The Real Cost of Winning the Lot Just Went Up

Two of the auction world's most established names have quietly revised what collectors pay above the hammer price. Christie's adjusted its buyer's premium structure in September 2025, while Bonhams made its first such change since 2023. For collectors, the number that matters isn't just what a lot sells for at auction, but what lands on the final invoice once the house's fee is added. Both changes came without fanfare, tucked into the fine print rather than announced with headlines. The adjustment is a reminder that the arithmetic of winning a bid is worth checking as closely as the estimate itself.

With reporting from ARTnews.