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- Jun 2, 2013
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P.S. Because buyer premiums are so much higher nowadays than the commission that sellers pay, here's Christie's current schedule of buyer's premiums (Sotheby's is the same; Bonhams' is structured somewhat differently):
www.christies.com
On a "hammer price" of $1 million dollars, the top bidder will pay an additional $195,000. Assuming that she is charged a 10% seller's commission (plus ancillary fees for photograph & shipping, if it's sent to another location), she will net much more than $500,000. Even if the hypothetical buyer wants the "all in" price to be $1 million, meaning a hammer price of just about $840,000, she'd still net more appreciably more.
It would be very interesting and informative for us to hear what the auction house(s) think is the appropriate price range estimate & what she learned about their private sales program for jewelry-gems, if she explores that in her discussions.
Financial Information: Buying at Christie's
Related information about buying at Christie's including Buyer's Premium, Financial information and more
On a "hammer price" of $1 million dollars, the top bidder will pay an additional $195,000. Assuming that she is charged a 10% seller's commission (plus ancillary fees for photograph & shipping, if it's sent to another location), she will net much more than $500,000. Even if the hypothetical buyer wants the "all in" price to be $1 million, meaning a hammer price of just about $840,000, she'd still net more appreciably more.
It would be very interesting and informative for us to hear what the auction house(s) think is the appropriate price range estimate & what she learned about their private sales program for jewelry-gems, if she explores that in her discussions.