What is a Buyer’s Premium
The Buyer’s Premium is a charge in addition to the winning bid that was placed on an auction item. The winning bidder is required to pay both the winning bid price plus the percentage of that price called for by the Buyer’s Premium.
It is charged by auctioneers to cover administrative expenses. The Buyer’s Premium goes directly to the auction house and not to the seller.
The auction house will tell you in several places if they are charging a Buyer’s Premium. It will show it with their auction description and with their policies.
Please contact the auction house if you have any questions regarding their Buyer’s Premium.