Sotheby’s Raises Its Rates for Buyers – when will enough be enough? When they charge 100%! The new rate structure will be 25% on the first $200,000 of hammer (sale) price; 20% on the portion of hammer (sale) price above $200,000 up to and including $3 million; and 12% on any remaining amount above $3 million. The current buyers premium rate structure, which has been in effect since March 15, 2013, is 25% on the first $100,000 of hammer (sale) price; 20% on the portion of hammer (sale) price above $100,000 up to and including $2 million; and 12% on any remaining amount above $2 million.
It is crazy that the buyer pays far more than the seller since the seller is really getting most of the benefits.