Upcoming Changes to Buyers Premium for Retail Auctions
We would like to inform our valued customers of an important update to the Buyers Premium (BP) rates for our Retail Auctions, effective from Sunday, 1st December 2024.
New Tiered Buyers Premium Structure
To provide greater clarity and transparency, we are introducing a tiered BP structure for Retail Auctions:
- 30.5% (+VAT) for items sold with a hammer price under £10.
- 28% (+VAT) for items sold with a hammer price of £10 or more.
Which Auctions Does This Apply To?
These changes apply only to our Retail Auctions, which include:
- Monday and Thursday Live Auctions
- Timed Auctions of Retail Items
Our other auctions, such as agricultural, architectural, antiques & collectibles, and specialist sales, remain unaffected by this update.
Check Sale Information Before Bidding
We strongly encourage all bidders to carefully review the ‘Important Sale Information’ section provided for each auction. This section contains vital details about the auction terms, Buyers Premium, and any specific conditions you need to be aware of before placing a bid.
If you have any questions or need assistance, our team is here to help. You can reach us at:
- Email: reception@wellersauctions.com
- Phone: 01483 802280
Thank You for Your Support
We appreciate your understanding and continued support as we introduce these updates. With the holiday season fast approaching, we’re looking forward to bringing you even more exciting auctions throughout December and beyond!
Many thanks,
The Wellers Team