Buying at an auction is an exciting experience, but it’s important that you understand the bidding process, and the steps that you need to take before you make a purchase. At Capes Dunn in The North West, we’ve been operating in the fine art auctioneer industry for more than 190 years, so we understand every aspect of the service. If you need help with the bidding process, or if you’re curious about our online bidding and viewing options, please give us a call.
Our fortnightly Interiors, Vintage & Modern Effects Auctions (commencing on Mondays at 11am) can be viewed:
Specialist Auctions (commencing on Tuesdays at 11am) can be viewed:
Northern Art Auctions (commencing on Tuesdays at 6.30pm) can be viewed:
It is important that clients have satisfied themselves as to the condition, suitability for purpose, and authenticity of any lots they are interested in prior to sale.
Once the hammer has fallen, the successful bidder has entered into a legally binding contract to purchase the goods at the given price, and that any lots purchased are also subject to an additional charge called a buyer's premium. This is currently 18% on the hammer price + VAT on the premium.
Any lots which are entered by clients who are VAT registered will also be subject to VAT being charged on the hammer price, as well as the buyer's premium. Any lots subject to this additional charge will be announced by the auctioneer and will be clearly marked in the catalogue with an asterisk symbol next to the lot number.
Following the introduction of the Artist's Resale Right Regulations on the 14th February 2006, a levy is payable only on works sold in the secondary market (including through auction) for 1,000 Euros or more. The Royalty rates payable to the artists are calculated as a percentage of the sale price on a sliding scale, 4% is payable on works between the value of 1,000 Euros to 50,000 Euros, down to 0.25% payable on works valued at over 500,000 Euros. Resale royalties are not subject to VAT.
Capes Dunn will collect the required amount due from the buyer of any work, which is covered by the regulations.
YOUR ATTENTION IS PARTICULARLY DRAWN TO THE FOLLOWING
Whilst Capes Dunn & Co make every effort to ensure the accuracy of their catalogue and the description of any lot:
(a) Each lot as set out in the catalogue or as divided or combined with any other lot or lots is sold by the vendor with all faults, imperfections, and errors of descriptions.
(b) Capes Dunn & Co do not accept responsibility for the authenticity, genuineness, origin, authorship, date, age, period, condition, or quality of any lot, unless they have been instructed in writing by the vendor so to verify, and in such case the Auctioneers do so as agents of the vendor and are not themselves responsible for such claims.
(c) All statements, whether printed in the catalogue or made orally as to any of the matters set out in (b) above are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by Capes Dunn & Co. unless they have been instructed in writing by the vendor so to verify, and in such case the Auctioneers do so as agents of the vendor an are not themselves responsible for such claims.
(d) Droit de Suite The Artist's Resale Rights Regulations
Following the introduction of the Artist's Resale Right Regulations on 14th February 2006, Capes Dunn will implement the levy as follows:
Capes Dunn will collect the same amount as the resale royalty from the buyer for any work of art covered by the regulations.
Royalty rates will only apply to works sold in the secondary market and not for those sold for the first time, and for works which are sold for €1,000 or more. Royalty rates are calculated as a percentage of the sale price on a sliding scale from 4% (from €1,000 to €50,000) down to 0.25% (over €500,000). Resale royalties ARE NOT subject to VAT.
JEWELLERY AND SILVER TERMS & CONDITIONS
All lots purchased at auction are obtained through bidding. Clients will need to obtain a bidding number before they are able to bid during the sale. To obtain a number, clients are required to register their details with the office prior to the sale, either during the viewing, when they can register in person, or via email or telephone. Capes Dunn offers clients the following options for bidding:
In the Room - The client will attend the sale and bid for lots, using their allocated biding number. This must be shown to the auctioneer if the client is successful.
Commission Bidding - This is where the client is unable to attend the sale themselves, but has inspected the goods and would like to bid on the lot(s). In these cases, the client will be required to fill out a 'Commission Bidding' form at the office. The client will need to fill in their details and write down the amount that they would like to bid on the lot(s). The saleroom will then bid on their behalf during the sale, up to the amount that the client has agreed that they are prepared to pay.
Telephone Bidding - The client is unable to attend the sale, but can be contacted on the telephone during the sale. In these instances, a member of staff will contact the client and bid on their behalf, in the room, during the sale. No additional charge is made for this service, although telephone lines are limited and will be accepted on the basis that the client has a serious interest in the lot and is prepared to pay the upper estimate or above, if required, for the lot(s) that they have booked the telephone bid(s) for.
Please Note: All commission and telephone bids must be registered with the saleroom by 11am on the day of the sale.
Live Online Bidding - Clients are now able to listen to the auction, and bid 'live', in real-time, through the sale using The Saleroom. Please log on to the site prior to the sale to familiarise yourself with their terms of business and the additional costs incurred in using this option.
All goods must be paid for within 48-hours of the date of the sale, any extension of this must be agreed with the saleroom prior to the date of sale. Following the sale, payment for the goods can be made either by:
Cash - Due to money laundering regulations, we are unable to accept payment of more than £5,000 in cash for an individual lot.
Cheque - Made payable to Capes Dunn & Co.
Please Note: Cheques need to clear before goods can be collected
Debit Card - From a UK account. Payment is accepted in-person by card holder, or maximum of £500 if payment made over the telephone. Only one telephone payment is accepted per invoice.
Please Note: All payments by credit card need to be made 'in person'. We DO NOT accept payments over the telephone
We DO NOT accept American Express
Direct Bank Transfer - Please email for details.
Bankers Draft – Please email for details.
All goods must be collected within 48 hours of the date of sale. Any extension of this must be agreed with the saleroom prior to the date of sale.
Please note: We do not pack or ship items ourselves. For smaller items, we recommend the following:
For larger items, with local delivery, we may be able to provide our company van. This is fully insured and charged at £40+VAT per hour, based on 2 men and a van. Piano removal is available from £75+ VAT. Alternatively we can put you in touch with local carriers.