Lovenhall ArtInstrument
The Instruments
Auction Costs
What the buyer pays, and what the seller keeps.
Currency
Hammer price
Buyer's premium
%
Often 25–27% at the lower bands.Seller's commission
%
Negotiable on better property.VAT on fees
%
Charged on the commission, not the hammer.The buyer pays
£13,120
on a £10,000 hammer
Hammer£10,000
Buyer's premium+ £2,600
VAT on premium+ £520
Buyer's total£13,120
Seller's commission− £1,200
VAT on commission− £240
Seller receives£8,560
The sale itself takes 45.6% of the hammer price.
Rates differ by house, by sale and by band, and some lots carry additional charges. Read the conditions of sale for the figures that will actually apply.
Before You BidHave the work read first
What is known about a piece, before what is asked for it.