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I think "buyers premiums" are sorta gimmicky. Why not just charge commission to the sellers? Were there a lot of folks at the first auction?
They do charge the sellers, the buyers premium is a way to get more money.
Ever watch the Barrett-Jackson auction? That's how they have gotten rich so dang quick.
For smaller end auctions like this one, it is a way to help cover costs when they don't expect the items to go for big money.
I went to some of the williamson auctions last year, about 60-80 people were showing up for the gun portion.
And don't think they have not placed shill bidders in the audience.
And don't think they have not placed shill bidders in the audience.