Enjoy unlimited access: just £1 for 12 weeks

Subscribe now

25% - up to £50,000/$100,000

20% - £50,001/$100,001 up to £1m/$2m

12% - thereafter

This brings them in line with Sotheby's, who adopted this structure in the spring, and Bonhams, who announced the change last week.

Prior to this all three auction houses were operating at different thresholds within the 25/20/12% premium structure.