Purchases made from all auctions, including benefit auctions, are subject to sales tax. In the case of multiple bidders placing the same maximum bid, the first person to place the maximumĪmount takes precedence as the highest bid until another bidder exceeds the maximum amount.įor Artspace Auctions winning bidders are charged a 15% Buyer's Premium on top of the hammer price.įor Artspace Benefit Auctions, Buyer's Premiums are not applied. If your maximumīid no longer exceeds the current bid, you will receive an outbid notification email, and have the Winning amount is less than your maximum bid, you will pay the current increment. Unfolds, we will increase your bid by increments to ensure you remain the highest bidder. Spend for a work, though this does not necessarily mean you will pay that price. You should always bid the maximum you are willing to Every bid submitted is treated as a maximum bid.
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