Page 124 - Lieber Collection Chinese Art

The Art Loss Register#As part of you determine how to proceed should you Tax Authorities and collect and remit Certain Exemptions Most states that
Sotheby’s e$ orts to support only the wish to continue with the auction process. sales tax if the corporation maintains a impose sales taxes allow for speci! ed
legitimate art market and to combat the They will provide information regarding presence within the state, such as o" ces. exemptions to the tax. For example, a
illegitimate market in stolen property, sellers’ commission rates and other In the states that impose sales tax, Tax registered re-seller such as a registered art
Sotheby’s has retained the Art Loss charges, auction venue, shipping and any Laws require an auction house, with a dealer may purchase without incurring a
Register to check all uniquely identi! able further services you may require. presence in the state, to register as a sales tax liability, and Sotheby’s is not required
items o$ ered for sale in this catalogue that tax collector, and remit sales tax collected to collect sales tax from such re-seller. The
are estimated at more than the equivalent to the state. New York sales tax is charged art dealer, when re-selling the property,
of US$1,500 against the Art Loss Register’s SOTHEBY’S SERVICES on the hammer price, buyer’s premium may be required to charge sales tax to
computerized database of objects reported and any other applicable charges on any its client, or the client may be required to
as stolen or lost. The Art Loss Register Sotheby’s also o$ ers a range of other property picked up or delivered in New York, self-assess sales or use tax upon acquiring
is pleased to provide purchasers with a regardless of the state or country in which the property.
services to our clients beyond buying
certi! cate con! rming that a search has and selling at auction. These services are the purchaser resides or does business.
been made. All inquiries regarding search Local Tax Advisors As sales tax laws vary
summarized below. Further information on
certi! cates should be directed to The Art any of the services described below can be Where Sotheby’s Collects Sales Tax from state to state, Sotheby’s recommends
Loss Register, First Floor, 63-66 Hatten Sotheby’s is currently registered to collect that clients with questions regarding the
found at sothebys.com.
Garden, London EC1N 8LE or by email at sales tax in the following states: California, application of sales or use taxes to property
artloss@artloss.com. The Art Loss Register Colorado, Connecticut, Florida, Illinois, purchased at auction seek tax advice from
Valuations and Appraisals Sotheby’s
does not guarantee the provenance or Valuations and Appraisals Services o$ ers Maryland, Massachusetts, Minnesota, their local tax advisors.
title of any catalogued item against which Missouri, New Jersey, New York, Ohio,
advice regarding personal property assets
they search, and will not be liable for any to trusts, estates, and private clients Pennsylvania, Texas and Washington. For
direct or consequential losses of any nature any property collected or received by the
in order to help ! duciaries, executors, GLOSSARY OF TERMS
howsoever arising. This statement and the advisors, and collectors meet their goals. purchaser in New York City, such property
ALR’s service do not a$ ect your rights and is subject to sales tax at the existing
We provide e" cient and con! dential The following are examples of the termi-
obligations under the Conditions of Sale advice and assistance for all appraisal New York State and City rate of 8.875%. nology used in this catalogue. Please note
applicable to the sale.
and auction services. Sotheby’s can that all statements made in this catalogue
prepare appraisals to suit a variety of Sotheby’s Arranged Shipping If the are made subject to the provisions of the
property is delivered into any state in
needs, including estate tax and planning, Conditions of Sale and Terms of Guarantee
SELLING AT AUCTION insurance, charitable contribution and which Sotheby’s is registered, Sotheby’s printed in this catalogue:
is required by law to collect and remit the
collateral loan. Our appraisals are widely
If you have property you wish to sell, accepted by the Internal Revenue Service, appropriate sales tax in e$ ect in the state GLOSSARY FOR CHINESE CERAMICS
where the property is delivered.
Sotheby’s team of specialists and client tax and estate planning professionals, AND WORKS OF ART
services representatives will assist you and insurance ! rms. In the event that
Client Arranged Shipping Property
through the entire process. Simply contact a sale is considered, we are pleased to Pottery Figure of a Horse, Tang
the appropriate specialist (specialist provide auction estimates, sales proposals collected from Sotheby’s New York Dynasty This heading, with date or period
premises by a common carrier hired by the
departments are listed in the back of this and marketing plans. When sales are included, means that the piece is, in our
catalogue), General Inquiries Department underway, the group works closely with purchaser for delivery at an address outside opinion, of the date or period indicated
of New York is not subject to New York Sales
or a Sotheby’s regional o" ce representative the appropriate specialist departments with no major alterations or replacements
for suggestions on how best to arrange for to ensure that clients’ needs are met Tax, but if the property is delivered into unless otherwise in dicated in the
any state in which Sotheby’s is registered,
evaluation of your property. promptly and e" ciently. cataloguing.
Sotheby’s is required by law to collect and
remit the appropriate sales tax in e$ ect in With respect to ceramics and sculpture,
Property Evaluation#There are three Financial Services Sotheby’s o$ ers a if, in our opinion, the piece was made at
general ways evaluation of property can be wide range of ! nancial services including the state where the property is delivered.
New York State recognizes shippers a speci! c kiln or location, the name of
conducted: advances on consignments, as well as the kiln or location will appear in bold or
loans secured by art collections not such as the United States Postal Service,
United Parcel Service, FedEx, or the like as capital letters, i.e., DING OVOID VASE,
(1) In our galleries intended for sale. SONG DYNASTY. However, if the heading
You may bring your property directly to our “common carriers”. If a purchaser hires a
shipper other than a common carrier to pick appears as follows, ‘DING’ OVOID VASE,
galleries where our specialists will give you Museum Services Tailored to meet the SONG DYNASTY, this indicates that, in
auction estimates and advice. There is no unique needs of museums and non pro! ts up property, Sotheby’s will collect New York
sales tax at a rate of 8.875% regardless of our opinion, the piece is of the Ding type
charge for this service, but we request that in the marketplace, Museum Services or location, and although of the date
you telephone ahead for an appointment. o$ ers personal, professional assistance the ultimate destination of the goods. If a
purchaser utilizes a freight-forwarder who is speci! ed, not necessarily made at the Ding
Inspection hours are 9:30 am to 5 pm, and advice in areas including appraisals, kiln or location.
Monday through Friday. deaccessions, acquisitions and special registered with the Transportation Security
Administration (“TSA”) to deliver property
events. Pottery Figure of a Horse, Tang Style
(2) By photograph outside of the United States, no sales tax This inclusion of the word “style” indicates
If your property is not portable, or if you would be due on this transaction.
Corporate Art Services Devoted that, in our opinion, either the piece (i)
are not able to visit our galleries, you may to servicing corporations, Sotheby’s while basically of the period indicated,
bring in or send a clear photograph of Where Sotheby’s is Not Required
Corporate Art Services Department has undergone signi! cant restoration
each item. If you have a large collection, a can prepare appraisal reports, advise to Collect Sales Tax Sotheby’s is not or alteration, or (ii) was made as an
representative selection of photographs required to collect sales tax on property
on acquisitions and deaccessions, intentional reproduction of an earlier style.
will do. Please be sure to include the manage all aspects of consignment, delivered to states other than those listed
dimensions, artist’s signature or maker’s above. If the property is delivered to a Where a ceramic or work of art bears a
assist in developing arts-management
mark, medium, physical condition and any strategies and create events catering to a state where Sotheby’s is not required to signature or seal of an artist or studio, if the
other relevant information. Our specialists collect sales tax, it is the responsibility of heading appears as follows:
corporation’s needs.
will provide a free preliminary auction the purchaser to self-assess any sales or By Ma Shaoxuan This work is, in our best
estimate subject to a ! nal estimate upon use tax and remit it to taxing authorities in judgment, by the named artist.
! rst-hand inspection. that state.
INFORMATION ON SALES Attributed to Ma Shaoxuan In our
(3) In your home Sotheby’s is not required to collect sales
AND USE TAX RELATED TO opinion, probably a work by the artist but
Evaluations of property can also be made PURCHASES AT AUCTION tax for property delivered to the purchaser less certainty as to authorship is expressed
in your home. The fees for such visits outside of the United States. than in the preceding category.
are based on the scope and diversity of To better assist our clients, we have
property, with travel expenses additional. Restoration and Other Services Signed Ma Shaoxuan The piece bears
prepared the following information on
These fees may be rebated if you consign Sales and Use Tax related to property Regardless of where the property is the signature or seal of the artist or studio
your property for sale at Sotheby’s. If there subsequently transported, if any framing or but with no ! rm attribution as to the hand.
purchased at auction.
is considerable property in question, we restoration services are performed on the Absence of Guarantee of Authenticity
can arrange for an informal “walkthrough.” property in New York, it is considered to be
Why Sotheby’s Collects Sales Tax for Chinese Paintings The artists’
a delivery of the property to the purchaser
Once your property has been evaluated, Virtually all State Sales Tax Laws require names recorded in this catalogue are not
Sotheby’s representatives can then help a corporation to register with the State’s in New York, and Sotheby’s will be required to be taken as unquali! ed attributions
to collect the 8.875% New York sales tax. to the artists named. No unquali! ed
122 SOTHEBY’S