Payments for Successful Bids
On the completion of the auction, if you have succeeded in winning an item you will receive email notification. Payment for any won items is due immediately. An invoice will be automatically emailed to you the winning bidder.
We accept the following payment methods:
- Electronic bank transfer - CHAPS same day payment or BACS
- Bankers Draft
- WE DO NOT ACCEPT CREDIT CARDS OR CHEQUES
- We insist on cleared funds prior to the release of goods
Payment of Sales Tax (V.A.T.)
Payment of vat (sales tax) at current UK rate of 20% will apply on both the hammer price and buyers premium on any items purchased. With regard to overseas customers, if good are to be exported out of the UK, VAT can be refunded on the hammer price, subject to 1st Machinery Auctions receiving sufficient proof of export. This refund is also subject to the goods leaving the UK within 3 months of the auctions end date. Exporters must be aware that VAT on the buyers premium will not be refunded as it is categorised by HM Customs and Exise as a "service charge" within the UK.