What Is a Buyer's Premium? (Ours Is 5%)
If you've looked at any auction anywhere, you've seen the phrase 'buyer's premium' — and if it made you suspicious, you're not alone. Here's exactly what it means, with nothing hidden.
The short version
A buyer's premium is a small percentage added on top of your winning bid. It's how the auction house gets paid for running the sale: cataloguing, photographing, presenting and selling every lot. Your invoice is: winning bid + buyer's premium + HST.
What the numbers look like
- Win at $100 → $100 + $5 premium = $105, plus HST
- Win at $250 → $250 + $12.50 premium = $262.50, plus HST
- Win at $1,000 → $1,000 + $50 premium = $1,050, plus HST
Why ours is 5%
Many auction houses charge 10%, 15%, even 18% — at those rates the premium quietly becomes the biggest 'item' you bought. We keep ours at 5% because we'd rather have a room full of happy repeat bidders every Saturday than squeeze one sale. When you compare deals across auctions, always compare totals — a $100 win here costs less than a $95 win somewhere with an 18% premium.
The one habit to build
Before you bid, run your maximum through the real math: max bid, plus 5%, plus HST. If the total still feels like a deal, bid with confidence. That's the whole secret — and now there's nothing about our pricing you don't know.
Ready for this Saturday’s sale?
Registration is free, the buyer’s premium is just 5%, and the catalogue is already filling up.
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