Seller
Seller fees
Commission: None — you keep the hammer
SMP does not take a percentage of your sale price when the auction closes.
Listing cost: Free
Free to launch — founding builders. Creating your Garage and listing a project is free.
Send It / auction launch: Free
No charge when Send It confirms and the 72-hour auction starts.
Vehicle payment: Paid directly to you
SMP does not hold or escrow vehicle purchase funds.
Buyer
Buyer fees
Buyer premium: 5% of the winning bid
Added on top of the hammer price. Shown before you Send It or confirm a bid.
Maximum fee: $5,000
Premium is capped per completed sale — 5% fee (capped at $5,000).
When it's charged: At auction close
Charged to your card on file. The hammer goes to the seller.
Before you bid: Verification required
Phone, email, and payment method on file before Send It or bidding.
Platform fees are separate from the vehicle price. We do not collect, hold, or escrow the vehicle purchase funds — the buyer pays the seller directly using a method both agree on.
1. Sellers — free to launch, keep the hammer
Free to launch — founding builders. Creating your Garage and listing a project on Sell My Project is free. When your Crew fills and Send It unlocks, a verified buyer can open the 72-hour auction at your Launch Price — with no seller launch fee.
- You keep the winning bid. SMP does not take a percentage of your sale price at close.
- Seller fee: Free. No charge when Send It confirms and the auction starts.
- The buyer pays you directly. SMP does not hold or escrow vehicle funds.
2. Buyers — 5% premium, capped at $5K
Winning buyers pay a 5% buyer premium on top of the hammer price. The premium is capped at $5,000 per completed sale — you'll see the exact amount before you Send It or confirm a winning bid.
- Premium is calculated on the final winning bid when the 72-hour auction closes.
- SMP charges only the buyer premium to your card on file at close — the hammer goes to the seller.
- Verified phone, email, and payment method are required before Send It or bidding.
3. When fees hit — the sale flow
- Crew builds — buyers follow your project and join your Crew. Send It stays locked until your Crew goal is met.
- Send It unlocks — a verified buyer commits at your floor price and starts the 72-hour auction. Seller launch is free for founding builders.
- Auction runs — public bids, visible clock, anti-snipe in the final minutes. Buyer premium is shown on every bid confirmation.
- Hammer falls — highest valid bid wins. Buyer and seller get a contact packet. Buyer pays seller for the vehicle; SMP captures the buyer premium.
4. Buyer premium examples
Buyer premium = 5% of hammer, capped at $5,000. Totals below assume you win at the listed hammer.
| Hammer | Buyer premium (5%) | Buyer pays total |
|---|---|---|
| $20,000 winning bid | $1,000 | $21,000 |
| $42,000 winning bid | $2,100 | $44,100 |
| $120,000 winning bid (cap applies) | $5,000 | $125,000 |
5. What we don't charge
- No fee to create a Garage or browse Discover.
- No seller commission on the hammer — you keep the winning bid.
- No hidden buyer fees beyond the disclosed 5% premium (capped).
- No platform escrow of vehicle purchase funds between buyer and seller.
6. More detail
For the full seller and buyer journey, see How It Works. For platform rules, age requirements, liability, and the binding fee schedule, see Terms of Service. For how we handle personal and payment information, see Privacy Policy. Questions? Reach us through Contact Us.