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Jul 28th, 2025
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Joined: Jul 2010
Posts: 1,284
Sidelock
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Sidelock
Joined: Jul 2010
Posts: 1,284 |
OK, just to get this right.  VAT in the UK is 20%. Not 22.5%. Commission that Holt's whack on is 22.5%. In the USA you don't pay the VAT. T
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Joined: Jul 2008
Posts: 1,008
Sidelock
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Sidelock
Joined: Jul 2008
Posts: 1,008 |
On items purchased at auction in the UK and exported (to the US for example) there is no VAT due on the item.
HOWEVER there is VAT on the Buyers Premium and THAT VAT is NOT refundable even if the purchased item is exported.
I have bought lots of stuff at UK auctions over the past decades and this is the system in use. I don't know why one VAT should be different from the other, but that is the way it goes.
Last edited by Gnomon; 12/20/11 04:24 PM.
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Joined: Dec 2001
Posts: 3,733 Likes: 211
Sidelock
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Sidelock
Joined: Dec 2001
Posts: 3,733 Likes: 211 |
Holt's is famous for running up prices. I've caught them doing it.
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Joined: Jul 2010
Posts: 707
Sidelock
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Sidelock
Joined: Jul 2010
Posts: 707 |
My original posts are correct.
Vat must be paid by all on the Hammer premium fee.
By law, you may demand a vat refund once the goods land in the USA and you can prove it. Naturally, the cost to accept a wire transfer is greater than the vat refund amount in most cases. Lost money.
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Joined: Jul 2010
Posts: 1,284
Sidelock
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Sidelock
Joined: Jul 2010
Posts: 1,284 |
I'll shutup and be happy with what I have to pay them and make my judgements on that basis.
Bottom line is go in with eyes open. I personally believe that a threshold will be met and people will stop buying at such crazy inflated prices. Especially for dealers the margin isn't there anymore...especially if you add VAT in some cases.
Bonhams have just put up their commission to 25% I heard, absolutely disgusting in my view.
T
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Sidelock
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Sidelock
Joined: Jul 2005
Posts: 7,065 Likes: 1 |
In reference to the VAT discussion this is from a Christie's auction in 2001: Special Notice
No VAT will be charged on the hammer price, but VAT at 17.5% will be added to the buyer's premium which is invoiced on a VAT inclusive basis.
Sporting Guns. Unless otherwise stated, this gun is a double-barrelled hammerless shotgun. Every gun (blue label), with specific exceptions (yellow label), requires a Shot Gun Certificate. http://www.christies.com/LotFinder/lot_details.aspx?intObjectID=2103139
Last edited by AmarilloMike; 12/20/11 07:18 PM.
I am glad to be here.
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Joined: Aug 2011
Posts: 704 Likes: 1
Sidelock
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Sidelock
Joined: Aug 2011
Posts: 704 Likes: 1 |
In regard to the commissions being charged..........I do notice that more and more Lots from Holt's are going unsold at their auctions including their most recent in December.
I've never bought a gun from Holt's but I have bought a cartridge case. I don't remember the particulars but I do remember being satisfied with the deal, including the shipping to the USA.
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Joined: Mar 2011
Posts: 390 Likes: 5
Sidelock
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OP
Sidelock
Joined: Mar 2011
Posts: 390 Likes: 5 |
In regard to the commissions being charged..........I do notice that more and more Lots from Holt's are going unsold at their auctions including their most recent in December.
I've never bought a gun from Holt's but I have bought a cartridge case. I don't remember the particulars but I do remember being satisfied with the deal, including the shipping to the USA. Did Holt's directly ship the case to you, or did you have to arrange shipping from a third party?
“I left long before daylight, alone but not lonely.”~Gordon Macquarrie
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Joined: Aug 2011
Posts: 704 Likes: 1
Sidelock
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Sidelock
Joined: Aug 2011
Posts: 704 Likes: 1 |
Holt's shipped the cartridge case directly to me.
Last edited by 1cdog; 12/20/11 08:45 PM.
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Posts: 1,008
Sidelock
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Sidelock
Joined: Jul 2008
Posts: 1,008 |
Just to clarify some auction terms:
Hammer price is the final bid on which the auctioneer brings down the hammer. It does NOT include the buyer premium.
The Buyer Premium is a commission that the house charges the buyer. VAT is collected on this regardless of where the item is shipped and this VAT is NOT refundable.
The house also charges the seller a premium but that is another issue. The house will also charge the seller for illustrations, insurance, storage, cataloguing and anything else it can think of.
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