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.
Please note that the provenance for this lot should read as follows and not as stated in the catalogue:
Heinrich Rieger, Gablitz
Gallery Serge Sabarsky, New York
Acquired from the above by the present owner in 1976.
Please also note that the present work is being offered for sale under a settlement agreement between the current owner and the heirs of Heinrich Rieger. This settlement agreement resolves the dispute over ownership of the work and title will pass to the successful bidder.
THE PROPERTY OF A PRIVATE GERMAN COLLECTOR