How many of you will pass up on an item you want, because of those auctions that have "Buyer's Premium?"

[3arod13]

How many of you will pass up on an item you want, because of those auctions that have Buyer Premiums?"

I have many times. I just have a difficult time paying extra money for paying a 'Buyers Premium."

BUYER'S PREMIUM: The Buyer's premium is a service fee normally charged in live auctions. Winning buyers must pay an additional amount to the seller based on their bids

What's the deal with that anyway?

Tony

[commando]

Re: How many of you will pass up on an item you want, because of those auctions that have "Buyer's Premium?"

I'm sure that most bidders, including myself, simply factor in the buyer's premium as part of the cost. If I'm willing to spend $500 on a jersey, I know I can only bid it up to $420 if there is a 20% buyer's premium.

Obviously, buyers don't like them. As much as people criticize eBay, at least it's easy for the buyer to know what his exact cost will be if the seller has stated the amount he'll charge for shipping.

[Dewey2007]

Re: How many of you will pass up on an item you want, because of those auctions that have "Buyer's Premium?"

Seems to me this is the way these auction houses make their money. They get a 15-17% buyers premium fee and take the same percentage from the seller. For a high selling item that's a nice chunk of change their making.

I've only bid in one auction and this buyers fee definitely played into how much I was willing to bid on the item and will continue to factor into my willingness to bid on future items.

[David]

Re: How many of you will pass up on an item you want, because of those auctions that have "Buyer's Premium?"

Depends who is the auctioneer. When looking at a high end item, am I going pick a zero feedback seller over Robert Edward Auctions because REA charges a premium? Of course not. I'm going to pick REA.

If the eBay premium seller is someone I don't know, then premium will make me think twice before bidding.

[geoff]

Re: How many of you will pass up on an item you want, because of those auctions that have "Buyer's Premium?"

Never bought from a Auction house before and most likely never will.Because the buyers premium is always to high.I know they need to make money also to stay in Business but thats just me.

[joelsabi]

Re: How many of you will pass up on an item you want, because of those auctions that have "Buyer's Premium?"

When I bid on auction i also consider that the auction next bid needs to increment a certain percentage. so i figure what i think its worth or what the high bid may be and bid an amount that would make the next bidder overpay. if i lose so be it.