GL has raised Buyer's Premium to 12.5!

[MWMULES]

Just checking to see if anybody else has noticed this. I was just about to put in a bid and noticed everything on my watch list that starts next week has gone from a 10% to 12.5% bidders premium. That with the taxes I have here makes it 20% on top of my bid!
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[Stonepicker1]

"A 12.5% Buyer's Premium applies to this lot."

Yes, Sir. I see it now. Thanks

 

[swbradley1]

They have to make up the loss of rolling stock to IP somehow.

 

[Recovry4x4]

Maybe folks will reconsider bidding. Might be a double edge sword.

 

[Jeepsinker]

Yeah, they are trying to stay afloat, but all the changes they have made are driving away old customers.

 

[Piper Cub]

Wow. Anyone know when their contract's up? With the way they've been going it doesn't seem like they're going to be very competitive at renewal time.

 

[dmetalmiki]

I know the feeling..We have tax at 20%. allmost crippling.

 

[marchplumber]

That tax is on top of the tax you paid when you earned it. Hmmmmm.....................GL seriously might wanna reconsider it's actions. 12.5% of "0" is 0! These are auctions, not personal sellers with a history......buying as is, where is......

 

[infidel got me]

That tax is on top of the tax you paid when you earned it. Hmmmmm.....................GL seriously might wanna reconsider it's actions. 12.5% of "0" is 0! These are auctions, not personal sellers with a history......buying as is, where is......

Never really thought of taxes that way -- paying more tax on your earned tax-- now that's double dipping

 

[MtnSnow]

Must be only on certain lots as the upcoming lots for next week and this Thursday of what I just picked up out of OKCthis morning is still showing the usual 10% buyer premiium

 

[Warthog]

There is a local auction house that I used to buy from on a regular basis. Started with no premium. Then 10%. Then 15%.

Now they are at 17%. That is the same as PurpleWave auctions.

I don't attend their auction much anymore.

I wonder if they have taken lessons from the airlines on how to raise additional money?

 

[FloridaAKM]

I just noticed this last week that the BP's went to 12.5% from 10% after several auctions I won cleared. This will slow down my desire to bid on a lot of stuff from now on!

 

[MtnSnow]

Yep the items I am currently bidding on has the new higher premium on them

 

[Recovry4x4]

I would caution folks to check each auction they look at. Found one the other day that was 16%. I guess it's random.

 

[Trailboss]

When you want to bid on an item, of course you take all the costs including buyers premium, taxes, transportation costs to determine your top bid price. With a higher buyers premium, you would bid to a lower max to compensate. GL has to give a percentage of the bid to the Gov't for the item, but they get to keep the entire buyers premium. GL just wants a bigger slice of the pie.

 

[gimpyrobb]

I would caution folks to check each auction they look at. Found one the other day that was 16%. I guess it's random.

That was a non-governmental surplus auction. I was bidding on some of that today!

 

[DieselAddict]

GL Buyers Premium now 12.5%

Did anyone notice that for auctions in the new year the buyers premium on GovLiquidation has increased from 10% to 12.5%?

 

[jasonjc]

It's been that way for a few weeks.

 

[two.fiveM35]

I saw that on some non government item and thought wth. Is that the premium on all items? I guess it hard to make money when they're only selling low priced items. Can't get rich selling treadmills and tires

 

[Isaac-1]

You just have to keep it in mind before you bid