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.
with Redfern Gallery, London, where purchased by J.P. Cochrane in 1948. Lady Melchett; Christie's, London, 10 June 1988, lot 365a.
Exhibition catalogue, Graham Sutherland, London, Crane Kalman Gallery, 1999, p. 33, no. 15, illustrated.
London, Crane Kalman Gallery, Graham Sutherland, April - June 1999, no. 15.