Rainesie
Member
Registered: 24th Mar 02
Location: Luton
User status: Offline
|
Say i wanted to buy a car from an auction, i undertsand that there is a 3% commission (from the one i'm going to anyway) that has to be added onto the value of the bid and then things like deposit if i'm not taking it that day etc.
Do i have to include VAT onto a bid?? So if i'm looking at a car i have to consider.....
1) Bid value
2) 3% Commission
3) VAT
|
-Aliba-
Member
Registered: 15th Apr 02
Location: Ayrshire
User status: Offline
|
Depends on the auction house mate.
Some use the format of % commission, and some use a stated fee e.g. 150 bucks.
Also, to my knowledge most if not all already have VAT included on the auction price, but yet again..... better check to make sure first.
So your "winning bid" of say 1000 DOESN'T inlcude the additional fee (commission & admin exp..)
|
Rainesie
Member
Registered: 24th Mar 02
Location: Luton
User status: Offline
|
So just ask them. The webpage i was looking at had a catagory with the car details which was +VAT and it had no next to it.
I assume it means add VAT.
|
-Aliba-
Member
Registered: 15th Apr 02
Location: Ayrshire
User status: Offline
|
Depends where the "+VAT" was stated and how it was stated.
Have a browse throught their FAQ or help pages. Should tell you there.
Or gimme a link to a page with it and i'll help ya.
|
Richie
Member
Registered: 3rd Dec 02
Location: Newport, Wales
User status: Offline
|
If this is Universal Auctions/Salvage i give up trying to find out the total price 
We go to the Westbury one quite often.
|
Rainesie
Member
Registered: 24th Mar 02
Location: Luton
User status: Offline
|
I understand about the registering before buying and about the online bidding, i'm not going to do it online, i'm going in person just need to work out my budget thats why i've got these questions about the VAT.
http://www.universal-salvage.com/salvage_sandy.asp
There is nothing inparticular off that page that i'm looking at.
|
-Aliba-
Member
Registered: 15th Apr 02
Location: Ayrshire
User status: Offline
|
TBH i havent a clue with that site. Very unclear as to what it means. No help anywhere regarding vat on the site!
|
Rainesie
Member
Registered: 24th Mar 02
Location: Luton
User status: Offline
|
" A commission fee of 3% plus VAT must be paid on all purchases of vehicle salvage, on part-exchange vehicles 5% plus VAT of the sale price (minimum £10, maximum £75) at the time of initial payment, irrespective of whether a deposit is being left or the full payment is being made. This commission is strictly non-refundable. Any waiver of this commission charge is at the discretion of Universal. "
It is subject to VAT. 3% and VAT on winning bid so £500 is really £605.12 for example.
|
