Auction of quality HIFI on the 12th

[Mikeandvan]

Thought 42% was a tad high! Still, the internet has killed local auctions with specialist lots like this, no bargains to be had anymore, not worth the hassle.

[gwernaffield]

well it is easy to say it is 42% and then no one will bid,

[Yomanze]

Best that SP10 goes for a few hundred though.


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[cooky]

i think you will find the vat is in the fee , it normaly works out about 20% , all in , but as i said at the begining this is not a ebay auction if you can buy a sme 4 arms for the price of one and pay the 20% is that a good deal , ? or is it just the dealers that dont complane and then add afurther 50% on top of what thye have paid,The buyer's premium is 22% (26.4% including VAT) if the item has a (*) there is vat added , so you have to watch out for the star on the lot you are bidding on ,

5. VAT. (*) indicates that VAT is payable by the purchaser at the standard rate (presently 20%) on the hammer price as well as being an element in the buyer’s premium. This imposition of VAT is likely to be because the seller is registered for VAT within the European Union and is not operating the Dealers Margin Scheme or because VAT is due at 20% on importation into the UK. The double symbol (**) indicates that the lot has been imported from outside the European Union and the present position is that these lots are liable to a reduced rate of VAT (5%) on the gross lot price (i.e. both the hammer price and the buyer’s premium).Lots which appear without either of the above symbols indicate that no VAT is payable on the hammer price. This is because such lots are sold using the Auctioneers’ Margin Scheme and it should be noted that the VAT included within the Premium is not recoverable as input tax.

So on a £100 hammer* price you pay £26.40 premium (inc vat) plus £20 VAT on hammer price =£146.40p ouch!

[gwernaffield]

you have read that wrong , the hammer price is 100 than add the 26% i.e £126 , vat is only added if the rule 5 applies, (*)

[farflungstar]

What I don't like is that none have been tested and are sold as seen. If I was in the area and not in Spain I might have a look in and maybe try my luck.

[gwernaffield]

well i am 250miles away , and will be biding , you have to set what you are willing to pay including the buyers fee which includes the vat , vat is only added if the sale is something to do with a dealer hence rule 5,
it is a proper auction sold as seen and not a ebay one ,but i can guess most of it will end up on ebay ,via dealer ,

[karma67]

this is nothing new,this is how auctions have been working for hundreds of years.

[walpurgis]

They have one item I'd be interested in. And it's not Hi-Fi!

[Edward]

Some yummy stuff there ...

Looking forward to driving to pick up my loot - if I win any.