John Cross Ltd Auction

[Otter Spotter]

Take a look at the spoils

Lambert Smith Hampton | Jaycross Ltd

Bid Live at Lambert Smith Hampton's Jaycross Ltd auction

www.bidspotter.co.uk

bargains for some

 

[Wack]

I thought these were the boom years for dealers, how can they have so many motorhomes with no MOT

BUYERS PREMIUM:
• The purchaser will pay a buyer’s premium of 16% plus VAT, which will be charged on all lots (Motorhomes will have a 5% Buyer’s Premium plus VAT).
• The premium is not negotiable and will be paid by all buyers

 

[pappajohn]

I thought these were the boom years for dealers, how can they have so many motorhomes with no MOT

Knowing Peter each one would have a new MOT at point of sale.

 

[chaser]

I thought these were the boom years for dealers, how can they have so many motorhomes with no MOT

BUYERS PREMIUM:
• The purchaser will pay a buyer’s premium of 16% plus VAT, which will be charged on all lots (Motorhomes will have a 5% Buyer’s Premium plus VAT).
• The premium is not negotiable and will be paid by all buyers

I suppose when they sold them they would put a new 12 month mot on them

 

[sciac2001]

Thanks for the link.
Sad to see though.

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[westhamman]

I find it sad, a business built up over years, sold off at auction. 36% on top of auction price makes things a lot dearer than first appears.

 

[Wack]

I find it sad, a business built up over years, sold off at auction. 36% on top of auction price makes things a lot dearer than first appears.

Where are you getting 36% from , 5% + vat on the motorhomes, is that bidspotters commission

BUYERS PREMIUM:
• The purchaser will pay a buyer’s premium of 16% plus VAT, which will be charged on all lots (Motorhomes will have a 5% Buyer’s Premium plus VAT).
• The premium is not negotiable and will be paid by all buyers

 

[Chris]

Looking at the accounts there were a lot of liabilities coming down the line .

 

[westhamman]

I'm talking about products from shop, 16% commission + 20 vat.

 

[Wack]

I'm talking about products from shop, 16% commission + 20 vat.

20% of 16% is 3.2% so 19.2% to add to your bid

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[Blossom]

So sad to see this

 

[tonyidle]

20% of 16% is 3.2% so 19.2% to add to your bid

I think it's bid + 16% + 20% of (bid + 16%).

 

[busby]

I find it sad, a business built up over years, sold off at auction. 36% on top of auction price makes things a lot dearer than first appears.

Auctioneering seems a good business..win win win.BUSBY.

 

[gus-lopez]

Where are you getting 36% from , 5% + vat on the motorhomes, is that bidspotters commission

BUYERS PREMIUM:
• The purchaser will pay a buyer’s premium of 16% plus VAT, which will be charged on all lots (Motorhomes will have a 5% Buyer’s Premium plus VAT).
• The premium is not negotiable and will be paid by all buyers

it is 5% commission for vans then 20% vat

20% of 16% is 3.2% so 19.2% to add to your bid

No it is 16% commision on hammer price then 20% added to that .
so a £100 winning bid will be £100+£16 = £116 x 20% vat =£139,20

 

[DerryW]

it is 5% commission for vans then 20% vat

No it is 16% commision on hammer price then 20% added to that .
so a £100 winning bid will be £100+£16 = £116 x 20% vat =£139,20

Correct Gus. I've seen so many people get carried away at auctions. Not realising the buyers premium + vat will be added to what they think they have spent.

I stood beside a chap at a farm sale bid £80 for an old rusty farm gate, them moaning like hell when he went to the window and ended up paying £80 + 15% buyers premium £12 + vat on £92 = £110.40 with a new gate costing £115 complete with hinges. Not such a bargain after all.

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[Basildog]

Sad

it is 5% commission for vans then 20% vat

No it is 16% commision on hammer price then 20% added to that .
so a £100 winning bid will be £100+£16 = £116 x 20% vat =£139,20

that’s not how it works
Theres 20 percent vat on hammer price and 16 percent plus vat commission .
The vehicles are different but all other items .

 

[Basildog]

Correct Gus. I've seen so many people get carried away at auctions. Not realising the buyers premium + vat will be added to what they think they have spent.

I stood beside a chap at a farm sale bid £80 for an old rusty farm gate, them moaning like hell when he went to the window and ended up paying £80 + 15% buyers premium £12 + vat on £92 = £110.40 with a new gate costing £115 complete with hinges. Not such a bargain after all.

I have seen it so many times at auction it’s often unbelievable

 

[westhamman]

I think there is a difference between new and second hand goods at auction, at most auctions its auction house commission you then pay vat on that commision as a service charge at Stacey's auctions that makes 25% to add on. Ok as long as you realise it.

 

[Jamesh]

How did the business go bust?
Surely in boom times MH dealers are on a roll?

Miss management? I'll health??

Cheers James

 

[GAVLAD]

I've just looked at the bbq's and the pallet trucks but by the time I've read shipping - in that they don't currently organise, so collect or arrange own shipping and then the fee's - I'm not going to bother,

Wife will have to continue carrying her own beach clobber down to the beach and we'll have to stick to sandwiches instead of a BBQ!

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[Wack]

I think it's bid + 16% + 20% of (bid + 16%).

Is it , blimey , that's not bad for banging a hammer

 

[gus-lopez]

How did the business go bust?
Surely in boom times MH dealers are on a roll?

Miss management? I'll health??

Cheers James

It didn't Peter unfortunately died. Inheritor did not want to run the business so closed it

 

[EuroTrotters]

it is 5% commission for vans then 20% vat

No it is 16% commision on hammer price then 20% added to that .
so a £100 winning bid will be £100+£16 = £116 x 20% vat =£139,20

saved me explaining

 

[Wack]

Every auction I've ever been to it's your bid , say £100 + their comission say £20% + vat = £124 total
The only time there's VAT on the item is when it's a commercial vehicle and the seller is vat registered

Just had a look, it's not just the vehicles everything is + vat because it's a business

 

[gus-lopez]

Sad

that’s not how it works
Theres 20 percent vat on hammer price and 16 percent plus vat commission .
The vehicles are different but all other items .

either way it is still 40% more.

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[gus-lopez]

Every auction I've ever been to it's your bid , say £100 + their comission say £20% + vat = £124 total
The only time there's VAT on the item is when it's a commercial vehicle and the seller is vat registered

It is a business .Vat is charged on everything.

Sad

that’s not how it works
Theres 20 percent vat on hammer price and 16 percent plus vat commission .
The vehicles are different but all other items .

That is even more of a scam doing it that way.
I wonder whether it is even legal charging commission on the hammer price + vat to increase the commission price & more vat ?
Smells to me?
doing it that way you would now be paying £143,20 by the time they have striped up the seller they'll be making more than they are.

 

[icantremember]

Would we still get Funster discount?

 

[Viennese]

It is extremely sad, it was clearly a great business. Surprised it was not sold as a going concern.

 

[Jamesh]

Sorry to hear it. So sad.

Cheers James

 

[eddie]

How did the business go bust?
Surely in boom times MH dealers are on a roll?

Miss management? I'll health??

Cheers James

It didn’t go bust, the owner died, his wife shut it

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