You are bidding on the basis that you have made all necessary enquiries, particularly in respect of lots the auctioneer has not Buyer's FeeĪ successful purchaser will also be required to pay a Buyer’s Administration Charge of 1.2% of the purchase price subject to a minimum fee of £1,800 including VAT (unless stated otherwise within the property description in the catalogue) by debit card or bank transfer. The reserve price is not disclosed and remains confidential between the seller and the auctioneer.īoth the guide price and the reserve price can be subject to change up to and including the day of the auction. The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. Both the guide price and the reserve price can be subject to change up to and including the day of the auction. A guide price is different to a reserve price (see separate definition). This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. An indication of the seller’s current minimum acceptable price at auction.
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