Buying at Dreweatts

Buying at Dreweatts

Buying at Dreweatts

At Dreweatts we want you to have an enjoyable experience and to make buying at auction as smooth as possible.

There are a variety of ways that you can participate in our auctions. Simply register for the auction you are interested in online or in person and then choose your preferred bidding method.

REGISTRATION 

All first time bidders will need to register with us. Once registration is complete you will be able to bid with us in all future auctions. 

To register, you will need to provide us with two forms of identification: 

  • a passport or photographic driving licence 
  • a utility bill or document showing proof of name and address 

Please note that payments for lots purchased by first time buyers must be made by bank transfer, in cash up to £8,000 (subject to relevant money laundering regulations), or by debit or credit card with the cardholder present.  

BIDDING METHODS

Live online bidding

With a live video feed from the auction room, Dreweatts’ own bidding platform allows you to watch, listen and bid from anywhere in the world with no additional online bidding fees.

Our auctions are also listed on 3rd party online platforms. Please note there may be a surcharge for bidding via these platforms and we advise you to check with the platform before bidding.

Bid online at Dreweatts Live

Bid at the auction

Bidding in person is the best way to experience the thrill of the sale. Once you have registered with our reception, you will be given your bidding paddle. You can then take your seat and start bidding on the lots which interest you. If you are a successful buyer, the auctioneer will ask you to state your paddle number and shortly after this you will be able to pay and collect your item.

If you are unable to attend the auction in person or bid online whilst the auction is taking place, you may wish to leave a commission (or absentee) bid. Simply complete a commission bid form and state your maximum hammer price for each lot. Dreweatts will bid on your behalf taking into account any other bids and the reserve price. Please note if two or more people submit commission bids at the same figure the first bid received will be executed in the auction. Commission bids may also be left via our online bidding platform.

Bid by telephone

Dreweatts offers the facility to bid by telephone. You will need to book a telephone line in advance of the auction. Dreweatts will then call you when your lot(s) are about to come up for sale enabling you to bid live on the telephone in real time.

Please note there is a limit to the number of telephone bids that we can execute for any particular lot, therefore telephone bids have to be accepted on a first come first served basis. Requests for telephone bids should be made by 4pm on the day before the auction takes place.

WHAT WILL I BE CHARGED?

The buyer pays the hammer price, buyer’s premium (+ VAT) and any other applicable fees for every lot won in the auction.  

Breakdown of buyer’s premium:

For all auctions (except Wine auctions) the buyer’s premium is charged on every lot at the rate of 25% of the hammer price (30% inc. VAT) up to and including a hammer price of £500,000, 20% of the hammer price (24% inc. VAT) from £500,001 up to and including £1,000,000 and 12% of the hammer price (14.4% inc. VAT) in excess of £1,000,000. 

For Wine auctions, the buyer’s premium is charged on every lot at the rate of 15% of the hammer price (18% inc. VAT) up to and including a hammer price of £150,000 and 12% of the hammer price (14.4% inc. VAT) of the hammer price in excess of £150,000.

For example:

Hammer price: £100

Premium at 25% of £100 = £25

VAT at 20% of £25 = £5

Total price: £130

Please note that other fees may apply and where these are applicable lots will be marked with the following symbols:

Artist's re-sale royalty λ  The lot may be subject to droite de suite royalty charges; information on these charges are available in our Terms and Conditions 
CITES Y The lot may be subject to CITES regulations when exported; information on CITES regulations are available in our Terms and Conditions 
Vatable lots VAT is payable by the purchaser at the standard rate of 20% on the hammer price, in addition to the standard VAT charge added to the buyer's premium
VAT zero rated item Ɵ The lot is subject to buyer's premium of 25% inclusive of VAT (0% VAT)
Import VAT at 5% The lot is being sold whilst subject to temporary importation, VAT is due at the reduced rate of 5% on the hammer price 
Import VAT at 20% The lot has been imported from outside the EU and is liable to the standard rate of import VAT, currently 20% of the hammer price 
Wine in Bond Β This lot is currently held in Bond and will be subject to Duty upon release to the buyer

 

3rd party bidding platforms

Lots bought via a 3rd party bidding platform may be subject to an additional online commission fee which is charged by the 3rd party platform.

HOW TO MAKE A PAYMENT

Payment will be accepted by:

  • Debit card issued by a UK bank and registered to a UK billing address
  • By all major UK issued credit cards registered to a UK billing address with the exception of American Express and Diners Club
  • By bank transfer direct into our bank account
  • In cash up to £8,000 (subject to relevant money laundering regulations)
  • By sterling personal cheques drawn on a UK bank account. Dreweatts regrets that purchases paid for by this method cannot be collected until your cheque has cleared; please allow six working days

COLLECTION AND DELIVERY

We are unable to store sold lots at Donnington Priory, therefore it is your responsibility to make payment and arrange collection within four working days of the sale taking place.

All items not collected within four working days of the sale (by 4pm) will automatically be sent to commercial storage and will subject to a storage charge. Collections can be made from Monday – Friday, 9am – 5pm. We regret that collections are not possible at the weekend.

If you are unable to collect yourself, we can supply a list of UK and international shipping companies who will be able to provide you with a shipping quote.

For further enquiries please do not hesitate to contact us: +44 (0)1635 553 553 | info@dreweatts.com

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