The buyer's premium is the cost to bid on Aucto. In short, it's a percentage of the winning bid that is charged to the winning bidder in addition to the bid amount.
How Much is a Buyer’s Premium?
The buyer’s premium will be set between 10% - 18%. When preparing to bid in any auction on the Marketplace, you will be able to see the exact Buyer’s Premium (BP) listed underneath the sale details.
When you submit a bid on the Aucto Marketplace, a pop-up window will show your total bid amount including the Buyer’s Premium.
How Do I Calculate The Buyer’s Premium?
For example, if the winning bid for an item is $100 and the buyer’s premium is 15%, the final price for the item would be $115 ($100 + $15). Bidders should consider the buyer’s premium when determining their maximum bid amount, to ensure that they do not overbid on an item and end up paying more than they intended.
Do I have to pay the Buyer’s Premium?