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AUCTION Catalog
D3385
CARS
THURSDAY 3RD APRIL 2014 AT 12NOON
68 INTERVIEW CLOSE, GARDENING SOUTH, VIC, 3175
GUIDE ONLY
Under Instructions from Major Banks, Finance Companies, Local Councils and
others
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How to fill out buyers premium 2
How to fill out buyers premium 2?
01
Start by logging into your account on the platform where the auction is taking place.
02
Locate the section or tab for the specific auction and click on it.
03
Look for the option to view or download the auction catalog. This catalog will typically have all the information you need about the items up for auction, including the buyers premium.
04
Find the details about the buyers premium in the catalog. It will usually be expressed as a percentage of the final hammer price. For example, if the buyers premium is 10% and you win an item with a final price of $100, you would need to pay an additional $10 as the buyers premium.
05
Note down the specific percentage or amount mentioned for the buyers premium. This information will be required during the bidding process.
06
When participating in the auction, ensure that you factor in the buyers premium when placing your bids. Make sure your maximum bid includes the additional amount for the buyers premium.
07
After winning an item, you will receive an invoice or notification indicating the total amount due. This invoice will include both the hammer price and the buyers premium. Review the invoice carefully to ensure accuracy.
08
Make the payment for the total amount, which includes the hammer price and the buyers premium. Payment methods and instructions will vary depending on the auction platform. Follow the provided instructions to complete the transaction.
09
Once the payment has been successfully processed, you can arrange for the delivery or pickup of the item you won in the auction.
Who needs buyers premium 2?
01
Buyers who are participating in auctions that have a buyers premium are required to pay it.
02
Auction houses and online platforms use buyers premiums as a means of generating revenue to cover the costs of hosting the auction and providing services to buyers and sellers.
03
The buyers premium helps support the infrastructure and operations of the auction house or platform, allowing them to continue facilitating auctions and providing a platform for buyers and sellers to interact.
04
Buyers who understand and are willing to pay buyers premiums can still find great value in auctions, as the prices of the items up for auction may still be lower compared to retail prices, even when factoring in the additional cost of the buyers premium.
05
Buyers who are interested in unique or rare items that are often found in auctions may find it worthwhile to pay the buyers premium because it provides them with access to such items that may not be readily available in traditional retail channels.
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What is buyers premium 2?
Buyers premium 2 is an additional fee charged by auction houses or online marketplaces on top of the hammer price.
Who is required to file buyers premium 2?
Buyers who participate in auctions or purchase items from online marketplaces where buyers premium 2 is applicable are required to pay this fee.
How to fill out buyers premium 2?
Buyers premium 2 is usually automatically calculated and added to the total amount due during the checkout process.
What is the purpose of buyers premium 2?
The purpose of buyers premium 2 is to cover the operating costs of the auction house or online marketplace and generate additional revenue.
What information must be reported on buyers premium 2?
Buyers premium 2 typically includes the percentage being charged and the total amount of the fee.
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