Buyer's and seller's premiums
Auctioneers charge buyers and sellers a percentage of the hammer price - known respectively as the buyer's premium and the seller's premium (the latter is also referred to as vendor's premium, vendor's commission or seller's commission). This fee in the UK is usually also subject to VAT.
Each auctioneer sets its own rates for these premiums. Check their terms and conditions for details.
ATG letter: Charity sale buyer’s fee will be optional
22 July 2024With regard to ‘Charity sales: should buyer’s premium be charged?’ (News, ATG No 2652), we are hosting a huge sale for the Alexander Devine Children’s Hospice in Maidenhead on Tuesday, August 7.
![Gavel Spotlight](/media/105255/gavel-spotlight.jpg?rxy=0.34333333333333332,0.584051724137931&mode=crop&width=125&height=125&rnd=133655176390000000)
Charity sales: should buyer’s premium be charged?
15 July 2024Bonhams has clarified its stance on buyer’s premium charged for charity sales after a dealer claimed the firm benefited from fees in a recent auction.
News in brief including Sotheby’s new fees structure coming into effect
27 May 2024A round-up of art and antiques news from the previous seven days, including the new fees for buyers and sellers at Sotheby’s now applying globally.
![Sotheby’s New Bond Street](/media/103431/sothebys-new-bond-street-2645ne-23-05-2024v2.jpg?rxy=0.54562043795620441,0.59002433090024331&mode=crop&width=125&height=125&rnd=133608720670000000)
Sotheby’s new pricing structure comes into effect
23 May 2024Auction house reduces buyers’ and sellers’ fees but rivals are yet to follow suit
![img_63-2.jpg](/media/100380/img_63-2.jpg?rxy=0.41825095057034223,0.28693181818181818&mode=crop&width=125&height=125&rnd=133527327010000000)
ATG letters: What the trade thinks of the buyer’s premium
19 February 2024Sotheby’s recent decision to lower and simplify its charges sparked a flurry of reaction which we published in last week’s issue (ATG No 2630). Letters to our bulging postbag followed soon after.
![img_6-2.jpg](/media/100151/img_6-2.jpg?rxy=0.52991452991452992,0.56554307116104874&mode=crop&width=125&height=125&rnd=133522078250000000)
Dealers and auctioneers react after Sotheby’s shock changes to both buyer’s and vendor’s fees
12 February 2024The surprise decision by Sotheby’s to cut its buyer’s premium and standardise its vendor fees sparked a wave of comments across the art and antiques trade.
![Most Read.jpg](/media/34324/most-read.jpg?rxy=0.48987108655616945,0.5&mode=crop&width=125&height=125&rnd=131837333650000000)
Top stories this week including news of Sotheby’s overhauling its fees structure
11 February 2024The most viewed stories on this website over the last week included news of Sotheby’s announcing a major shake-up of its customers’ fees including a reduction of its buyer’s premium.
![Sotheby’s saleoom New Bond Street](/media/99737/sothebys-new-bond-street-2628ne-01-02-2024.jpg?rxy=0.51773049645390068,0.58913813459268&mode=crop&width=125&height=125&rnd=133511945960000000)
Sotheby’s slashes buyer's fees and sets seller's commission at standard rate
03 February 2024Sotheby’s has announced a major shake-up of its customers’ fees, reducing its buyer’s premium for the first time since it was introduced in 1979 and setting seller's commission at a standard rate.
![Bonhams](/media/93589/2601ne-bonhams.jpg?anchor=center&mode=crop&width=125&height=125&rnd=133334535370000000)
Buyer’s premium now raised at all the major players
10 July 2023The flagship London summer sales were the first to take place since the major auction houses all raised their buyer’s premiums in the first half of 2023.
![img_4-2.jpg](/media/91768/img_4-2.jpg?rxy=0.49546279491833028,0.73177083333333337&mode=crop&width=125&height=125&rnd=133286151590000000)
Christie’s raises buyer’s premium... then sets a Rousseau record
15 May 2023Christie’s first major auction series since raising its buyer’s premium last month kicked off in New York offering Impressionist and Modern art.
![img_59-1.jpg](/media/67804/img_59-1.jpg?rxy=0.44142614601018676,0.329608938547486&mode=crop&width=125&height=125&rnd=132675334940000000)
ATG letter: Buyer's premium – to quote or not to quote, that is the question
07 June 2021I’m just wondering why you still persist in showing auction prices without including the buyer’s premium charges.
![Phillips Berkeley Square, London](/media/61414/phillips-london-2468ne.jpg?rxy=0.640625,0.693089430894309&mode=crop&width=125&height=125&rnd=132499890590000000)
Buyer's premium rises at Bonhams and Phillips
16 November 2020Auction houses Bonhams and Phillips have both increased their buyer's premium.
![Christie's King Street landscape.jpg](/media/60107/christies-king-street-landscape.jpg?anchor=center&mode=crop&width=125&height=125&rnd=132469941730000000)
Christie’s takes third way on premium structure
12 October 2020Christie’s has changed its buyer’s premium levels this autumn – creating clear air between its fee structure and those used at Sotheby’s and Bonhams.
ATG letter: Sotheby’s shop – will there be a buyer’s premium?
12 October 2020MADAM – I note that Sotheby’s will be opening a retail shop at their Bond Street premises (News, ATG No 2462).
![img_55-1.jpg](/media/58115/img_55-1.jpg?rxy=0.17758985200845667,0.33905579399141633&mode=crop&width=125&height=125&rnd=132421420520000000)
ATG letters: Sotheby’s 'overhead' fee – so what is the point of buyer’s premium?
17 August 2020MADAM – ATG's report ‘Sotheby’s introduces new fee on top of the hammer price and buyer’s premium’ (News, ATG No 2454) will raise eyebrows.
![Sotheby's London](/media/57883/sothebys-new-bond-street-2454ne.jpg?rxy=0.59748427672955973,0.590782122905028&mode=crop&width=125&height=125&rnd=132415250730000000)
Sotheby’s introduces new fee on top of the hammer price and buyer’s premium
10 August 2020Sotheby’s has introduced a new fee called an ‘Overhead Premium’ that is payable by all auction buyers across its salerooms and online auctions globally.
DNW challenges status quo with premium rise at numismatic sales
05 August 2019Dix Noonan Webb (DNW) has become the first UK numismatics auction house to set its buyer’s premium beyond 20%. The London coins, medal and jewellery specialist will charge a premium of 24% from September.
![Dix Noonan Webb London](/media/45437/dix-noonan-webb-london-2403ne-29-07-19.jpg?rxy=0.61218836565096957,0.774&mode=crop&width=125&height=125&rnd=132085471010000000)
Buyer’s premium rise for leading UK coin auctioneer
29 July 2019Dix Noonan Webb (DNW) has become the first UK numismatics auctioneer to set its buyer’s premium beyond 20%. The London-based coins, medal and jewellery specialist will charge a premium of 24% from September.
ATG letter: Fee rises need to be much clearer
18 March 2019MADAM – I believe auction houses should make it clear to bidders that buyer’s premium has gone up and the fee does not include VAT.
![Bonhams](/media/39947/bonhams-building-grant-smith_101-front-of-building-gcs1149.jpg?anchor=center&mode=crop&width=125&height=125&rnd=131961650670000000)
Bonhams introduces 27.5% premium threshold to "reflect the cost of bringing objects to global auctions”
11 March 2019Auction house Bonhams has raised its buyer’s premium levels, adding a new threshold of 27.5% on the first £2500/$3000 of the hammer price.
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