Are there any additional fees on top of the hammer price?

Yes, there are additional fees applicable on top of the hammer price at Sotheby's. These fees include the buyer's premium, which is a percentage added to the hammer price and is payable by the buyer. The buyer's premium varies depending on the category of the item being auctioned, typically ranging from 12% to 25%. Additionally, there might be applicable taxes, such as sales tax or value-added tax, depending on the location and nature of the sale. These fees are separate from the hammer price and are not included in the final bid amount. It is important for potential buyers to familiarize themselves with these additional fees to accurately determine the total cost of purchasing an item at Sotheby's auctions.