For Motor Cars a 15% Buyer's Premium is payable on the first £50,000 of the final Hammer Price of each Lot, and 12% on any amount by which the Hammer Price exceeds £50,000. VAT at the standard rate is payable on the Premium by all Buyers, unless otherwise stated.
VAT is 20% so effectively buyers premium is 18%.
The 25% premium is on Automobilia and License Plates (registration plates in the UK which are issued by DVLA and you have to wait for a sequence to be released to general public and can be traded)
If anyone goes to the auction ...... please post the result.
It's interesting to contemplate that if the car sells for £80,000 then with the premiums, plus the VAT on the premiums, that the final price will be ............... £93,320 !!!!!!
That makes the three GT40's replica's that Total Head Turners are currently offering look real cheap !
I wait with keen interest to hear the result.