Auction process

Photography by: Article by: 22 May, 2021

Our auctions work as follows:

  • a listing will be published for a upcoming auction period, usually 7 days, during which website visitors may view listing information relating to the lot and registered users may communicate with the seller;
  • at the end of the upcoming auction period, the auction period will begin; again, this is usually 7 days;
  • during the auction period, an “open ascending price auction” or “English auction” will be administered by our platform: the lot will have a starting price, and the starting price or current bid will be displayed on the auction page; registered users may place bids for the lot, providing that each bid must exceed the starting price / current bid;
  • by placing a bid, a user makes a legally-binding commitment to pay the bid price for the lot in the event that that is the winning bid;
  • in addition, by placing a bid the user commits to paying the buyer’s premium to us, either in the event that that is the winning bid or in the other circumstances described in these terms and conditions;
  • bidders must provide their credit or debit card details, and we will place a hold on that credit or debit card for an amount equal to the buyer’s premium;
  • once placed, bids cannot be withdrawn, suspended or qualified by the bidder; accordingly, you must not bid for a lot unless you have the necessary funds;
  • at the end of the auction period, the highest bid will win the auction, at which point a contract for the sale and purchase of the lot between the seller and the winning bidder will come into force, and the bidder will be liable to pay the winning bid price to the seller under that contract, and the buyer’s premium to us under these terms and conditions; in the event of any dispute regarding the identity of the winning bidder, we may determine this in our absolute discretion;
  • if there are no bidders during the auction period, or the highest bid does not meet the reserve price, then unless we have agreed otherwise with the seller the lot will be available for purchase at the reserve price during the purchase now period, again usually 7 days.

Sellers may not withdraw lots from an auction during the upcoming auction period or the auction period. If a seller acts or purports to act in breach of this paragraph, the seller must pay us liquidated damages equal to the buyer’s premium (calculated using the reserve price, or if there is no reserve price the minimum buyer’s premium).

We may reject or cancel any bid, withdraw any lot, cancel any auction at any time before its conclusion, and/or cancel any purchase now period, in each case in our sole discretion with or without notice or explanation. For the avoidance of doubt, if a lot is withdrawn or an auction is cancelled there will be no winning bid and no contract of sale between the seller and any bidder.

We also reserve the right to extend any auction period. For example, we may extend an auction period if the auction has been disrupted by technical issues.

Related Posts

Legendary

The Spirit of the Scorpion Part 2 – London 2022

Abarth enthusiasts Angelo Eugenio and his friend Geoffrey Fernandez whizzing down The Strand with two big grins pretty much summarises how all Abarth owners feel when they put their foot down and accelerate! Timed perfectly with “Bella Italia” in the background this translates to “Beautiful Italy”, another moment captured complimenting the roots of the Italian hot hatches and paying homage to its founder Carlo Abarth, this was further proof “The Spirit of The Scorpion” was with us again

11 Oct, 2022
Lifestyle

Goodwood Revival 2022

Originally held in 1998 to bring back the atmosphere of race meetings that were held there from 1948 to 1966, The Revival has become an annual three day all-vintage marathon that takes place at the Goodwood Motor Circuit in Chichester, England and attracts visitors from all over the world.

24 Sep, 2022
Legendary

The Spirit of the Scorpion Part 1 – London 2022

On a glorious sunny Sunday morning Abarths came from near and far to enjoy a truly epic day in London. Starting at Battersea Park, the convoy of 9 cars met early and one by one the variety of Abarths appeared in all shapes, sizes and colours. The enthusiast-owned cars were all freshly washed to give London and the world a display as to why the popular Italian cars are so much fun.

In order to understand why Abarth owners are so passionate about their little hot hatches, we must take a step back and recognise the founder of the company Carlo Abarth: a Austrian native from Vienna born as Karl Albert Abarth who later migrated to Italy and adopted the name Carlo Abarth (correctly pronounced by Italians as “EH-BART”). The founding father of the company was bold, brave and a genius in his own right, but also a man who challenged the status quo by not being afraid to take on the big guys. Blessed with a God given mechanical talent and a thirst for speed, in his younger days Carlo Abarth raced motorbikes and would become a five time European Champion – this was even more impressive as Carlo didn’t have a race team behind him, he operated solo and worked on the bikes himself with no support.

21 Aug, 2022
Legendary

GOODWOOD FESTIVAL OF SPEED 2022 – Battle of the Hypercars

The Festival of Speed was back in full force after the long covid break attracting thousands of car enthusiasts from around the world to the historic racetrack in the south coast of England. The theme of for year’s annual event was ‘The Innovators – Masterminds of Motorsport’, which was carefully thought about to display some of the finest cars from each era and showcase their technical advancements in the racing automobile world.

The smell of fuel and burning tyres for petrolheads is music to their ears and the four day event can be considered to be the equivalent of the Glastonbury music festival, with the car parks opening their doors at 6:30am, and the sound of engines revving late in to the evening.

The weekend attracted the biggest names from the motoring world including Sir Jackie Stewart, Jenson Button, Nigel Mansell, and Damon Hill to name a few, as well as celebrities such as Ex footballer David Beckham and famous chef Gordon Ramsey, both of which have their own well regarded car collections.

29 Jun, 2022