auction buyers premium- a short guide

Description

Auction Buyer's Premium is a term commonly used in the world of auctions to refer to an additional fee paid by the winning bidder on top of the hammer price or the final bid. This premium is typically expressed as a percentage of the hammer price and serves as compensation to the auction house or seller for facilitating the sale. The concept of a buyer's premium has become widespread in various auction formats, including live, online, and timed auctions.
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