Bonhams charge a Buyer's Premium on each Lot purchased at the following standard rates:
25% on the first £50,000 of the Hammer Price
20% from £50,001 to £1,000,000 the Hammer Price
12% from £1,000,001 of the Hammer Price
Lower rates apply to cars, coins and medals, wine.
On certain Lots marked 'AR' in the catalog an Additional Premium will be payable by the Buyer for royalties relating to the Artists Resale Right Regulations 2006 currently:
From €0 to €50,000 Percentage 4%
From €50,000.01 to €200,000 Percentage 3%
From €200,000.01 to €350,000 Percentage 1%
From €350,000.01 to €500,000 Percentage 0.5%
Exceeding €500,000 Percentage 0.25%
Expenses payable by the Buyer for costs such as storage, removal and transport of a Lot are detailed in each catalog.
Local sales tax or VAT, at current rates, will generally be payable on the Premium and Expenses.