What are the fees associated with auction houses?
An example of an AI chatbot conversation about auction house fees and their implications.
What are the fees associated with auction houses?
Auction houses typically charge a seller's fee, a buyer's premium, and sometimes additional costs like listing fees.
Can you explain the seller's fee in more detail?
The seller's fee is a percentage of the final sale price that the auction house takes as commission for their services.
What is a buyer's premium?
A buyer's premium is an additional fee added to the hammer price, usually a percentage, that the buyer pays to the auction house.
Are there any hidden fees I should be aware of?
Yes, some auction houses may have hidden fees like cataloging fees, shipping costs, or insurance, so it's important to read the terms.
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