A buyer's premium is an extra fee charged to the winning bidder by some auction houses. Teals does not charge one. Your winning bid is the price of the lot, with GST included. Delivery is additional.
What will I pay at Teals?
Your winning bid is the price of the lot. There is no buyer's premium, and GST is included. Delivery and transit protection are quoted before you bid.
One delivery charge per auction: $19 plus 2.5% of your total winning bids. The $19 is charged once, not per item. Includes transit protection.
How do I compare auction costs?
Compare the total for the same intended bid: the hammer amount, any buyer's premium, applicable tax and delivery or collection charges. Check the terms for that particular auction rather than assuming every house charges the same way.
For illustration, a hypothetical 20% buyer's premium adds A$20 to an A$100 hammer before delivery and any other applicable charges. This is an arithmetic example, not a claim about another auction house's current fees.
Does no premium mean every lot is cheaper?
It removes one extra charge. The final bid still depends on the lot and the competition. Compare condition, photographs, treatment information where applicable and the complete delivered cost before deciding what it is worth to you.