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Articles with tag "hammer-price"
Commissions and Fees: Hidden Costs of Buying and Selling at Auctions
Participating in an auction can be thrilling, but the euphoria of winning a lot often gives way to surprise when you see the final bill. The price at which the auctioneer's hammer falls (the hammer price) is far from the final amount you will have to pay. There is a whole system of additional fees that significantly increase the final cost.
auction-school
#auctions#hidden-costs#buyers-premium+6
Auctioneer's Glossary: Estimate, Bid, Hammer Price, and Other Terms
Diving into the world of auctions begins with understanding the three concepts that underpin the entire bidding process. These are the pre-sale estimate, the bid itself, and the final price. Without a clear distinction between these terms, it's easy to get confused and make a wrong decision.
auction-school
#auction#auctioneer-glossary#estimate+6