Bonhams
Bonhams has raised its buyer’s premium levels effective from March 4. Photo credit: Grant Smith.

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It has added a new threshold of 27.5% on the first £2500/$3000 of the hammer price. 

Christie’s, Sotheby’s and Phillips all raised their buyer’s premium levels in February although without introducing the new 27.5% threshold.

Bonhams' new levels are:

  • 27.5% on the first £2500/$3000 of the hammer price; 
  • 25% of the hammer price of amounts in excess of £2500/$3000 up to and including £300,000/ $400,000; 
  • 20% of the hammer price of amounts in excess of £300,000/$400,000 up to and including £3m/ $4m; 
  • 13.9% of the hammer price of any amounts in excess of  £3m/$4m.

Bonhams changes apply to all categories excluding cars, motorbikes, wine and coin & medal sales.

Sotheby’s has increased its buyer’s premium to a level that goes beyond the recent changes announced by Christie’s. Christie’s raised its buyer’s premium, increasing the level at which its 25% threshold applies and adding an extra percentage point to its charges above £3m. 

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The new levels of buyer's premium at Sotheby's, Christie's and Phillips.

Click the links here to see changes for Christie’s buyer’s premium and Sotheby’s and Phillips changes in detail.