What is a Buyer's Premium?

A buyer's premium is a charge the winning bidder pays in addition to the lot's hammer price. It is calculated as a percentage of the hammer price, at the rates indicated below. If a lot has a buyer's premium, this will be indicated on the bidding screen where you place your bid. After the auction, the winning bidder will receive a summary of their purchase, including the hammer price and buyer's premium, along with any applicable taxes.

Buyer's Premium For This Auction on Artsy

  • On the hammer price up to and including £100,000: 30%
  • On the hammer price in excess of £100,000 up to and including £1,000,000: 24%
  • On the portion of the hammer price in excess of £1,000,000: 14.4%