When you sell an item at auction, you will be responsible for a number of costs. These can include the cost of the auction house's services, advertising, and any commissions that may be charged.
The cost of the auction house's services will vary depending on the house, but typically range from 2-5% of the final sales price. Advertising costs can also vary widely, but are generally based on a percentage of the final sales price. Finally, commissions are typically a percentage of the final sales price as well, and are paid to the auctioneer by the seller.
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All of these costs can add up, so it's important to factor them into your decision when deciding whether or not to sell an item at auction. If you have any questions about these costs, be sure to ask your auctioneer before committing to sell.
Auction costs can vary depending on the type of auction and the item being sold. Generally, there are three types of auction costs: the buyer’s premium, the seller’s commission, and other miscellaneous fees.
The buyer’s premium is a fee that is charged to the winning bidder. This fee is generally a percentage of the final bid price and is paid by the buyer in addition to the purchase price of the item. The seller’s commission is a fee that is charged to the seller by the auction house. This fee is generally a percentage of the final bid price and is paid by the seller in addition to any other costs associated with selling the item at auction.
