Can sellers benefit from buyer's premium?
An example of an AI chatbot conversation about sellers and buyer's premium benefits.
Can sellers benefit from a buyer's premium in auctions?
Yes, sellers can benefit from a buyer's premium as it increases the total sale price, potentially leading to higher profits.
How does the buyer's premium affect the final sale price?
The buyer's premium is added to the hammer price, so it raises the total amount the buyer pays, which can benefit the seller.
Are there any downsides for sellers regarding buyer's premium?
One downside could be that higher premiums might deter some buyers, potentially reducing the number of bids.
What percentage is typically charged as a buyer's premium?
Buyer's premiums typically range from 5% to 20%, depending on the auction house and the item being sold.
Can sellers negotiate the buyer's premium?
Sellers usually cannot negotiate the buyer's premium, as it is set by the auction house.
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