{"id":40364,"date":"2020-08-28T15:59:41","date_gmt":"2020-08-28T19:59:41","guid":{"rendered":"https:\/\/rehs.com\/eng\/?p=40364"},"modified":"2020-08-28T15:59:41","modified_gmt":"2020-08-28T19:59:41","slug":"charging-more-give-me-a-break","status":"publish","type":"post","link":"https:\/\/rehs.com\/eng\/2020\/08\/charging-more-give-me-a-break\/","title":{"rendered":"Charging More — Give Me A Break!"},"content":{"rendered":"
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Not sure how I missed this one.\u00a0 In May, Sotheby\u2019s announced the following:<\/p>\n
As of August 1, 2020, Sotheby\u2019s will be implementing a new fee \u2013 an Overhead Premium \u2013 payable<\/em><\/p>\n
\u00a0by all auction buyers in our global salesrooms and online sales.<\/em><\/p>\n
The fee, which will be 1% of the hammer price plus any applicable local taxes, is an allocation of the overhead costs relating to our facilities, property handling and other administrative expenses, and reflects the increasing costs associated with delivering great service and experiences in a highly competitive marketplace.<\/em><\/p>\n
This fee and our Buyer\u2019s Premium rates exclude local taxes and any applicable artist\u2019s resale right.<\/em><\/p>\n
The Overhead Premium will be applicable to all live auctions that take place on or after August 1st<\/sup>\u00a0and any online auction that close after that date.<\/em><\/p>\n
SO \u2026<\/p>\n
Many of their salerooms are basically closed, they have laid off staff, they are not producing those expensive catalogs, sales are taking place online, all of which must be saving them millions of dollars.\u00a0 With their cost\u2019s way down, they now feel another 1% fee is appropriate \u2026 give me a break!<\/p>\n
In a highly competitive marketplace<\/em>, one would expect a business to lower their fees a little to get new clients.\u00a0 I have an idea \u2026 why not charge the sellers 1% more?\u00a0 Those are the people you are representing!\u00a0 Why do the auction rooms constantly reduce the seller\u2019s costs and make it up by charging the buyer more?<\/p>\n","protected":false},"excerpt":{"rendered":"
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