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What is Buyer's Premium?

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.  This percentage can be found in the terms for each auction, but is typically 13% for items that sell below $5,000 and 10% for items that sell above $5,000. Buyer's premium is capped at $1,000/item (real estate excluded). For example, a $100.00 winning bid will equal an invoice amount of $113 plus applicable sales taxes. 

Bid Price

Buyer's Premium Rate

Cap

0 - $4,999.99

13%

 

$5,000+

10%

$1000/item

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 Cards

Credit card payments are not accepted for more than $5,000; unless otherwise stated in the auction terms.

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