Page 188 - Sotheby's Junkunc Collection March 2019

Client Arranged Shipping Property
SELLING AT AUCTION SOTHEBY’S SERVICES INFORMATION ON SALES collected from Sotheby’s New York premises
AND USE TAX RELATED TO by a common carrier hired by the purchaser
If you have property you wish to sell, Sotheby’s Sotheby’s also offers a range of other PURCHASES AT AUCTION for delivery at an address outside of New
team of specialists and client services services to our clients beyond buying York is not subject to New York Sales Tax,
representatives will assist you through the and selling at auction. These services are To better assist our clients, we have prepared but if the property is delivered into any state
entire process. Simply contact the appropriate summarized below. Further information on the following information on Sales and Use in which Sotheby’s is registered, Sotheby’s
specialist (specialist departments are listed in any of the services described below can be Tax related to property purchased at auction. is required by law to collect and remit the
the back of this catalogue), General Inquiries found at sothebys.com. appropriate sales tax in effect in the state
Department or a Sotheby’s regional office Why Sotheby’s Collects Sales Tax where the property is delivered. New York
representative for suggestions on how best to Valuations and Appraisals Sotheby’s Virtually all State Sales Tax Laws require State recognizes shippers such as the
arrange for evaluation of your property. Valuations and Appraisals Services offers a corporation to register with the State’s United States Postal Service, United Parcel
advice regarding personal property assets Tax Authorities and collect and remit sales Service, FedEx, or the like as “common
Property Evaluation There are three to trusts, estates, and private clients tax if the corporation either establishes or carriers”. If a purchaser hires a shipper
general ways evaluation of property can be in order to help fiduciaries, executors, maintains physical or economic presence other than a common carrier to pick up
conducted: advisors, and collectors meet their goals. within the state. In the states that impose property, Sotheby’s will collect New York
We provide efficient and confidential advice sales tax, Tax Laws require an auction house, sales tax at a rate of 8.875% regardless of
(1) In our galleries and assistance for all appraisal and auction with such presence in the state, to register the ultimate destination of the goods. If a
You may bring your property directly to our services. Sotheby’s can prepare appraisals as a sales tax collector, and remit sales tax purchaser utilizes a freight-forwarder who is
galleries where our specialists will give you to suit a variety of needs, including estate collected to the state. New York sales tax registered with the Transportation Security
auction estimates and advice. There is no tax and planning, insurance, charitable is charged on the hammer price, buyer’s Administration (“TSA”) to deliver property
charge for this service, but we request that contribution and collateral loan. Our premium and any other applicable charges outside of the United States, no sales tax
you telephone ahead for an appointment. appraisals are widely accepted by the on any property picked up or delivered in would be due on this transaction.
Inspection hours are 9:30 am to 5 pm, Internal Revenue Service, tax and estate New York, regardless of the state or country
Monday through Friday. planning professionals, and insurance firms. in which the purchaser resides or does Where Sotheby’s is Not Required to
In the event that a sale is considered, we are business.
(2) By photograph Collect Sales Tax Sotheby’s is not required
If your property is not portable, or if you are pleased to provide auction estimates, sales Where Sotheby’s Collects Sales Tax to collect sales tax on property delivered
proposals and marketing plans. When sales
not able to visit our galleries, you may bring to states other than those listed above. If
in or send a clear photograph of each item. If are underway, the group works closely with Sotheby’s is currently registered to collect the property is delivered to a state where
sales tax in the following states: Alabama,
the appropriate specialist departments to
you have a large collection, a representative Sotheby’s is not required to collect sales tax,
selection of photographs will do. Please ensure that clients’ needs are met promptly California, Colorado, Connecticut, District of it is the responsibility of the purchaser to self-
Columbia, Florida, Georgia, Hawaii, Illinois,
and efficiently.
be sure to include the dimensions, artist’s assess any sales or use tax and remit it to
signature or maker’s mark, medium, physical Financial Services Sotheby’s offers a Indiana, Iowa, Kentucky, Maine, Maryland, taxing authorities in that state.
Massachusetts, Michigan, Minnesota,
condition and any other relevant information. Sotheby’s is not required to collect sales
Our specialists will provide a free preliminary wide range of financial services including Missouri, Nebraska, Nevada, New Jersey, tax for property delivered to the purchaser
advances on consignments, as well as loans
New York, North Carolina, Ohio, Oklahoma,
auction estimate subject to a final estimate outside of the United States.
upon first-hand inspection. secured by art collections not intended for Pennsylvania, Rhode Island, South Carolina,
sale. Texas, Utah, Vermont, Washington, Wisconsin
(3) In your home and Wyoming. For any property collected Restoration and Other Services
Evaluations of property can also be made in Museum Services Tailored to meet the or received by the purchaser in New York Regardless of where the property is
your home. The fees for such visits are based unique needs of museums and non profits City, such property is subject to sales tax at subsequently transported, if any framing or
on the scope and diversity of property, with in the marketplace, Museum Services offers the existing New York State and City rate of restoration services are performed on the
travel expenses additional. These fees may personal, professional assistance and advice 8.875%. property in New York, it is considered to be a
be rebated if you consign your property for in areas including appraisals, deaccessions, delivery of the property to the purchaser in
sale at Sotheby’s. If there is considerable acquisitions and special events. Sotheby’s Arranged Shipping If the New York, and Sotheby’s will be required to
property in question, we can arrange for an property is delivered into any state in which collect the 8.875% New York sales tax.
informal “walkthrough.” Corporate Art Services Devoted to Sotheby’s is registered, Sotheby’s is required
servicing corporations, Sotheby’s Corporate by law to collect and remit the appropriate Certain Exemptions Most states that
Once your property has been evaluated, impose sales taxes allow for specified
Sotheby’s representatives can then help you Art Services Department can prepare sales tax in effect in the state where the exemptions to the tax. For example, a
determine how to proceed should you wish appraisal reports, advise on acquisitions property is delivered. registered re-seller such as a registered art
to continue with the auction process. They and deaccessions, manage all aspects of dealer may purchase without incurring a
will provide information regarding sellers’ consignment, assist in developing arts- tax liability, and Sotheby’s is not required to
commission rates and other charges, auction management strategies and create events collect sales tax from such re-seller. The art
venue, shipping and any further services you catering to a corporation’s needs. dealer, when re-selling the property, may
may require. be required to charge sales tax to its client,
or the client may be required to self-assess
sales or use tax upon acquiring the property.
Local Tax Advisors As sales tax laws vary
from state to state, Sotheby’s recommends
that clients with questions regarding the
application of sales or use taxes to property
purchased at auction seek tax advice from
their local tax advisors.

186 JUNKUNC: ARTS OF ANCIENT CHINA