- How do bidders register?
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Bidders register on the website via the online auction registration from. After they’ve registered, SellFast will receive your bidder request which you can either be approved or rejected.
- How do bidders log in?
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Bidders login from the auction sign in portal on the website online auction page.
- What do my bidders need to do to participate in an online auction?
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After bidders have been approved to bid for an online auction, they need to login via the website login page. Then once the auction starts, they can make bids based on the auctioneer’s direction by simply clicking the ‘Bid’ button.
Online bidders will be able to view all onsite and online bids in real time on the bidder dashboard.
- Is there a cost to online bidders?
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SellFast will charge a buyer’s premium as well as VAT 15% on all lots as well as some auctions require a refundable deposit.
How does a timed-online auction work?
The auctions which we provide are called timed-online auctions. A timed-online auction is held over the internet and lasts for a specific period of time e.g. 2 days, a week or even a month!
The whole process is automated and bidders are updated via email for the following:
· If their bid was successful.
· If they are the leading bidder.
To ensure the auction is maintained, the auction house can set increments to stop obscure bids being placed. - What happens if you don't pay?
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If you win an item and don’t pay the total amount then this can cause serious issues between you, the seller and the auction house.
There's a time limit for you to pay and/or collect the goods and they are expressed in the important information.
There have been high profile disputes involving some of the biggest auction houses in the world. The disadvantage of these disputes is the fact that they can reach the courtroom.
To avoid having a negative auction experience, it’s imperative that you are committed to the item you bid on.
- What are your bank details?
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Our bank details can be found on all the invoices which winning bidders receive.
- What happens if I win an item at auction?
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We invoice the winning bidder with a payment request, via e-mail, on the same day as the close of the auction.
The payment request will detail the amount that will need to be paid to us within 2 working days.
Once we have received payment, we will issue a collection notice to put both the vendor and winning bidder in touch. This enables both parties to arrange collection or dispatch.
- What is an auction reserve?
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Unless stated, all lots will have a reserve.
A reserve will be the minimum amount that the vendor is willing to sell the lot for.
A lot can fail to sell at auction and this is because the reserve was not been met.