Posted by farmer boy on February 21, 2009 at 18:00:38 from (206.80.247.11):
In Reply to: Re: Auctioneers posted by Randy-IA on February 21, 2009 at 17:48:40:
Buyers Premium is just a way to get more of your money. With a 10% buyers premium you pay what you bid plus 10%. If you bid $750 on a haybine or something then it's going to be $750 + $75 = $825. If your sharp you can keep up on what your going to pay on the end but you have to be quick. There are still lots of auctions that don't use them but they are becoming more common. Some places only use them on certain things. One place around here will use them for tools and such but not for the bigger stuff.
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