Is there a rule of thumb you can apply e.g.
1.Auction hammer price = £5000
2.Dealer pays auction house £5000 + x%
Does bare minimum to car (ie Valet / new MOT)
3.Screen price = £5000 + x% + y%
4.Lowest price dealer will accept = £5000 + x% + y% - z%
go on - its not that simple though is it?
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I thought at auction only the seller pays a commission ie the buyer pays the hammer price and nothing else?
Thats how it worked at my local auction. So, if that is the case, you can forget number 2 and the rest should be ok.
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