Are there any additional fees on top of the hammer price?

Yes, there are typically additional fees associated with bidding at Sotheby's auctions that go beyond the hammer price. During an auction, the hammer price refers to the final bid accepted by the auctioneer for an item. However, buyers should be aware that a buyer's premium is added to the hammer price, which is a percentage used to cover the cost of conducting the auction. This premium can vary depending on the value of the item being sold and is generally detailed in the auction catalog or on the Sotheby's website. In addition to the buyer's premium, there may also be applicable taxes, such as sales tax, depending on the location of the auction and the laws that apply there. It is important for potential buyers to familiarize themselves with these fees ahead of time to understand the total cost of acquiring an item at auction. Moreover, Sotheby's might also have specific terms and conditions regarding payment methods, shipping, and handling that could incur additional charges. As always, it is advisable for buyers to review the relevant auction house policies and guidelines for a complete disclosure of any fees that may apply to their purchase. For the most accurate and detailed information regarding fees, interested parties may find it helpful to refer to the auction information available on the Sotheby's website.