GUIDE: BUYER PREMIUM & TOTAL COSTS

How to calculate your final invoice before you bid.

Transparency First

Winning a bid is not the final amount you pay. Like all professional commercial auctions, Bid Boss applies a standard Buyer Premium and Handling Fee to every lot. These fees support the infrastructure required to grade, photograph, store, and manage high-volume inventory.

1. THE HAMMER PRICE

This is the amount you bid. If the auction closes and you are the high bidder at $50.00, your Hammer Price is $50.00.

Note: This is only the starting point. All other fees and taxes are calculated on top of this number.

2. BUYER PREMIUM (BP)

A Buyer Premium is a standard percentage fee added to the hammer price of every lot.

Why it exists: Covers auction platform operations, marketing, and administration.
The Rate: The exact percentage (e.g., 15%) is listed in each auction’s Terms & Conditions.
Non-Negotiable: Applies equally to all bidders, regardless of volume.

3. HANDLING FEES (Per Lot)

A flat Handling Fee is applied to each individual lot you win.

Coverage: Receiving, sorting, inspecting, grading, photography, warehousing, and staging.
It Stacks: Win 10 lots = pay 10 handling fees.
Pickup vs Shipping: Applies to all orders.

4. TAXES

Bid Boss is a registered Canadian business and must collect applicable sales tax (HST / GST / PST) based on the destination of the goods.

Taxable Base:
Taxes are calculated on the Total Transaction Amount (Hammer Price + Buyer Premium + Handling Fees).

5. SHIPPING COSTS (Optional)

Shipping is not automatic and must be requested during registration.

Calculation: Based on weight, dimensions, and destination.
Invoicing: Added after auction close.
Payment: Items are not released until the full invoice is paid.

6. U.S. BUYERS (Duties & Imports)

Your Responsibility: Customs duties, brokerage fees, and tariffs.
Not Included: These fees are not collected or estimated by Bid Boss.

Duties or customs charges are not grounds for cancellation, refund, or dispute.

6. HIGH-VALUE SECURITY

Invoices exceeding certain thresholds may trigger additional verification.

Verification: In-person payment or government ID may be required.
Discretion: Enforced as a standard fraud-prevention measure.

THE TOTAL COST FORMULA

(Hammer Price + Buyer Premium + Handling Fee) + Taxes = Total

+ Shipping Cost (if requested)

Final Advice:
Prepared bidders calculate costs before bidding. Always review the Terms & Conditions tab of the specific auction to confirm the current Buyer Premium and Handling Fee.