Surprising find in my Barrett media kit
#66
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Join Date: Oct 2005
Location: LI, New York
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Could be wrong here, but im pretty sure its sellers fee. Not buyers fee. Therefore, its 675k - 50k corvette - 75k tilt trailer= $550,000 for boat and tow vehicle. Awesome deal.
#68
Banned
been to any auctions lately ????
BJ is a no reserve auction, meaning that you have to sell the car no matter what the high bid is. When you enter the car for sale you sign paperwork that effectivelly transfers ownership over to BJ once the car crosses the auction block. If the high bid on a $100k car is $25k, BJ doesn't care they sell it. Your only other option is to essentially "buy the car back" by paying both the buyer fee and the seller fee of the high bid. I don't remember off hand what the fees are , but I want to say that the buyer fee is 8% and the seller fee is 6%.
#70
From BJ site:
BIDDER REGISTRATION REQUIREMENTS
Bidders will be issued a bidder paddle number only after all items have been received and your method of payment for vehicle purchases has been approved. Bidder credentials will not be issued if the application is incomplete or if required items are omitted.
On-site Buyer's Premium: 10% Absentee Buyer's Premium: 12% On-site Automobilia Buyer's Premium: 15% Absentee Automobilia Buyer's Premium: 17%
Seller fee is 8%
BIDDER REGISTRATION REQUIREMENTS
Bidders will be issued a bidder paddle number only after all items have been received and your method of payment for vehicle purchases has been approved. Bidder credentials will not be issued if the application is incomplete or if required items are omitted.
On-site Buyer's Premium: 10% Absentee Buyer's Premium: 12% On-site Automobilia Buyer's Premium: 15% Absentee Automobilia Buyer's Premium: 17%
Seller fee is 8%