{"id":27265,"date":"2017-08-30T08:48:46","date_gmt":"2017-08-30T12:48:46","guid":{"rendered":"https:\/\/rehs.com\/blog\/?p=27265"},"modified":"2019-02-28T21:37:52","modified_gmt":"2019-03-01T02:37:52","slug":"that-did-not-take-very-long","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2017\/08\/that-did-not-take-very-long\/","title":{"rendered":"That Did Not Take Very Long!"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div style=\"width: 198px\" class=\"wp-caption alignleft\"><a href=\"http:\/\/www.artnews.com\/2017\/08\/29\/christies-ups-buyers-premiums-for-live-auctions\/\"><img decoding=\"async\" src=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2017\/08\/christies-london-king-street-saleroom.jpg\" alt=\"christies-london-king-street-saleroom\" width=\"188\" height=\"188\" \/><\/a><p class=\"wp-caption-text\">Christie&#8217;s<\/p><\/div>\n<p>I knew it would take very long for the other &#8216;major&#8217; auction house to up its buyer&#8217;s premium.\u00a0 Nate Freeman states in his ArtNews article that Christie&#8217;s\u00a0 <em>is widening the brackets for prices charged the highest fees and increasing the percentage tagged on its most expensive items. The new fee structure, which takes effect September 11&#8230;<\/em><\/p>\n<p>Alex Capon, a writer for the Antiques Trade Gazette, really laid it out:<\/p>\n<p><em>When a lot is knocked down at \u00a31m at an auction, the buyer will now pay \u00a3208,750 in fees to Christie\u2019s. This compares to \u00a3209,000 at Sotheby\u2019s.<\/em><\/p>\n<p><em>The greater difference comes when a lot sells at \u00a35m \u2013 a buyer will now pay \u00a3858,750 to Christie\u2019s, compared to \u00a3796,000 at Sotheby\u2019s \u2013 something mainly due to the Christie\u2019s 20% range now applying up to \u00a33m, while Sotheby\u2019s 20% range goes up to \u2018only\u2019 \u00a32m.<\/em><\/p>\n<p>I still want to know why the buyer is being charged so much for &#8230; the pleasure of buying? Shouldn&#8217;t the seller be the one who is charged more money for the supposed services an auction room is providing them? \u00a0Just does not seem very fair that when the auction rooms see their profits dwindle, they hike up buyer&#8217;s premium in hopes that it will help the bottom line. Maybe they need to cut back on expenses?<\/p>\n<p>Now watch, all the smaller auction rooms &#8212; who do very little for the buyer &#8212; will start upping their premiums.<\/p>\n<p>Source: <em><a href=\"http:\/\/www.artnews.com\/2017\/08\/29\/christies-ups-buyers-premiums-for-live-auctions\/\">Christie&#8217;s Ups Buyer&#8217;s Premiums | ARTnews<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; I knew it would take very long for the other &#8216;major&#8217; auction house to up its buyer&#8217;s premium.\u00a0 Nate Freeman states in his ArtNews article that Christie&#8217;s\u00a0 is widening the brackets for prices charged the highest fees and increasing &hellip; <a href=\"https:\/\/rehs.com\/eng\/2017\/08\/that-did-not-take-very-long\/?contemporary=N\">More&#8230;<\/a><\/p>\n","protected":false},"author":21,"featured_media":27266,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[207,11,9],"class_list":["post-27265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rehs-galleries","category-rehs-contemporary","tag-auction-news","tag-rehs-contemporary-news","tag-rehs-galleries-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>That Did Not Take Very Long! - Rehs Galleries<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rehs.com\/eng\/2017\/08\/that-did-not-take-very-long\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"That Did Not Take Very Long!\" \/>\n<meta property=\"og:description\" content=\"&nbsp; I knew it would take very long for the other &#8216;major&#8217; auction house to up its buyer&#8217;s premium.\u00a0 Nate Freeman states in his ArtNews article that Christie&#8217;s\u00a0 is widening the brackets for prices charged the highest fees and increasing &hellip; More...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/rehs.com\/eng\/2017\/08\/that-did-not-take-very-long\/\" \/>\n<meta property=\"og:site_name\" content=\"Rehs Galleries\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/RehsGalleriesInc\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/howard.rehs\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-30T12:48:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-01T02:37:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rehs.com\/eng\/wp-content\/uploads\/2017\/08\/christies-london-king-street-saleroom.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"275\" \/>\n\t<meta property=\"og:image:height\" content=\"275\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Howard L. 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