Please note carefully the exclusion of liability for the condition of lots contained in the Conditions of Sale. This is because such lots are sold using the Auctioneer’s Margin Scheme and it should be noted that the VAT included within the premium is not recoverable as input tax.Ħ. Lots which appear without either of the above symbols indicate that no VAT is payable on the hammer price. both the hammer price and the buyer’s premium). The double symbol (**) indicates that the lot has been imported from outside the European Union and the present position is that these lots are liable to a reduced rate of VAT (5%) on the gross lot price (i.e. This imposition of VAT is likely to be because the seller is registered for VAT within the European Union and is not operating the Dealers Margin Scheme or because VAT is due at 20% on importation into the UK. (*) indicates that VAT is payable by the purchaser at the standard rate (presently 20%) on the hammer price as well as beingan element in the buyer’s premium. In addition, VAT is added to this premium (see below).ĥ.
The Conditions of Sale oblige buyers to pay a buyer’s premium of 18% on the hammer price of each lot purchased. Estimates are prepared some time before the sale and may be altered by announcement before the sale. Estimates do not include the Buyer’s Premium or VAT (where chargeable). The lower estimate may represent the reserve price and certainly will not be below it. Estimates are designed to help buyers gauge what sort of sum might be involved for the purchase of a particular lot. Accordingly, if you buy your primary contract is with the seller.ģ. As Auctioneers we usually act as agents for the seller whose identity, for reasons of confidentiality, is not normally disclosed. Our staff will be happy to help you if there is anything you do not fully understand.Ģ. All sales are conducted on our printed Conditions of Sale which are readily available for inspection and normally accompany catalogues. The following informative notes are intended to assist Buyers, particularly those inexperienced or new to our salerooms.
0 kommentar(er)
