Following changes at Sotheby’s, Christie’s and Phillips, Bonhams has adjusted the price thresholds for its buyers’ premium.
Bonhams’ new fees schedule applies from November 1. The last time the company amended its buyer’s premium was in September 2016. Global CEO of Bonhams Matthew Girling said: “This change reflects the current market and is an important part of maintaining our global competitiveness.”
The new thresholds are:
- 25% – up to £175,000
- 20% – from £175,000 up to £3m
- 12.5% - thereafter
Sotheby’s new rates which are also effective from November are:
- 25% – up to £180,000
- 20% – from £180,000 up to £2m
- 12.9% – thereafter
The buyer’s premium thresholds applied at Bonhams’ overseas salerooms are also changing as follows:
US
- 25% – up to $250,000
- 20% – from $250,000 to $4m
- 12.5% – thereafter
Europe
- 25% – up to €150,000
- 20% – from €150,000 to €2m
- 12.5% – thereafter
Hong Kong
- 25% – up to HK$2m
- 20% – from HK$2m to HK$3m
- 12.5% – thereafter
Bonhams’ premium applied to wine sales will become 19.5% in the UK and 22.5% in the USA and Hong Kong.
None of the changes apply to sales of motor cars, coins and medals which have different premium levels.
