MADAM – In case there is any doubt about the need for more clarity in auctioneer fees, the following figures illustrate the confusing situation faced by the seller.
I recently sold a clock at an established provincial auctioneer. On enquiring at their office, I was told that the seller’s fee was 15% plus VAT. No further information was volunteered.
The clock sold for a hammer price of £1400, on which the buyer paid a premium of 21% plus VAT, giving a total purchase price of £1752.80.