Timed Only Auctions

What Is A Timed Auction?

A timed online-only auction is automated and takes place solely online through out website www.adams.ie. The bidding for each lot is opened at a predetermined level set by the auctioneer, for a set period of time. During this period of open bidding you will be able to see the current highest bid on each lot. You may place a higher bid at the defined bidding increment you choose. Bidders are automatically informed by email if they are the winning bidder, or if they have been outbid by another competing bidder. At the end of the defined bidding period, if the highest bid offered meets the minimum price designated by the Auctioneer. (i.e the seller’s reserve price), the lot is sold. Bidding on all lots in a timed online auction will close at a specified time. If a bid is placed on a lot within a specific time before closing, the bidding may automatically be extended for a set period of time to faciliate the last minute bidding. The length of extended bidding is set by the Auctioneer prior to the opening of the auction.

Steps To Participate:

  • Log in or register for a My Adams account (A valid credit/debit card is required)

    Visit www.adams.ie, click on Sign in and then register.

  • Visit the timed online auction catalogue within the Forthcoming Auctions tab.

  • Find the lot number you are interested in.

  • Place your maximum bid, the current lead bid will be displayed along with the number of bidders already bidding on the lot.

    The minumum bid required will also be outlined.

How Your Maximum Bid Works:

By placing your maximum bid, the system will automatically adjust your bid to reflect the next winning bid increment which could be lower than your maximum bid. Your bid will automatically increase should someone else bid, only up to your maximum bid.

Example: Bidder A leaves a maximum bid of €100, bidder B leaves a maximum bid of €200 on the same lot. Bidder A is now knocked out of the lead and Bidder B holds the current winning bid that auto adjusts to €110 (NB not their maximum bid). The system auto adjusts the bid to the next winning increment. Bidder B’s bid will only be further executed if another user bids above their current bid of €110 up to their maximum bid of €200, after which they will be knocked out and an email will be issued advising them to increase their bid.

  • If you are outbid you will be notified immediately by email.

  • To increase your bid, simply log back in and up your bid.

  • When the timed auction finishes, winning bidders will be notified by email.

  • Buyers Premium of 20% plus VAT (24.6% in total) will be added to your winning bid amount.

  • An invoice will issue and you can securely pay online through our website or in person or by bank transfer.

    Your invoice will detail all the payment and collection particulars.

IMPORTANT INFORMATION FOR PURCHASERS

1. Estimates and Reserves

Estimates are shown below each lot in this sale. All amounts shown are in Euro. The figures shown are provided merely as a guide to prospective purchasers. They are approximate prices which are expected, are not definitive and are subject to revision. Reserves, if any, will not be any higher than the lower estimate.

2. Artists Resale Rights (Droit de Suite) is NOT payable by purchasers

3. Paddle Bidding (In Person)

All intending purchasers must register for a paddle number before the auction. Please allow time for registration. We recommend reading "Buying at Adam's" for first time buyers from our web site www.adams.ie for more information. Please be aware that photographic identification by way of passport or driving licence will be required for new registrants, together with a secure valid credit card. This is for security purposes only. Potential purchasers are recommended to register on viewing days.

3. Buyer's Premium, Payment & Delivery

Buyers Premium:

The buyer shall pay the Auctioneer a commission at the rate of 20% on the Hammer Price plus VAT @ 23% (applied only to the commission) on all individual lots.

For example on a hammer price of €1,000, the Buyer's Premium amounts to €200 and the VAT on the Buyer's Premium amounts to €46.00, giving a total amount due of €1,246

Payment:

All purchases must be paid for within two calendar days of the sale. Our payment terms are cash, banker's draft or cheque drawn on an Irish bank. Cheques will take a minimum of five working days to clear the bank, unless they have been vouched to our satisfaction prior to the sale, or you have a previous cheque payment history with Adam's. We also accept the following Credit Cards: Visa & Mastercard, subject to a credit card surcharge of 1.5% of the total invoice value, & American Express, subject to a surcharge of 3.65%. Debit cards, including Laser card payments, are not subject to a surcharge, however there are daily limits on Laser Card payments. Bank Transfer details are available on request. Please ensure that all bank charges are paid in addition to the invoice total, in order to avoid delays in release of the items. Goods will only be released upon clearance through the bank of all monies due.

Delivery takes place the day after the sale from 10.00am to 5.00pm. Uncollected lots may be subject to storage and handling charges unless specific arrangements have been made with the department. It is important to make contact with us in this regard to avoid any unnecessary charges. Adam's outsource all carriage & shipping requests to recommended third parties whom we deal with on a regular basis. This list is available upon request.

4. VAT Regulations

All lots are sold within the Auctioneer's VAT Margin Scheme unless advised to the contrary. Revenue Regulations require that the Buyer's Premium must be invoiced at a rate which is inclusive of VAT. This is not recoverable by any VAT registered buyer.

The VAT on buyer's premium may be zero rated for lots exported outside of the EU. This facility is available to non-residents and has strict guidelines in relation to availing of this scheme. Please contact a member of the accounts department to enquire further.

5. Absentee and Telephone Bids

We are happy to execute absentee or written bids for bidders who are unable to attend or can arrange for bidding to be conducted by telephone. Bid forms are available from our web site or you can leave absentee bids online by registering on www.adams.ie. Cancellation of bids must be confirmed 24 hours before the auction.

Bidding by telephone may be booked on lots with a minimum estimate of €500. Early booking is advisable as availability of lines cannot be guaranteed.

6. Condition Reports

The property is sold "as is" therefore imperfections/defects are not stated in the catalogue description. It is up to the intending purchaser to satisfy themselves as to the condition of a lot(s) before bidding. Condition reports may be requested in advance of sale subject to our terms of business. The report is an expression of opinion only and must not be treated as a statement of fact.

7. Conditions of Sale

All lots are being sold under the Conditions of Sale as printed in the sale catalogue and on display in the salerooms or via our web site www.adams.ie