Buying at a Holt's Auction
To Buy
Buying from auction is a simple and straightforward operation and presents the opportunity to buy items that would be hard to find anywhere else.
Before bidding in any of Holt's Sales please first download and read our terms and conditions:
Terms & Conditions
The Catalogue
For each auction, an illustrated catalogue is produced which gives detailed descriptions of all Lots being offered for sale. An estimated price is listed with each description (and as a general rule, one should expect to have to pay mid to high estimate to secure the item). The catalogues are available to buy either by yearly subscription or on an individual sale basis by contacting the main office. The catalogue is also posted in full on the website.
The Viewing
Prior to the sale, all Lots listed in the catalogue are displayed for viewing at the auction room at the Princess Louise House, 190 Hammersmith Road, London W6 7DJ.
To attend the viewing and the sale, you need to contact the main office to obtain a pass for entry.
The viewing runs for three days (including the sale day) and gives you the chance to examine prospective purchases first hand. You can also chat with the specialists who are on hand to help out with advice on all aspects of the sale and can provide you with more in depth information on the individual Lots.
Condition reports on items can be requested if you cannot attend the viewing personally.
The Auction
There are four main ways to participate in the auction:
Online Catalogue
Holt's maintain an online catalogue for each sale. This becomes available some weeks before the printed catalogue and is regularly updated as lots are added to the sale. A simple registration procedure enables you to log on and leave a bid on any item you wish up to 24 hours before the start of the sale. The online catalogue 'closes' 24 hours before the start time of a sale. Any bids placed on the online catalogue are added to the sale book.
Live Online Bidding
Holt's Auctioneers have developed their new live online bidding system.
This will enable customers to bid online during the live sale from their own computer via an on screen bidding window, this will incorporate audio as well as visual to enable you to monitor the sale from any location and a button that will enable you to interact and bid live. By registering you will be provided with a link to download the software, a password and a simple step by step guide.
Special pre-sale registration will be required. This has to be completed 24 hours before the start of the auction, applications to bid online after this deadline will be held over until the next auction.
If you wish to experience live online bidding please contact Holt's Media Manager:
andrew@holtsauctioneers.com
Note: Live online bidding will be accessed by a dedicated 'fast track' SDSL broadband connection that will enable the registered user to view and bid in 'real time'. There is no extra charge for bidding online and no additional charges are incurred, other than the normal buyer’s premium and VAT, should your online bid be successful.
Bidding in Person
For most people, buying at auction in person is generally the preferred method. It ensures that you have had the opportunity to view the prospective purchase in the viewing and allows the adaptability to react to what happens in the saleroom.
Obviously it is important to set yourself a limit on each item you are interested in, but by being present it means you can be flexible and adjust your bidding according to your needs. This is especially true if you have more than one item you are interested in, or perhaps you only want one item but have a selection of several to choose from.
Initially you need to register for a bidding number. This is a number that will be used to identify you as a bidder in the auction and is printed on a 'paddle' which you are given (and without one you cannot bid - so you needn't worry that an inadvertent scratch of the nose will end up costing you thousands!). It is advisable to register as early as possible (you can do this throughout the viewing days) as there is always a rush to do so as the auction begins (and you might miss out).
The next stage is to be seated in the saleroom in good time for when the Lot(s) you are interested are due to feature.
The auctioneer will read out the lot number and the initial line of the description of the item and will 'open' the bidding at a level near the low estimate. To indicate you would be interested in bidding you raise your paddle and the auctioneer will accept your bid at that figure. He will continue to accept bids, each raised incrementally until no more bids are offered. The 'hammer' - a small gavel held by the auctioneer and knocked down on his podium to indicate end of bidding, falls at the final bid and the Lot has then been deemed sold to the last (highest) bidder.
It is advisable to listen to how the auctioneer is taking bids – on lower value Lots the bids may be increasing by just a few pounds a time – whereas on high value Lots the bids can be raised in hundreds or even thousands a time. You need to have your wits about you, have an idea in mind how high you are prepared to go and get involved early as the auctioneer won't have time to wait for you to ponder. With over eight hundred Lots to get through in a day he'll be going at a fair rate! When the hammer is knocked down this is a legally binding contract between the bidder and the auctioneer (so make sure you bid on the correct Lot!).
Commission Bidding
If it is not practical for you to make the auction in person (or if you don't trust your own resolve to be strict with your limits!) then you can instruct the auctioneers to bid on your behalf via a commission bid form. This involves filling out a commission bid form indicating the Lot(s) you wish to bid on and a maximum amount you wish to bid up to (not including commission). Your maximum figure is not automatically taken as your bid. Bidding will take place on your behalf as though you were in the room, so your commission bid will be executed incrementally and if the bidding stops short of your maximum, you will be successful at that level. If the bidding exceeds your maximum, then obviously you will not be successful. You can download a commission bid form HERE.
Commission bids are taken on a first come, first serve basis, so if two identical bids are tendered, whichever was received first will count as the winning bid.
With regard to the sealed bid sales, please note that the commission bids are NOT incremental; the highest bid on items will be accepted at their full written value.
Telephone Bidding
The final option is to organize a telephone bid, which involves a member of Holt's calling you and acting on your behalf in the saleroom. There is a limited number of lines. Telephone bids must be arranged with the administration office prior to the day of the sale and will also be taken on a first come, first served basis.
What Will It Cost Me To Buy From Auction?
Holt's charge a buyer's premium of 22.5% (+VAT) on the hammer price.
All lots are subject to a Buyer’s Premium of 22.5% (+VAT) on the hammer price of all lots. Please note that the VAT is applicable only to the premium, not the hammer price unless otherwise stated at the foot of the lot description as follows:
Items marked * are subject to 5% VAT on the hammer price as an import.
Items marked ** are subject to 20% VAT on the hammer price as an import..
Items marked † are subject to 20% VAT on the hammer price under the prevailing UK VAT rule on the hammer price and buyers premium.
VAT may be cancelled or refunded on export if strict conditions are met.
How do I get My Purchased Items?
Lots can be paid for and collected on the day of the auction, or by pre-arrangement, can be collected the following morning from Princess Louise House. Remaining Lots will be taken to the gunroom in Norfolk. They can be collected from there or alternative arrangements can be made by liaising with the main office.
We can recommend a selection of suitable shipping agents for overseas buyers. For Lots to be released, payment must be made and (if applicable) correct license documentation must be produced.
