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Rock Island Auction Company
1-309-797-15001-800-238-8022[email protected]
RIAC Rock Island
7819 42nd Street West
Rock Island, Illinois 61201, USA
8:00am - 5:00pm, Mon - Fri
RIAC Bedford
3600 Harwood Road
Bedford, Texas 76021, USA
8:00am - 5:00pm, Mon - Fri
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  • FAQ
  • What is the buyer’s premium (BP)?

What is the buyer’s premium (BP)?

Almost every firearms auction has a buyer’s premium that is charged to winning bidders. A Buyer’s Premium is the amount added to the winning bid amount (hammer price). The BP is used by the auction company to promote the auction and to help defray the auction expense costs. The BP at RIAC is 17.5% for our Premier, Sporting and Collectors, and Arms and Accessories auctions, and 18.5% for our RIAC On Time auction. For example, if the Winning Bid Amount is $1,000 and you pay by check, the Buyer’s Premium would be $175 (17.5% of $1,000). The Total Purchase Price is then calculated as the Winning Bid Amount + the Buyer’s Premium, or $1,000 + $175 = Total Purchase Price of $1,175. All purchases made by credit card are subject to an additional 3.5% service fee. If the purchaser utilizes RIAC’s live bidding platform ‘RIAC Live’, there will be a fee charged, calculated as an additional 1% of the hammer price.

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We are the best place to sell your guns! As a firearms auction house, we have one common goal with our consignors: achieve the highest possible price.

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