1. Auction Entries
Auction Xchange accepts a wide variety of items for auction including: Residential: interior decoration; furniture; garden; bikes; leisure; equipment; etc. Commercial: excess stock; fixtures & fittings; office furniture; catering equipment; business equipment, liquidation assets, etc.
Simple.. just TEXT or WHATSAPP photos of your items to: 0831587298 or EMAIL to: entries@auctionxchange.ie & we will reply with a no obligation assessment of your items & next steps including collection/delivery options, etc.
Please provide as much detail as possible to maximise the re-marketing opportunity: e.g. brand, age, original purchase price, where originally purchased, dimensions, current location, if appropriate: model name, number, mileage/volume etc.
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.
2. Collection
If you need assistance with collection of your items, our team can provide recomendations to meet your requirements.
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: Seller Registration
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. 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 Initial Reserves
A reserve price means that your lot(s) will not be sold unless bidding meets or exceeds the reserve price you set. Initial reserve pricing will initially be provided based on previous sale prices achieved and is subject to Seller review.
5. Advertising
Lot(s) are published in realtime on the online catalogues in realtime 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, timing out from 6.30PM every Tuesday.
6. Viewing
The premises is open to the public for viewing. Providing prospective bidders the time to view 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 17.5% + VAT [21.5%] or a minimum commission of €8.13+VAT [€10.00] Per Lot.
Example:
| Hammer Price Achieved | €100.00 | |
| Commission Cost @ 15% | €17.50 | (€100*17.5%) |
| Commission VAT @ 23% | €4.03 | (€17.5*23%) |
| Total paid out | €78.47 |
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 in full & collection.
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 No Reserve in order to realise the highest bid by the market.
If you do not want any Lot(s) to be entered into auction with no reserve, you will be required to collect the Lot(s) within the prior 6 days and no withdrawl/exit fees apply.
10. Storage
Storage Fees do not apply to Lot(s) during the auction sale process.