Quote:
Originally Posted by Peter_Spaeth
People have been complaining about BPs since I started reading this board. And I don't know why. It's a non-issue except for consignors. If consignors don't want to give up 20 percent to PWCC and would rather give it up to an AH, I get that. But it's just a math calculation for a bidder.
Maybe outrage is an overstatement for this thread, but posters did state the 20 percent BP would cause them not to bid. And I'm like, why?
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I agree. All premiums are paid by the consignor. If an auction house offers 19% buyer's premium all that means is that the consignor gets 1% more than usual.