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Emulating Sotheby’s, who at the end of December looked to have stolen a small march on the competition with a subtle change in premium thresholds, most Christie’s rooms will now charge 20% of the hammer price on the first £100,000 and 12% thereafter. In New York the 20% rate will operate up to $200,000 while other international salerooms will use an appropriate local conversion.

Previously, the buyer’s premium charged on Christie’s sales was generally 20% of the hammer price on the first £70,000 and 12% of any remaining amount over £70,000 on each lot.