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.
SOLD ON BEHALF OF THE FEDERATION OF JEWISH COMMUNITIES OF AUSTRIA TO BE SOLD FOR THE BENEFIT OF VICTIMS OF THE HOLOCAUST
The Mauerbach Benefit Sale, conducted on a non-profit basis by Christie's in October 1996 for the Federation of Austrian Jewish Communities, marked an important milestone in the history of Jewish restitution.
Just under a thousand works of art, confiscated by the National Socialists between 1938 and 1945, whose owners could not be determined, were offered for sale in a unique auction in Vienna.
The sale far exceeded expectations raising $14.6 million (£9 million) to benefit needy victims of the Holocaust in and from Austria. The worldwide distribution of these funds is currently underway, organized by the Federation of Jewish Communities in Austria.
The following lot has recently been made available by the Republic of Austria and is now being offered on behalf of the Federation of Jewish Communities in Austria. The proceeds from the sale of this picture will be used to benefit survivors of the Holocaust.