Following an internal business review, Christie's International announces an updated Buyer’s Premium schedule that will result in a modest increase in the fee paid by the successful buyer of an item at auction. Christie’s last updated its Buyer’s Premium fees in October 2013.
For all collecting categories other than Wine, the update to the fee schedule amends the price thresholds at which fees are applied (see detail below) but presents no change to the fee percentages themselves. The new premium rate will be an amount equal to 25% of the hammer price of each lot up to and including £100,000/$150,000; plus 20% of the hammer price from £100,001/$150,001 up to and including £2,000,000/$3,000,000 and 12% above £2,000,001/$3,000,001.
This change effectively widens the thresholds where the percentage fees apply but does not change the percentage rates. These changes will take effect for all auctions occurring on and after September 19, 2016. The new fee schedule follows below. Any timed online-only sale that opens for bidding prior to September 19, 2016, will continue to use the current Buyer’s Premium schedule.
All rates as quoted exclude local sales taxes.
To see the full buyers premium schedule for various currencies: