daniel3886
Junior Member
Posts • 1,241
Likes • 989
October 2006
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Chiswick • Urban Art Auctions 🇬🇧, by daniel3886 on Sept 11, 2018 22:43:27 GMT 1, 20k hammer 25% buyers premium +5%(vat on premium If applicable) 4% Artists Resale ights (payable on any European artist with hammer over 1000€ So £26,800 if all of the above apply. Foreign buyers or company’s can claim VAT back. Collection in person is welcomed flight logistics are our preferred shipping partner and we do not mark up their charges you’re welcome to deal with them directly.
As a seller the total size and value of your consignment will dictate how negotiable from standard terms (15%) we’re able to be. Insurance on sold lots is 1.5% of Hammer marketing charges are again negotiable. Unsold lots are £15 VAT is applicable to the above, again its reclaimable if selling via a company who’s vat registered. So 20k Hammer lets say for arguments sake 10% commission plus 1.5% insurance plus VAT = £17,240 returned to the seller (This is just to illustrate, it could be slightly more/less according to the consignment)
Also bid directly with the auction house this will save you online bidding fees of 3-5% via saleroom or Invaluable
If you have any further questions drop me a pm I’ll be happy to help
20k hammer 25% buyers premium +5%(vat on premium If applicable) 4% Artists Resale ights (payable on any European artist with hammer over 1000€ So £26,800 if all of the above apply. Foreign buyers or company’s can claim VAT back. Collection in person is welcomed flight logistics are our preferred shipping partner and we do not mark up their charges you’re welcome to deal with them directly.
As a seller the total size and value of your consignment will dictate how negotiable from standard terms (15%) we’re able to be. Insurance on sold lots is 1.5% of Hammer marketing charges are again negotiable. Unsold lots are £15 VAT is applicable to the above, again its reclaimable if selling via a company who’s vat registered. So 20k Hammer lets say for arguments sake 10% commission plus 1.5% insurance plus VAT = £17,240 returned to the seller (This is just to illustrate, it could be slightly more/less according to the consignment)
Also bid directly with the auction house this will save you online bidding fees of 3-5% via saleroom or Invaluable
If you have any further questions drop me a pm I’ll be happy to help
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daniel3886
Junior Member
Posts • 1,241
Likes • 989
October 2006
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Deleted
Posts • 0
Likes •
January 1970
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Chiswick • Urban Art Auctions 🇬🇧, by Deleted on Sept 12, 2018 7:25:50 GMT 1, if they don’t sell they still have them
As opposed to what?
if they don’t sell they still have them As opposed to what?
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cnrdvln
Junior Member
Posts • 1,402
Likes • 1,488
February 2017
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Chiswick • Urban Art Auctions 🇬🇧, by cnrdvln on Sept 12, 2018 10:59:53 GMT 1, Yup.... and the Modern Monarchy is killing me too. Damien Hirst has cleaned me out this year....
Yup.... and the Modern Monarchy is killing me too. Damien Hirst has cleaned me out this year....
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Chiswick • Urban Art Auctions 🇬🇧, by Happy Shopper on Sept 12, 2018 11:18:01 GMT 1, Looks like all the POW Invader prints and the Todd James are signed "backdoor" prints too. No doubt real, but will someone pay so much for them? Really they should have been destroyed if they were just spares in case of damage (and not APs or PPs).
Looks like all the POW Invader prints and the Todd James are signed "backdoor" prints too. No doubt real, but will someone pay so much for them? Really they should have been destroyed if they were just spares in case of damage (and not APs or PPs).
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Chiswick • Urban Art Auctions 🇬🇧, by Happy Shopper on Sept 12, 2018 11:18:47 GMT 1, That Conor Harrington is a beauty though!
That Conor Harrington is a beauty though!
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stevec
New Member
Posts • 109
Likes • 167
January 2017
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Chiswick • Urban Art Auctions 🇬🇧, by stevec on Sept 12, 2018 22:01:30 GMT 1, was surprised to see numbers not obscured on prints in the auction - e.g. strawberry donut. is it standard practice for auctions to *show* numbers vs. usual practice on here to obscure?
was surprised to see numbers not obscured on prints in the auction - e.g. strawberry donut. is it standard practice for auctions to *show* numbers vs. usual practice on here to obscure?
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DOH
New Member
Posts • 404
Likes • 551
July 2009
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Chiswick • Urban Art Auctions 🇬🇧, by DOH on Sept 12, 2018 22:22:09 GMT 1, was surprised to see numbers not obscured on prints in the auction - e.g. strawberry donut. is it standard practice for auctions to *show* numbers vs. usual practice on here to obscure? Yes, standard practice.
was surprised to see numbers not obscured on prints in the auction - e.g. strawberry donut. is it standard practice for auctions to *show* numbers vs. usual practice on here to obscure? Yes, standard practice.
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Chiswick • Urban Art Auctions 🇬🇧, by christiangul on Sept 13, 2018 7:32:16 GMT 1, ] For those that is not that informed on what’s going on in the art world; What has Damien Hirst to do with this? He owns the original Modern Monarchy right? Has he sold it cheap?
] For those that is not that informed on what’s going on in the art world; What has Damien Hirst to do with this? He owns the original Modern Monarchy right? Has he sold it cheap?
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cmc
New Member
Posts • 380
Likes • 279
July 2013
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Chiswick • Urban Art Auctions 🇬🇧, by cmc on Sept 13, 2018 9:39:30 GMT 1, ] For those that is not that informed on what’s going on in the art world; What has Damien Hirst to do with this? He owns the original Modern Monarchy right? Has he sold it cheap? I think he is referring to the amount of money he already spent on Hirst prints
] For those that is not that informed on what’s going on in the art world; What has Damien Hirst to do with this? He owns the original Modern Monarchy right? Has he sold it cheap? I think he is referring to the amount of money he already spent on Hirst prints
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Hubble Bubble
Junior Member
Posts • 4,098
Likes • 3,533
December 2010
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Chiswick • Urban Art Auctions 🇬🇧, by Hubble Bubble on Sept 13, 2018 10:09:15 GMT 1, This is not an urban art auction, this is a circus, ran by a idiot who has told his friends that if they don’t sell they still have them. If they do sell then they’ve found the mug, if he pays. Auction estimates show the house has no interest in credibility or buyers. Waste of time. Signed Toxic Mary 20 grand to 25 plus fees? ?? Not sure if you're referring to daniel3886 and, if so, whether you have met him. Either way, I've had the pleasure and found him to be anything but an idiot. He makes no bones about the fact that he trades in art and is knowledgable and personable. I've bought/sold nothing from/to him but felt I wanted to add my 10 cents to this comment.
This is not an urban art auction, this is a circus, ran by a idiot who has told his friends that if they don’t sell they still have them. If they do sell then they’ve found the mug, if he pays. Auction estimates show the house has no interest in credibility or buyers. Waste of time. Signed Toxic Mary 20 grand to 25 plus fees? ?? Not sure if you're referring to daniel3886 and, if so, whether you have met him. Either way, I've had the pleasure and found him to be anything but an idiot. He makes no bones about the fact that he trades in art and is knowledgable and personable. I've bought/sold nothing from/to him but felt I wanted to add my 10 cents to this comment.
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robo
Junior Member
Posts • 1,578
Likes • 1,002
November 2006
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Chiswick • Urban Art Auctions 🇬🇧, by robo on Sept 13, 2018 10:20:42 GMT 1, This is not an urban art auction, this is a circus, ran by a idiot who has told his friends that if they don’t sell they still have them. If they do sell then they’ve found the mug, if he pays. Auction estimates show the house has no interest in credibility or buyers. Waste of time. Signed Toxic Mary 20 grand to 25 plus fees? ?? Er, I think you'll find it IS an urban art auction... What you describe is pretty much how an auction works...
Don't think the organisers, who have been very communicative and helpful on this thread, deserve your disrespectful language.
This is not an urban art auction, this is a circus, ran by a idiot who has told his friends that if they don’t sell they still have them. If they do sell then they’ve found the mug, if he pays. Auction estimates show the house has no interest in credibility or buyers. Waste of time. Signed Toxic Mary 20 grand to 25 plus fees? ?? Er, I think you'll find it IS an urban art auction... What you describe is pretty much how an auction works... Don't think the organisers, who have been very communicative and helpful on this thread, deserve your disrespectful language.
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Sundowner
Junior Member
Posts • 4,225
Likes • 2,427
September 2008
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Chiswick • Urban Art Auctions 🇬🇧, by Sundowner on Sept 13, 2018 10:34:59 GMT 1, This is not an urban art auction, this is a circus, ran by a idiot who has told his friends that if they don’t sell they still have them. If they do sell then they’ve found the mug, if he pays. Auction estimates show the house has no interest in credibility or buyers. Waste of time. Signed Toxic Mary 20 grand to 25 plus fees? ?? Not sure if you're referring to daniel3886 and, if so, whether you have met him. Either way, I've had the pleasure and found him to be anything but an idiot. He makes no bones about the fact that he trades in art and is knowledgable and personable. I've bought/sold nothing from/to him but felt I wanted to add my 10 cents to this comment. Agree 100% with Hubble Bubble. daniel3886 is a straightforward guy and has been very clear in answering questions people have had with regards to this auction. With regards to your specific point around the TM, I would agree that in previous auctions, some lots probably had ambitious expectations, but whilst Daniel and the team can advise it is ultimately the seller who has to agree the start price and the reserve.
I have had a few pieces in previous Chiswick Auctions sales this year and some have sold and some haven't (probably 50/50). I have found Daniel and the team at Chiswick to be quick to respond and always polite.
This is not an urban art auction, this is a circus, ran by a idiot who has told his friends that if they don’t sell they still have them. If they do sell then they’ve found the mug, if he pays. Auction estimates show the house has no interest in credibility or buyers. Waste of time. Signed Toxic Mary 20 grand to 25 plus fees? ?? Not sure if you're referring to daniel3886 and, if so, whether you have met him. Either way, I've had the pleasure and found him to be anything but an idiot. He makes no bones about the fact that he trades in art and is knowledgable and personable. I've bought/sold nothing from/to him but felt I wanted to add my 10 cents to this comment. Agree 100% with Hubble Bubble. daniel3886 is a straightforward guy and has been very clear in answering questions people have had with regards to this auction. With regards to your specific point around the TM, I would agree that in previous auctions, some lots probably had ambitious expectations, but whilst Daniel and the team can advise it is ultimately the seller who has to agree the start price and the reserve.
I have had a few pieces in previous Chiswick Auctions sales this year and some have sold and some haven't (probably 50/50). I have found Daniel and the team at Chiswick to be quick to respond and always polite.
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Unica
Junior Member
Posts • 2,058
Likes • 1,220
November 2013
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Chiswick • Urban Art Auctions 🇬🇧, by Unica on Sept 13, 2018 11:11:40 GMT 1, I have had nothing but good interactions with Chiswick and find them very easy to deal with.
I have had nothing but good interactions with Chiswick and find them very easy to deal with.
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witchdoctor
New Member
Posts • 270
Likes • 203
January 2018
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Chiswick • Urban Art Auctions 🇬🇧, by witchdoctor on Sept 13, 2018 11:14:38 GMT 1, Looking forward to watch this auction. It has a lot of nice works from great and not so famous artists. Miss a Pejac-work there though.
Thanks for all the information You guys give, Daniel included. Good luck with the auction everyone
Looking forward to watch this auction. It has a lot of nice works from great and not so famous artists. Miss a Pejac-work there though.
Thanks for all the information You guys give, Daniel included. Good luck with the auction everyone
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iamzero
Full Member
Posts • 9,190
Likes • 8,542
May 2011
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Chiswick • Urban Art Auctions 🇬🇧, by iamzero on Sept 13, 2018 13:04:29 GMT 1, Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in.
Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in.
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Hubble Bubble
Junior Member
Posts • 4,098
Likes • 3,533
December 2010
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Chiswick • Urban Art Auctions 🇬🇧, by Hubble Bubble on Sept 13, 2018 13:47:20 GMT 1, Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in. Dependent on artist, add up to 35% to all items' hammer price at auction. That's what the buyer pays. Commission, plus VAT on the commission, plus artist resale rights etc. Don't forget they also take a fee from the seller.
Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in. Dependent on artist, add up to 35% to all items' hammer price at auction. That's what the buyer pays. Commission, plus VAT on the commission, plus artist resale rights etc. Don't forget they also take a fee from the seller.
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Unica
Junior Member
Posts • 2,058
Likes • 1,220
November 2013
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Chiswick • Urban Art Auctions 🇬🇧, by Unica on Sept 13, 2018 13:59:31 GMT 1, Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in. This is the norm for most traditional auction houses.
Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in. This is the norm for most traditional auction houses.
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iamzero
Full Member
Posts • 9,190
Likes • 8,542
May 2011
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Chiswick • Urban Art Auctions 🇬🇧, by iamzero on Sept 13, 2018 14:21:54 GMT 1, I’m aware it’s the norm but does that just seem like a crazy amount of money assuming my maths on that figure is ballpark accurate?
I’m aware it’s the norm but does that just seem like a crazy amount of money assuming my maths on that figure is ballpark accurate?
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Hubble Bubble
Junior Member
Posts • 4,098
Likes • 3,533
December 2010
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Chiswick • Urban Art Auctions 🇬🇧, by Hubble Bubble on Sept 13, 2018 14:44:54 GMT 1, Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in. To be clear, they don't see £7-8k from the hammer price. The seller receives the hammer price MINUS any sales commission, often around 10% or so but always negotiable, the auction house add on (usually) 25% in fees to the hammer price which are charged to the buyer in addition to the hammer price. On to that goes VAT on the commission (20% of 25% = 5%) plus artist resale rights at (I think) 4%.
So, if I buy a David Hockney (I use Hockney as an example as he gets Artist Resale) at auction for £10k hammer then I know my purchase price is £10k plus £2.5k commission plus £500 VAT on the £2.5k plus 400k Artist Resale rights. So the total I pay is £13,400 - that's how much it cost me.
If the seller has negotiated a 5% sales commission then they will receive £10k hammer price minus £500, meaning the price they receive is £9,500. If there's no sales commission then they get the full £10k hammer price.
Apologies if teaching my grannie to suck eggs but thought this might be useful to other folk without auction experience.
Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in. To be clear, they don't see £7-8k from the hammer price. The seller receives the hammer price MINUS any sales commission, often around 10% or so but always negotiable, the auction house add on (usually) 25% in fees to the hammer price which are charged to the buyer in addition to the hammer price. On to that goes VAT on the commission (20% of 25% = 5%) plus artist resale rights at (I think) 4%. So, if I buy a David Hockney (I use Hockney as an example as he gets Artist Resale) at auction for £10k hammer then I know my purchase price is £10k plus £2.5k commission plus £500 VAT on the £2.5k plus 400k Artist Resale rights. So the total I pay is £13,400 - that's how much it cost me. If the seller has negotiated a 5% sales commission then they will receive £10k hammer price minus £500, meaning the price they receive is £9,500. If there's no sales commission then they get the full £10k hammer price. Apologies if teaching my grannie to suck eggs but thought this might be useful to other folk without auction experience.
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cnrdvln
Junior Member
Posts • 1,402
Likes • 1,488
February 2017
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Chiswick • Urban Art Auctions 🇬🇧, by cnrdvln on Sept 13, 2018 14:57:13 GMT 1, ] For those that is not that informed on what’s going on in the art world; What has Damien Hirst to do with this? He owns the original Modern Monarchy right? Has he sold it cheap? I think he is referring to the amount of money he already spent on Hirst prints
Spot on 👌
] For those that is not that informed on what’s going on in the art world; What has Damien Hirst to do with this? He owns the original Modern Monarchy right? Has he sold it cheap? I think he is referring to the amount of money he already spent on Hirst prints Spot on 👌
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cnrdvln
Junior Member
Posts • 1,402
Likes • 1,488
February 2017
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Chiswick • Urban Art Auctions 🇬🇧, by cnrdvln on Sept 13, 2018 14:57:58 GMT 1, I think he is referring to the amount of money he already spent on Hirst prints Spot on 👌
I think Paul Smith or someone similar owns the original modern monarchy.. stand to be corrected though
I think he is referring to the amount of money he already spent on Hirst prints Spot on 👌 I think Paul Smith or someone similar owns the original modern monarchy.. stand to be corrected though
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iamzero
Full Member
Posts • 9,190
Likes • 8,542
May 2011
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Chiswick • Urban Art Auctions 🇬🇧, by iamzero on Sept 13, 2018 15:06:38 GMT 1, Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in. To be clear, they don't see £7-8k from the hammer price. The seller receives the hammer price MINUS any sales commission, often around 10% or so but always negotiable, the auction house add on (usually) 25% in fees to the hammer price which are charged to the buyer in addition to the hammer price. On to that goes VAT on the commission (20% of 25% = 5%) plus artist resale rights at (I think) 4%. So, if I buy a David Hockney (I use Hockney as an example as he gets Artist Resale) at auction for £10k hammer then I know my purchase price is £10k plus £2.5k commission plus £500 VAT on the £2.5k plus 400k Artist Resale rights. So the total I pay is £13,400 - that's how much it cost me. If the seller has negotiated a 5% sales commission then they will receive £10k hammer price minus £500, meaning the price they receive is £9,500. If there's no sales commission then they get the full £10k hammer price. Apologies if teaching my grannie to suck eggs but thought this might be useful to other folk without auction experience.
Much appreciated dude. Nice clear explanation.
Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in. To be clear, they don't see £7-8k from the hammer price. The seller receives the hammer price MINUS any sales commission, often around 10% or so but always negotiable, the auction house add on (usually) 25% in fees to the hammer price which are charged to the buyer in addition to the hammer price. On to that goes VAT on the commission (20% of 25% = 5%) plus artist resale rights at (I think) 4%. So, if I buy a David Hockney (I use Hockney as an example as he gets Artist Resale) at auction for £10k hammer then I know my purchase price is £10k plus £2.5k commission plus £500 VAT on the £2.5k plus 400k Artist Resale rights. So the total I pay is £13,400 - that's how much it cost me. If the seller has negotiated a 5% sales commission then they will receive £10k hammer price minus £500, meaning the price they receive is £9,500. If there's no sales commission then they get the full £10k hammer price. Apologies if teaching my grannie to suck eggs but thought this might be useful to other folk without auction experience. Much appreciated dude. Nice clear explanation.
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tran16
New Member
Posts • 567
Likes • 504
December 2016
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Chiswick • Urban Art Auctions 🇬🇧, by tran16 on Sept 13, 2018 16:16:24 GMT 1, Sellers can also get charged annoying extras such as catalogue fees and insurance
Sellers can also get charged annoying extras such as catalogue fees and insurance
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Deleted
Posts • 0
Likes •
January 1970
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Chiswick • Urban Art Auctions 🇬🇧, by Deleted on Sept 14, 2018 10:14:25 GMT 1, what's the artist resale rights?
what's the artist resale rights?
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Hubble Bubble
Junior Member
Posts • 4,098
Likes • 3,533
December 2010
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Chiswick • Urban Art Auctions 🇬🇧, by Hubble Bubble on Sept 14, 2018 10:58:08 GMT 1, what's the artist resale rights?
It’s the right of the creator of a piece of art to receive a percentage of any secondary sale if the piece is sold through a professional auction house, gallery or art market professional for £1k or more.
In reality this equates to an additional 4% of the hammer price at auction.
what's the artist resale rights? It’s the right of the creator of a piece of art to receive a percentage of any secondary sale if the piece is sold through a professional auction house, gallery or art market professional for £1k or more. In reality this equates to an additional 4% of the hammer price at auction.
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daniel3886
Junior Member
Posts • 1,241
Likes • 989
October 2006
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Chiswick • Urban Art Auctions 🇬🇧, by daniel3886 on Sept 14, 2018 10:58:59 GMT 1, Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in. To be clear, they don't see £7-8k from the hammer price. The seller receives the hammer price MINUS any sales commission, often around 10% or so but always negotiable, the auction house add on (usually) 25% in fees to the hammer price which are charged to the buyer in addition to the hammer price. On to that goes VAT on the commission (20% of 25% = 5%) plus artist resale rights at (I think) 4%. So, if I buy a David Hockney (I use Hockney as an example as he gets Artist Resale) at auction for £10k hammer then I know my purchase price is £10k plus £2.5k commission plus £500 VAT on the £2.5k plus 400k Artist Resale rights. So the total I pay is £13,400 - that's how much it cost me. If the seller has negotiated a 5% sales commission then they will receive £10k hammer price minus £500, meaning the price they receive is £9,500. If there's no sales commission then they get the full £10k hammer price. Apologies if teaching my grannie to suck eggs but thought this might be useful to other folk without auction experience.
Couldn’t have said it better myself. ARR is 4% applicable on any European artist living or for 70 years after their death.
Wow. If an item sells for £20k hammer price the auction house sees around £7-8k for that sale? Not a bad game to be in. To be clear, they don't see £7-8k from the hammer price. The seller receives the hammer price MINUS any sales commission, often around 10% or so but always negotiable, the auction house add on (usually) 25% in fees to the hammer price which are charged to the buyer in addition to the hammer price. On to that goes VAT on the commission (20% of 25% = 5%) plus artist resale rights at (I think) 4%. So, if I buy a David Hockney (I use Hockney as an example as he gets Artist Resale) at auction for £10k hammer then I know my purchase price is £10k plus £2.5k commission plus £500 VAT on the £2.5k plus 400k Artist Resale rights. So the total I pay is £13,400 - that's how much it cost me. If the seller has negotiated a 5% sales commission then they will receive £10k hammer price minus £500, meaning the price they receive is £9,500. If there's no sales commission then they get the full £10k hammer price. Apologies if teaching my grannie to suck eggs but thought this might be useful to other folk without auction experience. Couldn’t have said it better myself. ARR is 4% applicable on any European artist living or for 70 years after their death.
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daniel3886
Junior Member
Posts • 1,241
Likes • 989
October 2006
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Chiswick • Urban Art Auctions 🇬🇧, by daniel3886 on Sept 14, 2018 11:02:38 GMT 1, Sellers can also get charged annoying extras such as catalogue fees and insurance
Our standard terms include marketing charges. For larger consignments we waive them. Insurance is essential as no one wants to be liable in the event of a piece being damaged.
Sellers can also get charged annoying extras such as catalogue fees and insurance Our standard terms include marketing charges. For larger consignments we waive them. Insurance is essential as no one wants to be liable in the event of a piece being damaged.
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Chiswick • Urban Art Auctions 🇬🇧, by Coach on Sept 14, 2018 14:31:28 GMT 1, what's the artist resale rights? It’s the right of the creator of a piece of art to receive a percentage of any secondary sale if the piece is sold through a professional auction house, gallery or art market professional for £1k or more. In reality this equates to an additional 4% of the hammer price at auction.
Does the artist get the full 4%?
what's the artist resale rights? It’s the right of the creator of a piece of art to receive a percentage of any secondary sale if the piece is sold through a professional auction house, gallery or art market professional for £1k or more. In reality this equates to an additional 4% of the hammer price at auction. Does the artist get the full 4%?
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seanburke
New Member
Posts • 358
Likes • 589
December 2014
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Chiswick • Urban Art Auctions 🇬🇧, by seanburke on Sept 14, 2018 14:45:23 GMT 1, I think Paul Smith or someone similar owns the original modern monarchy.. stand to be corrected though
Yep, Paul Smith has it.
I think Paul Smith or someone similar owns the original modern monarchy.. stand to be corrected though Yep, Paul Smith has it.
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