What are the fees associated with using an auction house?
An example of an AI chatbot conversation about auction house fees and related costs.
What are the fees associated with using an auction house?
Auction houses typically charge a seller's fee, which can range from 5% to 25% of the final sale price, plus a buyer's premium.
Can you explain the buyer's premium?
The buyer's premium is an additional fee that the buyer pays on top of the winning bid, usually around 10% to 20%.
Are there any other hidden fees I should be aware of?
Yes, some auction houses may charge for listing items, photography, or shipping, so it's important to read the terms.
How can I minimize these fees?
To minimize fees, consider selling items directly through online platforms or negotiating lower fees with the auction house.
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