Everything you need to know about an auction at Boatauction.com
Discover everything you need to know about bidding at one of our auctions. From important terms to the awarding process – we make it easy for you to participate and place a bid with confidence.
Important Terms
- Starting bid: The initial amount with which the auction for a lot begins.
- Current bid: The highest bid placed at that moment.
- Minimum next bid: The lowest amount you must bid to continue bidding.
- VAT: The tax that must be paid on the bid amount.
- Buyer's premium: The costs associated with the auction, expressed as a percentage.
- VAT on buyer's premium: The tax that must be paid on the buyer's premium.
- Number of bids: The total number of bids made up to that moment.
What are the auction fees?
The auction fees are added on top of the bid amount. You can find these costs in the overview when you click on the "View bid" button. The amount of the auction fees depends on the starting price of the auction:
- Up to € 25,000 → 18% premium
- € 25,000 - € 100,000 → 12% premium
- From € 100,000 → 8% premium
Create an account and log in
To place a bid, you must first create an account. Without registration, it is not possible to participate in bidding. You can register here . After registration, you can log in via the button at the top right of the website and start bidding on your favorite boat.
How to place a bid?
- Click on ‘View bid’.
- Enter the amount you want to bid. The minimum bid is clearly indicated, but you can of course bid higher.
- Make sure the amount is in whole euros.
- Click on ‘View bid’ to see an overview of the total costs.
- Only when you press ‘Place bid’ is your bid placed. Note: this bid is binding.
Types of bids
- Normal bid: You determine the amount and place it once. Make sure it is in whole euros.
- Automatic bid: You set a maximum bid. The system automatically bids with the smallest bid increment until your maximum is reached.
Bidding in the last 5 minutes
If a bid is placed in the last 5 minutes of the auction, the end time is automatically extended by 5 minutes. This gives other bidders the chance to respond as well.
Awarding process
After the auction closes, Boatauction.com contacts the seller to present the bid. The seller has up to three days to accept the bid. Once we receive a response, we inform the highest bidder. Upon acceptance of the bid, you will receive a confirmation email.
Payment after awarding
If your bid is accepted, you will receive an invoice within 24 hours for the amount of the lot, plus premium and VAT on the premium. Payment must be made within four days to the third-party account. For auctions on behalf of municipalities, a payment term of two days applies. Late payment may incur additional costs.
Transfer document
After payment, a transfer document is drawn up. Both the buyer and seller must sign this document and send it to Boatauction.com. The document is signed again at the actual transfer.
Collecting the purchased lot
Buyers must collect their purchased lot within 14 days after awarding. If this is not possible, an alternative date can be agreed upon in consultation with the seller. These agreements must be confirmed in writing. All costs for collection are the responsibility of the buyer.
When are you the owner?
You are the owner of the lot once you have paid the invoice and signed the transfer document. From that moment, you are responsible for the new costs. It is advisable to take out insurance for the lot. If the transfer takes place later, you automatically become the owner 14 days after awarding.
Questions?
Do you have any questions or need more information? Do not hesitate to contact us! You can call us at +3135-544 96 75 or send an email to [email protected]. We are happy to help you!
Kind regards,
Team Boatauction.com
