Buying At auction
Spink auctions are an
exciting way to purchase stamps, coins, banknotes, medals, bonds
and shares, autographs, books and wine from around the world. There
are different ways to participate in Spink auctions. Here are some
basic tips to help you.
For bidding enquiries and sale
results depending on the location of the sale please contact:
Catalogues
Our illustrated catalogues are
invaluable for clients wishing to buy at Spink. Available usually
four weeks before the sale, they contain descriptions of the items
that are being sold, along with estimates, with most items being
photographed. Our catalogues can also tell you if an item has
previously been exhibited or appeared in a publication, or
collection - known as 'provenance'. Spink catalogues are
meticulously researched and are a permanent reference source for
collectors. For prices and subscription queries please email
catalogues@spink.com or
directly phone the relevant office.
You can download all Spink
catalogues to your iPhone, or iPad, free of charge from the iTunes
store and view them no matter where you are in the globe!
Viewing
Every item coming up for auction
goes on display for several days before a sale. Viewing times for
each sale can be found in the front of the relevant catalogue. We
invite you to come in, browse the lots and meet Spink's
specialists, who will be happy to discuss the quality, background
and condition of any item. These pre-sale viewings are free and
open to the public, as are all of Spink's auctions.
If you cannot examine lots
personally, we can provide a condition report in writing or over
the telephone. Alternatively you can engage a third party/agent to
do so on your behalf.
Bidding
Before you bid, please read the
Terms and Conditions for Buyers that are also published at the back
of each printed catalogue.
If you are a new client to us, in
order to open an account for you, we would ask you to provide bank
and trade references in advance.
Please note that some lots may be
designated prior to the sale as "Premium Lots" which means a
deposit may be required before placing a bid.
Should you wish to obtain an expert
opinion or Certificate of Authenticity on any philatelic lot (other
than a mixed lot or a lot containing undescribed stamps), we
require notification forty-eight hours before commencement of
the sale.
You can bid via the following
methods:
1) Bidding in person
On the day of the sale, follow the signs for 'registration'. To
register to bid, you will be asked to complete a registration form
with your name and address, and we will then give you a paddle with
your bidder number.
To avoid delays, you can also
register before the sale, contacting us on the telephone numbers
and emails addresses listed above.
The auctioneer will start the sale,
offering the lots in the order in which they appear in the
catalogue. The opening bid for any lot is usually below the low
estimate. If there are two or more commission, or postal bids on
the auctioneer's book, the bidding may open higher than the
estimates in order to eliminate the 'under bidder'. The auctioneer
calls out the bids as he accepts them.
When you wish to bid, you should
raise your paddle and wait for the auctioneer to acknowledge you.
If anyone else wishes to acquire the lot, they will bid against you
by the same means. The auctioneer will continue taking bids of increasing amounts from each
interested party until all but one person drops out. This final
bidder is the successful buyer and the auctioneer indicates that
the lot is sold by hitting his gavel (hammer) on the rostrum and
declaring the final hammer price. If bidding fails to reach the
reserve price (the minimum price the seller is prepared to accept),
the item is unsold and the auctioneer will move on to the next
lot.
2) Bidding via an agent
Should you not be able to attend the sale in person you can engage
an agent or the third party to do so on your behalf. The third
party should be able to present us with authorisation that they can
bid on your behalf.
3) Online bids
We also accept bids submitted through the Spink website. Once you
have registered and
have received your client number, you can use this number together
with your password to log in to the site. Then, simply browse the
relevant online current auction catalogue and place your bids by
clicking on the BID button next to each auction lot. The bid form
page will then open, where you can enter your bid - in
multiples of 10 only. Adding more bids, changing already submitted
bids, or cancelling bids can be done on our website up to 3 hours
before the commencement of the sale. To increase or decrease a bid
please submit a new bid on the same lot. To cancel a bid, please go
to the lot and click on the UNBID button.
If it is less than 3 hours until
the commencement of the sale, for any changes to your bids, please
contact the relevant office where the sale is taking place.
Once we have accepted your bids we
will send you a confirmation by email. Please note that we can only
send confirmations during our normal office hours, Monday to
Friday, so there may be a slight delay.
4) Spink Live
You can participate at our auctions live via our Spink Live
bidding facility. You will need to download the Spink Live software
depending on the location of the sale. During auctions you can
either access the active part, where you can bid, or just click on
"view only" to follow it without bidding on any lots.
You can also place a proxy bid via Spink Live, this bid will be
operated by Spink live automatically on your behalf as if you were
sitting at a computer and bidding.
5) Written bids
For sending bids to us by post, fax
or email, please use the bid form that is published in each printed
catalogue and also at the back of each e-catalogue. All you have to
do is decide on your maximum bid for a particular lot and then send
it to us, so we receive it at least 24 hours before the auction. We
will then try to obtain the item for you at the lowest possible
price.
6) Bidding by telephone
If you prefer to experience bidding as if you are in the room,
even if you are miles away, you can bid by telephone. To arrange
telephone bidding, simply contact us at least one day before the
auction. One of our members of staff will call you during the sale
and will relay your bids to the auctioneer. This service is
provided at Spink's discretion, normally free of charge, but is
usually only available for lots with a minimum low estimate of
£1,000 or equivalent in other currencies.
Sale Results
You can obtain sale results on our web site, usually shortly
after the conclusion of the sale.
Sold
In addition to the Hammer Price,
you must pay us the Buyer's premium and also VAT and Import Tax,
where applicable. In addition a shipping charge will be added to
your invoice if lots are to be sent to you. Full details of charges
can be found in the Terms and Conditions for Buyers that are also
printed in each catalogue.
Payment
Payment can be made by following methods:
Direct bank transfer to our account
details that are shown on the invoice. The bank charges shall be
met by you. Please ensure that your client number is noted on the
transfer.
By cheque or bank draft made
payable to Spink and sent to the relevant sale location. Please
ensure that the remittance slip printed at the bottom of the
invoice is enclosed with your payment.
By Visa or Mastercard a charge of 2% and by American express a
charge of 4% will be applied if paying online.
If paying via the office where sale
took place charges might differ. Payments exceeding £5,000 or
equivalent in other currency are normally not processed over the
phone and can only be made by the card holder in person whilst on
our premises. We must receive your payment within seven days of the
sale.
For payments in currencies other
than the currency of the sale please contact the relevant office
for an exchange rate.
Collection of lots
If you attend the sale in person
you can collect your lots on the auction day providing the payment
terms have been met. If you are intending to collect your item,
please do advise. Should the collected lots be hand-carried between
the European Union to a destination outside of the European Union,
appropriate customs form will be prepared for you, if
needed.
Shipping
The standard shipping rates for
lots are stated in the Terms and Conditions for Buyers. If the
weight or volumetric weight exceeds the standard rate charges, you
may incur an extra fee.
Please note it is the
responsibility of the buyer to be aware of any import duties that
may be incurred, upon importation to the item's final destination
and of any restrictions that prohibit the importation of certain
collectibles.
Storage
Spink is able to arrange long-term
storage at competitive prices, should you require it.
Watch an Auction
Feel free to come in and watch a
sale! Our auctions are free and open to the public and you will
see, first-hand, that the process of buying at auction is very
simple. Alternatively you can follow our auctions on Spink Live
without having to register.
