![]() ![]() The absence of a report does not imply that a lot is without imperfections. This is because such lots are sold using the Auctioneers’ Margin Scheme and it should be noted that the VAT included within the Premium is not recoverable as input tax.Ĭondition reports are provided on our website or upon request. Lots which appear without either of the above symbols indicate that no VAT is payable on the hammer price. The double symbol (**) indicates that the lot has been imported from outside the European Union and the present position is that these lots are liable to a reduced rate of VAT (5%) on the gross lot price (i.e.īoth the hammer price and the buyer’s premium). This imposition of VAT is likely to be because the seller is registered for VAT within the European Union and is not operating the Dealers Margin Scheme or because VAT is due at 20% on importation into the UK. ![]() (*) indicates that VAT is payable by the purchaser at the standard rate (presently 20%) on the hammer price as well as being an element in the buyer’s premium. Buyers will pay a live bidding charge of 3% of the hammer price if lots are successfully purchased online. 12% (14.40% including VAT) on the balance of items with a Hammer Price of £150,001 and over. Normal buyers premium apply.Įxcept Wine sales where Buyer's Premium 17% of the Hammer Price plus VAT (20.4% including VAT) for items up to £150,000. Buyers will pay a live bidding charge of 1% of the hammer price if lots are successfully purchased online. The Buyer agrees to pay a buyer's premium on the hammer price of each lot purchased.īuyer's Premium 24% of the Hammer Price plus VAT (28.8% including VAT) for items up to £150,000. The lower estimate may represent the reserve price and certainly will not be below it.Įstimates do not include the Buyer’s Premium or VAT (where chargeable).Įstimates are prepared some time before the sale and may be altered by announcement before the sale. Our staff will be happy to help you if there is anything you do not fully understand.Īs auctioneers we usually contract as agents for the seller whose identity, for reasons of confidentiality, is not normally disclosed.Īccordingly if you buy your primary contract is with the seller.Įstimates are designed to help buyers gauge what sort of sum might be involved for the purchase of a particular lot. ![]() The following informative notes are intended to assist Buyers, particularly those inexperienced or new to our salerooms.Īll sales are conducted on our printed Conditions of Sale which are readily available for inspection and normally accompany catalogues. These Conditions of Sale and Business constitute the contract between Dreweatts and Bloomsbury Auctions (the “Auctioneer”) and the seller, on the one hand, and the buyer on the other.īy bidding at the auction, you agree to be bound by these terms. ![]()
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