What is a buyer’s fee and how do I add it to my auction?

1. What is a buyer’s fee?

A buyer’s fee, or buyer’s premium, is an extra percentage added to the final (hammer) price. It is paid by the winning bidder and helps cover auction costs.

2. How do I add a buyer’s fee?

To add a buyer’s fee when setting up your auction:

1. Choose your auction template and go to the Auction Setup page.

2. Scroll down to the Auction Rules section.

3. In the Buyer Fee field, select an option or enter a custom rate.

4. Click Save.

3. How much should my buyer’s fee be?

You can choose from three main types:

• No additional fees

• Percentage fee – A common choice is around 9% of the final hammer price. You can adjust this based on your auction type and needs.

• Fixed fee – A set amount added to each winning bid, e.g., £50 per lot.

4. Will buyers know about the additional fee?

Yes. The buyer’s fee is clearly displayed in the Auction Rules on the auction page and appears on the final itemised invoice at checkout.