Auctioneers say they use the BP as a marketing tool to make their auctions more attractive to sellers by shifting a portion of the seller's commission to the buyer. But the truth is auctioneers make more money when they use the BP. Here's an example.....Action company XYZ used to charge the sellers 20% commission. When they switched to a BP auction they lower the seller's commission to 12% and add a 10% buyers premium giving them 22% total commission VS the 20% they used to charge.
About 15-20 years ago all the local auctioneers got together and agreed to start charging a buyers premium. A couple of auctioneers went even farther and started charging for bid cards under the premise it was to cover renting the building for the auction. Two auctioneers went so far as to charge admission. As far as I know they only did that once. None of the added buyers fees stuck.
BP are common at collector type auctions. The BP has been creeping upward at those sales. At first it was 10%. Then it got bumped to 12%, 13%, 15% and now one well known auction firm is charging 18%! That's in addition to the 15% they're charging the sellers.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Women and Tractors - More Views From the Farmer's Wife - by Teri Burkholder. The top ten reasons why the judges wouldn't let you participate in the stock antique tractor pull: Hey, this is stock! It came with that V8 in it! That "R" on my tires stands for "really old" not radial! Blue gas? We thought it was a pretty color! What wire hooked to my throttle?
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.