All condition reports are provided in good faith. If this is not possible, however, we will be pleased to provide condition reports on lots where practical. Full details can be found in the general information section for the sale.Īll prospective bidders are encouraged to attend the exhibition and view lots in person. Our auctions are also on public view prior to and for the duration of the auction. Our sales are held at Sotheby’s auction room, 34-35 New Bond Street, London, W1A 2AA. Portion of the hammer price (in Euros) Royalty Rateįor further information on Artist's Resale Rights see Design and Artists Copyright Society (DACS) website Auction & Exhibition venue Purchase of these lots will be subject to the payment of an Artist's Resale Right, at a percentage of the hammer price calculated as follow: Some lots may be subject to artist's resale rights and if so will be indicated at lot level. Buyers are reminded that it is their responsibility to comply with UK export regulations and with any local import requirements. If however the buyer is handling the export in person or through an instructed shipper outside the control of the auctioneer, the VAT will have to be paid and then reclaimed by the buyer or the buyer’s shipper at the port of departure. If a non-European Union (EU) buyer instructs the auctioneer to export a purchased lot outside of the EU, then the auctioneer can demonstrate proof of export and is thereby authorised to remove the VAT from the buyer’s invoice. The invoice total for ZR lots will be therefore be the hammer price + 20.5%. Under VAT rules some lots are deemed to be zero rated (ZR) for VAT purposes, such as books, programmes, magazines, newspapers etc. The invoice total for the majority of lots will be therefore be the hammer price + 24.6% inclusive of VAT. The majority of lots in the auction are offered under the Auctioneer’s Margin Scheme (AMS) and as such BP is subject to VAT (currently set at a rate of 20% in the UK). The reserve price is never set higher than the low pre-sale estimate.Ī buyer’s premium (BP) of 20.5% is applicable to all lots in this sale when bidding with Graham Budd Auctions via. The estimates are exclusive of buyer’s premium and VAT.Īll lots are subject to reserves. Estimates can be subject to revision in which case a saleroom notice will be posted. The actual hammer price of a lot may be higher or lower than the range of figures given and there are no predetermined starting prices. IMPORTANT INFORMATION FOR BIDDERS & BUYERSĪll lots are offered subject to Graham Budd Auctions Ltd's Conditions of Business which you can view here.Įstimates are published as a guide only and are subject to review.
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