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Issue 111 - Premium Economy

Whisky Magazine Issue 111
April 2013

 

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Premium Economy

Jonny McCormick takes a look at the auction houses.

Two auction houses have just raised the price buyers pay for their services. When a scuffle of frantic
bidding erupts on a rare bottle of whisky, you need to be able to mentally calculate the final price of your
bids to match the pace of the auctioneer. Auction house specialists tell me they are still surprised by new clients who have failed to read the terms and conditions and expect to bid £100 and pay £100 when the lot is knocked down. You must add buyer's premium plus tax (on that premium, not the whisky) to your total, and online bidders and credit card users can attract additional fees for using that service. Firstly, McTear's, Glasgow announced a rise of two per cent in their premiums to 20 per cent in January. This takes the cost of a £100 bid from £121.60 to £124 including tax on the premium at 20 per cent. Christie's increased their premiums from 15 per cent to 17 per cent which will affect the June whisky auction. No other businesses have followed suit at the time of writing, meaning we are expecting other establishments to charge their 2012 premiums; 25 per cent Bonhams, Edinburgh, 20 per cent Taylor's Auctions, 19 per cent Bonhams, New York and Hong Kong, 17.5 per cent Mulberry Bank Auctions, 17.5 per cent Tennant's Auctioneers, Cluny Auctions 15 per cent. Online only; 20 per cent McTear's Gallery 1842, 10 per cent Scotch Whisky Auctions, 10 per cent Whisky-Online and no auctioneering
costs at whiskyauction.com.

Auction Watch
McTear's eased us into the year...

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