Please find the conditions of sale governing this auction here:
Buyers Premium
Phillips charges the successful bidder a commission, or buyer?s premium, on the hammer price of each lot sold. The buyer?s premium is payable by the buyer as part of the total purchase price at the following rates: 26% of the hammer price up to and including $600,000, 21% of the portion of the hammer price above $600,000 up to and including $6,000,000 and 14.5% of the portion of the hammer price above $6,000,000.