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| SALE
SCHEDULE | more |
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Music Legends Online Sale
Date: 20 May 2008
Venue: The Internet
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View Catalogue
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| Frequently
Asked Questions |
Q. How to buy in a Cooper Owen auction?
Q. How do I sell in a Cooper Owen auction?
Q. What
is the Hammer Price?
The hammer price is the final sale price
or the winning bid.
Q. I've
found an item I like. How do I bid for
it?
Simply register with us. We will then
issue you with a client and pin number
which allows you to bid on or track
lots. Please note it may take up to
48 hours to issue a client and pin number
to you.
Q. What
is V.A.T. and will I have to pay it?
VAT is a consumption tax levied by the
UK tax authorities and currently stands
at 17.5%. Sellers will generally pay
VAT on the seller's commission and other
charges unless they are based outside
of the EC. Buyers will generally pay
VAT on the buyer's commission only (as
a VAT inclusive figure in accordance
with the auctioneers margin scheme)
except when the following symbols are
shown against the lot:
† - UK VAT at 17.5% due on both
sale price and commission
* - UK Import tax at 5% due on both
sale price and commission
If the lot you have bought is subsequently
exported from the UK (and EC) then VAT
is refundable provided proof of export
is available except in the case of a
lot when VAT on the bid price only is
refundable. When the following symbol
is shown the lot is held outside of
the EC and VAT is payable on the buyers
commission only (outside of the margin
scheme) and is non-refundable.
‡ - Lot held outside of the EC,
VAT on buyers commission not refundable
Contact auctions@cooperowen.com
if you have any queries.
Q. What
is the Margin Scheme?
This allows us to charge VAT as an inclusive
figure on the sellers and buyers commission
but not on the sale price. Lots imported
into the UK from outside of the EC and
lots sold on behalf of sellers required
to charge VAT on the sale price are
excluded from the margin scheme. Sellers
required to add VAT to the sale price
should notify us in writing and supply
us with a VAT registration number in
accordance with our terms and conditions.
Contact auctions@cooperowen.com if you
have any queries.
Q. Can
I raise my bid?
Absolutely, you can notify us you wish
to increase your up until two hours
before the start of the sale.
Q. What
if I lose my ID or password?
If you lose either your ID or password
please contact our Customer Service
Department at customerservice@cooperowen.com.
Q. What
happens if the buyer does not pay?
Once the hammer has fallen, the sale
is a legally binding contract. We shall
endeavor to collect payment, if payment
is not forthcoming you will be able
to rescind the sale and either re-offer
your item in another sale.
Q. Can
I cancel a sale once my item is sold?
No.
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