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.
Post Lot Text
The engraved scene is believed to be of a Chinese port, possibly Macao. For similar scenes of Chinese ports painted by China Trade artists see "The Decorative Arts of the China Trade" by Carl L. Crossman, Antique Collectors' Club, 1991 & 1997, Ps. 410-419.