Tarisio Buying fees
A short question to the community. I am thinking about bidding on a bow in the next London auction at Tarisio, maybe I will hop there to try it.
I am a bit unclear about all the fees that come in addition to the hammer price.
There is a 8.xx% sales tax mentioned. Does the seller or the buyer pay this? There is also the 20% VAT mentioned, so there is VAT and sales taxes applying at the same time?
Also the auction fees...
I lost ist somewhere. If I bid $1000 I additionally pay $200 VAT and $200 Buyers premium? What I am unclear of is how do the sales tax come into play and do they apply to the Buyers Premium, the hammer price or both added together?
I believe VAT applies only to the buyer's premium.
See here: https://tarisio.com/buyers-sellers/buyers/vat-guidelines-london-sale/
So 1000 under the hammer are 1240 for me.