Buyer Fee (Auction Premium)
The fee an auction charges the buyer on top of the hammer price; structured as a percentage or stepped tier.
The buyer fee (also called auction premium, buyer’s premium or internet bid fee) is the markup an auction house charges the winning bidder on top of the hammer price. At Copart and IAA the fee is typically structured as a stepped tier — a flat amount up to $500 hammer, then a percentage that ramps up across tiers, capping at a maximum dollar amount around $1,000–$1,500 for high-value lots. Online bidding adds a separate internet bid fee on top.
Payment-method fees, environmental fees, gate fees and title-processing fees are layered separately. For a typical $10,000 hammer-price salvage car at Copart, the all-in cost after buyer fees often lands $700–$1,200 above the hammer — a meaningful spread that catches first-time buyers off-guard.
Storage fees apply to vehicles not picked up promptly after sale (typically free for the first 2–3 days, then escalating per day). International export fees, loading fees and documentation fees apply for cross-border purchases. Always model the total landed cost, not just the hammer price, before bidding.