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.
The following lots were purchased by the vendor from native divers whilst operating a salvage vessel off Penrhyn Island in the South Seas during the 1970's. A random sample of twelve of the more important pearls were submitted to the Precious Stone Laboratory and all were found to be natural. Seven of these pearls were sold in our rooms on the 7th. March 2000, the remaining five are offered as lot 91 together with the report. The balance of the pearls are untested but are believed to be natural.