Sotheby’s issues an invoice when a sale closes, and full payment is due at that time. When an invoice remains unpaid, interest begins to accrue on the outstanding balance from the date the sale closed. Note that there may also be late collection fees to settle for the property being held in storage.

The interest is calculated at the following annual percentage rates (APR):

• 5% APR for Italy
• 8% APR for Germany and France
• 10% APR for all other countries

For calculation purposes, the applicable APR is converted to a daily rate on invoices. 

All invoices as well as any interest charges or applicable late collection fees will be under My Account and can be settled online.