The auctioneer by agreeing to hold a sale becomes the agent of the seller. They are supposed to try to get the highest price possible for the seller.
When the auctioneer charges a buyer premium they in a sense become the agent of the buyer. They in turn should be trying to get the cheapest price possible for the buyer.
When you bid at such an auction you are, knowing that there is a buyers premium, hiring the auctioneer to act as your agent.
The whole think smacks of dishonesty with a huge conflict of interest to me.
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Today's Featured Article - The Tractor Parade: Story of a Case SC - by Bernie DeLon. On a early fall morning back in 1994, I opened the newspaper and happened to spy an article about a local antique tractor club having their annual show that weekend.
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