SL shop R107 SportLine Zero EV at the NEC tomorrow. A £200k EV conversion for... £50k ?

[Bobby Dazzler]

Sounds entirely reasonable if it’s as good as it looks.

 

[MikeInWimbledon]

I think that's the hammer price though, in which case the buyer actually paid £51,750 (commission at that auction was 15% incl. VAT).

I did double check the video of the auction. Hammer price was £40k.

Auction houses such as Iconic, Bonhams and Historics report total consideration because it becomes a record of "market value."

Doesn't quite make sense because that's £40k plus 12.5%, the buyers commission, with no VAT on the buyer's commission.

It maybe suggests that the Iconic sale wasn't subject to 20% VAT on the buyers commission. Foreign buyer, perhaps?

 

[BTB 500]

It maybe suggests that the Iconic sale wasn't subject to 20% VAT on the buyers commission. Foreign buyer, perhaps?

Good call, that sounds most likely.