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Old 2nd Oct 2020, 12:02 pm   #17
Hartley118
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Join Date: Aug 2015
Location: Cambridge, Cambs. UK.
Posts: 2,196
Default Re: Skegness auction

Quote:
Originally Posted by Dave Moll View Post
Also, the buyer's premium is 15% before VAT is applied to the hammer price and premium, so you can add 38% to the hammer before adding their compulsory delivery charge, so caveat emptor.
The hammer price is actually normally VAT free because that's not part of the value added by the auction house. Commissions, however, do have VAT added to them, so in calculating costs, add 20% only to the commission charge, not to the total sale price. This site is pretty authoritative and echoes my own experience:

http://www.exploreauctions.co.uk/Auc...mmissions.html

"The commission the buyer pays, known as the buyer’s premium, is also charged on that price. To make matters worse, you’re also charged VAT at 20% on the commission (but generally speaking, not on the price paid at auction)."

A while ago I bought an antique microscope online at a Dugglebys Scarborough auction and I must say that I found the whole process reassuringly straightforward. I did blanch somewhat at the price of packing and carriage, but the standard of packing was extremely high, with accessories carefully wrapped separately by someone clearly experienced in packing delicate instruments. Overall, the package was much better protected than I've found with the average eBay purchase where we're typically dependent on those packing materials that the vendor happens to have to hand.

Martin
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