![]() ![]() The Artist's Resale Right payable will be the aggregate of Lots as indicated † in the catalogue and if sold for the equivalent of €1000 or more on the day of the auction willīe subject to a further percentage of the hammer price as follows:įrom €350,001 to €500,000 subject to 0.5% Is because such lots are sold using the Auctioneers' Margin Scheme and it should be noted that the VAT included within the premium is not recoverable as input tax.Ħ. Lots which appear without either of the above symbols indicate that no VAT is payable on the hammer price. This imposition of VAT is likely to be because the seller is registered for VAT within the European Union and is not operating the Dealers Margin Scheme or because VAT is due at 20% on importation into the UK. The addition of (*) or (VAT applied on hammer price) to the lot description indicates that VAT is payable by the purchaserĪt the standard rate, presently 20%, on the hammer price as well as being payable on the buyer's premium. (Buyer's premium 27.6% inclusive of VAT). In addition VAT is payable on this premium at the standard rate (presently 20%). The Conditions of Sale oblige buyers to pay a buyer's premium of 23% on the hammer price of each lot purchased. Estimates are prepared some time before the sale and may be altered by announcement before the sale. ![]() ![]() Estimates do not include the Buyer's Premium or VAT (where chargeable). The lower estimate may represent the reserve price or may be above the reserve price. Accordingly if you buy, your primary contract is with the seller.Įstimates are designed to help buyers gauge what sort of sum might be involved for the purchase of a particular lot. Our staff will be happy to help you if there is anything you do not fully understand.Īs auctioneers we usually contract as agents for the seller whose identity, for reasons of confidentiality, is not normally disclosed. All sales are conducted according to our printed Conditions of Sale which are readily available for inspection in person, on our websites and normally accompany catalogues. The following informative notes are intended to assist Buyers of Dawsons, particularly those inexperienced or new to our saleroom or online bidding platforms. ![]()
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