Cost of importing Purchase at Rory Gallagher Auction

R

Roryfan

New Member
Messages
3
Hi,

I purchased an item at the Rory Gallagher UK Bonham's Online Auction last week that I would like to import to Ireland and I am trying to work out the eventual EUR cost. I have posted the calcs below based on a £2,000 Hammer Price. I have checked the revenue site and just want to make sure I have it correct. Appreciate if anyone can review and advise.

Rory Gallagher Auction
Hammer Price
2000​
GBP
Buyers Premium 28%
28%​
560​
GBP
UK Vat on Premium 20%
20%​
112​
GBP
Shipping Cost
300​
GBP
Sub Total
2972​
GBP
EURGBP Exchange Rate
0.82​
3624.39​
EUR
Customs Duty
12%​
434.93​
EUR
Sub Total
4059.32​
EUR
Irish Vat
23%​
933.64​
EUR
Total
4992.96​
EUR

Additional Question, if I was to donate this item to a museum etc down the line, would I be able to reclaim some or all of the VAT back?

Thanks,
Roryfan
 
www.museum.ie

Donate an Artefact | National Museum of Ireland

Welcome to the National Museum of Ireland in Dublin & Castlebar covering Archaeology, Decorative Arts, Folk & Country Life, & Natural History.FREE Exhibitions
www.museum.ie www.museum.ie


Under Section 1003 of the Taxes Consolidation Act 1997 you may donate a heritage item to the National Museum of Ireland and claim a credit of 80% of the value of the item against your liabilities for certain Irish taxes. The taxes covered by the relief are Income Tax, Corporation Tax, Capital Gains Tax, Gift Tax and Inheritance Tax.

You should know that to avail of this scheme the open market value of the item/collection of items must be at least €150,000 and in the case of a collection, at least one item in the collection must have a minimum value of €50,000.

If you would like further information regarding the scheme, please contact us.

You can also download more information:

 
Thanks for the reply and the information. My item wouldn't fit into either of those cost buckets by a long shot so that won't be applicable.
Appreciate the info though.
 
If you tell Bonhams that you are not UK resident, they should not charge you VAT on the hammer price.

They will insist that you use one of their shippers though.

I don't know the customs duty or VAT rate on second hand guitars.

But if it's a work of art, there will be no customs duty and 13.5% VAT.

Brendan
 
Thanks Brendan, The UK Vat is on the Buyers Premium only as opposed to the whole Hammer price. So a much smaller factor in terms or price. I have already paid the invoice including the UK VAT. But I guess I could request a refund.

Thanks for that info. Would it be worth contacting the revenue to ask about whether it would be considered a work of art?
That's certainly how I could view the Collection especially as the '61 Stratocaster is going to the National Museum.
 
Roryfan said:
That's certainly how I could view the Collection especially as the '61 Stratocaster is going to the National Museum.
Click to expand...
Just because it's going there does not automatically make it a work of art, they would not define much of their collection as such.
 
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