12 September 2017

Phillips Announces Change in Buyer’s Premium

NEW YORK – 12 SEPTEMBER 2017 – With effect from 12 September, 2017, the Buyer’s Premium structure at Phillips auctions will be changed to:

 25% of the hammer price up to and including $300,000 (or £180,000/CHF 250,000/HKD 2,000,000);

 20% of the portion of the hammer price above $300,000 (or £180,000/CHF 250,000/HKD 2,000,000) up to and including $4,000,000 (or £3,000,000/CHF 4,000,000/HKD 30,000,000);

 12.5% of the portion of the hammer price above $4,000,000 (or £3,000,000/CHF 4,000,000/HKD 30,000,000).

The change will apply to all categories sold by Phillips: 20th Century & Contemporary Art, Latin American Art, Design, Photographs, Editions, Watches and Jewelry.

Phillips is a leading global platform for buying and selling 20th and 21st century art and design. With dedicated expertise in the areas of Art, Design, Photographs, Editions, Watches, and Jewelry, Phillips offers professional services and advice on all aspects of collecting. Auctions and exhibitions are held at salerooms in New York, London, Geneva, and Hong Kong, while clients are further served through representative offices based throughout Europe, the United States and Asia. Phillips also offers an online auction platform accessible anywhere in the world, and is committed to supporting contemporary arts and culture through a worldwide programme of Arts Partnerships.

Visit www.phillips.com for further information.

*Estimates do not include buyer’s premium; prices achieved include the hammer price plus buyer’s premium.

PRESS CONTACTS: NEW YORK - Michael Sherman, Chief Communications Officer msherman@phillips.com +1 212 940 1384

HEADQUARTERS: LONDON - 30 Berkeley Square, London W1J 6EX | NEW YORK - 450 Park Avenue, New York, NY 10022
VISIT US AT: www.phillips.com
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