Auctions Held Online
Tallon & Associates are a specialist consultancy company offering a quality-focused approach to Plant & Equipment Valuation and Disposal Advice.
Based in Manchester with an associated office in Dublin, Tallon & Associates are well placed to provide advice to Accountants, Banks, Finance Companies, Professional Advisors and Private Clients on a range of areas including Corporate Recovery & Bank Support, Corporate Finance, Secured Lending & Residual Valuations, Asset Remarketing & Auctions, and Balance Sheet & Insurance Valuations..
ONLINE AUCTION HELP
What is an online auction sale?
The online auction sale method is a formal sales process similar to a traditional on site auction however all offers are submitted via the internet.
How do I obtain information regarding an asset?
A full description of all the lots included in the sale can be found by clicking the “Click here to view lots and place bids” icon under the sale detail. All the information, including make, model, specification and age, will be detailed for each lot as well as photographs of the asset. Should you wish to view the photographs in isolation, select the “Photo Library” icon from the sale information page.
Should you wish to print a copy of the sale catalogue, select the “Click here to download the catalogue now” icon.
Should you require any further information regarding any lot included in a sale, please contact us.
How do I view the equipment?
We strongly recommend all customers view any items they wish to purchase before bidding.
Generally there will be one or two days to view items for sale in one of our online sales. Please see the auction details page of the auction you are interested in for further information regarding dates and times. Also on this page you can download a PDF version of the auction lot listing. We recommend that you print off a copy of the catalogue prior to attending a view day, as these will not be provided on site.
How do I make a bid?
To be able to place a bid in an online sale you must have first registered with us and received a user name and password. For details of how to register, please read the information in the “Registration and Site Use Help” page. As soon as you receive a password you will be able to log in to the system.
If you have not registered as a site user or logged in to the system you will be unable to place a bid and will be prompted to do so.
Bids can be placed on any lot offered for sale where you see the bid button. When you have logged in, to view all the lots in a sale click on the “Click here to view lots and place bids” icon under the sale detail. All the items in the sale will then be displayed in lot number order. Select the lot you are interested in and place your offer in the enter bid screen. Once you have entered your bid you will be asked to confirm your bid and confirm that you have read and agreed to all the terms and conditions relating to the sale. You will then be sent an e-mail detailing the item you have offered on and confirming the amount bid.
There are two main ways of bidding in an online auction sale.
- The Auto bid system allows you to place the maximum price you are willing to pay for the lot. The auction software will then bid automatically on your behalf up to that amount as other bids come in.
- Incremental bidding is where you place the next incremental bid stated for a lot. (Bidding increment values will vary depending on the item). After placing and confirming your incremental bid you will be notified as to whether your bid is high enough to meat the reserve, or another user has placed an auto bid on the lot.
All online auction sales have an allocated finishing time; however if any bidding occurs in the final 2 minutes of the sale overtime bidding will occur. When any bid is placed the end time will extend by a further 5 minutes. Further bids will not extend the end time unless placed in the final 2 minutes. Overtime bidding is used as with a fixed cut off time the item is sold to the bidder who clicks the bid button last, whereas with overtime bidding the item is sold to the bidder who is willing to pay the highest amount.
If you have been successful with any bids made in an online auction sale you will be issued with a “Request for Payment”. Payment must be made in full by the deadline detailed within sales catalogue, unless prior arrangements have been made with ourselves. Should payment not be made by the stated deadline, we reserve the right to resell the goods to another party.
Accepted payment methods are:
- Bank Transfer
- Bankers Draft
Please note that we must be in receipt of cleared funds prior to the collection / removal of any goods.
All invoices are subject to sales tax at the prevailing rate. For sales made in the UK, VAT is currently charged at 20% on both the hammer price and the buyer’s premium. If goods are subsequently exported from the UK, VAT can be refunded on the hammer price providing sufficient proof of export is supplied to ourselves. Please note the VAT cannot be refunded on buyer’s premium as it is recognised by HM Revenue & Customs as a service charge within the UK.
All equipment must be removed from site by the deadline detailed in the sales catalogue. Should any equipment purchased not be removed from site by the stated deadline, we reserve the right to levy an appropriate storage charge.