don't forget the BJ format: If the gavel drops at say $100K, the seller pays an 8% commission, plus a $1000 to $5000 registration fee depending upon day & time of the auction. The buyer pays a 10% buyers premium, and must w/in 48 hrs pay up & arrange for shipment off of the premises at WestWorld. In summary, the buyer gets around $88K, the buyer pays about $113K.........and BJ earns $25K.......every two minutes !
Plus........a bidder's ticket is $500, plus a minimum cash (refundable if you don't buy anything) deposit of $9000........before you even walk into the bldg !
Woohoo.......I'm going to wallow. I save the buying for eBay, Autotrader, etc