LOT DESCRIPTION: SYMBOLS GLOSSARY

λ Indicates that this lot may be subject to Artist’s Resale Right (Droit de Suite) royalty charges

Under Artist’s Resale Rights (ARR), artists and their beneficiaries are entitled to a royalty payment when their work is resold through an art market professional. The royalty is calculated on the hammer price when the hammer reaches or exceeds £1,000. The royalty is charged according to rate bands applied to portions of the hammer price as dictated by The Design Right, Artist’s Resale Right and Copyright (Amendment) Regulations 2023 and is exempt of VAT.

For items with a hammer price from £1,000 but less than £50,000 the royalty rate is 4%. Further information about all the rate bands can be found in par. 13 of our Terms & Conditions and on www.dacs.org.uk.

Y Indicates that this lot may be subject to CITES regulations when exported.  The import of lots that are subject to CITES regulations are banned in certain countries. Please check your country's import regulations before bidding. For further details on CITES regulations, click here: www.gov.uk/guidance/cites-imports-and-exports.

† Indicates that VAT is payable by the purchaser at the standard rate of 20% on the hammer price as well as being charged on the buyer’s premium.

Ɵ Indicates that the lot is a zero rated item and therefore subject to buyer’s premium of 26% exclusive of VAT (0% VAT). This applies to bound books (manuscripts and printed), unframed maps and albums.

‡ Indicates that the lot is being sold whilst subject to temporary importation and that import VAT at the reduced rate (currently 5%) calculated on the hammer price is due.

Ω Indicates that the lot has been imported from outside the UK and that import VAT at the standard rate (currently 20%) calculated on the hammer price (inclusive of any applicable duty) is due.

ß Indicates that the lot is offered in Bond. This applies to wine. Bidding will be at duty paid prices other than for those lots marked ‘IN BOND/β’. Dreweatts’ Wine Department will contact buyers who have purchased wine ‘IN BOND/β’ to ascertain if the wine is to be removed from bond or transferred to a bonded account. Buyers of wine to be removed from bond will be invoiced duty and vat on the hammer price at the prevailing rates. VAT will also be added to the buyer’s premium on lots purchased whether or not they remain ‘in bond’.

NOTE: the import VAT charged for lots with symbols ‡ and Ω can be refunded if Dreweatts is instructed to re-export the property or if the VAT liability is transferred to another Temporary Admission authorisation.

Please see our Terms & Conditions for more information.