Gold bid prices on Government Luxury Goods Auction

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ATC110

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Is anyone following Wilson's online auction of CAB's proceeds of crime?

There are five one ounce gold bars and the current bid on each is in excess of €1500 to €1575.

The auction opened at 1pm today and ends on Monday.

There is a buyers premium of 20% plus VAT (on the buyers premium) so the total sale price (based upon current bids) will be circa €1930 per ounce bar, higher than today's price from a dealer.

Have bidders not done their research on the market price or factored in the buyers premium?

Am I missing something?
 
Last edited:
I'm subject to correction but I think that 1 ounce gold bars are classified as bullion and not subject to VAT although the salesroom fees are subject to vat.
 
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