AUCTION TERMS
WEEKLY ONLINE AUCTIONS - START WEDNESDAY AT 15:00
ONLINE CLEARANCE / WEEKEND AUCTIONS - START FRIDAY AT 8.30
BRIC-A-BRAC AUCTIONS ARE ARRANGED FROM TIME TO TIME AND START THURSDAY AT 15.00
VIEWING ON THURSDAYS & FRIDAYS 10:00 TO 15:00
COLLECTIONS: MONDAY TO THURSDAY 10:00 TILL 15:00
AUCTION ENTRIES: MONDAY TO THURSDAY (OTHER DAYS BY REQUEST OR PRIOR ARRANGEMENT 10:00 TILL 15:00)
COLLECTION & DELIVERY: EMAIL info@lumsdenauctions.com or CALL 966 792 839
HELP & SUPPORT
What is Online Auction?
An Online Auction is conducted exclusively through our website, www.lumsdenauctions.com. You can register at any time during the auction to bid.
REGISTRATION IN OUR SYSTEM
To ensure seamless bidding at our auctions, all participants must complete a quick registration process on our online platform. Simply provide your first and last name, address, telephone number, and email address. After submitting, keep an eye on your inbox for a validation email (please check your Spam folder just in case). If you encounter any issues receiving the email, don't worry! You can easily request a re-send activation email. Additionally, for added security, we'll send you an SMS with a code to confirm your phone number.
Once your registration is complete, you'll gain access to our latest full catalogue, complete with detailed photos and descriptions for every lot. Join us now to start exploring and bidding on your favorite items!
BIDDING IN ONLINE AUCTION
Once the online auction begins:
1. Sign into your Lumsden Auction account using your email address and password.
2. Click on the auction you wish to participate in and accept all the conditions.
3. Click the green "BID" button to open the bidder console.
4. Place your bids by clicking “Absolute” button and entering your price you want to bid OR setup a “Proxy” bid (see explanation below).
5. All bids are final. In case of any errors, contact us immediately.
PROXY BIDDING
To use Proxy (automated) bidding:
1. Sign into your Lumsden Auction account using your email address and password.
2. Click on the auction you wish to participate in and accept all the conditions.
3. To bid, simply click on the green "BID" button below to the relevant lot photo.
4. Click “Proxy” button and enter your maximum price you want to pay for the item.
Proxy bidding allows you to enter the maximum price you are willing to bid. Our system will automatically place bids on your behalf up to your maximum bid, ensuring you remain the highest bidder.Proxy bidding makes bidding on online auctions easier and less time-consuming for buyers once the auction reserve price has been met if any exist.
Lumsden's online system will automatically place a bid on your behalf for the lowest amount possible up to your maximum bid using an increment bidding system. This allows you to remain the highest bidder for the auction and your proxy bid will remain confidential. Incremental bidding will only take effect once the reserve price has been met if any. To use Lumsdens proxy bidding system enter the maximum price you are willing to bid for the lot in the bid box and ensure you select proxy otherwise the system defaults to Absolute bid, if you make an error you can just can cancel your bids within a 5 minute time by selecting the red dustbin within the lot details
When you win the auction with proxy bidding you pay only the lowest possible winning bid, which may not necessarily be your maximum bid.
Please note: When proxy bidding is used it may appear as if one bidder has outbid another with the exact same amount.
Example: Bidder 1 has set a maximum proxy bid of € 20.00 and Bidder 2 places a bid that matches that amount. Because Bidder 1 placed his/her proxy bid earlier, it has priority and will be the current highest bid. Bidder 2 must then place a new, higher bid of ≥ €20.00 to continue in the auction. This rule applies for any auction with two or more participants.
ABSOLTE BIDDING
An Absolute Bid (or traditional bid) is the “immediate” amount a bidder wishes to pay for an item. If an Absolute bid is successful, the high bid will increase directly to the full amount of the Absolute bid.
Example 1:
Example 2:
Bid Increments
Current price Increment
€ 0.01 - € 50.00 € 2.00
€ 51.00 - € 100.00 € 5.00
€ 101.00 - € 200.00 € 10.00
€ 201.00 - € 1000.00 € 20.00
€ 1001.00 - € 10,000.00 € 100.00
2-MINUTE RULE
This policy reflects the principles of a traditional live auction, where the auctioneer accommodates bids from interested parties, ensuring all bidders have the opportunity to express their interest. To emulate this experience online, we've implemented a 2-minute rule for last-minute bids.
Here's how it works: If a bid is placed online within the final minute of a Lot's scheduled closing time, an automatic extension of 2 minutes will be triggered for further online bidding. This extension continues until 2 minutes elapse without any additional competing bids, ultimately resulting in a winning bid. This mechanism effectively prevents bid sniping at auction close, allowing all buyers ample time to place their bids.
AUCTIONS VIEWING
Goods can be viewed live in our warehouse Thursdays and Fridays 10:00 till 15:00
AUCTION BIDDING TERMS
ALL GOODS ARE SOLD STRICTLY SUBJECT TO THESE TERMS & CONDITIONS. ANY PERSON WHO FEELS THEY CANNOT COMPLY, PLEASE DO NOT BID.
These Terms and Conditions must be strictly adhered to along with the Important Information which is displayed on all auction catalogues. All buyers approved for auction shall be considered to have read, understood and accepted these conditions and will be bound by them
"Lumsden Auctions" refers to Michal Maciazek T/A Lumsden Auctions the Company that owns and operates the www.lumsdenauctions.com website with its registered office at Calle Los Nazarios 11B Formentera Del Segura, Alivante 03179 Spain, Lumsden Auctions is IVA (VAT) registered (No: ESY6180200E).
IMPORTANT
Please remember that by clicking to bid on the internet are a legal commitment to buy and when the hammer goes down or lot closes, you have purchased the goods at that price and in the condition they stand in.
WARNING!! All lots are sold “as they lie” with all faults, typographical, photographical and quantity errors, visible damage or mechanical failings regardless if this deems the item beyond repair. The absence to any reference to the condition of a lot does not imply that the lot is free from faults, imperfections and restorations. Lumsden Auctions will not be held responsible for any damage or defect that has not been notified to the buyer, NO warranty is given or implied.
Lumsden Auctions will endeavour to test & write accurate descriptions on all lots and the following terms may be used when describing lots;
Electrical faults may not always be apparent at the time of testing, therefore no guarantee or warranty is given or implied with any lot. Any description written down in the catalogue or stated at the time of sale is not guaranteed as being correct; the information is ascertained from the goods as seen and is merely for information or identification purposes only. (The catalogue may contain photographical inaccuracies or typographical errors.) The buyer must have examined the goods prior to sale and by relying on their own judgment and assure themselves as to the condition of each item. The buyer must decide whether the description is correct and bid on what they have physically viewed in person and not on what has been described or photographed. Lots are not sold as sample; the buyer shall be deemed to have inspected the lots they buy.
Warehouse Address : Calle Los Alamo, Unit 24 , Poligono Los Barrios, Rojales.
GENERAL WEEKLY, BRIC-A-BRAC AUCTIONS: BUYERS PREMIUM: 10% + IVA @ 21%
We reserve the right to charge a deposit at registration.
BID INCREMENTS
Current price Increment
€ 0.01 - €5.00 € 2.00
€ 51.00 - € 100.00 € 5.00
€ 101.00 - € 200.00 € 10.00
€ 201.00 - € 1000.00 € 20.00
€ 1001.00 - € 10,000.00 € 100.00
We accept cash payments at our Formentera office ONLY.
Lumsden Auctions are traditional Auctioneers. We hold Preview days allowing bidders the opportunity to view and inspect the goods offered prior to bidding. We remind you that if you are a consumer, you have no right of cancellation under the Distance Selling Directive (Directive 97/7/EC). The implied terms of The Sale of Goods Act do not apply to Auction Sales of Second-hand goods (provided, opportunity to attend in person - see DTI Directive The Sale and Supply of Goods to Consumers Regulations 2002).
ALL GOODS ARE SOLD STRICTLY SUBJECT TO THESE TERMS & CONDITIONS. ANY PERSON WHO FEELS THEY CANNOT COMPLY MUST NOT BID.
Please note by clicking the Register to Bid Button you are accepting our Terms and conditions of Sale
AUCTION TERMS GLOSSARY
ACCOUNT NUMBER
An ACCOUNT NUMBER is a unique number assigned to each client for buying and/or selling with Lumsden Auctions. An account number is created the first time a client registers to bid or consigns property with the company.
AS IS
All auction items are sold AS IS, meaning in whatever condition they presently exist, and the buyer accepts the items “with all faults,” whether or not immediately apparent. Lumsden Auctions guarantees the authenticity of that portion of the description of each lot as set out in bold type in the catalog, as amended by oral or written salesroom notes or announcements, which guarantee is in effect for 30 days after the auction in which the item was sold. Said guarantee does not apply to those lots listed as: “in the style of,” “attributed to,” “the school of,” “in the manner of,” or “after.” Lumsden Auctions is not responsible for errors or omissions in the catalog or in written or oral condition reports. All measurements are approximate. Lumsden Auctions makes every effort to describe its merchandise accurately, but in the event that errors occur, Lumsden Auctions shall not be held responsible. It is the bidder’s sole responsibility to be well informed before bidding.
AUCTION
An AUCTION is a public sale in which property is sold to the highest bidder through open and competitive online bidding.
AUCTION HOUSE
The AUCTION HOUSE is the physical location where the day-to-day business, auction previews, and collections. Lumsden Auctions is located at Calle Los Nazarios 11B, Formentera del Segura, Alicante, 03179.
AUCTION PREVIEW (VIEWING)
An AUCTION PREVIEW is a public exhibition prior to the auction where the lots being offered are on display. Prospective buyers will have the opportunity to inspect the lots in person as well as discuss any additional questions with department specialists.
BID
A BID is a binding proposal in an auction to buy property at a specific price.
BID INCREMENTS
BID INCREMENTS are standard increments that the auctioneer will use to request competing bids at a given range of Euro value. It is important to be familiar with these increments to follow along with the sale, so as not to leave an off-increment bid. Lumsden Auctions’ Bid Increments may be found above and in our Terms & Conditions of Sale.
BIDDER
A BIDDER is the individual, entity, or representative seeking to purchase property at an auction. The bidder may bidding live online.
BIDDER NUMBER
A BIDDER NUMBER is an assigned number each bidder receives when registering for an auction.
BUYER
The BUYER is the highest bidder acknowledged by the auction software at the close of each lot.
BUYER’S PREMIUM
The BUYER’S PREMIUM is a percentage the auction house retains from the buyer, which is added to the hammer price of each sold lot. The Buyer’s Premium schedule may be found in the Terms & Conditions.
CATALOG
A CATALOG is an online listing of all lots offered in a particular auction. Online catalogues are available for all of our auctions, which is where our most current condition reports are can be found..
COMMISSION
A COMMISSION is a confidential percentage fee charged to the seller by the auction house for the services provided in selling their property. This Commission is established by the consignment agreement prior to the auction.
CONSIGNEE
The CONSIGNEE is the auctioneer or auction house that the consignor entrusts to sell property at auction.
CONSIGNMENT AGREEMENT
A CONSIGNMENT AGREEMENT is the binding contract between a consignor and Lumsden Auctions relating to the property consigned for sale, either through auction or a private treaty. The Consignment Agreement includes Lumsden Auctions’ terms and commissions for consignment related services.
CONSIGNOR (ALSO KNOWN AS SELLER OR VENDOR)
The CONSIGNOR is the individual, entity, or representative on whose behalf Lumsden Auctions is selling property.
HAMMER PRICE
The final winning bid is called the HAMMER PRICE. This price does not include the Buyer’s Premium (see above), or any applicable sales tax or shipping costs.
LITERATURE
LITERATURE is any information about a lot’s known current and/or prior published history.
LOT
A LOT is an object or group of objects offered for sale as one unit. Lots are numbered and sold in consecutive order.
ONLINE ONLY AUCTION
ONLINE ONLY AUCTIONS are auctions that are offered exclusively through live online bidding platforms and are not conducted in front of a live audience. Prospective clients may still view the lots in person either during regular auction preview hours or by appointment. As a courtesy, Lumsden Auctions offers clients the ability to leave absentee bids (but not telephone bidding) for Online Only Auctions.
OPENING BID (OR STARTING PRICE)
The OPENING BID is the amount the auctioneer will start a given lot.
PRIVATE SALE
A PRIVATE SALE is an agreement between the auction house and the consignor to sell an item privately to a prospective buyer. Please note all items scheduled to sell at auction will be offered at auction, unless otherwise withdrawn by the consignor. Auction lots are not available for Private Sale prior to the auction.
PRICE REALIZED
The PRICE REALIZED is the final purchase price of a lot, which includes the hammer price with the buyer’s premium.
PROVENANCE
PROVENANCE is any information about a lot’s known current and/or prior ownership history.
REGISTRATION
When you REGISTER with Lumsden Auctions, you provide us with information that includes your identification, name, billing address, and phone number in order to bid. Only registered bidders are allowed to participate in any given auction and must register separately for each individual sale.
RESERVE
A RESERVE is a confidential minimum price, below which an item cannot be sold. A consignor is able to arrange a reserve with the auction house prior to the auction. In most instances, if a reserve is set, the reserve is less than the low estimate.
TERMS AND CONDITIONS OF SALE
TERMS AND CONDITIONS OF SALE is the terminology used to dictate the buying and selling of property. By placing a bid, clients are agreeing to Lumsden Auctions Terms and Conditions of Sale. Click here to see Lumsden Auctions’ Terms and Conditions of Sale.
VIEWING
A VIEWING is a preview of the property held in advance of an auction. You can schedule a private viewing at Lumsden Auctions or attend one of our public viewings in advance of an auction. Viewings are open to the public at no charge.