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How Much Do Auctioneers Charge?
How Are Auctioneers Paid?Jay Cash, Auctioneer & Real Estate Broker James R. Cash Auctions & Real Estate Real Estate Auctions • Estate Sales • Business Liquidations (See full list of Auctions on our website) Contact: Jay Phone: 615.785.8982 How Much Do Auctioneers Charge? MOST Auctioneers Are Paid On A Commission Basis. There is no industry standard or set fee. Commission Based - Some Auctioneers charge the seller a commission, which is typically a percentage of the sales price. For example, an auctioneer charging the seller 5% on the gross proceeds of a $25,000 vacant lot would earn $1,250. (3% Sales Commission would generate $750 on a $25,000 property) Flat rate - Some Auctioneers charge a flat rate for their auctioneering services. For instance, an auctioneer charging a $750 flat rate would earn that fee regardless how long the auction lasts or how many dollars worth are sold. Buyer Paid Commission, (BUYER'S PREMIUM) is a Fee paid by the buyer, typically a percentage of the final bid. This can range from as little as 1-2% up to 15-20-25%. THIS SHOULD ALWAYS BE DISCLOSED. A buyer’s premium allows an auction company to create an additional stream of income to cover costs associated with conducting an auction. The Buyer's Premium belongs to the seller, but ... more
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