[jsfriedm]

Goldin has apparently increased their buyer's premium to 22%. I agree, of course, that all bidders should be doing the math and know the full cost of their bids, so I am not claiming deception or anything here. But given that 20% is pretty standard and the proliferation of auctions and auction houses should in theory make competition more intense, is anyone surprised that Goldin is raising, rather than lowering the buyer's premium? Do we think other auction houses are likely to follow? Does anyone expect this to hurt Goldin at all?