Sotheby's Reverses Its 2024 Buyer's-Fee Overhaul
Breuer Building, 945, Madison Avenue, Upper East Side, Manhattan, New York County, New York, 10021, United States
Sotheby's
CONFIRMEDDate confidence: CONFIRMEDStated as firmHow firmly the source words the date: confirmed, scheduled, estimated, delayed or unverified.Show all CONFIRMED pins90% CONFIDENCEOverall confidence: 90%How well the pin's source and references back up its dates.Weighted average of how firmly 2 references, the source included, support the pin's start and end times; a reference counts half as much for every 180 days older than the newestShow all pins at 75% confidence or betterARTnews[2] reported the reversal 'In a letter sent to clients on Thursday' (19 December 2024); The Art Newspaper's[1] account, published the same day, gives the new terms as taking effect '17 February 2025'.
Sotheby's told clients it was scrapping the streamlined buyer's-premium and flat seller's-commission structure it had rolled out in May, reverting from 17 February 2025 to bespoke seller terms and a tiered buyer's premium of 15% to 27% of the hammer price.
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