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I've often thought that this depresses the value for the seller; they wind up 15% short, since almost everyone drops back 15% and bids accordingly. Then the auction house takes ~6%, and the seller's cut is back even further.
In other words, the true market price is the total price (bid plus bidder's premium), so the seller is getting 15% less than market price - then taking a 6% hit for auction fees.
What do y'all think ?
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I'm not totally sure---I once heard that Heritage takes their 6% out of the 15%....so you get the money that was bid along with 9% more...but that doesn't make "cents". I'll try to look over on Heritages site and see what I can find.
Speedy
