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Buying at Auction

How it Works:

AUCTION CATALOGUE - Lot(s) submitted for sale with Auction Xchange are entered into the weekly Tuesday ONLINE Timed Auction. You can place your "maximum bid" any time while browsing the catalogue &/or bid in real-time during Tuesdays ONLINE Timed Auction.

BUY NOW CATALOGUE - any Lots unsold at Auction, are available to Bid on to Buy Now @ their Reserve; if you bid on the Lot at the published Reserve, it will be added to your CART, where you are required to transact to secure the Lot OR if you bid on a Lot below the published Reserve, your bid will be registered for a future weekly Tuesday ONLINE Timed Auction (if the Lot remains unsold).

Buyers Guide:

1. View Lot(s) Thoroughly

Auction entries are sourced from liquidators; distributors; corporate & private sellers including interiors, office; catering & much more. Note: this is a Public Auction & NOT a consumer or retail sale. Lots include: unused, ex-display, returns, second-hand & damaged property which are SOLD AS SEEN with NO guarantees, warranties or returns, which is why Public Viewing is available & recommended.

Certain Lots may have condition indicative grading to assist assessing the physical appearance of the Lot - this is a subjective opinion which is why Public Viewing is available 6 days a week and recommended.

 

2. Register to Bid

In order to Bid & therefore Buy @ Auction Xchange, you are required to REGISTER online (no deposit or financial details required). This process is completed once, so if you have previously placed a bid you already have a user account and allocated Buyer #

Register or Login online to place bids and participate in the Online Timed Auctions. When logged in you can track your bids, watch list, sales, Cart, receipts, etc. via your user account dashboard.

 

 

3. Watch List

All Lots display the WATCH symbol, if you click on same, the Lot will be added to your unique watch list / personal Lot catalogue.

 

 

 

 

4. Commission Fees

A Total Cost Calculation is displayed on every Lot prior to Placing a Bid. Buyers will be required to pay commission Per Lot on the hammer price at a rate of 20% +VAT [24.6%] or a minimum commission of €5.00 [€4.07+VAT] Per Lot.

Example - Lot Auctioned: Asset VAT "N/A"

No VAT on the hammer price applies:

Hammer Price €100.00
Commission Fee €20.00 (€100*20%)
Commission VAT €4.60 (€20*23%)
Total Due €124.60

Example - Lot Auctioned: Asset VAT "23%"

VAT on the hammer price applies:

Hammer Price €100.00
Hammer VAT €23.00 (€100*23%)
Commission Fee €20.00 (€100*20%)
Commission VAT €4.60 (€20*23%)
Total Due €147.60

5. 18.30 Tuesday Timed Online Auction

You can place your "maximum bid" any time while browsing the catalogue &/or bid in real-time during Tuesdays Online Timed Auction. Each Lot will timeout in 1 minute intervals with the first lot ending at 18:30 on Auction Tuesday. If a bid is submitted within the final minute of the timeout period, the timer will automatically reset to 1 minute to facilitate any bidder time to place a competing bid. NOTE: it is not advised to wait until the final seconds of the timeout period to place a bid as network, wifi or other potential connection issues may result in your Bid not being registered before the Lot times out.

If you place you Maximum Bid the system will bid on your behalf as outlined in the below example:

If you place a Maximum Bid the system will Bid on your behalf, for example:
Lot RESERVE: €80:
Bidder A places a Max Bid of €40, Bidder A is now registered as the highest Current Bid at €40;
Bidder B places a Max Bid of €60, Bidder B is now registered as the highest Current Bid at €60;
Bidder A places a Max Bid of €200, Bidder A is now registered as the highest Current Bid at €80;
Bidder B places a Max Bid of €240, Bidder B is now registered as the highest Current Bid at €210;

Reserve Bid Increments
< €25 (less than) €2.50
< €50 (less than) €5
< €250 (less than) €10
< €500 (less than) €15
< €1,000 (less than) €25
> €1,000 (greater than) €50


6. CART / Online Payment

All successful Bids are added to your CART to transact to secure same. Buy Now Lots can be added to your CART by placing bids at the published Reserves.

Login & transact a Non-Refundable Deposit [24.6% of the Hammer Price] by 7.00pm Wednesday to secure the Lot(s). On collection, you can view the Lot(s) and Pay the balance OR forfeit your Non-Refundable Deposit.

Payment methods: Bank Card online. NOTE: Auction Xchange is Cashless - No Cash is accepted in-store; Cheques are NOT accepted.

 

 

7. Storage

Collection is required 5 days after the Sale Date, thereafter Storage Charges apply at a rate of €6.15 [€5.00+VAT] Per Pallet Per Day (minimum one pallet, applicable 7 days of the week).

 

 

 

 

8. Collection

You can collect in person or by sending a courier. Recommended third party transportation providers are listed & viewable by clicking here: Recomended Couriers.

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