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Originally Posted by ooo-ribay
Speaking of the (dreaded) “buyer’s premium,” I’ve always been unclear on how that works…..let’s say the pennant does do $5000 at an AH and the BP is 14%….buyer pays $5700. I always assumed the BP went to the AH and the consignor took the bid amount. No?
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At the most generic level, yeah kind of. There's also a fee that comes out of the sale price that goes to the AH. Never consigned with one, but the experts will tell you it's all negotiable and the better your items the more leverage you have. I will say, an AH with a 14% BP would be quite the find. Most are 20% plus.