[asphaltgambler]

For more specifics concerning %'s and fees at the 2 large (TV time) auctions houses. For any given vehicle for sale: 10% buyers premium, 8% sellers premium right off the bat. So take a veh that sold for $50K. In this case the successful bidder pays an additional $5K on top of the sell price. The seller gets $4K less than the sale price. In this example the car really sold for $55K. The buyer really only gets $46K. The auction house just received a total of $9K of front-end percentages on $50K deal.

But wait!!! - There's more!! There is transportation costs, storage fees once there and of course for the VIP treatment there $$ upgrades to 'enhance' the location IE: outside common parking (staging area) better outside parking (closer to the many people who walk by) inside the tents, or better yet inside the actual auction house. All this is "available" to the seller. Then of course there is registration fees, etc, etc for both buyer and seller. Just like Vegas gambling establishments the adult beverages are strong and are frequently comped to the 'Big fish' buyers. Food is plentiful and pretty hostesses everywhere.

If you are the seller and want to further enhance your chances of a higher end buyer you could opt for "prime time TV spot" = additional fees and or % of the sale as well. Further the auction will really pressure you to do a "no reserve sale" which means exactly that. They sometimes will discount the seller % or fees to encourage that. This guarantees a sale and ensure the house get's its take every time. The auction gives @3 minutes per car to complete the process once "on the block' - sometimes less or sometimes more if the vehicle is very high dollar or the bidding on a particular car goes way past normal