"Actually on a sale like this, a typical auction house would receive closer to $200K. Here's the math:
Buyer's budget $965K.
BaT auction: Seller gets $960K, BaT gets $5K.
Normal auction with 10% buyer fee and 10% seller fee:
(assuming the same buyer with the same desire and same budget for the car)
Buyer bids $877,273, also pays 10% bidder fee ($87,727), buyer pays $965,000 total
Seller receives $877,273 minus 10% sellers fee ($87,727), seller receives $789,546 total
Auction house…"
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