Page 120 - Robert Youngman Collection Of Chinese Jade March 2019 Sotheby's

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