Hammer Price
This is the price that the lot is sold for at auction. In
addition to this price, the buyer will have to pay a 'buyer's premium'
charge of 20% plus VAT.
Artist's Resale Rights (ARR)
In February 2006 a law was passed whereby living artist's have a
right to claim 4% of any monies over €1000 made
on their paintings or works of art in the 'second-hand' auction market.
This means that if we sell a painting for €1000
(roughly £800) or above, the purchaser has to pay an extra 4% of the hammer
price for Artist's Resale Rights. This is then passed on to DACS who
administer ARR and pay out to the relevant artists.
Buyer's Premium
All purchases are subject to a buyer's premium charge of 20% plus VAT.
