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I have just looked at the Bonhams auction catalogue and the buyers premium is 25% up to £50,000 of the hammer price plus VAT. So you will have to put 30% on the price you win it at. How can they possibly justify such a commission? Most auctions these days run at 15% to 18% plus VAT. They also of course charge the seller a commission which is understandable because they have to store the item, photograph it and generate a catalogue to put the item in. However from experience I know most auction houses charge for the photo and insurance on top of the sellers commission. But what exactly do they do for the buyer?? How did it go from generally about 5% to todays outrages cons. Are we just becoming soft in the head!
