Dice
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October 2011
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Karl Read
Artist
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April 2008
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QJG at sothebys, by Karl Read on Sept 21, 2016 11:23:31 GMT 1, I think it will smash that estimate.
I think it will smash that estimate.
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QJG at sothebys, by sixftjellybaby on Sept 21, 2016 11:41:19 GMT 1, Does anyone know what the fees would be to the buyer and seller
Does anyone know what the fees would be to the buyer and seller
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thisisanton
Junior Member
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November 2012
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QJG at sothebys, by thisisanton on Sept 21, 2016 16:27:25 GMT 1, Hammer price £16k
Hammer price £16k
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Deleted
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January 1970
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QJG at sothebys, by Deleted on Sept 21, 2016 16:28:35 GMT 1, £21400
£21400
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corinthia
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November 2015
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QJG at sothebys, by corinthia on Sept 21, 2016 16:39:12 GMT 1, Web says hammer price £20,000
Web says hammer price £20,000
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FЯ
Full Member
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May 2013
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QJG at sothebys, by FЯ on Sept 21, 2016 16:45:03 GMT 1, You are all paying waaaayyyyy too much for your hammers
You are all paying waaaayyyyy too much for your hammers |
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Viking Surfer
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February 2015
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QJG at sothebys, by Viking Surfer on Sept 21, 2016 17:08:14 GMT 1, Hammer was 20 inc premium.
What was the estimate?
Hammer was 20 inc premium.
What was the estimate?
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lee3
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November 2009
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QJG at sothebys, by lee3 on Sept 21, 2016 17:09:07 GMT 1, Does anyone know what the fees would be to the buyer and seller
Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist.
So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23.
edit: viking, the estimate was 10-15.
Does anyone know what the fees would be to the buyer and seller Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15. |
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FЯ
Full Member
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May 2013
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QJG at sothebys, by FЯ on Sept 21, 2016 17:30:17 GMT 1, Does anyone know what the fees would be to the buyer and seller Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15.
So based on another thread for another artist. This is worth £15,200 as nothing else is counted.
even though the seller paid £23k their print is now worth £8.2k less instantly.
no?
👉🏻 www.urbanartassociation.com/post/1521202/thread
Does anyone know what the fees would be to the buyer and seller Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15. So based on another thread for another artist. This is worth £15,200 as nothing else is counted. even though the seller paid £23k their print is now worth £8.2k less instantly. no? 👉🏻 www.urbanartassociation.com/post/1521202/thread |
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loartve
New Member
Posts • 120
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January 2016
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QJG at sothebys, by loartve on Sept 21, 2016 17:51:00 GMT 1, Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15. So based on another thread for another artist. This is worth £15,200 as nothing else is counted. even though the seller paid £23k their print is now worth £8.2k less instantly. no? 👉🏻 www.urbanartassociation.com/post/1521202/thread
Yes if they decided to sell via Christies and the same hammer resulted in the eventual sale. I wouldn't personally use a seller's net proceeds to gauge market value
Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15. So based on another thread for another artist. This is worth £15,200 as nothing else is counted. even though the seller paid £23k their print is now worth £8.2k less instantly. no? 👉🏻 www.urbanartassociation.com/post/1521202/threadYes if they decided to sell via Christies and the same hammer resulted in the eventual sale. I wouldn't personally use a seller's net proceeds to gauge market value |
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Sundowner
Junior Member
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September 2008
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QJG at sothebys, by Sundowner on Sept 21, 2016 17:58:04 GMT 1, Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15. So based on another thread for another artist. This is worth £15,200 as nothing else is counted. even though the seller paid £23k their print is now worth £8.2k less instantly. no? 👉🏻 www.urbanartassociation.com/post/1521202/thread
Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15. So based on another thread for another artist. This is worth £15,200 as nothing else is counted. even though the seller paid £23k their print is now worth £8.2k less instantly. no? 👉🏻 www.urbanartassociation.com/post/1521202/threadAnd that's why it makes no sense to put a print of this value in an auction with these kind of fees or buy via auction as opposed to going to a gallery. The only winner is the house..... |
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lee3
New Member
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November 2009
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QJG at sothebys, by lee3 on Sept 21, 2016 18:16:05 GMT 1, Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15. So based on another thread for another artist. This is worth £15,200 as nothing else is counted. even though the seller paid £23k their print is now worth £8.2k less instantly. no? 👉🏻 www.urbanartassociation.com/post/1521202/thread
I have certainly never suggested as much. I tend to look at auctions as having a premium to secondary sales yet they help set the market. I don't sell much from my collection either but the logic taught to me which I've saluted it is that it's far better to take 10% off the price with premium (if there are enough sales to give a good indication of a market) and sell it there which gives the seller a better return then they could get at auction and the buyer a discount from auction. It leaves meat on the bone so to speak and avoids the delay and anxiety that comes with consigning. But, to be clear, there are a lot of buyers that only buy at auction because they want the provenance established by someone like Christie's where the buyer can put it back to Chrsitie's if there is ever a problem down the line. A lot of people across the globe are delighted to pay that premium which is one of the principle reasons auction prices tend to be higher than secondary market.
Lastly, that advice to slash 10% is probably not acute in this case as that would equate to an 18k sale. From memory these were 15k pieces on secondary but i really don't keep up with secondary (apart from auction results) to any degree and that may have been pre brexit so I'm talking with a finger to the wind here and anything but dictating where the market should be. Rather, just regurgitating the advice I tend to follow. The arguments that often spawn on this site I view as people talking their book which I do my best to avoid but we all have our biases.
Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15. So based on another thread for another artist. This is worth £15,200 as nothing else is counted. even though the seller paid £23k their print is now worth £8.2k less instantly. no? 👉🏻 www.urbanartassociation.com/post/1521202/threadI have certainly never suggested as much. I tend to look at auctions as having a premium to secondary sales yet they help set the market. I don't sell much from my collection either but the logic taught to me which I've saluted it is that it's far better to take 10% off the price with premium (if there are enough sales to give a good indication of a market) and sell it there which gives the seller a better return then they could get at auction and the buyer a discount from auction. It leaves meat on the bone so to speak and avoids the delay and anxiety that comes with consigning. But, to be clear, there are a lot of buyers that only buy at auction because they want the provenance established by someone like Christie's where the buyer can put it back to Chrsitie's if there is ever a problem down the line. A lot of people across the globe are delighted to pay that premium which is one of the principle reasons auction prices tend to be higher than secondary market. Lastly, that advice to slash 10% is probably not acute in this case as that would equate to an 18k sale. From memory these were 15k pieces on secondary but i really don't keep up with secondary (apart from auction results) to any degree and that may have been pre brexit so I'm talking with a finger to the wind here and anything but dictating where the market should be. Rather, just regurgitating the advice I tend to follow. The arguments that often spawn on this site I view as people talking their book which I do my best to avoid but we all have our biases. |
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milo99
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December 2015
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QJG at sothebys, by milo99 on Sept 21, 2016 18:55:09 GMT 1, Christies made £7000? Seems high, nearly 50% what the seller got
Christies made £7000? Seems high, nearly 50% what the seller got
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Deleted
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January 1970
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QJG at sothebys, by Deleted on Sept 21, 2016 19:34:07 GMT 1, Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15. So based on another thread for another artist. This is worth £15,200 as nothing else is counted. even though the seller paid £23k their print is now worth £8.2k less instantly. no? 👉🏻 www.urbanartassociation.com/post/1521202/thread
As with most things the truth lies somewhere on the middle. Somewhere between what the buyer paid and what the seller accepted as payment being that they are both different values. I don't think either one alone dictates value.
Yes, Christie's charges the seller 25% premium on the hammer (16k) so the price with premium to the buyer is 20k. Then Christies charges the buyer an additional 4% artist resale rights on the hammer price and delivers that charge to pest control. And finally, the buyer pays for shipping and any import taxes depending upon their place of residence (if it were me in CA (it wasn't), I'd be paying another 9%). Christie's will ask for a 10% fee from the seller but that is negotiable and for something like this you can expect the seller paid 5 or 6% of the hammer if this is all they consigned. If their consignments are approaching 50k+ in value, then they should be paying a few points at most. If they have friends at Christie's, consign regularly, or consign art worth ~100k they should have no difficulty getting their sellers fees waved for a high demand artist. So a fair guesstimate is that the seller received ~15.2 (if this is all they consigned) and the buyer paid upwards of ~22/23. edit: viking, the estimate was 10-15. So based on another thread for another artist. This is worth £15,200 as nothing else is counted. even though the seller paid £23k their print is now worth £8.2k less instantly. no? 👉🏻 www.urbanartassociation.com/post/1521202/threadAs with most things the truth lies somewhere on the middle. Somewhere between what the buyer paid and what the seller accepted as payment being that they are both different values. I don't think either one alone dictates value. |
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Dice
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October 2011
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QJG at sothebys, by Dice on Sept 22, 2016 11:14:03 GMT 1, I'm not sure how many were bidding but it's safe to say there were at at least 2 people willing to pay over £20000 for this print. so there are buyers at that level.
There are certainly many wealthy people out there looking for banksy prints who wouldn't dream of buying on eBay, have probably never heard of this forum, and probably don't know where to start when it comes to galleries. So the auction route is the best for them.
I'm not sure how many were bidding but it's safe to say there were at at least 2 people willing to pay over £20000 for this print. so there are buyers at that level.
There are certainly many wealthy people out there looking for banksy prints who wouldn't dream of buying on eBay, have probably never heard of this forum, and probably don't know where to start when it comes to galleries. So the auction route is the best for them.
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FЯ
Full Member
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May 2013
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QJG at sothebys, by FЯ on Sept 22, 2016 13:11:48 GMT 1, I'm not sure how many were bidding but it's safe to say there were at at least 2 people willing to pay over £20000 for this print. so there are buyers at that level. There are certainly many wealthy people out there looking for banksy prints who wouldn't dream of buying on eBay, have probably never heard of this forum, and probably don't know where to start when it comes to galleries. So the auction route is the best for them.
Well thats confusing, as on the stik thread all of a sudden that was not counted. Wish people would make their minds up which artists this applies to.
I'm not sure how many were bidding but it's safe to say there were at at least 2 people willing to pay over £20000 for this print. so there are buyers at that level. There are certainly many wealthy people out there looking for banksy prints who wouldn't dream of buying on eBay, have probably never heard of this forum, and probably don't know where to start when it comes to galleries. So the auction route is the best for them. Well thats confusing, as on the stik thread all of a sudden that was not counted. Wish people would make their minds up which artists this applies to. |
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