Hammer Price
Definition: Hammer price is the winning bid amount for an artwork or object sold at auction, called out by the auctioneer when the gavel falls. It does not include additional costs such as buyer’s premium, taxes, or shipping — all of which are paid by the buyer.
For example, if a lot is hammered down at $50,000 and the buyer’s premium is 25%, the total invoice would be $62,500. The hammer price is also the amount on which seller proceeds and auction records are typically calculated.
In secondary market analysis, hammer price provides a cleaner metric for tracking market value across artists, editions, and time periods.
