A fee charged at an auction and added to the actual sales price is known as what?

The fee charged at an auction that is added to the actual sales price is known as the buyer's premium. This fee is paid by the buyer in addition to the final bid amount and serves as a source of revenue for the auction house. It is typically a percentage of the final sale price and can vary between different auction houses.

The buyer's premium is important for participants to understand, as it affects the total amount they are required to pay if they win an item. Including this fee ensures that the auction house can cover its operational costs and profit from the auction process. Buyers must take this into account when placing their bids to ensure they remain within their budget.

In contrast to the buyer's premium, other fees like the seller's fee would be a cost to the seller for listing their items at the auction. Auction markup generally refers to the increase in price of items within the auction context, but it is not specifically about a fee charged directly to the buyer. Similarly, a commission fee might be involved in the context of an agent or broker facilitating a deal, but in the specific case of auctions, the direct fee that affects the buyer is the buyer's premium.