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• Archive Newsletters
• Issue #149
• Article

I will be previewing the New York City auctions next Friday through Monday (October 10-13) and attending the auctions themselves the rest of the week. If you wish me to preview any work for you, please call my associate at 1-215-822-5662 or email us at info@vintageworks.net , or just call my mobile while I am in New York at 1-215-518-6962 (do not use my mobile for other calls, because I only use it while traveling).

My normal terms are 5% of the hammer price, which excludes the Buyer's premium. Please remember though when bidding that the Buyer's premium has been raised by Sotheby's and Christie's to 25% (from the previous 20%) on the first $25,000 and then 20% up to $1,000,000 (from the previous $500,000).

My services include a condition report, consultation on pricing and evaluation of the item and, when necessary, bidding on it for you.

You need to notify the auction house that I, through my company Vintage Works, Ltd. will be bidding for you, usually by fax.

You should also note that Sotheby's, Christie's and Phillips have all increased their buyer's premiums, which are added to your bid (or hammer) price. It is now 25% on the first $50,000 and then 20% on the next $1 million. The 12% rate now only kicks in above that mark. It had previously been 12% above the $500,000 mark for these houses. Swann only charges a 20% premium. Bloomsbury's new auction in New York City only charges 20% on the first $300,000 and then 10% thereafter.