Buyer’s Premium, Fees & Payment

Winning Bid vs. Total Amount Due

When you win an auction item, your winning bid is the amount you agreed to pay for the item itself. Your total invoice may include additional charges, depending on the auction and item category.

• winning bid amount
• buyer’s premium
• applicable sales tax
• applicable vehicle document or title fees
• applicable firearm transaction or transfer fees
• storage fees if items are not picked up within the required window
• other charges listed in the auction terms

Do not calculate your budget from the bid amount alone. Before bidding, review the auction terms and understand the total cost that may apply if you win.

What Is a Buyer’s Premium?

A buyer’s premium is an additional charge added to the winning bid. Buyer’s premiums are common in auctions and are part of the total purchase price paid by the winning bidder.

Buyer’s premium details are shown in the terms for each auction. Because buyer’s premium terms may vary, do not rely on a previous auction’s terms when bidding in a new auction. Always review the current auction terms before placing a bid.

Where to Find Buyer’s Premium and Fee Details

Buyer’s premium and fee information is available in the auction terms. Depending on the auction platform view, you may see this information in the auction details, registration terms, lot terms, or invoice.

• buyer’s premium
• payment deadline
• accepted payment methods
• tax information
• title or document fees for vehicles
• firearm transaction or transfer fees
• pickup deadline
• storage or forfeiture language
• auction-specific conditions

If you are unsure how a fee applies, contact Musick Auction before bidding. It is better to ask before the auction closes than to be surprised by an invoice after winning.

Sales Tax and Exemption Documentation

Applicable sales or excise taxes are added to taxable purchases unless the buyer provides valid exemption documentation accepted by Musick Auction.

Tax-exempt buyers should provide exemption documentation before checkout when possible. Exemptions are typically relevant to qualified business, resale, or other exempt buyers, but acceptance depends on the documentation provided and applicable tax rules.

Accepted Payment Methods

Musick Auction accepts the following payment methods:

• cash for in-person payments
• debit cards
• credit cards

Payment must be completed before items are released. Buyers should make sure their payment method is available and ready before bidding, especially for high-value purchases, vehicles, firearms, equipment, or business assets.

Payment Deadline

Musick Auction’s standard policy requires payment within 72 business hours of the auction closing unless the auction terms state otherwise.

Payment and pickup are connected. Buyers are responsible for paying for and picking up items within the required timeframe. Items are not released until payment requirements are satisfied.

Nonpayment may result in penalties, loss of bidding privileges, forfeiture, or other remedies described in the auction terms.

Vehicle-Related Fees

Titled vehicles may involve additional fees or paperwork beyond the winning bid and buyer’s premium. This may include applicable document, title, or processing fees.

• title status
• buyer’s premium
• applicable taxes
• applicable vehicle document or title fees
• payment requirements
• pickup deadline
• transport responsibility
• financing timing if financing is being used

Firearm-Related Fees

Firearm purchases may involve additional transaction, transfer, background check, or shipping-related fees depending on the item, buyer location, and transfer requirements.

• whether you are legally able to receive the firearm
• ID and paperwork requirements
• background check requirements
• FFL transfer requirements
• out-of-state buyer rules
• pickup requirements
• applicable firearm transaction or transfer fees

Financing and Payment Timing

Financing may be available for qualifying titled vehicles or trailers through the financing option listed on Musick Auction’s site.

If you plan to use financing, apply before bidding and make sure you understand the timing. Winning a vehicle at auction is still a purchase commitment. Financing delays do not automatically change auction payment or pickup deadlines.

• whether the item qualifies for financing
• whether you are approved
• how quickly funds can be available
• whether financing covers taxes, buyer’s premium, and applicable fees
• whether the auction payment deadline can be met

Before You Bid: Total Cost Checklist

• I reviewed the auction terms.
• I understand the buyer’s premium.
• I understand that sales tax may apply.
• I checked whether the item has category-specific fees.
• I know the accepted payment methods.
• I can pay within 72 business hours.
• I understand the pickup deadline.
• I know whether the item is a vehicle, firearm, or other item with extra requirements.
• I have arranged financing before bidding if needed.
• I contacted Musick Auction before bidding if anything was unclear.