Understanding auction fees

Auction fees are the charges added to the hammer price of a lot. These include:

• Buyer’s premium – paid by the buyer, on top of the winning bid
• Seller’s commission – paid by the consignor (seller), typically agreed in advance
• Additional fees – including marketing, handling, shipping or VAT where applicable

Fees help cover the costs of running the sale and delivering the tailored services provided by the auction house.

At Christie’s, all fees are clearly outlined in advance. You can also use the cost calculator on the lot page for a quick estimate before you bid.

Who pays auction fees — buyer or seller?

Both parties may pay fees, but they cover different aspects of the auction process.

Buyer fees

• Buyer’s premium: This is the most common fee, paid in addition to the hammer price. It is calculated as a percentage of the winning bid and based on a tiered structure.
• Other possible charges: local duties, sales tax and shipping or import costs, depending on your location and the type of object.

Seller fees

• Seller’s commission: Agreed at the time of consignment. This may vary depending on the category, value and estimated demand for the object.
• Other possible charges: These may include marketing, insurance cover or transport, all discussed up front.

What is buyer’s premium?

The buyer’s premium is a standard fee paid by the buyer on top of the hammer price. At Christie’s, it is structured in tiers, meaning the percentage rate may differ depending on the price band.

You can view Christie’s buyer’s premium rates here.

The total cost to the buyer is the hammer price + buyer’s premium + any applicable taxes or shipping charges.

For more auction terms, visit our full auction glossary.