The auctioneer by agreeing to hold a sale becomes the agent of the seller. They are supposed to try to get the highest price possible for the seller.
When the auctioneer charges a buyer premium they in a sense become the agent of the buyer. They in turn should be trying to get the cheapest price possible for the buyer.
When you bid at such an auction you are, knowing that there is a buyers premium, hiring the auctioneer to act as your agent.
The whole think smacks of dishonesty with a huge conflict of interest to me.
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Today's Featured Article - Chores - by Frank Young. The ceaseless passing of time! It is at once our friend and our enemy. It measures our progress and it makes us old. Like most features of our life, few things are all good or all bad, and most such judgments depend on our own perspective or viewpoint. In our particular hobby, we enjoy the nostalgic return to the days of our youth as we recreate many of the scenes that took place on the family farm that served as the stage for the first few acts of the play that is our live
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