30 September, 2018

Selling

 

What fees do you charge for selling?

We offer sellers both private and professional a unique opportunity to sell with 0% commission. This means you will always receive 100% of the hammer price.

To list a small number of items in a collective sale then there are no listing fees. In order to host a private auction then there are associated listing fees which will vary depending on the calendar slot you wish to use. 

 

I’ve sold a lot – when will I be paid?

Payments are made to sellers within 14 days of the item being received by the buyer. 

We will release 100% of the hammer price to all vendors after this time which allows us to ensure our customers have received the items and had an opportunity to raise any issues.

We allow this time frame as we value our customer service and want to help our sellers have access to a confident buyer base which we have built through trust and transparency. 

In some cases, including very high value items and some heavy machinery that prompt payment is required, and, in these cases, we recommend the buyer personally collects items to conduct any necessary checks to allow release of funds to the seller. 

 

Can I remove a lot from auction? What penalties are there?

We recognise from time to time, items have to be withdrawn from sale. It is the responsibility of the seller to ensure items listed are available and remain in the condition that they are described. 

If you do have to remove an item from auction, then you should notify the auctioneer ASAP. Assuming any bidding is below the reserve price then there will be no penalties for removing the lot, although efforts should be made to avoid persistently removing items in this way.

In any event, an item cannot be removed from auction once a bid has been placed that meets or exceeds the reserve price. 

It is the seller’s responsibility to check the current bidding status of each lot before taking any action that would require its removal from auction.

Where an item is removed from auction by a seller after any such bid has been placed they will be in breach of the terms of the auction and liable to cover the buyer’s premium for that lot, calculated on the reserve price of the item or the highest bid at the time the auctioneer is notified of its removal, whichever is the greater. 

 

A buyer has questioned a lot I sent them – what happens now?

Please refer to the earlier section Interested in bidding or selling with us?

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