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Frequently Asked Questions

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When is your next auction?

Please visit our upcoming auctions page for a list of our upcoming sales  - click here

Bidders can attend in person, or alternatively you can bid online, by phone or via commission.

 

How much does it cost to buy a motor vehicle or collectible?

Like the majority of auction houses, Iconic Auctioneers charge a buyer's premium as follows:

Motor cars: 12.5% plus VAT (15% including VAT) on the first £300,000 of the hammer price and 10% plus VAT (12% including VAT) on the balance thereafter

Motorcycles: 15% plus VAT (18% including VAT) 

Automobilia and watches: 20% plus VAT (24% including VAT)

Registration numbers: 10% plus VAT (12% including VAT)                                                                 

Can I see the catalogue for your next auction?

When the catalogue is ready there will always be a link on our home page to the E-Catalogue. Printed versions are also posted out to vendors and selected buyers and are available to purchase at the auction.

How do I view and inspect the vehicles and automobilia?

Our website has detailed descriptions, photographs and video content where possible in order to show as much of the car, motorcycle and automobilia. All lots and any associated paperwork will be available for inspection at the auctions.

 


 

Will I be able to view the history files too?

We have a dedicated documents desk at each of our auctions where you can view the respective history files for each lot. 



How can I bid?

To bid in person, visit the registration desk in the auction hall and complete the short process with one of our team.

To bid by phone or commission you can do this at the registration desk or create an account/or login to your account and complete the registration process. Once you have created your account, please then submit your registration directly against the lot(s) you wish to bid on.

Bidding online can be carried out on our website and the above instructions apply, or you can register directly with The Saleroom.

Bidding with The Saleroom incurs an additional fee of 1% plus VAT on the hammer price. Bidding via our website is free.

What happens when I 'win'?

Once the lot is hammered to you, the winning bidder, a legal contract is formed and you will be sent an invoice by email immediately following the sale.

Payment for your purchase is due by 5pm the next working day following the auction.

Due to venue restrictions we need to be clear of the site by 1pm on the Monday following the auction. If you wish to collect your vehicle, rather than having it transported with our partners EM Rogers, we will need cleared funds before we can release the vehicle to you.

All documents and paperwork, excluding the V5c, will be placed in the vehicle in a Iconic Auctioneers carrier bag.

The V5c will be taken back to our offices to be processed on your behalf. The admin team will contact you to ask how you would like the V5c registering.

What payment methods do you take?

Payment can be made by bank transfer or in person with a debit card (up to £20,000) or credit card (up to £5,000).

We cannot accept cash payments, nor do we accept AMEX.

 

At what point do I insure my purchase?

Whether you're a motor trader or an independent purchaser, once the hammer falls, the risk of the lot passes to you. Our insurance partner, Kingfisher Insurance, are ready to help you and can provide you with a Kingfisher Motor Trade quote or a Peter James Insurance classic vehicle quote. Contact Kingfisher Motor Trade on www.kingfisherinsurance.com/motortrade +44 (0) 3301 744701 or Peter James Insurance on www.peterjamesinsurance.co.uk +44 (0) 3301 249552.

What about road tax?

Since 1st October 2014 road tax is no longer transferred as part of a sale. The new keeper must tax the vehicle if they want to use it on the road or complete a SORN if the vehicle is being stored. 

What happens with the V5c?

We will process the V5c and it will be registered to the new keeper online with the DVLA within 14 working days. The details used will be those that the buyer registered with, unless we are notified in writing otherwise. 

Where lots have entered the UK on a temporary admission, we will instruct the import agent to obtain the NOVA reference number on your behalf upon receipt of cleared funds. This will enable you to register the vehicle.

When can I collect my car?

Please check the shipping details on the individual lot pages for full details regarding collection of purchases.

Generally, vehicles must be collected from the auction location by 1pm the Monday following the sale. Full payment must be received before lots can be collected.

Motor cars not collected by the specified time following the auction will be taken to EM Rogers storage facility in Northampton for a fee of £175 plus VAT. Storage will be charged at £10 plus VAT per day. 

EM Rogers can assist with collection and delivery of cars. Please contact them on 01604 755511 for a quote.

 

When can I collect my automobilia?

Items that have been paid for can be collected from the auction site over the weekend and on the Monday between 9am - 1pm. Alternatively, items can be shipped to you via courier, at your expense, or collected from our office by appointment.

Can a car be shipped abroad?

Our transport partner, EM Rogers, can assist in shipping cars abroad and regularly do so to destinations including Europe, the USA, Australia, New Zealand and Asia. It is your responsibility to check that the destination country has no restrictions regarding import and to settle any duties or taxes that may be applicable on exporting lots from the UK. 

What about a warranty?

The catalogue will describe the lots to the best of our ability on information supplied by the seller. You should, however, satisfy yourself as to the condition, age, and integrity of any lot prior to bidding as no warranties whatsoever are given in relation to any lot.

Once the hammer falls a contract is made and you are obligated to proceed with the purchase. It is therefore vital that you are satisfied to the best of your ability with the condition of the lot you intend to bid upon before doing so. 

Do I need to pre-register to bid?

Please register for your preferred method as soon as possible (online, by phone or via commission), at least 48 hours before the sale, to allow sufficient time for registration to be processed. Alternatively, you can register to bid in person when you arrive.

What are the payment terms?

Payment is required by 5pm on the Monday immediately following the auction. 

What if I can’t collect by the deadline?

Cars will be removed from site by our transport partners, EM Rogers, in specialist covered transporters, for an additional fee. Storage or delivery, including international delivery, can be organised directly with them. Similarly, motorcycles will be removed by our partners Moving Motorcycles.

Automobilia can be collected from our office by prior arrangement, or shipped to you at your expense. 

Do you take a deposit or security payment prior to the auction?

No, you will be invoiced following the auction. All invoices are due for payment by 5pm the next working day following the auction.   

Do you accept foreign currency payments?

All payments need to be made to arrive in GBP.

Do you accept finance?

We have partnered with Oracle Car Finance, the UK's number one funder for prestige, sports and classic cars, who can help you get approved before the auction with an agreement in principle. Please see their website www.oraclefinance.co.uk or call +44 (0) 330 8387491 for a quote. 

What about VAT?

Some lots may be VAT qualifying and subject to VAT on the hammer. Some lots may have been brought into the UK on a temporary admission and therefore import VAT will be due on the hammer and buyer's premium. These lots will be clearly marked in the catalogue.

Any lots that are not VAT qualifying will be sold using the Auctioneers Margin Scheme (VAT Notice 718/2). VAT will not be charged on the hammer price. The VAT on the buyer's premium will not be split out on the invoice and cannot be claimed by UK VAT registered businesses or individuals. There will be no VAT payable on the buyer's premium on purchases under the Auctioneers Margin Scheme if the lot is being exported to the EU within 3 months of the auction date, and proof of export is provided.

Further duties and VAT may be applicable on exporting lots from the UK. It is the responsibility of the buyer to settle these charges.

Is there a guarantee on my purchase?

No, cars are sold on an as seen basis. You are advised to satisfy yourself as to the vehicles condition and suitability before bidding. We offer viewing opportunities, as well as photographic (and video where possible) content for each car offered.

What is a provisional bid?

Occasionally a car may be sold under a ‘provisional bid’ if your final bid does not reach the reserve price. A provisional bid stands until 12pm the day following the auction. During this time we will contact the seller on your behalf to see if they will accept your bid or try to negotiate a purchase on your behalf.

Are the unsold lots on your website still available to buy?

Any lots not sold at an auction will show a 'buy it now price' for two weeks from the date of the sale. You should contact the specialist who consigned the vehicle directly to arrange any post-sale purchase, our sellers may negotiate but are under no obligation to do so, and so bidding at auction is the best route to ownership.

We keep all our auction results/historical data (sold and unsold) on our website. So from time to time you may see an unsold car appear in a generic search result. These cars are no longer available if they do not show 'buy it now' prices. However, please feel free to email the specialist who may have an alternative/similar car in an upcoming sale. 

What is a saleroom notice?

A saleroom notice is issued when a pertinent change in the information provided on an item is made after the catalogue is finalised and published.

If a lot has a saleroom notice, this will be displayed on the individual lot page on the website, it will be displayed in the auction hall and will be read out by the Auctioneer prior to the lot being auctioned.

I previously had an account but it doesn't appear to work now?

If you are registering via our new website for the first time, you will need to create a new account. 

Once you have created your account, please then submit your registration directly against the lot(s) you wish to bid on.

When can I collect my motorcycle?

Please check the shipping details on the individual lot pages for full details regarding collection of purchases.

Generally, vehicles must be collected from the auction location by 1pm the Monday following the sale. Full payment must be received before lots can be collected. Motorcycles not collected by 1pm the Monday following the auction will be taken to our transport partners storage facility for a fee of £110-£125 plus VAT, depending on the location of the sale (including three days storage). Storage will be charged at £10 per day thereafter. 

Our transport partners, Moving Motorcycles, can assist with collection and delivery of Motorcycles. Please contact them on 01933 448555 for a quote.

How does Iconic Auctioneers value classic cars?

All cars are submitted to our internal valuation committee who between them have a wealth of experience in all makes of classic and competition cars. The value is agreed between the specialist and the seller of the vehicle in line with current market conditions and the sellers expectations. 

How much does it cost to sell a car, motorcycle or collectible?

When selling a car we charge a cataloguing fee of £250 plus VAT. The cataloguing fee covers photography, script writing, video and worldwide marketing of your vehicle. Our seller's commission is 7.5% plus VAT (9% including VAT) of the hammer price.  

When selling a motorcycle our standard cataloguing fee is £50 plus VAT. The cataloguing fee covers photography, script writing and worldwide marketing of your motorcycle. Our seller's commission is 7.5% plus VAT (9% including VAT) of the hammer price. We also offer a premium service with a cataloguing fee of £200 plus VAT which includes transport of your motorcycle to the auction.

For automobilia, watches and registration numbers we charge a cataloguing fee of £25 plus VAT. Our seller's commission for automobilia items and watches is 15% plus VAT (18% including VAT) of the hammer price, for number plates is 10% plus VAT (12% including VAT) of the hammer price.

What happens once my car is confirmed for auction?

Once accepted for auction, arrangements will be made for the car to be photographed by our in-house professional photographer. A script will also be written for the car to which you will need to approve.

The vehicle will be included in our worldwide marketing opportunities. Platforms include; digital and printed media, social media including YouTube, press releases and video. All auction entries are featured on our website which receives over one million hits every year. 

On the week of the auction you will need to arrange to have the vehicle or item of automobilia delivered to the event location - specific details will be emailed to you.

What about the documentation/history files for my car?

To assist with the sale, we ask you to supply all of the documentation for your vehicle at auction. Please ensure the documentation is inside your vehicle when it is delivered to the auction. The documents will be stored in a secure location and will be available to view by potential buyers under the supervision of our staff. At the end of the sale they are secured into the vehicle ready for collection. 

What happens when my car is sold?

The buyer becomes responsible for the vehicle on fall of the hammer; however, title will not pass until cleared funds are received by us. The V5c will be processed to the new keeper once full payment has been received. DVLA will refund any outstanding road tax on the vehicle direct to the registered keeper on the V5c. 

What about my vehicle insurance?

Responsibility for the vehicle passes to the successful bidder on the fall of the hammer, however we would recommend keeping the vehicle insured until you have received payment. Cars are insured whilst they are in our care. 

When will I receive payment?

You will receive a statement via email from the accounts team within five working days of the auction, detailing the proceeds of the sale. Funds will be paid to your bank account via bank transfer within 14 working days from the date of the auction (subject to cleared funds being received) but we aim to pay out within ten working days. During this time funds are kept in a dedicated customer account. 

What if I want to withdraw my car from an auction?

Withdrawal of a car once entered attracts a fee of 15% plus VAT of the mid estimate of the lot, this is payable within 7 days of the withdrawal. 

If you have any questions you can contact us by phone +44 (0) 1926 691 141 or email enquiries@iconicauctioneers.com or visit our Contact Page.

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