[Django]

Hi all , Can this be watched live? if so may I ask how?

Many thanks

[The Italian One]

banksquiat 0 bids..
ouch

so far only 3 lot without bids, banksy prints market still looks strong

[Lazarus II]

Aug 17, 2022 13:15:23 GMT 1 Nick said:

This text sits under the Stop And Search

"This lot was previously accompanied by a certificate of authenticity issued before 2020. In accordance with Pest Control Office regulations an updated certificate is due to be issued. Please note that the timing of Pest Control Office’s processes is outside of Sotheby’s control. "

First i've heard of this. Are old style COAS being replaced?

I think in recent times anything going to bigger auction houses with an original COA ends up with the new style COA. 

[aumi]

100k GBP (inc premium) for morons is a strong result.

www.sothebys.com/en/buy/auction/2022/banksy-2/morons-sepia?locale=en

[The Italian One]

Aug 17, 2022 14:42:29 GMT 1 aumi said:

100k GBP (inc premium) for morons is a strong result.

www.sothebys.com/en/buy/auction/2022/banksy-2/morons-sepia?locale=en

ufffff.... that was the best performing print in the auction.
always loved morons 

I thought  banksquiat would have reached  a higher price

[artlike]

Do we have a full list of results please word word words words words words

[Hubble Bubble]

Aug 17, 2022 15:04:42 GMT 1 artlike said:

Do we have a full list of results please word word words words words words

Easy to create one for us by going to
www.sothebys.com/en/buy/auction/2022/banksy-2?locale=en&lotFilter=AllLots
and transposing... or easier still, just view the results there.
HB


Edit... apologies... just realised you need to sign into a Sotheby's account to view... easy to create an account though.  And you never know when it might come in handy for a cheeky purchase 

[Gunny]

What was hammer on the Banksquait? I know overall it was 88000 but what was the hammer, anyone notice?

[samo]

Aug 17, 2022 15:26:39 GMT 1 Gunny said:

What was hammer on the Banksquait? I know overall it was 88000 but what was the hammer, anyone notice?

The hammer price was 70k GBP.

Words, Words, Words, Words, Words, Words,Words, Words, Words

[drbf]

Aug 17, 2022 14:49:19 GMT 1 The Italian One said:

Aug 17, 2022 14:42:29 GMT 1 aumi said:

100k GBP (inc premium) for morons is a strong result.

www.sothebys.com/en/buy/auction/2022/banksy-2/morons-sepia?locale=en

ufffff.... that was the best performing print in the auction.
always loved morons 
 

I thought  banksquiat would have reached  a higher price

Why was Morons so high ? I know the sepia print commands the highest price but $121K seams very high. They had a lot of bidders!

[drbf]

Aug 17, 2022 13:31:52 GMT 1 Lazarus II said:

Aug 17, 2022 13:15:23 GMT 1 Nick said:

This text sits under the Stop And Search

"This lot was previously accompanied by a certificate of authenticity issued before 2020. In accordance with Pest Control Office regulations an updated certificate is due to be issued. Please note that the timing of Pest Control Office’s processes is outside of Sotheby’s control. "

First i've heard of this. Are old style COAS being replaced?

I think in recent times anything going to bigger auction houses with an original COA ends up with the new style COA. 

What does the new COA look like and how does one obtain one ? Is it really necessary to replace them. Mine are all many years old, Thanks

[drbf]

Yes, just sign up with Sotheby's. You can follow current auctions as well as search past auction prices.

[JFCC]

Prices shown on the Sotheby’s site do not include VAT on the buyers premium (crazy as all countries have an input duty equivalent which in some cases is more) and as all of the prints came from the US so will have a further 5% added to them if the buyer is in the U.K. 

[Wanchope]

Was it me or did a lot of the condition reports seem to have a fair few issues on each print? To be fair the reports sounded quite comprehensive, but without being taken out the frame you never know the full condition and that’s on top of the issues stated….( not sure what point I’m making btw 🤣)

[apprint]

About 60% down form the max of last years,

We should thanks PC for help everyone with COA and keep real 

ThAnks PC thanks PC thanks PC

[Adam The Collector]

Aug 17, 2022 16:08:10 GMT 1 drbf said:

Aug 17, 2022 14:49:19 GMT 1 The Italian One said:

ufffff.... that was the best performing print in the auction.
always loved morons 
 

I thought  banksquiat would have reached  a higher price

Why was Morons so high ? I know the sepia print commands the highest price but $121K seams very high. They had a lot of bidders!

I have always pumped Sepia Morons here on the forums with posts like this but I believe it is just reaching the price it deserves. It was under rated for many years and since his auction stunt shredding the Balloon Girl collectors have viewed this image differently. That being said, I am surprised to see how strong it finished considering the prices of others. 

[bob60]

Can somebody please post the sold prices if possible. I remember someone always used to do it after an auction with prices including fees etc
Thanks

[jp]

I could have sworn there was an unsigned Girl With Balloon print in this auction. Did it get removed? I don't see it in the list of completed results.

[The Greased Piglet]

Aug 17, 2022 17:35:12 GMT 1 JFCC said:

Prices shown on the Sotheby’s site do not include VAT on the buyers premium (crazy as all countries have an input duty equivalent which in some cases is more) and as all of the prints came from the US so will have a further 5% added to them if the buyer is in the U.K. 

Hong Kong, Bermuda, Brunei, Greenland, Kuwait, Cameroon, Oman, Qatar, Virgin Islands, Gibraltar, Gurnsey, all zero import tax, plenty more as well and of course freeports all over the world.

Not all lots were subject to import VAT, the US collection made up just over half the sale. 

[silvermyn]

The £100k result for Morons Sepia is a real surprise. There was a much rarer version of Morons (signed LA edition) that sold for $53k only last month.

onlineonly.christies.com/s/trespassing/banksy-11/157559

You would have thought the results would have been the other way around :/

[bob60]

Do the sold prices on the website include buyers premium etc. It doesn't say on the site.

[samo]

Aug 18, 2022 18:44:37 GMT 1 bob60 said:

Do the sold prices on the website include buyers premium etc. It doesn't say on the site.

As JFCC commented: Prices shown on the Sotheby’s site do not include VAT on the buyers premium.
I also believe the results on the Sotheby’s site don't include the artist resale rights.

All the results for this auction can be found on:

www.banksy-value.com/realised.php

[Wanchope]

Yes they include the buyer’s premium, but not the VAT on the premium and ARR. why auction houses can’t just put the hammer price I don’t know, well actually I do it’s to make the prices seem greater than they are I am guessing. 

[artlike]

Aug 18, 2022 19:45:26 GMT 1 Wanchope said:

Yes they include the buyer’s premium, but not the VAT on the premium and ARR. why auction houses can’t just put the hammer price I don’t know, well actually I do it’s to make the prices seem greater than they are I am guessing. 

Oh I didn't realise the prices included buyers premium. Ouch, results not as "OK" as I thought. 

[drbf]

Aug 18, 2022 20:02:31 GMT 1 artlike said:

Aug 18, 2022 19:45:26 GMT 1 Wanchope said:

Yes they include the buyer’s premium, but not the VAT on the premium and ARR. why auction houses can’t just put the hammer price I don’t know, well actually I do it’s to make the prices seem greater than they are I am guessing. 

Oh I didn't realise the prices included buyers premium. Ouch, results not as "OK" as I thought. 

Are you required to pay VAT and ARR on any art purchased in the USA ? Words

[Wanchope]

I would imagine so, but i must say I don’t know the rules in the US. I imagine ARR for sure and surely a similar tax?? Hopefully someone else can chime in and enlighten us.

[The Greased Piglet]

Aug 18, 2022 22:30:54 GMT 1 drbf said:

Aug 18, 2022 20:02:31 GMT 1 artlike said:

Oh I didn't realise the prices included buyers premium. Ouch, results not as "OK" as I thought. 

Are you required to pay VAT and ARR on any art purchased in the USA ? Words

ARR is not charged in the US so no on that. States have different sales tax rates, some have none while others charge, so depends where you’re buying from. If you’re not a resident of the State you normally don’t pay sales tax but of course you may need to pay VAT or import duty depending on the rules in your tax jurisdiction, this is payable on import into the buyer’s country. 

US buyers buying in the UK will not have to pay VAT on the buyers premium but will have to pay ARR which is calculated on a sliding scale based on the value and ranges between 0.25-4.00% for works over £1,000. 

If you’re referring to the fact that some of the works in this auction were subject to an additional 5% VAT (the US collection), this is not a tax charged by the US, this is VAT charged on import by HMRC for UK buyers only. If the artwork goes anywhere else in the world once sold then this will not be charged but the buyer could be charged VAT by their tax authorities on import. 

[artlike]

Aug 18, 2022 22:30:54 GMT 1 drbf said:

Aug 18, 2022 20:02:31 GMT 1 artlike said:

Oh I didn't realise the prices included buyers premium. Ouch, results not as "OK" as I thought. 

Are you required to pay VAT and ARR on any art purchased in the USA ? Words

I think it varied by print

Words words that will not be words for words

[JFCC]

U.K. sale - ARR is charged and VAT on the buyers premium if the piece stays in the U.K. If it is exported no VAT is due but it will be subject to import duty in the country is exported to which typically will be higher.

US Sale - no ARR as this is a European scheme but if sales tax is charged it can only be reclaimed in certain states if it it to be exported. NY and CA most notably do not allow reclaiming of sales tax. If the item is imported in to the U.K. then import duty levied at 5% will be due. This rate is higher in most mainland European counties.

All of the prints in the auction came from a single US based collection.

[Hanging Around]

If anyone is after a signed Love is in the Air, then please let me know. UK based, Pest Control, unframed and stored flat.