No VAT will be charged on the hammer price, but VAT at 17.5% will be added to the buyer's premium, which is invoiced on a VAT inclusive basis.
Anonymous sale, Tajan, Paris, 5 August 2003, lot 17.
Anonymous sale, Sotheby's, New York, 6 May 2004, lot 281.
Private collection, London, by whom acquired at the above sale, and thence by descent to the present owner.
THE PROPERTY OF A PRIVATE COLLECTOR