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.
Marcelle Le Guiastrennec.
M.G. Dortu, Toulouse-Lautrec et son oeuvre, vol. IV, New York, 1971, no. D.995, p. 166 (illustrated p. 167).