[Formula455SD]

Originally Posted by EZ Nova

So IF I say a reserve at 1.3 million. I would hand over ownership prior to the auction.

On sale day, I have "someone" bid the car up and it stops with MY bidder at 1 million. MY bidder would have to fork over, 1 mill for the car, and $100,000 buyers fee, I would have to caught up $120,000. I would then get the million from the auction house, but I would have to pay MY bidders $100,000 and I'm still out the $120,000 sellers fee.

So in essence, to "try and see" what the car brings would possible cost the OWNER of the car 22U% of the hammer price? So in this case of high-bid at $1 million, it would cost the owner $220,000 for him to keep his car!

Is that correct? I know fee go down as prices rise, I was just using the base prices.

If your bidder bids over the reserve price. Then yes... they/you are liable for the buyer/seller fees as that would be considered a sale.