Phillip Arnold Auctions: Registering to Bid Prior to Auction
The current COVID-19 pandemic means that prospective purchasers wishing to bid at forthcoming Phillip Arnold property auctions are unable to attend our auction rooms. Accordingly, Phillip Arnold Auctions has developed a remote bidding system to give buyers the best possible bidding choices, plus a simple procedure for registering to bid prior to the auction.
Remote bidding form
All prospective purchasers must complete the Remote Bidding Form which offers buyers three choices in how they may bid:
1. Proxy: Voting by proxy is when buyers give the auctioneer permission to bid on their behalf. The potential buyer specifies a precise amount for their maximum bid and the auctioneer will bid on their behalf up to that maximum amount.
2. Telephone: A Phillip Arnold staff member will call the buyer shortly before the start of the auction of the lot in which they are interested. Buyers should be contactable by telephone throughout the auction period and do not need to pre-set a maximum bid.
3. Internet: An increasingly popular choice, buyers can bid live via our internet bidding provider, EIG. Instructions will be emailed to clients explaining how to access the EIG remote bidding platform.
Proof of ID
To ensure the requirements of the Government's anti-money laundering legislation are met, buyers must provide ‘certified’ copies of two acceptable forms of identification (ID).
Photocopies of two separate IDs will be required; ideally copies of a passport and a photocard driving licence. If only one of these two items can be provided, the second ID may be a copy of a utility bill or bank statement.
Both ID copies must be ‘certified’ by a bank manager, police officer, teacher, solicitor, or another person who holds a recognised public office. Take the original ID and the copy to whoever is doing the certifying and ask them to write the words: ‘TRUE COPY OF THE ORIGINAL’ on the copy. Ask them to sign their name and print their job title and address, below where they have written ‘TRUE COPY OF THE ORIGINAL’. Repeat for both ID copies.
Once we has received the completed and signed remote bidding form plus two correctly certified copies of the ID (by email or post), the final stage in the process of registering to bid prior to the auction, is to lodge the deposit with the Phillip Arnold client account. Details of the client account to which the initial deposit and buyer’s fee totalling £5,600 must be paid will be provided. The initial deposit amount will be refunded to unsuccessful bidders with 2 working days of the auction date.