Buyer’s Fees
Where can I see what the Buyer's Fee is?
The current Buyer's Fee will always be shown on the auction listing page under the current price in both the bid area and auction details area. You will also see the Buyer's Fee amount you will pay for your entered bid on the page where you confirm your bid.
Auction Bidding Area
Auction Details Area
Confirm Bid Page
How We Calculate Our Buyer's Fees
A buyer's fee (% of the winning bid amount) will be charged directly
to the winning bidder upon the close of each auction via the credit card you entered prior
to placing the bid. You pay the selling agency directly for the full cost of the item
(unless otherwise noted).
All buyer's fees are aggregate unless otherwise noted. This
means after you cross certain price thresholds, you will pay a different buyer's fee for the
remaining amount.
9% Buyer's Fee Example:
- 9% for bids up to $1 - $99,999.99
- 6% for bids $100,000 - $499,999.99
- 4% for bids over $500,000
If the Winning bid is:
$10,000
9% of $10,000
Buyer’s fee = $900
If the Winning bid is:
$50,000
9% of $50,000
Buyer’s fee = $4,500
If the Winning bid is:
$150,000
9% of $100,000 = $9,000
+ 6% of $50,000 = $3,000
Buyer’s fee = $12,000
If the Winning bid is:
$550,000
9% of $100,000 = $9,000
+ 6% of $400,000 = $24,000
+ 4% of $50,000 = $2,000
Buyer’s fee = $35,000
FAIR WARNING ALL SALES ARE FINAL. You are legally
obligated to pay for your item per the terms of the seller if you are the high
bidder at the close of auction. If you do not pay for your item, you will not
receive a refund of your buyer's final sale fee, you will no longer be permitted to
bid on GOV Surplus Online.com and will be subject to a penalty of 40% of the winning bid
amount. If your credit card is declined for insufficient funds, you will be charged
a $50 fee.
Frequently Asked Questions
What if a selling agency rejects my bid?
What are reserve prices?
When are buyer’s fees charged?
What are the consequences of non-payment?
How are refunds handled?
