Sotheby's and Christie's are increasing their fees
Just someone one - Sotheby's or Christie's - to announce an increase in their per cent levied from the buyer in addition to «auction» price (Buyers Premium), the second auction house immediately follow its example. At this time, the initiator was Sotheby's, however, representatives of Christie's will soon have reported an increase in per cent commission.
Sotheby's introduces the new rules since 1 June 2008. If in the past, both auction houses charged 25 per cent of the amount to 20 000 dollars, 20 percent - from purchase for an amount of 20 001-500 000 dollars and 12 percent of all amounts in excess of half a million dollars, now 25 percent will be levied on purchases in the amount of to 50 000 dollars, 20 per cent - up to one million dollars and 12 percent of all that, more than a million.
While the new rules apply only to Sotheby's, Christie's but soon tell the exact date of their introduction at home. Look for updates.
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