Christie’s announced a new buyer’s premium today that will go into effect in two weeks time:

For all collecting categories except wine, the new buyer’s premium rate will be an amount equal to 25% of the hammer price of each lot up to and including £175,000/US$250,000; plus 20% of the hammer price from £175,001/US$250,001 up to and including £3,000,000/US$4,000,000 and 12.5% above £3,000,001/US$4,000,001.

These changes will take effect for all auctions occurring on and after 11 September 2017.