Auction

Someplace just to show that reel collectors do have a life
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OCauto
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Auction

Post by OCauto »

What does this mean?

What is the buyer's premium?
The buyer's premium is 21%.
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john elder
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Re: Auction

Post by john elder »

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.
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OCauto
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Re: Auction

Post by OCauto »

Thank you John, I have never done a Lang's Auction
Ray Hencken
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Re: Auction

Post by Ray Hencken »

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.
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