Selling at Auction
The first step in the process is to establish a mutually acceptable estimate and reserve-price. Our valuers will expertly examine your item(s) and advise you, based upon current market trends as to the most appropriate estimate and reserve price. The reserve figure is not disclosed to bidders and it is the price below which we would not sell an item(s). We do not place reserves higher than the lower estimate figure. Estimates are published in our catalogue as a guide to buyers.
Item(s) left in our care will be listed on a receipt and arrangements made for their inclusion in the next appropriate auction. We will discuss dates of forthcoming auctions with you at the point of receipting, forthcoming sale dates are also listed on our website. The pieces will then be catalogued by one of our valuers and our in-house photographer will photograph them. The lot(s) will be expertly arranged in our saleroom and available to view from the Saturday prior to the sale date. We will arrange for the production of a catalogue which will be distributed to our client base and available for purchase. The sale will also be available on-line ten days prior to the auction. All lots offered in our sales are illustrated on-line, some of these images are also reproduced in our catalogue.
We charge a commission fee of 12.5%, in addition to this basic charge there is a lotting fee of £5 and an insurance fee of 1.5%. Lots illustrated in our catalogue would be subject to a fee of £25 per image, our expert staff would discuss this further with you when the item(s) are consigned. All our charges are subject to VAT. Payments are normally made by BACS transfer, our payment terms are 28 days following the sale date providing payment from the purchaser has been received. Payments by cheque can be made by prior agreement.
Lot(s) that fail to reach their reserve will remain unsold. The lotting fee will be charged in these circumstances however there are no further fees to pay. We will discuss unsold lot(s) with their owners and where appropriate re-offer these in a subsequent auction at a reduced estimate and reserve. If the lot were subject to an after-sale offer we would only revert to the vendor when this offer falls below the agreed reserve. Unsold lots that are not to be re-offered should be removed from the saleroom within ten working days of the auction. Lots remain in the saleroom after this period will be subject to a storage fee of £2 per (plus VAT) lot per day. Lots left for a period in excess of three months will be sold.