Posted by David Sherman on Saturday, July 08, 2006 at 3:33PM :
In Reply to: Re: Power-Wagons at auction posted by Marty on Saturday, July 08, 2006 at 1:49PM :
They charge a 10% buyer's premium. In their case, I wouldn't be surprised if it also helped them fudge the amount of money they pay the US government for the stuff they sell. For example, if the contract says that the government gets X% of the sales price, that amount doesn't include the buyer's premium. Even if the bidders always take into account the buyer's premium and big proportionately less for the junk so that their final price is the same as what they would have paid without the buyer's premium, the US taxpayers get cheated out of 10% of the money they would have gotten when the stuff that was bought with taxpayer's money was sold by GL.