How to buy at Spink Auctions

Spink auctions are an exciting way to buy coins, banknotes, medals and stamps from around the world. Sales are made under our terms and conditions but it is very easy to buy from Spink. Here are some basic tips to help you:"

Catalogues

The best way to ensure that you do not miss any of our auctions is by subscribing to our catalogues. A price guide is available here. If you have any subscription queries you can contact us by telephone on +44 (0)20 7563 4000, or email catalogues@spink.com.

Viewing

Bidding

1) Bidding in person
If you are a new client, we request that you supply us with a bank reference in advance of the day of sale. On the day of the sale, follow the signs for the registration. To register to bid, you should complete a 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 by calling +44 (0)20 7563 4000.

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*, and the auctioneer will call out the bids as he accepts them. Bidding increments are as follows:

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 'knocking down' his gavel 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.

*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'

2) Online bids
We also accept bids submitted through this website. Once you have registered and have received your client number and PIN, you can use these details to login to the site. Then, simply browse the relevant online current auction catalogue and place your bids by clicking on the gavel icon

next to each auction lot. The bid form page will then open where you can enter your bid (in multiples of 10 only), and leave a telephone number in case we need to contact you. There is also an option at the top of this page where you can submit multiple bids.

Once we receive your bids we will send you confirmation by email. However, clients are advised that as a general rule, bids less than 65% of the low estimate are respectfully declined. Please note that we can only send confirmations during our normal office hours, Monday to Friday, so there may be a slight delay. We stop accepting online bids a few hours before the auction starts – if you have missed the online deadline please note that we may still be able to accept faxed written bids (more information is given in 3 below).

3) Written bids
Telephone bidding

Don't worry if you are too busy to attend an auction in person: Spink can bid for you. All you have to do is decide on your maximum bid for a particular lot and then send us a completed absentee bid form (written instructions that allow us to bid for you) at least 24 hours before the auction. Absentee bid forms are printed in our catalogues or are available from our offices or online. We will then try to obtain the item for you at the lowest possible price.

4) Bidding by telephone
If you want to feel as though you are in the room when you bid, even if you are miles away, you can bid by telephone. To arrange telephone bidding, simply contact info@spink.com or phone us on +44 (0)20 7563 4000 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 free of charge but is usually only available for lots with minimum low estimate of £1,000.

Sale Results

Sold!

In addition to the Hammer Price, the Buyer must pay us the Buyer’s premium at a rate of 20% of the final hammer price of each lot up to and including £2,000 and 15% of the excess of the hammer price above £2,000. Full details of charges can be found in the 'Conditions of Sale' printed in each catalogue.

• Successful bidder in person: you are able to collect and pay during the sale itself.
• Successful telephone bidder: an invoice will usually be posted out the day after the sale
• Successful written bidder (by email or post): an invoice will usually be posted out the day after the sale.

If you choose to pay by credit card, you will receive an invoice with your lots according to your specific postal instructions.

Payment

Payment can be made by Visa, Mastercard, cheque, cash, money order or bank wire transfer. For credit card payments made by mastercard or visa, a charge of 2% will be applied. We must receive your payment within seven days of the sale. Once payment has been cleared, you will be given a 'collection order' and you can collect your lot in person or arrange shipping through Spink. Items left with Spink will incur storage charges after a certain period.

From the 03 December 2008 (GB) sale, Payment can be made by Visa, Mastercard, cheque, cash, money order or bank wire transfer. Payment should be made in sterling by one of the following methods:

(i) Direct bank transfer to our account details of which are set out on the invoice. The bank charges, as stated in your invoice, shall be met by you. Please ensure that your client number is noted on the transfer.

(ii) By cheque or bank draft made payable to Spink and Son Ltd and sent to Spink at 69 Southampton Row, Bloomsbury, London WC1B 4ET. Please note that the processing charges for payments made by cheques or bank drafts drawn on a non-U.K bank shall be met by you. Such processing charges will be stated in your invoice. Please ensure that the remittance slip printed at the bottom of the invoice is enclosed with your payment.

(iii) By Visa or Mastercard. A charge of 2% will be applied. Payments exceeding £5,000 are normally not processed over the phone and can normally only be made by the card holder in person whilst on our premises. We must receive your payment within seven days of the sale. Once payment has been cleared, you will be given a 'collection order' and you can collect your lot in person or arrange shipping through Spink. Items left with Spink will incur storage charges after a certain period.

How to buy at auction