Christie’s and Bonhams Quietly Hike Buyers’ Fees

Christie’s and Bonhams have both quietly raised the fees they charge buyers. The charges, which auction houses like to call “buyer’s premiums,” are added on top of a lot’s hammer price and are a key source of revenue for the houses.   At Christie’s, effective September 1, the house is charging 28% of the hammer price of each lot up to and including £1.5 million or $2 million; 22% of the hammer price from £1.5 million or $2 million up