Selling with Young’s Auctions

Initial Steps

The first step would be to contact our office on 01252 716082, where a member of our team would be pleased to discuss your requirements. We would usually ask for clients to email info@youngsauctions.co.uk with images, which would assist us in identifying and assessing auctionable items. The next step would be to an appointment for the items to be brought in to our premises in Central Farnham, or arrange for us to collect the items if necessary. We receive a large number of valuation requests, and we will respond to your request as soon as possible.

If you are unable to email images, then we would book an appointment for you to bring items to our premises for assessment. We may ask for items to be left with us for further research. You will be issued a receipt for this purpose.

Alternatively, it may be necessary for one of our valuers to visit you at your property to assess the items. We would be happy to discuss this with you.

At this stage, we provide no obligation, indicative valuations free-of-charge, but please note that these are subject to change following closer assessment. We will discuss your expectations and suggested reserves if necessary.

Consigning Items

If you are happy to proceed with the sale of your items, we will issue you with a receipt of the items, which lists our terms of sale and confirms your authority to sell the items listed. We are legally obliged to obtain proof of identity, (e.g. Passport or Driving Licence), and proof of address.

Items will be allocated to either our Online Continuous Sale, a Timed Themed Sale, or a Live sale, which will be discussed with you when you consign your items.

Your items will be catalogued with formalised descriptions and estimates. We will email you these details on a contract note.

Online Continuous Sale

Once your items have been catalogued, photographed, and any reserves agreed with you, they will be entered into our Online Continuous Sale (unless otherwise agreed). Each listing will be live for 7 days. In the unlikely event that your items do not sell in the first 7 day listing, they will be automatically relisted for another 7 days, and for a third time if necessary. Should an item remain unsold after the third attempt, we will contact you to discuss a suitable path forward.

Payment

We aim to make payment to vendors within 28 days after a sale, assuming that we have received full payment in cleared funds from the buyer. We act as agents and cannot be held responsible if the buyer does not pay. Payments to vendors are managed through the Auctionet system.

Seller’s Commission and Other Charges (All Charges incl. VAT)

Entry/Lotting Fee for Online Continuous and Themed Sales: £9*
Entry/Lotting Fee for Live Sales: £15*

Commission: 18% of the hammer price

Insurance: 1.8% of hammer price or lower estimate*

These fees are deducted from the proceeds of sale.

Collection Fees Per Hour: £42 for one carrier, £66 for two carriers*

Ivory Exemption Certificate Fee: £30 per item*

Cites Certificate Fee: £42 per item*

PAT testing fee for electrical items: £6 per item*

These fees will be invoiced separately to the vendor.

(Please note that charges marked with * are payable even if an item is unsold)

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 you, or the successful bidder, does not provide us with, or we are not satisfied with any of the information received, we may refuse to accept consignment of your Goods for sale in our auction and we may postpone or cancel the contract for sale between you and the successful bidder.

We have the right to cancel the contract of sale without providing a reason.