Is VAT chargeable on goods sold in auction?
Please check each lot to see if VAT is payable. Just below where you enter your bid, you will see the additional fees listed or see a tab which displays any additional fees.
Here you will see if VAT is chargeable on that lot over and above your bid amount. The buyer’s premium, sometimes known as the auction fees, are also visible here.
VAT is always charged on the buyer’s premium element of the sale.
Will I still have to pay VAT if I intend to export the goods?
Yes, VAT will still be payable, even if you have an EU VAT number.
The VAT can be refunded on the provision of the relevant documentation proving the goods have been exported. The documentation must be submitted complete, and promptly, to the seller of the goods to obtain a VAT refund.
If this is your intention, then please contact us at the earliest opportunity to ensure this process is handled smoothly.