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Post by Deleted on Jul 3, 2015 23:02:05 GMT
These are the Banksy results from their auction yesterday.... Note the prices below are the hammer price and does not include their commission, artist rights or VAT if applicable   |
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Post by alittle on Jul 4, 2015 3:05:44 GMT
Harveyn on UAA posted the results with BP:
Unsigned
Golf Sale £2480
Pulp Fiction £7192
Napalm £4960
LN £5580
Love Rat £7740
G. Rat £7740
LIITA £11160
Soup Can £5208
Grannies £4960
Signed
IFTL £7440
Grin Reaper £11780
Seems to be strong results, and apparently many of the prints were damaged.
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Post by blade on Jul 4, 2015 4:16:13 GMT
Pretty strong results for unsigned, £11k+ for a LIITA , possibly one of his best images.
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Post by jeezuzjonessnr on Jul 4, 2015 6:30:54 GMT
Pretty strong results for unsigned, £11k+ for a LIITA , possibly one of his best images. 11k!! Crazy!! |
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Post by cnh on Jul 4, 2015 16:36:35 GMT
Harveyn on UAA posted the results with BP: Unsigned Golf Sale £2480 Pulp Fiction £7192 Napalm £4960 LN £5580 Love Rat £7740 G. Rat £7740 LIITA £11160 Soup Can £5208 Grannies £4960 Signed IFTL £7440 Grin Reaper £11780 Seems to be strong results, and apparently many of the prints were damaged. Not disputing the figures quoted by harveyn but I think he may have just added the 24% buyers premium, shouldn't there also be a further 20% addred to the premium amount for vat? and 4% artist rights somewhere? (Not sure if that gets added to the total or the buyers premium. |
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Post by alittle on Jul 4, 2015 16:45:12 GMT
cnh, yes, that is just BP. Not sure it makes sense to discuss with VAT, as depending on the location of the buyer, they may or may not be paying VAT.
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Post by cnh on Jul 4, 2015 16:53:06 GMT
cnh, yes, that is just BP. Not sure it makes sense to discuss with VAT, as depending on the location of the buyer, they may or may not be paying VAT. I suppose so but I imagine shipping costs would then mount up if overseas. |
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Post by Deleted on Jul 4, 2015 17:06:01 GMT
LR for 7.8K, cripes
time to sell
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Post by lee3 on Jul 4, 2015 17:08:16 GMT
>>>Not disputing the figures quoted by harveyn but I think he may have just added the 24% buyers premium, shouldn't there also be a further 20% addred to the premium amount for vat? and 4% artist rights somewhere? (Not sure if that gets added to the total or the buyers premium.<<<
Auction houses have traditionally quoted prices "with premium" (hammer plus buyers premium) or simply "hammer price" which does not include the buyers premium. The norm is to quote with premium but that does not account for any other add ons such as ARR, shipping, any taxes relevant to the buyer or any other additional fees. There is no house that I'm aware of that will include those extra surcharges so the pair of terms are universal.
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Post by Deleted on Jul 4, 2015 18:01:26 GMT
>>>Not disputing the figures quoted by harveyn but I think he may have just added the 24% buyers premium, shouldn't there also be a further 20% addred to the premium amount for vat? and 4% artist rights somewhere? (Not sure if that gets added to the total or the buyers premium.<<< Auction houses have traditionally quoted prices "with premium" (hammer plus buyers premium) or simply "hammer price" which does not include the buyers premium. The norm is to quote with premium but that does not account for any other add ons such as ARR, shipping, any taxes relevant to the buyer or any other additional fees. There is no house that I'm aware of that will include those extra surcharges so the pair of terms are universal. Lee3 is correct (as always!!) HarveyN took his figures directly from the auction house. If you go to their site they have the results page which is the HarveyN figs mine I picked directly from the PDF page which just shows the hammer price. Auction houses do not include other figs as they are not reliable or chargeable on all sales or the same in every country. Eg two of the same pieces should have a diff fig if one is Sold in HKong as opposed to london due to the tax payable the tax element is not regarded as part of the works value/price. Similarly as I ive abroad I never pay the vat....shipping is a lot cheaper I assure you. This is why nvot quoted as they would have some with tax and some without. Also at time of sale they do not know. Eg I could be an international buyer but the tax is still relevant and applicable till I tell them I am shipping it. If I keep it in UK or collect myself even though leaving I still have to pay the tax. So they do not know this fig when publishing these figs Mind if you add a vat fee on top of these prices just as you would do in general from a UK gallery it really turns these into serious spends. Again only 2/3 weeks ago people saying prices were dropping etc but the auction results just not showing that at all prices seem to have a slower but steady rise. |
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Post by cnh on Jul 4, 2015 20:39:19 GMT
Sorry. I was just thinking out loud about the fees etc, so presuming a UK buyer for the LIITA it was over £12k?
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Post by dungle on Jul 5, 2015 18:16:45 GMT
Golf sale for less than 2.5k seems alright to me. The seller would have been better off selling privately.
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