Selling At Auction
~ No new lot entries at this time ~
Dates for consigning goods TBC
16.5% +VAT (19.8%) will be taken from the hammer price when an item is sold.
£2 + VAT lotting fee for each sold lot, no lotting fee for unsold items.
1% Insurance fee on all lots sold or unsold (1% of hammer price if sold, or 1% of reserve price or Auctioneers valuation if unsold - all subject to VAT).
Here is a simplified list of what you should expect to receive based on hammer price.
Settlement is normally made to a Vendor approximately 21 days after the sale. Accounts can be settled in Cheque or Bank Transfer. Cheques are posted to the address you registered with us when you consigned your goods. Bank transfers are completed via the bank account you registered with us when consigning your goods. The Auctioneers act as agents only and as such are in no way liable for any default in payment by the purchaser. The Auctioneers will pay the net proceeds of the sale to the vendor provided that the Auctioneers have been paid by the purchaser. The Auctioneers shall be entitled to withhold or off-set any liability of the vendor to the Auctioneers on any account against the sale proceeds otherwise due to the vendor.
You will receive pre-sale advice a few days before the auction via email which will outline reserves if applied.
Any changes you wish to make must be given to us 24 hours prior to the start of the sale in writing (email). There will be no firm reserves set on any item below £20 unless the auctioneer deems it appropriate. Any lot sold without reserve will be subject to a minimum bid of £5.
Auctioneers discretion will be in place on all reserves unless otherwise stated in writing (email for these purposes will be considered a form of "in writing")
The auctioneers discretion will take the form of a maximum of 2 bid increments below the current suggested reserve (i.e. Reserve at £20 will be £15 with A.D. or £500 will be £450) rather than the more common 10%.
INSURANCE OF GOODS
Unless otherwise instructed in writing there will be an additional 1% + VAT* added to all items to cover insurance on all lots offered. Insurance is charged on the hammer price if it sells or on the reserve price if it doesn't. Insurance will be charged on accounts that are in credit only. This insures each lot against burglary, fire and water damage, theft and accidental breakage. Any claim arising will be processed by the Auctioneers based on their estimation of the figure that the piece would have realised during the sale. The auctioneers’ shall in no way be liable for any goods which the vendor has exempted from the insurance charge.
* 1% + VAT will be charged on all unsold items on which there had been a reserve placed.
No charges will be made to the Vendor against unsold lots except for insurance on an account that is in credit.
Lots will be automatically re-offered in the next sale unless collected within the 3 days following the sale.
All unsold lots must be removed or have had arrangements made for storage within 3 consecutive days of the sale. Any item not collected nor with arrangements for storage made after this point will be offered in the next sale with a potential minimum bid of £5, if deemed by the auctioneer to be of low value.
If a reserve was previously in place on the goods it will be offered with a 50% reduction in the reserve price or may be grouped together with any unsold lots at the auctioneers discretion.
If lots remain after being re-offered the charges may well be made against the vendors account for disposal.
By consigning items with us you agree to all these terms and conditions.
The vendor on consigning electrical items with us agrees to have the item sold as scrap with no guarantee for it to be in working condition regardless of the condition of the item. Items with plugs will either have them removed or the item will be PAT tested at the vendors expense whichever they decide after consulting with us.
Item price £100 - 16.5% + VAT
(£16.50 + £3.30= £19.80)
- 1% insurance +VAT (£1.20)
- £2 lotting fee + VAT (£2.40)