Bid at Auction

Bidding at Cheffins’ Property Auctions is straightforward. There are four methods for you to choose from:

1. Online: you can view the auction live and bid from the comfort of your own home
2. Proxy bid:  you instruct the auctioneer prior to the auction to bid on your behalf up to a maximum bid  
3. Telephone: one of our auction team will call you live from the auction room and take instruction to bid on your behalf
4. In person: our auctions are now back in our auction room in Cambridge, please register in advance of auction day

In order to be able to bid, we require some administration to be completed by you:

Before the auction

1. You must register your preferred method of bidding with the auction team at least 48 hours before the auction starts. You can do this by clicking here, by emailing us at property.auctions@cheffins.co.uk or by calling us – 01223 213777.
2. We must receive a bidders security deposit 48 hours prior to the auction, this being 10% of the guide price (subject to a minimum of £3,000) if paying by bank transfer, or a £7,500 hold on debit card if using Opayo online registration system. 
3. If paying the deposit by transfer please transfer the bidder security amount to Cheffins Clients Account, 20-17-68, 03914062, using the Lot Number and your Surname as reference. 
4. If you are successful and the 10% deposit of the winning bid is more than the security held, the additional amount is required within 24hrs of the auction, in addition to the buyers contract fee (See terms and conditions).
5. We will also ask you to verify your identity by providing us with copies of personal documents such as a passport, driving licence, bank statement, utility bill etc.

Please note that we cannot authorise your bid until we have your completed registration forms and personal identification documents.

On auction day

Bidding online: before the auction you will be sent an email from the Essential Information Group property auction portal https://www.eigpropertyauctions.co.uk/ containing a link to the auction. EIG is the platform on which our live webcast auctions and timed online property auctions are hosted. We recommend that you have a stable internet connection. You will be able to see a live feed of the auction room and be able to place your bid on the properties of interest to you in real time.

Telephone bidding: please ensure that the contact number you have provided to us has a good signal and that you are freely contactable for the duration of the auction. A member of the Cheffins auction team will contact you a few minutes before the bidding starts on the relevant Lot. Your allocated Cheffins bidder will then relay the bids to you in real time and take instruction from you as to how much you want to bid.

Winning bids

Should the 10% deposit of winning bid be more than the bidder security payment held, the additional amount is required within 24hrs of the auction, in addition to the buyer’s contract fee of £600 including VAT for purchases upto £150,000, or £900 including VAT for purchases of £150,000 or over. If you are not the successful bidder this fee is not payable.

The Completion Date is the date specified in the Special Conditions, or if no date is specified, 20 business days after the contract date as per the Common Auction Conditions.

Important Buyers Information