Seller’s Commissions & Payment
Upon successful sale, Tarisio charges a 20% seller’s commission of the hammer price up to and including 10,000 USD (or 8,000 GBP or 9,000 EUR), subject to a minimum of 100 USD (or 100 GBP or 100 EUR). We do not charge a seller’s commission on the portion of the sale proceeds that exceeds 10,000 USD (or 8,000 GBP or 9,000 EUR). There is a separate 1.5% taken on the hammer price for insurance coverage.
VAT Guidelines for London sales – Auctioneers’ Scheme
An amount equivalent to Value Added Tax (VAT) of 20% will be added to the amount of the seller’s premium on all Auctioneers’ Scheme items except for those which are exported from the UK after the sale.
VAT Guidelines for Berlin sales – Margin Scheme
An amount equivalent to Value Added Tax (VAT) of 19% will be added to the amount of the Seller’s Commission on all Margin Scheme items except for those which are exported from the EU after the sale.
Payment of Sale Proceeds
Within 7 days of the sale‘s completion, we will send you a sales report detailing the final hammer price of your consignment and ask you to select your preferred payment method: wire transfer or check (checks are issued in US Dollars for New York sales, Pounds Sterling for London sales and Euros for Berlin sales).
Sale proceeds are paid 30 days after the close of the auction, or 10 days after we receive payment from the buyer, whichever is the later. You will also receive a full statement showing commission, insurance and expenses where applicable.