In general, all winning bidders are expected to pay for and pick up their purchases within 10 days after the sale. Invoices can be picked up in person on the day of the auction, or will be emailed to the email address listed on your Bidder Registration Form, no later than the day following the sale. All items purchased must be paid for in full, prior to you picking up any item(s) on your invoice. Acceptable forms of payment are: Cash, Cashier’s Check, Wire Transfer, MasterCard, or Visa. Items paid for by Cashier’s Check will be held and not released to the purchaser for 10 business days following the receipt and deposit of the Cashier’s Check, in order to verify correct funding. Please note that if the payment is made by the credit card, there will be a 3% processing fee.
The net Buyer’s Premium for those bidders is as follows:
25% Buyer’s Premium – Live Online Bidders, paying with MasterCard, or Visa
20% Buyer’s Premium – In person, Telephone, or Absentee Bidders, paying with MasterCard, or Visa
20% Buyer’s Premium – In person, Telephone, or Absentee Bidders, paying with Cash, Cashier’s check, or Wire Transfer
6% Sales Tax will be collected on all sales made and delivered within the state of Virginia, from Muses Auction Gallery, located in Fairfax County, Maryland. The State of Maryland Department of Revenue’s Rules require that Sales Tax be charged on the total invoice price including Buyer’s Premium. The buyer will be responsible for any out of state sales tax due on items shipped. Buyers purchasing items for Resale, or Tax Exempt Bidders, are encouraged to provide a current Resale Certificate, or Tax Exempt Certificate, prior to each Auction, so that invoices can be calculated correctly. Sales Tax cannot be removed from an invoice for items purchased in person, picked up in person or shipped within the State of Virginia, without a current Resale or Tax Exempt Certificate.
Reporting of Cash Payments
Reporting Cash Payments, text: In order to comply with the United States, Internal Revenue Service (IRS) and the United States Financial Crimes Enforcement Network (FinCEN) rules, Muses Auction Gallery will file a Form 8300 to report all transactions or related transactions that involve the receipt of Cash or a combination of Cash and a Cashier’s Check, where the total of the Cash or Combination of Cash and Cashier’s Check(s) received in the transaction or related transactions is in excess of $10,000.00. Wire Transfers and Credit Card payments are not considered Cash Transactions. No reporting is required for:
1. Non-Cash transactions such as Wire Transfers and Credit Card payments,
2. Cash and/or Cashier’s Check Transactions of $10,000.00 or less, or
3. transactions where a Cashier’s Check is received in excess of $10,000.00 and Cash received in the transaction or related transactions is $10,000.00 or less.
To accurately complete Form 8300, you will be asked to provide your Taxpayer Identification Number. If you are a nonresident alien individual or a foreign organization that:
1. does not have income effectively connected with the conduct of a United States trade or business,
2. does not have an office or place of business or a fiscal or paying agent in the United States,
3. does not file a United States Federal Income Tax Return,
4. does not furnish a United States Withholding Certificate,
5. does not furnish a Taxpayer Identification Number on any return, statement, or other documents as required by the United States Income Tax Regulations, or
6. if as an individual you have not chosen to file a joint United States Federal Income Tax Return with a spouse who is a United States Citizen or Resident,
then you are not required to provide a Taxpayer Identification Number. However, the transaction must still be reported on Form 8300, the address must be that of the foreign address, and a government issued identification must be provided, such as a Passport.