Information for Buyers
Whether you are buying from our Online Continuous Sale through Auctionet, or bidding in one of our live sales, buying with Young’s Auctions is an exciting and rewarding experience. If you are a new bidder with us, we would recommend reading the following guide, and if you have any further queries, then please contact us.
By registering to bid at Young’s Auctions, you agree to our Terms of Sale (Buyers). For our full terms, please click here
Viewing Days
Our online catalogues for Live Sales are fully illustrated to assist the prospective bidder. However, we recommend that you attend our viewing days at our premises in Farnham. The times and dates will be attached to the catalogue. For our Online Continuous Sales, you are welcome to view during our usual opening hours, but we recommend that you ring in advance to ensure that a member of staff is available to assist you.
Online Continuous Sale
To bid on an item, you will need to have a registered account with Auctionet.com.
You can find a comprehensive FAQ’s guide here.
Live Sales
How to Bid In Person
We welcome bidders in the room, but please note that we are unable to take payment or allow lots to be collected until after the sale has concluded. Room bidders will be required to register with a member of staff to receive a paddle number. Please provide the following details to assist your registration:
- Your name
- Your postal address
- Your contact details i.e., email and telephone number(s)
- Valid photo identification.
The details given will be included on your invoice.
Absentee/Commission Bids
By placing an absentee bid, the auctioneer will bid on your behalf, and aim to secure the lot as cheaply as possible. Absentee bids can be made on our website, or directly with us by filling out a form, telephoning us, or emailing us with your bids. We will require your details for registration as listed above, the lot number(s) that you are bidding on as well as a brief description, and your maximum bid.
Absentee bids must be submitted by the close of business the day before the sale. Absentee bids take precedence over online and room bids. If two identical bids are submitted, the absentee bid taken first takes precedence.
Telephone Bidding
Alternatively, you can bid live on the telephone. A member of staff will ring you in advance of your lot, and will guide you through the process of bidding. We will require your details for registration as listed above, as well as an alternative telephone and if necessary, a back-up bid in the unlikely event that we cannot get hold of you.
Telephone bidders should be prepared to bid at least the lower estimate.
Telephone bids will need to be submitted by the close of business the day before the sale. They are limited, and allocated on a first-come-first-served basis.
Online
You can bid live online through Auctionet.com. (see Fees below). Register for an account here.
Buyer’s Fees
- Our standard Buyer’s premium is 30% (25% + VAT), which is payable in addition to the hammer price of a lot.
- In addition to this, Auctionet charge a fee of £5 (incl. VAT) per lot.
- These charges apply to all of our sales.
- If you bid on a different online bidding platform to Auctionet.com, the above charges will still apply in addition to the charges of your chosen bidding platform.
Example:
You win a lot at the hammer price of £100.
Buyers Premium at 30% – £30
Auctionet Fee – £5
Total cost to you – £135.
Droit de Suite (Artist’s Resale Rights)
Purchasers of a work of art by a living artist or an artist who has died within the last 70 years with a hammer price of £1000 or more will be required to pay a royalty as outlined by the Artists Resale Right Regulations 2006. The royalty is paid to either the Design and Artists’ Copyright Society (DACS) or Artists’ Collecting Society (ACS). Royalties are paid on a sliding scale, as follows:
| Royalty | Resale Price (Hammer) |
|---|---|
| 4% | Up to £50,000 |
| 3% | Between £50,000.01 and £200,000 |
| 1% | Between £200,000.01 and £350,000 |
| 0.5% | Between £350,000 and £500,000 |
| 0.25% | In excess of £500,000 |
Royalties are capped at £12,500 and are not subject to VAT.
Payment
Payments for lots won in our sales must be made within 5 days; the due date will be highlighted on your invoice. Our preferred method of payment is through Auctionet using your payment card on My Pages. Alternatively, you can pay with a debit or credit card (not Amex) on collection, or directly via bank transfer. Please note, that we do not accept cash or payments over the phone.
If the invoice is not paid in time you will be sent a reminder email and a late fee of £5 incl. VAT.
Collections
Collection of lots are during our opening hours, Monday- Friday 09:15-17:15 (we are closed on bank holidays); please contact us in advance so that we can prepare your lots for collection.
We are unable to provide packing materials, so please bring sufficient boxes/wrapping with you.
Please bring photographic identification and/or your invoice with you when collecting. If you would like someone else to collect on your behalf, then please email us to name the person and authorise us to release the lots to them.
Lots will not be removed from the premises unless cleared payment has been received.
Lots not collected within the indicated time frame will incur a storage charges of £5 + VAT per day, unless by prior arrangement.
Lots not collected within 28 days of the sale will be deemed to be abandoned, and Young’s Auctions reserves the right to re-enter these lots into a future auction to recover the cost of storage and associated costs. At this time the buyer relinquishes all claims to ownership and any right to financial compensation.
Shipping
Young’s Auctions no longer offers an in-house postage service. If you require shipping, this will be handled through the Auctionet network. You can get a quote for an individual lot by putting your postcode in on the listing. For a combined quote, please click here.
Alternatively, you can arrange a local courier to collect your items on your behalf. We cannot recommend a particular courier, but local courier services that clients have used in the past include ‘Part and Parcel’, tel. 01252 545611, email shipping@partandparceluk.com; ‘Pack and Send’, in Guildford, tel. 01483 338799, email guildford@packsend.co.uk, and finally ‘Mail Boxes Etc.’ in Guildford, tel. 01483 453131, email info@mbeguildford.co.uk.
Anti-Money Laundering Policy
Under the Money Laundering Regulations 2017, we are obligated to carry out relevant due diligence checks on all transactions of “Works of Arts” (as defined by the VAT Act 1994 as amended) with a hammer price of €10,000 or more. This includes verifying the identity of all clients we transact with as well as any beneficial owner on behalf of whom they may transact.
We may delay completion of, or cancel, any contract for sale where we have not completed our enquiries pursuant to the Money Laundering Legislation to our satisfaction, we have concerns about the Buyer in relation to the Money Laundering Legislation, or we have reason to believe that the transaction might be unlawful for any reason.
If the successful bidder does not provide us with, or we are not satisfied with any of the information received, we may postpone or cancel the contract of sale.
We have the right to cancel the contract of sale without providing a reason.