I agree--the buyer has to and does factor the buyer's premium into the price he is ultimately paying for the card. When the premium is rising, as it has been for some time now, the seller simply nets less. He does, however, receive the benefit of the auction house's distribution network and publicity related to the auction, as well as the effort the auction house puts into depicting and describing the card, as well as often times the player himself (see Bill Goodwin's catalogues). As Barry correctly states, the auction house has to make a profit too.
Larry
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