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Tractor Talk Discussion Forum

auctions?

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KEH

02-06-2008 15:16:41




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I'll add to the comments about ebay tractor auctions, etc.
Now I haven't bought or sold anything on ebay yet, but I occasionally enjoy watching the action. What surprised me was one tractor dealer selling tractors on ebay and charging a 10% buyer's premium. I try not to buy things with a buyer's premium at local live auctions, and certainly not on ebay. The last tractor I saw this dealer sell did not have a buyer's premium listed, so maybe he saw the light. I did notice some antique furniture dealers wanting a buyer's premium also.

KEH

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dhermesc

02-07-2008 05:34:20




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 Re: auctions? in reply to KEH, 02-06-2008 15:16:41  
Fastest growing auctioneer in my area charges 10% buyers premium and a seller's premium ranging from 10% to 25% depending on the size of item. Link

They>Link currently have a contract with the state of Kansas selling all their KDOR seizures and state surplus.



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Mathias NY

02-06-2008 19:20:09




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 Re: auctions? in reply to KEH, 02-06-2008 15:16:41  
Unless I am mistaken, the buyers premium is typically used in place of a commission. I have never really understood why some people are so opposed to it. Either you want the item or you don't and it is in your price range or not.

Where people seem to get into trouble is not remembering that the actual purchase price is higher than the bid, but that is easily understood. Its all a game...



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Les va.

02-06-2008 19:26:09




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 Re: auctions? in reply to Mathias NY, 02-06-2008 19:20:09  
The auction co. wants you to think that the B/P is what they are getting paid but you can be sure that the seller is still paying a commission also!!!



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Mathias NY

02-07-2008 07:34:31




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 Re: auctions? in reply to Les va., 02-06-2008 19:26:09  
Probably depends on the auction company. The ones I am familar with only one or the other. When we have consigned items for sale at auctions with a BP, we get a check for the sale price.



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JMS/.MN

02-06-2008 16:37:58




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 Re: auctions? in reply to KEH, 02-06-2008 15:16:41  
Buyer"s premium simply means that the buyer is not paying commission to the auctioneer- he gets full sale price. BP covers the auctioneers commission.



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BILL MART

02-06-2008 17:03:03




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 Re: auctions? in reply to JMS/.MN, 02-06-2008 16:37:58  
Around these parts the seller still pays commission when there is a buyers premium. bill m.



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JMS/.MN

02-06-2008 18:35:19




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 Re: auctions? in reply to BILL MART, 02-06-2008 17:03:03  
That sounds REALLY nasty! So...who pays for the advertising in your area? Here, the auctioneer"s fee covers the advertising and clerking. Banks used to clerk for about 2%, but later the auctioneers did the clerking with their own staff.



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Amarillo Doug

02-06-2008 16:21:18




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 Re: auctions? in reply to KEH, 02-06-2008 15:16:41  
My 2 cents worth,I will not buy at an auction where there is a buyers premium because not only is the auction company getteing a comission from the seller on what he sells they are charging the buyer for the privlidge of buying the item.Double dipping as it is known.



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