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Antiques! => Antique Questions Forum => Topic started by: pantrwrstl on March 05, 2012, 01:49:23 pm
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So at one of my local auctions i noticed recently that they charge their 10% buyers premium after tax is added. I had never seen this at other auctions i go to and when i asked they said it was new York state law and that's how they had to do it? Is there any truth behind this or are they scamming everyone out of another 1%, tax here is 8.75%
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In many places they do charge a buyers fee but I am not sure if there is a law pertaining to this !! There is no law in Texas where I am but some Auction houses still have a buyers fee!! I was under the assumption that it was up to the individual auction if they do or do not add it in !! Small local auctions here do not !!
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I know that almost everywhere around here charges the premium, but this place charges the tax on what you pay, and then the "10%" fee, which makes it a 10.875% fee, which is something i dont think any other place around here does...
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Not sure but I don`t think they can charge a buyers fee on the governments money,, And taxes belong to either the fed or the state !! Simple to find out !! Call the Atty Generals office for your state !! They are usually pretty helpful !!
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I looked at several NY state auctions and the ones I looked at the buyers premium was added before taxes !! Adding it after just increases their take a bit !! It doesn`t increase the tax rate !! It stays the same and they pay the same sales tax !!
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They do the same in Missouri.