How does it work for buyers?

How do I buy through The Collectables

Registration

You can register on our website by creating an account. This allows you to create a Watchlist and ask questions on the forum about a Collectable. In order to place a bid, we use a verification process via Stripe. This ensures the identity of bidders and therefore the validity of the bid. You can find more information here.

Bidding

To bid on the Collectable of your choice, simply enter your offer. The buyer’s commission is instantly calculated, so you are always aware of the total financial commitment (the car plus the commission) and won’t be met with unexpected costs.

Unless otherwise stated, all Collectables on the platform have a pre-set minimum sales price (the ‘reserve’), as agreed with the seller. This amount is not disclosed. If the highest bid is below this reserve, the Collectable will not be awarded / sold to the highest bidder.

Once you place a bid, it is final and legally binding. If your bid is the highest and the Collectable is awarded, you are obliged to complete the transaction by purchasing the car and paying the commission.

Are you the highest bidder, but the reserve price was not met? In that case, we will mediate between buyer and seller in order to try and reach an agreement. Only when both parties agree to the terms, will the buyer be liable to pay the commission to The Collectables.

Bid Robot

No time to place your bids manually? You can set up a Bid robot via our website. As soon as another bid comes in, the robot will automatically place a new bid on your behalf (with the minimum increment) until your maximum bid is reached (commonly known as a ‘proxy bid’). For more information, click here.

Automatic time extension

The auction’s closing time will be automatically extended if a new bid is placed within the final 2 minutes. This gives other bidders a fair chance to respond and prevents so-called ‘sniping’. Additionally, The Collectables may decide to extend the auction if the reserve has not been met. The highest bid remains binding.

Viewings and inspections

The selection of cars deemed suitable as a Collectable is based first and foremost on our personal taste and preferences. In addition, we rely on the information provided by the owners as well as public sources such as the RDW and Finnik. We do not perform technical inspections on the Collectables offered through our platform.

If you wish to view the car in person (optionally with an expert), that is possible. Contact us and we’ll schedule an appointment. All sellers have agreed that any desired technical inspection may be carried out.

As an alternative, we can also arrange a video appointment, so the Collectable can be shown remotely in detail.

Commission

The commission related to the auction is payable by the buyer and amounts to 10% of the winning bid, with a minimum of 300 EUR including 21% VAT (as applicable in the Netherlands). This is significantly lower than the margin typically charged by traditional auction houses or car dealers.

The Collectables may decide to deviate from the standard commission for certain listings. This will always be clearly shown in the bidding overview before you confirm your bid.

The commission solely covers the use of the platform and is therefore not a down payment to the seller, nor a first contribution towards any additional costs such as transport, insurance, or other matters that need to be arranged after the purchase.

Commission calculation example

Winning bid          Commission          Commission %

2.500                              300                              12%

5.000                              500                              10%

10.000                           1.000                           10%

25.000                           2.500                           10%

50.000                           5.000                           10%

100.000                        10.000                        10%

250.000                        25.000                        10%

Purchase costs & commission fees

After the auction ends, a commission invoice will be sent to the buyer by The Collectables. This invoice will contain all necessary information regarding the transaction.

The payment of the winning bid will be mutually agreed between buyer and seller. Depending on the seller (business or private), the buyer will either receive an invoice or a purchase agreement will be established between the two parties, after which the buyer can proceed with the payment to the seller.