Following in the wake of Christie’s premium increases last week, Sotheby’s auction house has announced that it will increase its buyer’s premiums to 25 percent for the first $100,000 spent; 20 percent for $100,000 to $1.9 million and 12 percent on all exceeding prices.  The increase makes Christie’s a less expensive shopping option, and comes days after the news that Sotheby’s sales incomes have declined since last year.
Read more at The New York Times
