e type valuation

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TGN
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#41 Re: e type valuation

Post by TGN » Thu Jul 14, 2022 4:42 pm

It didn’t have a reserve and sold at the hammer price.
That’ll be it’s final price plus commission and vat.
Trevor.
62 FHC 8607**, 64 Panhard 24CT, 68 Mini Cooper, Caterham 7, 64 Mini pickup

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christopher storey
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#42 Re: e type valuation

Post by christopher storey » Thu Jul 14, 2022 9:20 pm

Ah, I see. It still doesn't make complete sense, however, because £9200 plus 12.5% plus VAT.would be £ 10,580 whereas it's now stated at £10350 which seems to ignore the VAT . It is singularly unimpressive that they cannot even get simple arithmetic right - or perhaps they assume that the purchaser is VAT registered and therefore can get the inputtax back

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TGN
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#43 Re: e type valuation

Post by TGN » Thu Jul 14, 2022 11:55 pm

You only pay VAT on thr commission.
Trevor.
62 FHC 8607**, 64 Panhard 24CT, 68 Mini Cooper, Caterham 7, 64 Mini pickup

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christopher storey
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#44 Re: e type valuation

Post by christopher storey » Fri Jul 15, 2022 7:13 am

Yes, of course I'm aware of that. But the total payment to be made by the buyer was £10,580 and not the £10,350 stated. Still a very good result indeed for the vendor

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dlgis
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#45 Re: e type valuation

Post by dlgis » Fri Jul 15, 2022 7:21 am

Many auction houses quote the sales price or “result” as the hammer price + their fee ( before VAT), so the purchaser will have paid £10580 but the result will show as £10350. The difference is just the vat on fees 👍
Darryl
1964 S1 FHC 3.8 opalescent maroon
2007 XKR convertible

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