Carrera GT

Outside of having some "little thing" rub you on the arm as you bid on your next collector edition Camaro, does the "buyer's premium" still really exist today? Do bidders at the classic events or through Christies et al actually pay another five or ten percent? Do the sellers really pay ten or twenty percent to the auctioneers? Is the market still that "fat"?

Cheers,

Adam

hoffman912

if you want to see a car auction, watch the barret jackson auction on speed channel, (or better yet go to one of their auctions!!). i believe they still have the buyers premium if i remember correctly from the last auction.

tchanson

Adam,

I don't know of any of the major (auto) auction houses that charge a premium as high as 20%, but all charge a buyers premium of some sort, either flat or on a sliding scale based upon the final bid/sale price of the vehicle. B-J charges a flat 10%. Sellers typically pay a consignment fee.

I don't think that I would characterize that as being a "fat" market, but instead a legitimate fee for the considerable effort/expense of staging and promoting a large event, paying salaries and the legwork involved in bringing the right sellers and buyers together.

Tim