If there was a 10% buyer’s premium, and if someone used a credit card with a 3% processing fee charge to the vendor, the gross to the auctioneer is 7% and t…My suggestion is that if you are going to use a credit card at an auction for your purchase, bid accordingly, viz….The auctioneer stated before the auction that they would accept credit cards for payment but they would charge a 3% processing fee along with the buyer’s premium….The buyer’s premium was 10%. When you add the credit card fee of 3% plus state sales tax of 7%, it doesn’t seems to be that great of a deal….

Original post by NC Auctioneer