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Frequently Asked Questions

FREQUENTLY ASKED QUESTIONS

Below you will find answers to frequently asked questions for our auctions.

BUYING:

When is your next auction?

Our next auction is taking place on Saturday 11th December at Stoneleigh Park (CV8 2LG). 

How do I view and inspect the cars in person?

We will have a viewing day on Friday 10th December at Stoneleigh Park. 

Will I be able to view the history files too?

You will be able to view the history files in person at Stoneleigh Park.

How do I register to bid?

To bid in person, you can complete the registration process in person on the auction weekend.

For telephone and commission bidding you will need to complete an absentee bidder form available here.

For online bidding, you will need to register with one of our online bidding partners Proxibid or The Saleroom.  There is an additional charge of 1% plus VAT when buying this way. 

However you choose to bid, to complete your bidder registration and comply with money laundering regulations you will need to provide ONE form of ID to our secure portal via the following link, bank details are not required for bidder registration https://secureportal.classiccarauctions.co.uk/

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

Buyer’s premium is charged at 11% +VAT (13.2%) 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. 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 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.

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. 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.

Is there a guarantee on my purchase? 

No, cars are sold on an as seen basis. You are advised to satisfy yourself as to the vehicles condition and suitability before bidding. We offer viewing opportunities, as well as photographic content for each car offered.

How fast will the auctioneer go?

The auctioneer will aim to sell approximately 25-30 lots per hour.

What is a Saleroom notice?

A saleroom notice is issued when a pertinent change in the information provided on an item is made after the catalogue is finalised and published.

If a Lot has a Sale Room Notice, this will be displayed on the individual Lot page.

What happens when I 'win'? 

Once the reserve is met, the person with the highest bid 'wins' the lot and formally becomes the buyer. You will be invoiced for the item via email immediately following the sale. Items can only be collected once we are in receipt of cleared funds, payment is due by 5pm the Monday after the sale. 

What is a provisional bid?

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.

Do you take a deposit or security payment prior to the auction? 

No, you will be invoiced following the auction. All invoices are due for payment by 5pm the next working day following the auction.   

What payment methods do you take? 

Payment can be made by bank transfer or by card (in person only, payments cannot be taken over the phone) up to a limit of £20,000 for debit cards and £5,000 for credit cards.

What are the payment terms?

Payment is required by 5pm on the next working day immediately following the auction. 

Do you accept foreign currency payments? 

All payments need to be made to arrive in GBP.

Do you accept finance? 

We do not offer finance but will accept payments from a finance company on your behalf. Payment must be received within three working days following the sale. Once the hammer falls the car is yours, so it is your responsibility to ensure you have adequate funds in place before bidding. 

At what point do I insure my purchase? 

Any purchases become the responsibility of the buyer as the hammer falls. We therefore recommend that you insure any vehicles immediately, our insurance partners, Peter James Insurance, are able to offer both short and long term cover. 

What about road tax? 

Since 1st October 2014 road tax is no longer transferred as part of a sale. The new keeper must tax the vehicle if they want to use it on the road or complete a SORN if the vehicle is being stored. 

What happens with the V5c? 

We will process the V5c and it will be registered to the new keeper online with the DVLA within 14 working days. The details used will be those that 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.

When can I collect my purchase? 

Collections can take place on Sunday 26th and Monday 27th September. Please ensure cleared funds have arrived in our account before you collect.

Our transport partners, EM Rogers, can assist with collection and delivery. Please contact them on 01604 755511 for a quote.

Can a car be shipped abroad? 

Our transport partners, EM Rogers, can assist in shipping cars abroad and regularly do so to destinations including Europe, the USA, Australia, New Zealand and Asia. It is your responsibility to check that the destination country has no restrictions regarding import and settle any taxes that may be payable on entry. 

Are the unsold cars on your website still available to buy?

Any lots not sold at an auction will show a 'buy it now price' for two weeks from the date of the sale. During this time we can negotiate a purchase price on your behalf with the vendor.

We keep all of auction results/historical data (sold and unsold) on our website. So from time to time you may see an unsold car appear in a generic search result. These cars are no longer available. However, please feel free to email the consignor who may have an alternative/similar car in an upcoming sale. 

SELLING:

How does Classic Car Auctions value classic cars? 

All cars are submitted to our internal valuation committee who between them have a wealth of experience of all makes of classic and competition cars. The value is agreed between the consignor and the vendor of the vehicle in line with current market conditions and the vendors expectations. 

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

We charge a cataloguing fee when you confirm entry into the auction. Details of this can be read under entry fees and charges, here.

Our sellers commission is 5% of the hammer price + VAT (subject to a minimum fee of £350 plus VAT).  

What happens once my car is confirmed for auction? 

Your consignor will guide you through the process once you have confirmed your car for the auction. 

Once live on our website, the vehicle will be included in our worldwide marketing opportunities. Platforms include; digital and printed media, press releases and video.  All auction entries are featured on our website. 

What about the documentation/history files for my car? 

To assist with the sale, we ask you to supply all of the documentation for your vehicle at auction. Please ensure the documentation is inside your vehicle when it is delivered to us. They will be stored in a secure location and will be available to view by potential buyers under the supervision of our staff. At the end of the sale they are secured into the vehicle ready for collection. 

What if I want to withdraw my car from an auction? 

Withdrawal of a car once entered attracts a fee of 15% of the mid estimate of the lot + VAT, this is payable within 14 days of the withdrawal.

What happens when my car is sold? 

The buyer becomes responsible for the vehicle on fall of the hammer, however, title will not pass until cleared funds are received by us. The V5c will be processed to the new keeper once full payment has been received. DVLA will refund any outstanding road tax on the vehicle direct to the registered keeper on the V5c. 

What about my vehicle insurance? 

Responsibility for the vehicle passes to the successful bidder on the fall of the hammer, however we would recommend keeping the vehicle insured until you have received payment. Cars are insured whilst they are in our care. 

When will I receive payment? 

You will receive a statement via email from the accounts team within five working days of the auction, detailing the proceeds of the sale. Funds will be paid to your bank account via BACS transfer within 14 working days from the date of the auction (subject to cleared funds being received) but we aim to pay out within ten working days. During this time funds are kept in a dedicated client account. 

When can I collect my car in the event it doesn't sell?

Collections can take place on Sunday 26th and Monday 27th September from Stoneleigh Park.

GENERAL FAQS

What is the secure portal? 

The secure portal is provided by Egress providing an encrypted secure platform for documents to be shared with us.  Egress has AES 256 bit encryption and meets legislative and industry requirements, including GDPR.