Whether you have never set foot in an auction room or you are a seasoned collector, understanding how auctions work in the UK helps you get the best deals and avoid the common pitfalls. This guide walks through the whole process as it works at Clumber Auction House in Dinnington, from registering to taking your purchases home.
What is an auction?
An auction is a public sale in which items, called lots, are sold to the highest bidder. In the UK auctions are governed by the Sale of Goods Act 1979 and related legislation, and every auction house publishes Conditions of Sale that set out the rules of the game. Ours are on our Terms and Conditions page, and it is worth ten minutes of your time to read them before you bid anywhere.
Types of auction
Traditional saleroom auctions
The classic format: an auctioneer at the rostrum taking bids from the room. At Clumber we hold fortnightly general auctions on Wednesdays at our saleroom at 1 Station Road, Laughton Common, and we are proud of being a Traditional Old School Auction where you can enjoy the live experience.
Live online auctions
Our Wednesday sales are also streamed live through this website on the BidSpirit platform, so you can bid in real time from anywhere against the room. It is the same sale; you are simply sitting at home.
Online-only auctions
Our Coins, Gold and Silver Bullion auctions are held on Sundays and run entirely online. There is no room bidding; the auctioneer works through the lots and online bidders compete with each other and with absentee bids left in advance.
How to register
Before you can bid you need to register. In the saleroom this means giving your name, address and contact details at the desk, possibly showing photo ID, and receiving a bidder number. Online, you create a free account through My Account on this website. We may ask for ID, and for some sales we ask for a payment card to be kept on file before approving you to bid. You only need to register once.
Viewing
Every lot is sold as seen, so viewing matters. Our lots can be viewed at the saleroom on weekdays from 09:30 to 15:00 in the run-up to each sale, and viewing by appointment is welcome. If you cannot get to Dinnington, ask for a condition report by email and we will describe the piece honestly and send more photographs if needed.
How bidding works
The auctioneer opens the bidding at or below the lower estimate and takes bids in increments. Increments are at the auctioneer’s discretion, and each lot on our website shows its increment table, but a typical pattern looks like this:
| Bidding range | Typical increment |
|---|---|
| Up to £100 | £5 or £10 |
| £100 to £500 | £10 or £20 |
| £500 to £1,000 | £50 |
| Over £1,000 | £100 or more |
When no one will go higher, the auctioneer brings the gavel down and the lot is sold. That final figure is the hammer price. Remember that a bid, once made, cannot be withdrawn: a winning bid is a binding contract to buy.
You do not have to be present, or even online, to bid. An absentee or commission bid is your maximum figure left with us in advance; the auctioneer bids on your behalf, only as far as needed to beat the competition. Telephone bidding can be arranged for higher-value lots.
Understanding the buyer’s premium
On top of the hammer price, buyers pay a buyer’s premium, which is the auction house’s fee. At Clumber Auction House the buyer’s premium is 18% of the hammer price, on every lot in every sale. VAT is charged on the hammer price only for lots marked with an asterisk (*) in the catalogue, as set out in our Conditions of Sale.
| Hammer price | Buyer’s premium (18%) | Total |
|---|---|---|
| £100 | £18 | £118 |
| £250 | £45 | £295 |
| £500 | £90 | £590 |
| £1,000 | £180 | £1,180 |
So if you win a lot at £100 hammer, you pay £118 in total. Our post on what a buyer’s premium is goes into more detail.
Payment and collection
Payment is due as soon as the sale ends and within 5 working days at the latest. We accept cash (within anti-money laundering limits), debit and credit cards and bank transfer. Purchases can be collected on Thursday and Friday between 10:00 and 15:00 after a Wednesday sale, on Monday and Tuesday after a Sunday sale, or at another time by arrangement. Shipping can be arranged on request. Please collect within 7 working days; after that, storage charges may apply.
Tips for first-time buyers
- View first. Inspect anything you are serious about. There are no returns for a change of heart.
- Set a budget. Decide your maximum before the sale, including the 18% premium, and stick to it.
- Use the estimates as a guide. Lots sell above and below estimate all the time.
- Start small. A few low-value lots are the best way to get comfortable with the pace.
- Ask. Our staff are always happy to help a newcomer. There are no daft questions.
Ready to start bidding?
Browse our upcoming auctions and register to bid. If you have items you would like to sell, see our free valuations page or get in touch.
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