[njr911]

Can people stop putting stuff to Forum...it never ends well

[compound]

What were the results?

[njr911]

meh...let's just assume they were fine

[bob60]

What were the results?

[JFCC]

The Forum Banksy Only sale happened to day. My personal view is the appetite has gone for their "Only" sales as they had not had the greatest catalogues during 2021. That said todays sale was short, 13 lots and the items were were good, that said I forgot to watch let alone bid.

Results saw all items, no car crashes and most were positive save for the 25 editions of CYW which are now definitely showing signs of fatigue and pricing is downward. 

Also, just my own personal view but gifts or personalised are not as desirable as the normal versions and so the two "gifts" (LIITA and HC signed), which were allegedly, originally given to a Guardian journalist did not reach the prices most people would have expected. 

So the all up prices including premium, vat on the premium and ARR, ie what the buyer would pay are as follows:

HC Unsigned - £40.5k
HMV Unsigned - £29.5k
CND signed - £54k
LIITA signed gift - £201k
Donuts chocolate - £86k
J&J signed £67.5k
QV Unsigned - £24.3k
CYW olive - £132k
Nola grey - £117k
HC signed gift - £91.9k
NBG Green - £86.6k
CYW Khaki - £108.5k



 

[sincebyman]

Anyone looking for a green NBG? Potentially looking to sell. Direct message to discuss. Thanks

[Skinback]

It doesn’t seem that long ago when everyone was frothing at the mouth with ever increasing prices, now there’s hardly a mention. Hopefully one of the proper auction houses will put that straight in spring.

[andypandy]

There has been more Banksy prints at auction in the past year than in the previous 10

At some point the houses need to realise that the demand needs to outweigh supply or its effectively going to continue on a sideways trajectory for the foreseeable

I love Banksy but I am getting bored of all these auctions it’s overkill

[Icesay]

Feb 3, 2022 19:29:41 GMT 1 andypandy said:

There has been more Banksy prints at auction in the past year than in the previous 10

At some point the houses need to realise that the demand needs to outweigh supply or its effectively going to continue on a sideways trajectory for the foreseeable

I love Banksy but I am getting bored of all these auctions it’s overkill

Get out while you can!

[Spenie]

Keeeeerrrrrrrrrrrrrboooooooooooommmm !!, got to miss LV

[My Name is Frank]

So these are bad results? I would take £86K for my chocolate donuts all day long, wow

[Skinback]

Feb 4, 2022 10:25:11 GMT 1 My Name is Frank said:

So these are bad results? I would take £86K for my chocolate donuts all day long, wow

The seller got nowhere near £86k

[E9Boy]

Were the signed gifts accompanied by PC certs..?
Thanks

[JFCC]

Feb 4, 2022 11:11:23 GMT 1 Skinback said:

Feb 4, 2022 10:25:11 GMT 1 My Name is Frank said:

So these are bad results? I would take £86K for my chocolate donuts all day long, wow

The seller got nowhere near £86k

The seller will have got £64k possibly a little more depending on what else they were selling and if they had been a good customer of Forum.


In a private sale somewhere around £75k would be in order.

[JFCC]

Feb 4, 2022 11:20:36 GMT 1 E9Boy said:

Were the signed gifts accompanied by PC certs..?
Thanks

Yes all of the items had a COA or pending but authenticated by PC. Forum as with the other big auction houses are very good at making sure this happens.

[Deleted]

Up we go

[sandinista]

no one has pest control certs in order to sell. They are very limited edition.

[bob60]

Feb 4, 2022 19:08:28 GMT 1 sandinista said:

no one has pest control certs in order to sell. They are very limited edition.

I don't understand what you are saying.

[Wanchope]

Feb 4, 2022 13:16:43 GMT 1 JFCC said:

Feb 4, 2022 11:11:23 GMT 1 Skinback said:

The seller got nowhere near £86k

The seller will have got £64k possibly a little more depending on what else they were selling and if they had been a good customer of Forum.


In a private sale somewhere around £75k would be in order.

hi there, if the buyer paid 86k then isn’t 25% plus vat so 30% taken off gives the hammer price but then the seller would pay 10-15% fees plus vat. So wouldn’t the seller be getting more like 50k? Just trying to understand what auctioneers charge etc ? Cheers

[Dice]

Feb 5, 2022 8:51:27 GMT 1 Wanchope said:

Feb 4, 2022 13:16:43 GMT 1 JFCC said:

The seller will have got £64k possibly a little more depending on what else they were selling and if they had been a good customer of Forum.


In a private sale somewhere around £75k would be in order.

hi there, if the buyer paid 86k then isn’t 25% plus vat so 30% taken off gives the hammer price but then the seller would pay 10-15% fees plus vat. So wouldn’t the seller be getting more like 50k? Just trying to understand what auctioneers charge etc ? Cheers

Divide 86k by 1.5 for an approximate return to the seller

[Wanchope]

Ok cool, what % would most auction houses charge a seller for selling a BANKSY?

[jp]

Feb 5, 2022 8:58:45 GMT 1 Wanchope said:

Ok cool, what % would most auction houses charge a seller for selling a BANKSY?

Between 5-10% for prints. If you have something very rare, you can probably go lower.

[Wanchope]

Feb 5, 2022 10:27:06 GMT 1 jp said:

Feb 5, 2022 8:58:45 GMT 1 Wanchope said:

Ok cool, what % would most auction houses charge a seller for selling a BANKSY?

Between 5-10%

good to know for the future as I thought they would charge me 15%. Cheers for the info and have a good weekend

[JFCC]

Sorry to be a pedant but neither of the above is right.

Here is a simple guide to calculate 'All Up" to Hammer prices I use HP as an expected return to the seller +/- 3% but would expect many to sell without a sellers premium.

Buyers Premium is 25% of the Hammer Price up to £300k plus VAT and 20% of the Hammer Price from £300k to £3.0m plus VAT.

Therefore up to £300k the premium is 30%. If you are overseas you will not pay VAT but you almost always will pay an import duty which is sometimes higher than our rate of VAT.

Some auction houses charge an extra 1% administration fee as well.

ARR is then charged and it is is capped at £12.5k. It is calculated in Euros and then converted to £. It is t 4% of the Hammer Price up to €50k, 3% from €50k to €200k, 1% €200k to €350k and 0.5% from €350k to €500k, 0.25% above €500k.

All the above is brings the “All Up” back to the Hammer Price. I use an average of 34% as it is close enough.

The seller then will receive that amount in full, the hammer price, unless there is Sellers premium.

With the big 4 Auction houses this can be as high as 8% but normally it will be a less and depending on a number of factors it will be nil. It is not unheard of to get a reverse premium for special pieces and customers. The rate you pay will depend on your tenacity and what you have to sell.

So as to confirm that here are the exact words from Forums T&Cs.

“We will charge you a Commission on the sale of any Lot calculated as a percentage of the Hammer Price at the rates set out in the Consignment Agreement (which, for the avoidance of doubt, may be zero).”

So my advice to get a fair view of what a buyer will get is to look at hammer price. The seller of NBG will have got close to £64k in my view.

Sorry if this has bored everyone to sleep!!

[Pattycakes]

Feb 5, 2022 10:54:10 GMT 1 JFCC said:

Sorry to be a pedant but neither of the above is right.

Here is a simple guide to calculate 'All Up" to Hammer prices I use HP as an expected return to the seller +/- 3% but would expect many to sell without a sellers premium.

Buyers Premium is 25% of the Hammer Price up to £300k plus VAT and 20% of the Hammer Price from £300k to £3.0m plus VAT.

Therefore up to £300k the premium is 30%. If you are overseas you will not pay VAT but you almost always will pay an import duty which is sometimes higher than our rate of VAT.

Some auction houses charge an extra 1% administration fee as well.

ARR is then charged and it is is capped at £12.5k. It is calculated in Euros and then converted to £. It is t 4% of the Hammer Price up to €50k, 3% from €50k to €200k, 1% €200k to €350k and 0.5% from €350k to €500k, 0.25% above €500k.

All the above is brings the “All Up” back to the Hammer Price. I use an average of 34% as it is close enough.

The seller then will receive that amount in full, the hammer price, unless there is Sellers premium.

With the big 4 Auction houses this can be as high as 8% but normally it will be a less and depending on a number of factors it will be nil. It is not unheard of to get a reverse premium for special pieces and customers. The rate you pay will depend on your tenacity and what you have to sell.

So as to confirm that here are the exact words from Forums T&Cs.

“We will charge you a Commission on the sale of any Lot calculated as a percentage of the Hammer Price at the rates set out in the Consignment Agreement (which, for the avoidance of doubt, may be zero).”

So my advice to get a fair view of what a buyer will get is to look at hammer price. The seller of NBG will have got close to £74k in my view.

Sorry if this has bored everyone to sleep!!

I think you mean close to £64K, the Hammer price on the NBG was £64 

[JFCC]

Feb 5, 2022 11:15:53 GMT 1 Pattycakes said:

Feb 5, 2022 10:54:10 GMT 1 JFCC said:

Sorry to be a pedant but neither of the above is right.

Here is a simple guide to calculate 'All Up" to Hammer prices I use HP as an expected return to the seller +/- 3% but would expect many to sell without a sellers premium.

Buyers Premium is 25% of the Hammer Price up to £300k plus VAT and 20% of the Hammer Price from £300k to £3.0m plus VAT.

Therefore up to £300k the premium is 30%. If you are overseas you will not pay VAT but you almost always will pay an import duty which is sometimes higher than our rate of VAT.

Some auction houses charge an extra 1% administration fee as well.

ARR is then charged and it is is capped at £12.5k. It is calculated in Euros and then converted to £. It is t 4% of the Hammer Price up to €50k, 3% from €50k to €200k, 1% €200k to €350k and 0.5% from €350k to €500k, 0.25% above €500k.

All the above is brings the “All Up” back to the Hammer Price. I use an average of 34% as it is close enough.

The seller then will receive that amount in full, the hammer price, unless there is Sellers premium.

With the big 4 Auction houses this can be as high as 8% but normally it will be a less and depending on a number of factors it will be nil. It is not unheard of to get a reverse premium for special pieces and customers. The rate you pay will depend on your tenacity and what you have to sell.

So as to confirm that here are the exact words from Forums T&Cs.

“We will charge you a Commission on the sale of any Lot calculated as a percentage of the Hammer Price at the rates set out in the Consignment Agreement (which, for the avoidance of doubt, may be zero).”

So my advice to get a fair view of what a buyer will get is to look at hammer price. The seller of NBG will have got close to £74k in my view.

Sorry if this has bored everyone to sleep!!

I think you mean close to £64K, the Hammer price on the NBG was £64 

wow someone read it..and you're correct, I agree and have changed it 😂🤦‍♂️

['bric]

I very quickly got to a sellers premium of 0% with forum a while back. No other fees.