Knowledge Base Equip-Bid Most Asked Questions Bidder FAQ

            Why is my invoice higher than my bid amount? (Buyer's Premium)

            Buyer's premium (BP) is a percentage that is added on top of the final bid price.  BP will be collected on every item sold on EQUIP-BID. The terms of each auction will notify you what BP percentage will be charged; all auctions on EQUIP-BID will charge a 15% BP.  Sales tax will be calculated based on the entire price of the item (bid price + BP).   


              Auction Amount  
            Final Bid Price $10.00  
            Buyers Premium $  1.50


            Total before Sales Tax $11.50  


            Updated: 24 Apr 2018 04:28 AM
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