A percentage added on to your bidA prospective buyer’s indication or offer of a price he or she will pay to purchase property at au... More amount. Buyer premiums are used by many auction houses as a way of spreading the cost of the event with the people who benefit most from the opportunity to purchase; the buyer. It is an amount added to the high bidA prospective buyer’s indication or offer of a price he or she will pay to purchase property at au... More in addition to the high bidA prospective buyer’s indication or offer of a price he or she will pay to purchase property at au... More and payable by the buyer. This should be in the terms and advertising for the auction.