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Who is responsible for the auction fees? Buyer or seller?
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depends on the auctions. Majority I know of you pay to put the car through."If I asked people what they wanted, they would have said faster horses." - Henry Ford -
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generally speaking, the seller pays from the sale. Usually a buyer doesnt have to pay. Salvage auctions tend to charge both ways. Ive heard of dealer auctions doing that too, or charging a buyer's premium. Mecum or however you spell it charges both parties."If I asked people what they wanted, they would have said faster horses." - Henry FordComment
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Drug/Forfeit auctions we only paid sales tax. I guess Tarrant County paid to have them sold.
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Going to one in Alabama and the guy is charging the buyers 12 percent. Seems backwards to meOriginally posted by Baron View PostComment
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While I agree, many times auctions that are open to the public will charge a buyer's premium.Originally posted by SSMAN View Post"If I asked people what they wanted, they would have said faster horses." - Henry FordComment
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Both buyers and sellers pay a fee. Most of the time the fee is fixed for a certain price range and goes up from there.Comment
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Pretty normal for all those Barrett Jackson, RM, etc auctions to charge 8-10% to the buyer AND to the seller. An auction house can make two grand selling a $10,000 car.When the government pays, the government controls.Comment
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Majority of the cars I send to auction we pay (seller)Comment
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