There is zero costs and zero fees, allowing all proceeds to go directly to the nominated charity. It costs nothing for a vendor to donate an item, service or experience to one of our Charity Benefit auctions. We like to be super transparent so everything from the percentage to the total price is calculated for you before having to commit to anything!
We drop the hammer on over 33, items every week! We bring big brands, surplus stock, salvaged or superseded items, rare and premium products to market. And the best part? A lot of the time, prices are decided by you!
Looking for additional support? Have questions you need answered? Our support staff are here to help you, simply click on an icon below to get in-touch with us. However, sometimes auction houses offer premium-free auctions. It's worth noting these are blips on the radar. You should definitely look for these special events since they can save you big bucks on high-end items. That said, remember that these are the exception rather than the rule. Look for auction houses that include the buyer's premium in their advertising.
That's definitely case if the auction house doesn't list the premium rate at all. Yes, that's sometimes the case. They also might charge higher rates for Internet bidders vs on-site bidders. This isn't always the case, so it's important to do some research. The real reason is auction houses can compete better vs. They make up for it by charging a buyer's premium. This allows the auction houses to get a larger market share. Conventional wisdom says that would be the case.
Yes, but the reasons are generally different. For example, they might use the fees to help cover the costs of the auction like advertising. This is a bigger burden for smaller companies.
Nevertheless, you can still shop around to find auction houses that offer lower rates for buyers. As a general rule larger auction houses charge higher rates. However, you'll generally be getting a better selection of auctioned items so it might be worth the higher costs.
Join Our Newsletter. In real estate auctions, the seller is responsible for paying for pre-auction appraisals, as well as advertising the auction. The real estate seller often negotiates some of these expenses with the auctioneer, and frequently negotiates some of these costs in conjunction with the setting of a buyer's premium. For example, a real estate seller may ask an auctioneer to set a buyer's premium at 7 percent rather than 5 percent in exchange for allowing the seller to forgo paying auction advertising expenses.
Just like any business, the fees associated with conducting an auction transaction are entirely negotiable between a real estate seller and the auctioneer. Often, the percentages vary based on the estimated price of a property and the condition of the real estate market. Lisa McQuerrey has been a business writer since In , she launched a full-service marketing and communications firm.
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