If your property sells at auction, you will receive a notification informing you of the hammer price - the winning bid for a lot at auction - that your item achieved. The money you receive – the net sale proceeds - will be based on the hammer price less our agreed seller’s commission and any agreed upon expenses, such as illustration or loss and damage warranty fee.
We will not deduct any expenses that have not been agreed with you before sale. The date for payment of the net sale proceeds varies between selling locations and we can advise you of the payment date for your property. Payment for sold property is made provided we are in receipt of cleared funds from the buyer.
Please note that Bonhams is entitled to charge a fee to the successful purchase - the Buyer’s Premium - on any property we sell on your behalf. This fee is for Bonhams account and you accept that we are entitled to retain it. Buyer’s Premium rates vary but are displayed on our website so please let us know if you require more information.