TIMED AUCTION GUIDE
This is an online only auction and as such all items can only be viewed online (photographs) as all items are held off site. The Timed Auction will run for 5 days with a specified start and end time.
Each Lot will be valued with a starting price/reserve and will be only be sold at that starting price/reserve or to the highest bidder at the close.
FEES FOR SELLING:
* £3.00 plus VAT internet fee up to £50.00, non-refundable
* £5.00 plus VAT internet fee over £50.00, non-refundable.
* 15% plus VAT commission on sold Timed Auction items.
* There is no Vendor commission for items that do not sell.
* 1% plus VAT insurance for items if held by PFW.
* There is no insurance charge if the item is NOT held by PFW, the Vendor will be responsible for Insuring the item(s)
* Not sold items can be listed on the online shop after the Timed Auction free of charge.
SELLING ITEMS IN THE TIMED AUCTION
Item(s) can be brought into our showroom (at the vendors’ own cost and prior to the Timed Auction deadline) and held by PFW or, in some cases can be held by the vendor in situ with prior agreement.
If items are delivered to PFW for the Timed Auction, PFW will store them at no cost and place them in the next available Timed Auction.
PFW will catalogue and photograph the items delivered to PFW for the Timed Auction for their inclusion in the next allotted Timed Auction.
The vendor will be given a receipt for all items that are brought into our showroom by the vendor or delivered by courier to PFW. On this receipt, the vendor must provide all contact details, bank details and agree estimates/reserves with PFW. The signed receipt will be binding and serve as a contractual agreement between PFW and the vendor and complies with our current Terms & Conditions. Where a receipt is sent by email (approximately 2 to 3 days before Auction), the vendor must respond and approve by email before the Timed Auction goes Live.
Prior to the auction, PFW will email a pre-sale advice form. It is the responsibility of the vendor to notify PFW by email of any reserves or alterations. If an item does not sell and where the reserve is above the middle estimate PFW will reserve the right to charge a fee(s), as per our Terms & Conditions.
All reserves placed on items going into the Timed Auction must be with PFW before the Timed Auction goes live. Reserves cannot be placed on items once the Timed Auction has started.
Once the Timed Auction has started, items cannot be withdrawn. If the vendor changes their mind regarding selling the item(s) after the Timed Auction has commenced, they will be required to buy the item(s) back in the Timed Auction and will be liable for all costs.
All items held or not held by PFW that do not sell, will receive free entry into our online shop for 3 to 4 weeks. (Separate fees apply where an item is sold in the online shop, please refer to shop fees)
Where item(s) are not held by PFW, but held by the vendor through prior agreement with PFW, the vendor agrees to provide PFW with the following:
* A full description of the item(s) including any defects and overall condition. PFW will use the description provided by the vendor and place the Lot in the next available timed auction.
* Clear photographs of the item(s) at all angles and showing any stamp or maker’s marks, damage etc.
* Provide condition reports when requested.
* A deposit is required for all items not held by PFW. If items are NOT held by PFW, the vendor will pay a fully refundable deposit taken of:
£10.00 for items valued under £50.00
£20.00 for items between £51.00 and £99.00
25% for items over £100.00.
The deposit will be refunded on all items that do not sell, providing that all the Terms & Conditions are met and less the internet fees.
* The vendor must agree to give full and accurate condition reports of the item(s) as requested by a potential buyer.
* In the event of a dispute over misinformation, damage or loss caused by the vendor and where the buyer refuses to pay, PFW have the right to charge for any loss of fees. Please see our Terms & Conditions.
* The vendor must agree that all sold items must be delivered to PFW no later than 24 hours after they have been sold on the Timed Auction. PFW may be able to assist the vendor with this process through an independent courier however, PFW will not accept any responsibility for any loss or damaged goods while in transit.
* Any charges incurred in respect of the above must be dealt with by the vendor directly with the carrier.
* If an item is sold and is being held by the vendor in situ, the vendor must agree to PFW passing their contact details on to the buyer/third party once payment has been made.
After the Timed Auction the vendor will be emailed and notified if their item(s) have sold.
* Unsold items can be placed in the online shop free of charge for a period of up to 4 weeks. (Please refer to shop fees for successful sales)
* Unsold items that do not go into the online shop must be collected within 5 days by the vendor. After this time, items will no longer be insured and storage fees will apply of £2.00 plus VAT per Lot per day. If items are not collected after 30 days PFW are entitled to sell to a third party/charity to clear any fees owed.
* Vendor statements are sent approximately 14-21 days after the end of the Timed Auction
* PFW will endeavour to settle vendor accounts within 14 days after the Timed Auction provided that the item(s) have been paid for by the buyer. PFW will settle all vendor accounts by bank transfer. A cheque can be sent by prior arrangement, however, the vendor will be liable for any charges incurred due to the loss of a cheque.
BUYING ITEMS IN THE TIMED AUCTION
The Timed Auctions are held on PFW and Easy Live Auction websites and each have their separate Terms and Conditions.
Viewing of items in the Timed Auction is online only. Buyers must rely on the Lot description, condition report and photographs. PFW will endeavour to give a full and accurate description of the Lot to the best of their ability and will be happy to provide additional condition reports up to the day of the auction (no further condition reports will be provided once the Timed Auction has commenced).
The Timed Auctions will run for 5 days with a specified start and end time. The successful bidder will be the highest bid left at the close of the Auction.
Each Lot will have an allocated bidding time until the next Lot commences.
Buyers can bid either through PFW's website or Easy Live Auction's website once they have registered.
SELLING INCREMENTS
£1 - £50 = £2
£50 - £200 = £5
£200 - £500 = £10
£500 - £1000 = £20
£1000 - £5000 =£50
£5000 - £10000 = £100
£10,000 - £20,000 = £500
£20,000 - £50,000 = £1,000
£50,000 - £100,000 = £2,000
£100,000 - £200,000 = £5,000
£200,000 above at Auctioneers’ discretion
BUYER’S PREMIUM AND CHARGES
* Buyer’s premium on all Lots 25% (inclusive of VAT) for successful bids made via PFW or Easy Live Auction websites
* Bids can be emailed to sjw@windibank.co.uk – no internet charge
* Bids can be left by phone – no internet charge
* Bids can be left through our website www.windibank.co.uk. – no internet charge
* Bids can be left as an autobid at www.windibank.co.uk - no internet charge
* You can bid live at www.windibank.co.uk – no internet charge
* You can bid live at Easy Live Auction website (fees apply, please refer to Easy Live Aution Terms and Conditions)
* Bids can be left as an autobid at Easy Live Auction website (fees apply, please refer to Easy Live Auction Terms and Conditions)
* There is no telephone bidding available in a Timed Auction
If your bid is successful, you will receive an invoice from PFW. Details on how to make a payment can be found on the invoice.
PAYMENT:
* Payment can be made by bank transfer and via our website through e-commerce.
* You can pay and collect from our showroom and within the allocated time period.
* We will accept most debit and credit cards
* We accept cash payments up to the limit specified each year by the government.
* We can take payments of up to £200 over the telephone and up to £500 via our online payment link attached to the invoices sent out immediately after each sale to successful bidders. These limits are set to protect both the customer and PFW from fraudulent payments.
Any amounts owed that exceed £300 MUST be paid via bank transfer. Unless collecting in person, you may pay cash(up to a maximum of £9,000) orby debit or credit card with no limit.
* All payments must be made within 5 days of the close of the Timed Auction, after 14 days this is deemed a breach of contract and may incur penalties/bans
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