge crowd of non-bidders I can see why they would charge an entry fee.
The auctions I attend are an entirely different affair. I've been to plenty where I was not there to buy, but got a number just in case and ended up bidding. In those cases the auctioner and the seller benefited more from the fact that I had a bidder number, and I would not have had a number if I had to pay for it. Again the type of auction makes a huge difference, I might buy an old tractor or implement on the spur of the moment because the price seems right, but I doubt that there are many mint 1965 Mustangs sold to folks who did not plan on bidding.
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