Although we strongly advise prospective buyers to attend the auction, we realize that not everyone can always make our auction date. However, all is not lost as it is possible to bid on properties that you may be interested in without having to be in the room on the day. Please note that there are three options available to you, which I will explain below:
Proxy or Telephone Bids
We offer the facility to bid by either a proxy or telephone bid. I will firstly explain both methods:
A Proxy Bid means that you would have given the Auctioneer consent to bid on your behalf up to an agreed maximum, without having to be in the room.
A Telephone Bid provides you with the facility to participate in the auction remotely (on the end of a phone), allowing you make your own bid, without having to be physically in the auction room on the day.
How Can I Make a Proxy or Telephone Bid?
In order to make a Proxy or Telephone Bid you will need to complete our registration documentation, which consists of 2 documents which can be obtained by clicking on the buying tab on the Pearson’s Auctions Website. This will then bring up a separate page, under the header “buying without being there (proxy/telephone bidding)” click on the “click here”. The website then brings up the following documentation:
- Terms and Conditions
- Proxy & Telephone Bidding Facility
It is also a requirement to provide the Auction Department, (three days prior to the auction taking place) with two cheques and identification for the purpose of money laundering. This is to enable us to take the payments of the 10% deposit and Buyers fee of £510 including VAT, for the exchange of contracts on auction day.
A list of money laundering Identification requirements can be found on our Pearson’s Auctions website by clicking on the header “buying” and then under the header “Who buys at an Auction?” at the end of the paragraph click on “Click here” this will take you into a separate page.
You will be then taken to the “Important Notice to Prospective Buyer” page. Please scroll down to section eight, “Proof of Identification” this will explain what form of identification is required for the purpose of money laundering.
Finally, there is one other form of bidding that would be allowed, please see below: