Buying at Auction
Buying at auction couldn’t be easier, whether in person or on the go. Below is a simple guide to get you setup and some of the key information and advice that you need to know.
Registration
Buying in person
All customers require a client registration number before buying or selling in any of our auction rooms.
There is a one off £10.00 charge for a client registration card which can be used at any W&H Peacock, Locke & England or Southams auction when you buy or sell. (If you are looking to purchase in a licensed section of a Southams auction please mention this at point of registration).
You will be required to provide basic information – your name, address, telephone number and email along with one proof of identification such as photo driving licence or a utility bill dated within last 3 months. Please note a passport is not a proof of address.
Registration forms can be downloaded here.
Buying online
We utilise various online platforms which give customers the opportunity to bid via their preferred method. The online platform being used for each sale is shown on the relevant auction listing page.
For most sales we utilise third party platforms such as i-bidder.com; bidspotter.com and the-saleroom.com. Each of these require separate registration and verification before you will be approved to bid in a sale for the first time.
Our new web platforms “Peacocks Live” & “Southams Live” allow customers to register and bid from any of our own websites and utilise the same login details across each. We are currently trialling these platforms and they are therefore not available for every sale.
Viewing
The golden rule for anyone hoping to buy at auction is to thoroughly inspect lots before bidding, as no warranty or guarantee is given. For this reason we strongly encourage all prospective buyers to view in person prior to an auction taking place. Viewing times for each auction are advertised on the relevant auction listing page.
Staff are on hand at all times to offer advice on all aspects of the auction. While every care is taken to provide an accurate description of lots, these are based on a statement of opinion and all items are sold as seen without warranty.
We do offer an image and condition report service by email up to 48 hours prior to sale, however due to the volume of items we are only able to offer this on specialist sales. Buyers are reminded that they must satisfy themselves with the description and condition of the lot before bidding.
Entrance to Southams gun auctions are restricted to catalogue holders only. These can be purchased at the door on view days for £10.
Bidding
Bidding in person
Most people still like to attend the auction and bid in person.
You may think you are the only nervous newcomer in the sale room but there are first time buyers every week and the auctioneers are quite used to helping out novice buyers. The commonly held misconception that if you scratch your ear during a sale you are likely to be landed with something very expensive and unwanted is quite untrue. The unique number on your client registration card not only makes it easier to administer the sale, it also helps you bid clearly.
Bidding online
To bid online you should navigate to the auction listing page to identify which platform your chosen sale is being held on. A link will be provided for you to access the appropriate platform where you can register or sign in if you have previously registered. At this point you can then access and sign up to the relevant sale before it goes live so you are ready to start bidding once the sale starts. Our online bidding page gives further guidance.
Buyers fees
Buyer’s Premium at 17.5 % plus VAT will be added to the hammer price of all lots.
VAT will also be added to the hammer price of lots entered by VAT registered vendors. These items are labelled and also marked in the online and printed catalogue.
Buying online
In addition to the standard fees shown above, the following charges are added to purchases made online:
Clients purchasing in live or timed sales hosted on our own websites will be charged a platform fee of 2.5% plus VAT.
Clients purchasing via i-Bidder or Bidspotter will be charged a platform fee of 3% plus VAT, and the-saleroom.com buyers will be charged a platform fee of 5% plus VAT.
Certain works of art and specialist items may require additional fees to be levied for royalties or licencing purposes. Any such fees will be advised by the auctioneer prior to sale.
Each auction listing page will advise the methods of sale available to use along with the applicable fees payable.
Paying
At the end of the auction, your invoice will be emailed out to you for payment to be made or if you bid in person and don’t wish to purchase anything else you can head down to the office to obtain one straight away and pay.
As per the Auctioneers Conditions of Sale all lots must be paid for on the day of the sale and you may be barred from future auctions if you are unable to comply with this condition.
Payment must be made by either:
- Cash (maximum £8,000)
- Debit card (in person only)
- Direct bank transfer (details on invoice)
Note : We do not accept payments by credit card or any card payments over the telephone.
Collecting
Once you have paid for an item you will be given a stamped copy of your invoice which you will need to show to the porter in the sale room before you are allowed to remove your purchases.
Please always remember that the lots purchased are at your own risk from the fall of the hammer, it is therefore in your own interest to get everything paid and collected as soon as possible.
It should also be noted that the auctioneer reserves the right to charge storage on any items you fail to collect within the collection terms, specific to each auction.
Buyers fees examples
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|
- - - Non-VAT private entry lot - - - |
- - - VAT business entered lot - - - |
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|
|
In person |
Online 1 |
Online 2 |
In person |
Online 1 |
Online 2 |
|
|
Hammer |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
|
|
Hammer VAT |
0.00 |
0.00 |
0.00 |
20.00 |
20.00 |
20.00 |
|
|
BP + VAT |
21.00 |
21.00 |
21.00 |
21.00 |
21.00 |
21.00 |
|
|
Platform fee + VAT |
0.00 |
3.60 |
6.00 |
0.00 |
3.60 |
6.00 |
|
|
|
121.00 |
124.60 |
127.00 |
141.00 |
144.60 |
147.00 |
|
The above table is as a guide only, and does not take account of online platforms at different rates, alternative charges for items such as vehicles or zero rated VAT items.
Please ask if bidding on such items.
The above provides you with the key information you need to know in order to grasp the basics of buying at auction.
We encourage customers to carefully read the full auctioneers’ conditions of sale prior to buying with us.
