Terms and conditions

All auctions conducted are both physical and online bidding, Online bids are to be submitted through ‘capitalasset-auctions.co.uk, iBidder.com & BidSpotter.co.uk

All auctions conducted are ‘TRADE ONLY’ meaning all Lots listed are being auctioned under a ’Trade Only Agreement’ – All sales are ‘Non Consumer Sales’ meaning All Lots are being auctioned and sold with no consumer ‘Rules, Regulations or Cooling Off Periods’

This sale is not for the purpose of the ‘Consumer Right Act 2015’ (Which replaced the Sales of Goods Act 1979) (As amended by the sales and supply of goods act 1994) And the ‘Unfair Contract Terms Act Regulations’ 1977 / 1999 and the buyer shall not seek to rely upon any conditions or warranties implied thereby.

By Registering & Bidding on Lots within our auctions, The ‘Account Holder’ acknowledges that they have completed their own research, Undergone their own due diligence, and have fully inspected such Lots they wish to bid on.

The ‘Account Holder’ is agreeing that the ‘Auctioneer & Vendors’ make no Representations, Warranties or Guarantees in any way, express or implied.

The ‘Account Holder’ also agrees to the set ‘Terms of Sale / Terms & Conditions’ listed at the time of ‘Registration’ is received to bid, The ‘Account Holder’ also indemnifies the ‘Auctioneer – Capital Asset Auctions’ as well as any of their ‘Vendors’ against any claims as to fitness for use or purpose.

Capital Asset Auctions, Strongly advise all ‘Bidders / Account Holders’ to read and fully understand all ’Terms of Sale / Terms & Conditions’ prior to registering and submitting any bids.

Auctioneer: 

Capital Asset Auctions

“We are a validated auction house and have been approved & vetted by ATG Media (Auction Technology Group), To list our sales through the iBidder.com & BidSpotter.co.uk

platform.

Sales Address: 

Walton New Road Business Park, Geoff’s Drive, Upper Bruntingthorpe, Leicestershire, LE17 5RD

(Please Note: Lot locations may vary and be located elsewhere for Collection / Viewing – Please refer to lot description for clarification)

Registered Address:

Capital Asset Remarketing Limited, Cromwell House, Mill Street, Cannock, Staffordshire, WS11 0DP

Contact Details:

Telephone: 0116 3214 301

Option 1: General Enquiries

Option 2: Sales

Option 3: Accounts

Option 4: Booking For Collection / Delivery

Option 5: Anything Else

Email Enquiries: info@capitalasset-auctions.co.uk

Email Sales: accounts@capitalasset-auctions.co.uk

Website: www.capitalasset-auctions.co.uk

(1) Register to bid: 

(Find a virtual video tutorial on our website for assistance)

You can register either by using capitalasset-auctions.co.uk – iBidder.com or BidSpotter.co.uk

Once you’ve created a ‘Bidders Account’ you can sign up to bid on any sales listed through Capital Asset Auctions, iBidder or the BidSpotter platform.

*PLEASE NOTE*

Upon submitting your registration to bid, You may require ‘Manual Bidding approval by the Auctioneer’

This may also indicate that you may be required to provide additional information to your ‘Buyers Account’

Capital Asset Auctions, May require a copy of a Drivers License and or a utility bill to confirm the identity of the ‘Account Holder’.

(1.1) How to Bid:

(Find a virtual video tutorial on our website for assistance)

First you will need to register for the sale that you would like to take part in, Then you will be required to agree to all of the ’Terms of Sale / Terms & Conditions’ (Depending on your purchase history, Your ‘Buyers Account’ may need to be manually approved by the ‘Auctioneer’ – Should this be the case the ‘Account Holder’ may need to contact the ‘Auctioneer’ directly to seek bidding approval by calling: 0116 3214 301 (Option 2)

*PLEASE NOTE*

The ‘Auctioneer’ may require additional information to be supplied in order to verify the ‘Account Holder’ to be approved for bidding.

Once you’ve successfully registered and your account as been approved for bidding, You will be able to bid on all lots listed within that sale.

(Please be aware when bidding on multiple lots you are bidding to buy all lots as all bids submitted are valid)

(1.2) Bidding Online or Physical:

All ‘Account Holders’ are able to bid either online via capitalasset-auctions.co.uk, iBidder.com or Bidspotter.co.uk

once registered to bid and your account is approved for bidding.

All registered ‘Account Holders’ are also able to bid Physically by attending the ’Sales Address’

(2) Account Holder:

The ‘Account Holder’ is liable for all bidding activity when bidding either ‘Online’ or ‘Physically’

The ‘Account Holder’ is agreeing on their “Own or Companies” behalf to complete any purchases either by ‘Winning Bid(s) Submitted / Provisional Accepted Bids’ on Lot(s) they’ve bid on prior to the auction ending.

(2.1) Account Holder Consents:

The ‘Account Holder’ is agreeing to be 18 years or older & a Full U.K Resident

*PLEASE NOTE*

Overseas ‘Account Holders’ may still be approved to bid on any sales, Subject to the ‘Auctioneers’ discretion.

The ‘Account Holder’ acknowledges that upon Registration approval, They will be given a unique ‘Buyers Account Number’

Example:

capitalasset-auctions.co.uk: CAP10001

iBidder.com: IB12345

BidSpotter.co.uk: BS12345

The ‘Account Holder’ also gives Capital Asset Auctions the authority to add information to the ‘Buyers Account’ – Such as; Additional Contact Information, Company Information, Address Information Etc…

(3) Winning Bids:

If you have successfully won any Lot(s) within the sale, Your payable invoice will follow by both Email & Business WhatsApp Messenger (When Available)

All Lots purchased are subject to a set ‘Payment Deadline’ advised within the ‘Item Description’ – Please Refer to (5.1)

(3.1) Set Reserves: 

Once a Lot meets the set ‘Reserve’ – The Lot will be updated in both the ‘Item Headline’ & ‘Item Description’ as stating: *ON SALE / RESERVE MET* – See (3.1)

All Lots listed have a ’Set Reserve’ price, But do be advised Capital Asset Auctions may be instructed by the ‘Vendor’ to lower or remove the ‘Set Reserve’ price on any Lot(s) at anytime during the sale.

(3.2) Provisional Bids:

By bidding on any Lot(s) within the sale, All bids submitted are taken as ‘Provisional’ wether the reserve price has been met or not, As the ‘Account Holder’ you are agreeing that Capital Asset Auctions will submit all ‘Maximum Bids’ to the Vendor(s) for consideration.

Should the Vendor(s) decide to accept your ‘Maximum Bid’ submitted, The ‘Account Holder’ will be notified within 24 hours by receiving your winning payable invoice with a set payment deadline. – Please Refer to (5.1)

*PLEASE NOTE*

When bidding on any Lot(s) you do not need to be the highest bidder to win the item, Capital Asset Auctions reserve the right to submit all ‘Maximum Bids’ towards our Vendor(s) for consideration, Therefor all ‘Maximum Bids’ which the ‘Account Holder’ has submitted on single or multiple lots are valid for 24 Hours after the sale has ended.

(3.3) Vendor Bid Acceptance:

Capital Asset Auctions, Will contact Vendor(s) on the ‘Account Holders’ behalf with all ‘Maximum Bids’ 

This being said, Should the ‘Vendor’ wish to accept any ‘Maximum Bid’ submitted by ‘Account Holder’ – Any Lot(s) in question may possibly be ended prior to the end of auction if any ‘Maximum Bids’ have been accepted by the ‘Vendor’

*PLEASE NOTE*

If any Lot(s) have been ended early due to ‘Vendors’ bid acceptance, Any Lot(s) would be payable in full by 5pm the following day.

(3.4) Buy-it-Now:

Capital Asset Auctions, Offer on certain Lots listed through capitalasset-auctions.co.uk, iBidder.com or BidSpotter.co.uk platforms – A “Buy-it-Now” option.

*PLEASE NOTE*

Buy-it-Now Lots will not include any applicable ‘Buyers Premium’ or ‘VAT’ Charges unless otherwise stated – Please Refer to (6 & 7)

(3.5) Lot Removal:

Capital Asset Auctions, Reserve the right to remove any Lot(s) listed within any sale at any given time, Without giving the ‘Account Holder’ prior notice.

(3.6) Lot End Times:

Capital Asset Auctions, Reserve the right to amend end times during ’Timed Auctions’

(3.7) 10 Minute Bidding Rule:

When Lots are coming to a close, Should any other ‘Account Holder’ wish to bid on the Lot, The end time will be extended by 10 minutes (Auto generated)

*PLEASE NOTE*

This will keep occurring should another bid be placed on any Lot which has less that 10 minutes remaining.

(3.8) Removal of Bids:

Removal of any Submitted Bid(s) placed by the ‘Account Holder’ is strictly not available under any circumstances, During or After the sale has ended.

(4) Invoicing:

Once the sale for each individual Lot has ended, The ‘Account Holder’ will be invoiced in accordance to their accepted bids.

All payable invoices will be sent by both Email & Business WhatsApp Messenger (When Available)

When the ‘Account Holder’ has won multiple Lots, Capital Asset Auctions will invoice all Lots purchased on a single invoice and as one transaction.

*PLEASE NOTE*

Capital Asset Auctions, Will invoice you The ‘Account Holder’ as follows:

Invoice ‘1 of 2’

This will be your initial invoice which will contain the Lot(s) which you’ve been invoiced for, This invoice will be for the ‘Hammer Price’ only.

Invoice ‘2 of 2’

This will follow once invoice ‘1 of 2’ has been paid, This invoice will include the applicable ‘Buyers Premium’ charged & ‘VAT Charges’.

(4.1) Invoice Updates:

Should the ‘Account Holder’ be bidding on multiple Lots within the sale, Capital Asset Auctions may add any additional Lot(s) to the ‘Account Holders’ payable invoice.

*PLEASE NOTE*

All Lots which are payable by the ‘Account Holder’ are deemed as one transaction.

Any Lot(s) purchased will only be available for Collection / Delivery once the ‘Account Holders’ account statement has been cleared by Capital Asset Auctions.

(5) Payments:

All payments are to be made by ‘Bank Transfer’ only (Within the set payment deadline – Please refer to 5.1)

Payment are to be made to:

Capital Asset Remarketing Limited

Santander Bank (Wellingborough Branch)

Account Number: 10298990

Sort Code: 09-01-29

IBAN: GB14ABBY09012910298990

SWIFT BIC: ABBYGB2LXXX

*PLEASE NOTE*

When making payment, Please use your invoice number as a payment reference.

As an Auction we DO NOT accept any Cash, Cheques or Card Payments of any kind.

(5.1) Payment Deadline:

Capital Asset Auctions, Set a payment deadline on all lots listed within the sale, Set payment deadlines for each individual lots will be listed in the ‘Item Description’ 

(5.2) Deposit Request:

Capital Asset Auctions, Reserve the right to request any ‘Account Holder’ for a deposit up to £2000 to be paid by bank transfer upon request, Which will either be deducted from any Lot(s) Purchased or Refunded by bank transfer within 3 working days.

The ‘Account Holder’ can also request that Capital Asset Auctions retain any deposit for future Registrations.

(5.3) Late Payments:

Should the payment deadline be exceeded by the ‘Account Holder’ Capital Asset Auctions will apply a 3% +VAT ‘Late Payment Fee’ onto the ‘Account Holders’ payable invoice.

*PLEASE NOTE*

This 3% +VAT ‘Late Payment Fee’ is charged at a daily rate, 7 Days a week. (Including Bank Holidays)

(6) Buyers Premium:

Each individual lot will carry a ‘Buyers Premium’ which ranges from 20-35% Applicable to the ‘Hammer Price’ – This will differ from lot to lot, So please refer to the ‘Additional Fees’ tab on each individual lot for clarification on the ‘Additional Fees’ which are applicable.

All ‘Buyers Premium’ charges are subject to VAT @ 20%.

(7) VAT Charges:

All lots will be subject to VAT @ 20% – Applicable to the ‘Hammer Price’ (Unless Otherwise Stated)

Various Lots may be sold with NO VAT Applicable, Please refer to the ‘Additional Fees’ tab where VAT will be displayed as (VAT / Sales Tax) as well as the ‘Item Description’ for clarification)

(7.1) VAT Refunds:

Capital Asset Auctions, Will offer VAT refunds to overseas buyers on any Lot(s) purchased.

However, This is subject to the ‘Account Holder’ providing proof of Export & Re-Registration via Email & Post.

The ‘Account Holder’ must also provide a full VAT Registration Number to be eligible to request such a refund, Any VAT Number provided must be the VAT Number directly linked to the Company details located on the buyers invoice or directly linked to the ‘Account Holders’ name.

All account details, Invoice details and Export Paperwork detail must match, there can be no amendments made too Accounts, Invoices or Paperwork once any Lot has been sold.

Correct documents must be provided within a 3 month period of the date of purchase shown on the ‘Account Holders’ invoice.

*PLEASE NOTE*

All overseas ‘Account Holders’ must pay any applicable ‘VAT Charges’ with no exceptions, But a ‘VAT Refund’ will be offered as addressed above.

‘VAT Refunds’ will only be issued under the ‘Auctioneers Discretion’.

(8) Cancellation:

Capital Asset Auctions, Allow the ‘Account Holder’ to cancel any Lot(s) which their bid has been accepted on, However by opting to cancel any Lot(s) this would incur the following charges:

Cancellation Fee, Charged at the rate of the ‘Buyers Premium’ applicable to each Lot (As shown within the ‘Additional Fees’ Tab)

Re-Auction Fee: £120 +VAT

Admin Fee: £55 +VAT

(9) Viewing of Lots:

Capital Asset Auctions, Advise viewing to all Lots listed within the Auction, This allows all potential buyers to fully satisfy themselves prior to bidding.

To arrange viewing, please contact 0116 3214301 (Option 4)

*PLEASE NOTE*

Viewing is by strict appointment only, Viewing must take place prior to placing any bid(s) on the lot(s) you wish to view & prior to the auction ending.

Viewings are strictly NOT available after this stage.

(9.1) Inspection of Lots:

Capital Asset Auctions, Strongly advise and welcome any inspection on Lots listed within the sale, We welcome AA, RAC or an Independent Specialist to attend and inspect any Lot(s) listed which the ‘Account Holder’intends to bid on (At the ‘Account Holders’ expense)

As a ’TRADE ONLY AUCTION’ we do not offer any grading system on any lot(s) listed within the sale, Which is why we allow inspections prior to bidding, Capital Asset Auctions will NOT accept any complaints of any defects if potential bidders should fail to view prior to biding.

*PLEASE NOTE*

All inspections are by strict appointment only & when Capital Asset Auctions can accommodate such inspections.

Such inspections can only be carried out prior to the ‘Account Holder’ placing any bids on any Lot(s) & prior to the auction ending.

(9.2) Lot Listings:

Capital Asset Auctions, Provide an ’Item Description’ on all lots listed, This information including all of it’s content is for ‘Guidance Purposes Only’ and is not to be relied upon, We strongly advise ALL bidders to undergo their own investigations & due diligence on any lots of interest, Prior to the auction ending to fully satisfy theirselves.

Such As: V5 Status, Mileage, Condition, Warranty, Year of Manufacture, Service Records, Spare Keys, MOT History & Any Further Due Diligence

*PLEASE NOTE*

Such investigations are to be carried out by the ‘Account Holder’ prior to bidding on any lot(s) of interest, Should such investigation take place after any bid(s) have been submitted, No complaints will be accepted and will be rejected by Capital Asset Auctions and all bid(s) will remain valid to the ‘Account Holder’.

(10) Running Condition:

When within an ‘Item Description’ a lot suggests ‘Runs and Drives’

This means that the vehicle was in an operating condition at the point of photographing, This is not to be taken under any assurance that the vehicle is in a ‘Road legal / Road Worthy’ condition and can be driven on a public highway.

Should Capital Asset Auctions be aware of any known faults or defects to any Lot(s) operating condition this will be listed with our ‘Auctioneers Remarks’ – Please refer to (13)

(10.1) Non Runner

When any lot is being sold as a ‘Non Runner’ this will be listed within the ‘Auctioneers Remarks’ – Please refer to (13)

IE: Vehicle won’t start, No Keys or Any other issue – Capital Asset Auctions do not carry out any inspections in such cases.

(10.2) V-Car Register:

Where it has been brought to our attention that any lot has been involved in previous recorded accident damage, This will be listed within the ‘Auctioneers Remarks’ – Please refer to (11)

V Car Register Summary:

CAT A: Scrap Only

CAT B: Braking Only

CAT C / S: Damaged Repaired

CAT D / N: Lighter Damage Repaired

(10.3) Recorded Mileage / Hours:

Each Lot (Where Applicable) will have a Mileage / Hour Reading displayed in both the ‘Item Description’ & a Photograph Showing the Recorded Mileage / Operating Hours, No Mileage / Hours Reading is to be deemed ‘Warranted’ unless otherwise stated.

Mileage Warranted: When the Recorded Mileage / Operating Hours are being ‘Warranted’, This can be by way of: Service History, VOSA Checks, Vendor Advice, Etc…

Mileage Not Warranted: When the Recorded Mileage / Operating Hours are ’Not Warranted’, This may be due to a VOSA Mileage Discrepancy / Dispute, HPI Dispute, Possible Speedometer Change or Vendor Advice.

*PLEASE NOTE*

The information provided by Capital Asset Auctions regarding Mileage Recordings / Operating Hours, Are strictly for ‘Guidance Purposes’ only and should not be relied upon, Therefor it would fall upon the ‘Account Holder’ to do the own due diligence prior to bidding of any lot(s) of interest.

(10.4) Road Tax:

No item will be sold at auction with a valid ‘Road Tax’

It would fall upon the ‘Account Holder’ to ensure any Lot(s) purchased are fully ‘Road Legal’ prior to Collection / Delivery.

(10.5) MOT / HGV Plate:

Should any lot listed have any valid MOT / HGV Plate Remaining at the time of Auction, This information will be listed within the ‘Item Description’ where this information is available.

(10.6) Documentation: 

Should any lot have anything such as:

V5 Log Book, Service History, Spare Key, Manufactures Warranty, Warranty Card Etc…

All which are available will be listed within the ‘Item Description’ anything not mentioned must be deemed as not available.

(11) Lot Images:

Images of lots are listed by Capital Asset Auctions for ‘Guidance Purposes Only’ and should not be relied upon to reflect the true condition of any lot / item.

Majority of Lot images will also include a ‘Watermark’ – This is to prevent fraudsters using and copyrighting any of the images which are uploaded.

*PLEASE NOTE*

Lots within the Auction maybe listed with ‘Library Images’ due to still being in transport, In this case images are for illustration purposes only.

We strongly recommend the ‘Account Holder’ to fully satisfy themselves on any Lot(s) condition – Prior to bidding.

Where ‘Library Images’ are uploaded, This will be advised within the ‘Auctioneers remarks’ – Refer to (13)

(12) Registration Plates:

It falls to ‘Account Holder’ to undergo their own due diligence with any visible ‘Registration Plate’ which can be visibly seen within the ‘Lot Images’

*PLEASE NOTE*

Where ‘Library Images’ are used as mentioned in (11) – The vehicles correct registration number will be provided within the ‘Auctioneers Remarks’

In some cases, registration plates may have ‘Plate Covers’ using our Company Logo – If this is the case, Please contact Capital Asset Auctions for clarification of the current registration number.

(12.1) Personal Registration Plates:

Some Lots will be listed showing a ‘Private Registration Number’

In such cases, It falls to the ‘Account Holder’ to undergo their own due diligence to seek if the ‘Private Registration Number’ is included within the sale, No ‘Private Registration Number’ is included within the sale unless otherwise stated.

(13) Auctioneers Remarks:

Should there be any major issues or discrepancies which Capital Asset Auctions have been advised of, Such will be listed within the ‘Auctioneers Remarks’ located within the ‘Item Description’

*PLEASE NOTE*

‘Auctioneers Remarks’ are located at the bottom of each ‘Item Description’

(14) Lot Collections:

Once your account is cleared, All Lot(s) purchased will become available for Collection.

To Arrange Collection please contact our office on Telephone: 0116 321 4301 (Option 4)

*PLEASE NOTE*

Collections are by strict appointment only, No Appointment means No Collection.

Upon Arrival, The Collector – Either the ‘Account Holder’ or ’Third Party’ will require the following:

• Prior Arranged Appointment
• Copy of ‘PAID’ Invoice relating to Lot(s) being collected (Printed or Visible on Mobile Device)
• A Face Mask / Covering (Unless Health Exemption Proof Can Be Provided)
• Hi-Visibility Jacket (Otherwise you’ll be asked to wait outside the collection compound and we’ll get the vehicle released for you)

(15) Deliveries:

Capital Asset Auctions, Can provide a delivery service upon request.

Contact our office on Telephone: 0116 321 4301 (Option 4)

*PLEASE NOTE*

Delivery quotes can not be supplied until the item is fully paid, We maybe able to provide an estimated quote for delivery, Estimates are liable to change due to logistics.

(16) Storage Charges:

Capital Asset Auctions, Reserve the right to charge a daily ’Storage Fee’ of £50 +VAT (Charged 7 Days A Week, Including Bank Holidays)

This charge will be applicable 3 days after winning any item(s)

*PLEASE NOTE*

Storage is charged ‘Per Lot’

Storage Charges are to be settled prior to release of any Lot(s) for Collection / Delivery.

(16.1) Lots In Storage:

Capital Asset Auctions, Reserve the right to re-offer uncollected Lots to recover outstanding ‘Storage Charges’

*PLEASE NOTE*

Any Lot(s) which have been in ’Storage’ after 3 months will automatically be deemed ‘Abandoned’ by the ‘Account Holder’ unless otherwise agreed in writing.

(17) Vendors: 

All Lots Listed can be entered from the following:

Private Owner, Trade Entry, Company Direct, Finance Company, Main Dealer, Finance Repossession, Salvage, Seized Goods Etc…

Capital Asset Auctions, Can assure each ‘Account Holder’ that all of our ‘Vendors’ have been thoroughly vetted by ourselves and have surpassed all authenticity checks conducted.

(18) HPI Checks: 

All Lots listed (When Available) have been Hpi Checked by ourselves prior to be submitted to Auction, However we strongly encourage the ‘Account Holder’ to undergo any further due diligence checks on any Lot(s) they intend to bid on to fully satisfy themselves.

A full ‘HPI Certificate’ can be provided for £40 +VAT to the winning bidder once the Lot(s) have been fully paid for.

(19) Refunds / Buy Backs / Renegotiations: 

Capital Asset Auctions & our ‘Vendors’ – Advise that there will be no Refunds, Buy Backs, Renegotiations or Contributions offered if buyers should be dissatisfied with any Lot(s) purchased throughout the sale.

Please refer to (9, 9.1 & 9.2) for Viewing & Inspection Terms, As well as (13) for any ‘Auctioneers Remarks’

(20) Buyers Account Block:

Capital Asset Auctions, Reserve the right to temporally ‘Block’ any ‘Account Holder’ from any further bidding activity at any stage, Either Before, During or After any sale.

(21) Buyers Account Ban:

Capital Asset Auctions, Reserve the right to have any ‘Account Holder’ permanently *BANNED* from any further bidding activity throughout capitalasset-auctions.co.uk, iBidder.com or BidSpotter.co.uk for non payment of invoice – Refer to (22)

(22) Non Payment:

Should any ‘Account Holder’ not settle any outstanding payable invoice within the ‘Payment Deadline’ advised within the ‘Item Description’ & ‘Invoice’

Capital Asset Auctions will have no other alternative but to apply for Court / CCJ / Bailiff Action on the ‘Account Holder’ as well as any linked associates or Limited Companies linked to the ‘Account Holder’ to recover the outstanding funds.

Capital Asset Auctions, Reserve the right to issue such proceedings to recover all losses incurred by the sale not being completed, Capital Asset Auctions would also apply for any Legal Fees, payable interest and any other costs that maybe incurred.

(23) Terms of Sale / Terms & Conditions:

Capital Asset Auctions, Reserve the right to amend our ’Terms of Sale / Terms & Conditions’ at any given time without notification to any ‘Account Holder / Potential Bidder’ 

*PLEASE NOTE*

Any returning bidders should make themselves fully aware of any updated Terms of Sale / Terms & Conditions.