Sotheby’s to Change Buyer’s Premium Before November Sales

Sotheby’s just announced a new fee structure raising the bottom bracket of 25% from $200k to $250k. The top rate for works above $3m gets a half percent bump too.

The changes go into effect on November 13th, just before the New York sales cycle commences. The new fees only effect 5-10% of the lots, Sotheby’s says.

Click through to see the entire fee structure.