Buyer's Premium
This feature is used for auction items it is most commonly used for commission and/or consignment items. When using this feature you are able to select which items this fee will be assessed on. It will calculate the set percentage when the item is sold and include that amount on the guests statement. ***You can have both a processing fee and Buyer's Premium.
To set a Buyer's Premium there are two steps.
The first step is Setting up the Fee amount, Using your admin login click on General settings in the dashboard menu:
- Then click on Advanced Settings tab at the top.
- Once in the Advanced setting you will see the Buyer' Premium section to the far far right.
- Enter the % you want accessed for the Buyer's Premium in the text box.
**Remember to click the save button at the bottom of the page when done.
The Second Step is adding the fee to the items you want it accessed on, you will choose auction items form the dashboard menu:
- Either find the item in the list and click on the pencil to the far right or click the add button to add a new item.
- Once in the items record check the box next to " Buyer's Premium applies to item" to have the fee accessed on this package. You will find this check box to apply the fee toward the bottom of the item record.
**Remember to click update to save this choice.