Buyer's premium is the additional auctioneer's fee that is added for buying a lot at auction. It is calculated as a percentage of the hammer price. For any lot that you win, you will need to pay the the hammer price + the buyer's premium.
On our website, all buyer's premiums are displayed inclusive of VAT, where applicable.
- An auctioneer's buyer's premium is 15% including VAT.
- You win a lot in the auction for a hammer price of £100.
- The total that you will pay for the lot is £115 (excluding any additional charges such storage or shipping fees).
It is suggested that you have considered the buyer's premium when calculating your maximum bid prior to bidding.