Bonhams Auctioneers

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Selling at Bonhams This step by step guide is designed to help answer any questions you might have about how to sell your property through Bonhams. Valuations The first step to selling through Bonhams is to obtain a valuation. Auction valuations are free and can be obtained in the following ways. You can post us a description and photograph The best way to find out who to send this to is visit our locations page and send in your valuation request to the nearest saleroom or office who will then contact you to discuss your options further. You can email a description and an image. To find out who should contact go to the specialist page and send an email to the relevant specialist. If you are unsure about who to contact please email Webmaster. You can bring in your property for valuation Although we are able to estimate the value of your property from photographs and descriptions, and this is a good starting point, a more accurate valuation requires seeing the object first hand. To find your nearest Bonhams Saleroom or Office look at our ?Locations? page which will give you the addresses, contact details and opening hours for all our offices and salerooms. The pages also contain a list of specialist valuation days and weekly valuation days. If you are unable to attend the weekly valuation day you can telephone the office to arrange an appointment. If your property is too large to bring in for valuation We can arrange for a specialist to make a house call to look at items that are too large to bring in for valuation. Please visit our ?locations? page to find your nearest saleroom, office or representative who will be happy to make an appointment to come and value your property for sale. Please see the consignment section to see what happens if you decide to sell through Bonhams. Consignment From valuation to consignment Once we have discussed your requirements with you and inspected your property, we will give you an estimate of what the item(s) are likely to realise at auction and will advise you of the most appropriate sale. This might be a local auction held at your nearest Bonhams saleroom. However, we may recommend that certain items of specialist appeal or international interest are transferred to another Bonhams saleroom. Transporting your property to the saleroom The property that you wish to sell should be delivered to your local saleroom. If you wish, and at your own cost, we can organise carriage on your behalf. When organising the sale of an estate, we can usually make arrangements to clear houses of residual items not suitable for sale by auction. In addition, temporary safe storage of items can be arranged by request. If you are consigning goods from overseas, shipping charges and VAT / import duty may apply. Receipt for consignment When you have consigned your goods for sale at Bonhams our specialist will discuss your sale requirements with you and record these on a Receipt and Contract Form. This document is your instruction to us to sell. It is your contract with Bonhams and your receipt for the property you have consigned. The form carries your personal reference number for that particular consignment, in the top right-hand corner, which should be quoted in all communication concerning your sale items. This form specifies your terms, and a folder containing our Conditions of Business will be given to you. Agreeing sale terms and reserve sale price The Receipt and Contract Form includes details of your wishes about the price at which you will be prepared to sell each item. You have several options: No reserve / sell. Your property will be sold for the highest bid received, with no minimum price specified. Discretion. The item will be sold at a price which is at the discretion of the auctioneer. This means you are giving permission for your goods to be sold at typically 10% ? 20% below an agreed figure. Agreed reserve. Your item will normally be sold at or in excess of your agreed reserve. However, in certain circumstances, your lot may be sold at a figure below the agree reserve, with Bonhams settling with you the same amount as if the item had been sold at the agreed reserve. Bonhams treats your sale instructions with complete confidentiality; they are never discussed with anyone other than you or your authorised representatives. Charges What charges can I expect if I sell through Bonhams? Minimum Commission The Vendor?s Commission is subject to a minimum commission per lot of: -?60 for New Bond Street sales and ?30 at Knightsbridge -?20 for UK regional sales Seller?s Commission Rates All UK Salerooms On the first ?2,000 15% Thereafter 10% Please note that separate charges apply to wine and motor vehicles Please contact the department for further information Wine Department Motor Cars Department Loss and Damage Warranty 1.5% of the Hammer Price of each lot if sold, or if unsold 1.5% of the average of the high and low estimates Unsold Charge Minimum charge of ?5 per lot (plus insurance as detailed above). Illustration charges Please note that these charges are only incurred by prior agreement with you the vendor New Bond Street Saleroom ? page: ?150 ? page: ?400 ? page: ?250 Full page: ?500 Minimum charge for item in group illustration: ?50 Knightsbridge and Regional Salerooms ?15 to ?350 depending on size and format. Web illustration charge: ?10 for New Bond Street sales ?5 for Knightsbridge, Regional salerooms & off-site sales VAT Value added Tax, at the current rate, is payable on all commissions and charges, except where it is indicated as VAT inclusive. Additional Charges Please note that these charges are only incurred by prior agreement with you the vendor There may be additional charges for restoration, shipping, packing, storage, custom duties and import tax, if appropriate. Exceptions to our normal charges The Stamp, Wine and Motor Car departments commission and VAT rates can vary from our standard charges. Wine: Buyer's rates are 10% + VAT. Sellers rates as normal. Motor cars: Buyer's rates are 15% + VAT on the first ?30,000 and 10% + VAT thereafter. Sellers commission 10% (plus VAT) Entry fee, 1/2 page colour ?150(plus VAT) - full page colour ?250(plus VAT). Removal Charges, ?120 + VAT per motor Car, ?40 + VAT per motorcycle, ?60 + VAT per combination, ?10 + VAT per automobilia lot if marked with a ⊕ Commercial Vehicles at quoted rates. Conditions All sales are subject to the Terms and Conditions of Business as stated on the Receipt / Contract From and the Conditions of Business folder. Advertising All normal costs of advertising and promotions are borne by Bonhams. In certain cases, Bonhams or the customer may feel the need for special advertising over and above what is usual. In such cases a special plan will be devised, costed and discussed with the customer. When you can expect payment After your goods have sold successfully, you will be sent a sale result notification a few days after the auction, listing the individual lot(s) and the price realised for each item. If you wish to know the outcome on the day, you are welcome to telephone the saleroom about an hour after the end of the auction. Payment is normally made by sterling cheque 21 days after the sale date (providing we have received full payment from the buyer for that lot). You will also receive a settlement statement detailing the charges which have been incurred. All relevant charges are normally deducted before your settlement cheque is prepared and dispatched. Should you request a bank transfer, any charges associated with the transfer will be at your cost. What happens if the item fails to sell You will be charged an unsold fee of ?5 minimum per lot (plus insurance as detailed above). There may be other additional charges such as an illustration fee, see above. You, the vendor, are then responsible for collecting your property from Bonhams. If you wish to re-offer your property for sale you can do so and should discuss further with the department handling your property.

How to Buy at Bonhams How to find out about Bonhams sales This step by step guide to buying at Bonhams is designed to help answer any questions you might have about how to buy at Bonhams. The first step to buying at Bonhams is to find out when and where sales are being held. Sales Diary If you would like to be sent a sales diary please email subscriptions or pick one up from your nearest branch (which you can find by going to the locations page.) Catalogues Catalogues can be bought from our catalogue subscriptions department. You can contact the department on +44 (0)1666 502 200 or email subscriptions. Alternatively you can view catalogues on line by selecting catalogues from the "sales" then clicking on a sale that you are interested in, catalogues are usually available online 2 weeks prior to a sale. On the Internet A full sale calendar of all scheduled forthcoming sales can be found on www.bonhams.com by using the menu at the top of the page. Select the "sales" menu and click on "calendar". You can also see forthcoming sale catalogues this way by then clicking on a sale that you are interested in, catalogues are usually available online 2 weeks prior to a sale. Searching Bonhams.com If you are unsure what sale the item you are interested in is being sold in you can use the quick search facility located on the home page. To use the search facility enter key words such as "diamond ring" and hit go. You can refine your search criteria by selecting advanced search which can be found under the menu "sales". Condition reports Once you have found an item you are interested in bidding for you can obtain a condition report from the department by emailing or telephoning them. Departmental contacts are available at the top of each catalogue page, or at the front of a printed catalogue. You can also find a list of departmental names, email addresses and telephone numbers on the specialist pages, which are located under "specialities" in the top menu bar. Buying at auction Registering to bid Once you have established that you want to bid on an item you need to register with Bonhams. Like many auction houses, Bonhams operates its sales using a paddle bidding system. If you wish to bid you must register before the sale, providing your name and address, and proof of identity and residence, for example your passport or driving license, together with your credit card. In exchange, you are given a paddle - a card printed with your personal number for the sale. At the end of the sale, or when you have finished bidding, please return your paddle to the Cashier's Office or registration desk. Bidding Once you have registered for a sale you are ready to bid. There are a number of ways that you can bid for an item at auction. Attending the sale You will be issued with a paddle when you register at a sale and you must show this to the auctioneer, by raising it, when you wish to bid on an lot. If you are successful in your bidding the auctioneer will make a note of your paddle number and you can proceed to the cashiers office for payment. If you would like to bid on further lots in the sale you can pay for all your items at the end of the sale. If you pay with cash you can take your items away immediately. If you pay by credit card you will liable to a surcharge and you can take you items away immediately. If you pay by cheque you must wait until the cheque has cleared before you can pick your up your items. Bidding over the telephone An alternative for higher value lots is to make a telephone bid. This is particularly appropriate if you want to place your own bids on a specific lot even though you cannot attend the sale yourself. Telephone bids must be booked in advance with the Bids Office. They are available on a first-come first-served basis and may be subject to a minimum lot value. You will also be asked to complete a Telephone Bid Form in the usual way, providing credit / debit card details, proof of identity and residence and your contact telephone and fax numbers. On the day of the sale, a Bonhams representative will telephone you about five lots before your lot comes under the hammer. When this happens, you will be talked through the bidding and asked at each stage if you wish to continue - either until you are successful or until you choose to cease bidding. Leaving an absentee bid by telephone or fax We are happy to undertake placing of absentee bids on your behalf. This means that, with your written permission, we act as your representative to secure an item for you at the lowest possible price. You simply complete an Absentee Bid Form (which you will find printed in the appropriate sale catalogue, or which can be obtained from the saleroom), giving your price limit for any specific lot. This should be the maximum hammer price that you are prepared to pay, remembering to take into account the additional buyer's premium and any applicable VAT. You will be required to provide your credit / debit card details, proof of identity and residence if you are registering for the sale. Alternatively, you may telephone your bid through to the saleroom Bids Office, but we must receive written confirmation from you - either by fax or post - at least 24 hours before the start of the auction. If we receive two bids of equal value, preference is given to the bid that arrives first. On the day of the sale, please check whether your bid has been successful by telephoning the saleroom or Cashier's Office an hour or so after the end of the sale. Otherwise, a successful bid is confirmed by invoice. You must ensure that Bonhams has cleared payment prior to you collecting your lot. Registering to leave an absentee bid on the internet First you need to register with Bonhams. Go to "services" in the blue menu bar Click on "register" Complete the online registration form and hit submit You will receive confirmation of your registration by email from our customer services department within 24 hours You are now ready to bid Leaving an absentee online bid Go to the catalogue select the lot you would like to bid on click on the link "bid/track" enter your username and password Leave a bid Please note that the auction will not be live online, you can only leave a commission bid for us to bid on your behalf. After the sale To find out if you have been successful in your bidding please look at the online results that will be published after the sale. Click here to go to the results page. Payment The price you pay is the amount at which the auctioneer's hammer falls (the hammer price), plus a buyer's premium (a percentage of the final hammer price) and VAT where applicable. You are issued with an invoice made out to the name and address on your Registration Form, which may not be subsequently altered. The invoice breaks down these cost elements. Full details of charges and rates can be found in the 'Conditions of Sale' and 'Important Notices' printed in each catalogue. Methods of Payment Sterling cheque. To be drawn on a UK bank and made payable to 'Bonhams 1793 Limited'. If payment is made by post, please enclose the tear-off slip from your invoice. Cheques drawn by third parties cannot be accepted. If you have a credit or cheque acceptance account with Bonhams, you will be able to take your goods immediately providing the sum is within the agreed limit. Otherwise, it will be necessary to allow at least five working days for the cheque to clear before collecting your purchases Sterling bankers draft. This will need to be confirmed with the issuing bank, prior to acceptance Bank transfer. All transfers must state the relevant sale number, lot number and your bid / paddle number. If transferring from a foreign currency, the amount we receive must be the total due in pounds sterling (after currency conversion and the deduction of any bank charges). Our bank details can be found on the reverse of your invoice or in the sale catalogue under 'Important Notices' Debit cards drawn on a UK bank. There is no additional charge for purchases made with these cards. Debit cards drawn on an overseas bank or deferred debit cards will be subject to a 3% surcharge. Sterling cash. Payments of up to ?5,000 can be made at the Cashier?s Office, either during or after a sale. Collections/Storage/ Delivery If you have bid in person you can proceed to cashiers and pay and collect your item. If you are unable to remove your item immediately you will need to arrange storage and shipping. You can either do this yourself or through Bonhams. Our terms are as follows: For bulky items, or where it is not appropriate for you to remove your purchases immediately, please refer to the conditions in the sale catalogue or contact the saleroom concerned as collection and storage charges may apply for items which are not collected on the day of the auction. We are happy to assist with delivery and will provide a quote to do so. We can arrange for your goods to be delivered to you, once we have received your written dispatch instructions and full payment, including shipping costs. For international deliveries an export licence may be required. Please contact our Shipping Department for further information.

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