What does this mean?
What is the buyer's premium?
The buyer's premium is 21%.
Auction
- john elder
- Star Board Poster
- Posts: 8541
- Joined: Mon Sep 22, 2003 2:44 pm
Re: Auction
Al, it means that it will be like other langs auctions with on-line bidding; i.e., you win a reel for $100 and it will cost you $121, plus any shipping that is required.
Re: Auction
Thank you John, I have never done a Lang's Auction
-
- Advanced Board Poster
- Posts: 428
- Joined: Thu May 01, 2008 7:14 am
Re: Auction
Al,
Take a look at the shipping charges. If your total is $1000 or less, the shipping charge is 7% of the total. Therefore, your buyer's premium + shipping will be 28% of the total. Which means a $100 winning bid will be $128, $200 becomes $256, $300 becomes $384, $400 becomes $512.
Frequently, bidders, especially new bidders, don't take into consideration the cost of shipping their tackle.
Take a look at the shipping charges. If your total is $1000 or less, the shipping charge is 7% of the total. Therefore, your buyer's premium + shipping will be 28% of the total. Which means a $100 winning bid will be $128, $200 becomes $256, $300 becomes $384, $400 becomes $512.
Frequently, bidders, especially new bidders, don't take into consideration the cost of shipping their tackle.