OXFORD DICTIONARY OF ENGLISH

Item	Example (GBP )
Hammer (Your winning bid)	10.00
VAT 20% on hammer (where applicable)	2.00
Buyer's Premium 25% on hammer	2.50
VAT 20% on buyer's premium	0.50
Total	15.00

Excludes delivery fees and VAT on delivery fees.
All Prices Listed in GBP