What documentation do you need for a first-time buyer?
First-time buyers must provide Stephan Welz & Co. with a copy of their identity document or passport and a photocopy of the front and back of a valid credit card.
How does an auction work?
People interested in buying at an auction attend and upon registration complete a buyer’s card. After completing this form, you will receive a bidding number, which will identify you every time you bid on a lot. If your bid is successful, you will be required to pay for your item directly after the auction.
What is a reserve?
Stephan Welz & Co. recommends a reserve price on every item to be auctioned. Our specialists will provide any seller with a low estimate of their item. The seller is then able to put their own reserve on the item, as long as the reserve amount is not higher or 20% lower than the estimate given. This service is free of charge.
Can anyone attend an auction?
Yes, everyone is welcome at our auctions. We have a solid client base who attend every auction. All you need to do is register on the day to be able to attend our auction.
Can I use my debit or credit card to buy items at an auction?
Yes, we accept all credit cards and have a credit card machine at all auctions, to increase the ease and safety at our auctions.
Can I inspect the items on auction before the auction starts?
Yes, we have viewings for all our items at all of our auctions. These viewings are held a week before every auction and are open to the public. See our viewing schedules online, click HERE.
Can I still bid at an auction even if I can’t attend the event?
Yes, absentee bids are possible at any Stephan Welz & Co. auction. In order to choose this option, you must complete an Absentee Bidding Form, which instructs a representative of Stephan Welz & Co. to bid on a specific lot and a limit on the price biddable in your stead. We also offer our clients the opportunity to bid at auctions telephonically. Click here to download our Absentee Bidding Form.
How do I know the classic car is in good running order?
Our specialist will first drive the car and carry out a full inspection. The car must carry paperwork of its previous history. The car is taken to a garage to be checked for road worthiness and for any leaks or problems.
How do I know the classic car is authentic?
We pride ourselves in consigning only the finest items for our auctions. Our specialists do meticulous research on every item on auction, making sure each item is authentic and to educate our bidders on the intriguing history behind each lot.
How do I know the classic car is not stolen?
The car must carry paperwork of its previous history. Our specialist will carry various security checks to verify the validity of the current ownership.
Is VAT payable on auction items?
As with international standards, VAT is payable on the commission only.
What assurances do I have that my item will be sold at an auction?
Like many things in life, the success of an auction depends on the demand in the market for the items on sale. For almost 50 years we have had nearly 700 successful auctions, giving you the best opportunity to sell your valuables at an auction.
How do I sell my items at an auction?
In order for you to sell your valuables at one of our auctions you have to have items valued by one of our specialists. After valuation, your valuables will be consigned and stored by Stephan Welz & Co. for the upcoming auction.
How much commission do you charge per item sold?
As with all auction houses, we do charge commission on every item sold at our auctions. For items sold for over R10,000, we charge 13% commission plus VAT. For items selling under R10,000, we charge 16% plus VAT. For any car sold at our auctions we charge a commission of 10% plus VAT.
What benefits are there from buying online?
One of the biggest benefits of purchasing online is the convenience. You are able to bid for items on auction from the comfort of your own home. With the safety measures we have taken, it is also a safe and user-friendly portal, making sure your private information stays private.
Using our online portal ensures you are purchasing verified items, unlike similar websites. Our specialists take great care in researching and verifying each item on auction and available online.
How do I register to buy online?
As a leading auction house in South Africa, we offer our clients the ability to sell online. To register for this service, click HERE and follow the prompts.
How do I purchase/bid online?
In order for you to start bidding you must be signed in. Once successfully logged in, you will be able to bid on any item available online. You will receive an on-screen notification to inform you whether or not your bid has been successfully placed.
During the duration of the auction, you will be notified via email on the status of your bid. Like:
- You have the highest bid
- You have been outbid
- The auction has ended
- The auction has been relisted
- Your bid has been successful
If you have been outbid and willing to increase your offer, you must log back in (If you have logged out) and submit a new bid on your selected item.