Frequently Asked Questions

Buying

Do I need to pre-register to bid?

Yes, in order to be able to place a bid, you will need to register an account with us and make your deposit of £500 (fully refundable if no winning purchase is made).


I can’t make it to the auction. Can I still bid?

Yes, but bids will need to be submitted to us prior to auction day, in writing by email to bids@watchauction.co.uk. Please speak to one of our team for further information.


I’m a first-time buyer, can I buy at the auction?

Yes, of course.


What happens if I’m the winning bidder on the day?

Once the auction has ended you will receive your invoice to pay for your item.


What ID do I need?

Nothing. If you win you will need to provide us with a copy of your photo ID (Passport or Driving Licence) and 1 proof of address (e.g. recent utility or council tax bill.)


What is a Buyer’s Premium?

A fee charged in addition to the hammer price at a rate of 16% +VAT (VAT only applies to the 16% Buyers Fee, not the hammer price)


Can I bid online?

Yes as we are an online auction. We can also accept bids prior to the auction starting should a client not have access to internet at the time of auction.


Can I make an offer on a watch before the auction?

Yes, we can accept bids prior to the live auction. They must be submitted in writing by email to bids@watchauction.co.uk. All written bids are binding. Maximum of 3 bids per customer.


How do I bid at auction?

Once you have signed up and registered, you will need to make a deposit of £500 by credit or debit card (Mastercard or Visa) (fully refundable if no winning purchase is made) and then make a bid via our website.


How much is the deposit?

Our auction requires any active bidders to place an initial deposit of £500 for the auction day, which will be refunded if you have no winning bids. Payment can be made by debit or credit card once registered. You can pay your deposit here.


Why do you need a deposit?

WatchAuction.co.uk asks all potential bidders to make a bidding deposit of £500 through our secure payment facility, STRIPE.

We take this deposit to ensure all bidders are genuine, serious about honouring any bid submitted and to look after the best interests of our consignees.

Deposits are fully refundable, held in a secure client account and repaid within 24 hours of the auction ending. Should you be successful with your bid, your £500 deposit will be offset against the outstanding balance.

Please speak to one of our account managers if you have any questions with regards to our processes or procedures.


How do I make payment?

Deposits can be made by either debit or credit card. Balances must be paid by bank transfer only. Payments made by debit and credit card are capped to a maximum £500.


I want to buy under a company name, can I do this?

Yes sure. We accept bids from companies as well as individuals. If you are a VAT registered company please provide your VAT registration number in your account portal.


Can I telephone bid?

No. The only ways to bid are via email prior to auction or on the website on auction day. Email bids must be submitted to bids@watchauction.co.uk. All bids submitted are binding.


What penalties are there if I cannot complete the purchase?

If you win a watch and fail to complete your purchase your deposit of £500 will be retained by WatchAuction.co.uk. All bids are binding. By bidding at auction you are bound by our terms and conditions.


When do I pay my deposit?

A deposit can be paid at any time, but must be paid before you can register any bids during the live auction.


Can I change my mind after making a successful bid?

No, all bids are binding. If you fail to make the payment on any winning bid, your £500 deposit will be retained as a penalty and your account may face suspension from future auctions.


If I win can I collect, or do you deliver?

You may collect your watch from our office based in Liverpool or our collection points in London & Edinburgh, we can arrange delivery for you to anywhere in the UK (a £35 fee applies for collection and delivery. see here)


Can I pay in instalments?

No, full payment must be made before we will release any watch to you.

Selling

I want to sell a watch through WatchAuction.co.uk

We don't blame you! To put a watch into one of our auctions and become a vendor please contact us at vendors@watchauction.co.uk


Do you sell anything other than watches?

We specialise in watches only.


Can I set the price I’m willing to sell at?

Yes. This is known as a reserve price. We would also conduct an auction valuation on the watch and provide you with a reasonable guide price based on market analysis.


What happens at an auction valuation?

One of our experienced watch technicians will appraise and validate the watch and security checks will be conducted.


Do you accept Euros or any other currency?

Euros will be accepted at an exchange rate provided on the day of auction.


What is a Sellers Fee?

For seller fees please register an account with us and contact a member of our team. If you are a trader and wish to list multiple watches please contact us directly.


Are your seller fees negotiable?

Fees are non-negotiable. For a full list of our fees, please see here.


What happens if it doesn’t sell?

The watch will be returned to seller within 7 days from the end of the auction.


How will my item be listed?

All consigned items accepted into the auction will be photographed and videoed by our team. They will then be listed in the auction catalogue for the next available auction.


Can I sell more than one item?

Yes. If you have more than one item for the auction they will be subject to a review and will be featured separately.


How will I be paid for any item sold?

All payments will be paid by bank transfer within 2 working days of cleared funds received from the buyer.


What is a consignment?

A consignment is an arrangement in which a business, also referred to as a consignee, agrees to pay a seller, or consignor, for merchandise after the item sells.


Can I sell outside of the Auction?

If your item has been accepted for the auction, you are not permitted to do this after consignment has taken place. If you wanted to remove the item from the auction, fees will apply see here.


Can you guarantee to sell my watch?

Unfortunately, we cannot offer a guarantee your watch will sell. However, we only accept watches into the auction that we think have a high possibility of being sold.


Can I set a reserve?

As a seller it is at your discretion if you do or do not put a reserve on a watch. We offer reduced selling fees for anybody who decides to consign lots with no reserve.


How quickly will I be paid?

We offer a 7 day guarantee for all items sold and purchased through WatchAuction.co.uk. We will always keep you updated on your items.


Will you help me set a reserve?

Yes. When we complete an appraisal of your watch we will then give you a realistic expectation of returns. If you are not happy with the reserve price please speak to a member of the team.


What are the terms when someone wins my item?

We expect the funds to be paid to us immediately within 2 business days and then the item is collected or delivered to the successful bidder. Take a look at our 7 day guarantee for more info here.


How long do I consign my watch to you for?

In order for us to complete our authentication and listing process where possible we require 8 to 10 weeks. This allows us to undertake our full marketing procedure and in turn giving you the best chance of receiving the highest possible return.


What if my watch fails appraisal?

The watch appraisal is completed to a number of factors. If it fails we will return the watch to you with a full report provided by a qualified watch technician. Fees may apply.

General

When is the auction catalogue released?

The catalogue is published 2 weeks prior to the auction date however items will be added on a daily basis. Please keep your eye on the catalogue for new items.


Can I request a copy of the auction catalogue?

Yes, it will be made available to download through our website.


What happens if a watch doesn’t meet its reserve?

If a watch does not meet the reserve amount it will not be sold.


Can I view items in person prior to the auction?

Viewings are available by appointment only. You must have registered an account with us and paid your bidding deposit. To arranage a viewing on any lots please call us on 03306 35 35 35 and speak to a member of our team.


When do I need to arrive at the auction?

Viewings are available by appointment only. You must have registered an account with us and paid your bidding deposit. To arrange a viewing click the ‘appointment’ tab on your account.


When are your auctions?

Our auctions are held on the last Sunday of every month.


How long does an auction last?

Our auction is held for 10 hours from 10am-8pm GMT.


What order are the lots offered in at the auction?

The order will be published before the auction starts


When do I receive my watch?

Watches will be dispatched within 2 business days after receipt of cleared funds.


Can I bid if I live abroad?

Yes bids can be placed. If successful, payment would be required to be made in GBP£ and additional delivery fees would be applicable.


What payment methods do you accept?

Registration deposits up to a value of £500 can be made by debit / credit card. Balance payments can only be accepted by bank transfer. Payments are payable in both Pounds and Euros with exchange rates specified on the day.