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Posted By: Rob Dewolf

Matt,

I'm not sure if we're on the same page (and I should add that my example doesn't pertain just to Mastro Auctions). Here's an example that should make it clearer:

You consign a card to an auction house on which I'm the winning bidder at $100.

Based on a 20 percent buyer's premium and consignor's fee: I end up paying the auction house $120 and the auction house pays you $80.

So, yes, the auction house took in 40 percent of the hammer price, but I'm not sure about your reference to the buyer taking the entire 40 percent hit.

Rob