[John The Badgers]

I was just after some basic auction advice if anyone can help?

I was looking at a couple of items on the 'This is Tomorrow: Works from the David Ross Collection' via Sotheby's today -

www.sothebys.com/en/buy/auction/2021/this-is-tomorrow-works-from-the-david-ross-collection

It was an on-line only auction.

My understanding is that the bidding went up in increments of £200.

I cant for the life of me fathom why it says 'Lot Sold : £4032' this for the Hirst Dumpling print as an example.

I thought this would be in increments of £200, or are they displaying the hammer price, plus all the fees?

Really appreciate any clarification, this was my first participation in an auction today, and just trying to understand everything that's involved.

[Make Paint Work]

Correct - it’s plus fees and VAT and whatever else they can think of to add to make it look as though it sold for a stack more.

[John The Badgers]

Thanks makepaintwork, thought as much.

Did my research on the fee's involved, so was aware of what was added to the hammer price at the end, but wasn't sure if this was the figure displayed now. 

Bit deceiving as I was following the Hirst lots, and as they finished, this higher figure pops up, and wasn't sure.

Appreciate your input.

[Tropical/Ronnie]

i believe the Lot sold amount on Sothebys is the hammer price plus the buyers premium.
So not including Artist resale rights, vat etc

Was also looking yesterday and was thinking the same

[urbanauctioneer]

I work for a big auction house, the prices shown include all the fees and VAT on top of those charges, Buyers premium can amount to quite a lot, there is also likely an additional percentage for Artists Resale Rights.

[robo]

Usually it's hammer + buyers fees + ARR but NOT VAT or anything else. If you divide by 1.25 to take off 25% you usually get to a sensible looking hammer price (as that's a common buyers premium).

[apprint]

you need to add 40% on top of the hammer