Bidding in the West Ham auction? Check the small print!
- by Staff Writer
- Friday, 20th May 2016
Supporters currently bidding for items in West Ham United FC's auction are being warned to check the small print in the terms and conditions provided by the club.
With offers already reaching crazy levels for even the most basic of items, bidders should be aware that each item is subject to fees that will raise the total price of each item by around 40 PER CENT.The auction's T&C, which may be found here, state that TWO premiums will be added to each sale price. "All lots are subject to buyer's premium and VAT," it states.
"The buyer's premium is 16 per cent and this will be added to the winning bid price. VAT at 20 per cent will also be added to the winning bid price and the buyer's premium."
By way of an example, the current highest bid for the toilet sign above is £275. Adding VAT at 20 per cent (£55) raises the price to £330.
Meanwhile the buyer's premium equates to £44, which with VAT (£8.80) becomes £52.80. By our reckoning, the final sale price for a £275 item is therefore actually £382.80 - a vast difference from the listed price.
* Thanks to KUMB member erifles for spotting this one.
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