How do you feel about buyer's premiums?

How do you feel about buyer's premiums? What do you think the advantages & disadvantages are for the buyer, the seller & the auctioneer?

I would really appreciate it if everyone would participate in this poll (yes, even those of you who haven't registered yet. It takes less than a minute to join the forum.) We will be using the data received for a future article.

I think they suck. To me it's like getting the dinner check with the tip already figured into it.

I don't like them at all, but it's not hard to allow for when you're bidding.  It's just extra cash in the auctioneers pocket that we get nothing extra for!

I think that some buyers forget about the buyer's premium in the heat of the moment and end up overbidding.

How do you feel about buyer's premiums? What do you think the advantages & disadvantages are for the buyer, the seller & the auctioneer?

I would really appreciate it if everyone would participate in this poll (yes, even those of you who haven't registered yet. It takes less than a minute to join the forum.) We will be using the data received for a future article.

1) One has to account for it when bidding.
2) I can't see that it's any benefit to the buyer...other than it rules out bidders who have less cash to spend.
3) It's obviously a benefit for the facility as it apparently helps pay their fee to the auctioneer.
4) The auctioneer is going to get a fee no matter what.

But beyond all that, your idea to use the results of this poll as data in a future article about the subject REALLY leaves a lot to be desired. In the three years I've been here (and the placement of half a dozen polls) I've never seen more than 6 or so people even VOTE in a poll here.....and that was when things were more active here.

The forum moves on because a dozen or so of us (out of over 3,000) post here and I guess maybe 50 to a hundred people come on each day to do some reading.

To state ----""x" percent of people who answered a poll believe "y" about something is a sample base so small as to not be used at all. I don't know what sample number one would need but it would have to be in the hundreds at a miniimum and closer to a thousand even better.

Polls are usually misused.  I worked in a couple of political campaigns when I was younger and the pollsters I worked for were very scientific.  The ones you see online or even on TV shows are used to make a point that was already settled on. 

Anyway buyer's premium do not bother me because I know them beforehand.  I think of them as a small advantage because they are generally hated so it thins out the competition.

I actually think that the buyer's premium on Storagebattles is a good thing.  I believe in capitalism and obviously people are willing to pay it.  It's like the fees on Ebay and PayPal, I hate them but they provide a service not found anywhere else.   

I wish they didn't exist, but the auctioneers around here rarely use them. I can only think of 1 storage auctioneer that uses them. He only uses them when he doesn't negotiate a favorable deal with the facility. Typically those auctions bring smaller crowds and that facility ends up renegotiating with that auctioneer to give him a bigger commission.. or they find another outlet to sell their lockers.

Don't like them since they obviously increase the cost of the units. Don't see any benefit for the buyers. I would assume the auctioneer or facility like them because they increase their profit. Maybe a benefit for the buyers would be that it might encourage the facility to sell the units sooner since they actually might make a little money?

I think that some buyers forget about the buyer's premium in the heat of the moment and end up overbidding.

That is really the only downside in my opinion. If I know beforehand, who cares, I see a locker I want to bid on, I decide my high bid is $500. So $500 - 10% buyers premium is $450. My high bid is now $450. Another bidder comes in his high bid is also $500. He forgets about the buyer premium and ends up paying $550. Now if There were no premiums and I did not bid $500 first I would have lost anyway. But if there were no permiums and I bid $500 first I win. But in the heat off the moment max bids change as well and usually my original max bid is 30%-50% lower than I really would go sometimes.

I think that some buyers forget about the buyer's premium in the heat of the moment and end up overbidding.

I think that happens a lot, sometimes on an unit I want, I'll say it out loud when the bidding is going on, Theirs 10% buyers premium right? So people remember.