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I'm confused by Spink auction terms

They have a Buyer's Premium (20% of hammer), and a VAT on select items on hammer and/or just the buyer's premium. And, for live bidding, is SpinkLive different than the-saleroom.com? Using the-saleroom.com incurs a 3% fee on the hammer price.

As an American who cannot make it there for live bidding, what are my fees? As near as I can tell, the stuff I want has VAT only on the BP and I plan to use SpinkLive (which hopefully has no additional charge).

Help?!?

EVP

How does one get a hater to stop hating?

I can be reached at evillageprowler@gmail.com

Comments

  • You can subtract all vat charges from the invoice.
    Richard Frajola
    www.rfrajola.com
  • EVillageProwlerEVillageProwler Posts: 5,856 ✭✭✭✭✭


    << <i>You can subtract all vat charges from the invoice. >>



    How? Please consider me a complete novice at bidding in overseas venues.

    How does one get a hater to stop hating?

    I can be reached at evillageprowler@gmail.com

  • Spink invoices have a total due that includes shipping, VAT and buyer's premium. On material shipped to the US there is a box below that large amount due that says amount due for US exported goods. This is the amount you pay and it has the VAT amount already subtracted.
    Richard Frajola
    www.rfrajola.com
  • EVillageProwlerEVillageProwler Posts: 5,856 ✭✭✭✭✭
    Thanks, Mr. Frajola.

    Anyone have any comment regarding my SpinkLive vs the-saleroom.com question?

    How does one get a hater to stop hating?

    I can be reached at evillageprowler@gmail.com

  • I bid on the book as their proprietary auction system was too flakey last time I used it (about 5 years ago). If there is something I must own, I use an agent to bid for me.
    Richard Frajola
    www.rfrajola.com
  • EVillageProwlerEVillageProwler Posts: 5,856 ✭✭✭✭✭
    Actually, I'm considering an agent too. Like all of us, I have limited funds and want to spread them out to two or three coins judiciously.

    EVP

    How does one get a hater to stop hating?

    I can be reached at evillageprowler@gmail.com

  • JCMhoustonJCMhouston Posts: 5,306 ✭✭✭
    Spink called for you EVP, they said "all your monies are belong to us!"

    In their UK auctions I have called ahead of time and agreed on maximum bids for individual coins and then a maximum overall total to stop at. I'm not sure if they were happy about it but it worked.
  • BoosibriBoosibri Posts: 12,395 ✭✭✭✭✭
    Agree with what has been already said regarding VAT.

    On the saleroom vs. Spinks systems saleroom clearly charges Spinks the +3% as a commission for all bids which they are passing on to the customer. The advicce of going through an agent or prearranging bids through the company seems like a good plan. You can likely also use Numisbid or sixbid I imagine to place your bids ahead of the sale.
  • NapNap Posts: 1,755 ✭✭✭✭✭
    I bought from them once and BP was 20%

    Got your eye on an Aethelstan church piece??? image
  • NapNap Posts: 1,755 ✭✭✭✭✭
    I should add I used Spink Live
  • EVillageProwlerEVillageProwler Posts: 5,856 ✭✭✭✭✭


    << <i>Got your eye on an Aethelstan church piece??? image >>



    If I can win one of the wholesome pieces in the sale, that would please me. But, that type is actually my second choice.

    EVP

    How does one get a hater to stop hating?

    I can be reached at evillageprowler@gmail.com

  • NapNap Posts: 1,755 ✭✭✭✭✭


    << <i>If I can win one of the wholesome pieces in the sale, that would please me. But, that type is actually my second choice.

    EVP >>



    Maybe a St. Peter's sword to suit your fancy??

    Hard to tell from Spink's pictures what is wholesome. Apparently some of the coins were harshly cleaned. Having a local agent who can view the coins in person may be the best way to go.

    I don't think any of those will be in my budget. Perhaps I'll bid on one of the hacksilver pieces.

  • YQQYQQ Posts: 3,340 ✭✭✭✭✭
    Bottom line for all auctions in GB:

    If your goods are delivered to you or your agent within either a GB or EU address, Vat is payable on the total amount, hammer price plus Juice, UNLESS you have a EU tax number!

    If you have a address outside the EU, NO VAT is payable on the hammer price if the auctioneer or his bonded agent will directly export your goods. However, VAT is payable on the Juice ( auctioneers fees) because it is a service performed within GB, and hence taxable.

    If you are physically at the auction, pay for your winnings and take possession right there, VAT is payable on everything.

    HOWEVER, if you then present your items together with your invoice to customs upon leaving the LAST EU country ( not necessarily GB) for inspection and Export certification, they will stamp that you exported the items.

    Then you send the original invoice back to the auctioneer and they will then refund the VAT paid, less a handling fee ( good client might get it done for free).

    IF the auctioneer or his agent directly export your goods, Vat is only charged on the juice.

    some EU countries will also accept a certified customs ENTRY by your home country , stating that the items have been imported into a country outside the EU.

    above was correct until 2 weeks ago and I believe is still correct.

    Today is the first day of the rest of my life
  • EVillageProwlerEVillageProwler Posts: 5,856 ✭✭✭✭✭
    Thanks again for all the responses. I went with a representative who emailed me his feedback on the lots of interest just a couple of hours ago. As his feedback proved vastly different than my hopes for the top lots of interest in the sale, I have to say that I'm already pleased with the results (of the representation). Nap's warning about the Ryedale pieces was wise. My top lot, not Ryedale, was deemed not for me.

    So, I will save my war chest until the next major piece comes along. In the meanwhile, I'll have to find a way to scratch my itch.

    EVP

    How does one get a hater to stop hating?

    I can be reached at evillageprowler@gmail.com

  • NapNap Posts: 1,755 ✭✭✭✭✭


    << <i>
    I don't think any of those will be in my budget. Perhaps I'll bid on one of the hacksilver pieces. >>




    No such luck there.

    The hacksilver pieces went for £1200+ on estimates of £80-100.

    Most of the hoard items brought prices above or at high end of estimate, despite the impaired nature of these coins.

    As for why that was, well many of these were ridiculously rare pieces that just aren't available no matter one's resources
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