Mecum Thursday, Another Duster goes for big bucks
It is on my bucket list to someday buy a quality car at one of these auctions. Can somebody verify how the fees work?
Using this car as example, the buyer pays $73,700 for the car and another 12% buyer's fee for a total walkaway price to the buyer of $82,500. (and gov't sales tax, title fees etc of course)
Meantime the seller gets the $73,700 minus a 10% sellers commission and therefore actually gets only $66,330.
So the buyer is actually paying about $85K and the seller is actually getting $66K. Is this right?
This then brings up the question when discussing car values around the water cooler do we say this car is worth $66K or $85K?