Guide to Buying & Selling
We appreciate that your first visit to an auction can be a daunting experience and, to some, it may seem a very complicated operation. In an effort to quell your fears and show you how easy and convenient buying and selling at auction can be, we have put together this guide. Contained in the following guide you will find straightforward answers to the questions we are usually asked by first time visitors.
Firstly, the key items to bear in mind when visiting an auction are choice, convenience and price:
As auctions are not tied to a particular make the choice of vehicles available at auction is tremendous and the 100+ vehicles offered each week at Exeter will include all popular makes and models. However, if the vehicles on display do not meet your requirements, it could be that it would be more appropriate for you to visit on another day - there are special times for newer vehicles and for commercials and our staff will be pleased to advise you.
Buyers - It would take weeks to view the number of cars available at one auction if you were to travel around and view privately or on the forecourt.
Sellers - It is quick and easy and avoids repeated advertising costs, time wasters and the other hassles associated with selling privately. Your vehicle will be viewed by hundreds of prospective purchasers all at one time.
The price realised at auction will be the market value of the vehicle which is, generally speaking, "trade price" and will, of course, differ from the price which would be displayed on the same vehicle at a retail outlet.
The notes contained within this guide are for guidance purposes only and do not form part of any contract.
A Sale By Auction Is Not A Consumer Sale. All Auction Sales are conducted in accordance with our Conditions of Entry and Sale which are displayed at the Auction Centre - copies are available on request. Please ensure that you have read and fully understood these conditions before buying or selling at auction.
When Are Your Auctions?
Exeter Car Auction is held once a week, on a Wednesday and the auction starts at 6pm. We accept entries any day that we are open and the vehicle will be entered into the next available auction. Please endeavour to get your vehicle to us in good time to ensure that there is time to catalogue and advertise the vehicle.
GUIDANCE FOR SELLERS
1. What Does It Cost To Sell My Vehicle?
Entry Fee: £18.00 per vehicle per auction (Inc VAT)
Selling Commission: 6% of the Hammer Price (subject to a minimum charge of £30.00) Plus VAT
(trade commission rates are available on request).
2. When Can I Bring My Vehicle To The Auction?
We accept vehicles for sale from 9 a.m. on the day of the auction. Don't worry if you can't get here before the sale starts, we continue to accept entries until about half an hour after the start of the sale, depending on the number of entries that day. If you are unable to bring your vehicle within these times, we are also open during normal office hours Monday to Friday for entries.
3. Can You Arrange Collection?
We should be pleased to collect your vehicle for sale (please ask for a quote) however, as our transporter is in constant use, we usually require at least 3 days notice, particularly if you are a considerable distance away.
4. What Do I Need To Bring With Me?
The vehicle registration document (V5), Mot certificate if applicable, and the service record if you have one. All vehicles are sold as untaxed as vehicle tax is no longer allowed to be transferred,
5. What Else Do I Need To Do Before I Deliver My Vehicle?
It is advisable to ensure that all your vehicle documentation is complete and up to date. You will need to present the original forms of the V5, Mot, and service history when you are booking your vehicle in. We are unable to accept copies of these documents and do not sell documents to follow.
6. What Happens When I Arrive At The Auction?
On arrival at the entrance gate you will be allocated a lot number and key tag. You will be directed to your parking space and, having parked your vehicle, you then proceed to the booking in office where you will be given an entry form to complete. All vehicles are sold "As Seen" and you will be given a simple entry form to complete.
The following may assist you in completing your form:
Please complete ALL sections - most of the information required will be found on your vehicle documents.
You must answer "Yes" or "No" to the questions printed in red regarding accident damage etc. - "Not Known" is not acceptable. If you are unsure whether your car has been subject to a total loss insurance claim at some point in its life we will be happy to check the vehicle through H.P.I. prior to sale for no charge.
If the vehicle is the subject of a Hire Purchase or other third party claim, you must show the details in the box provided. If you do not instruct us to settle any outstanding hire purchase out of the proceeds of sale, the sale proceeds will be withheld until you have paid the amount outstanding and the finance company concerned have notified us, in writing, that their interest is settled in full.
If you wish to place a reserve price on the vehicle, please indicate this clearly in the box provided. This figure must be the lowest price acceptable and must take into account our commission - "net" reserves will not be accepted. Our Auctioneers will be pleased to advise you with regard to a suitable reserve.
You must write the odometer reading in the space provided on the entry form and indicate by marking the form whether the reading is warranted or incorrect.
Your cheque for the net proceeds of sale will be posted to the name and address provided by you on the entry form so please print clearly.
Please provide a telephone number where you can be contacted during the sale.
If you are VAT registered, please indicate accordingly and state your VAT number.
You must sign the entry form - this is the auctioneer's authority to sell your vehicle.
Download an entry form here
7. Do I Have To Stay At The Auction Until My Vehicle Is Sold?
It is not essential that you remain on site provided you leave a telephone number where we may contact you if necessary. If you do not stay on site and have heard nothing from us by the time the sale is due to end (our staff will be pleased to advise you of the expected finishing time of the sale) please telephone us to enquire if your vehicle has sold.
8. What Happens If Bidding Doesn't Reach My Reserve Price?
If the bidding stops at a figure well below your reserve price then the vehicle is, of course, unsold.
If the highest bid is below but near your reserve price, the auctioneer will "knock it down" as a "provisional sale" and the rostrum clerk will need to ask you if you are prepared to accept the bid so it is helpful if you stand near the rostrum when your vehicle is being offered. You may either accept the bid or tell the clerk you require a higher bid. If the clerk is able to negotiate a price that is acceptable to both you and the purchaser a sale will be agreed. (If you are not at the auction, we will, of course, submit any provisional bids to you by telephone).
If your car is unsold you may collect your keys and documents from the office and take your vehicle away. Alternatively, you may wish to instruct us to re-enter it in the next sale. There will be a further Entry Fee each time the vehicle is reentered. Please remember, though, that vehicles remain on the auction site entirely at the owner's risk at all times.
9. My Car Is Sold - What Next?
If your car was "knocked down" by the auctioneer at or above your reserve price then it has sold but before you leave the auction please enquire in the office that the car is, in fact, sold and that no complications have arisen following after sales checks with H.P. Information
10. When Can I Expect To Receive The Sale Proceeds?
A cheque for the net sale proceeds from Car Auctions will normally be despatched by first class post to the name and address indicated on your entry form at the end of the week in which you sell your vehicle. Commercial Auction payments will be posted within 3 working days of the auction.
11. Who Notifies DVLA Of Change Of Ownership?
The seller, not Husseys, is responsible for notifying DVLA when the vehicle is sold. The relevant section of the registration document must be returned stating where and when you sold the vehicle. This is very important as you may receive a fine if DVLA are not informed of the sale. You should receive confirmation of receipt from DVLA in due course.
GUIDANCE FOR BUYERS
1. Is The Auction Open To The Public?
Anyone can attend the auction; you do not need to be involved in the motor trade. We do not charge an entrance fee.
2. Do I Need To Register Before I Can Bid?
Please complete a red bidding form prior to purchasing a vehicle and ensure that you have the necessary means of payment (see no.7).
3. How Are Vehicles Described?
Vehicles are sold "As Seen" and you are advised to check carefully the descriptions displayed on the windscreen of each vehicle you are interested in purchasing.
Vehicles will bear description sheets on the windscreen and can be found in the large parking area to the rear of the auction building. These vehicles are sold with no warranty whatsoever being given by the seller. It is up to you to determine their condition. No complaints on "As Seen" vehicles will be entertained.
The description sheets on the vehicle's windscreen will also tell you the MOT expiry date,
whether, in a small number of cases, there is no registration document with the vehicle,
whether you will have to pay VAT on the bid price - usually only in the case of commercial vehicles,
whether the odometer reading is warranted as accurate - unless the odometer reading is warranted by the vendor to be accurate and announced as such by the Auctioneer, it should be considered incorrect and should be disregarded.
4. Can I Start The Vehicle?
Prospective purchasers are not permitted to start the engine of any vehicle prior to purchase. The auction staff will drive the vehicles into the sale ring when you will be able to hear the engine.
5. What Else Should I Do Before Bidding?
Decide exactly how much you want to spend, bearing in mind that you will have to insure and tax the vehicle before you can put it on the road.
Go into the auction hall and watch a few vehicles being sold. Listen to the way the auctioneer describes each vehicle, note how the bidding progresses and the general procedure.
If you are not in too much of a hurry to buy a vehicle, it is often a good idea to attend one or two sales as a spectator before bidding for the first time.
Please ensure that you have your £200 deposit ready and have completed a bidding registration form prior to the auction. Hand it to the auctioneer's clerk/upon your first purchase.
6. How Do I Bid?
When you have decided which vehicle you are interested in, wait until it enters the sale ring and listen carefully to the auctioneer's description before bidding. Stand or sit where you can be seen by the auctioneer and make your bids clear by raising your hand in the air.
7. What Do I Do When My Bidding Is Successful?
If you are the highest bidder and the vehicle is 'knocked down' to you by the auctioneer, you must go immediately to the rostrum and give your name, address and bidding registration form to the rostrum clerk and pay the £200 cash deposit.
The balance of your purchase price must be paid to the cashier before close of business on the day of the sale in cash, bankers draft, building society draft, or debit or credit card. (There is a charge 2% (plus VAT) on the invoice total for credit card payments and a 1% (Plus VAT) surcharge on cash payments). Most customers prefer to pay by Debit Card as this is a quick and convenient method which does not attract any surcharge.
8. Is There Any Additional Amount To Pay On Top Of Your Price I Have to Pay?
In addition to the bid price, a service charge is payable which includes participation in the Title Protection Scheme in accordance with the terms of this scheme as displayed (copies available on request). The Title Protection Scheme affords protection to purchasers against the following risks:
Where the vehicle:
is proved to be stolen.
is the subject of an outstanding HP or other finance agreement.
It is a condition of the Title Protection Scheme that purchasers cross-check the vehicles identification numbers with those given in the registration document and notify the Auctioneers within 24 hours of purchase if there are any discrepancies, if any number appears to have been altered or if any number is not in the usual place.
The amount of the service charge is dependant on the purchase price of the vehicle - details of current fees are as follows:
£25 per vehicle up to £99
£55 per vehicle £100 to £199
£60 per vehicle £200 to £299
£70 per vehicle £300 to £499
£80 per vehicle £500 to £699
£90 per vehicle £700 to £999
10% on vehicles £1,000 and above
*** All The Above Are Plus VAT ***
The service charge is payable on every vehicle purchased
and is NOT REFUNDABLE UNDER ANY CIRCUMSTANCES.
|Trade Rates are available
9. When Can I Take My Vehicle Away?
Having paid for your vehicle and been issued with a receipt, you may collect your keys and documents and remove your vehicle from the auction premises.
NOTE: It is an offence to drive a vehicle on the road without a Road Fund Licence, current MOT certificate (if applicable) and, of course, Insurance so, if necessary, you may wish to make arrangements for the vehicle to be removed by transporter.
OTHER SALES CHARGES:
Entry Fee: £18.00 per vehicle per auction (Inc VAT)
Selling Commission: 6% of the Hammer Price (subject to a minimum charge of £30.00) Plus VAT
(Trade commission rates are available on request).
The selling and buying fees for Commercial Vehicles, when sold within one of our monthly Commercial Vehicle auctions, are the same as the fees quoted above for cars.
'LIVE' CONTRACTORS PLANT AUCTIONS ONLY
For Sellers Commission is charged at 15% on the first £100.00 and 5% on the balance. (Min £2.00 per lot, £2.00 on unsolds)
For Buyers there is a Buyers Premium of 10% (Plus VAT) on all lots but there is a maximum Buyers Premium of £250.00 (Plus VAT) per lot.
OTHER AUCTIONS (INCLUDING ONLINE AUCTIONS)
Please see specific auction details for listings of charges.
*** All the above fees are per lot and are plus VAT unless otherwise stated ***
We hope that we have been able to answer many of your questions above. If you wish to speak to any of the auction staff then please ring our auction centre on 01392 425481 during normal office hours
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