Buyer's Premium

A non-negotiable fee charged by an auction house to buyers on top of the hammer price. This fee is determined on a sliding scale based on hammer price and should be factored in when accounting for the total cost of a work of art.





RELATED SECTIONS:

Art Investing Risks

Art as a Financial Art

Buying Contemporary Art

RELATED GLOSSARY WORDS:

Art Fund

Bought In

Guarantees

Buyer’s Price

Auction Guarantee

Blockage Discount