A Buyer’s Premium Calculator is an invaluable tool for bidders in auctions, real estate, or any bidding scenario. This auction buyer’s premium calculator helps determine the total amount due after including the buyer’s premium and state tax, allowing you to calculate buyer’s premium online with ease.

Buyer’s Premium Calculation

The Buyer’s Premium is an additional fee that auction houses or sellers charge buyers, typically expressed as a percentage of the winning bid amount. The formula to calculate the buyer’s premium is:

Premium = (Bid Amount × Premium Percentage) / 100


The premium represents the extra cost incurred over the winning bid.

State Tax Calculation

In addition to the buyer’s premium, buyers may also need to account for State Tax on their purchases. The tax is calculated based on the winning bid amount and the applicable state tax rate. The formula is:

Tax = (Bid Amount × State Tax Percentage) / 100


This calculation ensures that buyers are aware of the total tax obligations on their winning bids.

Total Amount Due Calculation

Finally, the Total Amount Due is the sum of the bid amount, the buyer’s premium, and the state tax. The formula for calculating the total amount due is:

Total Amount Due = Bid Amount + Premium + Tax


This total gives bidders a clear understanding of what they will ultimately pay after the auction.

How to Calculate Buyer’s Premium

To use the auction buyers premiumcalculator, simply input the winning bid amount and the applicable percentages for both the buyer’s premium and state tax. This tool provides a clear breakdown of the costs involved, allowing buyers to understand the auction buyers premium calculation process easily.