Castle Auctions hold regular auctions throughout the year from their salerooms in Limassol and Nicosia, which are well attended and heavily advertised, offering unrivalled coverage, allowing your item(s) a great opportunity to reach thousands of potential buyers and sell for the best price through public bidding.
There are many advantages to selling at auction some of the main ones being;
i) Items you no longer require can be removed from your home or premises and there is no charge for storage until they are sold.
ii) Sellers do not have to go to the trouble of privately advertising their items, handling calls, arranging appointments and negotiations.
iii) The process of selling the items is normally fast and payment of the proceeds is made soon after the auction they are sold.
iv) Sellers often do not know the value of their items the auction is a transparent way of obtaining the fair value of as the bidding public dictate the price.
Castle Auctions charge the sellers a commission, a percentage of the final sale price (hammer price), which is 20% + vat, (subject to a minimum of €3.50 +VAT per Lot). Note: VAT is only charged on the commission, NOT the item costs.
We are on the same side as our sellers – the higher the sale price, we both benefit!
There is no charge to enter your items in the auction and where appropriate, you can set a ‘reserve price’ which we agree is realistic or achievable, the minimum amount you are prepared to sell your item for – naturally during the auction process it is expected and hoped the sale price will be higher.
Kindly note: As we are very busy, entering any items in the auction is BY APPOINTMENT ONLY.
If you do want to enter items in the auction, the best way forward is email us some photographs and list of the items you want to sell, this gives us a really good indication of the category of items, number of Lots, their quality or condition, the sizes and therefore space requirements to manage our saleroom better, etc. We can have initial discussions about any price expectations or requirements you have, to avoid wasting your time later.
Please send these to email@example.com, we look forward to hearing from you!
Below is our full seller’s terms & conditions
• Castle Auctions charge 20% + VAT commission of the sale price (subject to a minimum fee of €3.50 + VAT) of each Lot. Please note, VAT is only charged on the commission value, not the item.
• A reserve price may be agreed at the discretion of Castle Auction, however, ITEMS WORTH UNDER €20 WILL HAVE NO RESERVE AND CAN BE SOLD AT ‘ANY’ PRICE.
• Lots remaining unsold after their 1st (first) auction may be sold by private treaty at the discretion of Castle Auctions subject to a minimum value of their current reserve, if any. Should any Lot remain un-sold, any reserve price will be reduced by 25% for a 2nd (second) Live or Online Timed Auction and further private treaty sale period. From the 3rd (third) auction of any Lot, NO reserve price will apply and the Lot can be sold at any price.
• Identification and Address Verification must be completed before sale proceeds can be released to the seller.
• Electrical and mechanical equipment that is found not working when tested, or to be faulty or incomplete on sale, will be held for collection by the seller for one week, after which it will be sold ‘as is’ with no reserve or disposed of accordingly.
• Items that remain un-sold/uncollected for the period of 3 (three) months will be sold at any price or we reserve the right to dispose of the item without prior notice. A charge may be applied on disposal.
• Items that are entered into the auction remain the responsibility of the owner for all insurance purposes and are entered at the owners’ risk.
• Sale proceeds will automatically be paid by Bank Transfer when all lots are sold, typically within 1 week of their last auction. Amounts up to €200 in value may be collected in cash on viewing days and auction days only, when the cashier is open (typically 12 days after their sale date).
• Monies that remain uncollected for 6 (six) months from the date of sale will be donated to local Charities.
• A seller can collect their items at any time, however if the item has been catalogued a Lotting Fee of €3.50 + vat will apply for each Lot withdrawn.
• Due to the high volume of items being sold Castle Auctions do not take responsibility for contacting sellers to discuss price reductions. All Seller Statements and sale results are sent by email, please provide your email address for regular updates.