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.
As lot 1.
KERTÉSZ -- PARIS PHOTOGRAPHS
Barancy, 'Fétiches,' Le Sourire, 20 July 1933, n.p., 13 photos reproduced (figs.2-3). For the page from Le Sourire, see: Phillips, Photographic Work of Kertész in France, CUNY, 1985, no.1933.113, titled 'Two Female Dolls Nude on Bed'; Greenough et al., André Kertész, National Gallery of Art, Washington DC/Princeton University Press, 2005, p.255.