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The buyer's premium was a feature in Roman auctions during the reign of Augustus, when buyers were required to pay a two percent tax on purchases. [4] The modern buyer's premium was introduced at 10% by Christie's and Sotheby's in London in September 1975. [5] Percentages have varied widely, but have risen sharply with time.
Online auto auctions are also growing in popularity. One of the most popular online auctions to buy cars from is eBay Motors. [13] On eBay Motors, any user can create an account and put their vehicle(s) up for auction even if they are from a state that only allows closed auctions. There is usually a fee associated with selling a vehicle on eBay ...
Buying a car at auction requires a whole new set of rules and things to watch out for, whether it's a government or law-enforcement auction or one with vintage and high-end cars meant for collectors.
The auction was originally meant as a one-time event, [9] but was more successful than expected, garnering 3,000 attendees. It became an annual event, [6] and eventually prompted the creation of other collector car auctions in the Scottsdale area. [10] Jackson's wife Nellie was a car enthusiast and also took part in the business. [11]
The car dealership might charge you this fee if you buy a new car that needs to be delivered from another dealership. This fee depends on the location of your new vehicle.
Alabama. Average Dealer Fees: $4,807. Dealer Fees for New Cars: $5,490. Dealer Fees for Used Cars: $4,123. See More: 8 Classic Cars for Retirees To Buy for Hobby and Investment