Auction Buyer's Guide

Everything you need to know about buying with Iconic Auctioneers

Buyer's Guide

There’s nothing like the buzz and excitement of an Iconic Auctioneers live auction and we are proud to hold motor car, motorcycle and collectible auctions at a number of Europe’s biggest motorsport and classic motoring events.

From registration to delivery, we aim to make the process of buying as easy and transparent as possible. The 'Buying with Iconic Auctioneers' video details the process step by step, as does the information on the webpage below, this has been split into before, during and after the auction, to make it as clear as possible. Be sure to also take a look at our top tips for buying at an auction - just click the button below!

Before the auction

Initial enquiries:

Our website will showcase all of the lots available prior to the auction day. For each lot we provide a detailed description, professional photographs, and video content where possible, in order for interested bidders to obtain as much information as possible. You can make an initial enquiry about any lot(s) of interest, directly with the member of staff listed on the lot page.

Viewing days:

We offer viewing days prior to each auction, and these are a great opportunity to inspect the vehicle and any associated history files prior to bidding. Our team of experts are also on hand to assist you and to answer any questions you may have.

The history files, which are supplied by the seller, are available to inspect in person on the viewing days at the dedicated documents desk.

We offer four ways to bid in our live auctions:

Bidding in the room

Here you can enjoy the excitement of bidding in person at a live auction.

Telephone bidding

Bidding over the phone allows you to bid live, from anywhere in the world. On the auction day we will contact you prior to the lot(s) going through and guide you through the process.

Commission bidding

If you are unavailable on the auction day, commission bidding is for you. It is the maximum amount you are willing to bid up to and we will execute the bid as low as possible on your behalf.

Online bidding

You can bid live on our website for free. You can also bid online with our partner, The Saleroom. Please note, bidding online with our partner incurs an additional fee of 1% plus VAT.

Registering to bid:

To register for telephone, commission or online bidding, please log in or create an account using the Register here button below.  To bid in the room, you can register on the viewing or auction day by visiting the registration desk.

You will need to upload one form of identification (passport or driving licence) to complete your registration. Once you are logged into your account, you will then need to register to bid against the specific lot(s) of interest. To ensure your bid is processed, please submit this no later than two hours prior to the auction.

Alternatively, you can register to bid by contacting us directly: email bid@iconicauctioneers.com or call +44 (0) 1926 691 141.

Interested bidders should register to bid at each individual auction and will be required to provide one form of photo identification every 12 months to comply with money laundering regulations (passport or driving licence). This can be uploaded to our Secure Portal. When you complete the registration process you are agreeing to our Terms and Conditions.

Buyer’s premium:

Like the majority of auction houses, Iconic Auctioneers charge what is known as a buyer's premium on the hammer price. Our buyer's premium charge for motor cars is 12.5% plus VAT (15% including VAT) on the first £300,000 of the hammer price and 10% plus VAT (12% including VAT) on the balance thereafter,  15% plus VAT (18% including VAT) for motorcycles, 10% plus VAT (12% including VAT) for registration numbers and 20% plus VAT (24% including VAT) for automobilia and watches. Buyer's premium is subject to VAT at the prevailing rate on the day of the auction.

Some lots may also be subject to VAT on the hammer price or import VAT on the hammer price and buyer’s premium. These items will be clearly marked.

Finance:

Did you know that you may be able to finance your upcoming auction purchase? Our official finance partner, Oracle Car Finance, can use their expertise and panel of specialist lenders to look to get you pre-approved before you start the excitement of bidding at auction. An agreement in principle could see you arrange a finance package at the top end of your budget, between 30-90 days before the auction, with the funds ready to instantly be paid out when the hammer drops and you’ve bought your dream auction purchase.
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During the auction

It's time to bid!

If you have registered to bid in the room, take a seat and enjoy the buzz that comes from being in the auction hall. For telephone bidding, hang tight until we phone you one or two lots prior to the one(s) you have registered for, and for online bidding you can watch the live stream through your online account, and you just need to follow the bidding prompts. If you have registered for a commission bid, you will receive an email after the auction with your invoice if you have been successful. 

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After the auction

Payment: 

If you are the successful bidder, you will receive your invoice via email following the auction. You do not need to pay a deposit; all payments are due in full by 5pm the next working day following the auction and must be made in GBP. We accept payments via bank transfer or alternatively in person with a debit card (up to £20,000) or a credit card (up to £5,000). We cannot accept cash payments or AMEX.  

Lots purchased can only be released upon receipt of cleared funds. 

You should ensure that you have the necessary monies available and are able to pay before you bid. 

Collection: 

Motor vehicles must be collected in accordance with the shipping details noted on the lot pages. Collection times differ according to the auction venue. Lots not collected by the set deadline will be taken to our transport partners storage facility in Northampton for an uplift fee plus a daily storage charge.  

Buyers should satisfy themselves that they have all relevant spares, documents and keys relating to their lot(s) at time of collection. Written instruction from buyers must be provided if they wish their lot(s) to be collected by an agent. 
 
Our dedicated transport partners can assist with collection and delivery. Please contact them directly for a quote.
For motor cars contact EM Rogers on  
+44 (0) 1604 755511
For motorcycles contact Moving Motorcycles on  +44 (0) 1933 448555

Insurance: 

Whether you're a motor trader or an independent purchaser, once the hammer falls, the risk of the lot passes to you. Our insurance partner Howden, are ready to help you and can provide you with a quote. They do insurance differently. They are not a one-size-fits-all insurance company look to understand the specifics of your insurance needs before giving you a quote. They have a team dedicated to classic cars and motorcycles and cover a vast array of classic and vintage models. 

Visit their website for more information and a quote 
www.howdeninsurance.co.uk/iconic-auctioneers or give them a call on +44 (0) 1905 930748

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If you have any questions you can contact us by phone +44 (0) 1926 691 141 or email enquiries@iconicauctioneers.com or visit our Contact Page.

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