100. Application of these terms. SWVA’s standard Terms and Conditions of Entry and Sale continue to apply wherever relevant. These additional terms apply specifically to Classic & Performance Auctions and take precedence where they expressly differ from SWVA’s standard terms.
101. Registration and deposit. Bidding numbers are essential. Buyers must register before bidding. Private buyers must provide a £1,000 card pre-authorisation upon registration, without a payment surcharge. Following a successful purchase, SWVA will capture the authorised funds and credit them against the amount due. If no purchase is made, SWVA will release the authorisation; the card issuer determines when the funds become available again. For provisional bids, the authorisation will remain in place pending the outcome within the applicable commitment period.
102. Car and motorcycle buyer’s premium. 10% of the Hammer Price plus VAT, subject to a minimum of £150 plus VAT per lot. At 20% VAT, this is 12% inclusive of VAT, with a minimum of £180.
103. Automobilia buyer’s premium. 10% of the Hammer Price plus VAT, subject to a minimum of £10 plus VAT per lot. At 20% VAT, this is 12% inclusive of VAT, with a minimum of £12.
104. Payment. The full outstanding balance must be received in cleared funds by bank transfer no later than 12 noon on the Monday following the auction.
105. Completed sales. For a lot declared sold, a binding contract is formed at the fall of the hammer. This applies to accepted bids made in person, online, by telephone or by commission bid.
106. Provisional bids. Where the auctioneer closes bidding and expressly records a provisional sale subject to The Vendor’s approval, the bidder is bound by their final bid from the point at which bidding closes. The bidder is not required to increase that bid during subsequent negotiations.
107. Provisional bid commitment – 48 hours. The bidder must stand by their final provisional bid for 48 hours following the auction, or for a longer period where expressly agreed with SWVA. The sale becomes unconditional when The Vendor’s acceptance is communicated to the bidder within that period. If acceptance is not communicated in time, the provisional commitment expires unless an extension is agreed with the bidder.
108. Collection and storage. Purchased vehicles must be collected within 14 calendar days of the date of sale. Cleared payment is required before release. Storage is charged from the day after this period expires until collection at £15 plus VAT per day (£18 inclusive of VAT at 20%). The two-week collection period does not extend the payment deadline.
109. Condition and inspection. Vehicles are sold as seen in their condition at the time of sale. No additional contractual warranty is provided unless expressly stated. Buyers should inspect the vehicle and available documents before bidding and satisfy themselves as to its condition and suitability.
110. Mileage. Unless expressly stated otherwise, mileage is unverified. Any odometer reading quoted is the displayed reading and is not a guarantee of the total distance travelled.
111. Engine and chassis details. Details taken from HPI or other records do not, by themselves, confirm the numbers physically fitted to the vehicle or establish matching-number originality. Buyers requiring verification should seek clarification or arrange inspection before bidding.
112. HPI checks and paperwork. SWVA’s system performs an HPI check on every vehicle entered. Any recorded insurance write-off category is disclosed in the website listing and printed auction catalogue. A Classic or Performance vehicle may be sold without a V5C or other paperwork where the absence of those documents is clearly disclosed before bidding.
113. Seller’s commission for cars and motorcycles. 6% of the Hammer Price plus VAT, subject to a minimum of £150 plus VAT per vehicle, unless otherwise agreed in writing. At 20% VAT, this is 7.2% inclusive of VAT, with a minimum of £180.
114. Entry and Reserve. No entry fee applies. The Reserve, or an instruction to sell without Reserve, must be agreed before sale. Vehicles will not be advertised until a completed and signed entry form has been received by the office.
115. Auctioneer’s 5% Reserve discretion. The auctioneer reserves the right to exercise discretion to accept a bid up to 5% below the agreed Reserve on any lot subject to a Reserve.
116. Vendor disclosures and corrections. The Vendor must disclose known faults, outstanding finance, significant modifications and inaccuracies in the vehicle description, and notify SWVA promptly of any changes before sale. Material corrections will be added to the website listing and announced by the auctioneer before bidding on the affected lot. Corrections will also be communicated through the relevant bidding channels so that remote and commission bidders are informed before their bids are acted upon.
117. Withdrawal after website publication. A withdrawal charge applies only if The Vendor withdraws the vehicle after it has both been entered into SWVA’s auction system and publicly advertised on the SWVA website for that sale. No withdrawal charge under this provision applies before both steps have occurred.
The charge is equivalent to the agreed seller’s commission and applicable buyer’s premium calculated on the agreed Reserve, subject to minimum components of £300 and £500 respectively, plus VAT where applicable. At 20% VAT, the combined minimum is £960. For entries without a Reserve, the calculation basis must be agreed in writing before advertising.
The charge covers preparation, marketing and anticipated lost remuneration. Allowance will be made for costs saved and loss reasonably avoided or recovered elsewhere, without duplicate recovery.
118. Statutory rights. Nothing in these terms excludes or restricts any statutory right or liability that cannot lawfully be excluded or restricted.