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What is an Auction Premium?

This will cover what an auction premium is and how to set it as an auction manager.

The Auction Premium is a surcharge that is added to all items on an invoice.  This surcharge is a percentage designated by the Auction Manager and cannot be removed from any invoice once the auction has closed.

It is important to know the Auction Premium is NOT meant to be an added fee to recoup credit card fees. To learn more about how to pass credit card fees on to a bidder, please visit this article: Passing on Fees to the Bidder, Donor or Purchaser (handbid.com)

How to set an Auction Premium 

  1. Go to the settings gear wheel in your Auction or Campaign

  2. Go to the "FINANCIAL" tab

  3. Enter the percentage you'd like to have added to all invoices. 

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The Auction Premium will apply to all invoice items in your event and cannot be removed or adjusted after the auction closes.