Buyer Information

We welcome you to our auction viewings and sales and draw your attention to the following:

Buyer’s Premium and other charges paid by the Buyer:

20% of the hammer price

ARR (Artists Resale Rights Regulations 2006):

As Auctioneers, we are liable for the payment of ARR royalties. Lots marked with a ✔ (tick) are potentially exposed to ARR fees.

Royalties are calculated on the hammer price (sale price minus VAT and Buyers Premium). The maximum an artist or their beneficiary can receive is capped at €12,500 for one sale of one work, which is reached by works sold for €2 million or more.

This scale is cumulative so where the sale price is higher than the first threshold, the royalty on each portion of the price must be calculated accordingly and added together to arrive at the final sum.

An artwork must sell for more than €1,000 to qualify for a royalty. The law defines the price threshold in Euros and a “threshold calculator” is used according to the exchange rate on the date the artwork was sold.

Hammer Price* from Euro 0 to Euro 50,000 4%
Hammer Price* from Euro 50,000 to Euro 200,000 3%
Hammer Price* from Euro 200,000 to Euro 350,000 1%
Hammer Price* from Euro 350,000 to Euro 500,000 0.5%
Hammer Price* exceeding Euro 500,000 0.25%
*converted into the currency of the sale

The Buyer’s Premium and all other charges payable to us by the buyer are subject to VAT at the prevailing rate, currently 20%. NB: with the exception of books and unframed maps.

Please, would all potential buyers refer to our Conditions of Sale available either at the back of our catalogues or click here to view on this website.

Our Terms and Conditions relating to both buyers and sellers can be viewed on this website and also in our catalogues.

As a courtesy, we provide free condition reports by request giving a basic overview of the physical condition of the lot in question. To be assured of a response we need any request at least 24 hours before the start time of each sale. We also offer more in-depth condition reports and analysis of lots (at a fee which can be agreed prior) which are required at least three days in advance of the sale date.

Payment is due in pounds sterling immediately after the auction. Any first time buyers will need to supply us with their name, address and bank details, and we would require funds to be cleared before we can release any purchases. Card payments where the cardholder is not present can only be carried out for payments of up to £1,000. We offer the following methods of payment: bankers draft, cashiers cheque, personal cheque, travellers cheque, debit and credit cards (only up to Euro 10,000 or sterling £9,000.00 equivalent) and cash (only up to £500.00). Payment by debit card over the phone can only be made up to the sum of £500.00.

Credit cards. Visa or MasterCard Debit Cards. Visa, Delta, Connect or Switch

Transfers should be made to:

HSBC
Centre for Early Furniture and Art Ltd
Acc No. 81558536
Sort Code. 40-35-03
Company VAT No. 225775766
Company No. 09614823

These are sold as items of interest for display only and if bought for potential use must be checked over for compliance with current safety regulations by a qualified electrician first.

Once paid for and funds cleared your purchases must be collected within 4 working days. The Magellan Centre does not offer a packing and delivery service. We can help you to find a suitable carrier so please call our reception for more information.

T: +44 (0)1765 688940
E: reception@themagellancentre.co.uk