Buyer’s Premium at 24 % (including vat) is payable on all purchases.
For Live Online Bidding an additional fee of 6% (including vat) is added.
FOR ART AUCTIONS
Fees may also be applicable for certain art works under Artist Resale Rights:
Certain lots that sell for 1000 euro or more (GBP equivalent) may be subject to artists resale fee which is 4% (no VAT).
Artist's Resale Right ("Droit de Suite")
Droit de Suite is a royalty payable to a qualifying artist or the artist’s heirs each time a work is resold during the artist’s lifetime and up to a period of 70 years after the artist’s death.
The fee is currently 4% charge* for art work selling for over the GBP equivalent of 1000 euro.
The buyer agrees to pay Plymouth Auction Rooms an amount equal to the resale royalty and we will pay such amount to the artist's collecting agent. Resale royalty applies where the Hammer Price is 1,000 Euro or more and the amount cannot be more than 12,500 Euro per lot.
*The amount is calculated as follows: Royalty for the portion of the Hammer Price (in Euro) 4.00% up to 50,000 3.00% between 50,000.1 and 200,000 1.00% between 200,000.1 and 350,000 0.50% between 350,000.01 and 500,000 0.25% in excess of 500,000 Invoices will, as usual, be issued in Pounds Sterling. For the purposes of calculating the resale royalty the Pounds Sterling/Euro rate of exchange will be the European Central Bank reference rate on the day of the sale.