It is a fee that is assessed on top of the hammer price of the item and is a percentage of that hammer price. Our base buyer’s premium is currently 17%. So for instance, if the hammer price of a lot is $100, the total price that you will pay for that piece is $117. Most, if not all, traditional auction houses charge this fee. Phone Bidding and Online Bidding have a nominal fee in addition to the base buyer’s premium.
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