What happens if a prospective purchaser is unable to attend the auction?
If prospective purchasers are unable to attend the sale, it is possible to bid in other ways:
- By telephone - the interested party will be telephoned as the lot is being auctioned.
- By proxy in writing - a member of the auction team will represent the buyer, who has previously specified their maximum bid.
- By on-line bidding – you will be sent an e-mail with instructions on how to log in to the EIG website for remote bidding.
In the case of telephone or proxy bidding, a registration form, deposit money, buyer's fee and identification will be required at least 24 hours prior to the date of the auction. For internet bidding you will need to ensure all details are with us at least 48 hours prior to auction to ensure that you receive the corresponding e-mail with Log In details for the EIG website. Please note that if choosing to bid on-line that we cannot be held responsible for any difficulties that may occur due to the internet speed in your location.
Payment of Deposit Money and Buyer's Fee
Cheques should be made payable to Phillip Arnold Auctions and should be left blank or filled in to represent 10% of the bidders maximum bid. Only if the bid is successful will the cheque be completed and presented for payment. The amount shall be for 10% of the purchase price subject to a minimum amount of £2,000. The Buyer's Administration charge of £600 (inclusive of VAT) will also be added. Unsuccessful bidders will have the cheque returned to them or it will be destroyed, dependent upon their instructions. The Auctioneers will also require identification to accompany the form and cheque in accordance with the Money Laundering Regulations, ie a CERTIFIED copy of a current passport or photocard driving licence for proof of identity and a recent utility bill (dated within last 3 months) for proof of address.
We can also accept a direct transfer of the deposit money and buyer’s fee into our client account although this will need to be with us 48 hours before the auction. If you are unsuccessful the money will be transferred back to your account within 24 hours of the auction.
Click here to download the registration form for telephone or proxy bidding.