Summary of Charges relevant for CooperOwen Live Auctions (Possession of items) only.
|Buyers Commission (Premium)||17.5% plus VAT (see note below)|
|Sellers Commission (For special Items we may offer reduced rates)||17.5% plus VAT (see note below)|
|Sellers Insurance Cover||1.5% plus VAT (see note below)|
|Withdrawal Fees||20% of the Reserve or, if no reserve, the lower Estimate plus VAT (see note below) Prior to catalogue.|
|Unsold Charge||£8.50 plus VAT (see note below)|
|Storage Fees||All unsold or uncollected items in our possession will be liable to a Storage Charge of £2.00 plus VAT (see note below) per lot per day. The charge will be levied fourteen (14) days after notification|
|Delivery Charges||Any delivery / Transport charges incurred will be levied at cost|
|Repairs and Renovation||Any Repairs or Renovation charges instructed to be carried out will be levied at cost|
VAT Note: The current standard rate of UK VAT is 20%. VAT is payable in most instances shown above, however, in certain circumstances VAT may not be payable or may be refunded to you. Examples of these circumstances are as follows: Seller is based outside of the EC – no VAT payable by seller on commissions. Buyer based outside of the EC (and proof of export from EC provided) – VAT may be refunded to buyer. In some instances buyers must pay VAT on the total bid price (plus premium) or import VAT (currently 5%) on the total bid price (plus premium) this being indicated by symbols against the lot descriptions.
IMPORTANT NOTICE: Please note all future sales will be subject to 17.5% sellers and buyers commission (plus UK VAT).
The symbols used are as follows:
† – UK VAT at 20% due on both sale price and commission.
* – UK Import tax at 5% due on both sale price and commission.
‡ – Lot held outside the EC. VAT payable on premium only, but is not refundable; import taxes may apply.