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.
Michael Phelps Ward, CBE, MD, FRCS, 'Presented by the Chairman and Director of Smiths English Clocks Ltd. to Dr. M.P. Ward. as a memento of the ascent of Mount Everest, May 29th 1953.' (presentation card accompanying the watch).
The description should read: 'A Smiths gold wristwatch, presented to Michael Ward by the manufacturers in commemoration of the British Mount Everest Expedition, 1953'.
The hallmarks inside the case read Edinburgh, May 1952-May 1953.