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BUYING

It’s easy to find and snap up the antique or contemporary item of your dreams. All it takes is some careful bidding, a little know-how and some luck. Just follow these steps for auction success! 

In PersonAbsentee: 'Commission Bid'Live BiddingOnline Commission BidTelephone BidBuyer's PremiumPayment & CollectionExport Of GoodsConditions of SaleDroit de Suite

In Person

Firstly, you will need to register with Reception before you can start bidding.

- It takes approximately 10 minutes and as auctions get really busy, please leave enough time to complete the process.

- You will be asked for the following information: your name, address, telephone number, email address and a valid credit/debit card. Alternatively you may be asked to leave a cash deposit.

- Once registration is complete, you won’t need to do this again (but please let us know if you have any changes to your personal details). On your second visit, just state your name and show some photo id at reception to get all the relevant documentation you need for the auction.

- Next, a paddle will be handed to you. It’s a card printed with a personal buyer number for you to use in the auction. A different number will be allocated for any future auctions you attend. It is important that you quote this number on any communication with us.

- During the auction, when you wish to bid on an item, just raise the paddle and make the auctioneer aware of your intention.

- Other bidders will do the same thing and they may bid against you.

- The auctioneer will continue to accept bids until all but one of the bidders drops out.

Absentee: 'Commission Bid'

If you can’t attend the auction there are several options available to you. One of them is to leave an ‘absentee bid’.

This enables you to leave a price value that the auctioneer and the salesroom clerk can bid up to, on your behalf, during the auction. They will always try to secure the item for the lowest price possible.

It’s good to know that if two bids of equal value are received, preference is given to the bid that arrives first. Preference is also given to bids left directly with Lots Road Auctions over those left with the-saleroom.com. A top tip is to leave an amount that doesn’t end in a zero or five.

i.e.     £203 instead of £200

If you are willing to be flexible about the price you pay for a lot, try using a maximum of three + symbols for each 10% increase you are willing to go up to.

i.e.     £300+    = £330
          £300++  = £360

NB: a lot won’t be sold for less than 50% of the highest ‘absentee bid’, e.g. A £300 ‘commission bid’ means a lot will not be sold for less than £150.

Live Bidding

Through our online partner, The Saleroom, you can now place ‘absentee bids’ from 6pm every Thursday or live bids whilst the auction is taking place.

Follow these steps for a smooth bidding experience:

-    You will need to register on The Saleroom site and then register to bid in the Lots Road Auctions listing (under Current Auctions).

-    As soon as you’ve received confirmation of your registration you can leave a commission bid or live bid when the lots comes up for auction.

Useful Information
-    Leave plenty of time to register for the auction.

-    Absentee bids are available up to one hour before the start of the auction.

-    There is an added 3% + VAT surcharge added on all successful internet bid sales.

-    Lots Road Auction’s standard Terms & Conditions apply.

Online Commission Bid (available from 6pm each Thursday)

It couldn’t be simpler to leave an online commission bid.

Just go to our online catalogue and click ‘Leave an Absentee/Commission Bid’ tab against the lot you want to bid on.

If you are already registered, just enter your user name and password, which will allow you to place the commission bid.

First time buyers will need to register and provide full contact details before they can place a bid. You will then receive a confirmation email.

Useful Information

- Any changes or cancellations to commission bids needs to be made before 11am on the day of the auction.

- Check online commission bids by going to ‘My Profile - My Bids’. You can also amend or delete bids from that page too.

- Personal details can be changed by going to the ‘My Details’ page and amending the relevant contact information.

- If you bid successfully you will be contacted by phone to confirm collection and payment. An email will be sent to any bidder we have been unable to reach.

 - Auction results will be available to view from 7pm on Sunday evening.

Important information

- All lots must be paid for and collected by 1pm on the Tuesday after the auction.

- Storage charges will be incurred after this time at a rate of £20 + VAT per day, per lot.

- All online commission bidding closes at 11am on the day of the auction. No bids will be accepted after this time. If any changes or cancellations to bids are required then please call us on 020 7376 6800.

Telephone Bid

A telephone bid is a free-of-charge bidding service, available on lots with a minimum estimate of £400-500.

A member of staff will call the buyer and relay the bids to the auctioneer during the bidding of the desired lot. Please respond quickly and clearly so our staff member can do the best possible job they can for you. The auctioneer’s hammer can come down very quickly and once down the sale of that lot is over.

Useful Information
-    There is a maximum of five live telephone bids per lot. Early booking is advised!

-    A member of staff will call the buyer approximately five lots ahead of the intended lot. Be sure to provide a contact number you can be reached on at all times.

-    Telephone lines and mobile phone reception aren’t 100% reliable. All telephone bidders are asked to provide two telephone numbers, plus a covering bid. It means that the auction clerk can bid on the buyer’s behalf in the event of a communication failure.

 

Buyer's Premium

The buyer's premium is a percentage the buyer pays in addition to the hammerprice.

The current premium is 20% on all lots + VAT (24% including VAT).

There is an additional charge of 3% + VAT when successfully bidding via the saleroom.

Payment & Collection

Lots can be paid for during and after the auction, with the following methods:

-    Cash
-    Debit cards (Switch, Connect, Delta, etc.) + £1.67 surcharge + VAT
-    Bank transfer (preferred):
Bank: HSBC, Pall Mall, SW1Y
Acc Name: Lots Road Auctions
Sort code: 40 05 20
Acc Number: 0137 3870
IBAN: GB81MIDL 40052001373870
Swift Code: MIDL GB22

Please use your Buyer reference and auction date as the payment reference and contact cashiers@lotsroad.com to inform us of the payment.

-    Credit cards + 2.5% surcharge + VAT
-    American Express + 3.5% surcharge + VAT

Please be aware that further ID on some credit card transactions may be required.
All overseas Debit Cards will be charged as a Credit Card with the 2.5% surcharge + VAT.

Collection
Lots must be paid for and collected by 1pm on Tuesday.
We recommend Callaghan & Newbury to arrange for larger items to be transported. A representative will be in the showroom on the day of the auction. Bill Callaghan: 07903 299810 and Terry Newbury: 07794 751445.

National & International Carriers



Storage
If lots aren’t collected by Tuesday 1pm, a storage charge of £20 + VAT per lot per day will incur.

Export Of Goods

As you may be aware several countries prohibit the importation of property containing materials from endangered species, such as rhino horn, ivory, animal skin, coral and tortoiseshell. If you are interested in bidding on a lot containing these materials and you wish to export please make sure you are familiar with all relevant customs regulations prior to bidding: Animal and Plant Health Agency.

It is the buyers’ sole responsibility to obtain any relevant export or import licences.

Conditions of Sale

  1. The highest bidder to be the buyer. If any dispute arises the Auctioneers shall have absolute discretion to settle it and put any disputed lot up again for auction.
  2. All buyers are deemed to have read and understood our methods of payment, as outlined in the back of the catalogue and under 'Payment/Collection/Storage'.
  3. All buyers' accounts are to be settled within 24 hours. Successful commission bidders will be contacted Sunday on the telephone number/s provided to confirm collection details.
  4. Buyer's premium 20% excluding VAT payable on all lots (24% including VAT).
  5. Lots marked with an asterisk* in the catalogue denote that 20% VAT is payable on top of the hammer price.
  6. Certain works by living artists (or the estates of if deceased within 70 years), will incur an Artist's Resale Right royalty charge of 4%, when sold with a hammer price of €1000 (approx. £800) or more. Artist's Resale Right royalties are not subject to VAT.
  7. All lots are put up for auction subject to any reserved price imposed by the vendor.
  8. Ownership of the offered lot shall pass to the buyer upon the fall of the auctioneer's hammer when the auctioneer announces that the lot has been sold, from which point the buyer shall assume full risk and responsibility for the lot. The buyers to give in their names and addresses and if requested to pay down 50p in the pound in part payment of the purchase money: in default of which the lot or lots purchased may be immediately put up again and re-sold.
  9. All lots are sold as shown with all faults, imperfections and errors of description or of genuineness of authenticity. Electrical items are untested. Messrs. Lots Road Auctions makes no warranty whatsoever. See (10).
  10. The lots to be taken away at the buyer's risk and expense, not later than 1pm on the Tuesday after the sale; in default of which Messrs. Lots Road Auctions will not hold themselves responsible if the same are lost, stolen, damaged or otherwise destroyed. They will be left at the sole risk of the purchaser, and subject to a storage charge of £20 per lot per day (+ VAT). If at the expiration of the two days after the conclusion of the sale (unless otherwise agreed), the lots are not cleared and/or paid for, they may be sold immediately, either publicly or by private treaty, without notice being given to the defaulters.
  11. It is the buyers' responsibility to measure any item to ensure that it can be accommodated in its' intended location. All buyers must check their purchases before the lots leave the building. Lots Road Auctions will accept no claims for loss or damage thereafter.
  12. Upon failure of the buyer to comply with any of the above conditions, the money deposited in part payment shall be forfeited; and the defaulter shall make good any loss arising from the resale, together with the charges and expenses in respect to both sales.
  13. Care is taken to ensure that any statement as to authorship, attribution, origin, date, age, provenance and condition is reliable and accurate but all statements are statements of opinion and are not to be taken as statements or representations of fact. The Auctioneers reserve the right in the forming their opinion to consult and rely upon the expert opinion or Authority reasonably considered by them to be reliable.
  14. Purchases may be cleared (after payment) during the auction with the aid of the porters.
  15. Written bids (“Absentee Bids”) shall be taken and carried out for the convenience of the bidders. Messrs. Lots Road Auctions shall not be responsible for failing to execute such bids or errors relating to the execution of such bids. Bids will be executed as cheaply as is permitted by other bids or reserves, but will not be sold, for less than 50%, of the highest "Commission Bid" left.

Live telephone bids will only be accepted on lots with an estimate of £500 upwards. Telephone bids on lots of a lower value may be accepted at our discretion. Live Telephone Bids are subject to a “failure to communicate”, it is better to be in the room or leave a bid.

N.B. We are unable to provide a packing service and only hold a minimal amount of packing material.

Droit de Suite

An item marked as subject to Artists Resale Rights (Droit de Suite) means a royalty charge for the artist will be applied. This affects artworks of living artists and to those who have died in the last 70 years, from applicable countries. An artwork must sell for over 1,000 euros (the equivalent pounds sterling), to qualify and is charged at 4% of the hammer price. For further information go to DACS and ACS.

Lots Road Auctions will collect the royalty from the buyer, at the point of payment, for any qualifying works of art.

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