THE ADDITIONAL FEES

The car is yours as soon as the hammer falls, so the next thing to do is pay. Most auctioneers will accept a credit or debit card or a debit card and you can pay with cash up to £7500. Don’t forget, though, that you must pay a buyer’s commission – which varies between auctioneers but can be anything from six to 15 percent – on top the hammer price, and that the buyer’s commission itself is subject to 20 per cent VAT.

Congratulations – it’s yours! But you do know how much you’ll be paying in total, right?