Point taken, but it's the same at Phillips, Christie's or Bonhams - everyone pays pays hammer price plus buyers' premium and 20% tax on the premium only - (not on the Hammer price with premium)

Importantly, if you're outside the EU, ie in the U.S. or China or Japan, then the tax on the buyers' premium is either not charged or recouped at export.

Auction plays a vitally important part in setting public prices for watches. If you're sensible then buying at auction can present great opportunities, you just need to be aware - so if say your personal limit for a particular watch is net $1000 then don't bid higher than $770/80

: Ciao Ben, in my opinion there are some interesting watches but if
: you considering potential hammer price + premium price (25%) +
: VAT (20%) I'm not sure that this auction can be an opportunity
: for us. It's my opinion, of course.

: What do you think about this?