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By the way, according to US tax law bullion, coins, and collectibles fall under the highest taxable rate. So Sotheby’s probably had a negotiated seller’s premium around 5% which means $28,998 off the top. Taxes of $187,329 will need to to paid this year in addition to whatever regular taxes the seller usually pays to IRS. Oh, does the seller live in a state that collects state income tax?
Enjoy those obscene profits!
@william hi william, thanks for your insight. is there some cutoff point for this? because I feel like if I sell somethin for $100, or buy for $100, certainly the tax is still regular sales tax, right? I mean at least, I didn't notice any special when I'm buying stuff.
Different issues here. Buyers pay local sales tax and sellers are supposed to collect that tax for the state. You, of course are a ‘little fish’ and the state won’t be chasing after you for their tax. Sotheby’s is a big fish.
The taxes I was referring to are on the profits that the seller of that $35 bowl accrued from the auction today.
@johnshoe if it's not too personal for someone who owns that damaged palte - maybe it is possible to ask for an auction link for that plate which will sells at Christies?
Thank you all for comments and opinions!
Audrius
Lot sold:
721,800
USD
with premium fees...
@johnshoe Thank you for a link.
That's a little bit of a charger(20inch). Real beauty. It is very difficult to keep such charger in a same shape/condition as for 200 years plus in this size..
I am really surprised how such fragile and large items they survive for so many years at all.
Audrius
@william it is very bad "politics", to count other peoples money or in other words - to double check how much money in someone's wallet.
I am sure that nobody walks out of Sothebys with suitcase stuffed with cash it's a check most likely …Just ironic sentence obviously.
Regarding this sale, I think what ever profit is on this bowl for 35usd - easily full suitcase if filled with 5 or 10 notes. lol
Piece.
@william The taxman cometh and taketh, yay verily and often. Try winning at Vegas Lucky and beating the taxman to the front door. Does not happen very often and when it did, it made the national news.
@lucky I have a Yongzheng era armorial charger, and I am struck by how delicate it feels, so I agree it is amazing how such brittle objects survive all the years and world travels they have seen. They are rare indeed and have been cherished by many to make it all this way.
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A free Asian art discussion board and Asian art message board for dealers and collectors of art and antiques from China, Japan, Korea, Thailand, Cambodia, Vietnam and the rest of Asia. Linked to all of the BidAmount Asian art reference areas, with videos from plcombs Asian Art and Bidamount on YouTube. Sign up also for the weekly BidAmount newsletter and catalogs of active eBay listing of Chinese porcelain, bronze, jades, robes, and paintings.
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Chinese Art - View Auction details, bid, buy and collect the various artworks at Sothebys Art Auction House.
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Bonhams : Chinese Works of Art We use cookies to remember choices you make on functionality and personal features to enhance your experience to our site. By continuing to use our site you consent to the use of cookies. Please refer to our privacy and cookie policies for more information.
Bonhams Fine Art Auctioneers & Valuers: auctioneers of art, pictures, collectables and motor cars. We use cookies to remember choices you make on functionality and personal features to enhance your experience to our site. By continuing to use our site you consent to the use of cookies. ... Chinese Art (US) General enquiries
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Bonhams Fine Art Auctioneers & Valuers: auctioneers of art, pictures, collectables and motor cars Bonhams : Asian Art We use cookies to remember choices you make on functionality and personal features to enhance your experience to our site.
Bonhams are international auctioneers of fine Chinese and Japanese art. We specialise in rare Imperial and Export Chinese ceramics and works of art, as well as Japanese ceramics, fine and decorative works of art from the Neolithic Period to the 20th century. View on map
Bonhams Fine Art Auctioneers & Valuers: auctioneers of art, pictures, collectables and motor cars. We use cookies to remember choices you make on functionality and personal features to enhance your experience to our site. By continuing to use our site you consent to the use of cookies. ... Asian Art Bonhams. Work. 22 Queen St.