What is a buyer's premium on government auctions?
| Applies to U.S. government auctions
A buyer's premium is a percentage added on top of your winning bid, paid by the winner. It is not part of the bid, so a $1,000 winning bid with a 10% premium costs $1,100 before tax.
The rate depends on the platform and, on some platforms, on the seller. GSA Auctions, HUD HomeStore, Illinois iBid, Michigan MiBid and MNBid charge none. On GovDeals each selling agency picks 5%, 7.5%, 10% or 12.5%. Public Surplus sellers set their own, from 0% to 10%. Municibid charges the winner 9% on lots under $100,000. GovPlanet charges a buyer's fee of 10% to 15%. PropertyRoom charges none on most lots and 10% to 15% on vehicles and other capital assets.
The rate for a specific lot is shown on the listing before you bid. Add it to your maximum bid calculation, along with sales tax, any card surcharge and the cost of getting the item home.
Related questions
GovAuctions.app is a free search engine over official government auction platforms. We do not sell items or take bids; each listing links to the platform running the sale, whose terms apply. Rules vary by platform and seller, so check the listing before you bid.