[Econteachert205]

On the topic of buyers premium:

I do agree that as a buyer you simply factor this into your final price before hand as a matter of fact. That still doesn't mean that as a buyer I don't think about the size of the buyers premium. For instance I would rather have a 10 percent buyers premium rather than 20. Before you tell me the item in the 10 percent premium auction will simply sell for 10 percent more in the final bidding, as a former worker at an auction let me just say NO, NO. I worked at a general antiques auction with a flat 10 percent buyers premium. I also went regularly to auctions in the same area with higher buyers premiums at 15-20 percent. The prices almost never correlated in terms of factoring in buyers premium, often the same item would sell for the same exact price in both auctions. Given that wouldn't you rather start out 10 percent in the hole as opposed to 20?