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<p>[QUOTE=&quot;Conder101, post: 6331740, member: 66&quot;]Actually used right they can be helpful.&nbsp; At the auction house I have the most interest in, they post estimates, and I find that most of the time the hammer price ends up being right around twice the estimate.&nbsp; (The low estimate is a way the auction houses can say that they are so good that most everything sells over the estimate.&nbsp; It&#039;s a marketing trick, but I can use it to my advantage as well.)</p><p><br /></p><p><br /></p><p>No it is added BEFORE the sale.&nbsp; Difference between a store sale and an auction sale is the store owns the merchandise and gets the money from the sale and the markup is their profit.&nbsp; The auction house doesn&#039;t own the merchandise and the sale price (or most of it) is handed over to the consignor.&nbsp; The store gets their profit out of a markup before the sale, the auction house gets their profit from the buyers fee after the sale.&nbsp; They can&#039;t take on their percentage before the sale because they don&#039;t know what the sale price is going to be. The auction house has to get their money to operate from somewhere.[/QUOTE]</p><p><br /></p>

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