No VAT will be charged on the hammer price, but VAT at 15% will be added to the buyer's premium which is invoiced on a VAT inclusive basis.
On occasion, Christie's has a direct financial interest in lots consigned for sale which may include guaranteeing a minimum price or making an advance to the consignor that is secured solely by consigned property. This is such a lot. This indicates both in cases where Christie's holds the financial interest on its own, and in cases where Christie's has financed all or a part of such interest through a third party. Such third parties generally benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful.
Sotheby's, London, 3 June 1977, lot 72 [a pair].
Christie's New York, 30 January 1993, lot 134.
Christie's New York, 30 April 2007, lot 75.
THE PROPERTY OF A GENTLEMAN
J. Bourne & V. Brett, Lighting in the Domestic Interior, London, 1991, p. 87, fig. 278.