Auction Final Amount

Auction Final Amount Calculator. Image generated by AI

The Auction Final Amount Calculator computes the total amount owed in an auction based on the bid price, a buyer's premium percentage, and an optional tax rate. This tool provides clear breakdowns of the buyer's premium amount, tax amount, and final cost, making it ideal for auction budgeting and financial clarity.


Auction Final Amount Calculator


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Results




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Calculator

  1. the winning bid amount
  2. the percentage of the bid price charged as a buyer's premium
  3. the percentage of tax applied to the sale

Results

  1. the amount of the buyer's premium based on the percentage
  2. the amount of tax applied to the subtotal of the bid price + buyer's premium
  3. the total amount owed, which includes the bid price, buyer's premium, and tax

Example Calculation

Bid Price: $1000
Buyer's Premium: 10%
Tax: 8%
1000 * (10 ÷ 100) = 100
Buyer's Premium Amount: $100.00
Add this to the bid price:
1000 + 100 = $1100
Calculate the 8% taxes:
1100 * (8 ÷ 100) = 1100 * 0.08 = 88
Tax Amount: $88.00
1100 + 88 = 1188
Final Amount: $1188.00

This calculator is essential for understanding total auction costs, especially when premiums and taxes are involved. It provides transparency and ensures accurate financial planning.

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