More numbers.
So that Bring a Trailer buyer had a budget of $264,000 for that car, and the seller got $259,000 of that. Pretty efficient. (BaT buyers fee is 5%, up to a maximum of $5k. In this high-price sale, that $5k equalled 2.1%)
In a typical normal BJ/Mecum/etc auction (let’s say 10% buyer fee and 10% seller fee), the same buyer with the same budget would bid $240,000, then pay an additional 10% buyer fee ($240 + $24 = $264), for the same total.
But instead of the seller getting $259,000 like the BaT auction, he would get only $216,000 ($240,000 hammer minus 10%).
For a seller to net the same $259,000 as the BaT auction, the car would have to sell for $316,556 ($287,778 hammer plus 10% buyer fee).
I have both bought and sold cars on BaT (although they were significantly lower priced cars than GTs), and I think it’s a pretty interesting concept.
So that Bring a Trailer buyer had a budget of $264,000 for that car, and the seller got $259,000 of that. Pretty efficient. (BaT buyers fee is 5%, up to a maximum of $5k. In this high-price sale, that $5k equalled 2.1%)
In a typical normal BJ/Mecum/etc auction (let’s say 10% buyer fee and 10% seller fee), the same buyer with the same budget would bid $240,000, then pay an additional 10% buyer fee ($240 + $24 = $264), for the same total.
But instead of the seller getting $259,000 like the BaT auction, he would get only $216,000 ($240,000 hammer minus 10%).
For a seller to net the same $259,000 as the BaT auction, the car would have to sell for $316,556 ($287,778 hammer plus 10% buyer fee).
I have both bought and sold cars on BaT (although they were significantly lower priced cars than GTs), and I think it’s a pretty interesting concept.
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Thank you ... Let me know where to send the fee 
of an expensive car. Anyway, alright alright I'll stop using that word. Try anyway.
