What is the total commission received from the buyer's premium based on personal property sales?

The total commission received from the buyer's premium based on personal property sales is B, which amounts to $3,392.72. A buyer's premium is a fee added to the final bid amount that is paid by the buyer at an auction, and this fee is often a percentage of the final bid. Understanding how this premium is calculated is essential for auctioneers to determine the overall commission they will earn from sales.

In this case, if the buyer's premium represents a specific percentage of the final sale price, the total commission will be the cumulative amount collected from all buyers based on their successful bids. This figure can impact both the auctioneer's earnings and the transparency of the sale process.

The choice of $3,392.72 indicates a calculation that incorporates the relevant percentage applied to the winning bid prices and reflects the guidelines established for such premiums, which are common in practice. This ensures that auctioneers accurately reflect their services and the cost to buyers, thus maintaining a fair auction market.

Recognizing how the buyer's premium is applied can help improve financial planning and strategy for both auctioneers and consignees, making this figure crucial for understanding the revenue generated through personal property sales.