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Re: Auction strategy
The world as a whole misunderstands buyer's fees. Reading Wiki here will convince Joe Six Pack that indeed buyer's "pay" this fee to the house, because it shows up on their invoice. Note also, that nowhere does it even hint that the crafty Colonel Jessup's of the world back off their bids by the amount of the buyer's fee… -
Re: Auction strategy
....Knowing that the House is making 20% and the perception that a bidder is only paying one increment above what the next buyer was willing to pay, is a strong appeal to many buyers. For sellers, the wide exposure for their material and having the auction process select the highest buyer is often well worth the 20%. I…
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