FORUM

I was told today that thesaleroom auction platform is raising its bidding commission for buyers from 3.5% to nearly 6%.....

I have only bought twice using this platform so doesn't really impact me but thought it worth mentioning if true. I'm sure even some who use it more than I have, may not be aware?

To be clear, that is the commission saleroom.com charge the buyer for using their website.
There is still the auction house buyer commission and VAT to pay as well.

You must have inside sources Aristo. I've not seen anything to confirm the raise. Surely 3% is as much as the market will bear. I used the service once and, if it was cheaper might do so more, for the convenience. But I doubt people would be willing to pay another £25+ on a £500 item to avoid using the phone, especially on top of a 25% house commission plus VAT and shipping.

A non forum member emailed me today to say it's correct. He had spoken with the saleroom.com directly via live chat.

They confirmed an increase from 3.0% to 4.95% excluding VAT, @ Nov 1st. Little ambiguous as stated some auction houses? They also stated it's the first increase in 12 years?

Auction Houses are, I believe, free to directly charge online bidders as much or as little online bidding fees as they wish, however the majority I believe pass the whole of the saleroom portal online bidding fee to the buyer?

aristomatic wrote: ↑Wed Oct 31, 2018 1:22 pmThey also stated it's the first increase in 12 years?

That implies an increase should be expected to keep up with inflation, but the fee is a percentage, not a fixed price. Will it continue to increase over the years until it reaches 100% or more of the hammer price?
I think they're in danger of pricing themselves out of the market, but time, as they say, will tell.