22 February 2019







     

 

Phillips Announces New Buyer’s Premium Structure

 

NEW YORK – 22 FEBRUARY 2019 – With effect from 23 February 2019, the Buyer’s Premium structure at Phillips auctions will change to:

 

·         London                 25.0% on the hammer price up to and including £300,000

20.0% on the hammer price exceeding £300,000 up to and including £3,000,000

13.5% on the hammer price exceeding £3,000,000

 

·         New York             25.0% on the hammer price up to and including $400,000

20.0% on the hammer price exceeding $400,000 up to and including $4,000,000

13.5% on the hammer price exceeding $4,000,000 and above

 

·         Hong Kong          25.0% on the hammer price up to and including HK$3,000,000

20.0% on the hammer price exceeding HK$3,000,000 up to and including HK$30,000,000

13.5% on the hammer price exceeding HK$30,000,000

 

·         Geneva                 25.0% on the hammer price up to and including CHF400,000

20.0% on the hammer price exceeding CHF400,00 up to and including CHF4,000,000

13.5% on the hammer price exceeding CHF4,000,000

 

The new structure will apply to all auctions occurring on or after 23 February 2019 in all categories sold by Phillips: 20th Century & Contemporary Art, Latin American Art, Design, Photographs, Editions, Watches and Jewelry.

 

 

Notes:

·          Buyer's Premium is the commission Phillips charges the successful highest bidder and buyer of the lot.  It is calculated on the hammer price of the lot on a cumulative basis.

·          The above rates exclude local sales taxes which may apply to the buyer’s premium, hammer price or both.

·          For details, including guidance on calculating the total purchase price, please see the Auction Buyer’s Guides on our website.

 

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ABOUT PHILLIPS

Phillips is a leading global platform for buying and selling 20th and 21st century art and design. With dedicated expertise in the areas of 20th Century and Contemporary 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.  In addition to providing selling and buying opportunities through auction, Phillips brokers private sales and offers assistance with appraisals, valuations, and other financial services.

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 CONTACT:    Michael Sherman, Chief Communications Officer         msherman@phillips.com          +1 212 940 1384


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