Page 101 - Indian, Himalayan and Tibetan Art March 2018

as stolen or lost. The Art Loss Register to the state. New York sales tax is charged tax liability, and Sotheby’s is not required
is pleased to provide purchasers with a SOTHEBY’S SERVICES on the hammer price, buyer’s premium to collect sales tax from such re-seller. The
certi! cate con! rming that a search has and any other applicable charges on any art dealer, when re-selling the property,
been made. All inquiries regarding search Sotheby’s also o" ers a range of other property picked up or delivered in New York, may be required to charge sales tax to
certi! cates should be directed to The Art services to our clients beyond buying regardless of the state or country in which its client, or the client may be required to
Loss Register, First Floor, 63-66 Hatten and selling at auction. These services are the purchaser resides or does business. self-assess sales or use tax upon acquiring
Garden, London EC1N 8LE or by email at summarized below. Further information on the property.
artloss@artloss.com. The Art Loss Register any of the services described below can be Where Sotheby’s Collects Sales Tax
does not guarantee the provenance or found at sothebys.com. Sotheby’s is currently registered to collect Local Tax Advisors As sales tax laws vary
title of any catalogued item against which sales tax in the following states: California, from state to state, Sotheby’s recommends
they search, and will not be liable for any Valuations and Appraisals Sotheby’s Colorado, Connecticut, Florida, Illinois, that clients with questions regarding the
direct or consequential losses of any nature Valuations and Appraisals Services o" ers Maryland, Massachusetts, Minnesota, application of sales or use taxes to property
howsoever arising. This statement and the advice regarding personal property assets Missouri, New Jersey, New York, Ohio, purchased at auction seek tax advice from
ALR’s service do not a" ect your rights and to trusts, estates, and private clients Pennsylvania, Texas and Washington. For their local tax advisors.
obligations under the Conditions of Sale in order to help ! duciaries, executors, any property collected or received by the
applicable to the sale. advisors, and collectors meet their goals. purchaser in New York City, such property
We provide e& cient and con! dential is subject to sales tax at the existing
advice and assistance for all appraisal New York State and City rate of 8.875%.
and auction services. Sotheby’s can
SELLING AT AUCTION
prepare appraisals to suit a variety of Sotheby’s Arranged Shipping If the
needs, including estate tax and planning, property is delivered into any state in
If you have property you wish to sell, insurance, charitable contribution and
Sotheby’s team of specialists and client which Sotheby’s is registered, Sotheby’s
services representatives will assist you collateral loan. Our appraisals are widely is required by law to collect and remit the
accepted by the Internal Revenue Service,
through the entire process. Simply contact appropriate sales tax in e" ect in the state
the appropriate specialist (specialist tax and estate planning professionals, where the property is delivered.
and insurance ! rms. In the event that
departments are listed in the back of this
catalogue), General Inquiries Department a sale is considered, we are pleased to Client Arranged Shipping Property
provide auction estimates, sales proposals
or a Sotheby’s regional o& ce representative collected from Sotheby’s New York
for suggestions on how best to arrange for and marketing plans. When sales are premises by a common carrier hired by the
underway, the group works closely with
evaluation of your property. purchaser for delivery at an address outside
the appropriate specialist departments of New York is not subject to New York Sales
to ensure that clients’ needs are met Tax, but if the property is delivered into
Property Evaluation#There are three
general ways evaluation of property can be promptly and e& ciently. any state in which Sotheby’s is registered,
conducted: Sotheby’s is required by law to collect and
Financial Services Sotheby’s o" ers a remit the appropriate sales tax in e" ect in
wide range of ! nancial services including the state where the property is delivered.
(1) In our galleries
You may bring your property directly to our advances on consignments, as well as New York State recognizes shippers
loans secured by art collections not
galleries where our specialists will give you such as the United States Postal Service,
auction estimates and advice. There is no intended for sale. United Parcel Service, FedEx, or the like as
charge for this service, but we request that “common carriers”. If a purchaser hires a
you telephone ahead for an appointment. Museum Services Tailored to meet the shipper other than a common carrier to pick
unique needs of museums and non pro! ts
Inspection hours are 9:30 am to 5 pm, up property, Sotheby’s will collect New York
Monday through Friday. in the marketplace, Museum Services sales tax at a rate of 8.875% regardless of
o" ers personal, professional assistance the ultimate destination of the goods. If a
(2) By photograph and advice in areas including appraisals, purchaser utilizes a freight-forwarder who is
If your property is not portable, or if you deaccessions, acquisitions and special registered with the Transportation Security
are not able to visit our galleries, you may events. Administration (“TSA”) to deliver property
bring in or send a clear photograph of outside of the United States, no sales tax
each item. If you have a large collection, a Corporate Art Services Devoted would be due on this transaction.
representative selection of photographs to servicing corporations, Sotheby’s
will do. Please be sure to include the Corporate Art Services Department Where Sotheby’s is Not Required
dimensions, artist’s signature or maker’s can prepare appraisal reports, advise to Collect Sales Tax Sotheby’s is not
mark, medium, physical condition and any on acquisitions and deaccessions, required to collect sales tax on property
other relevant information. Our specialists manage all aspects of consignment, delivered to states other than those listed
will provide a free preliminary auction assist in developing arts-management above. If the property is delivered to a
estimate subject to a ! nal estimate upon strategies and create events catering to a state where Sotheby’s is not required to
! rst-hand inspection. corporation’s needs. collect sales tax, it is the responsibility of
the purchaser to self-assess any sales or
(3) In your home
Evaluations of property can also be made use tax and remit it to taxing authorities in
in your home. The fees for such visits INFORMATION ON SALES that state.
are based on the scope and diversity of AND USE TAX RELATED TO Sotheby’s is not required to collect sales
property, with travel expenses additional. PURCHASES AT AUCTION tax for property delivered to the purchaser
These fees may be rebated if you consign outside of the United States.
your property for sale at Sotheby’s. If there To better assist our clients, we have
is considerable property in question, we prepared the following information on Restoration and Other Services
can arrange for an informal “walkthrough.” Sales and Use Tax related to property Regardless of where the property is
purchased at auction. subsequently transported, if any framing or
Once your property has been evaluated,
restoration services are performed on the
Sotheby’s representatives can then help Why Sotheby’s Collects Sales Tax
you determine how to proceed should you property in New York, it is considered to be
Virtually all State Sales Tax Laws require a delivery of the property to the purchaser
wish to continue with the auction process. a corporation to register with the State’s
They will provide information regarding in New York, and Sotheby’s will be required
Tax Authorities and collect and remit to collect the 8.875% New York sales tax.
sellers’ commission rates and other sales tax if the corporation maintains a
charges, auction venue, shipping and any Photography:
presence within the state, such as o& ces. Certain Exemptions Most states that
further services you may require.
In the states that impose sales tax, Tax impose sales taxes allow for speci! ed Scott Elam
Laws require an auction house, with a exemptions to the tax. For example, a Ber Murphy
presence in the state, to register as a sales registered re-seller such as a registered art Pauline Shapiro
tax collector, and remit sales tax collected dealer may purchase without incurring a
INDIAN, HIMALAYAN AND SOUTHEAST ASIAN WORKS OF ART 99