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.
Anonymous sale, Christie's, London, 5 February 2008, lot 385 (£50,900).
M.L. Borràs, Picabia, London, 1985, no. 639 (illustrated fig. 820, p. 402).
Chicago, Arts Club, Picabia, January 1936, no. 18.