Posted by cj3b_jeep on April 05, 2011 at 11:19:20 from (131.123.222.106):
In Reply to: auction premiums posted by steve terplak on April 02, 2011 at 19:15:03:
The ones around here are usually 3% buyer's premium, waved for cash or check. So they're just trying to recoup their credit cost. I went to one a few weeks ago that was 10% for cash, 15% for credit. I pretty much told the auctioneer off. He was from Cleveland and he said that's the way it is up there. I told him down here it's different. If all of the farm auctions charged 10%, no one would go. Auctions are expensive to run, but how would you like to sell stuff for an 18% or higher commission.
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