Definition:
Buyer's Premium
An additional fee paid by the buyer/winning bidder at an auction.
Normally the fee is a
percentage (10 - 20%) added onto of the final bid price. Be sure to take these additional monies into account when placing an auction bid.
As an example, a winning bid is $100., auction house charges a 15% buyers premium, buyer will owe $115. plus any applicable taxes and/or shipping charges.
