singerstu
New Member
๐จ๏ธ 759
๐๐ป 517
December 2007
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by singerstu on Sept 18, 2020 12:02:19 GMT 1, *** ENGINES RUNNING - THIS IS WHAT THE BUYER PAYS CURRENTLY BEFORE THE ACTION LATER #BIG *** US Flower Thrower ยฃ93,800 / $121,940 US HC ยฃ53,600 / $69,680 US GS ยฃ34,840 / $44,664 US QV ยฃ29,480 / $38,029 Signed TM ยฃ60,300 / $78,390 US FC ยฃ42,880 / $55,744 US BL ยฃ40,200 / $51,858 US I Fought The Law ยฃ34,840 / $44,943 US Napalm ยฃ26,800 / $34,840 Signed Girl With Balloon ยฃ402,000 / $522,600 Signed WTH (Pink) ยฃ64,320 / $83,616 Signed GOWYC ยฃ80,400 / $104,520 Signed BIM ยฃ64,320 / $83,616 Signed LR ยฃ87,100 / $113,230 Signed Jack and Jill ยฃ60,300 / $77,787 Grin Reaper ยฃ67,000 / $87,100 US Flags ยฃ34,840 / $45,292 Signed Grannies ยฃ50,920 / $65,279 US Applause ยฃ32,160 / ยฃ41,486 Sepia Morons ยฃ56,280 / $73,164 Nola AP (Green Rain) ยฃ187,600 / $243,880 Very Little Helps ยฃ46,900 / $60,125 Sale Ends V2 ยฃ42,800 / $55,315 Is the Nola an AP?? i thought it was from a small edition? and the AP's were all multi colour rain??
Itโs from an edition of 31. There are 31 Green and 32 Orange. These are separate from the Multi Rain A/Pโs
*** ENGINES RUNNING - THIS IS WHAT THE BUYER PAYS CURRENTLY BEFORE THE ACTION LATER #BIG *** US Flower Thrower ยฃ93,800 / $121,940 US HC ยฃ53,600 / $69,680 US GS ยฃ34,840 / $44,664 US QV ยฃ29,480 / $38,029 Signed TM ยฃ60,300 / $78,390 US FC ยฃ42,880 / $55,744 US BL ยฃ40,200 / $51,858 US I Fought The Law ยฃ34,840 / $44,943 US Napalm ยฃ26,800 / $34,840 Signed Girl With Balloon ยฃ402,000 / $522,600 Signed WTH (Pink) ยฃ64,320 / $83,616 Signed GOWYC ยฃ80,400 / $104,520 Signed BIM ยฃ64,320 / $83,616 Signed LR ยฃ87,100 / $113,230 Signed Jack and Jill ยฃ60,300 / $77,787 Grin Reaper ยฃ67,000 / $87,100 US Flags ยฃ34,840 / $45,292 Signed Grannies ยฃ50,920 / $65,279 US Applause ยฃ32,160 / ยฃ41,486 Sepia Morons ยฃ56,280 / $73,164 Nola AP (Green Rain) ยฃ187,600 / $243,880 Very Little Helps ยฃ46,900 / $60,125 Sale Ends V2 ยฃ42,800 / $55,315 Is the Nola an AP?? i thought it was from a small edition? and the AP's were all multi colour rain?? Itโs from an edition of 31. There are 31 Green and 32 Orange. These are separate from the Multi Rain A/Pโs |
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Deleted
๐จ๏ธ 0
๐๐ป
January 1970
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Deleted on Sept 18, 2020 12:08:51 GMT 1, Is the VAT the buyer pays on the hammer price or the total mark up price?
I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got:
Hammer price ยฃ 50,000.00
VAT on Hammer ยฃ -
Buyers Premium ยฃ 12,500.00
Vat on Premium ยฃ 2,500.00
Overhead Premium ยฃ 500.00
Vat on OP ยฃ 100.00
Artist's Resale Right ยฃ 1,915.00
Total Paid by Buyer ยฃ 67,515.00
Is the VAT the buyer pays on the hammer price or the total mark up price? VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00 |
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ricardob
New Member
๐จ๏ธ 451
๐๐ป 250
March 2008
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by ricardob on Sept 18, 2020 12:11:50 GMT 1, Global Financial Crisis... I was offered one for 10k and didnโt buy it ๐๐๐ You'll be in good company on this forum of bad decisions - I feel your pain trust me.
I was offered a lot of stuff back then and bought a few things but shouldโve bought more for my retirement nest ๐๐๐
No regrets though. I buy what I like. I just bought a nice canvas today from a great artist called Leah Brady. She does amazing stuff and it is still affordable
Global Financial Crisis... I was offered one for 10k and didnโt buy it ๐๐๐ You'll be in good company on this forum of bad decisions - I feel your pain trust me. I was offered a lot of stuff back then and bought a few things but shouldโve bought more for my retirement nest ๐๐๐ No regrets though. I buy what I like. I just bought a nice canvas today from a great artist called Leah Brady. She does amazing stuff and it is still affordable |
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ricardob
New Member
๐จ๏ธ 451
๐๐ป 250
March 2008
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by ricardob on Sept 18, 2020 12:16:22 GMT 1, Is the Nola an AP?? i thought it was from a small edition? and the AP's were all multi colour rain?? Itโs from an edition of 31. There are 31 Green and 32 Orange. These are separate from the Multi Rain A/Pโs
You wonder how much the unique (?) multicolor NOLA from the POW open day would sell for. I am sure the winner was someone that used to be part of this forum
Is the Nola an AP?? i thought it was from a small edition? and the AP's were all multi colour rain?? Itโs from an edition of 31. There are 31 Green and 32 Orange. These are separate from the Multi Rain A/Pโs You wonder how much the unique (?) multicolor NOLA from the POW open day would sell for. I am sure the winner was someone that used to be part of this forum |
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toshspice
New Member
๐จ๏ธ 676
๐๐ป 878
January 2006
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by toshspice on Sept 18, 2020 12:18:53 GMT 1, Is the VAT the buyer pays on the hammer price or the total mark up price? VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00
Is the VAT the buyer pays on the hammer price or the total mark up price? VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00 Thanks for the heads up. |
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cnrdvln
Junior Member
๐จ๏ธ 1,404
๐๐ป 1,489
February 2017
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by cnrdvln on Sept 18, 2020 12:20:49 GMT 1, is this the one from MOCO in amsterdam?
is this the one from MOCO in amsterdam? |
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Dexter Bulldog on Sept 18, 2020 12:21:54 GMT 1, Is the VAT the buyer pays on the hammer price or the total mark up price? VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00
Is the VAT the buyer pays on the hammer price or the total mark up price? VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00 so any print up to GBP 300k, according to this, would have 35% in fees added. |
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shanuk
New Member
๐จ๏ธ 37
๐๐ป 25
June 2016
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by shanuk on Sept 18, 2020 12:29:46 GMT 1, Thatโs not the one from MOCO. Figure was in the middle on that one
Thatโs not the one from MOCO. Figure was in the middle on that one
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toshspice
New Member
๐จ๏ธ 676
๐๐ป 878
January 2006
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by toshspice on Sept 18, 2020 12:30:56 GMT 1, VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00 so any print up to GBP 300k, according to this, would have 35% in fees added.
VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00 so any print up to GBP 300k, according to this, would have 35% in fees added. + 3% for artists re-sale if hammer is ยฃ50k |
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Dexter Bulldog on Sept 18, 2020 12:35:54 GMT 1, is this the one from MOCO in amsterdam?
is this the one from MOCO in amsterdam? wow some A+ works coming out of the woodwork with this and show me the monet.. amazing |
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teabaggins
New Member
๐จ๏ธ 930
๐๐ป 1,559
November 2018
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by teabaggins on Sept 18, 2020 12:37:03 GMT 1, VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00 so any print up to GBP 300k, according to this, would have 35% in fees added.ย
Unless you live in a country that doesnโt charge VAT.. Which applies to a LOT of us.
VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00 so any print up to GBP 300k, according to this, would have 35% in fees added.ย Unless you live in a country that doesnโt charge VAT.. Which applies to a LOT of us. |
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Dexter Bulldog on Sept 18, 2020 12:41:46 GMT 1, so any print up to GBP 300k, according to this, would have 35% in fees added. Unless you live in a country that doesnโt charge VAT.. Which applies to a LOT of us.
so any print up to GBP 300k, according to this, would have 35% in fees added. Unless you live in a country that doesnโt charge VAT.. Which applies to a LOT of us. well, in the us id have to pay almost 10% use tax... and shipping .. and insurance.. seems its a good ballpark |
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Deleted
๐จ๏ธ 0
๐๐ป
January 1970
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Deleted on Sept 18, 2020 12:47:13 GMT 1, Really excited to see, where they all stand when the hammer fall down.
Really excited to see, where they all stand when the hammer fall down.
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teabaggins
New Member
๐จ๏ธ 930
๐๐ป 1,559
November 2018
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by teabaggins on Sept 18, 2020 12:51:05 GMT 1, Unless you live in a country that doesnโt charge VAT.. Which applies to a LOT of us. well, in the us id have to pay almost 10% use tax... and shipping .. and insurance.. seems its a good ballparkย
This is the problem here though. Some try to add in EVERY possible cost which feels a very hype beast approach. Shipping? Insurance? Why not add on cost of framing and home insurance while we are at it? My point is that itโs actually a very easy equation and you canโt paint Vat with such a braid brush. Taxes are an extremely subjective additional and can be / are reduced drastically depending on the buyers location and understanding of tax laws. To each their own of course. We can wind the final price up to outer space of thatโs the point of this discussion.
Unless you live in a country that doesnโt charge VAT.. Which applies to a LOT of us. well, in the us id have to pay almost 10% use tax... and shipping .. and insurance.. seems its a good ballparkย This is the problem here though. Some try to add in EVERY possible cost which feels a very hype beast approach. Shipping? Insurance? Why not add on cost of framing and home insurance while we are at it? My point is that itโs actually a very easy equation and you canโt paint Vat with such a braid brush. Taxes are an extremely subjective additional and can be / are reduced drastically depending on the buyers location and understanding of tax laws. To each their own of course. We can wind the final price up to outer space of thatโs the point of this discussion. |
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toshspice
New Member
๐จ๏ธ 676
๐๐ป 878
January 2006
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by toshspice on Sept 18, 2020 13:02:00 GMT 1, VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00 Thanks for the heads up.
So lv90210 's buyers calculation for ยฃ320k hammer Signed Girl With Balloon (ยฃ402,000 / $522,600) is wrong then?
VAT on premium. I asked Sothebys for a breakdown on fees with an example ยฃ50,000 hammer. This is what I got: Hammer price ยฃ 50,000.00 VAT on Hammer ยฃ - Buyers Premium ยฃ 12,500.00 Vat on Premium ยฃ 2,500.00 Overhead Premium ยฃ 500.00 Vat on OP ยฃ 100.00 Artist's Resale Right ยฃ 1,915.00 Total Paid by Buyer ยฃ 67,515.00 Thanks for the heads up. So lv90210 's buyers calculation for ยฃ320k hammer Signed Girl With Balloon (ยฃ402,000 / $522,600) is wrong then? |
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Lazarus II
Junior Member
๐จ๏ธ 1,804
๐๐ป 2,429
August 2019
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Lazarus II on Sept 18, 2020 13:04:42 GMT 1, Thanks for the heads up.ย Soย lv90210 's buyers quote for ยฃ320k hammer Signed Girl With Balloon (ยฃ402,000 / $522,600)ย is wrong then?
he wont let the truth get in the way of an inflated price.
Thanks for the heads up.ย Soย lv90210 's buyers quote for ยฃ320k hammer Signed Girl With Balloon (ยฃ402,000 / $522,600)ย is wrong then? he wont let the truth get in the way of an inflated price. |
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Dexter Bulldog on Sept 18, 2020 13:08:24 GMT 1, well, in the us id have to pay almost 10% use tax... and shipping .. and insurance.. seems its a good ballpark This is the problem here though. Some try to add in EVERY possible cost which feels a very hype beast approach. Shipping? Insurance? Why not add on cost of framing and home insurance while we are at it? My point is that itโs actually a very easy equation and you canโt paint Vat with such a braid brush. Taxes are an extremely subjective additional and can be / are reduced drastically depending on the buyers location and understanding of tax laws. To each their own of course. We can wind the final price up to outer space of thatโs the point of this discussion.
well, in the us id have to pay almost 10% use tax... and shipping .. and insurance.. seems its a good ballpark This is the problem here though. Some try to add in EVERY possible cost which feels a very hype beast approach. Shipping? Insurance? Why not add on cost of framing and home insurance while we are at it? My point is that itโs actually a very easy equation and you canโt paint Vat with such a braid brush. Taxes are an extremely subjective additional and can be / are reduced drastically depending on the buyers location and understanding of tax laws. To each their own of course. We can wind the final price up to outer space of thatโs the point of this discussion. no hype intended. if i want to buy a banana, i have to pay tax, same thing for a banksy. thats the price. the few times ive considered auctions ive backed away because all the extras become overwhelming( even though it was in retrospect the wrong decision). again, no hyping intended, but if i had a gwb and needed to insure it, if i dont figure those costs in to my valuation, then i am not getting a gwb if my house gets robbed. |
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marquis
New Member
๐จ๏ธ 67
๐๐ป 50
January 2020
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by marquis on Sept 18, 2020 13:12:39 GMT 1, Soย lv90210 's buyers quote for ยฃ320k hammer Signed Girl With Balloon (ยฃ402,000 / $522,600)ย is wrong then? he wont let the truth get in the way of an inflated price.
It will be more than that - 320 + 25% = 400, before the other fees
Soย lv90210 's buyers quote for ยฃ320k hammer Signed Girl With Balloon (ยฃ402,000 / $522,600)ย is wrong then? he wont let the truth get in the way of an inflated price. It will be more than that - 320 + 25% = 400, before the other fees |
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teabaggins
New Member
๐จ๏ธ 930
๐๐ป 1,559
November 2018
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by teabaggins on Sept 18, 2020 13:14:59 GMT 1, This is the problem here though. Some try to add in EVERY possible cost which feels a very hype beast approach. Shipping? Insurance? Why not add on cost of framing and home insurance while we are at it? My point is that itโs actually a very easy equation and you canโt paint Vat with such a braid brush. Taxes are an extremely subjective additional and can be / are reduced drastically depending on the buyers location and understanding of tax laws. To each their own of course. We can wind the final price up to outer space of thatโs the point of this discussion. no hype intended.ย if i want to buy a banana, i have to pay tax, same thing for a banksy.ย thats the price.ย the few times ive considered auctions ive backed away because all the extras become overwhelming( even though it was in retrospect the wrong decision).ย again, no hyping intended, but if i had a Girl With Balloon and needed to insure it, if i dont figure those costs in to my valuation, then i am not getting a Girl With Balloon if my house gets robbed.ย
To be clear. YOU are not the one that is hyping here at all . Cost of ownership and cost of winning an auction are just 2 different conversations. The difference of 10% additional tax on ยฃ100k + is significant enough that if it doesnโt apply to everyone it should not be factored in for everyone. Agreed? If the point is understanding what you pay the auction house when winning an auction than adding all of these other highly adjustable variables isnโt the most accurate representation.
This is the problem here though. Some try to add in EVERY possible cost which feels a very hype beast approach. Shipping? Insurance? Why not add on cost of framing and home insurance while we are at it? My point is that itโs actually a very easy equation and you canโt paint Vat with such a braid brush. Taxes are an extremely subjective additional and can be / are reduced drastically depending on the buyers location and understanding of tax laws. To each their own of course. We can wind the final price up to outer space of thatโs the point of this discussion. no hype intended.ย if i want to buy a banana, i have to pay tax, same thing for a banksy.ย thats the price.ย the few times ive considered auctions ive backed away because all the extras become overwhelming( even though it was in retrospect the wrong decision).ย again, no hyping intended, but if i had a Girl With Balloon and needed to insure it, if i dont figure those costs in to my valuation, then i am not getting a Girl With Balloon if my house gets robbed.ย To be clear. YOU are not the one that is hyping here at all . Cost of ownership and cost of winning an auction are just 2 different conversations. The difference of 10% additional tax on ยฃ100k + is significant enough that if it doesnโt apply to everyone it should not be factored in for everyone. Agreed? If the point is understanding what you pay the auction house when winning an auction than adding all of these other highly adjustable variables isnโt the most accurate representation. |
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by John The Badgers on Sept 18, 2020 13:19:06 GMT 1, This is the problem here though. Some try to add in EVERY possible cost which feels a very hype beast approach. Shipping? Insurance? Why not add on cost of framing and home insurance while we are at it? My point is that itโs actually a very easy equation and you canโt paint Vat with such a braid brush. Taxes are an extremely subjective additional and can be / are reduced drastically depending on the buyers location and understanding of tax laws. To each their own of course. We can wind the final price up to outer space of thatโs the point of this discussion. no hype intended. if i want to buy a banana, i have to pay tax, same thing for a banksy. thats the price. the few times ive considered auctions ive backed away because all the extras become overwhelming( even though it was in retrospect the wrong decision). again, no hyping intended, but if i had a Girl With Balloon and needed to insure it, if i dont figure those costs in to my valuation, then i am not getting a Girl With Balloon if my house gets robbed.
Good point on the insurance side of things Dexterbulldog.
I recently asked this question, and was told you really have to insure for the HP, plus all the fees as this in effect is what you would need to shell out for a replacement.
This is the problem here though. Some try to add in EVERY possible cost which feels a very hype beast approach. Shipping? Insurance? Why not add on cost of framing and home insurance while we are at it? My point is that itโs actually a very easy equation and you canโt paint Vat with such a braid brush. Taxes are an extremely subjective additional and can be / are reduced drastically depending on the buyers location and understanding of tax laws. To each their own of course. We can wind the final price up to outer space of thatโs the point of this discussion. no hype intended. if i want to buy a banana, i have to pay tax, same thing for a banksy. thats the price. the few times ive considered auctions ive backed away because all the extras become overwhelming( even though it was in retrospect the wrong decision). again, no hyping intended, but if i had a Girl With Balloon and needed to insure it, if i dont figure those costs in to my valuation, then i am not getting a Girl With Balloon if my house gets robbed. Good point on the insurance side of things Dexterbulldog. I recently asked this question, and was told you really have to insure for the HP, plus all the fees as this in effect is what you would need to shell out for a replacement. |
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theclash
New Member
๐จ๏ธ 581
๐๐ป 644
May 2020
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by theclash on Sept 18, 2020 13:20:47 GMT 1, How in the world can auction houses charge these fees. Assume some one has tried a transferwise/revolut disruption of this scam / oligopoly.
How in the world can auction houses charge these fees. Assume some one has tried a transferwise/revolut disruption of this scam / oligopoly.
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F*X
New Member
๐จ๏ธ 556
๐๐ป 400
February 2009
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by F*X on Sept 18, 2020 13:21:31 GMT 1, Girl With balloon now 473K all up
Girl With balloon now 473K all up
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Dexter Bulldog on Sept 18, 2020 13:24:16 GMT 1, no hype intended. if i want to buy a banana, i have to pay tax, same thing for a banksy. thats the price. the few times ive considered auctions ive backed away because all the extras become overwhelming( even though it was in retrospect the wrong decision). again, no hyping intended, but if i had a Girl With Balloon and needed to insure it, if i dont figure those costs in to my valuation, then i am not getting a Girl With Balloon if my house gets robbed. To be clear. YOU are not the one that is hyping here at all . Cost of ownership and cost of winning an auction are just 2 different conversations. The difference of 10% additional tax on ยฃ100k + is significant enough that if it doesnโt apply to everyone it should not be factored in for everyone. Agreed? If the point is understanding what you pay the auction house when winning an auction than adding all of these other highly adjustable variables isnโt the most accurate representation.
but sure, definitely different costs depending on where you reside. thats why i think that 35% is a fair "guide" , not gospel. i wouldnt have the vat fees but i would have use fees.. all sorta averages out unless you live in a few select spots.. anyway, more interesting things to discuss in the next bit...
no hype intended. if i want to buy a banana, i have to pay tax, same thing for a banksy. thats the price. the few times ive considered auctions ive backed away because all the extras become overwhelming( even though it was in retrospect the wrong decision). again, no hyping intended, but if i had a Girl With Balloon and needed to insure it, if i dont figure those costs in to my valuation, then i am not getting a Girl With Balloon if my house gets robbed. To be clear. YOU are not the one that is hyping here at all . Cost of ownership and cost of winning an auction are just 2 different conversations. The difference of 10% additional tax on ยฃ100k + is significant enough that if it doesnโt apply to everyone it should not be factored in for everyone. Agreed? If the point is understanding what you pay the auction house when winning an auction than adding all of these other highly adjustable variables isnโt the most accurate representation. gotcha, seemed like you were having a go a bit when you asked about framing and home insurance. i only mentioned insurance because say you spend a half million on a banksy and steve wynn sticks a sword through it in transit, it needs to be insured on its way to you and youre responsible for that fee. you wouldnt take your chances and say just send it over, it should be fine on such a large purchase. im pretty certain sothebys isnt paying your insurance while in transit. but sure, definitely different costs depending on where you reside. thats why i think that 35% is a fair "guide" , not gospel. i wouldnt have the vat fees but i would have use fees.. all sorta averages out unless you live in a few select spots.. anyway, more interesting things to discuss in the next bit... |
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woodman
New Member
๐จ๏ธ 236
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June 2017
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by woodman on Sept 18, 2020 13:25:24 GMT 1, well, in the us id have to pay almost 10% use tax... and shipping .. and insurance.. seems its a good ballpark This is the problem here though. Some try to add in EVERY possible cost which feels a very hype beast approach. Shipping? Insurance? Why not add on cost of framing and home insurance while we are at it? My point is that itโs actually a very easy equation and you canโt paint Vat with such a braid brush. Taxes are an extremely subjective additional and can be / are reduced drastically depending on the buyers location and understanding of tax laws. To each their own of course. We can wind the final price up to outer space of thatโs the point of this discussion.
Granted a seller will want to add the lot in and say "that's what the buyer paid", and you get the other end with the buyer (private sale), saying "ah but that isn't what the seller got". Privately a seller can ask what they want and a buyer will try and negotiate it down, and if they don't like it then it just won't sell.
well, in the us id have to pay almost 10% use tax... and shipping .. and insurance.. seems its a good ballpark This is the problem here though. Some try to add in EVERY possible cost which feels a very hype beast approach. Shipping? Insurance? Why not add on cost of framing and home insurance while we are at it? My point is that itโs actually a very easy equation and you canโt paint Vat with such a braid brush. Taxes are an extremely subjective additional and can be / are reduced drastically depending on the buyers location and understanding of tax laws. To each their own of course. We can wind the final price up to outer space of thatโs the point of this discussion. I don't think it is necessarily hype at all. What someone pays the auction house with the fees added is what they actually paid for that print (I don't think anyone is adding the likes of framing and insurance to final prices to hype them). Granted a seller will want to add the lot in and say "that's what the buyer paid", and you get the other end with the buyer (private sale), saying "ah but that isn't what the seller got". Privately a seller can ask what they want and a buyer will try and negotiate it down, and if they don't like it then it just won't sell. |
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Dexter Bulldog on Sept 18, 2020 13:27:25 GMT 1, Girl With balloon now 473K all up
Girl With balloon now 473K all up *with matte burn.. let that sink in when 6 months ago this board would have argued that lowers the print value by 25+% |
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coller
Junior Member
๐จ๏ธ 2,384
๐๐ป 2,371
April 2015
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by coller on Sept 18, 2020 13:31:04 GMT 1, i don't really get why people are always hung up on premiums and fees. the fees reflect the value of the service provided by the auction house, and have nothing to do with the value of the work being sold (aside from the percentage basis for the figure). an individual private seller will never get away with charging extra for those added fees/services because they're not an auction house; simple as that. they will also never see that money if they sell at auction. it's a bit of a pointless exercise.
i agree it helps for insurance purposes, because then you need to factor in the services required to replace the art, but it doesn't really have a place when discussing the price/value of a certain work itself.
i don't really get why people are always hung up on premiums and fees. the fees reflect the value of the service provided by the auction house, and have nothing to do with the value of the work being sold (aside from the percentage basis for the figure). an individual private seller will never get away with charging extra for those added fees/services because they're not an auction house; simple as that. they will also never see that money if they sell at auction. it's a bit of a pointless exercise.
i agree it helps for insurance purposes, because then you need to factor in the services required to replace the art, but it doesn't really have a place when discussing the price/value of a certain work itself.
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theclash
New Member
๐จ๏ธ 581
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May 2020
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by theclash on Sept 18, 2020 13:35:20 GMT 1, The same reason people looked the FX transfer fees charged by banks and western union based on historical technology and lack of transparency and said; Wait a minute this is a joke and blew up their business models. Tick - tock for the fees me thinks.
The same reason people looked the FX transfer fees charged by banks and western union based on historical technology and lack of transparency and said; Wait a minute this is a joke and blew up their business models. Tick - tock for the fees me thinks.
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by Viscount Jerkoff on Sept 18, 2020 13:35:44 GMT 1, Kicking myself for not picking up a flags 10 years ago when they were $1000 ๐ช
Flags were at ยฃ1000 5 1/2 years ago!
Kicking myself for not picking up a flags 10 years ago when they were $1000 ๐ช Flags were at ยฃ1000 5 1/2 years ago! |
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irl1
Full Member
๐จ๏ธ 9,274
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December 2017
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by irl1 on Sept 18, 2020 13:38:14 GMT 1, Kicking myself for not picking up a flags 10 years ago when they were $1000 ๐ช Flags were at ยฃ1000 5 1/2 years ago!
Silver Flag , 2006
As Banksy prices continue to soar, limited editions are becoming increasingly difficult to find.
Original screenprint on silver chromalux paper
76 ร 114 cm
Edition of 1000 - Numbered on the verso
Accompanied by Pest Control certification
ยฃ28,500
Kicking myself for not picking up a flags 10 years ago when they were $1000 ๐ช Flags were at ยฃ1000 5 1/2 years ago! Hidden Gallery today Silver Flag , 2006 As Banksy prices continue to soar, limited editions are becoming increasingly difficult to find. Original screenprint on silver chromalux paper 76 ร 114 cm Edition of 1000 - Numbered on the verso Accompanied by Pest Control certification ยฃ28,500 |
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mandelbrot
New Member
๐จ๏ธ 140
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December 2014
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Sotheby's Art Auctions โข LONDON ๐ฌ๐ง, by mandelbrot on Sept 18, 2020 13:39:05 GMT 1, Interesting to see if people still go for the sniping style bids, at the end of an auction when offloading tens or hundreds of thousands...
Interesting to see if people still go for the sniping style bids, at the end of an auction when offloading tens or hundreds of thousands...
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