Sotheby's has followed Christie's lead in raising the buyer's premium for low-end purchases.
Sotheby's made the change to its buyer's premium effective September 1.
Previously, the buyer's premium charged on auction sales was generally 20 percent of the hammer price on the first $500,000 and 12 percent of any remaining amount over $500,000 on each lot.
The new structure is 25 percent on the first $20,000; 20 percent above $20,000 up to including $500,000; and 12 percent on the remaining amount
For information, 212-606-7000 or
www.sothebys.com
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