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<p>[QUOTE="Nerva, post: 3112817, member: 87761"]That's only the start of it. The big auction houses (Sotheby's, Christie's etc) have slideling scales of buyer's premium. Then there's artist's resale rights in the EU for modern art. And sometimes VAT on the lot as well as the premium. Coins are easy! As people have already said, coins are typically free of sale tax (because ancient), so the VAT applies only to the service (the premium), and is sometimes refundable. </p><p>Ask the auctioneer if you're in any doubt about export license. Typically there will be no issue. It's more often a problem with fine art, but usually the decision about export of coins will take place before the auction. Import is more difficult, given MOU. These are implemented inconsistently, so you're taking a risk.</p><p>I am not an expert on this, but I've done some research and I'm planning to write an article about it. DM me if you'd like more info. And I'm especially interested in gossip about how it works in practice. Please DM me if you have any good anecdotes.[/QUOTE]</p><p><br /></p>
[QUOTE="Nerva, post: 3112817, member: 87761"]That's only the start of it. The big auction houses (Sotheby's, Christie's etc) have slideling scales of buyer's premium. Then there's artist's resale rights in the EU for modern art. And sometimes VAT on the lot as well as the premium. Coins are easy! As people have already said, coins are typically free of sale tax (because ancient), so the VAT applies only to the service (the premium), and is sometimes refundable. Ask the auctioneer if you're in any doubt about export license. Typically there will be no issue. It's more often a problem with fine art, but usually the decision about export of coins will take place before the auction. Import is more difficult, given MOU. These are implemented inconsistently, so you're taking a risk. I am not an expert on this, but I've done some research and I'm planning to write an article about it. DM me if you'd like more info. And I'm especially interested in gossip about how it works in practice. Please DM me if you have any good anecdotes.[/QUOTE]
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Help with understanding UK auctioneer terms?
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