11-05-2019, 04:34 PM
The auctioneer started the bidding with a commission bid of £6000, quickly followed by other interested bidders up to about £8000 when two bidders in the room eventually took it to £9500. Add on the dreaded buyer's premium of 18%, plus VAT on the premium (i.e. a total add-on of 21.6%) means that the buyer paid £11552.