commerce
Buyer's premium
No legal definition
A percentage of the hammer price charged by the auction house to the buyer, commonly 10–30% in whisky auctions, and generally subject to VAT in its own right.
Not a legal term
No whisky regulation in Scotland, Ireland, the United States, the EU or Japan defines this. It is a trade or marketing term, so it is only actionable if its use is actively misleading.
Worth knowing
It is contractual and stacks with the seller's commission — so the spread between what a seller nets and what a buyer pays on the same lot is often 25–40%. Any yield calculation on whisky investment that ignores both sides of the spread is wrong.
Related terms
Last reviewed 2026-07-30 · All glossary terms