As of 1 August 2023, the Buyer's Premium field will be made mandatory for all lots booked in an Online only Machinery sale.
What is changing and when?
The Buyer's Premium field, which is an existing optional field, will be made mandatory when the following applies:
- This applies to all lots in online only special sales that are booked from 1st August 2023 onwards.
- This applies to all lots created and listed in AuctionsPlus Fortnightly Machinery sales, from 7th August 2023 onwards.
Buyer’s Premium field will be numeric value, represented as a percentage and can be made 0%.
Who determines the Buyer's Premium?
The Buyer's Premium is nominated by the Selling agent.
What if there is no Buyer's Premium for the lot?
The Buyer's Premium field can be made to display 0%
FAQs
Can the Buyer's Premium be updated when the auction is running?
No, the Buyer's Premium field cannot be updated when the auction is running.
Can the Buyer's Premium be set as a range or can I add text to the field?
No, the Buyer's Premium field will only accept numeric values and is represented as a percentage.
Where is the Buyer's Premium displayed for the lot?
The Buyer's Premium is displayed in following areas:
"Overview" details of a lot, as shown below
"Delivery" details of a lot, as shown below.
Preview of a lot in an Auction catalogue, as shown below
Will AuctionsPlus charge and collect Buyer's Premium on behalf of selling agent?
No, Buyer's Premium is nominated by the selling agent and if a lot is sold, it is charged and collected by the Selling agent.