AUCTIONS
Our Live Auctions offer a premier opportunity to sell a heritage number plate in an exclusive, face-to-face auction event. We design an extensive marketing campaign to promote both the event and the heritage plates. Potential buyers can participate by bidding in person or remotely through online bidding.
Information regarding the Live Auction will be accessible through our website. This exclusive event requires tickets for entry, however admission is complimentary.
No, each bidder’s name is concealed during the auction.
Certainly, the Live Auction can be streamed via our website.
At the conclusion of the auction, the winning bidder is required to pay a 10% deposit of the final sale price, plus Buyer’s Premium, within three (3) hours of the auction’s conclusion. The remaining balance must be paid into the Heritage Only Trust Account within two (2) business days.
Heritage Only will handle the transfer of ownership and settlement on behalf of both the Buyer and Seller. This ensures a safe and reliable transaction process, without the need for the Buyer and Seller to meet.
All auctions are in Australian Dollars (AUD).
HOW TO BID
No, online bidding for Lot 1 will start at 8:00PM on the auction night. Bidding for subsequent Lots will start immediately after the previous Lot concludes.
You can place bids from a mobile device, but we recommend using a computer or laptop for a smoother experience.
No, our online bidding platform requires you to upload your ID only once. For subsequent Lots, the platform will automatically link your ID to each registration.
To bid at the event, simply reserve your ticket and register in person at 7:00PM. There’s no need to register both online and in person if you plan to bid in-person.
Credit card facilities will be available at the event to process your deposit if you’re the winning bidder. Please note that credit card payments incur a 1.75% surcharge.
BUYER
All bidders must register a free account which helps create a reliable and secure auction environment for all participants.
By securely collecting the identification of all bidders, you can rest assured that you are not competing against unethical or fraudulent participants. Heritage Only will reach out to you if any additional information is required to approve your participation in the auction.
A Buyer’s Premium is an additional fee paid directly to Heritage Only, over and above the final sale price. If you are the highest bidder, Heritage Only will send you an invoice for the Buyer’s Premium at the conclusion of the auction. Our Buyer’s Premium is 4.9% (incl. GST).
At the conclusion of the auction, the winning bidder is required to pay a 10% deposit of the final sale price, plus Buyer’s Premium, within three (3) hours of the auction’s conclusion. The remaining balance must be paid into the Heritage Only Trust Account within two (2) business days.
Heritage Only will handle the transfer of ownership and settlement on behalf of both the Buyer and Seller. This ensures a safe and reliable transaction process, without the need for the Buyer and Seller to meet.
If an auction does not meet the reserve, bidders will have one hour after the auction concludes to submit their final offer before the item is withdrawn from sale.
Final offers must be submitted in writing to info@heritageonly.com.au, placing you at the forefront of any potential negotiations with the seller.
SELLER
To secure a listing in our Live Auction, our service requires a fixed investment of $2,990. This investment will contribute towards all marketing and event expenses, ensuring your heritage plate receives maximum exposure. To guarantee a seamless and well-promoted auction experience, your investment must be paid upfront and is non-refundable.
A Vendor’s Premium is a fee paid directly to Heritage Only from the final sale price. This fee covers the service of completing settlement and transferring ownership between the Buyer and the Seller. Heritage Only will deduct the Vendor’s Premium automatically from your final sale price. Our Vendor’s Premium is 2% (incl. GST).
All online bidders are required to undergo a thorough security verification process. If our team determines that a registration does not meet our standards, bidding privileges will not be granted for the auction. These measures effectively mitigate the risk of unethical or fraudulent behavior among online bidders.
If the auction meets the reserve and the buyer fails to complete the transaction, in accordance with our Terms and Conditions, Heritage Only reserves the right to:
a. Cancel the Purchaser’s Account;
b. Initiate legal action to recover all owed funds, including Buyer’s Premium, administrative fees, expenses, and lost income;
c. Sell the Lot to the next highest Bidder or through another method without prior notice to the Purchaser, and seek to recover any shortfall from the Purchaser after deducting expenses;
d. Seek compensation from the Purchaser for any additional losses, costs, or expenses related to the resale of the Lot, including any difference between the original Purchase Price and the resale price.
The reserve is determined by the seller.