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southern MN | BP are showing up on some machinery, & quite a few household or industrial type auctions.
Many of us will not attend those. (Real estate is a little different, there always seem to be closing or comission costs & these often become some sort of bp in an auction setting).
I see the auctioneer as representing the seller in an auction: trying to protect the seller from liability & issues, and trying to wring out the most money for any item being sold.
As such, it is poor policy to then have the purchaser directly pay the auction co an extra fee. They do not represent the seller or work for him.
I realize, just bid 10% less and it all comes out the same, & I realize the auctioneer gets paid either way so what's the difference.....
There is a difference to me.
Again, real estate is a tad different. I notice most auctioneers are doing more property than machinery around here, those margins are huge these days. What used to be a 6-8% premium should be a 3-4% today.
--->Paul | |
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