💍 HIDDEN AUCTION COSTS 💍 Finally the wait is over! Tomorrow @Bonhams1987 Knightsbridge Jewels Auction is opening its sparkly doors 🤩 But what are the hidden costs of acquiring these dream jewels - you may ask? Keep on reading to find out more and share your auction experiences in the comments below! It is hard to miss a beautiful jewel but not everyone can spot the hidden costs of online bidding - from the buyer’s premium to the reserve price, I have learned the hard way and I won’t be overlooking these details again - my dears let’s get this going! In auctions, the buyer's premium is a charge in addition to the hammer price (i.e. the winning bid announced) of an auction item, or lot. The winning bidder is required to pay both the hammer price and the percentage of that price called for by the buyer's premium 👩‍⚖️ (Buyer’s premium at @bonhamsjewels will be 27.5% on the first £20,000 of the hammer priceq. VAT at the current rate of 20% will be added to the Buyer’s Premium). The Reserve Price is the seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. Although the reserve price is not commonly disclosed and remains confidential between the seller and the auctioneer - some auctions allow their customers to play a bid below the estimate. Don’t forget to register! Check my previous posts to find out how to bid 🌟 #jewelleryface #gemologue 📷 @gemkreatives @LizaUrla . . #bonhams1793 #bonhams #jewelryblogger #jewellerybloggers #jewelleryblog #jewelryblog #highjewelry #jewelrylovers #hautejoaillerie #gemstonelovers #vintagejewellery #diamondring #finecraftsmanship #londonblog #jewelleryarabiabahrain2022 #londonjeweller #vintagejewelrylover #llike4like #jewelrydesigner #diamondbracelet #jewelryauction #vintagecartier #schmuck #gioello #bijou #vintagejewelrylover #jewelleryauctions