LONDON — Christie’s International has announced a new buyers’ premium for the majority of the firm’s salerooms effective March 1.

While retaining a buyers’ premium of 19.5 percent on the final bid price of each lot up to and including £70,000 ($100/110,000), the buyers’ premium on amounts exceeding £70,000 ($100/110,000) will increase from ten percent to 12 percent. This new buyers’ premium will apply to property sold in the firm’s salerooms at King Street, London; Rockefeller Center, New York; and Geneva, Switzerland.

The buyers’ premium for Christie’s sales in South Kensington will not be affected and will remain at 17.5 percent on lots up to and including £50,000 ($80,000) and ten percent on any amount over £50,000 ($80,000). The buyers’ premium for Christie’s International Motor Cars and Christie’s wine sales as well as the buyers’ premium for all other sale sites also remains unchanged.

Edward Dolman, Christie’s chief executive officer, commented,

All premiums quoted above exclude local sales tax.