Sealed bid auctions

[edbear2]

On reading Dave's 'new old gun' thread, can someone confirm how these work......ie. do you just bid the max you feel comfortable with, and if the highest bid, it's yours

I know that sound a silly question, but if the above is correct, it would seem to be a good system for the auctioneers!

[gingernut]

Thats all there is to it. Saves the trouble of an auction but you have no idea what happens which Im not keen on.
Ok with honourable airgunners- dont like it when a house is involved.

[Garvin]

On reading Dave's 'new old gun' thread, can someone confirm how these work......ie. do you just bid the max you feel comfortable with, and if the highest bid, it's yours

I know that sound a silly question, but if the above is correct, it would seem to be a good system for the auctioneers!

I once bid under £120 for a rifle with Holts and by the time the commission, postage, VAT etc was all paid, it came in at £170, if I remember right. So make sure you've done your sums (I hadn't).

[hwvixen]

I once bid under £120 for a rifle with Holts and by the time the commission, postage, VAT etc was all paid, it came in at £170, if I remember right. So make sure you've done your sums (I hadn't).

Have you still got that Relum Danny....

[Tantomurata]

. do you just bid the max you feel comfortable with, and if the highest bid, it's yours

Yes that is exactly it. There are no bid increments, and no second chances.

If there is an item for example with an estimate £70-£100, and two people put in sealed bids of say £70 and £95 respectively, the person submitting the higher bid wins it, but they get charged £95 plus commission charges, and not simply the next bid increment which would probably have been £72 or £75 in a normal auction room.

If you really want an item and think to yourself, well it's worth £100 but I really want it, and you decide to place an over the top bid of £150, and win it. You will be charged £150 plus commission even if you are the only bidder.

Thus the auctioneer gets the maximum amount that anyone is willing to pay.

[deerwarden]

I just won a bid on Holt's auction for £150, however they charged £42 commission, another£34 vat, and £10 to post the item, do your sums as it cost £236 in the end. deerwarden.

[Garvin]

Have you still got that Relum Danny....

He he. Not a Relum, Chris, as if you didn't know it.

It was very fine collector's grade LNIB Chinese B2 if you must know. I hope I didn't pay over the odds for it.

[DCL_dave]

On reading Dave's 'new old gun' thread, can someone confirm how these work......ie. do you just bid the max you feel comfortable with, and if the highest bid, it's yours

I know that sound a silly question, but if the above is correct, it would seem to be a good system for the auctioneers!

Hi Ed,

Yep, you got it, create an online account with Holts and just place your bid, then wait and see...as others have said (and I'm sure you knew this anyways..) you'll need to take commission, VAT and postage (if applicable) into account too...

For the record, the JM Gem in question (lot 4287) was not advertised as such, and there wasn't any pictures either!...it was just listed as a ".177 break barrel air rifle, signed Belgium, no visible number" the description went on to say that it was a Gem type with some original finish...but I had a good feeling about it so just took a chance and placed a lowish bid of £45 on it - hammer price = £45, commission = £12.16, postage = £25!..., Vat = 2.25, all in cost of £84.41...postage was the stinger but there you go

[ashf9999]

Regarding the VAT element (and it looks like deerwarden suffered this), check carefully on the details page of the lot you are interested in - as some lots you pay VAT on the full value of the goods plus commission, and not just VAT on the commission.