Buying items at a collectables auction may appear to be a bit daunting, but placing a bid is actually very simple.
Here at Warwick & Warwick, our auctioneers are vastly experienced and conduct each sale at a steady pace so that bidding is made as simple as possible.
Once you have studied the catalogue and made a shortlist of items of interest, you can attend the sale in person or send your bids by email, fax, phone, post or by using our online bidding facility.
All of our sales are public auction and if you are unable to attend in person, we will bid on your behalf in the sale as though you were present in the room.
Whichever way you choose to get involved, here are a few tips for you to follow:
SET A MAXIMUM BID
When buying from a collectables auction, it’s always a good idea to decide the maximum amount you are prepared to pay for all the lots you are interested in.
If you ask us to bid on your behalf, we guarantee that we will purchase items at the lowest possible price, as if you were bidding in the room yourself.
GET YOUR BID IN EARLY
In the event of two or more identical bids being received for the same lot, the one which was received earliest will prevail.
CHECK YOUR BID
Whatever method you choose to lodge a bid; it is vitally important to check that it is correct because the auctioneers cannot accept responsibility for any errors you make.
UPPING YOUR BID
The following bidding increments will be used: below £20 - £1 steps; £20 to £50 - £2 steps; £50 to £100 - £5 steps; £100 to £500 - £10 steps; £500 to £1,000 - £25 steps; £1,000 to £2,000 - £50 steps; £2,000 to £5,000 - £100 steps; £5,000 to £10,000 - £250 steps; £10,000 to £20,000 - £500 steps; above £20,000 - £1000 steps. Bids submitted not corresponding to a bid step will be rounded down to the nearest step.
CHOOSE THE BEST WAY TO PAY
Our preferred method of payment is by online Faster Payment: Warwick & Warwick Ltd, Lloyds Bank, Sort code: 30-91-92, Account number 01124493. Invoices under £500 may be settled by Visa/Mastercard over the telephone on 01244 408980. We aim to despatch lots within several days of receiving payment. Account settlement may also be made by cheque. Please allow seven days for clearance.
PAY IN POUNDS
All bids placed must be in £ sterling.
DON’T FORGET THE BUYERS’ PREMIUM TAX
All successful bids are subject to a buyers’ premium of 20% plus VAT, and will be invoiced at 24% inclusive of VAT. Where Warwick and Warwick export the lot to a country outside the European Union, the VAT on the buyers’ premium will not be charged.
PAY YOUR VAT
Lots with a T prefix are subject to VAT at 20% on the hammer price and on the buyers’ premium. Where Warwick and Warwick export the lot to a country outside the UK, VAT will not be charged. All other lots, with the exception of Investment Gold Coins are sold under the Auctioneers VAT Margin Scheme and are not subject to VAT on the hammer price. The buyers’ premium will be invoiced at 24% inclusive of VAT. If we export the lot to a country which is outside the UK, VAT on the buyers’ premium will not be charged.
HANDLE COINS WITH CARE
When buying investment gold coins from a collectables auction, HMRC requires us to obtain the following information from purchasers of any of these lots: Name; date of birth; current address; telephone number (if available). In order to verify this information, we are required to examine one original document from each of the following lists:
List 1: Passport; full driving licence; National Insurance card; birth certificate; national identity card; hotel key card (non UK residents only).
List 2: Telephone bill; other utility bill; deeds; tenancy lease; council tax bill.
Unfortunately, we regret we are unable to accept bids on these lots from anyone who has not submitted the necessary original documents before the day of the sale. The hammer price on these lots is exempt from VAT, but VAT is charged on the buyers’ premium. As Investment Gold Coins are not eligible for the Auctioneers VAT Margin Scheme, this VAT will be itemised on the invoice.
SORRY, NO BIDS FROM KIDS
Bids from minors are not accepted.
STAMP YOUR AUTHORITY
All lots in our stamp auctions are offered subject to the Philatelic Auctioneers’ Standard Terms and Conditions of Sale (1985 revision).
ARRANGE FOR DELIVERY
Unless instructions have otherwise been received before the sale, all lots will be despatched by Warwick and Warwick by the most appropriate means. Any carriage and import charges are at the expense of the buyer.
If you’d like to discover the items which are for sale in our latest collectables auctions, browse our Online Catalogues now! To discuss placing a bid, please call 01926 499031 and enlist the help of our experts.