ARTCESTRY
Market and auctions
Why the hammer price is not the whole bill at auction
Bonhams, Phillips and Sotheby's add a buyer's premium to the winning bid. Taxes can come on top as well, so the hammer price is not the full bill.
Photo: Honoré Daumier (French, 1808–1879), engraved by Charles Maurand (French, 1824–1904), printed by François Louis Schmied (Swiss, 1873–1941). Painting Enthusiasts at Auction House Bouillon, 1862, printed 1920. Wood engraving. The Cleveland Museum of Art, Gift of Ralph King, 1921.1481 (Creative Commons CC0 1.0)