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What is the Buyers Premium and what is it used for?
A Buyer’s Premium* equal to the greater of 5% of the Winning Bid Amount or $2,500 will be added to the Winning Bid Amount to establish the Total Purchase Price. It is used to help auction promotion costs and is standard practice in the industry.
* The required cashier’s check amounts vary per auction, please reference the specific auction details and terms and conditions for required amounts.
Auction 101
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