Sotheby’s, Christie’s Raise Premiums
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Sotheby’s and Christie’s are raising the premiums they charge to buyers, the auction houses said in e-mail statements.
As of Sunday, buyers at Sotheby’s auctions will have to pay 25% on the first $50,000, 20% up to $1 million and 12% thereafter.
The previous 20% and 25% thresholds were $20,000 and $500,000.
Christie’s will apply the same premium rates to buyers starting Monday.
