A NEW APPROACH IN AN AGE OLD BUSINESS

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Buying at a Live Online Auction

Buyers guide - May 2020 Live online auction

Our live online auctions will take place on one day, however, they will be 'closed' to the public. This means that our auctioneer will be streamed online and you can watch via our website and bid in real time via three methods; on the telephone, via a commission bid (pre-bid) or online with our partners Proxibid.

All bids are final and non-revocable.

Booking a viewing

You can now book a one to one appointment (up to one hour) to view the lots at our central location. Please contact the member of staff associated with the lot to secure your appointment. The health and safety of both our customers and team remains the utmost priority, we are therefore operating to strict COVID-19 guidelines and full instructions will be given when making your appointment. 

Telephone bidding and commission bidding

A commission bid is the maximum amount you are willing to bid up to (excluding the buyers premium and VAT). We will execute your bid as low as possible on your behalf.

Telephone bidding will still allow you to bid live. On the day of the sale a member of the Silverstone Auctions team will contact you, usually a few lots prior to your selected lots, and will guide you through the process. You can also leave a commission bid in the event that we are unable to contact you by telephone.

To register a bid against a lot on the website, select the lot and using the Lot Tools on the right hand side of the page, select the "Bid on this lot" link. You will be able to select whether to leave a telephone bid or a commission bid.

Alternatively, please download the form below, complete it and send it back to bid@silverstoneauctions.com

Adobe PDF Logo

Telephone / Commission Bidder Form 

 

To complete your telephone and commission bidder registration and comply with money laundering legislation you will need to provide TWO forms of ID to our secure portal via the following link, bank details are not required for bidder registration.

https://secureportal.silverstoneauctions.com/

Online Bidding

Silverstone Auctions has partnered with Proxibid and The Saleroom to allow you to bid live or leave a commission bid (or pre-bid) online.

Please note - online bidding incurs an additional fee of 1% plus VAT for motor vehicles and 1% plus VAT for automobillia.

Charges

Like all classic car auctioneers, Silverstone Auctions charge what is known as a buyer's premium. Our buyer's premium charge for live online auctions is 10% of the hammer price for motor vehicles and automobilia. Buyer's premium is subject to VAT at the prevailing rate on the day of the auction. 

Payment

All payments are due by 5pm the next working day following the sale.  

Payments must be made in GBP via bank transfer.

Bank transfers made over the weekend will not show in our bank account until the Monday morning.

Lots purchased can only be released upon receipt of funds. You should ensure that you have the necessary monies available and are able to pay before you bid.

We are unable to accept funds from countries on the Financial Action Task Force High Risk and Non-Cooperative Jurisdiction Lists.

Motor vehicle collection

Motor vehicles can be collected from our central location from the Wednesday following the sale. Buyers should satisfy themselves that they have all relevant spares, documents and keys relating to their lot(s) at time of collection. Lots not collected by the Friday following the auction will be charged a storage fee of £30 + VAT per week.  

Our transport partners, EM Rogers, can assist with collection and delivery. Please contact them on 01604 755511 for a quote.

Written instruction from buyers must be provided if they wish their lot(s) to be collected by an agent.

The health and safety of both our customers and team remains the utmost priority.  We will be operating to strict COVID-19 guidelines during collection and therefore you will need to book a two hour collection slot with our team in advance.  

Terms and conditions

This guide should be read in conjunction with our full terms and conditions for live online auctions

How fast will the auctioneer go?

The auctioneer will aim to sell approximately 25 – 30 vehicles per hour.

Provisional sales

Occasionally a car may be sold under a “provisional bid” if your final bid does not reach the reserve price. A provisional bid stands until 12pm the day following the auction. During this time we will contact the seller on your behalf to see if they will accept your bid or try to negotiate a sale on your behalf.

Warranties

All lots are sold on an 'as seen' basis. You may wish to bring a competent mechanic with you to inspect any motor vehicles on your behalf. The catalogue will describe the lots to the best of our ability on information supplied. You should, however, satisfy yourself as to the condition, age, and integrity of any lot prior to bidding as no warranties whatsoever are given in relation to any lot.

Once the auctioneer drops the hammer a contract is formed, and you are obligated to proceed with the purchase. It is therefore vital that you are satisfied with the condition of the lot you intend to bid upon before doing so.

VAT

We operate the Auctioneers Margin scheme. VAT charged on the buyer's premium cannot be shown separately on the invoice and cannot be reclaimed by the buyer.

Insurance

All purchases are at Buyers risk from the fall of the hammer.  You should therefore arrange insurance from this point.

Registration documentation

All V5c’s are taken back to the office and the change of ownership registered with the DVLA on your behalf by our admin team.

Please note that following a change to legislation in 2014, road tax no longer transfers to the new owner. You will need to tax the vehicle before driving it on the road.