Posted by mkirsch on August 22, 2014 at 05:44:53 from (72.45.143.81):
In Reply to: OT Estate auctions posted by Bill in Eastern WA on August 21, 2014 at 20:35:21:
Judging by the crowds at most auctions around here, most people aren't put off by the buyer's premium.
What the buyer's premium does is allow the auctioneer to charge you less. Instead of charging you 20%, he charges you only 10% and the buyer pays the other 10%.
Still, when you step back and look at it, it sucks that some douchebag in a cowboy hat takes 20% of what it took your folks' entire lives to build for yammering on a microphone for a couple hours.
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