Lead With Learning: Why Purpose Can Save Educational Technology. Dr. Shawn Mahoney, Chief Academic Officer, McGraw-Hill Education, School Group provides her thoughts on the why behind the what matters in educational technology.
In auctions, the buyer's premium is a percentage additional charge on the hammer price (winning bid at auction) of the lot that must be paid by the winner. It is charged by the auctioneer to cover administrative expenses.
However, if we subtract this $17,820 from the total sales price of $178,200, we get $160,380, which is not the high bid price the seller is entitled to receive. To calculate the buyerâs premium correctly, he should take $178,200 *.10 / 1.10 = $16,200.