Selling

Clients are welcome to bring any item they wish to sell to Grand Auctions by prior appointment for appraisal. Grand Auctions staff are happy to visit clients ‘at home’ without charge, if they are intending to sell a number of items at Grand Auctions.

Once estimates and reserves have been agreed, clients may leave their item(s) with Grand Auctions until the auction itself. There is no charge for unsold lots if the lower estimate has been agreed or the auctioneer has been given discretion.

All items are catalogued in detail and illustrated on the Grand Auctions website, the Saleroom catalogue and by agreement in the Grand Auctions catalogue. Auctions are advertised widely in the UK and abroad, where suitable.

Commission

The commission rate for items sold is 20% on the first £5,000 and 12.5% thereafter inclusive of VAT at the current rate.

Settlement

Grand Auctions normally makes settlement by cheque or direct bank transfer within 28 working days after the auction. Grand Auctions reserves the right to withhold payment until all lots have been paid for by the buyer.

Withdrawn Lots

When a vendor cancels instructions for sale, Grand Auctions reserves the right to make a withdrawn lot charge amounting to no less than 15% of Grand Auctions's low estimate of the auction price, owner's reserve or the agreed reserve, whichever is the greater, together with VAT thereon and any other expenses incurred in relation to the property. Any lot withdrawn either by the vendor or Grand Auctions which is not collected within three days of the sale will be subject to the same conditions as Clauses 8 and 9 in Terms of Sale.

Insurance / Limited Liability

Unless vendors can produce written documentation that their items are fully insured on third party premises, all items are insured by Grand Auctions under its own policies for which the client is charged 1.75% of the sale value. No charge is made for unsold items, unless items are not collected in good time. Please see Terms for full details.

 

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