MADAM – It will be interesting to see how the big four UK auctioneers react to the Advertising Standards Authority’s ruling and change the way they display their fees now that March has arrived (ATG No 2280).
One lesser known auction house, Tayler & Fletcher, which operates from Bourton-on-the Water, has adopted a belt-and-braces approach to the way it displays its fee structure.
In its online and printed catalogues, every estimate for its 600-lot sale on Thursday, February 23, had buyer’s premium (18% in ‘old money’) and VAT clearly displayed as follows: £200–300 + 21.6% buyer’s premium (incl. VAT).