How do I register, and how long does it take?
Registration closes at noon on the day of the sale. You will need photographic
identification, proof of address dated within three months, and — for a first purchase above
£25,000 — a bank reference. New clients are usually cleared within two hours; if you are
registering for a specific lot above £100,000 we ask for a deposit of 20% of the low estimate,
returned in full if you are unsuccessful.
What is the buyer's premium, and is VAT charged on it?
26% of the hammer on the first £700,000, 20% on the portion between £700,000 and
£4,500,000, and 14.5% on anything above that. VAT at 20% is charged on the premium itself, not
on the hammer, unless the lot is marked with a dagger in the catalogue. The calculator above
works exactly as our invoicing system does — put your figure in and it will show you the tiers.
What is the artist's resale right and when does it apply?
A royalty payable to a living artist, or to the estate for seventy years after
death, on qualifying original works sold for €1,000 or more. It is charged in bands from 4%
down to 0.25% and capped at €12,500 on any single lot. Lots that attract it carry a small
asterisk in the catalogue. We collect it and pass it on; we take nothing from it.
Can I bid without watching the sale?
Yes, three ways. Leave a commission bid — a maximum with our book, which we execute
as cheaply as the competition allows, exactly as the panel in the saleroom above does. Book a
telephone line, and a member of staff will call you two lots before yours. Or bid live on the
internet platform, where the increments are identical and a 3% surcharge applies.
What happens if the reserve is not met?
The lot is bought in. The auctioneer will say “passed” and move on; nothing is
charged to the consignor and nothing is owed by the room. Reserves are agreed in writing before
the sale and may never exceed the low estimate — a rule the house has kept since 1884 and one
that a surprising number of rooms do not.
When must I pay and collect?
Payment is due within five working days by bank transfer, debit card or, up to
£5,000, credit card. Collection from Bury Street is free for fourteen days, after which storage
is £6 a lot a day. We will pack and ship anywhere; the shipping desk quotes before you commit
and uses three carriers so you are not stuck with one price.
Do I need an export licence?
For works over fifty years old and above the relevant value threshold, yes — and we
apply for it on your behalf at no charge. Most licences are granted within twenty-eight days.
Occasionally a work of national importance is deferred, which we will warn you about before the
sale rather than after it, because the catalogue note will already say so.