Buyer fees &amp;amp; taxes
Registering with GovPlanet and participating in auctions are free.
For each item won in an GovPlanet Auction, the Buyer must pay a transaction fee. The amount of this fee is based on the final selling price and is detailed on the Payment tab of the listing page for each item.
Credit Card Fees
Credit card payments will be subject to an additional 2.95% convenience fee from iClosing. This fee will appear as a separate line on your credit card statement.
Default and Late Payment Fees
If the winning bidder fails to complete the transaction for any reason, they must pay a Default Fee based on final selling price of the item less Buyer’s transaction fee. In addition, Buyer will be charged a Late Payment Fee on all items purchased that have not been paid within five (5) business days after conclusion of a Purchase Contract. The Default Fees and Late Payment Fees are described in the chart below.
|Final Selling Price Ranges||Default Fee||Late Payment Fee
(per business day per item)
|1 € to 2,000 €||400 €||10 €|
|2,001 € to 8,000 €||1,200 €||25 €|
|8,001 € to 20,000 €||2,000 €||50 €|
|20,001 € to 40,000 €||3,000 €||100 €|
|40,001 € to 80,000 €||4,000 €||250 €|
|Above 80,000 €||5,000 €||250 €|
If a bidder defaults on multiple items in the same auction the auction closing prices of the defaulted items will be added together to determine the applicable default payment.
Unless and until all default and late payment fees are paid in full a customer will be prohibited from bidding on our site. GovPlanet unilaterally reserves the right to prohibit participation on our site at any time.
All items sold on GovPlanet are VAT exclusive and VAT will be added on to the final sale price and transaction fee of each item after the auction successfully closes.