Posted By:
Eric BrehmMaybe I'm missing some subtle psychological effects, but to me this is simple.
As a buyer, the only thing I care about is the size of the check I have to write when the bill comes, which includes the buyer's premium. Not to take it into account is simply foolish. It doesn't really matter to me how much it is -- if the BP were 100% (i.e. doubling the hammer price), I would simply bid 50% of the price I am willing to pay. Not many people would want to consign to a seller than charged that much, but as a buyer, that is not my problem.
As a consignor, the only thing I care about is the size of the check I receive after my item sells. That would be the total amount the buyer pays, less the BP and the seller's commission (if any), both of which the seller keeps. It doesn't really matter to me how much the BP and the commission are individually; only the sum of the two matters.