Buyer’s Premium

Each sale states its own buyer’s premium. Every bidder on that sale pays the same premium and should bid accordingly. The invoice is the winning bid, plus that premium, plus sales tax on the bid plus the premium when tax applies.

How invoicing works

• Hammer (your winning bid) + the buyer’s premium on that sale + sales tax on (hammer + premium), at the rate on that sale.
• Invoices go out by email, usually by noon the next business day after the auction closes.
• Pay online from My account → Invoices (Stripe Checkout), or pay cash or card at the pickup listed on that sale. Credit cards accepted up to $5,000. No personal checks.
• No returns. A bid is a binding contract.
• Pickup deadline is posted on each auction. Missed pickup is abandoned; ownership reverts and funds are forfeited.
• Titled items: payment first, title transfer, then the seller releases the item.

Draft — pending a tax professional’s confirmation. This is not a filing instruction. Draft. VP Bid collects and remits Minnesota sales tax on every sale, whether the buyer pays by card or by cash. Tax on a card invoice is added automatically. VP Bid files and pays that tax to the Minnesota Department of Revenue.

Questions? Email support@vp-bid.com.