William George Online Auctions.- Bidding at Auction Explained (2024)

Definitions

1. When used in these Conditions, the following terms highlighted in bold shall have the following meanings:Auction: a public or private sale in which Goods belonging to the Seller are sold to the highest Bidder by the Auctioneer;Auctioneer: Auction Rebel T/A William George or any other company within the Group (including their employees and agents and any person to whom conduct of the Auction is delegated under clause 5.11);Bid: an offer to purchase a Lot in accordance with these Conditions submitted by a Bidder:Bidder: a person bidding for a Lot;Buyer: a person who submits the highest Bid for a Lot that is accepted by the Auctioneer;Buyer’s Premium: The Buyer shall pay a Buyer’s Premium of 22% plus VAT, unless otherwise indicated;Goods: any item (or number of items) consigned to the Auctioneer by the Seller to be placed into a Lot for sale at an Auction;Group: any entity that is a ‘subsidiary’ or ‘holding’ company as defined by s.1159 Companies Act 2006;Lot: (a collection of) Goods listed (whether in a catalogue or otherwise) by the Auctioneer that are available to be purchased at an Auction;Overseas Purchaser: a Buyer whose residence is outside the UK;Seller: a person who has placed Goods with the Auctioneer for sale and who has the legal and beneficial title to the Goods listed in a Lot and/or any agent(s) authorised to act on their behalf.VAT: Value Added Tax at [the current rate] of the Lot price, unless otherwise indicated;1.2. Any person who attends an Auction and/or submits a Bid at an Auction heldor organised by the Auctioneer, whether by electronic means or otherwise, is deemed to have read and accepted these Conditions by reference to their attendance at the Auction or submission of a Bid.1.3. To the extent that these Conditions are inconsistent with any specialconditions set out or referred to in the Auction catalogue or announced at the Auction, the special conditions shall prevail.1.4. References to a ‘person’ in these Conditions shall (where the context requires) include a natural person, corporate or unincorporated body (whether or not having a separate legal personality) and that person’s successors and permitted assigns.

The Seller’s Instructions and Warranties

2.1 The Seller warrants that: -(a) they have the full unencumbered legal title and express authority to sell the Goods that the Auctioneer has placed into in a Lot.(b) the description and content of the information listed by the Auctioneer (whether in a catalogue or otherwise) relating to any Goods is accurate and not deliberately or negligently misleading.(c) Viewing is facilitated and encouraged, and the bidder should take actions to satisfy themselves through viewing and/or making the necessary additional enquiries that they are happy to place a bid with the information they have prior to bidding and not afterwards.Requests to view and/or make additional enquiries after the buyer has placed bids and/or the auction has closed will not be permitted prior to final settlement of the invoice.Lack of time or inability to travel to the location will not constitute reasonable grounds for defaulting on payment. If an enquiry is submitted and no answer is provided prior to the close of auction, then the auctioneer accepts no liability for any bids placed and the general rule of thumb for bidders should be followed at all times namely If you are unsure, do not bid.(d) subject to any contrary powers of the Auctioneer set out in these conditions, he will sell the Goods placed in a Lot for the price indicated in a Bid submitted by a Buyer providing that the conditions in clause 4.1 are satisfied; and(e) he will not contact any Buyers or potential buyers directly in relation to a sale of any Goods whilst they are listed in a Lot.2.2 If the Seller’s instructions are given by the Seller’s agent, the Seller’s agent warrants that he has the Seller’s authority: -(a) to instruct the Auctioneer;(b) to give the warranties set out in clause 2.1 above; and(c) to instruct the Auctioneer to act in accordance with any special conditions.

The Auctioneer’s Remuneration

General rules governing bidding and buying

4.1 If a Bidder submits a Bid to purchase any Lot(s), they must complete the transaction with the Seller providing:(a) their Bid has been accepted as the highest value Bid for the Lot by the Seller; once the Auction for that Lot has closed;(b) the Auctioneer declares that Bidder to be the Buyer in accordance with clause 5.7 and(c) the value of their Bid is at least equal to or greater than any minimum reserve price for the Lot set by the Seller (if any).4.2 Upon satisfaction of the conditions in clause 4.1 a Buyer can only terminate a contract to purchase the Lot if the Goods comprising the Lot do not materially comply with the information provided in the Auction catalogue in relation to them and any such issue should be raised with the vendor and auctioneer at the earliest possible opportunity and in any case within 10 days of receipt of the goods.4.3 Unless the Auctioneer has previously acknowledged in writing that the Bidder bids as agent on behalf of a named principal, every Bidder shall be taken to bid on his own behalf as principal.4.4 Placing a Bid entitles the Auctioneer and any Seller to rely on the Bid as a genuine offer to purchase the Goods contained in the Lot.4.5 If the Auctioneer has earlier acknowledged in writing that the Bidder bids as agent on behalf of a named principal, the Bidder warrants that he has the authority of his principal to make each Bid he makes.4.6 The Bidder has the right to view all Lots. If the Bidder wishes to view a Lot, the Bidder must contact the Auctioneer at enquiries@williamgeorge.com The Bidder must give the Auctioneer a minimum of 24 hours’ notice to arrange a viewing of a Lot. Please note that the Auctioneer cannot guarantee any viewing of any Lot in the final 24 hours of the Auction. A refundable deposit may be requested at the Auctioneers discretion to facilitate viewing of lots.4.7 Any request for information on a lot, must come via email, either through the lot enquiry form on each lot, or via email to - enquiries@williamgeorge.com Potential bidders must register for an auction to receive information about a lot.

Conduct of the Auction

5.1 The Auctioneer offers each Lot as an agent of the Seller and not as principal unless otherwise indicated in the Auction catalogue.5.2 Any Lot may be subject to a minimum reserve price set by the Seller unless otherwise indicated in the Auction catalogue.5.3 The Seller or his representative or the Auctioneer on his behalf may Bid for any Lot unless otherwise indicated in the Auction catalogue.5.4 The Auctioneer may at any time before the fall of the hammer withdraw or divide any Lot or combine any Lots.5.5 With the previous written consent of the Seller, the Auctioneer may sell any Lot by private sale before or after the Auction.5.6 Any person wishing to place a Bid for a Lot at an Auction organised by the Auctioneer must register with bidspotter.co.uk, i-bidder.com, the- saleroom.com williamgeorge.com or any other website we advertise on, their relevant details and register a valid credit or debit card before they will be able to Bid.5.7 A Bidder who submits the highest value Bid for any Lot before an Auction is closed may be declared as the Buyer by the Auctioneer.5.8 If a Bidder submits a Bid within 10 minutes or less of the closure of any Auction, the Auctioneer reserves the right to automatically extend the time during which Bids can be submitted for a Lot by ten (10) minutes.5.9 The Auctioneer may decide whether there is a dispute between Bidders, summarily determine the dispute or immediately again offer the Lot for sale, in each case without being required to give a reason.5.10 The Auctioneer shall in every other respect decide how the Auction is to be conducted and without being required to give a reason.5.11 The Auctioneer may in his sole discretion delegate to a person whom he believes to be competent to conduct the auction in accordance with these Conditions.5.12 The Auctioneer reserves the right to reject any bids which the Auctioneer feels in its sole discretion does not reflect reasonable value.5.13 The Auctioneer has a right to report suspicious activities to the relevant authorities, at any time.5.14 The Auctioneer shall notify all successful Buyers via email by way of invoice or payment request. Buyers can also confirm which lots they have won within their account on the website www.williamgeorge.com5.15 The Buyer can access the Auction atwww.williamgeorge.comwww.bidspotter.co.ukwww.i-bidder.comwww.the-saleroom.com5.16 We cannot be held liable for any errors on the website, problems with registration / accepting bids.5.17 The description of the item should hold precedence over the photographs. We reserve the right to use stock / catalogue images if original photographs cannot be used. Caution should be used when bidding on an item with only a stock image, as colours and sizes of an item can vary from the sale item. No warranty is given.

After the Sale

6.1 Upon the Auctioneer declaring the Auction for any Lot to be closed and the Lot to be sold, the Buyer shall immediately arrange to pay the value detailed in clause 6.5 to the Auctioneer by way of direct payment into the nominated bank account of the Auctioneer (details of which shall be provided to the Buyer by the Auctioneer).6.2 Payments shall be in pounds sterling (£) (unless otherwise indicated).6.3 All prices are exclusive of VAT or other applicable taxes, delivery charges and insurance unless otherwise indicated by the Auctioneer (whether in the catalogue or otherwise).6.4 Within [1] business day of the closure of the Auction in relation to any Lot the Buyer shall confirm the identity of any person on whose behalf he has purchased the Lot (if any).6.5 The Buyer shall pay the following sums to the Auctioneer in full within 2 days of the Auction:(a) the balance of the price due for the Lot together with any VAT due (including but not limited to the Buyer’s Premium); or(b) where the final price for the Lot was not immediately determined upon the closure of the Auction for the Lot, the value as summarily determined by the Auctioneer, whose determination shall be final and binding, of all or part of any Lot.(c) where the total amount payable is less than £1000 then the buyer has the option of making payment by Credit or Debit Card by following the links in the invoice emailed to them. It is the responsibility of the buyer to undertake this action and payments will not be automatically debited from any registered card following the close of auction.(d) where the total amount payable is equal to or in excess of £1000 then payment by card will not be facilitated and a bank transfer will be required. A bank transfer can still be made for payments under £1000 and for payments of this amount the buyer may select their preferred method of payment. No other payment methods are accepted.In every case time shall be of the essence. Deadline is 16:00hrs on the second day after the auction.6.6 The Auctioneer may at any time in his sole discretion grant the Buyer an extension of time, in which case the Buyer shall pay the auctioneer in full in accordance with such extension before moving or removing the Lot.6.7 If the Buyer fails to make any payment due to the Auctioneer under these Conditions by the due date for payment, then, without limiting the Auctioneer’s remedies under these Conditions, the Buyer shall:6.7.1 be contacted by the Auctioneer by email and telephone;6.7.2 pay storage charges for the Lot at £20 per lot per day (more substantial items such as cars, plant, machinery or with a value over £10,000 shall be charged at £50 per Lot per day);6.7.3 be responsible for paying any transportation costs of the Lot, this includes any charges connected with returning the item back to the Seller;6.7.4 pay interest on the overdue amount at the rate of 8% per annum above the Bank of England’s base rate from time to time. Such interest shall accrue on a daily basis from the due date until actual payment of the overdue amount, whether before or after judgment. The Buyer shall pay the interest together with the overdue amount.6.8 Until the Buyer has complied with clause 6.5 above: -(a) title to any Lot shall not pass to the Buyer;(b) the Lot shall be at the Buyer’s risk;(c) the Auctioneer shall have a lien over any Lot purchased by the Buyer at the Auction; and(d) if the Buyer effects or purports to affect a resale or any other disposition of all or part of the Lot, the Buyer shall hold the proceeds of resale or other disposition on trust for the Auctioneer and the Seller.6.9 On written request by the Highest Bidder the Auctioneer shall provide a VAT invoice in a proper form, if appropriate.

Removal of the Lot

7.1 The Buyer may not remove their Lot until after the end of the Auction and the Auctioneer has confirmed that they are holding cleared funds received from the Buyer without the prior written consent of the Auctioneer.7.2 After paying the sums specified in clause 6.5 above, the Buyer must remove the Lot bought within 5 days of the end of the auction. In each case time shall be of the essence.7.3 The Auctioneer may at any time at his sole discretion and on terms reasonably specified by him grant the Buyer an extension to the time specified in clause 7.2 above.7.4 If the Lot bought is or includes a motor vehicle, no warranty is given by the Auctioneer that the vehicle may safely or lawfully be driven on any road.7.5 When removing any Lot, the Buyer: -(a) is responsible for detaching any Lot fixed to land and must do so safely and lawfully and must not use flame cutters, explosives or any other dangerous equipment or process without previous written permission signed by or on behalf of the Auctioneer; a written Health and Safety plan with method statement may be required.(b) must use safe and lawful means of removing the Lot;(c) shall indemnify the Auctioneer and Seller against any loss damage legal or other expenses and any claim arising from the detaching of the Lot or its removal; and(d) shall have adequate insurance in respect of such indemnity and shall on request produce to the Auctioneer a receipt for the last premium due or other sufficient evidence that such insurance has been affected and remains in force.7.6 The Auctioneer reserves the right to stop the removal of any Lot if in their sole discretion they do not believe the Lot is being moved in accordance with clause 7.5 above.7.6.1 It is the Buyers sole responsibility to arrange for collection or delivery of the Lot.7.7 Lots will not be released, even when purchased, if there is an outstanding invoice, in this or another auction.7.8 Purchasers should contact the vendor or agent, once an invoice has been paid to ensure there are no lifting out fees for large, outsized or dangerous goods.7.9 There is no guarantee of collection in the first 48 hours after an auction.7.10 Once an item is removed from the seller’s location by the buyer or a third party on their behalf, then it is deemed to be acceptable and correct. If in doubt, then the buyer is advised not to remove the item and inform the vendor and auctioneer immediately to seek a resolution of the case at the earliest convenience.7.11 Any issues relating to an item should be taken up with the vendor at the point of collection.

Liability of the Auctioneer

8.1 Goods sold in any Lot are sold as seen, with all faults and imperfections and the Auctioneer is not responsible for any defects whatsoever (whether latent or not).8.2 No warranty or representation of any kind is given or authorised to be given by the Auctioneer with regards to any Lot.8.3 The Auctioneer has no liability to the Buyer for any delivery or collection costs. If the Buyer is unable to collect any Lot, the Buyer is to contact the Seller, once the invoice has been paid.8.4 The auctioneer is acting as the sales agent for the lots in auction. Any problems with a lot should be taken up with the vendor.

Overseas purchasers

9.1 If the Buyer is an Overseas Purchaser they must advise of their intentions to export the Lot immediately and notify the sales co-ordinator of the Auctioneer by email: accounts@williamgeorge.com9.2 Overseas Purchasers will be required to provide the following information: (a scanned copy of):(a) their passport(s);(b) another form of identity, (i.e. drivers licence, name, address, UK agent(if any), telephone and fax numbers);(c) full details of their national bank and their UK corresponding bank; and(d) details from their bank confirming method of payment.9.3 It is the Buyers’ responsibility to ensure that:(a) the country to which the Goods are destined to got to have no import restrictions on the Goods that they have purchased;(b) the country has no import licence restrictions or a restriction on currency allocation;(c) the country has no prolonged inspection procedure, which might cause excessive delay in allowing the Goods to be imported;(d) they employ a reputable freight-forwarding organisation; and(e) the Buyer has read and agreed with these Conditions.9.4 If there are any special arrangements that the Buyer wishes to make with the Auctioneer, the Buyer must contact the Auctioneer at least three business days before an Auction takes place.9.5 We reserve the right to insist a deposit is paid before bidding from an overseas bidder.

The buyer portal at William George.

Spotted what you’ve been searching for and ready to take the plunge?
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If you’ve registered an account and you want some handy tips on bidding then you’re in the right place!
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If not, then you can register here or read our FAQ’s on the registration process here.

How do I place a bid ?

Once you’ve navigated to the lot you wish to bid on you will see a box displaying all of the bidding information.

The current bid shows you the bid you are competing against. In the top right hand corner you will see in blue the number of bids that have been made against the item so far. Below that it shows you the next minimum bid. This is the minimum amount you would need to enter to become the leading bidder. You won’t be able to enter an amount below this figure.
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Below that is the all-important box for you to enter the amount you would like to bid.

Before entering your bid you’ll want to understand

what you’ll end up paying.
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Once you enter your bid amount you’re ready to hit the Place Bid button which will register your bid.
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If this bid is higher than the previous bidders maximum bid, then you will become the leading bidder as shown below.

What is a maximum bid ?

The maximum bid feature allows you to set the maximum amount you would be prepared to make and allows the system to bid on your behalf as further bids come in from other bidders.
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It will always seek to win the item at the lowest possible amount but will continue to bid up to your maximum limit without you having to return to the site.

If you place a bid, and another bidder has placed a higher maximum bid, then you will note that you will be instantly outbid. You will then be able to choose if you wish to bid again or not.
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If you place a maximum bid and another bidder places a bid equal to your maximum bid, then your bid will take precedence as it was made first. They will need to bid again to become the leading bidder.

What is a reserve price ?

A reserve price is the minimum bid the seller will accept to sell the lot in question.

If a reserve price is set, and a lot closes with a bid below that reserve price, then the item will not be sold.
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We host entire auctions with no reserve, meaning the bidding can start as low as £1 and the lot will be sold to the highest bidder no matter what the final bid is.We also host auctions which do have reserves.

How do I know if an item has a reserve price or not ?

Where an auction or a lot is listed with no reserve it will say so in the title, and in the lot description. In the bid entry box there will be no reference as to whether a reserve has been met or not.
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Where an item is listed with a reserve, you will see a note at the top of the bid entry box which states either “Reserve not met” or “Reserve met” as shown below.

What happens if I am the leading bidder but the reserve is not met ?

You will not be invoiced for a lot in this case if the lot closes with you as the leading bidder.
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If the lot is still active, you can elect to bid again as many times as you wish to see if you are able to meet the reserve within your budget.
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Please note, once the reserve is met, you will be invoiced for the item and legally contracted to complete the transaction so once you’ve reached the most you are willing to pay, (taking account of the additional fees as described here) (link to what will I end up paying in Orders FAQ section) it’s a good time to stop bidding even if you haven’t met the reserve.
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If you are the leading bidder when the lot closes, but have not met the reserve, we may contact you to discuss a potential purchase at a negotiated price.
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Please note: Only the leading bidder will be contacted in this case.
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In the event that a seller wishes to accept your bid at an amount lower than their original reserve, we will always contact you to confirm you are happy to proceed before lowering the reserve to meet your current bid.

When do most people place their bids ?

We run most of our auctions for a minimum of 14 days. You are able to place bids from the moment the auction is published, right up until the last second.

Each lot within an auction catalogue will have its own end time, usually somewhere between 10 seconds and 1 minute after the preceding lot.

Each lot’s end time will be clearly visible in the bid information box.

Most of the bidding tends to occur in the final 24-48hrs of an auction and there is likely to be a flurry on bidding activity in the final 1-2hrs, right down to the last 10 minutes.

What happens if I bid with 10 mins or less to go ?

Any bids placed inside the final 10 minutes of a lot will reset the clock to 10 minutes, effectively delaying the end time for that lot.

This prevents ‘sniping’ which allows people to use software to place a winning bid at the last possible moment. Re-setting the clock in this way allows all interested parties a fair chance to bid again and ensures the lot goes to the rightful winner.

It replicates the feel of a traditional ‘in-the-room’ auction and is the only way to maintain the integrity of the auction process for both buyers and sellers.

Does this mean the lot might go on forever ?

Technically yes, lots can continue for an extended time, as they would in a traditional auction where you could attend and raise your paddle! It adds to the excitement and staying power is part of what it might take to get your hands on something special.
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In practice though, most lots will come to a natural conclusion within a reasonable time-frame.

How will I know if I have been outbid ?

Don’t worry, you’ll get an email notification to your registered bidding account email address when you are outbid on a lot. Keep an eye on your inbox to stay ahead of the competition.
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We also send out reminders in the latter stages of an auction so you don’t miss out on the action.
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Using the maximum bid feature is a sensible way to go if you aren’t around when the lots you want are going to close!

How will I know if I’ve won ?

You can now log in to our all-new portal and navigate to your ‘Buy’ homepage.Here you will see at a glance your most recently won lots and your winning bid.
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Within an hour of the auction (usually much less) you will be able to view, download and pay your invoice from your recent invoices section. Click here for further information on Orders & Payments.

Can I retract my bid ?

We strive to provide our bidders with all the information they need to make an informed decision about bidding and their budget.
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We provide ample opportunity for bidders to raise enquiries, do further research, view lots and ask questions.
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For these reasons we are unable to retract bids placed. It is unfair to other bidders and to sellers to do this.
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Please think carefully about your decision to bid and the amount you are prepared to bid. Respecting the auction process helps us maintain a fair and vibrant marketplace for all our users to enjoy safely.

What if I’ve made a genuine mistake ?

There are circ*mstances where a genuine mistake is made and in those events our experienced, customer focussed team will be able to support you.
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For example, it will be obvious to us if you have accidentally typed an extra 0 onto your bid and bid £1000 instead of £100.
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If you have bid on the incorrect lot in error, and you were wanting to bid on an alternative lot, then our team will support you in making the correct bid before retracting the bid made in error.

What are your tips for successful bidding ?

Getting into this whole auction thing? Want to win more lots more of the time?Or perhaps you’d like to learn more about selling at auction?
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Click here to check out our blog where you will see all the latest articles to help you get the most from your auction experience!

The buyer portal at William George.

A quick overview of the buyer area of the portal.