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Auction

Buying & Selling at Our Auctions

Buying

Buying is very simple, there are a few different ways you can bid. But first things first, you must register your name and address with us so we can assign you a bidding number.
Once you have your bidding number you can then bid at the auction by waving, nodding, shouting, winking or however you want to get the attention of the auctioneer. If you have the winning bid then you simply say or show your number to the auctioneer, you can then check out at the office, if there are numerous items you are bidding on then you can just wait till the end and sort payment in one go.
If you can’t make sale day then you can leave a bid in the office at the viewing day or by telephoning in or contacting us online, we also have live online bidding through EasyLiveAuctions. When a bid is left the auctioneer will attempt to purchase the lot for you at the cheapest price possible, allowing for reserves & the lower end of the estimate, opening bidding with your bid first.

Selling

Selling is also a very simple process, items can be consigned to us via courier, or brought to us yourselves. Our staff can quickly sort through your items to select pieces sellable through our auction. If you are unsure if your items will be sellable through auction, we usually suggest emailing pictures to us at info@drakesauctions.co.uk, and we will quickly get back to you to let you know which items are sellable or not. If the item/s are too large for you to bring, we can arrange a collection for a reasonable fee, depending on amount of items and how far we have to travel.

From there, an inventory of your items will be drawn up on a duplicate sheet, and a staff member will advise you on guide prices & if setting a reserve is appropriate. Once your items are catalogued, a full list of your items, with guide prices, set reserves (if applicable) & lot numbers will be emailed to you, to ensure your satisfaction.

From there, your items will usually be entered into the next auction, which are held every 2 weeks. Items deemed of special interest & higher value may be selected for a quarterly ‘Antiques’ sale, at the auctioneers discretion. Once your items have been offered for sale, payment follows on the Monday after sale, usually by bank transfer. Unsold lots are usually entered into a following sale. However, this is at the discretion of the auctioneers, and it may be deemed that items that had very little interest shown in the first sale are best removed by the vendor, to save concurrent sale fees.

If you have any questions, you can contact us over the phone and talk about the item/s, email us with photos, or the most common practice is for you the vendor to bring items straight to our office and we either accept or reject depending on sale-ability.

When selling items with us we take your personal details, list of entries and preferred payment method, and ask you to sign our terms and conditions about auction commissions etc, but we will explain this to you when your filling out the form.

Both buying and selling is simple and our helpful team will run you through the processes to make sure you understand commissions, and the full sale process. We take great pride in welcoming great numbers of new people each week, and making the whole process as easy to understand as possible.

Terms of sale & entry of goods:

Acceptance of goods for auction is entirely at the discretion of the Auctioneer.

By instructing Drake’s Auctions to sell items by Public Auction, I am the true owner of the lot(s) or am authorised by the true owner to sell the lot(s). I understand that the cost, if any, of conveying the items to the Sale Room shall be borne by me & that Drake’s Auctions shall not be liable for any loss or damage to the item in transit. All lots will be sold without reserve unless clearly stated on this form when goods are submitted.

When lots are submitted for sale with a reserve it will be given one sale at the set reserve, if unsold it will be entered for a second sale with the reserve lowered 30%. If after two sales it fails to sell it must be collected & unsold lots fees paid by the vendor within 3 days of the sale. The auctioneer will at his discretion dispose of the goods or enter them in a 3rd sale with no reserve to cover auction costs, unless contacted and instructed otherwise by you the vendor after the 1st or 2nd sale. All goods entered remain at the discretion of the auctioneer, and may be removed after, or even before, a single sale, should it be deemed the item is of too low a value, or otherwise poses a risk in selling due to (but not limited to); serious defects, failing a PAT test, defects which make it dangerous.

Auctioneers discretion: Unless otherwise agreed, auctioneer has 10% discretion on reserve price. This means the auctioneer may sell at up to 10% below reserve price. Electrical items will be PAT tested at a cost of £3.60 per item, which will be deducted from your invoice after the sale has been completed, in the case of unsold electrical items they cannot be released until the PAT testing fee has been paid. Auctioneer reserves right to safely dispose of items failing PAT test and deemed unsafe at vendor’s expense. Drake’s auctions will inform the vendor of the progress of their items by email only. It remains the responsibility of the vendor to keep up to date with how their items are progressing through the auction. It is also understood that consent is given for items to be sold via private treaty post-sale, where it has not reached reserve, and consent is given for the auctioneer to bid on the vendors behalf, up to one increment below reserve.

Lots marked ‘I agree all lots to be auctioned without reserve’ will be offered without a minimum price (we do not sell below £5 value) in an attempt to sell all vendors items as quickly & expediently as possible.

Lots marked ‘I agree all lots to be sold with auctioneers discretion’ means that if the auctioneer deems it appropriate, items may be either held back for more suitable sales, or not offered at a price the auctioneer deems too low, where we feel the item will fetch a better price by being offered for sale again in a future auction, rather than being sold.

Commission rates; 18% (this is inclusive of VAT)

We charge a £2.50 lotting fee (this includes VAT), this is for each “lot” entered. Items can be put together to keep this cost down.

Withdrawn lots: lots withdrawn after being catalogued are subject to £5 admin fee.

BACS Payments are free of charge. If payment by cheque is required there will be a £2 handling & postage charge. We reserve the right to hold payment until 4 days after sale, and to withhold payment if buyer has failed to pay, in which case your item will be re-entered into the following sale.

Buyers Terms & Conditions

Upon the hammer falling, the highest bidder shall be the buyer.  The Auctioneer reserves the right to settle any and all disputes, and reject bids as seen fit, for any reason. When the lot is sold, the Buyer shall pay the Auctioneer, in full the hammer price (plus VAT when Applicable), together with a premium of 15% of the hammer price on the day of the sale, and if applicable, further premium for online bidding.
Upon request, buyers shall provide auctioneer with names, addresses and if required bank and other references.
The ownership of the lot shall become the Buyer’s responsibility as soon as the hammer drops.  Although a lot may not be removed from the premises until payment in full has been made.  All items contained within the lot MUST be removed or charges will apply.
All lots must be removed at the Buyer’s risk and expense on the day of the sale, unless previously arranged with the Auctioneer.
If payment is not made or goods are not removed as required within these terms and conditions the Auctioneer may reject any bids made by or on behalf of the Buyer at any future Auction, or obtain part payment before accepting any future bids.
The Auctioneers will, on the Buyer’s written instruction, execute bids on their behalf, but neither the Auctioneer, his Employees or his Agents be liable for any neglect in doing so or failure to do so.
All goods are sold as seen and no warranty or guarantee is given.  No warranty whatsoever is given by the Auctioneer or the Vendor in respect of any lot, and any warranties of conditions whether expressed or implied by statute, common law or otherwise are hereby excluded.  It is the Buyers responsibility to rely on their own judgement in respect of goods purchased. Items described by the Auctioneer are only a basic description unless otherwise advised by the Vendor. Items specifically listed as ‘AF’ will have obvious defects that may be noticed only by the most cursory of inspections, but items with defects are not limited to ‘AF’ listed goods. We are normally unable to carry out a detailed, or any, examination of lots in order to ascertain their condition in the way in which it would be wise for a buyer to do. Intending buyers have ample opportunity for inspection of goods and, therefore, accept responsibility for inspecting and investigating lots in which they may be interested. Post 1950 Furniture: All items of furniture included are offered for sale as works of art, for this reason items may not comply with the Furniture and Furnishings (Fire) Safety Regulations 1988 and for this reason, they should not be used in a private dwelling.

Estimates – Estimates are used to help the buyer gauge what sum may be involved in the purchase of the lot. The bottom value of an estimate may represent the reserve, but will not be lower than it. It is by no means definitive and excludes buyers premium & online sales premium.
ELECTRICAL ITEMS – We offer a 48hr money back guarantee on items found to be not working when sold as an electrical item and having been issued with a PAT test. The 48hrs commences from the hammer falling on the sale of the lot.
LEFT BIDS – All commission bids must be left at least 15 minutes before the auction commences. We cannot guarantee to execute bids left after this. If you have left a bid on an item please be prepared to pick the Items up within the allotted time scale.
COLLECTION OF GOODS – All lots should be paid for and collected by 4.30pm sale day unless otherwise agreed. Any lots uncollected by 12pm Wednesday after sale will be removed from the saleroom, placed into storage and subject to a £3 per day per lot storage fee. After 1 week uncollected lots will be re-lotted and subject to re-lotting fees and uncollected commission. We are able to carry out low cost local deliveries as well as advise on national deliveries. However, collection of goods remains solely the buyers responsibility. All items from lots must be removed, left items will be subject to a disposal fee. We have full discretion over charges, and always prefer to work with our customers where possible.
Any persons not adhering to these conditions will be barred from our auction site and online bidding.
We reserve to change our terms without giving notice, please check you are up to date with our terms. If there is something you do not understand please ask and we will do our best to help you. If you bid on an item and win the lot it denotes that you agree to these terms and conditions

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