Forum Auctions • Banksy Marketplace 🇬🇧, by Pattycakes on Feb 5, 2022 11:15:53 GMT 1,

Feb 5, 2022 10:54:10 GMT 1 JFCC said:

Sorry to be a pedant but neither of the above is right.

Here is a simple guide to calculate 'All Up" to Hammer prices I use HP as an expected return to the seller +/- 3% but would expect many to sell without a sellers premium.

Buyers Premium is 25% of the Hammer Price up to £300k plus VAT and 20% of the Hammer Price from £300k to £3.0m plus VAT.

Therefore up to £300k the premium is 30%. If you are overseas you will not pay VAT but you almost always will pay an import duty which is sometimes higher than our rate of VAT.

Some auction houses charge an extra 1% administration fee as well.

ARR is then charged and it is is capped at £12.5k. It is calculated in Euros and then converted to £. It is t 4% of the Hammer Price up to €50k, 3% from €50k to €200k, 1% €200k to €350k and 0.5% from €350k to €500k, 0.25% above €500k.

All the above is brings the “All Up” back to the Hammer Price. I use an average of 34% as it is close enough.

The seller then will receive that amount in full, the hammer price, unless there is Sellers premium.

With the big 4 Auction houses this can be as high as 8% but normally it will be a less and depending on a number of factors it will be nil. It is not unheard of to get a reverse premium for special pieces and customers. The rate you pay will depend on your tenacity and what you have to sell.

So as to confirm that here are the exact words from Forums T&Cs.

“We will charge you a Commission on the sale of any Lot calculated as a percentage of the Hammer Price at the rates set out in the Consignment Agreement (which, for the avoidance of doubt, may be zero).”

So my advice to get a fair view of what a buyer will get is to look at hammer price. The seller of NBG will have got close to £74k in my view.

Sorry if this has bored everyone to sleep!!

I think you mean close to £64K, the Hammer price on the NBG was £64 

Feb 5, 2022 10:54:10 GMT 1 JFCC said:

Sorry to be a pedant but neither of the above is right.

Here is a simple guide to calculate 'All Up" to Hammer prices I use HP as an expected return to the seller +/- 3% but would expect many to sell without a sellers premium.

Buyers Premium is 25% of the Hammer Price up to £300k plus VAT and 20% of the Hammer Price from £300k to £3.0m plus VAT.

Therefore up to £300k the premium is 30%. If you are overseas you will not pay VAT but you almost always will pay an import duty which is sometimes higher than our rate of VAT.

Some auction houses charge an extra 1% administration fee as well.

ARR is then charged and it is is capped at £12.5k. It is calculated in Euros and then converted to £. It is t 4% of the Hammer Price up to €50k, 3% from €50k to €200k, 1% €200k to €350k and 0.5% from €350k to €500k, 0.25% above €500k.

All the above is brings the “All Up” back to the Hammer Price. I use an average of 34% as it is close enough.

The seller then will receive that amount in full, the hammer price, unless there is Sellers premium.

With the big 4 Auction houses this can be as high as 8% but normally it will be a less and depending on a number of factors it will be nil. It is not unheard of to get a reverse premium for special pieces and customers. The rate you pay will depend on your tenacity and what you have to sell.

So as to confirm that here are the exact words from Forums T&Cs.

“We will charge you a Commission on the sale of any Lot calculated as a percentage of the Hammer Price at the rates set out in the Consignment Agreement (which, for the avoidance of doubt, may be zero).”

So my advice to get a fair view of what a buyer will get is to look at hammer price. The seller of NBG will have got close to £74k in my view.

Sorry if this has bored everyone to sleep!!

I think you mean close to £64K, the Hammer price on the NBG was £64