SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

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An auctioneer sells an item for $20,000 with a 12% buyer's premium. The seller's commission is 15% of the hammer price. What is the seller's net from this item (before expenses)?

$$17,000 $$18,600 $$15,000 $$20,400

Correct Answer:

$$17,000

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