Participating in Maak Auctions
The following information is intended to assist Bidders and Buyers. All Maak Auctions are conducted according to our Conditions of Sale which can be viewed in the Maak Terms and Conditions. Here you will find information on the following areas however if you still have any questions we are very happy to answer them and talk you through the process so please feel free to contact us.
• Buyer's Premium
• Artist Resale Right
• Collection & Shipping
Where can I view the auctions?
All auction lots can be previewed on our website 2-4 weeks prior to an auction going live. Although we do not produce a printed catalogue it we are able to provide a basic printed list of works in the auction for those not able to view the auction online.
All works in our auctions are also exhibited on public view - please refer to the individual auction details for more information.
How can I register to bid?
All visitors to the Maak website are able to view full details of the lots in an auction. However in order to participate and place bids in an Auction, Bidders must register their details, thereby agreeing to the Maak Terms and Conditions. Please click Register to submit your details online or you can register with us in person during the auction viewing.
Once registered you will not need to re-register for subsequent auctions, simply click Sign In and use your registration details to access your account.
How does online bidding work?
Each lot has an individual auction end time as stated on the Website, with lots in an auction generally ending two minutes apart. Any bid placed within the last 5 minutes of a lot’s auction end time will extend the lot’s period of bidding by up to 5 minutes to allow time for counter bids.
The Successful Bid in any Auction will be the first highest bid as registered by the system that equals or exceeds the reserve price at the point of a lot’s auction end time.
You can submit bids incrementally as per the next possible bid as indicated on the bidding screen.
You can also submit a maximum bid. This bid is similar to an absentee bid, is strictly confidential and can only be viewed by you. A maximum bid allows you to place a bid for the maximum level that you are willing to bid and iRostrum will then bid on your behalf up to your maximum amount. Your bid will always be at the lowest possible level subject to the reserve price and any other bids placed
on the lot. If no other bids are placed on a lot then your bid will be no more than the reserve price for that lot. If other bids are placed on the lot your bid will only be one increment higher than the highest other bid, up to your maximum. If there are two or more equal bids submitted on a lot then the bid submitted first will take precedence. You may increase your maximum bid at any time without any possibility of bidding against yourself.
If you are unable to submit a bid directly through our online bidding platform you can request to submit an Absentee Bid by completing and signing an Absentee Bidding Form and returning it to Maak. It is the Bidder’s responsibility to check that the Absentee Bidding Form has been received by Maak. This additional service is complimentary and confidential. Such bids are at the Bidder’s own risk and Maak cannot accept liability for our failure to receive and/or place any such bids.
Bidding increments are generally set at 10% of the Current Bid. If a bid placed does not match an actual bid increment it will automatically be rounded down to the nearest actual bid increment and will be confirmed onscreen.
T: +44 (0)7903 049 444
What are the charges?
A Buyer’s Premium of 20% plus VAT is payable on the hammer price
Artist Resale Right
On certain Lots marked ‘AR’ in the Catalogue that are sold for a Hammer Price of €1,000 or greater (converted into GBP using the European Central Bank Reference rate prevailing on the Auction End date) an additional premium will be payable by the Buyer to cover the payment of royalties under the Artist Resale Right Regulations 2006. The additional premium will be a percentage of the amount of the hammer price calculated in accordance with the table below, and shall not exceed the equivalent of €12,500.
Hammer Price Percentage Amount
From €0 to €1,000 0%
From €1,000 to €50,000 4%
From €50,000.01 to €200,000 3%
From €200,000.01 to €350,000 1%
From €350,000.01 to €500,000 0.5%
Exceeding €500,000 0.25%
As standard no VAT is charged on the hammer price, but VAT at the prevailing rate, currently 20%, will be added to the buyer’s
The following symbols are used to denote that VAT is due on the hammer price and buyer’s premium:
† VAT at 20% on hammer price and buyer’s premium
Ω VAT on imported items at 20% on hammer price and buyer’s premium
* VAT on imported items at reduced rate of 5% on hammer price and 20% on buyer’s premium
● Zero rated for VAT, no VAT will be added to the hammer price or the buyer’s premium
How can I pay for my purchase?
Your invoice will be available immediately after the auction has concluded. Invoices are usually sent out within 24 hours of the auction.
Payments can be made in person at the auction viewing venue the day after an auction, or over the telephone.
T: +44 (0) 7903 049 444
The final amount due will include the hammer price, the buyers premium, any applicable taxes and other charges such as ARR and shipping if requested.
Payment of the total Purchase Price will be due from a successful Bidder in cleared funds within seven (7) days of the Auction end.
Payment must be by one of the methods stated below. Unless agreed otherwise by Maak in advance, payments made by anyone other than the registered buyer will not be accepted.
Cheque Sterling personal cheque drawn on a UK branch of a bank or building society: all cheques must be cleared prior to collection of Purchased Lots. Cheques must be made payable to Maak
Bank Transfer Please quote your invoice number and Surname as the reference.
Bank: HSBC Bank plc
Address: 172 Upper Richmond Road, London SW15 2SH
Account Name: Maak Client Account
Sort Code: 40-05-31
Account Number: 73663841
IBAN Number: GB91MIDL40053173663841
If paying by bank transfer the amount received after the deduction of any bank fees and/or conversion of the currency of payment into Sterling must not be less than the Sterling amount payable, as set out on the invoice.
Cash You may pay for Lots purchased by you the Auction in Sterling Cash, provided that the total amount payable is respect of all Lots purchased by you in the Auction does not exceed £5,000. If the amount payable exceeds that sum, the balance must be paid by other means.
Debit Cards There is no additional charge for purchases made with debit cards issued by a UK Bank. Payments with debit cards issued by an overseas bank will be subject to a 3% surcharge.
Credit Cards For all credit card payments there is a 3% surcharge on the total invoice value.
Where can I collect my purchase?
All lots are transferred to Maak’s Art Handlers ArtFX Fine Art Services Ltd on the Friday immediately following an auction.
Successful bidders wishing to collect purchased lots from the auction venue on the Friday immediately following the Auction 11am to 3pm and the Saturday immediately following the Auction 11am to 2pm must notify Maak in advance no later than 12pm on the Friday following the auction.
After this time they will be transferred to Maak’s Art Handler ArtFX Fine Art Services Ltd.
ArtFX Fine Art Services Ltd
37 Linford Street
T: +44 (0)20 7720 5566
Lots will be available for collection from ArtFX Fine Art Services Ltd from the Tuesday following the Auction and then every business day from 9am to 5pm. Collections are by prior appointment so please contact ArtFX to notify them of your wish to collect.
Lots may only be released from ArtFX Fine Art Services Ltd on production of a ‘Release Note’ obtained from the Maak accounts department.
For all sold lots transferred to ArtFX Fine Art Services Ltd there will be no charge for lots collected within 14 days of the sale date. For lots which remain after this date without prior arrangement the right is reserved to charge storage a daily rate of £1.50 per lot at the Buyer’s Risk
How can I arrange shipping?
To obtain estimates to ship purchased lots within the UK and internationally and to apply for Export Licences please contact ArtFX Fine Art Services Ltd directly.