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FAQs

I'm interested in running an auction what do I do next?

Contact our office and one of our expert valuation team will make an appointment to come and view your assets or conduct a desktop appraisal and talk to you through the best route to market. Alternatively, you can easily and quickly add your items to the BPI Upload Portal by clicking here “Upload Your Assets“. You can also contact the team for further information.

What are my assets worth?

Once a thorough appraisal has been conducted we will be able to provide you with an accurate worst-case and best-case valuation, depending on the condition, circumstances and timescales.

How will my auction get listed?

Depending on the nature of the assets we can do one of three things, our experienced cataloguing agents can come to the site and prepare the entire sale from start to finish, an agent can come to the site and work in conjunction with you to put the sale together or relevant templates can be supplied for you to lot your own sale.

If I only have a few items to sell can you help?

Yes, we run monthly collective auctions which are a combination of several vendors’ items grouped together in relevant industry sectors. Depending on the value and quantity, we can allocate a few items to their own sale.

What will I be charged for selling my assets?

A consignment fee ranging from 0% to 30% will be deducted from the final hammer price depending on the value of the sale.

How do I know the buyer has paid for my assets?

Buyers must pay by electronic transfer or online secure payment. Payments received are reconciled hourly, once received electronic confirmation is sent to the buyer, vendor and any other party to the transaction.

How do I get paid for my goods?

The sale will be invoiced as soon as it finishes and buyer’s will be expected to pay within 48 hours. Settlements will be arranged and will be paid via bank transfer to the vendor 14 days after the sale end.

What happens if some of my assets don’t meet the reserve price?

Often many lots will achieve far more than the reserve set so vendors decide to subsidise the poorer-performing lots. Alternatively, sometimes lots are re listed in another sale in the hope next time the audience is different and a sale is completed.

I’m not VAT registered will you have to charge VAT on my lots?

We have the ability to select NOT to charge VAT if a vendor is not VAT registered.

Do I need to pay VAT on goods that leave the country?

If you are exporting we will require the following: 1) Proof of payment from overseas; 2) Proof of Export; 3) An Overseas Address. When we have received this we will re-fund the VAT back to you bank account.

I need to sell my assets quickly

A BPI Representative can be on site within 24 hours to agree a purchase price of goods and payment will be made the same day by bank transfer.

Can I ask something else?

Please feel free, the entire team is on hand to help at all times. Simply contact our team.

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