First experience bidding via auction house

CrispySalad

Hi all. I have read these boards for quite a while but never posted before. I am quite a fan of collectables, and usually bid via ebay but after doing some surfing over the weekend I found a particular item I was looking for being offered by an auction house.

I always imagined the process was a bit daunting and I would need to register, but I simply emailed in my bid using their web form and received confirmation back this morning.

The guide price for the item is around £40 less than be best price available on ebay, and my bid is in the middle so it will be interesting to see what happens.

Thought this might possibly be of interest.

:beer:

JC_Derby

Have you figured in Buyers Premium and VAT?

macfly

I don't think it will. The premium is at least 15%. If there is vat, which there may not be, you'll get clobbered.

hermum

Our auction house is 20% premium & VAT is charged on the premium.

macfly

There are things which are not vatable. Second user and some collectables. I don't know the ins and outs, but I've seen it many times.

RFW

macfly wrote: »

There are things which are not vatable. Second user and some collectables. I don't know the ins and outs, but I've seen it many times.

It should be clearly listed by the auctioneer whether it is subject to VAT or not and indeed whether there is a buyer's premium and what percentage that is. There are still a few auctioneers around that don't charge a buyer's premium, sadly not that many.

shaun_from_Africa

"Second user" items are sometimes vattable depending where they come from.
My local auction house holds general sales about every 4-5 weeks, and there are often a couple of hundred items of lost property. (normally from Gatwick and Heathrow airport).
These always have VAT added onto the hammer price due to the fact that VAT may not have been paid on them when originally purchased.

hermum

Ours only seems to charge vat on the 20% premium on the hammer price for used goods, not the hammer price. I don't know about the odd times when they have new items.

RFW

CrispySalad wrote: »

Many thanks for the replies. The guide price is £80-£90, and I've bid £100. Best price currently on ebay is £139.

Hopefully there will not be too much in it, but the auction house also charge £15 p&p.

Well if it has 20% buyer's premium and VAT you could be paying £144 plus £15 p&p.

soolin

I am quite addicted to real auctions and 'real' work permitting visit about 5 different auction houses.

JC_Derby

shaun_from_Africa wrote: »

"Second user" items are sometimes vattable depending where they come from.
My local auction house holds general sales about every 4-5 weeks, and there are often a couple of hundred items of lost property. (normally from Gatwick and Heathrow airport).
These always have VAT added onto the hammer price due to the fact that VAT may not have been paid on them when originally purchased.

interesting john pyes, charge VAT on all the stuff they sell and the majority of that is customer returns....doesnt that class as second user then?