BUYING CARS AT AUCTION

Classic Car Auctions aim to make the process of buying your vehicle
as easy and hassle free as possible.

CLASSIC CAR AUCTIONS BUYING GUIDE

Our next sale is the the Practical Classics Classic Car and Restoration Show, at the NEC, Birmingham on 22nd – 24th March. We welcome all potential buyers to the auction with viewing available prior to the Sale.

This page provides some helpful guidance on buying cars at auction and the process of buying - be it at the event, online or by phone or commission bid.

VIEWING PRIOR TO THE SALE

If you are fed up that often cars listed on some online only auction houses are not as described - then viewing days are for you. 

Viewing days are just one of the great things about a live auction. You get the opportunity to inspect the vehicles and any associated history files prior to bidding. The vehicles will be available to view at the NEC, Birmingham on Friday 22nd March and before the Auction on Saturday 23rd. You will be able to see all cars up close and speak to our team of specialists who are on hand to answer any questions you may have. 

BIDDING

To bid at the auction be it in person, online, on the telephone or via a commission bid, you will first need to register an account with us or with our partner The Saleroom. To comply with money laundering regulations, you will need to provide one proof of identification, such as a passport or drivers licence, every 12 months. When submitting forms by post, please ensure they reach us no later than 4pm (BST) the day before the auction is due to take place.

BIDDING IN THE ROOM

Bidding in the room means you can join in the excitement at a live auction. If you wish to bid in the room please go to the Registration Desk where our team can assign you a Bidding Paddle - this what you will need to show the Auctioneer if you are successful. 

TELEPHONE & COMMISSION BIDDING

A commission bid is the maximum amount you are willing to bid up to (excluding the buyer's premium and VAT). We will execute your bid as low as possible on your behalf.

Telephone bidding will still allow you to bid live during the auction. On the day of the sale, a member of the Classic Car Auctions team will contact you, usually a few lots prior to your selected lots and will guide you through the process. It is important that you provide us with alternative telephone numbers to ensure that we are able to contact you on the day. Please note all telephone bid calls are recorded. You can also leave a commission bid in the event that we are unable to contact you by telephone.

To register a bid against a lot on the website, select the lot and using the Lot Tools on the right hand side of the page, select the "Bid on this lot" link. You will be able to select whether to leave a telephone bid or a commission bid.

Alternatively, please download the form below, complete it and send it back to bid@classiccarauctions.co.uk

 Telephone & Commission Bid Form

You will need to provide one form of ID, such as a driving licence, which can be uploaded to our secure portal https://secureportal.classiccarauctions.co.uk/ 

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ONLINE BIDDING

Online bidding is available directly on our website (with no additional fee) as well as via our partner The Saleroom. Please note that bidding with our partner incurs an additional fee of 1% plus VAT. Online bidding offers convenience to those looking at buying a classic car at auction and you will also be able to watch the sale live online - this is available on our website homepage and also on our YouTube channel.

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CHARGES

Like the majority of auction houses, Classic Car Auctions charge what is known as a buyer's premium. Our standard buyer's premium charge is 12.5% + VAT of the hammer price for motor vehicles (cars and motorcycles). Classic Car Auctions use the Auctioneers Margin Scheme (VAT Notice 718/2). VAT cannot be split out on the invoice and cannot be reclaimed by VAT registered businesses or individuals.

VAT

Some lots may be VAT qualifying and subject to VAT on the hammer. Some lots may have been brought into the UK on a temporary admission and therefore import VAT will be due on the hammer price plus buyer's premium. These lots will be clearly marked in the catalogue.

Any lots that are not VAT qualifying will be sold using the Auctioneers margin scheme (VAT Notice 718/2). VAT will not be charged on the hammer price. The VAT on the buyers premium will not be split out on the invoice and cannot be reclaimed by UK VAT registered businesses or individuals.

Further duties and VAT may be applicable on exporting lots from the UK. It is the responsibility of the buyer to settle these charges.

PAYMENT

All payments are due by 5pm the next working day following the sale. Payments must be made in GBP, by bank transfer where possible. Payment can also be made in person by debit card (up to £20,000) and credit card (up to £5,000). Please note we do not accept AMEX or cash payments.

Lots purchased can only be released upon receipt of funds. You should ensure that you have the necessary monies available and are able to pay before you bid.

We are unable to accept funds from countries on the Financial Action Task Force High Risk and Non-Cooperative Jurisdiction Lists.

FINANCE

We have partnered with Oracle Car Finance, the UK's number one funder for buying classic cars, who can help you get approved before the auction with an agreement in principle. Please see their website www.oraclefinance.co.uk or call 03308 387491 for a quote.

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COLLECTION

Full payment must be received before any item is available to be released. Our transport partner, EM Rogers, can assist with collection and delivery. Please contact them on 01604 755511 or trafficdesk@emrogers.co.uk for a quote.

Due to venue restrictions we need to be clear of the venue on the Monday following the auction, therefore any motor vehicles not collected by this time will be taken to our transport partners storage facility in Northampton for a fee of £175 plus VAT. Storage will be charged at £10 plus VAT per day. The administration team will contact you post-sale to discuss transport arrangements.

Buyers should satisfy themselves that they have all the relevant spares, documents and keys relating to their lot(s) at the time of collection. We recommend that when you collect your purchase, you arrange for the car to be transported via a trailer/transport partner. This is to allow for circumstances such as flat batteries or similar situations, which can be tended to once the car is home. Written instruction from buyers must be provided if they wish their lot(s) to be collected by a third party.

PROVISIONAL SALES

Occasionally a car may be sold under a ‘provisional bid’ if your final bid does not reach the reserve price. A provisional bid stands until 12pm the day following the auction. During this time we will contact the seller on your behalf to see if they will accept your bid or try to negotiate a sale on your behalf.

WARRANTIES

The catalogue will describe the lots to the best of our ability on information supplied. You should, however, satisfy yourself as to the condition, age and integrity of any lot prior to bidding as no warranties whatsoever are given in relation to any lot. As the hammer falls a contract is made and you are obligated to proceed with the purchase. It is therefore vital that you are satisfied to the best of your ability with the condition of the lot you intend to bid upon before doing so. 

INSURANCE

All purchases are at the Buyers risk from the fall of the hammer. You should therefore arrange insurance from this point.

REGISTRATION DOCUMENTATION

All V5c forms will be taken back to our office and the change of ownership registered with the DVLA on your behalf by our admin team within 14 days of the sale. The details used will be those the buyer registered with, unless we are notified in writing otherwise. Where lots have entered the UK on a temporary admission, we will instruct the import agent to obtain the NOVA reference number on your behalf upon receipt of cleared funds. This will enable you to register the vehicle. Please note that following a change to legislation in 2014, road tax no longer transfers to the new owner. You will need to tax the vehicle before driving it on the road.

FREQUENTLY ASKED QUESTIONS

View our frequently asked questions for more information and facts on the buying a classic car at auction and the process with Classic Car Auctions.

TESTIMONIALS

Classic Car Auctions are a team of specialists with a true love for all marques and classics, we also have a dedicated marketing and administration team. We welcome all feedback with a continuous improvement culture and strive to be the best - as endorsed by our Trustpilot customers reviews.  Our sales events are a great day out and organised with a military precision for all those attending or bidding by proxy, online or commission.

TERMS AND CONDITIONS

This guide should be read in conjunction with our full Terms and Conditions of Sale available here.

 

 

If you have any further questions you can contact us by phone 01926 640 888 or email enquiries@classiccarauctions.co.uk or visit our Contact us pages

FAQ's

How do I register to bid?

You can complete the registration process in person, by creating an account on our website or by completing an absentee bidder form available here. For online bidding, you can do this for free on our website by registering an account and clicking on the bid live button. Alternatively, you can register with our online bidding partner The Saleroom.  There is an additional charge of 1% plus VAT when buying with our online partner.  However you choose to bid, to complete your registration and comply with money laundering regulations you will need to provide one form of ID. You can upload this via your account on our website or via our Secure portal  https://secureportal.classiccarauctions.co.uk/ 

How much does it cost to buy a car at an auction?

Buyer's premium is charged at 12.5% plus VAT (15% incl. VAT) on the hammer price.     Some lots may be VAT qualifying and subject to VAT on the hammer. Some lots may have been brought into the UK on a temporary admission and therefore import VAT will be due the hammer. price and buyer's premium. These lots will be clearly marked in the catalogue. Any lots that are not VAT qualifying will be sold using the Auctioneers Margin Scheme (VAT Notice 718/2). VAT cannot be split out on the invoice and cannot be reclaimed by UK VAT registered businesses or individuals. There will be no VAT payable on the buyer's premium on purchases under the Auctioneers Margin Scheme if the lot is being exported to the EU within three months of the auction date and proof of export is provided. Further duties and VAT may be applicable on exporting lots from the UK. It is the responsibility of the buyer to settle these charges.

What about VAT?

Some lots may be VAT qualifying and subject to VAT on the hammer. Some lots may have been brought into the UK on a temporary admission and therefore import VAT will be due on the hammer price plus buyer's premium. These lots will be clearly marked in the catalogue. Any lots that are not VAT qualifying will be sold using the Auctioneers Margin Scheme (VAT Notice 718/2). VAT will not be charged on the hammer price. The VAT on the buyers premium will not be split out on the invoice and cannot be claimed by UK VAT registered businesses or individuals. There will be no VAT payable on the buyers premium on purchases under the Auctioneers Margin Scheme if the lot is being exported to the EU within 3 months of the auction date and proof of export is provided. Further duties and VAT may be applicable on exporting lots from the UK. It is the responsibility of the buyer to settle these charges.