AUCTION GUIDE
SELLING AT AUCTION
Items for auction can be brought in to our showroom from Monday to Friday between 9am and 5pm and will be appraised by Simon Windibank (please call beforehand to make an appointment). We will store these items at no cost pending the next available auction.
FEES
Fees for entering an item into auction (following a successful sale)
* 15% plus VAT commission up to £2000 and 10% thereafter with a £6.00 minimum fee
* 1% plus VAT insurance
* £3.00 or £5.00 photograph fee under and over £50.00
* If an item is not sold there is no commission or photograph fee (refer to our Term and Conditions for exclsusions)
When items are brought in, we will issue a receipt, this will require full contact details, a brief description of the item and any estimate or reserve that the vendor would like placed, reserves are not essential. All descriptions and estimates are checked by Simon Windibank and the client will be contacted if he disagrees with the estimate or reserve. Where a receipt is sent by email, the vendor must respond and approve by email before the auction goes Live.
We prefer to pay clients by bank transfer and will request your bank details when you register with us. Cheques can be arranged by prior notification however, please be advised that PFW take no responsibility for loss or damage to cheques and any bank charges relating to the cancellation of cheques will be borne by the vendor.
If you would like your items collected and brought in to PFW, we can pass on details of a recommended removal company, who will arrange viewing, collection and costs directly with you. A receipt of all items will be supplied on collection.
If preferred, you can organise your own removal company, please ensure they have your full contact details and a complete list of all items collected which must be passed to us.
Prior to the auction, PFW will email all vendors with their Lot numbers, a brief description of the item(s), estimates and any reserves that have been requested. At this time vendors must contact PFW if they wish to place a reserve, they must provide the Lot number and the reserve price that they would like to set. All reserves MUST be with PFW before the Auction starts.
It is the responsibility of the vendor to place a reserve on an item, if not, all items are sold without reserve.
For all Lots without reserves, the auctioneer may use his discretion of approximately 20% below the bottom estimate to sell an item.
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
Once the auction has finished, PFW will email all clients with a list of all sold and not sold items.
If you have any not sold items, you are entitled to place them on to our Online Shop (please refer to shop fees).
If you do not want the not sold items to go on the Online Shop, items must be collected within and no later than 10 days after the date of the Auction. All items must be checked when collected by the seller as PFW will not be responsible for item(s) once they have left our premises whether checked or not checked.
After 10 days, uncollected items will no longer be insured and may incur storage fees (please refer to our Terms and Conditions), if still not collected after 30 days, PFW have the right to dispose of the item(s) to the best of their ability to claim back storage fees and any other fees incurred.
If items are withdrawn or higher reserves placed, please refer to PFW Terms & Conditions as fees will apply.
All accounts are settled 14-21 days after the auction as long as your payments have been settled by the buyer.
BUYING AT AUCTION
PFW have approximately 8 auctions a year, these will be live auctions on www.windibank.co.uk and Easyliveauction.com. All auctions are online only and can not be attended. Dates and times are listed on our website.
The auction catalogue will be on the website approximately 10 days prior to the auction.
FEES
25% (inclusive of VAT) buyer’s premium
* If buying on windibank.co.uk there is no internet fee for bidding live, leaving bids, leaving auto bids on windibank.co.uk, bidding by telephone or leaving bids with PFW staff, by email or over the phone.
* If bidding with Easylive there is a £3.00 inclusive of VAT standard charge or a 3% charge – please refer to Easy Live Auction Terms and Conditions
All auctions are held on a Saturday and our showroom is open for viewing on the Wednesday, Thursday and Friday prior to the auction from 10am until 5pm and on the Saturday morning of the sale from 8:15am until 9:30am
PFW will provide condition reports through easyliveauction.com website, windibank.co.uk website or by email.
Once the auction has finished, all successful buyers will receive an invoice. Our bank details can be found at the bottom of the invoice for payment by bank transfer or through the link to pay by e-commerce.
You can also pay and collect your items from PFW's showroom during the auction or Monday to Friday 9am – 5pm and on the first 2 Saturdays following the auction from 10am – 1pm. Please telephone prior to visiting on a Saturday in case we are closed.
PAYMENTS
We can take payments of up to £200 over the telephone and up to £500 via our online payment link attached to the invoices whih will be sent out immediately after each sale to successful bidders. These limits are set to protect both the customer and ourselves from fraudulent payments.
Any amounts owed that exceed £300 MUST be paid via bank transfer. If you are collecting in person, you may pay cash (up to a limit of £9,000 per annum), or card with no limit.
Any Lot(s) not collected within the 10-day period will incur storage charges of £2 per Lot per day, and any items not collected within 30 days may be disposed of by PFW at their discretion and the storage charge will continue until the Lot(s) are disposed of. Please refer to our Terms and Conditions https://windibank.liveauctionservices.com/terms-conditions/
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THE 3 R'S - REASONS TO BUY AND SELL AT AUCTION
Reduce, Recycle, Reuse...................
Sale of Ivory
This Auction we have a few ivory pieces for sale and you will notice that we have included a Submission Reference number in the Lot description. Following on from the Ivory Act of 2018 new Government regulations dated 6 June 2022 mean that if you intend to sell ivory, it must fall below 10% of the total volume or within the approved exempt list and also be registered or certified as exempt. If the item is to be exported, you will need to check if an export permit is required. Currently the cost to apply for exemption is £20 and you will need to provide photos, a description and declare that your item meets the relevant exemption criteria, failure to do this may lead to a significant fine. Full information can be found on the gov.uk/guidance/declare-ivory-you-intend-to-sell-or-hire-out site. The new legislation has had an impact on ivory sales and in many cases, it is not worth paying for the exemption. It is not illegal to own ivory and our advice would be to keep it, give it away as a gift or leave it to someone in your will.
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We're Back!
We just had our third online only auction on 5 September. It went well.
Gold & Diamonds
Expect to see a lot of people walking around dripping with diamonds if recent sales are anything to go by..