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.
Artist's Resale Right ("Droit de Suite"). Artist's Resale Right Regulations 2006 apply to this lot, the buyer agrees to pay us an amount equal to the resale royalty provided for in those Regulations, and we undertake to the buyer to pay such amount to the artist's collection agent.
Post Lot Text
"Penck's dual gift, both intellectual and aesthetic, permits him to gaze fearlessly at phenomena from which others have long turned away, whether out of the inability to cope that leads to repression or out of the overconfidence that leads to hasty, noncommittal abstraction. Penck works against the illusions and delusions caused by the way things really are."
(S. Gohr & A.R. Penck, Penck, New York 2007).