Issue #82  12/10/2004
Christie's Hikes Rates Again

Christie's International has announced a new buyer's premium for the majority of the firm's salerooms. Effective January 1, Christie's current 19-1/2% buyer's premium rate on the first $100,000 will be increased by a ½% to 20% at almost all Christie's sites (exceptions are Australia and Italy, where there will be no change). Christie's buyer's premium of 12% on amounts exceeding $100,000 will remain unchanged.

At Christie's Paris the rates will increase from 17-1/2% to 20% up to the threshold of $100,000 and from 10% to 12% above the threshold of $100,000.

In Australia, the premium will remain at 19-½% on the first AUD$200,000 and 12% on the amount exceeding AUD$200,000.

All premiums quoted exclude local sales tax.

In Italy, the buyer's premium will be 24% on the first $100,000 and remains 18-1/2% on any amount over $100,000. This premium is inclusive of all local sale taxes.

There will be no changes to premium thresholds at any of Christie's sale sites, and the wine and car department premium rates will remain unchanged at all sites.