Published: December 7, 2004
Christie’s International has announced a new buyer’s premium for the majority of the firm’s salerooms worldwide.
Effective January 1, Christie’s current 191/2 percent buyer’s premium rate on the first $100,000 is to be increased by 1/2 percent to 20 percent at almost all Christie’s sites (exceptions are Australia and Italy, where there will be no change). Christie’s buyer’s premium of 12 percent on amounts exceeding $100,000 will remain unchanged.
At Christie’s Paris the rates will increase from 171/2 percent to 20 percent up to the threshold of $100,000 and from 10 percent to 12 percent above the threshold of $100,000.
In Australia, the premium will remain at 19 1/2 percent on the first AUD$200,000 and 12 percent on the amount exceeding AUD$200,000.
All premiums quoted above exclude local sales tax.
In Italy, the buyer’s premium will be 24 percent on the first $100,000 and remains 181/2 percent on any amount over $100,000. This premium is inclusive of all local sale taxes.
There will be no changes to premium thresholds at any of Christie’s sale sites, and the wine and car department premium rates will remain unchanged at all sites.
“Periodically a company must examine the viability of the rates they are charging for the services they provide in order to remain competitive in the market,” said Edward Dolman, Christie’s chief executive officer. “Christie’s last review of our fee structure took place in 2003, and this increase in our buyer’s premium effective January 2005 will help us to maintain the highest levels of client service in this most competitive current market,”
5 Church Hill Road / Newtown, CT 06470
Mon - Fri / 8:00 am - 5:01 pm