05-05-2019, 08:21 AM
I take your point about the overall figure Tony but if their charge is as stated then it is an exceptionally high buyer premium for motor vehicles.
Silverstone: 12.5%
Brightwells: 10%
H&H: 5%
DVCA 10%
I can remember when buyer premiums did not exist. I think it was Bonhams was the first auction house to introduce it back in the late 1970s and then just about everyone jumped on the bandwagon. Granted auction houses must charge to survive but I don't like the buyer premium in principle and its effect is simply to reduce the amount of money that the seller will receive - because we all generally adjust our bidding to take account of it, especially on higher value items.
Silverstone: 12.5%
Brightwells: 10%
H&H: 5%
DVCA 10%
I can remember when buyer premiums did not exist. I think it was Bonhams was the first auction house to introduce it back in the late 1970s and then just about everyone jumped on the bandwagon. Granted auction houses must charge to survive but I don't like the buyer premium in principle and its effect is simply to reduce the amount of money that the seller will receive - because we all generally adjust our bidding to take account of it, especially on higher value items.