19818914
Junior Member
๐จ๏ธ 1,337
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October 2018
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by 19818914 on Mar 8, 2019 22:25:35 GMT 1, Contacted Bonham's specialist today to ask about the Hook. Was told there are quite a few post sales offers in and to have a chance I would have to offer 'comfortably' over the low estimate to have any chance! Shame, thought it could have been got for less than low estimate.
Would you still have to pay the buyers premium on top?
Contacted Bonham's specialist today to ask about the Hook. Was told there are quite a few post sales offers in and to have a chance I would have to offer 'comfortably' over the low estimate to have any chance! Shame, thought it could have been got for less than low estimate. Would you still have to pay the buyers premium on top? |
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.dappy
Full Member
๐จ๏ธ 9,841
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December 2010
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by .dappy on Mar 8, 2019 22:47:56 GMT 1, Contacted Bonham's specialist today to ask about the Hook. Was told there are quite a few post sales offers in and to have a chance I would have to offer 'comfortably' over the low estimate to have any chance! Shame, thought it could have been got for less than low estimate.
... so in effect they are now holding a blind auction off line ... with the starting bid higher that the auction bid price ... brilliant ...
Contacted Bonham's specialist today to ask about the Hook. Was told there are quite a few post sales offers in and to have a chance I would have to offer 'comfortably' over the low estimate to have any chance! Shame, thought it could have been got for less than low estimate. ... so in effect they are now holding a blind auction off line ... with the starting bid higher that the auction bid price ... brilliant ... |
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Harveyn
Full Member
๐จ๏ธ 7,746
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July 2007
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Harveyn on Mar 8, 2019 23:22:48 GMT 1, This dog will have his day.
I remember offering $100k plus fees for a Condo canvas at Sotheby's that failed to reach that low estimate. It was turned down. Several years later the canvas sold for several multiples and 5 years later its probably now worth $650k+
Not every piece that does not sell at auction is burnt, not even short term.
Bowies Basquiat sold in 1989 for $350k, Bowie bought it in 1995 for $132k and in 2016 it was sold for over $9m.
The seller and Bonhams are quite right not to sell this work cheap. IMO.
This dog will have his day.
I remember offering $100k plus fees for a Condo canvas at Sotheby's that failed to reach that low estimate. It was turned down. Several years later the canvas sold for several multiples and 5 years later its probably now worth $650k+
Not every piece that does not sell at auction is burnt, not even short term.
Bowies Basquiat sold in 1989 for $350k, Bowie bought it in 1995 for $132k and in 2016 it was sold for over $9m.
The seller and Bonhams are quite right not to sell this work cheap. IMO.
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lee3
New Member
๐จ๏ธ 832
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November 2009
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by lee3 on Mar 9, 2019 0:33:39 GMT 1, Contacted Bonham's specialist today to ask about the Hook. Was told there are quite a few post sales offers in and to have a chance I would have to offer 'comfortably' over the low estimate to have any chance! Shame, thought it could have been got for less than low estimate. Would you still have to pay the buyers premium on top?
Reading Dappy's comment after yours, I, for one, would not call this a blind auction. The house continues to solicit bids and they will select the highest depending on many circumstances. Unlike blind auctions where you submit one bid, bidders may continue to raise offers. Sometimes they'll sell it to the first person who bids the reserve (plus premium), other times they'll work it for a couple weeks but this is generally with input from the consignor so not blind per se as once it gets above the reserve then all after sale bidders know that it will be sold.
As an example, I recall about a decade ago in the depths of the last correction a tiny red keep it real monkey on canvas passing at one of the houses with a 12-15k gbp estimate (form memory). I enquired as did a friend and at least another, unknown (to us) bidder. Once the friend and i put one and one together that we were bidding against each other, I bowed out. He kept at it and eventually lost to the other bidder at ~25k gbp from memory which was considerably more than the high estimate from the actual sale. Point being, I feel comfortable taking the house (if it's christie's, sotheby's, phillips or bonahms) at their word on a post sale transaction as they want the sale as does the consignor. It often behooves someone interested to just cut to the chase and ask at what price can the house sell it? Frankly, I'd be surprised if either of the banksy's that passed this week are returned to the consignors as post sale transactions on unsold lots are the norm these days.
Contacted Bonham's specialist today to ask about the Hook. Was told there are quite a few post sales offers in and to have a chance I would have to offer 'comfortably' over the low estimate to have any chance! Shame, thought it could have been got for less than low estimate. Would you still have to pay the buyers premium on top? Yes, the house still collects the same buyers premium. It's typical for works to have significant post sale interest in high profile names. Picture dealers galore thinking they can pick off something inexpensive and offer in the gallery bringing welcome attention and hopes for a profit. Reading Dappy's comment after yours, I, for one, would not call this a blind auction. The house continues to solicit bids and they will select the highest depending on many circumstances. Unlike blind auctions where you submit one bid, bidders may continue to raise offers. Sometimes they'll sell it to the first person who bids the reserve (plus premium), other times they'll work it for a couple weeks but this is generally with input from the consignor so not blind per se as once it gets above the reserve then all after sale bidders know that it will be sold. As an example, I recall about a decade ago in the depths of the last correction a tiny red keep it real monkey on canvas passing at one of the houses with a 12-15k gbp estimate (form memory). I enquired as did a friend and at least another, unknown (to us) bidder. Once the friend and i put one and one together that we were bidding against each other, I bowed out. He kept at it and eventually lost to the other bidder at ~25k gbp from memory which was considerably more than the high estimate from the actual sale. Point being, I feel comfortable taking the house (if it's christie's, sotheby's, phillips or bonahms) at their word on a post sale transaction as they want the sale as does the consignor. It often behooves someone interested to just cut to the chase and ask at what price can the house sell it? Frankly, I'd be surprised if either of the banksy's that passed this week are returned to the consignors as post sale transactions on unsold lots are the norm these days. |
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blerd
Junior Member
๐จ๏ธ 1,350
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November 2016
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by blerd on Mar 9, 2019 1:04:31 GMT 1, Would you still have to pay the buyers premium on top? Yes, the house still collects the same buyers premium. It's typical for works to have significant post sale interest in high profile names. Picture dealers galore thinking they can pick off something inexpensive and offer in the gallery bringing welcome attention and hopes for a profit. Reading Dappy's comment after yours, I, for one, would not call this a blind auction. The house continues to solicit bids and they will select the highest depending on many circumstances. Unlike blind auctions where you submit one bid, bidders may continue to raise offers. Sometimes they'll sell it to the first person who bids the reserve (plus premium), other times they'll work it for a couple weeks but this is generally with input from the consignor so not blind per se as once it gets above the reserve then all after sale bidders know that it will be sold. As an example, I recall about a decade ago in the depths of the last correction a tiny red keep it real monkey on canvas passing at one of the houses with a 12-15k gbp estimate (form memory). I enquired as did a friend and at least another, unknown (to us) bidder. Once the friend and i put one and one together that we were bidding against each other, I bowed out. He kept at it and eventually lost to the other bidder at ~25k gbp from memory which was considerably more than the high estimate from the actual sale. Point being, I feel comfortable taking the house (if it's christie's, sotheby's, phillips or bonahms) at their word on a post sale transaction as they want the sale as does the consignor. It often behooves someone interested to just cut to the chase and ask at what price can the house sell it? Frankly, I'd be surprised if either of the banksy's that passed this week are returned to the consignors as post sale transactions on unsold lots are the norm these days.
Would you still have to pay the buyers premium on top? Yes, the house still collects the same buyers premium. It's typical for works to have significant post sale interest in high profile names. Picture dealers galore thinking they can pick off something inexpensive and offer in the gallery bringing welcome attention and hopes for a profit. Reading Dappy's comment after yours, I, for one, would not call this a blind auction. The house continues to solicit bids and they will select the highest depending on many circumstances. Unlike blind auctions where you submit one bid, bidders may continue to raise offers. Sometimes they'll sell it to the first person who bids the reserve (plus premium), other times they'll work it for a couple weeks but this is generally with input from the consignor so not blind per se as once it gets above the reserve then all after sale bidders know that it will be sold. As an example, I recall about a decade ago in the depths of the last correction a tiny red keep it real monkey on canvas passing at one of the houses with a 12-15k gbp estimate (form memory). I enquired as did a friend and at least another, unknown (to us) bidder. Once the friend and i put one and one together that we were bidding against each other, I bowed out. He kept at it and eventually lost to the other bidder at ~25k gbp from memory which was considerably more than the high estimate from the actual sale. Point being, I feel comfortable taking the house (if it's christie's, sotheby's, phillips or bonahms) at their word on a post sale transaction as they want the sale as does the consignor. It often behooves someone interested to just cut to the chase and ask at what price can the house sell it? Frankly, I'd be surprised if either of the banksy's that passed this week are returned to the consignors as post sale transactions on unsold lots are the norm these days. Thanks Lee, that was an interesting read. Its a shame the post sale isn't recorded for future reference. |
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19818914
Junior Member
๐จ๏ธ 1,337
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October 2018
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by 19818914 on Mar 9, 2019 1:05:11 GMT 1, Would you still have to pay the buyers premium on top? Yes, the house still collects the same buyers premium. It's typical for works to have significant post sale interest in high profile names. Picture dealers galore thinking they can pick off something inexpensive and offer in the gallery bringing welcome attention and hopes for a profit. Reading Dappy's comment after yours, I, for one, would not call this a blind auction. The house continues to solicit bids and they will select the highest depending on many circumstances. Unlike blind auctions where you submit one bid, bidders may continue to raise offers. Sometimes they'll sell it to the first person who bids the reserve (plus premium), other times they'll work it for a couple weeks but this is generally with input from the consignor so not blind per se as once it gets above the reserve then all after sale bidders know that it will be sold. As an example, I recall about a decade ago in the depths of the last correction a tiny red keep it real monkey on canvas passing at one of the houses with a 12-15k gbp estimate (form memory). I enquired as did a friend and at least another, unknown (to us) bidder. Once the friend and i put one and one together that we were bidding against each other, I bowed out. He kept at it and eventually lost to the other bidder at ~25k gbp from memory which was considerably more than the high estimate from the actual sale. Point being, I feel comfortable taking the house (if it's christie's, sotheby's, phillips or bonahms) at their word on a post sale transaction as they want the sale as does the consignor. It often behooves someone interested to just cut to the chase and ask at what price can the house sell it? Frankly, I'd be surprised if either of the banksy's that passed this week are returned to the consignors as post sale transactions on unsold lots are the norm these days.
Thank you for explaining that.
Now if anyone who owns this cross figurine has a high resolution photographs to share, could you please dm me?
I appreciate it.
Would you still have to pay the buyers premium on top? Yes, the house still collects the same buyers premium. It's typical for works to have significant post sale interest in high profile names. Picture dealers galore thinking they can pick off something inexpensive and offer in the gallery bringing welcome attention and hopes for a profit. Reading Dappy's comment after yours, I, for one, would not call this a blind auction. The house continues to solicit bids and they will select the highest depending on many circumstances. Unlike blind auctions where you submit one bid, bidders may continue to raise offers. Sometimes they'll sell it to the first person who bids the reserve (plus premium), other times they'll work it for a couple weeks but this is generally with input from the consignor so not blind per se as once it gets above the reserve then all after sale bidders know that it will be sold. As an example, I recall about a decade ago in the depths of the last correction a tiny red keep it real monkey on canvas passing at one of the houses with a 12-15k gbp estimate (form memory). I enquired as did a friend and at least another, unknown (to us) bidder. Once the friend and i put one and one together that we were bidding against each other, I bowed out. He kept at it and eventually lost to the other bidder at ~25k gbp from memory which was considerably more than the high estimate from the actual sale. Point being, I feel comfortable taking the house (if it's christie's, sotheby's, phillips or bonahms) at their word on a post sale transaction as they want the sale as does the consignor. It often behooves someone interested to just cut to the chase and ask at what price can the house sell it? Frankly, I'd be surprised if either of the banksy's that passed this week are returned to the consignors as post sale transactions on unsold lots are the norm these days. Thank you for explaining that. Now if anyone who owns this cross figurine has a high resolution photographs to share, could you please dm me? I appreciate it. |
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blerd
Junior Member
๐จ๏ธ 1,350
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November 2016
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by blerd on Mar 9, 2019 1:07:25 GMT 1, This dog will have his day. I remember offering $100k plus fees for a Condo canvas at Sotheby's that failed to reach that low estimate. It was turned down. Several years later the canvas sold for several multiples and 5 years later its probably now worth $650k+ Not every piece that does not sell at auction is burnt, not even short term. Bowies Basquiat sold in 1989 for $350k, Bowie bought it in 1995 for $132k and in 2016 it was sold for over $9m. The seller and Bonhams are quite right not to sell this work cheap. IMO.
This dog will have his day. I remember offering $100k plus fees for a Condo canvas at Sotheby's that failed to reach that low estimate. It was turned down. Several years later the canvas sold for several multiples and 5 years later its probably now worth $650k+ Not every piece that does not sell at auction is burnt, not even short term. Bowies Basquiat sold in 1989 for $350k, Bowie bought it in 1995 for $132k and in 2016 it was sold for over $9m. The seller and Bonhams are quite right not to sell this work cheap. IMO. Did you manage to get a Condo canvas elsewhere? Amazing Artist. |
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Arty Farty 15 on Mar 9, 2019 4:15:07 GMT 1, ADMIN PLS LOCK THIS THREAD ITS GETTING VERY PETTY AND VERY BORING.
ADMIN PLS LOCK THIS THREAD ITS GETTING VERY PETTY AND VERY BORING.
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Deleted
๐จ๏ธ 0
๐๐ป
January 1970
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Deleted on Mar 9, 2019 11:33:12 GMT 1, Contacted Bonham's specialist today to ask about the Hook. Was told there are quite a few post sales offers in and to have a chance I would have to offer 'comfortably' over the low estimate to have any chance! Shame, thought it could have been got for less than low estimate.
Contacted Bonham's specialist today to ask about the Hook. Was told there are quite a few post sales offers in and to have a chance I would have to offer 'comfortably' over the low estimate to have any chance! Shame, thought it could have been got for less than low estimate. So let me get this straight. Something fails to sell at considerably less than the low estimate but then the auction house expects someone to pay considerably more than the low estimate. How odd. |
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Dunning Kruger on Mar 9, 2019 13:41:00 GMT 1, I am not surprised this didn't sell. As an artist, with the probable exception of the Bronze Rat, Banksy's art does not translate well in to sculptural form. To a serious collector, that Crucifix has several challenges to it, firstly the religious issue, not many collectors would want to have a Crucifix hanging on their wall. Secondly, the political message, it has no narrative to it to support it, therefore renders it weak, thirdly, what do you actually consider the more interesting work to display, the cross or the box, or as some have suggested, cut the box in to 4, therefore makes each component as weak as the other. To a seasoned collector, they will consider all these factors and make their choice whether to bid or not. I was offered one of these at the time of release, and for the reasons mentioned above, I turned it down.
You have to buy the art because you like it, and not because of the artist.
I am not surprised this didn't sell. As an artist, with the probable exception of the Bronze Rat, Banksy's art does not translate well in to sculptural form. To a serious collector, that Crucifix has several challenges to it, firstly the religious issue, not many collectors would want to have a Crucifix hanging on their wall. Secondly, the political message, it has no narrative to it to support it, therefore renders it weak, thirdly, what do you actually consider the more interesting work to display, the cross or the box, or as some have suggested, cut the box in to 4, therefore makes each component as weak as the other. To a seasoned collector, they will consider all these factors and make their choice whether to bid or not. I was offered one of these at the time of release, and for the reasons mentioned above, I turned it down.
You have to buy the art because you like it, and not because of the artist.
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abacus
New Member
๐จ๏ธ 36
๐๐ป 167
April 2014
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by abacus on Mar 9, 2019 16:26:10 GMT 1, Maybe... There were no true collector interest on the night. But lets say there were dealer interest. As a dealer you want to buy on the bid and sell on the offer. Hence, when no one bids in the room, there is no upside for you to do so, when you can potentially pick it up quietly at the reserve (bid side) in the after sale. If two (or more) dealers think like that, the actual clearing price in the after sale could be higher (as it sounds like was the case here).
There is also a reason, perversely, why a dealer might actually like this result. I imagine dealer inventories is in general low. Hence a registered no sale could scare some less seasoned holders of this edition to get out (privately) for only a small profit.
You obviously have to believe strongly in the (future of the) Banksy market for this to make sense.
Maybe... There were no true collector interest on the night. But lets say there were dealer interest. As a dealer you want to buy on the bid and sell on the offer. Hence, when no one bids in the room, there is no upside for you to do so, when you can potentially pick it up quietly at the reserve (bid side) in the after sale. If two (or more) dealers think like that, the actual clearing price in the after sale could be higher (as it sounds like was the case here).
There is also a reason, perversely, why a dealer might actually like this result. I imagine dealer inventories is in general low. Hence a registered no sale could scare some less seasoned holders of this edition to get out (privately) for only a small profit.
You obviously have to believe strongly in the (future of the) Banksy market for this to make sense.
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19818914
Junior Member
๐จ๏ธ 1,337
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October 2018
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by 19818914 on Mar 27, 2019 18:23:19 GMT 1, Damn good price. Just not the right timing for me.
Damn good price. Just not the right timing for me.
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Deleted
๐จ๏ธ 0
๐๐ป
January 1970
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Deleted on Mar 27, 2019 19:11:55 GMT 1, Showing as sold on their website. that must have been one of the post sale offers.... BANKSY (British, born 1975) Grappling Hook 2017 Sold for ยฃ 83,306 inc. premium
So seller
ยฃ83306 - 30% (buyers fees) -10% (sellers fees) less vat on the fees @ 20% = a cheque to the seller for............................. ยฃ87.50p
Showing as sold on their website. that must have been one of the post sale offers.... BANKSY (British, born 1975) Grappling Hook 2017 Sold for ยฃ 83,306 inc. premium So seller ยฃ83306 - 30% (buyers fees) -10% (sellers fees) less vat on the fees @ 20% = a cheque to the seller for............................. ยฃ87.50p |
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Deleted
๐จ๏ธ 0
๐๐ป
January 1970
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Deleted on Mar 27, 2019 19:53:52 GMT 1, Showing as sold on their website. that must have been one of the post sale offers.... BANKSY (British, born 1975) Grappling Hook 2017 Sold for ยฃ 83,306 inc. premium So seller ยฃ83306 - 30% (buyers fees) -10% (sellers fees) less vat on the fees @ 20% = a cheque to the seller for............................. ยฃ87.50p
Sellers don't get charged the buyer's fees, do they?
Showing as sold on their website. that must have been one of the post sale offers.... BANKSY (British, born 1975) Grappling Hook 2017 Sold for ยฃ 83,306 inc. premium So seller ยฃ83306 - 30% (buyers fees) -10% (sellers fees) less vat on the fees @ 20% = a cheque to the seller for............................. ยฃ87.50p You are not adding 30% plus 10% plus VAT, are you? Sellers don't get charged the buyer's fees, do they? |
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moron
Junior Member
๐จ๏ธ 2,711
๐๐ป 1,051
September 2017
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by moron on Mar 27, 2019 22:08:46 GMT 1, This dog will have his day. I remember offering $100k plus fees for a Condo canvas at Sotheby's that failed to reach that low estimate. It was turned down. Several years later the canvas sold for several multiples and 5 years later its probably now worth $650k+ Not every piece that does not sell at auction is burnt, not even short term. Bowies Basquiat sold in 1989 for $350k, Bowie bought it in 1995 for $132k and in 2016 it was sold for over $9m. The seller and Bonhams are quite right not to sell this work cheap. IMO.
Regarding prices. Provenance is everything.
This dog will have his day. I remember offering $100k plus fees for a Condo canvas at Sotheby's that failed to reach that low estimate. It was turned down. Several years later the canvas sold for several multiples and 5 years later its probably now worth $650k+ Not every piece that does not sell at auction is burnt, not even short term. Bowies Basquiat sold in 1989 for $350k, Bowie bought it in 1995 for $132k and in 2016 it was sold for over $9m. The seller and Bonhams are quite right not to sell this work cheap. IMO. It means nothing. One could buy a Degas original painting for 22K in 1977. Regarding prices. Provenance is everything. |
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moron
Junior Member
๐จ๏ธ 2,711
๐๐ป 1,051
September 2017
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by moron on Mar 27, 2019 22:11:21 GMT 1, Contacted Bonham's specialist today to ask about the Hook. Was told there are quite a few post sales offers in and to have a chance I would have to offer 'comfortably' over the low estimate to have any chance! Shame, thought it could have been got for less than low estimate. So let me get this straight. Something fails to sell at considerably less than the low estimate but then the auction house expects someone to pay considerably more than the low estimate. How odd.
Contacted Bonham's specialist today to ask about the Hook. Was told there are quite a few post sales offers in and to have a chance I would have to offer 'comfortably' over the low estimate to have any chance! Shame, thought it could have been got for less than low estimate. So let me get this straight. Something fails to sell at considerably less than the low estimate but then the auction house expects someone to pay considerably more than the low estimate. How odd. In other words the auction house behaving more like a shop or a gallery than an auction. Quite a few auction houses have art that fails to sell because they set retail prices. |
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moron
Junior Member
๐จ๏ธ 2,711
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September 2017
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by moron on Mar 27, 2019 22:13:27 GMT 1, That buyers premium is a racket. 25% regardless whether the art sells for 2.5K or 250K is money for old rope. The auction hose does not work a hundred times harder to sell something for 250K than it does for 2.5K.
Lets see if some forum mod deletes this.
That buyers premium is a racket. 25% regardless whether the art sells for 2.5K or 250K is money for old rope. The auction hose does not work a hundred times harder to sell something for 250K than it does for 2.5K.
Lets see if some forum mod deletes this.
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moron
Junior Member
๐จ๏ธ 2,711
๐๐ป 1,051
September 2017
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by moron on Mar 27, 2019 22:31:57 GMT 1, My calculation is this........... Sale price ยฃ64'000 +25% buyers premium ยฃ16'000 = ยฃ80'000. Vat of 20% on ยฃ16'000 = ยฃ3200 Total ยฃ83'200 = close enough
and the seller pays tax on their profit. Or maybe not.
My calculation is this........... Sale price ยฃ64'000 +25% buyers premium ยฃ16'000 = ยฃ80'000. Vat of 20% on ยฃ16'000 = ยฃ3200 Total ยฃ83'200 = close enough and the seller pays tax on their profit. Or maybe not. |
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irl1
Full Member
๐จ๏ธ 9,274
๐๐ป 9,381
December 2017
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by irl1 on Mar 27, 2019 22:33:12 GMT 1, My calculation is this........... Sale price ยฃ64'000 +25% buyers premium ยฃ16'000 = ยฃ80'000. Vat of 20% on ยฃ16'000 = ยฃ3200 Total ยฃ83'200 = close enough
Noting wrong with that return for the length of time they had it
My calculation is this........... Sale price ยฃ64'000 +25% buyers premium ยฃ16'000 = ยฃ80'000. Vat of 20% on ยฃ16'000 = ยฃ3200 Total ยฃ83'200 = close enough So the seller gets 64,000 less fees. Noting wrong with that return for the length of time they had it |
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Deleted
๐จ๏ธ 0
๐๐ป
January 1970
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Deleted on Mar 28, 2019 12:20:45 GMT 1, You are not adding 30% plus 10% plus VAT, are you? Sellers don't get charged the buyer's fees, do they? since when is the minus sign adding ?
You are not adding 30% plus 10% plus VAT, are you? Sellers don't get charged the buyer's fees, do they? since when is the minus sign adding ? Manty is talking about how much cash the seller ends up with. He seems to be taking the hammer price then taking away the buyers premium. Or am I misreading it? |
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Dexter Bulldog on Mar 28, 2019 12:31:35 GMT 1, since when is the minus sign adding ? Manty is talking about how much cash the seller ends up with. He seems to be taking the hammer price then taking away the buyers premium. Or am I misreading it?
since when is the minus sign adding ? Manty is talking about how much cash the seller ends up with. He seems to be taking the hammer price then taking away the buyers premium. Or am I misreading it? nope thats correct, you could point out two numbers- what the buyer paid or the seller achieved and he seems to focus on the latter |
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Dexter Bulldog on Mar 28, 2019 12:33:40 GMT 1, Showing as sold on their website. that must have been one of the post sale offers.... BANKSY (British, born 1975) Grappling Hook 2017 Sold for ยฃ 83,306 inc. premium i dont know how to quote two posts but this was mine from march 6th for a public self back patting: Iโm in the sub 100 crowd, will guess 80k
Showing as sold on their website. that must have been one of the post sale offers.... BANKSY (British, born 1975) Grappling Hook 2017 Sold for ยฃ 83,306 inc. premium i dont know how to quote two posts but this was mine from march 6th for a public self back patting: Iโm in the sub 100 crowd, will guess 80k
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Deleted
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January 1970
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Deleted on Mar 28, 2019 13:33:44 GMT 1, since when is the minus sign adding ? Manty is talking about how much cash the seller ends up with. He seems to be taking the hammer price then taking away the buyers premium. Or am I misreading it? there was no hammer but the ยฃ83k does say that it included premium.
If that is the case, then the actual sale price would be ยฃ83k minus buyers fees, say 30%, then the seller has to pay his sellers fees on that actual sale price, say 10%, and that would be roughly what the seller took home give or take VAT on fees and any tax that may be incurred for the profit, always assuming he had any profit.
since when is the minus sign adding ? Manty is talking about how much cash the seller ends up with. He seems to be taking the hammer price then taking away the buyers premium. Or am I misreading it? there was no hammer but the ยฃ83k does say that it included premium.
If that is the case, then the actual sale price would be ยฃ83k minus buyers fees, say 30%, then the seller has to pay his sellers fees on that actual sale price, say 10%, and that would be roughly what the seller took home give or take VAT on fees and any tax that may be incurred for the profit, always assuming he had any profit.
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Unica
Junior Member
๐จ๏ธ 2,076
๐๐ป 1,232
November 2013
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by Unica on Mar 28, 2019 14:19:20 GMT 1, Seems odd that they can update the auction with a price after it didn't sell on the night, but I don't know much about the auction game and how after sales get recorded. Either way pretty disappointing result I for Hook owners, a far cry from the ยฃ250k+ people were predicting. I'm not surprised though, difficult piece to display.
Seems odd that they can update the auction with a price after it didn't sell on the night, but I don't know much about the auction game and how after sales get recorded. Either way pretty disappointing result I for Hook owners, a far cry from the ยฃ250k+ people were predicting. I'm not surprised though, difficult piece to display.
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irl1
Full Member
๐จ๏ธ 9,274
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December 2017
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blerd
Junior Member
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November 2016
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by blerd on Apr 29, 2019 23:13:06 GMT 1, That condo bronze! What I'd do to own that. Beautiful.
That condo bronze! What I'd do to own that. Beautiful. |
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irl1
Full Member
๐จ๏ธ 9,274
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December 2017
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by irl1 on Sept 2, 2019 21:47:02 GMT 1, Bonhams
Prints and Multiples
19th Sep 2019, starting at 13:00 BST .
London, Knightsbridge
Banksy, Damien Hirst, The Connor Brothers, David Shrigley, Julian Opie, Faile, Invader, Tracey Emin
www.bonhams.com/auctions/25381/#/aa0=1&MR0_length=349&w0=list&m0=0
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irl1
Full Member
๐จ๏ธ 9,274
๐๐ป 9,381
December 2017
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irl1
Full Member
๐จ๏ธ 9,274
๐๐ป 9,381
December 2017
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irl1
Full Member
๐จ๏ธ 9,274
๐๐ป 9,381
December 2017
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Bonhams โข Art Auctions โข London ๐ฌ๐ง, by irl1 on Sept 19, 2019 9:17:32 GMT 1,
Today
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