A study by Gerding, Rogers, Dash and Jennings at the University of Southampton (UK) titled “Sellers Competing for Buyers in Online Markets: Reserve Prices, Shill Bids, and Auction Fees” states, “Another popular type of auction fee is the buyer’s premium, which is paid by the winner of the auction and is a fraction of the closing price … note that a bidder with a given valuation will correct his/her bid … such that the bid plus the fee … is equal to the bidder’s valuation. Interestingly, since all buyers thus lower their bids, the seller ends up paying the fee even though the fee is originally charged to the buyers.”
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at
https://www.jamesspaethartwork.com/
He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt.
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