Buyer's premium (BP) is a percentage that is added on top of the final bid price. BP will be collected on every item sold on K-BID. The terms of each auction will notify you what BP percentage will be charged; most auctions on K-BID will charge a 13% BP with all NON-credit/debit card payments receiving a 3% discount. Sales tax will be calculated based on the entire price of the item (bid price + BP).
|Credit or Debit Card Payment||Cash or Check Payment|
|Final Bid Price||$10.00||$10.00|
|Buyers Premium||$ 1.30||
|Total before Sales Tax||$11.30||
Buyer’s Premium – Personal Property
A 13% buyer’s premium is collected on every lot purchased on the K-BID.com website; buyer’s premium is capped at $2,500 for individual lots. The sales price of a lot is equal to the winning bid + the buyer’s premium. The buyer’s premium is subject to sales taxes.
Buyer’s Premium – Real Estate
The buyer’s premium on real estate auctions is not capped and varies by auction. The buyer’s premium for a real estate auction will be listed in the terms for that auction.
Credit card payments are not accepted for more than $5,000; unless otherwise stated in the auction terms.