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Auctioneers' fees

  • 14-12-2014 11:30pm
    #1
    kilk
    Registered Users, Registered Users 2 Posts: 142 ✭✭


    Does anybody know what the average fee % autioneers charge to sell a farm in the west? My friend is selling hers and the local autioneer quoted 3.5% plus advertising. This seems a little high to me!
    Any input greatly appreciated thanks.


Comments

  • #2
    MouseTail
    Registered Users, Registered Users 2 Posts: 1,663 ✭✭✭MouseTail


    Has she sought other quotes? I would imagine its more specialised than residential sales.


  • #3
    kilk
    Registered Users, Registered Users 2 Posts: 142 ✭✭kilk


    MouseTail wrote: »
    Has she sought other quotes? I would imagine its more specialised than residential sales.

    Not that I know of, it's a very small farm and valued around 85k I think. She's recently widowed and just wants to move back to Dub.


  • #4
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    kilk wrote: »
    Not that I know of, it's a very small farm and valued around 85k I think. She's recently widowed and just wants to move back to Dub.

    €1700 after tax, doesn't sound to excessive.


  • #5
    braddun
    Banned (with Prison Access) Posts: 1,221 ✭✭✭braddun


    she should rent it out


  • #6
    kilk
    Registered Users, Registered Users 2 Posts: 142 ✭✭kilk


    davo10 wrote: »
    €1700 after tax, doesn't sound to excessive.

    Is 3.5% of 85k not €2975?


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  • #7
    Michael D Not Higgins
    Registered Users, Registered Users 2 Posts: 7,223 ✭✭✭Michael D Not Higgins


    kilk wrote: »
    Is 3.5% of 85k not €2975?

    After tax, he said


  • #8
    kilk
    Registered Users, Registered Users 2 Posts: 142 ✭✭kilk


    Michael D Not Higgins wrote: »
    After tax, he said
    I obviously don't know how this works, can you explain please Michael D?


  • #9
    Michael D Not Higgins
    Registered Users, Registered Users 2 Posts: 7,223 ✭✭✭Michael D Not Higgins


    kilk wrote: »
    I obviously don't know how this works, can you explain please Michael D?

    The auctioneer has to pay tax on income, same as any other job. 3.5% is the gross amount the auctioneer will receive, but they pay tax on that and their net could be as low as €1700.

    I would have thought 1.5-2% would be a more typical rate but for a lower value rural property it could be higher than typical city rates.


  • #10
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    Would not see what the other auctioneers in the area charge? Its better than comparing what someone in Dublin or Cork charges


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