Last updated 18 October 2023

1. Information about us

1.1 “Hammer Price”/ “we” / “us” and “our” refers to Hammer Price Ltd. Registered in Jersey, Channel Islands. Our company registration number is 136420, our registered office is Strawberry Fields, Les Chenolles, St John, Jersey, JE3 4FB.

2. Our terms

2.1 These are the terms and conditions upon which you may access and use our website www.hammerprice.co.uk (the “Site”). By accessing and using our website, you will be legally bound by these Terms.

2.2 Please read these Terms carefully before you use our website.

2.3 Additional to these Terms, the following terms apply to your use of the Site:

• Our privacy policy is available here, which sets out the terms on how we handle your personal information; and
• Our cookie policy is available here, which sets out information about the cookies on our Site.

2.4 If you do not agree with or accept any of these Terms, you should stop using the Site

2.5 We may change the way in which our website or auctions operate and these Terms: 
(a) to reflect changes in laws and regulatory requirements; and 
(b) to reflect changes to such matters as listing policies, payments of buyers or sellers fees and dispute resolutions etc.  

You must therefore check these Terms each time you wish to sell or buy a vehicle to ensure you are aware of any changes we have made.

2.6 If, in the unlikely event you wish to make a complaint please contact us by e-mail on: info@hammerprice.co.uk

3. Using our Site

3.1 Hammer Price is an online automotive auction that provides a platform allowing sellers to list their auction lot and interested buyers to bid with the intention of purchasing the lot. We do not hold possession of or inspect any of the auction lots.

3.2 If access to or the use of the website and auctions is prevented or delayed by an event outside our control, we will take steps to minimise the impact of the delay. We will not however be liable for any delays caused by such event. 

3.3 Your right to use the website and our auction services is dependent on the validity of your registered payment card. If your payment card is out of date or has been cancelled, your access may be withdrawn until your payment details have been updated.  

3.4 Where the website contains links to third party websites, these links are provided for your information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them. We have no control over those websites or resources.

3.5 We try to make sure that the content on the Site is accurate and up-to-date, however we cannot promise this is always the case. Any reliance that you may place on the information on the Site is at your own risk.

3.6 While we try to make sure that the Site is available for your use, we do not promise that the Site is available at all times nor do we promise the uninterrupted use by you of the Site.

4. Registering an account

4.1 You can browse our website without registering.

4.2 In order to use the website as a Buyer or Seller you must first register. To do this you must be over 18.

4.3 When registering you must advise us if you are a private or trade seller. A trade seller is someone operating as a business and not an individual seller. The business may own the car or been given the authority by the ultimate owner to auction lot on their behalf.

4.4 To utilise our buying and selling services we will need to collect specific information from you, including but not limited to:  

• Full Name
• Email Address
• Residential Address
• Telephone Number

We will also ask for your payment card details. When you bid, you are agreeing to pay our buyers premium fee which will be automatically charged to your registered payment card if you are the winning bidder. When you list a vehicle for sale you are agreeing to pay the fees we would have collected from the buyer should you withdraw your vehicle from sale before the end of the auction or if you fail to complete the sale. Your payment details will be held securely by our payment provider Stripe. 

4.5 If we are not able to verify your identity or we have other concerns with your registration application, we reserve the right to decline your application for an account with us.

4.6 As a registered user you are agreeing to use our website only for the purposes it is intended, any unlawful use of our website including but not limited to:

• committing any fraudulent act;
• acting as a consumer when you are a trade seller; or
• using the website in any way that results in causing harm to others, 

will result in your account being suspended or terminated.

5. Listing a vehicle for sale

5.1 To list a vehicle for sale on our website you will first need to complete our online form. 

5.2 A member of our team will review the submission. We may contact you for further details before confirming if the vehicle has been accepted or rejected to list on our website.

5.3 We are under no obligation to list every vehicle offered to us or under an obligation to advise of the reasons why a vehicle has not been accepted. We are only required to advise you that your vehicle has not been accepted. 

5.4 Following acceptance, we will work with you to create the auction listing. We require all listing descriptions to be honest, accurate and a true reflection of the vehicle. This includes but is not limited to vehicle condition, service history, damage, alterations and additions. It remains each seller’s sole responsibility to make sure that the listing is accurate as we will not be held liable for any inaccuracies or omissions.

5.5 If there is any outstanding finance due on the vehicle this must be disclosed during the listing process. If we do discover outstanding finance that has not been disclosed, we may refuse to list the vehicle.  

5.6 If the vehicle has been imported, you as the seller must confirm you have complied with all the requirements, legal or otherwise, relating to any import or export of the vehicle and all taxes and duties in respect of the vehicle have been settled.

 5.7 Our experienced team will provide you with guidance on the valuation. Any valuation provided by us are statements of opinion and should not be relied upon as an actual selling price. 

5.8 Once the details of the vehicle and listing have been finalised, the seller will be required to provide a final approval of the listing. This will include the description of the vehicle, photographs, proposed listing dates for the 7 day auction, the guide price and reserve price if required. Once approved the reserve price cannot be increased. If, Once the listing is approved, you withdraw the listing before the auction has started or finished, you will be charged a fee. The fee is calculated on the agreed reserve price or if no reserve our minimum buyers premium fee will apply.

5.9 Once you have approved a listing you have also agreed to enter into an exclusive auction sale with us and you cannot offer the vehicle for sale elsewhere or sell the vehicle to anyone outside of the website during the listing period. If you do, then you will be charged a fee. The fee is calculated on the agreed reserve price or if no reserve our minimum buyers premium fee will apply.

5.10 Once you have provided your listing approval, the vehicle will be visible to all potential buyers within the ‘Coming Soon’ section of our website. We may also feature your vehicle on other areas of our website, social media, newsletter or other marketing channels to help promote the sale. 

5.11 Once the bidding has successfully ended and the vehicle is sold our auction system will automatically deduct the buyers premium fee from the winning bidder’s registered payment card. We will then virtually introduce the buyer and seller to complete the sale transaction. The sale transaction must be completed within 7 days from the auction ending.  

5.12 If a sale fails to complete as a result of inaccuracies in the description of your vehicle, we have the right to collect an amount equivalent to the buyer’s premium fee from you.

5.13 It is unlawful for you to bid on your own vehicle or to request someone you know to bid on any vehicle associated with your account on your behalf. 

5.14 Further auction details can be found in Appendix 1 of these terms.

6. Buying a vehicle

6.1 You must be registered with us, including providing a valid payment card before you can buy or bid for any vehicle listed on the website. If your payment card becomes invalid, you will be prompted to replace it with a valid payment card. You will be unable to bid on any vehicles until a valid payment card is available on your account.

6.2 Whilst there will be an extensive gallery of photographs provided of the vehicle on the website and we carry out a level of due diligence to confirm ownership and condition, it is your responsibility as the buyer to satisfy yourself that any description applied to the vehicle is accurate. Any outstanding finance will be displayed in the listing; however, it will be your responsibility to ensure that any owing finance is repaid as part of the final transaction.

6.3 We ask all sellers to make their vehicles available to view during the auction.

6.4 When a buyer places a bid the buyer is making an irrevocable offer to purchase the vehicle at that price. If you are the winning bidder, you will then be legally bound to complete that purchase at that price. You cannot withdraw that bid once it has been made. In the event you are the successful bidder at the end of the auction, you will be legally obliged to complete the purchase of the vehicle at the price of your winning bid.  All offers and bids made are done so at your own risk. You must ensure you have sufficient funds available before you place a bid.

6.5 We will have the right to remove any offer or bid made by you in circumstances where:
(a) it is obvious and apparent that the offer or bid made is a mistake (if you have made an error when entering a bid amount you must contact us immediately);
(b) the payment card registered is no longer valid;
(c) we believe you or someone you know is attempting to bid on your auction listing on your behalf;
(d) any seller or proposed buyer is acting in breach of this contract; and
(e) any information that comes into our possession that questions our approval of your application to become a registered buyer.

6.6 Once an auction has concluded, we will inform you of your winning bid and confirm the buyers premium fees that are owed as set out in Appendix 2. The buying fees will automatically be deducted from your registered payment card. If the payment fails, we will continue to pursue your payment via Stripe. If you have failed to pay the amount due within 24 hours, we will contact you and request immediate payment via bank transfer. When we have successfully collected your payment, we will virtually introduce you to the seller to complete the sale. It is your responsibility to arrange completion of the transaction within 7 days of the auction ending.

6.7 If you fail to complete the purchase of the vehicle, we will not refund your buyer’s premium fee.

6.8 You must not attempt to purchase a listed vehicle outside of the website. This applies to any sale completed between a buyer and a seller whilst the listing is live on our website. If this does occur the buyers premium fee which we would have otherwise received from the buyer in accordance with these terms will be charged to the seller.

6.9 If you suspect or discover that a trade seller is using the website to sell vehicles by representing themselves as a private seller, you should let us know immediately by emailing us at info@hammerprice.co.uk.

7. Your rights to end your contract with us

7.1 As a consumer you have a legal right under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, to change your mind within 14 days of registering to use the website. This period starts on the day your application to use the website is accepted by us.  However, if within this 14-day period you list or apply to list a vehicle for sale on the website or make a bid in respect of any vehicle listed for sale, you can no longer change your mind and cancel even if the 14-day period is still running. 

7.2 If you are a trade seller, you do not have a right to cancel as the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 do not apply to you.

8. Our rights to end your contract with us

8.1 We may suspend or terminate your access to the website at any time by writing to you if;

• you break any of these terms; 
• you do not make any payment to us when it is due;
• you do not, within a reasonable time of us asking for it, provide us with information that is necessary for us to allow you to continue to use the website (for example evidence of your identity for verification purposes);
• you fail to disclose that you are a trade seller;
• you withdraw a listing from sale at any time after the auction has commenced;
• you withdraw a bid once you have made it; or
• you fail to complete the purchase of a vehicle you have agreed to buy or successfully bid for in an auction. 

8.2 If we suspend or terminate your access to the website in the situations set out in clause 8.1 you will be required to compensate us for our loss of buyers premium fee.

8.3 We have the right to withdraw a listing at any time at our discretion. We will not be liable to you for any loss you might suffer because of a listing being withdrawn by us. 

9. Buyer and seller agreeing to cancel the purchase of the vehicle

9.1 Following a successful auction and winning bid for the vehicle, neither the buyer nor the seller is allowed as a matter of law to refuse to complete the transaction unless they both agree. If they both agree, the obligation to pay the buyers premium fee remains and the buyer will remain liable for this.

10. Disputes between the buyer and seller

10.1 Any dispute between the buyer and seller arising out of a Hammer Price auction sale will be resolved between the buyer and seller.

11. Special Auctions

11.1 Our Terms, as stated above, are still valid for any types of ‘Special’ auctions which we host. Changes to these Terms such as an alternative structure for buyers fees, or any other changes will be set-out on the specific auction listing.

Appendix 1 – Auction Details

Bidding Rules

Bidding will progress in £100 increments once the reserve is met. If no reserve, bidding will start at the lowest increment of £100.

Bids must be in multiples of the bid increment, for example if the bidding opens at £100 the next bid is £200.

Maximum bids 

Submitting a maximum bid enables the system to place bids on behalf of the bidder when someone else places a bid against the same vehicle. If the maximum bid is placed before the reserve is met it will automatically place a bid at the reserve price. 

A Maximum bid will ensure the absent bidder leads the bidding until another bidder places a bid higher than their Maximum bid value.

If two bidders place a bid of equal value, the bid received first by the system will be the leading bid.

Auction time

All vehicles will be open for bids for 7 days.  

Anti-Snipe rules

If a bid is placed within the last 2 minutes of the auction ending the bidding time will be extended by 2 minutes.

The auction will only end when a clear 2 minute period has elapsed without a bid being placed.

Appendix 2 – Fees

Selling – it is free to sell on our website.

Buying – The buyer will be charged a buyers premium fee if they are the winning bidder.

Buyers Premium Fee – 5% of the winning bid