Wellers Auction @ Wadhurst, East Sussex

[cheeky]

Today, Wellers auctions sold a number of slot machines on behalf of Authentic Reclamation Ltd

I was visiting this week and took some photos. The machines were quite tatty and needed restoration although they were mainly complete.

I chose not to bid as the auctioneers were advertising three different rates of commission and when I called them, they couldn’t tell me which one was correct. The promised return call never happened so I gave up.

[frayle]

Some very handsome prices achieved by the Wonders machines, (the power of Saleroom.com ?) - and then there is the cost of collection, new keys and the hours spent on the restoration they are crying out for.
Afterwards however you will have some lovely machines as they appeared untouched by human collector!

[treefrog]

As with many, I thought about going, but could not be bothered. The prize machines were the Wonders I suspect, but you could see in the pictures they were badly woodworm damaged including to the artwork. The best one there had to be the flyover and seemed less affected.

I wonder how they sorted out that mix of cash boxes laying about for bandits and allwins as usual, auctions haven’t a clue

[cheeky]

I thought the same about the cash boxes. You are right about the prolific woodworm. Although complete, the bandits were rusted solid except for the Aristocrat Arcadian on old penny play which worked fine. Not bad for £150!!!

However, not clarifying commission charges is lazy auctioneering in my view . They’re clearly not bothered about getting the best price for their client. I’d have paid more that £150 for the aristocrat!!!

[sweetmeats]

The commission in this sale was 15% plus vat plus 20% on hammer price plus 5.94% saleroom charge total 43.94% !!! I have all prices if wanted but top prices hammer were flyover £1400 next wonders fore [golf] and wonders pools both £1100 each, not bad for having estimates of £50 to £80 each !!!

[geofflove]

Wow.

[cheeky]

The commission in this sale was 15% plus vat plus 20% on hammer price plus 5.94% saleroom charge total 43.94% !!! I have all prices if wanted but top prices hammer were flyover £1400 next wonders fore [golf] and wonders pools both £1100 each, not bad for having estimates of £50 to £80 each !!!

That’s extortionate! No wonder they didn’t phone me back. I guess they would have been too embarrassed to tell me.

[frayle]

As I understand it you only pay VAT on the commission. So 15% + 3% Saleroom commission (or whatever) = 18% on the hammer, then VAT on that figure.
ie if the hammer price is £1000, you would pay £180 commission, and then VAT on that, so £36, for a total payment of £1216.

If the overall commission were nearly 50% I don't think the auction house would last long!

[coppinpr]

That's correct, they can only charge VAT on the commission and charges, not the hammer price. Although there may have been a further charge made by the online link-up if you bought online that did not involve the auction house. In fact, the auction house commission was lower than many others. A total inc VAT of 28.74% on top of the hammer price
Do these auction houses really think people believe those estimated prices?

What did the hi-top go for? its quite an early one ( I love the idea of "3d discs" )

[treefrog]

Wow, I have to admit I had not noticed and although I have seen these types of additional costs written in most auction houses T’s & C’s before I have not bought an item where it has applied. Thankfully I didn’t bid

only.
- Buyers Premium of 15% + VAT will be added to every lot sold.
- 4.95% additional charge for bidding online.
- Lots marked with an * incur VAT at 20% of the Hammer price.

All lots were charged VAT, because they were a business who were VAT registered and I suspect did not have the process in place to handle margin VAT, where it could be applied on the profit, which is allowed on second hand goods sales. Car dealers do this to reduce to over cost. It makes you wonder how so many things in auction avoid this as many VAT registered dealers/businesses must be included in this