Quote:
Originally Posted by quinnsryche
I'd like to chime in with a question & comment. I have never understood why a buyer's premium is attached to these type auctions. I have to pay an additional fee for the right to purchase an item? Where else in society does this apply?  I can't think of one. Say what you want about Ebay, at least it's a simple "pay what you bid" system. And 17.5% seems ridiculously high. If you want $117.50 (for a $100 card) just make the minimum bid $117.50. |
Unless the company is a non-profit one then the buyers premium is, many times,
the only profit the auction company makes. That is the reason for a buyers premium. It's business 101. A sellers premium is a different story but they still exist in some places.
edited to say I only read the first part of Barry's explanation. The 2nd line is basically what I said too...nothing like redundancy to get the point across
