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BUYER'S PREMIUM
What is buyer's premium?
A buyer's premium is an industry standard fee charged to winning bidders at auction. It is usually a percentage of the final sale price but can also be a flat fee or capped fee. Buyer's premiums are regularly charged by many auction companies and marketplaces across many types and categories of auctions.
Why do we charge a buyer's premium?
Charging a buyer's premium enables us to invest in and enhance the bidder and buyer experience across the BigIron website and app. This enables us to offer more end-to-end services, continued investment in the safety and security of the platform, and new features to make the bidding and buying experience even more seamless. Continuing to improve our website and buyer experience results in more traffic to our auctions, more bidders, more bids, and a more competitive offering in the industry.
How much is the buyer's premium?
The buyer's premium can vary by auction and lot. The buyer's premium is displayed in several places as shown below.
The Lot Page by hovering over the Information Icon:
The Lot Page under the Buyer's Premium section at the bottom of the page.
Still Have Questions?
Our goal is to make buying and selling on BigIron a breeze. BigIron has an outstanding Customer Service Team so please contact us with any questions, comments, or concerns:
1-800-937-3558[email protected]