The auction ends. You won. The car is yours.
The price is not what the hammer said.
Every major enthusiast auction platform charges a buyer fee. It is disclosed, it is legitimate, and it is completely your responsibility to have accounted for it before you bid your last dollar. Failing to account for it means you paid more for the car than you intended.
Bring a Trailer
BaT charges a buyer fee of 5% of the hammer price with a minimum of $250 and a maximum of $7,500.
The 5% cap means that any car selling above $150,000 carries the same fixed buyer fee of $7,500. Below $150,000, your fee is 5% of whatever the hammer price is.
Examples: Car sells for $30,000. Buyer fee: $1,500. Total: $31,500. Car sells for $75,000. Buyer fee: $3,750. Total: $78,750. Car sells for $200,000. Buyer fee: $7,500. Total: $207,500.
To convert your total budget to a maximum bid on BaT: for cars expected to sell under $150,000, maximum bid = total budget divided by 1.05. For cars expected to sell over $150,000, maximum bid = total budget minus $7,500.
Cars and Bids
Cars and Bids charges a buyer fee of 4.5% of the hammer price with a minimum of $225 and a maximum of $4,500. The cap kicks in at $100,000. Cars and Bids has a lower cap than BaT, which makes it a marginally cheaper platform for the buyer on higher-value transactions.
PCarMarket
PCarMarket charges a buyer fee of 5% with a minimum of $500 and a maximum of $7,500. The minimum is higher than BaT and Cars and Bids, which matters on lower-value transactions.
What else adds to your purchase cost
Buyer fee is one component. Transport is another. A car bought in California and shipped to New York costs $1,200 to $1,800 depending on carrier and timing.
First-service costs on any new acquisition should be budgeted separately. Even a clean, well-maintained car needs to be brought to a known baseline by your own mechanic. This costs $500 to $2,000 depending on what needs doing.
Your true cost of acquisition is hammer price, plus buyer fee, plus transport, plus first service. Know this number before you bid your first dollar.
The Lot calculates buyer fee-adjusted maximum bids as part of every auction intelligence report. Free during beta.
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