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Is the amount the high bidder bids the total price to pay?

April 26, 2017bids high pay price total

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Is the amount the high bidder bids the total price to pay?

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Ausxhin recommends that a Buyer’s Premium be added to each bid. The premium is a percentage amount paid by the buyer and added to the highest successful bid to determine the final contract price. At most Auxshin auctions, there is a small buyer’s premium, usually less than 3% of the bid amount.