Buying at Auction

 

BUYING WITH HOTLOTZ

HotLotz is an award winning digital auctioneer based in Singapore, offering items for sale in timed online auctions to a domestic and global clientele. 

Our popular general timed 'Home & Decor' auctions allow buyers to bid online for items of quality  furniture and home decor. All lots are checked, catalogued and curated by us, and available to view in the HotLotz saleroom. 

We hold timed auctions across a range of specialist areas including 'Asian Collectables & Works of Art', 'Fine Art', 'Jewellery & Watches' and 'Designer & Luxury' throughout the year. We also hold 'Private Collection' and 'Home Contents' sales.

We also hold regular timed auctions in partnership with the-saleroom.com, one of the world's leading auction platforms.  These sales provide Singaporean sellers with access to a global network of dealers and collectors without the complications involved in sending items to salerooms overseas.

REGISTRATION

Free registration is mandatory and quick and easy to complete using the 'Register' link at hotlotz.com or on the HotLotz app.

After completing the short 'Register' form you will be sent an email containing a link to activate your account.

You then need to sign in to hotlotz.com using your nominated username and password and click on 'My Account'. 

You then need to save the following information, in this order:

1/ Save your contact details in the 'My Profile' section, including your NRIC or FIN number if you are in Singapore or your passport number if are overseas.

2/ Save your credit card details in the 'My Financial Details' section.

Only registered bidders who have completed their online profile and provided credit card details can place bids. Your credit card details guarantee your bidding. They also act as a safeguard, preventing prices being artificially inflated by spurious bidders. Information is stored by our payment processing platform (stripe.com) using industry-leading encryption.  

CATALOGUES

Sale catalogues for all timed auctions are published at hotlotz.com and on the HotLotz app. They include pricing, descriptions, dimensions, provenance and photographs of each item. 

We can provide written condition reports and additional images and video on request. 

Auctions held on the-saleroom.com platform will be clearly indicated. Bids in auctions held on the-saleroom.com can only be placed via this platform. Registration with the-saleroom.com is mandatory.

Viewing in Person

** The saleroom is currenly closed due to the 'circuit breaker' restrictions that are in place in Singapore **

We encourage customers to view items in person prior to bidding and we warmly welcome visitors to the saleroom.  

The HotLotz saleroom is open six days a week. Our opening hours are:

Monday - Closed

Tuesday - 10am to 6pm

Wednesday - 10am to 6pm

Thursday - 10am to 8pm

Friday - 10am to 6pm

Saturday - 10am to 4pm

Sunday - Closed

MINIMUM BIDS & ESTIMATES

We publish a 'Minimum Bid' amount for every item that we offer for sale in auction.  This is the minimum price that we can accept for the item. It is also a selling price if no other bidding occurs. 

The estimate is the range in which we expect the item to sell.

'BUY NOW' PRICING

For some items we also offer a ‘Buy Now’ price.  If this fixed price is met the item will be withdrawn from auction.  Only items that have a ‘Buy Now’ price can be purchased in this way.

‘Buy Now’ prices are inclusive of Buyer's Premium fees; the 'Buy Now' price is the exact price that the winning client is charged.

HOW TO BID

Timed (or online) auctions are conducted on our digital platform. They take place without a human auctioneer 'calling' the auction.  Every timed auction has a published end time and lots close in sequence in one minute intervals.

Lots in timed auctions all clearly show the minimum acceptable bid or the current bid they have recieved. You then just need to decide what your maximum bid is. Your bid can be the minimum amount prompted by the platform, or the highest amount that you are prepared to pay, but it must be an amount in line with our published bidding increments. 

If higher bids are recieved from competing bidders, our platform will automatically bid on your behalf, increasing your bid in line with the published bidding increments. It will only bid as much as is necessary to ensure that you stay in the lead and will never go above your stated maximum bid. 

You'll be notified by email if you are outbid by a competing bidder so you have the opportunity to increase your bid.

If you're outbid in the last two minutes of a lot’s ‘end time’, this time will automatically extend by as extra two minutes to allow you to increase your maximum bid. This will continue until the bidding stops, just as it would in a live auction.

This feature is only available if you are signed in and following the auction on hotlotz.com. Bidding via the app closes at the auction's published end time so if you wish to make last second bids you must do this at hotlotz.com.

Winning bidders will recieve an email when the auction has closed with a link to their purchase invoice.

Bidding Increments

Bidding increases in the following increments in all auctions:

  • Between $0 - $499 bidding rises in increments of S20
  • Between $500 - $999 bidding rises in increments of $50
  • Between $1,000 - $1,999 bidding rises in increments of $100
  • Above $2,000 bidding rises in increments of $200

Auctions held on the-saleroom.com platform may have different bidding increments, lots may have a different end time interval (i.e not intervals of one minute) and outbid extention times may differ (i.e not extension times of two minutes). Please check the details for each specific the-saleroom.com prior to bidding. 

BUYER'S PREMIUM & PAYMENT METHODS

Buyer’s Premium

All purchases are subject to a 'Buyer’s Premium' fee of 19.5%. This rises to 25% for HotLotz auctions conducted on the-saleroom.com platform.

The 'Buyer's Premium' is an additional fee that is charged on the ‘hammer price’ of each lot.  In timed auctions the ‘hammer price’ is the highest price that has been bid for the item at the end of the auction.

Sales Taxes & Credit Card Fees 

We do not currently charge any additional sales taxes or credit card fees.

Payment Methods

HotLotz accepts payments from American Express, Mastercard and Visa credit cards. 

To make a payment log into hotlotz.com or the app and navigate to the the 'My History" section in 'My Account'. You will locate your invoices there which can be quickly settled using your saved credit card. You will also find a copy of your purchase receipts stored in this section.

Buyers may also pay via bank transfer. Please communicate any transfer in advance by emailing hello@hotlotz.com, confirming the invoice number that you are settling and the amount you are transfering.

Our bank account details are:

Bank Name: DBS Bank Ltd

Bank Address: 12 Marina Boulevard, DBS Asia Central, MBFC Tower 3, Singapore, 018982

Beneficiary Name: Hotlotz Pte Ltd

Account Number: 0039310692

Swift Code: DBSSSGSG

Branch Code: 003

Bank Code: 7171

Please note Singapore does not use IBAN numbers. For telegraphic transfer payments, all bank and related administrative charges (both at the buyer and seller ends) are to be borne by the buyer. 

We do not accept payments by cheque or cash.

All invoices must be settled before items can be self collected or shipped.

SELF COLLECTION & SHIPPING

Self Collection & Storage

HotLotz has limited storage space in the saleroom so we ask that furniture and rugs are collected or delivered within four days of the auction and that all other smaller lots are collected or delivered within seven days of the auction. 

We can arrange storage on request.

Shipping

For domestic inbound and outbound packing and shipping HotLotz works with a number of local partners. These include:

Alpha Zenith for cost effective shipping of larger items that cannot be moved by a single person. We have negotiated special 'fixed price, island wide' rates as well as discounts for the transportation of multiple items.

Gogovan for cost effective shipping of small items that can be moved by a single person. 

For international outbound packing and shipping, HotLotz collaborates with multiple specialist shippers. We will recommend a solution that is most suitable for the type of item you have purchased. All our partners are able to expertly pack valuable items and ship them internationally with insurance and tracking options.

To discuss any aspect of shipping please contact the saleroom.

TERMS & CONDITIONS

For further information on buying items from Hotlotz please refer to our Terms & Conditions.