VAT rate of 17.5% is payable on hammer price plus buyer’s premium.
Christie’s generally offers property consigned by others for sale at public auction. From time to time, lots are offered which Christie’s International Plc or one of its subsidiary companies owns in whole or in part. Each lot of such property is offered subject to a reserve, unless state otherwise, and is identified with the symbol ? next to the lot number. On occasion Christie’s has a direct financial interest in lots consigned for sale. This interest may include guaranteeing a minimum price to the consignor of property or making an advance to the consignor which is secured solely by consigned property. Such property is also offered subject to a reserve and will be identified by the symbol °next to the lot number. Where Christie’s has an ownership or financial interest in every lot in the catalogue, Christie’s will not designate each lot with the appropriate symbol but will state in a legend at the front of the catalogue that we have an interest in every lot in the sale.