What does the ‘buyer’s premium’ mean?

Buyer's premium is a charge in addition to regular sales tax on the purchase of an item. It is a tool used by most major professional auction companies in the world, as it helps offset the costs of the auctioneer. It is important to understand this as a buyer so that you only pay the total amount you wish to. Please review the Maxsold Terms and Conditions as well as the bid confirmation window before placing a bid to view the specific buyer's premium that applies the the auction.