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09:00 AM - 17:30 PMApex Auctions Limited+44 1273 224466Apex Auctions Limited is a company based in Brighton, England that specializes in auctioning industrial equipment. They are known for their expertise in the field of machinery and equipment, and are a trusted source for businesses looking to purchase or sell industrial equipment. Apex Auctions Limited is also involved in the economics and law surrounding the auctioning process. As one of the leading auction houses in the United Kingdom, Apex Auctions Limited is committed to providing their clients with the highest level of service and expertise.See more
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9:00 AM - 17:30 PMAustin Gray - Property Auctions & Professional Services+44 1273 201989Austin Gray Property Auctions & Professional Services is a reputable company that specializes in real estate auctions and professional services. They are located in Brighton, England, and offer a range of services related to real estate and housing. Their team of experts is highly knowledgeable in economics and law, making them a reliable choice for anyone looking to buy or sell property. As experienced auctioneers, they have a proven track record of successful sales and satisfied clients.See more
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9:00 AM - 16:00 PMBrighton & Hove Auctions+44 7956 296183Brighton & Hove Auctions is a reputable auction house located in Brighton, England. They specialize in auctions related to economics and law, providing a platform for buyers and sellers to come together and exchange goods and services. With a commitment to transparency and fairness, Brighton & Hove Auctions is a trusted name in the industry.See more
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9:00 AM - 17:00 PMInmans+44 1273 774777Inmans is a UK-based company located in Hove, England. They specialize in Auction Houses, Economics & Law. For more information about their services, please contact them directly.See more
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Insurance Probate & Inventories+44 1273 502097Insurance Probate & Inventories is a company based in Brighton, England that specializes in providing services related to auction houses, economics, and law. They are committed to helping their clients navigate the complex world of insurance, probate, and inventories. The company's exact address is not disclosed.See more
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9:00 AM - 17:00 PMStar Property Auctions & Commercial+44 1273 526800Star Property Auctions & Commercial is a UK-based company that specializes in auction houses, economics, and law. With a focus on providing exceptional services to clients, Star Property Auctions & Commercial has established itself as a leading player in the industry. The company's headquarters are located in Hove, England.See more
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Overview of Auction Houses
Auction Houses are businesses that facilitate the buying and selling of goods, art pieces, antiques and other valuable items through bidding. They provide a platform for buyers and sellers to meet and negotiate prices in a transparent and competitive manner. Auction Houses are popular among collectors, art enthusiasts and investors who are looking to acquire rare and unique items. Many auction houses have a physical location, but some also operate online.
History of Auction Houses
The concept of auctions dates back to ancient Greece, where they were used to sell war loot. In the Middle Ages, auctions were used to sell property and livestock. The first recorded auction in the UK took place in the 17th century. Today, auction houses have evolved to become a major industry, with numerous specialist auction houses catering to different niches and interests.
Types of Auctions
There are several types of auctions, including traditional English auctions, Dutch auctions, sealed bid auctions, and online auctions. English auctions are the most common type of auction, where the auctioneer starts with a low price and raises it until someone bids. Dutch auctions, on the other hand, start with a high price, which is lowered until someone bids. Sealed bid auctions are when bidders submit their bids in an envelope, and the highest bidder wins. Online auctions are conducted digitally, where bidders can participate from anywhere in the world.
Auction House Services
Auction houses provide a range of services to their clients, including appraisal, auction listing, marketing and promotion, bidding services, payment and shipping services. Auction houses also offer storage facilities and insurance services to protect the items during the auction process. They may also facilitate private sales and negotiate prices on behalf of their clients.
Economics of Auctions
Auctions are driven by supply and demand dynamics, and the price of an item is determined by the highest bidder. Auction houses charge a commission fee to the seller and a buyer's premium to the buyer for their services. The commission fee is usually a percentage of the sale price, while the buyer's premium is a percentage of the hammer price. Auctions can be risky, as there is no guarantee that the item will sell, and the final sale price can vary greatly from the estimated value.
Legal Aspects of Auctions
Auction houses are required to comply with the laws and regulations governing the sale of goods and services in the UK. They are required to have a license to operate, and must provide accurate and truthful information about the items being sold. Auction houses must also protect the privacy and confidentiality of their clients, and handle disputes and complaints in a fair and transparent manner.
How to Participate in Auctions
To participate in an auction, bidders must register with the auction house and provide identification and payment details. Bidders may participate in person, by phone or online. Before bidding, bidders should research the item and set a maximum bid limit to avoid overbidding. Bidders should also be aware of the commission fee and buyer's premium, as these will affect the final price.
Benefits of Using Auction Houses
Auction houses provide a unique opportunity to acquire rare and unique items that may not be available elsewhere. They offer a transparent and competitive platform for buying and selling, and provide professional services to ensure a smooth and secure transaction. Auction houses also provide a high level of expertise and knowledge about the items being sold, and may offer additional services such as restoration and conservation.
Risks of Using Auction Houses
Auctions can be unpredictable, and there is no guarantee that an item will sell or that it will sell for the estimated value. Bidders should be prepared to pay a commission fee and buyer's premium, which can increase the final price of the item. Auction houses may also have strict terms and conditions, and may not offer refunds or warranties for items sold.
Choosing the Right Auction House
When choosing an auction house, bidders should consider their expertise and reputation in the particular niche or category of the item being sold. Bidders should also research the commission fee and buyer's premium, as well as the terms and conditions of the auction house. It is also important to ensure that the auction house is licensed and adheres to all legal requirements and regulations.
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