What is the sales tax rate applied in the given example?

The sales tax rate applied in the example is 6.5%. This figure is likely derived from specific guidelines or regulations that set the sales tax percentage for transactions in a given region or context. Understanding sales tax is crucial for ensuring compliance with local tax laws during the auction process, as auctioneers must accurately calculate the total cost for buyers, which includes the base price of the item plus the applicable sales tax.

In practice, various states or jurisdictions have their own designated sales tax rates, and these can vary not just from place to place, but also based on the type of goods or services being sold. This rate plays a significant role in determining the final sale price and is essential for both buyers and sellers to be aware of when engaging in auctions or sales transactions.