Posted By:
Rob D.We'll never know the answer, but I always wonder how many people don't factor the BP into their bidding, i.e., if they want to pay $10,000 for an item, they'll bid that amount and then simply pay the BP, no matter what it is, and consider it the cost of doing business.
I'm the opposite. If $1,000 is my limit, I figure out what amount I can bid so that when the BP is added, I'm around that $1,000 mark.
My guess is that because BPs keep increasing, auction houses believe that many bidders don't let the percentage impact their bidding. But you'd think that consignors would realize that higher BPs at least have the potential of negatively impacting prices realized (before the buyers premium).