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Digital Subscriptions > Antiques Trade Gazette > 2273 > Auctioneers ‘should be clearer on fees’

Auctioneers ‘should be clearer on fees’

Advertising Standards Authority says premium should be stated alongside estimates

THE Advertising Standards Authority has said auctioneers need to be clearer when presenting their commission rates.

The new guidance, issued on December 21 following an investigation that began in August, stipulates that estimates and guide prices should now include details of the fees that a buyer can expect to pay.

The document, issued by the Committee of Advertising Practice (CAP), gives examples of how fees, including VAT, buyer’s premium and other taxes, should be displayed when an estimate is published (see box, below).

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About Antiques Trade Gazette

Antiques Trade Gazette is the essential publication for everyone with a serious interest in art, antiques and collectables. Every week it is packed with up-to-the-minute news on the market, with individual items beautifully illustrated throughout. Since 1971 it has been the most reliable source of information on what is really happening at auctions in the UK and around the world. Each issue is filled with auction advertisements and detailed auction reports written by expert journalists. The Dealer’s Diary section keeps readers constantly updated on what is happening at the fairs and markets and in the galleries and shops. Market professionals and serious collectors throughout the world rely on ATG to keep them informed on developments and issues which shape the art market. It is here that they learn about the prices achieved at auction in every area - from antiquities to pop memorabilia, from impressionist paintings to Chinese art. With 500 or more art objects pictured, every issue is a treat to the eye and a visual education. Whatever the topic Antiques Trade Gazette is well-informed, up-to-date and entertaining.
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