Sotheby's
One of the oldest and best-known auction houses in the world, selling fine art, jewelry, watches, wine and luxury goods in live, online and private sales. Here is what it sells, how buying works there, and what it costs, in plain words, with a straight link to the house.
- Founded
- 1744
- Based in
- New York
- Buyer's premium
- 28%
- NY card limit
- $200,000
Go to Sotheby's →How buying worksFees
About Sotheby's
Sotheby's began as a book auctioneer in London in 1744 and grew into one of the two names most people think of when they hear the words fine art auction. Its headline evening sales of Impressionist, modern and contemporary art set price records that make the news around the world, but most of what it sells each year is far less famous: prints, jewelry, watches, wine, furniture, design, books and collectibles, many of them at prices well within reach of everyday collectors.
Sales run on a calendar through the year in its salerooms in New York, London, Hong Kong and Paris, and online. Many lots also take bids in advance online before the live sale begins, so you can take part from anywhere with an account. The house also sells some items at a fixed price, and handles private sales between buyers and sellers.
What Sotheby's sells
How buying works at Sotheby's
- Make a free accountSign up on sothebys.com or in the Sotheby's app for iPhone. One account works for every sale.
- Register for the saleEach auction has a Register to Bid link on its overview page. You accept that sale's Conditions of Sale once, the first time you bid in it.
- Choose how to bidBid online in advance by setting a maximum, which the system raises for you up to your limit, or bid during the live sale online, in the app, by telephone or in the saleroom. Some live evening sales need a ticket to attend in person.
- Add the costsThe winning bid (the hammer price) is not the total. The buyer's premium is added on top, along with any sales tax or import charges where your item is going.
- Pay and collectPayment, pickup and shipping terms are set out in each sale's Conditions of Sale. Read them before you bid, especially for large or fragile pieces.
What it costs
Sotheby's buyer's premium since February 13, 2026, by part of the hammer price, in every saleroom:
| Where and how much | Buyer's premium |
|---|---|
| New York: up to $2M / $2M–$8M / over $8M | 28% / 22% / 15% |
| London: up to £1.5M / £1.5M–£6M / over £6M | 28% / 22% / 15% |
| Paris, Cologne, Milan: up to €1.75M / €1.75M–€7M / over €7M | 28% / 22% / 15% |
| Hong Kong: up to HK$15M / HK$15M–60M / over HK$60M | 28% / 22% / 15% |
| Switzerland: up to CHF 1.6M / CHF 1.6M–7M / over CHF 7M | 28% / 22% / 15% |
| Singapore: up to S$2.6M / S$2.6M–10M / over S$10M | 28% / 22% / 15% |
| Wine and spirits, everywhere | 24% + 1% overhead premium = 25% |
| Before February 13, 2026 | 27% up to $1M, 22% to $8M, 15% above |
Each band applies only to the part of the price inside it: a $10,000 lot costs $12,800 before tax, and a $3 million lot costs $3,780,000. The same rates apply to online-only sales.
Paying, pickup and storage
| When to pay | Right after the auction (Sotheby's global buyer's guide); London's conditions allow 5 days |
| Late payment, London | 6% a year above HSBC base rate |
| Payment, New York | ACH from a US bank, credit or debit card, or USD wire |
| Card limit per invoice | New York $200,000 · London £30,000 · Hong Kong HK$1M · Paris, Milan, Germany €40,000 · Switzerland CHF 50,000 · Singapore S$150,000 |
| Credit card surcharge, New York | 3% (not on debit cards, wire, ACH or Buy Now) |
| ACH limit, New York | $1,000,000 per payment, no fee, 5 business days to clear |
| Cash | Paris up to €1,000 (French residents) or €15,000 (non-residents); Milan up to €5,000 per invoice |
| Cryptocurrency | Bitcoin, Ether or USDC on lots marked for it, from approved exchange wallets, within 10 business days |
| Collection | 30 days from the sale (60 for Preferred members), then late collection fees |
| Storage, Geneva | Free 30 days, then CHF 12 per lot per month |
| Wine storage | London free 30 days then £2 per case per week · Paris free 30 days then €10 per lot per month · Hong Kong free 30 days |
| Wine delivery, Manhattan | $25 to $65 depending on cases; repacking $20 per lot |
| Shipping | Sotheby's Delivery quotes in your account after you pay; timed sales usually ship within 30 days |
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UX Search is independent and is not affiliated with or endorsed by Sotheby's. Bidding, payment and delivery all happen on the house's own site under its own terms. Information checked October 21, 2026 from sothebys.com/en/how-bidding-works and Antiques Trade Gazette, February 2026 (buyer's premium); fees and rules can change, so confirm them on the sale page.