Shrinking Buyers Premium ?

[rjackson44]

my mom buys art at christies and mayor houses people that are buying that art dont give a shit ,,shes has money i dont ,, lol

[Lorewalker]

If the rules apply to everyone bidding and those rules are clear, then that person who is willing to spend the most money will win regardless of the buyer's premium and regardless if the bp declines as the bid price goes up. Not sure why separating the bp from the bid is even a thing.

[x2drich2000]

It seems most folks are forgetting auction houses care about how they can make any bidder pay more. This means getting the underbidder, not the winner, to bid as much as possible. How often are you right at your budget point? I'm sure we can all remember times where the current bid is a steal but the next bid is way over your max. Reducing the buyers premium reduces the total cost between bids. If bid + buyers premium is x and your willing to pay x + $100, and the next increment is going to be x + $200, reducing the buyers premium may get you to the point where it is within your budget to place that bid. If you win it, good for you. However, if you get outbid, the next bidder still has to top your bid and the auction house makes more money. If you can increase the number of bid spots between increments you should have more competition and reduce the number of lots that sell well below their market value.