Selling
How Can I Sell My Watch At Auction?
To sell your goods at Fellows & Sons one of our specialist staff will need to see your item.There are a number of ways in which we are able to give you a valuation:
Online Valuation
You can upload images and details of your item using our online valuation form.
Post Them To Us
Please include contact details and notes about the item and we will endeavour to get back to you as soon as possible.
Bring Them To Us
You can bring your goods into Fellows & Sons. We always advise you to telephone prior to your visit to ensure a valuer will be available.
Selling Your Watches at Auction
Q How long will it take for you to give me a valuation after you have received my items?
A
After viewing or requesting a condition report, and deciding you would like to bid on an item, you first need to register with us. This will only take two minutes and can be done online.
If you decide to attend the auction in person you will be asked to provide your name, full address and proof of identification, either a driving licence or passport. We can also take bids over the telephone.
You will only need to register once and you can login and bid for any future auctions.
Q What's it worth then?
A
When you bring your watch into auction or when a valuer visits you to appraise your collection, there are varying types of valuation that can be done. People sometimes get confused as to why a value may vary between a figure for insurance purposes and what it would be worth when sold at auction. Below is a brief explanation of valuation terms and services all of which are offered at Fellows & Sons:
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- Auction Valuation
An auction valuation is an estimate, usually given as a range of prices, for example £180-250, that specialists such as Fellows & Sons believe an item will make at an auction. This price is based on a range of factors such as past sale results for similar items, market trends and trade/collectors’ interest. Valuations of this type are free.
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- Insurance Valuation
It is up to the owner of a property to have proof of the worth of their items in the event of an insurance claim being made so this is a popular valuation to have. The sum given will be representative of retail prices in relevant markets unless the item being valued is a period or antique piece where values are more reflective of ‘like for like’ replacements bought at auction, from a dealer, at a market or similar. The description should be fully detailed to enable comparable items to be purchased in the event of a claim. Fellows & Sons do charge for this service, for more information please do not hesitate to contact us.
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- Probate Valuation
A valuation for probate usually follows the death of the owner of valuables that need to be valued for tax purposes. The values given tend to be lower than for insurance valuations and not as much detail is required.
Fellows & Sons do charge for Insurance and Probate Valuations, for more information please do not hesitate to contact us.
Q What is a reserve?
A
Once we have discussed your requirements and advised you on the next appropriate sale, an auction estimate and reserve will be agreed. The reserve is the minimum sale price the seller is willing to accept. Goods will not be sold below the agreed reserve.
Q How long before an auction do I need to decide to include my item?
A
We generally close entries about 5 weeks before an auction to allow time for the item to be catalogued and photographed.
Q How will I know what lot numbers my items will be?
A
Approximately one week before the auction takes place, you will receive a pre-sales advice detailing your items and what lot numbers they have been allocated. You will also receive a complimentary catalogue – there maybe something you would like to buy!
Q How much will it cost me to sell my goods through a Fellows & Sons auction?
A
The following charges will apply per lot:
Lot fee- £3 (plus VAT)
Photography is charged at £5 (plus VAT)
Loss or liability for damage is charged at 1.5% (plus VAT) of the hammer price.
Sellers will pay a commission charge of 12.5% (plus VAT) on items which have a hammer price of £1,000 or more. Items sold under £1,000 will have a commission rate of 15% (plus VAT)
Q What if my items do not sell?
A
When an item does not sell, we advise you to contact Fellows & Sons to discuss re-offering your goods. To re-enter your goods in the next appropriate sale, we will recommend that the reserve is reduced.
Alternatively arrangements can be made for the item to be collected. When collecting we ask that you provide proof of identification i.e pre sales advice document, or your receipt. Fellows & Sons can also post your goods back to you free of charge.)
Q What will I be charged if my items do not sell?
A
Fellows & Sons will not charge you if your item does not sell. If you decide to relist your item you will only have to pay the initial listing fees once it sells along with the sellers’ commission charge.
Q What will I be charged if I decide to withdraw the items from auction?
A
If you decide to withdraw your item after it has been photographed and included in the catalogue we will charge you 5% (plus VAT) of the middle estimate price and also a postage & packing charge to return the items to you.
Q What happens after the auction?
A
To find out whether your item sold, you can call us on 0121 212 2131. We will also notify you by letter/email approximately one week after the auction.
Q How and when will I receive payment for my sold items?
A
Payment for any sold items is sent out by cheque, usually fifteen working days after the sale is completed.
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