Sotheby's Increase Buyer's Premium Threshold

Sotheby's has just tweaked its buyer premiums in most major markets.  Sotheby's states "Efective 13 November 2016, Sotheby’s will make modest changes to its Buyer’s Premium Schedule. For details, please see the chart below; to download the schedule, please click here. Sotheby’s last adjusted its fees in February 2015. The changes to the Buyer's Premium are expected to impact 5-10% of all lots. Please note these changes do not affect sales of Wine or sales held in Beijing. "

The main change appears to be an increase in the thresholds, such as for New York the previous high amount was 25% for puchases up to $200,000. Effective November 13, 2016 to moves to $250,000.

The new buyer's premium charts, as supplied by Sotheby's

Click Image to Enlarge

Source: Sotheby's

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