Hammer Price

The final bid price when the auctioneer's hammer falls, before any buyer fees or taxes are added.

Definition

The final bid price when the auctioneer's hammer falls, before any buyer fees or taxes are added.

Related Terms

Buyer Fee

A fee charged by the auction house to the buyer, typically calculated as a percentage of the purchase price or on a tiered scale.

Landed Cost

The total cost of acquiring a vehicle including purchase price, auction fees, transport, inspection, title fees, and any reconditioning needed.

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