Adabla Auctions > Buying > Buyer’s Premium

Buyer's Premium

A buyer’s premium is added to the hammer or winning price. The buyer’s premium of the hammer price is 10 % + VAT and  royalty resale right where applicable. If the hammer price is   higher than 30,000, the buyer’s premium becomes progressively less.

The following rates of Buyer's Premium will be added to  the Hammer price of each Lot that you purchase:

Buyer's Premium Rates
10% on the first £50,000 of the Hammer Price
8% from £51,000 to £100,000 the Hammer Price
5% from £101,000 to 200,000 of the Hammer Price

3% from £201,000 t0 500,000 of the hammer price

2% from £501,000 of the hammer price

The purchase price stated in the auction catalogue “Starting price” does not include the buyer`s premium and shipping. The sales price   in the Shop does not include the Buyer’s Premium, VAT and the  contribution to the Resale Royalty Right (if required).

Cancellation fee of purchase orders

Adabla charges a 25% fee for each cancelled bid and purchase orders.

buyers-premium

Cancellation fee of purchase orders

Adabla charges a cancellation 15% for each cancelled bid and purchase orders.

All payments

Before submitting an order, the buyer will be informed regarding  the total price including the Buyer’s Premium, VAT, the Contribution to the Resale Royalty Right (if required), the packaging, the shipping  and shipping Insurance Costs.

Invoice

If your bid is successful, you'll receive shortly, a confirmation email containing an invoice with:  The hammer price plus the buyer's premium as well as any applicable taxes, payment instructions, Location of your property, Shipping  information.
Payment is due within seven days after the auction.
Successful bidders in the live broadcast auction and timed auction  must log in to their account and can choose to pay via debit / credit card, PayPal or bank transfer.
Shipping
Property is shipped to the address you provided during your registration process within five days of receiving your payment.
The winning bidder will be responsible for handling and shipping  cost to his delivery address. Please make sure to check each  item's location before bidding
Remember: The winning bidder will be responsible for handling and shipping cost to his delivery address. Please make sure to check each item's location before bidding.

The artist’s resale right

The Artist’s Resale Right (ARR) entitles creators (‘authors’) of original works of art (including paintings, engravings, sculpture and ceramics) to a royalty each time one of their works is resold through an auction house or art market professional.

The right to this royalty lasts for the same period as copyright, so since January 2012 ARR has applied to qualifying works by artists who have been dead for less than 70 years.

Exemption

Some sales are exempt. For example, where the work being resold was bought directly from the artist less than three years previously and it is being resold for €10,000 or less. This is generally known as the ‘bought as stock exception’.

Calculation of royalties

ARR derives from a European Directive and came into force in the UK in 2006. The right only applies when the sale price reaches or exceeds the sterling equivalent of €1,000 and is calculated on a sliding scale.

Royalty Resale price
4% up to €50,000
3%  between €50,000.01 and €200,00
1% between €200,000.01 and €350,000
0.5% between €350,000.01 and €500,000
0.25% in excess of €500,000
Royalties are also capped so that the total amount of the royalty paid for any single sale of a work cannot exceed €12,500.

ARR is exempt of VAT.