Who pays the buyer's premium and VAT?
The buyer does. The buyer's premium is a percentage added to the hammer price and paid by the buyer along with the hammer price. VAT is added to the premium and, where the vendor is VAT registered, to the hammer price as well. We collect all of this from the buyer and account for it. Your return is the hammer price less the commission and costs agreed in your instruction.
This question comes up in
Commercial vehicle and fleet auctions
Vans, trucks, trailers and whole fleets sold with the paperwork sorted and finance settled.
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