Commission hikes at auction houses - Artworld - Brief Article

Art in America, May, 2002

On Apr. 1, Sotheby's raised its buyer's premium to 19.5 percent of the first $100,000 of the hammer price, and 10 percent of the price in excess of $100,000. Previously, the commission was 20 percent on the first $15,000 and 15 percent on sales between $15,000 and $100,000. According to Christie's spokesperson Andree Carroon, Christie's plans to adopt a similar rate hike early this month.

Phillips de Pury & Luxembourg is so far holding steady at 15 percent of the first $50,000 and 10 percent of anything above.