How much does Mecum charge for commission?
In addition to the entry fee, Mecum Auction charges a commission for sellers. There is a minimum commission of $125 to $650 depending on your motorcycle’s position. The commission is 10% of the hammer price if you have a reserve price which applies if you accept the last bid.
How much does a buyer pay at Mecum?
There was a 12% bidder’s fee on top of the sale price for bidding online and a 10% bidder’s fee for an on-site winner (the minimum bidder’s fee was $1000).
What is the commission at Mecum?
At our auctions, these entries really do stand out and garner additional attention from bidders. They also benefit by receiving a reduced commission rate, as the standard 10% seller’s commission with a reserve is reduced to 6% for no-reserve entries.
How does Mecum get paid?
Mecum Auctions pays the seller when payment is received and confirmed from the buyer. In the event of a Wire Transfer, payment may not arrive until the first business day after the auction. Seller checks are then mailed within 5-7 business days.
What percent does Barrett-Jackson charge?
(B) Should Buyer default upon his purchase in any manner, for any reason, Buyer agrees to pay Barrett-Jackson the full sum of both the buyer’s premium 15% of sale price live (17% absentee/internet) and seller’s commission (15% of sale price).
How do you qualify to bid at Mecum auction?
You don’t have to be a dealer to buy a car at a Mecum auction; just register as a bidder in advance online or on-site at an event and join in the action with qualification to place bids on whatever catches your eye.
What percent does Barrett Jackson charge?
Can anyone buy at Mecum Auctions?
Mecum auctions are family-friendly events open to buyers, sellers and spectators making them easily accessible for everyone to enjoy, and there are many different options for getting in on the auction action.