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.
Georg Jensen Silversmithy: 77 Artists, 75 Years, exh. cat., Smithsonian Institution, cat. no. 16 (bracelet illustrated)
David Taylor (ed.), Georg Jensen Jewellery, Bard Graduate Center, 2005, p. 280, cat. no. 312 (example illustrated)