The phrase "hammer price" refers to the final amount of money a buyer pays for an item at an auction. It is the winning bid announced by the auctioneer as they strike the hammer on the auction podium. Full definition
VAT rate of 5 % is payable on hammer price and at 20 % on the buyer's premium. (christies.com)
The total hammer price, which included the buyer premium and all fees came to just north of $ 84 million and thus set a new world auction record for the artist. (galleryintell.com)
Andy Warhol's Marilyn (Reversal) led the way, with hammer price of almost $ 2 million. (widewalls.ch)