I have a few choice words about buyer's premiums. First, know that the auctioneer charges some fixed fees and some percentage fees. For fixed fees, there is generally a fixed fee for conducting the auction. There are fixed fees for reserves. There are also fees for certain types of display, order of selling, etc. There is also a "no bid" fee for unsold items. Percentage fees can range from as low as 10% to as much as 35% around here. Most are dependent on the type of sale and the anticipated value. High value items might get a lower percentage than "dollar box lots."
Tacking on a buyer's premium to me is an outright rip-off. I hate them, and if I am at a sale that charges them, I adjust my bid accordingly. So, if I am willing to pay $100 for an item, I figure without the premium and tax what my final bid would be, and that is where I stop. Unlike a lot of bidders/buyers, I do not get "auction fever." I know what an item is worth to me, deduct any other charges from that price, and base my bids on that. Rarely do I go over my calculated price.
Personally, I think that auction regulations need to be tightened up and better enforced. I have encountered auctioneers that have you bidding against the wall, using shills, and otherwise ripping off the bidders. Buyer's premiums should be outlawed in my opinion.
Upload one or more videos to your post. Photo filesizes should be less than 300K and Videos, less than 2MB. Formats allowed are gif, jpg, png, ogg, mp4, mov, and avi. Be sure to use filenames without spaces or special characters, and filetypes of 3 digits lower case.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - An AC Model M Crawler - by Anthony West. Neil Atkins is a man in his late thirties, a mild and patient character who talks fondly of his farming heritage. He farms around a hundred and fifty acres of arable land, in a village called Southam, located just outside Leamington Spa in Warwickshire. The soil is a rich dark brown and is well looked after. unlike some areas in the midlands it is also fairly flat, broken only by hedgerows and the occasional valley and brook. A copse of wildbreaking silver birch and oak trees surround the top si
... [Read Article]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
