Selling At Auction

SELLING 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 also 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. If you have larger quantities or tight timelines, ask us about 'Private Collection' and 'Home Contents' sales.

We 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.

We pride ourselves on being approachable, pragmatic and un-stuffy. If you are considering selling items at auction, please contact us. 

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.  

VALUATIONS

If you have an item that you would like to be appraised for sale in auction we can arrange for a specialist to give you a realistic estimate. 

Items may be accepted with a reserve price. This is the minimum price that the seller is willing to accept for an item.  A seller is obligated to sell the item if the bidding meets or exceeds the reserve price. Items may also be accepted for sale with ‘No Reserve’. These items are consigned in the knowledge that the auctioneer will use best endeavours to sell the item for the highest possible price. 

We will also advise on the best type of auction for each item to ensure that it attracts maximum interest and achieves the best possible results.

Our valuation service is complimentary and you can get in touch with us in the following ways.

Online

Submit images and a description of your items using our Request An Estimate form

By Email 

Submit images and a description of your items to hello@hotlotz.com 

By Appointment

Confidential visits to the Hotlotz saleroom can be made by appointment. Confidential visits to private homes can be arranged throughout Singapore for private collections, home contents or larger, fragile or high value items that are difficult to transport. 

For professional written valuations see our 'Services' section.

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' PRICES

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.

AUCTION FEES & SETTLEMENTS

Seller's Commission 

All sales are subject to a Seller’s Commission fee of 19.5%. 

Seller’s Commission is the amount that is deducted from the ‘hammer price’ and retained by HotLotz.  In timed auctions the ‘hammer price’ is the highest price that has been bid for the item at the end of the auction.

Seller’s Commission is only charged if we sell your item. 

Withdrawal Fee

We charge a $100 withdrawal fee if you remove an item from a running timed auction.

Sale Results

After an auction clients receive an auction results notification by email that informs them of the status of their items. This includes the hammer price of every sold item.

Settlement

We pay settlements by bank transfer into our clients’s nominated bank account twenty-one days after an item is sold at auction, providing we have received cleared funds from the purchaser and the client has has provided us with their bank account details. 

Clients are sent a settlement statement by email detailing all items sold any deductions that have been made.

Receipts

Clients consigning items for valuation or sale will receive a receipt. This acts as a contract between the client and HotLotz and should be retained.

Inbound Transportation

We can organise inbound packing and shipping on request. 

Terms & Conditions

For further information on selling items with Hotlotz please refer to our Terms & Conditions.