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.
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.
All sold lots not cleared by 2pm on Monday 05 March 2001 will be removed to the warehouse of: Cadogan Tate Ltd., Fine Art Services, Cadogan Tate, 2 Relay Road, London, W12 7SJ. Tel: 44 (0)20 8735 3700. Fax: 44 (0)20 8735 3701. Lots will be available for transfer to Cadogan Tate, every week-day from 9am to 5pm. An initial transfer and administration charge of £3.20 and a storage charge of £1.60 per lot will be payable to Cadogan Tate. These charges are subject to VAT and an insurance surcharge. (Exceptionally large pictures will be subject to a surcharge). All charges due to Cadogan Tate must be paid at the time of collection from their warehouse.