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Arrivals are Lotted and a Letter of Engagement is emailed detailing a list of the entries received and the initial reserves applied. Lot(s) are displayed in our showroom, uploaded on our website, proactively published on our auction catalogue and sent out to our 50k multi-medium online buyer database for the next weekly: 6.30PM Tuesday Timed Online Auction. These Lot(s) are sold in Auction at their initial reserve or higher; any unsold Lot(s) convert to the Buy Now @ Reserve' catalogue for a 4 week period; any remaining unsold Lot(s) post the Buy Now period are re-entered into the next Tuesday Timed Online Auction with a lower or No Reserve; No Entry; Exit or Storage Fees apply. Sellers can login online to transparently track: Lot(s) currently for sale; current live bids; sold Lot(s); request payment; view & print seller receipts. Hammer Sales are subject to a selling commission of 15% +23%VAT (18.45%), therefore our mission is the same as yours - to achieve the highest hammer price, as our fee is commission based. This transparent, competitive bidding Auction Xchange sales process maximises market value realisations.
1. Auction Entries
Auction Xchange accepts a wide variety of items for auction including: Residential: interior decoration; furniture; art; leisure equipment; garden; etc. Commercial: excess stock; office furniture; catering equipment; business equipment, liquidation assets, etc.
TEXT or WHATSAPP images of your items to: 0831587298 o EMAIL to: email@example.com & we will contact you with a no obligation assessment of your items & collection/delivery options. Auction Xchange has sole discretion with all entries and do not accept items that are unsaleable. Identification in the form of drivers licence/passport or company VAT # will be required to enter items for auction accompanies by a signed Letter of Engagement.
If you need assistance with collection of your items, please click here to view the Recommended Couriers page.
In given circumstances collection costs can be deducted from the auction sales proceeds, after the Lot(s) are sold therefore no upfront payment would be required to deliver & enter item(s) for auction.
3. Items are Lotted
Sellers register directly online on the website.
Auction Xchange will email the Seller a Letter of Engagement (LOE) detailing each item entered for auction assigning a Lot number, recording a description and setting an initial reserve (subject to review). Sellers can login online to transparently track: Lot(s) currently for sale; current live bids; sold Lot(s); request payment; and view & print seller receipts.
4. Setting a Reserve
A reserve price means that your lot(s) will not be sold unless bidding meets or exceeds the reserve price you set. Reserve pricing will initially be provided based on previous sale prices achieved and is subject to Seller review.
Lot(s) are immediately published in the online catalogues on the Auction Xchange website. Auctions are advertised in advance of the sale day, utilising our comprehensive national and international database alongside targeted internet advertising over multiple online platforms. The Timed Online Auctions take place weekly every Tuesday commencing at 6.30PM.
The showroom is open to the public for viewing 6 days a week. Providing prospective bidders the time to viiew any Lot(s) they wish to bid on in advance of the Timed Online Auction.
7. Commission Structure
Sellers are subject to auctioneers commission Per Lot on the hammer price at a rate of 15% +23%VAT [18.45%] or a minimum commission of €5.00 [€4.07+VAT] Per Lot.
|Hammer Price Achieved||€100.00|
|Commission Cost @ 15%||€15.00||(€100*15%)|
|Commission VAT @ 23%||€3.45||(€15*23%)|
|Total paid out||€81.55|
8. Payment Out
Auction Xchange will issue a seller receipt detailing the Lot(s) hammer price minus applicable fees and process an electronic funds transfer (EFT) post buyer payment & collection in full.
9. Auction Re-Entry
If an Lot is unsold, it will be presented in a future auction as per the sales proceedure. The Lot will hold a lower reserve or no reserve in order to realise the highest bid by the market.
If you do not wish to re-enter any Lot(s) into a future auction, you will be required to collect the Lot(s) with no withdrawl/exit fee.
Storage Fees do not apply to Lot(s) during the auction sale process.