What happens when I win an auction?
You will be contacted by your Consignment Concierge to discuss next steps. We will then issue a buyer's commitment request of £3,000.00 (£2,500+VAT) to be paid within eight working hours by credit or debit card.
Your payment will trigger a fund transfer request for the balance by bank transfer into the escrow account to be paid within 72 hours. We will then be in contact to discuss collection or delivery dates with you. Upon receipt of the full funds, we create the Bill of Sale and send it to the seller to sign digitally via Docusign.
Upon delivery or collection, the buyer will sign the Bill of Sale to confirm receipt and that the car is as described. Your signature will release the funds from the Escrow account to the seller and the buyer’s fee proportion to PaddlUp. We will then issue an invoice from PaddlUp for the buyers fee for your records. When this has been completed, we will transfer ownership or any registration requirements regarding the V5C document.