Selling At Auction

Most weeks mornings we hold in-room auctions at our Tiong Bahru saleroom. Throughout the year we also hold additional In-room Auctions and Online Auctions across a range of specialist areas and themes. We make selling at auction simple. Our specialist team provide a highly personal service and keep you up-to-date at every stage of the selling process - from valuation to settlement.

WHAT WE SELL

We are interested in selling the following types of items:

  • New furniture
  • Antique Furniture
  • Asian Furniture
  • Outdoor Furniture
  • 20th Century Design
  • Paintings, Drawings & Prints
  • Asian Art
  • Ceramics & Glass
  • Jewellery & Silver
  • Watches & Clocks
  • Vintage Fashion & Handbags
  • Singaporean Interest
  • Carpets & Rugs
  • Vintage Furniture
  • Wine, Whisky & Spirits
  • Collectables
 

INITIAL VALUATION

Before accepting a lot for sale, we will examine your property to provide you with an idea of what we would expect it to sell for at auction. This is a free service that can be performed in our saleroom, at your home or using our easy-to-use Auction Estimate form.

We host three types of auctions: our regular, in-room Antiques & Interiors auctions: specialist in-room auctions and online only auctions.

We will advise you on the best type of auction for your property to ensure that we attract the most interest and achieve the best possible result for you.

REQUEST AN ESTIMATE.

Our specialists are on hand at our saleroom to meet you and discuss your property. Drop by for a no obligation chat. For details of valuation evenings take a look at our Auction Calendar.

We try to be flexible so valuations can also be arranged at our saleroom at other times. If you have a larger collections of items, we can do an at home valuation. Just call 6254 7616 or email hello@hotlotz.com for an appointment.

You can also contact us using our simple Request An Estimate form

CONSIGNING YOUR ITEMS

Receipts

When you consign property to us to auction you will receive a comprehensive ‘Receipt’. This will outline your personal details (contact details, FIN/NRIC/Passport number; details of the property you are consigning including brief description, any estimates or reserves, your preferred settlement method - including bank account details for transfer purposes). It will also outline the commission (and any other fees) we will deduct from your settlement. You will be asked to review the receipt, sign it, and along with our Terms & Conditions retain a copy for your records.

Your ‘Receipt’ is important because it is a record of your instruction to us to sell your property and acts as your contract with HotLotz. It must be retained by you.

Reserve/Minimum Bid

Where appropriate, a reserve price will be agreed for an item. This is the price below which an item will not be sold. The reserve is described as the ‘Minimum Bid’ in online catalogues that accept electronic absentee bidding. Reserves cannot be greater than a published low estimate. We do not apply reserves to items valued at less than $100.

We will advise you on how much to set as a reserve. High reserves often work against sellers as they put bidders off. Low reserves encourage bidders to participate, generating higher hammer prices.

Estimates

Where appropriate, a low and high estimate will be agreed for an item. This is the price range that we expect the item to sell for.

CHARGES

Seller’s Commission

HotLotz is committed to providing a transparent pricing structure.

Our standard auction commission is 19.5% on the hammer price of each lot. Each lot is subject to a minimum commission charge of $20.

This is an all-inclusive charge. Unlike many other auctioneers we do not add additional fees for online listing, catalogue photography or unsold items.

GST

GST is not payable.

Transportation

We need to have your property in our saleroom in time to catalogue, photograph and promote it properly – usually at least two weeks prior to the sale date. We are happy to help with transportation arrangements. Charges for transportation can be deducted from your settlement price, so please discuss transport arrangements when consigning your items so that you are fully aware of the costs.

AFTER THE AUCTION

Results of Sale

After an auction you will receive an ‘Auction Results’ notification by email that tells you the hammer price of each item sold. This information will also be available in the Auction Results section of the website for one week after the auction.

Unsold Lots

If any of your lots remain unsold after an auction, we will recommend what to do next. We may suggest that either your lot is re-offered at a future auction or is returned to you.

Settlement

21 working days after the auction you will receive a detailed ‘Settlement Statement’ for all lots sold and collected. This will outline the settlement price and deductions for commission and any other charges (such as transport fees incurred at consignment).

We prefer to make payments by bank transfer, or if that is not possible, by cheque.

Terms and conditions

For further information on selling at Hotlotz please refer to our Terms and Conditions.