Originally Posted by
zazenzach
youre categorically wrong in every concievable way on that.
and no, the auction houses dont charge the buyer anything. buyer bids $1k on an item, buyer pays $1k and recieves item. transaction over. auctioners make their cut based upon an agreed upon percentage of what the item sells for.
One should, IMO, be careful about strident declarations.
Here is a link to Skinner Auctions in Boston. And provision number ten in their conditions of sale info for buyers.
10. A premium equal to 23% of the final bid price up to and including $100,000, plus 20% of the final bid price from $100,001 up to and including $1,000,000, plus 12% of the final bid price from $1,000,001 and over will be applied to each lot sold, to be paid by the buyer as part of the purchase price.
Conditions of Sale | Skinner | Skinner Auctioneers