artnet News | Brian Boucher:
Christie’s is changing the fees that it charges buyers in a measure to raise revenue. It’s the first time since October 2013 that the auction house has updated the structure on the fees it charges buyers; the change takes effect September 19, and will apply to all the house’s wares but wine, Marion Maneker notes in Art Market Monitor.
Auction houses traditionally charge graded fees, assigning the highest percentage on lower-priced items and a lower percentage as amounts go up. With the changes, the house aims to increase profitability by raising the floor on which it charges its steepest fees and widening the band on which it charges its second-highest fees… Read more
Image: Courtesy Christie’s