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.