It has added a new threshold of 27.5% on the first £2500/$3000 of the hammer price.
Christie’s, Sotheby’s and Phillips all raised their buyer’s premium levels in February although without introducing the new 27.5% threshold.
Bonhams' new levels are:
- 27.5% on the first £2500/$3000 of the hammer price;
- 25% of the hammer price of amounts in excess of £2500/$3000 up to and including £300,000/ $400,000;
- 20% of the hammer price of amounts in excess of £300,000/$400,000 up to and including £3m/ $4m;
- 13.9% of the hammer price of any amounts in excess of £3m/$4m.
Bonhams changes apply to all categories excluding cars, motorbikes, wine and coin & medal sales.
Sotheby’s has increased its buyer’s premium to a level that goes beyond the recent changes announced by Christie’s. Christie’s raised its buyer’s premium, increasing the level at which its 25% threshold applies and adding an extra percentage point to its charges above £3m.
The new levels of buyer's premium at Sotheby's, Christie's and Phillips.
Click the links here to see changes for Christie’s buyer’s premium and Sotheby’s and Phillips changes in detail.
