Christie’s Raises Commission Rates

February 20th, 2013

An auction at Christie's, via The TelegraphChristie’s announced this week that it will be increasing its buyer’s premium for the first time since 2008.  The increase changes the percentages and value cutoffs for each premium amount to 25% for the first $75,000, 20% on any sale between $75,001 and $1.5 million, and 12% for any sale over that amount.  There has been no response in price increases from the other auction houses, but a spokesman for Sotheby’s was quoted as saying the company was: “studying the matter and haven’t taken any decisions.”

Read more at The New York Times