The following is designed to give important and useful information on how to sell at auction. If you have items you wish to sell, Shapes’ team of specialists can help you through the entire process.
Vendor commission rates are subject to VAT and a minimum of £2.00 per lot
- 15% on items selling up to £999
- 10% on items selling between £1,000 – 4,999 (to be agreed before sale)
- Negotiable on items selling over £5,000
Insurance: 1% + VAT of the hammer price/lower estimate or reserve price if unsold (subject to a minimum of £1.00 per lot)
Lotting Fee: £3.00 + VAT per lot, which covers all photography, internet catalogue listings and live internet bidding the day of the sale
The first step in the process is to arrange a consultation. You may bring your property to us where a department specialist will meet you, conduct a valuation and provide you with a preliminary estimate. If visiting our offices is not practical, it is possible to have a basic valuation done by email/mail. Simply send an image/photograph and the important details via email to enable us to offer a valuation. Alternately, we will visit your home if that is more convenient. The auctioneers run their own diaries therefore it is important to speak directly with them when making a home appointment.
Based on the valuation, a Shapes expert will decide whether your property is appropriate for sale at auction. If you decide to proceed you will be given a receipt for the items with our terms and conditions on the reverse. The items will be catalogued and a photograph will be taken to help market them to realise a favourable price.
We would recommend Colin Anderson from New Leaf Removals if you need to arrange carriage of items. Tel: 07999 926 261 / 0131 478 1369. www.newleafremovals.co.uk firstname.lastname@example.org
The reserve price is the confidential minimum selling price to which you and Shapes agree before the sale. If bidding on your items fails to reach the reserve, we will not sell the piece and will advise you of your options. Reserves are usually placed on or lower than the lower estimate, and can be fixed or discretionary, the latter allowing us to sell with our discretion, usually 10% below the reserve price.
Unsold lots will automatically be re-offered in the next available auction at reduced estimates/reserves, at our discretion, therefore sellers are generally not charged storage. We may feel, however, that there had been no interest in your unsold lot, and that it would not be worthwhile re-offering. In this instance we will notify you to collect your item by a specific date. After this date, you will be charged £10 per lot per day for storage, and should the unsold item remain on our premises for longer than 1 month after the sale, it will be sold by Shapes to defray stotage costs.
A week before the sale you will be sent a pre-sale advice letter which will document each lot you have in the sale, its reserve price should you have placed one, and the estimate. If you notice any amendments that should be made to your lots on this statement, please contact the auction department immediately before the sale takes place.
Post-Sale Statement & Payment
After the sale has taken place, we will send you a post-sale advice letter which will document what each lot sold for in auction, and the total hammer price realised for your collection of goods. If you have any queries with this statement, please contact the auction department immediately. Payment will be made by cheque between 4-6 weeks after the sale, subject to the purchase price of your lot being paid in full by the buyer.
We produce a brochure cataloguing all lots alongside a series of chosen images. Please note we do not charge for having your lot illustrated within the catalogue, however it is the auctioneers discretion as to which images s/he might use for illustration purposes. Catalogues are free to all vendors, and can be purchased by prospective buyers. A pdf catalogue is also placed on our website for individuals to print out freely.
Internet & Photography
A Lotting fee of £3 + VAT per lot covers all internet and photography. Each lot is catalogued and individually photographed. An online catalogue illustrating all lots is then uploaded onto www.shapesedinburgh.co.uk and www.the-saleroom.com. Live internet bidding via www.the-saleroom.com on the day of the sale allows all lots to be viewed and purchased by a national and international audience.
If you wish to withdraw an item after it has been catalogued, you will be charged a withdrawal fee of 15% of the reserved price or lower estimate, at the valuers discretion.
Private Collections & Country House Sales
We are pleased to offer preferential terms for single owner collections in which case an individual advertising and marketing plan and commission rate structure may be devised and agreed with the client.