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Selling with BPI Auctions 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 you in detail through the best route to market. Alternatively, you can also easily and quickly add your items to the BPI Upload Portal by clicking here “Upload Your Assets“. You can also contact any of the team to discuss your requirements where we will advise the best route to market

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 lotting 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?

On a regular basis, we run auctions which are a combination of several vendors’ items grouped together in relevant industry sectors, the combining helps both marketing and audience subscription.

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 asset in question. You can also click on the Sell tab which will clearly show the steps involved from the starting point to payment of the invoice.

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?

Payments are reconciled daily and vendors are paid within a few working days of the final reconciliation. The payment can be made via bank transfer or cheque, but we normal bank transfer the funds.

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. Additionally All unsold lots at vendors request will also be automatically be added to the BPI Marketplace, which will give great visibility to all unsold assets which will be added as buy now price.

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

We have the ability to elect 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.