Paname
New Member
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October 2013
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Damien Hirst, The Empresses H10, by Paname on Jan 29, 2022 10:11:03 GMT 1, I bought the JR nft to make money, failed. Well on this one there is a way to win? I want to buy a Richard Mille .
I bought the JR nft to make money, failed. Well on this one there is a way to win? I want to buy a Richard Mille .
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wave
Junior Member
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March 2007
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Damien Hirst, The Empresses H10, by wave on Jan 29, 2022 10:13:43 GMT 1, Not sure why this would be obsolete in 3 years? It will live life as a DH nft in exactly the same way as the currency no? It will most likely have some utility for holders down the line. E.g holders of the currency already received the GE airdrop, free DH exclusive merch and priority on Heni releases. No one can predict the future of course but Heni and Palm seem to be building something exciting imo. Last line … “ The HENI Editions NFT Deed is a new category of NFTs offered by HENI, which are different to NFT drops by artists. These are utility NFTs provided by HENI which serve the specific purpose of delaying receipt of the physical and enabling ease of trading. There are no additional utilities or perks associated with this type of NFT.”
Yeah that’s a bit weird then to be fair. I think they mean traditional artists nfts arn’t linked to a physical and for this there is no official roadmap. UPDATE: yep Heni confirmed no airdrops etc for this and you are correct, it is just a deed so likely no real value after 3 years.
Not sure why this would be obsolete in 3 years? It will live life as a DH nft in exactly the same way as the currency no? It will most likely have some utility for holders down the line. E.g holders of the currency already received the GE airdrop, free DH exclusive merch and priority on Heni releases. No one can predict the future of course but Heni and Palm seem to be building something exciting imo. Last line … “ The HENI Editions NFT Deed is a new category of NFTs offered by HENI, which are different to NFT drops by artists. These are utility NFTs provided by HENI which serve the specific purpose of delaying receipt of the physical and enabling ease of trading. There are no additional utilities or perks associated with this type of NFT.” Yeah that’s a bit weird then to be fair. I think they mean traditional artists nfts arn’t linked to a physical and for this there is no official roadmap. UPDATE: yep Heni confirmed no airdrops etc for this and you are correct, it is just a deed so likely no real value after 3 years. |
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sandworm
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February 2021
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Damien Hirst, The Empresses H10, by sandworm on Jan 29, 2022 10:50:27 GMT 1, I think some people may have missed the FAQ's page as it answers a lot of the questions being asked here, to state a few answers to continued questions:
How many can I purchase?
"There isn't a limit on the number of editions that you can purchase. If you are purchasing more than 3 NFT Deeds, we may contact you for identity verification purposes."
Does the work come with a certificate of authenticity?
"The edition does not come with a certificate of authenticity. Each work is individually numbered and hand signed by Damien Hirst on the label on the back."
Where are the editions being shipped from?
The plan is to currently ship physical prints bought directly (without an NFT) from the U.K. but this may change depending on covid restrictions, logistics and other considerations.
How long is my HENI Editions NFT Deed valid?
"HENI is offering the ability to immediately purchase physical prints, or through the use of what HENI calls a “HENI Editions NFT Deed”, to delay receipt of the print for up to 3 years. You can pass on your entitlement to the print through trading the NFT thus giving a maximum of flexibility to collectors. We are happy to be at the forefront of providing innovative ways to collect, enjoy and trade art.
The HENI Editions NFT Deed is a new category of NFTs offered by HENI, which are different to NFT drops by artists. These are utility NFTs provided by HENI which serve the specific purpose of delaying receipt of the physical and enabling ease of trading. There are no additional utilities or perks associated with this type of NFT.
If you fail to redeem the HENI Editions NFT Deed for the physical work before 10am ET February 5th 2025, you will lose your rights to the physical piece and HENI will be free to dispose of it however it wants (including not completing the work)."
Fees when exchanging an NFT for physical print
"Any applicable taxes, import duties, shipping and insurance costs will need to be paid by you."
HENI FAQ
I think some people may have missed the FAQ's page as it answers a lot of the questions being asked here, to state a few answers to continued questions: How many can I purchase?"There isn't a limit on the number of editions that you can purchase. If you are purchasing more than 3 NFT Deeds, we may contact you for identity verification purposes." Does the work come with a certificate of authenticity?"The edition does not come with a certificate of authenticity. Each work is individually numbered and hand signed by Damien Hirst on the label on the back." Where are the editions being shipped from?The plan is to currently ship physical prints bought directly (without an NFT) from the U.K. but this may change depending on covid restrictions, logistics and other considerations. How long is my HENI Editions NFT Deed valid?"HENI is offering the ability to immediately purchase physical prints, or through the use of what HENI calls a “HENI Editions NFT Deed”, to delay receipt of the print for up to 3 years. You can pass on your entitlement to the print through trading the NFT thus giving a maximum of flexibility to collectors. We are happy to be at the forefront of providing innovative ways to collect, enjoy and trade art. The HENI Editions NFT Deed is a new category of NFTs offered by HENI, which are different to NFT drops by artists. These are utility NFTs provided by HENI which serve the specific purpose of delaying receipt of the physical and enabling ease of trading. There are no additional utilities or perks associated with this type of NFT. If you fail to redeem the HENI Editions NFT Deed for the physical work before 10am ET February 5th 2025, you will lose your rights to the physical piece and HENI will be free to dispose of it however it wants (including not completing the work)." Fees when exchanging an NFT for physical print"Any applicable taxes, import duties, shipping and insurance costs will need to be paid by you." HENI FAQ |
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Dice
Junior Member
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October 2011
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Damien Hirst, The Empresses H10, by Dice on Jan 29, 2022 11:19:26 GMT 1, Timed edition of several prints is really a dilemma. Most likely if you buy based on aesthetics you end up buying the one that the majority will also buy. If you also want to make a sound investment, then you need to opt for the image that is possibly the least appealing as it will be released ultimately in a lower edition number. Annoying.
Yes but the most popular one now will also be the most popular one later if you ever came to sell so will hold value better than the lower less popular editions. Plus you have to live with it so might as well buy the one you like.
Timed edition of several prints is really a dilemma. Most likely if you buy based on aesthetics you end up buying the one that the majority will also buy. If you also want to make a sound investment, then you need to opt for the image that is possibly the least appealing as it will be released ultimately in a lower edition number. Annoying. Yes but the most popular one now will also be the most popular one later if you ever came to sell so will hold value better than the lower less popular editions. Plus you have to live with it so might as well buy the one you like. |
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Dahmer
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October 2016
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Damien Hirst, The Empresses H10, by Dahmer on Jan 29, 2022 11:34:35 GMT 1, Don’t get me wrong I like them and I think they will look good, but for me it’s just too much red. Something this size and this red will just look so harsh and distracting. Just a little harsh for me. I’ll stick with the currency pieces I’ve got for now, good luck flipping them everyone though, I’m sure you might double your money
Don’t get me wrong I like them and I think they will look good, but for me it’s just too much red. Something this size and this red will just look so harsh and distracting. Just a little harsh for me. I’ll stick with the currency pieces I’ve got for now, good luck flipping them everyone though, I’m sure you might double your money
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Reader
Junior Member
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June 2016
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Damien Hirst, The Empresses H10, by Reader on Jan 29, 2022 11:44:11 GMT 1, So you're basically paying up front and getting the receipt, they don't have to print and ship it, you don't have to store it. Anytime between now and Feb 2025, if you remember, you can redeem it and they'll print and send the item. In the meantime, if you want to sell the receipt, that's also ok, but the receipt is likely tied to the value of the physical work in a way NFT's usually aren't ?
Also the likelyhood of thousands and thousands of buyers who are going to park this and then forget are huge.
It's soooo loaded in Heni/DH's favour as to be almost a con. At this point, it feels like 95% business and 5% art.
So you're basically paying up front and getting the receipt, they don't have to print and ship it, you don't have to store it. Anytime between now and Feb 2025, if you remember, you can redeem it and they'll print and send the item. In the meantime, if you want to sell the receipt, that's also ok, but the receipt is likely tied to the value of the physical work in a way NFT's usually aren't ?
Also the likelyhood of thousands and thousands of buyers who are going to park this and then forget are huge.
It's soooo loaded in Heni/DH's favour as to be almost a con. At this point, it feels like 95% business and 5% art.
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Newar
Junior Member
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April 2018
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Damien Hirst, The Empresses H10, by Newar on Jan 29, 2022 11:44:19 GMT 1, I think some people may have missed the FAQ's page as it answers a lot of the questions being asked here, to state a few answers to continued questions: How many can I purchase?"There isn't a limit on the number of editions that you can purchase. If you are purchasing more than 3 NFT Deeds, we may contact you for identity verification purposes." Does the work come with a certificate of authenticity?"The edition does not come with a certificate of authenticity. Each work is individually numbered and hand signed by Damien Hirst on the label on the back." Where are the editions being shipped from?The plan is to currently ship physical prints bought directly (without an NFT) from the U.K. but this may change depending on covid restrictions, logistics and other considerations. How long is my HENI Editions NFT Deed valid?"HENI is offering the ability to immediately purchase physical prints, or through the use of what HENI calls a “HENI Editions NFT Deed”, to delay receipt of the print for up to 3 years. You can pass on your entitlement to the print through trading the NFT thus giving a maximum of flexibility to collectors. We are happy to be at the forefront of providing innovative ways to collect, enjoy and trade art. The HENI Editions NFT Deed is a new category of NFTs offered by HENI, which are different to NFT drops by artists. These are utility NFTs provided by HENI which serve the specific purpose of delaying receipt of the physical and enabling ease of trading. There are no additional utilities or perks associated with this type of NFT. If you fail to redeem the HENI Editions NFT Deed for the physical work before 10am ET February 5th 2025, you will lose your rights to the physical piece and HENI will be free to dispose of it however it wants (including not completing the work)." Fees when exchanging an NFT for physical print"Any applicable taxes, import duties, shipping and insurance costs will need to be paid by you." HENI FAQ will gladly try this new project , has far i'm concerned , HENI are the more inovative in this field ...
I think some people may have missed the FAQ's page as it answers a lot of the questions being asked here, to state a few answers to continued questions: How many can I purchase?"There isn't a limit on the number of editions that you can purchase. If you are purchasing more than 3 NFT Deeds, we may contact you for identity verification purposes." Does the work come with a certificate of authenticity?"The edition does not come with a certificate of authenticity. Each work is individually numbered and hand signed by Damien Hirst on the label on the back." Where are the editions being shipped from?The plan is to currently ship physical prints bought directly (without an NFT) from the U.K. but this may change depending on covid restrictions, logistics and other considerations. How long is my HENI Editions NFT Deed valid?"HENI is offering the ability to immediately purchase physical prints, or through the use of what HENI calls a “HENI Editions NFT Deed”, to delay receipt of the print for up to 3 years. You can pass on your entitlement to the print through trading the NFT thus giving a maximum of flexibility to collectors. We are happy to be at the forefront of providing innovative ways to collect, enjoy and trade art. The HENI Editions NFT Deed is a new category of NFTs offered by HENI, which are different to NFT drops by artists. These are utility NFTs provided by HENI which serve the specific purpose of delaying receipt of the physical and enabling ease of trading. There are no additional utilities or perks associated with this type of NFT. If you fail to redeem the HENI Editions NFT Deed for the physical work before 10am ET February 5th 2025, you will lose your rights to the physical piece and HENI will be free to dispose of it however it wants (including not completing the work)." Fees when exchanging an NFT for physical print"Any applicable taxes, import duties, shipping and insurance costs will need to be paid by you." HENI FAQOut of money will gladly try this new project , has far i'm concerned , HENI are the more inovative in this field ... |
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Morfx
Junior Member
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May 2013
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Damien Hirst, The Empresses H10, by Morfx on Jan 29, 2022 11:45:10 GMT 1, Bright red, Butterfly's, released to coincide with Chinese New year.... 🤑💸🤑💸
Bright red, Butterfly's, released to coincide with Chinese New year.... 🤑💸🤑💸
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Damien Hirst, The Empresses H10, by Georgie Poppit on Jan 29, 2022 11:46:19 GMT 1, Is this the first NFT with a deadline?
Is this the first NFT with a deadline?
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Damien Hirst, The Empresses H10, by Lord Lucas Roham on Jan 29, 2022 11:47:27 GMT 1, ITT. People who simply can't grasp the basics and / or read.
ITT. People who simply can't grasp the basics and / or read.
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Damien Hirst, The Empresses H10, by Happy Shopper on Jan 29, 2022 11:53:07 GMT 1, Is VAT and shipping 9blyvapplied if you exchange the NFT for physical? If you just buy and sell the NFT is there no VAT or additional costs? The initial 20% saving is tempting (purely for cash flow purposes!)
What I don’t understand, and I’ve asked on discord with no answer, is what happens with VAT when you redeem the print?
I assume you have to pay it at that point.
But if you’re in the UK and you’ve bought the NFT on the secondary market, what VAT is paid, and by who?
Is VAT and shipping 9blyvapplied if you exchange the NFT for physical? If you just buy and sell the NFT is there no VAT or additional costs? The initial 20% saving is tempting (purely for cash flow purposes!) What I don’t understand, and I’ve asked on discord with no answer, is what happens with VAT when you redeem the print? I assume you have to pay it at that point. But if you’re in the UK and you’ve bought the NFT on the secondary market, what VAT is paid, and by who? |
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wave
Junior Member
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March 2007
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Damien Hirst, The Empresses H10, by wave on Jan 29, 2022 11:54:16 GMT 1, Is this the first NFT with a deadline?
There have been others to some degree, eg og crystals.
Just a shame the nft hasn’t been sold to have a life after the deadline unlike the currency but still an interesting concept.
No doubt this will be interesting to follow during it’s time frame.
Is this the first NFT with a deadline? There have been others to some degree, eg og crystals. Just a shame the nft hasn’t been sold to have a life after the deadline unlike the currency but still an interesting concept. No doubt this will be interesting to follow during it’s time frame. |
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Zippy
Junior Member
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April 2006
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Damien Hirst, The Empresses H10, by Zippy on Jan 29, 2022 11:57:02 GMT 1, Is VAT and shipping 9blyvapplied if you exchange the NFT for physical? If you just buy and sell the NFT is there no VAT or additional costs? The initial 20% saving is tempting (purely for cash flow purposes!) What I don’t understand, and I’ve asked on discord with no answer, is what happens with VAT when you redeem the print? I assume you have to pay it at that point. But if you’re in the UK and you’ve bought the NFT on the secondary market, what VAT is paid, and by who?
I would expect VAT and delivery will be charged once you confirm your delivery address. So whoever converts the certificate into the physical print will be liable.
Is VAT and shipping 9blyvapplied if you exchange the NFT for physical? If you just buy and sell the NFT is there no VAT or additional costs? The initial 20% saving is tempting (purely for cash flow purposes!) What I don’t understand, and I’ve asked on discord with no answer, is what happens with VAT when you redeem the print? I assume you have to pay it at that point. But if you’re in the UK and you’ve bought the NFT on the secondary market, what VAT is paid, and by who? I would expect VAT and delivery will be charged once you confirm your delivery address. So whoever converts the certificate into the physical print will be liable. |
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kfroms
Junior Member
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October 2011
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Damien Hirst, The Empresses H10, by kfroms on Jan 29, 2022 12:05:50 GMT 1, Not 100% sure about the VAT situation in the UK but when I burned my Currency NFT there was no VAT charged. So no VAT when purchased ( I paid 2000 USD as all other buyers ) and no VAT when converting the NFT to a physical piece ( I picked mine up at Claridges )
Guess that is the same in this case?!
Need to leave my usual comment: These are far too glossy and shiny for me.
Also, I do not want to live with a massive 1sqm red patch on my wall.
Not 100% sure about the VAT situation in the UK but when I burned my Currency NFT there was no VAT charged. So no VAT when purchased ( I paid 2000 USD as all other buyers ) and no VAT when converting the NFT to a physical piece ( I picked mine up at Claridges )
Guess that is the same in this case?!
Need to leave my usual comment: These are far too glossy and shiny for me.
Also, I do not want to live with a massive 1sqm red patch on my wall.
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Damien Hirst, The Empresses H10, by JL Broooks on Jan 29, 2022 12:08:08 GMT 1, The strangest / most questionable thing with this release is that the buyer lose his / her money if not redeemed within 3 years. Actually very questionable. It should definitely have been money back if not redeemed within 3 years. No cost for Heni as the prints are for sure not produced.
The strangest / most questionable thing with this release is that the buyer lose his / her money if not redeemed within 3 years. Actually very questionable. It should definitely have been money back if not redeemed within 3 years. No cost for Heni as the prints are for sure not produced.
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Damien Hirst, The Empresses H10, by Lord Lucas Roham on Jan 29, 2022 12:16:30 GMT 1, Not 100% sure about the VAT situation in the UK but when I burned my Currency NFT there was no VAT charged. So no VAT when purchased ( I paid 2000 USD as all other buyers ) and no VAT when converting the NFT to a physical piece ( I picked mine up at Claridges ) Guess that is the same in this case?! Need to leave my usual comment: These are far too glossy and shiny for me. Also, I do not want to live with a massive 1sqm red patch on my wall.
I asked this last night.
What I gather is the following: (UK Based)
* You pay VAT on the physical. $700
* If you buy the NFT, you don't pay VAT on the transaction.
* When you redeem the NFT (after May 5th), you won't need to pay VAT. I am assuming this as you DIDN'T pay VAT on The Currency when you took the physical.
If I am wrong then can someone please provide any references as to why.
Not 100% sure about the VAT situation in the UK but when I burned my Currency NFT there was no VAT charged. So no VAT when purchased ( I paid 2000 USD as all other buyers ) and no VAT when converting the NFT to a physical piece ( I picked mine up at Claridges ) Guess that is the same in this case?! Need to leave my usual comment: These are far too glossy and shiny for me. Also, I do not want to live with a massive 1sqm red patch on my wall. I asked this last night. What I gather is the following: (UK Based) * You pay VAT on the physical. $700 * If you buy the NFT, you don't pay VAT on the transaction. * When you redeem the NFT (after May 5th), you won't need to pay VAT. I am assuming this as you DIDN'T pay VAT on The Currency when you took the physical. If I am wrong then can someone please provide any references as to why. |
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sandworm
New Member
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February 2021
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Damien Hirst, The Empresses H10, by sandworm on Jan 29, 2022 12:16:39 GMT 1, The strangest / most questionable thing with this release is that the buyer lose his / her money if not redeemed within 3 years. Actually very questionable. It should definitely have been money back if not redeemed within 3 years. No cost for Heni as the prints are for sure not produced.
Of course it's a loss to them to refund the purchase price. The NFT is a 'deed' designed to make flipping easier within the first three years rather than shipping a 100x100cm Aluminium panel around the globe.
The strangest / most questionable thing with this release is that the buyer lose his / her money if not redeemed within 3 years. Actually very questionable. It should definitely have been money back if not redeemed within 3 years. No cost for Heni as the prints are for sure not produced. Do you honestly think these cost HENI 3500USD each to produce? Of course it's a loss to them to refund the purchase price. The NFT is a 'deed' designed to make flipping easier within the first three years rather than shipping a 100x100cm Aluminium panel around the globe. |
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Petrusino
Junior Member
🗨️ 1,103
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November 2011
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Damien Hirst, The Empresses H10, by Petrusino on Jan 29, 2022 12:25:41 GMT 1, Do you guys think that in the future a collector will prefer to buy this print from a seller who owns a physical copy or in the form of an NFT in order to have it shipped as new directly from Heni?
Do you guys think that in the future a collector will prefer to buy this print from a seller who owns a physical copy or in the form of an NFT in order to have it shipped as new directly from Heni?
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pb1
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August 2021
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Damien Hirst, The Empresses H10, by pb1 on Jan 29, 2022 12:30:06 GMT 1, Do you think the VAT will always be $700 for UK purchasers even if the person exchanging the NFT for the physical print has paid a different price for t on the secondary market?
Do you think the VAT will always be $700 for UK purchasers even if the person exchanging the NFT for the physical print has paid a different price for t on the secondary market?
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sandworm
New Member
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February 2021
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Damien Hirst, The Empresses H10, by sandworm on Jan 29, 2022 12:36:12 GMT 1, Do you think the VAT will always be $700 for UK purchasers even if the person exchanging the NFT for the physical print has paid a different price for t on the secondary market?
I would think it would have to be fixed, HENI can't be responsible to track what each 'deed' holder paid on the secondary market.
Do you think the VAT will always be $700 for UK purchasers even if the person exchanging the NFT for the physical print has paid a different price for t on the secondary market? I would think it would have to be fixed, HENI can't be responsible to track what each 'deed' holder paid on the secondary market. |
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ak1
New Member
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May 2014
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Damien Hirst, The Empresses H10, by ak1 on Jan 29, 2022 12:36:41 GMT 1, What I don’t understand, and I’ve asked on discord with no answer, is what happens with VAT when you redeem the print? I assume you have to pay it at that point. But if you’re in the UK and you’ve bought the NFT on the secondary market, what VAT is paid, and by who? You will always have to pay VAT when you redeem the NFT for the print. So if you are in the UK they will ask for 20% VAT before sending out the print, i.e. $700. Whether you are the original buyer or bought the NFT on the secondary market, the same principle applies.
As these will ship from the UK, if I bought a physical piece to be shipped to here in Ireland, I'll need to budget between €350- €400 for the VAT and import charges. This will be on top of whatever they charge for shipping. Suddenly they become quite expensive.
What I don’t understand, and I’ve asked on discord with no answer, is what happens with VAT when you redeem the print? I assume you have to pay it at that point. But if you’re in the UK and you’ve bought the NFT on the secondary market, what VAT is paid, and by who? You will always have to pay VAT when you redeem the NFT for the print. So if you are in the UK they will ask for 20% VAT before sending out the print, i.e. $700. Whether you are the original buyer or bought the NFT on the secondary market, the same principle applies. Its the buyers responsibility to pay the VAT once the physical item is shipped to you. As these will ship from the UK, if I bought a physical piece to be shipped to here in Ireland, I'll need to budget between €350- €400 for the VAT and import charges. This will be on top of whatever they charge for shipping. Suddenly they become quite expensive. |
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Damien Hirst, The Empresses H10, by Lord Lucas Roham on Jan 29, 2022 12:38:42 GMT 1, What I don’t understand, and I’ve asked on discord with no answer, is what happens with VAT when you redeem the print? I assume you have to pay it at that point. But if you’re in the UK and you’ve bought the NFT on the secondary market, what VAT is paid, and by who? You will always have to pay VAT when you redeem the NFT for the print. So if you are in the UK they will ask for 20% VAT before sending out the print, i.e. $700. Whether you are the original buyer or bought the NFT on the secondary market, the same principle applies.
You didn't for The Currency so you are talking nonsense.
Why do people find this so difficult to grasp?
What I don’t understand, and I’ve asked on discord with no answer, is what happens with VAT when you redeem the print? I assume you have to pay it at that point. But if you’re in the UK and you’ve bought the NFT on the secondary market, what VAT is paid, and by who? You will always have to pay VAT when you redeem the NFT for the print. So if you are in the UK they will ask for 20% VAT before sending out the print, i.e. $700. Whether you are the original buyer or bought the NFT on the secondary market, the same principle applies. You didn't for The Currency so you are talking nonsense. Why do people find this so difficult to grasp? |
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sandworm
New Member
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February 2021
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Damien Hirst, The Empresses H10, by sandworm on Jan 29, 2022 12:43:12 GMT 1, You will always have to pay VAT when you redeem the NFT for the print. So if you are in the UK they will ask for 20% VAT before sending out the print, i.e. $700. Whether you are the original buyer or bought the NFT on the secondary market, the same principle applies. You didn't for The Currency so you are talking nonsense. Why do people find this so difficult to grasp?
"A HENI Editions NFT Deed allows a collector to delay receipt of the print for up to 3 years. You can pass on your entitlement to the print through trading the NFT thus giving a maximum flexibility to collectors.
When the redemption period opens in three months, after the physical prints that were purchased in the drop have been delivered, collectors will be able to redeem their NFT for the physical on the My NFTs section of the HENI Editions NFT Deed website.
Detailed instructions will be available closer to the time.
Any applicable taxes, import duties, shipping and insurance costs will need to be paid by you."
HENI Link
You will always have to pay VAT when you redeem the NFT for the print. So if you are in the UK they will ask for 20% VAT before sending out the print, i.e. $700. Whether you are the original buyer or bought the NFT on the secondary market, the same principle applies. You didn't for The Currency so you are talking nonsense. Why do people find this so difficult to grasp? Because that isn't what the HENI website says: "A HENI Editions NFT Deed allows a collector to delay receipt of the print for up to 3 years. You can pass on your entitlement to the print through trading the NFT thus giving a maximum flexibility to collectors. When the redemption period opens in three months, after the physical prints that were purchased in the drop have been delivered, collectors will be able to redeem their NFT for the physical on the My NFTs section of the HENI Editions NFT Deed website. Detailed instructions will be available closer to the time. Any applicable taxes, import duties, shipping and insurance costs will need to be paid by you." HENI Link |
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Damien Hirst, The Empresses H10, by Random Ginger Bloke on Jan 29, 2022 13:34:26 GMT 1, Anyone got any ideas on how you'll frame these?
Anyone got any ideas on how you'll frame these?
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pwt
New Member
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October 2020
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Damien Hirst, The Empresses H10, by pwt on Jan 29, 2022 13:36:32 GMT 1, Does the name have any impact on which print you are drawn to? Aesthetically, there is one image I prefer, however having spent a little bit of time reading about the empresses they are named after, I now have some doubts. Or does no-one care about these things and it’s all about how much they will increase in value?
Does the name have any impact on which print you are drawn to? Aesthetically, there is one image I prefer, however having spent a little bit of time reading about the empresses they are named after, I now have some doubts. Or does no-one care about these things and it’s all about how much they will increase in value?
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Damien Hirst, The Empresses H10, by Happy Shopper on Jan 29, 2022 13:51:56 GMT 1, You will always have to pay VAT when you redeem the NFT for the print. So if you are in the UK they will ask for 20% VAT before sending out the print, i.e. $700. Whether you are the original buyer or bought the NFT on the secondary market, the same principle applies. You didn't for The Currency so you are talking nonsense. Why do people find this so difficult to grasp?
Maybe that was a tax loophole, because you’re buying an NFT that can be exchanged for an object?
These NFTs are a receipt for the physical object.
But I don’t understand completely why/if the secondary buyer (if in the UK) would have to also pay the primary VAT!?
You will always have to pay VAT when you redeem the NFT for the print. So if you are in the UK they will ask for 20% VAT before sending out the print, i.e. $700. Whether you are the original buyer or bought the NFT on the secondary market, the same principle applies. You didn't for The Currency so you are talking nonsense. Why do people find this so difficult to grasp? Maybe that was a tax loophole, because you’re buying an NFT that can be exchanged for an object? These NFTs are a receipt for the physical object. But I don’t understand completely why/if the secondary buyer (if in the UK) would have to also pay the primary VAT!? |
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Damien Hirst, The Empresses H10, by Lord Lucas Roham on Jan 29, 2022 13:58:38 GMT 1, You didn't for The Currency so you are talking nonsense. Why do people find this so difficult to grasp? It's not nonsense. If Heni are not collecting VAT from UK customers for physical artworks then they are breaking the law.
So they broke the law with The Currency?
I am sure they have people smarter than us advising them.
Also let me give you this scenario.
I buy the NFT for 3.5k, I sell for 6k, it's then resold for 15k, then resold for 10k, then 18k. Finally the Japense based buyer wants the physical and exchanges. Why would he need to pay 20% UK Vat on the initial 3.5k? Say he wanted it delivered to the UK. Why would he need to pay the 20%? Once its an NFT it's essentially a black hole.
You didn't for The Currency so you are talking nonsense. Why do people find this so difficult to grasp? It's not nonsense. If Heni are not collecting VAT from UK customers for physical artworks then they are breaking the law. So they broke the law with The Currency? I am sure they have people smarter than us advising them. Also let me give you this scenario. I buy the NFT for 3.5k, I sell for 6k, it's then resold for 15k, then resold for 10k, then 18k. Finally the Japense based buyer wants the physical and exchanges. Why would he need to pay 20% UK Vat on the initial 3.5k? Say he wanted it delivered to the UK. Why would he need to pay the 20%? Once its an NFT it's essentially a black hole. |
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Damien Hirst, The Empresses H10, by Happy Shopper on Jan 29, 2022 14:04:43 GMT 1, It's not nonsense. If Heni are not collecting VAT from UK customers for physical artworks then they are breaking the law. So they broke the law with The Currency? I am sure they have people smarter than us advising them. Also let me give you this scenario. I buy the NFT for 3.5k, I sell for 6k, it's then resold for 15k, then resold for 10k, then 18k. Finally the Japense based buyer wants the physical and exchanges. Why would he need to pay 20% UK Vat on the initial 3.5k? Say he wanted it delivered to the UK. Why would he need to pay the 20%? Once its an NFT it's essentially a black hole.
This is where I’m confused. Assuming Japan has import duty like the UK…. They wouldn’t pay UK VAT, but what would their Japan import duty be based on? The original 3.5k or the 18k they paid?
I assume the customs form from HENI would say 3.5, but the buyer would have no shipping insurance for their 18k purchase.
It's not nonsense. If Heni are not collecting VAT from UK customers for physical artworks then they are breaking the law. So they broke the law with The Currency? I am sure they have people smarter than us advising them. Also let me give you this scenario. I buy the NFT for 3.5k, I sell for 6k, it's then resold for 15k, then resold for 10k, then 18k. Finally the Japense based buyer wants the physical and exchanges. Why would he need to pay 20% UK Vat on the initial 3.5k? Say he wanted it delivered to the UK. Why would he need to pay the 20%? Once its an NFT it's essentially a black hole. This is where I’m confused. Assuming Japan has import duty like the UK…. They wouldn’t pay UK VAT, but what would their Japan import duty be based on? The original 3.5k or the 18k they paid? I assume the customs form from HENI would say 3.5, but the buyer would have no shipping insurance for their 18k purchase. |
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pema
New Member
🗨️ 71
👍🏻 31
October 2021
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Damien Hirst, The Empresses H10, by pema on Jan 29, 2022 14:06:50 GMT 1, I am pretty sure these 'Empresses' will emd up as a bad investment and will drag down the market for the virtues as well.
A ton of flippers and small scale galleries will buy them and they will end open with very large edition numbers. My estimate is 20.000 editions in total. And the little something Virtues haad going will also be less.
My price estimate a year from now is 3K for the empress - only holding up because people do not want to face the loss. In the long run the empress will end below the fruitful and forever print, because they also come with an important and nice history
I am pretty sure these 'Empresses' will emd up as a bad investment and will drag down the market for the virtues as well.
A ton of flippers and small scale galleries will buy them and they will end open with very large edition numbers. My estimate is 20.000 editions in total. And the little something Virtues haad going will also be less.
My price estimate a year from now is 3K for the empress - only holding up because people do not want to face the loss. In the long run the empress will end below the fruitful and forever print, because they also come with an important and nice history
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Petrusino
Junior Member
🗨️ 1,103
👍🏻 545
November 2011
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Damien Hirst, The Empresses H10, by Petrusino on Jan 29, 2022 14:07:59 GMT 1, It's not nonsense. If Heni are not collecting VAT from UK customers for physical artworks then they are breaking the law. So they broke the law with The Currency? I am sure they have people smarter than us advising them. Also let me give you this scenario. I buy the NFT for 3.5k, I sell for 6k, it's then resold for 15k, then resold for 10k, then 18k. Finally the Japense based buyer wants the physical and exchanges. Why would he need to pay 20% UK Vat on the initial 3.5k? Say he wanted it delivered to the UK. Why would he need to pay the 20%? Once its an NFT it's essentially a black hole.
who would spend 18k on an edition of at least 10k prints??
😅😂😅
It's not nonsense. If Heni are not collecting VAT from UK customers for physical artworks then they are breaking the law. So they broke the law with The Currency? I am sure they have people smarter than us advising them. Also let me give you this scenario. I buy the NFT for 3.5k, I sell for 6k, it's then resold for 15k, then resold for 10k, then 18k. Finally the Japense based buyer wants the physical and exchanges. Why would he need to pay 20% UK Vat on the initial 3.5k? Say he wanted it delivered to the UK. Why would he need to pay the 20%? Once its an NFT it's essentially a black hole. who would spend 18k on an edition of at least 10k prints?? 😅😂😅 |
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will gladly try this new project , has far i'm concerned , HENI are the more inovative in this field ... 
