Welcome to Vectis - For Toy Collectors World-Wide
How does the thought of buying or selling at auction grab you? For many, it remains a worrying prospect, largely thanks to inaccurate tales of woe. But the fears are unfounded, especially if you use a reputable auction house. Auction houses are there to serve the buyer and seller as well as possible. Scratching the ear won't mean you have bought a lot you never wanted. Selling won't mean disposing of your choicest items at give-away prices. The past 20 years have seen a major revolution when it comes to model collecting. There was a time when shops catering for collectors were few and far between. The swapmeet emerged - at first truly a swapmeet, before it became an arena for buying and selling. Manufacturers have responded to the changing times: once models were an adjunct to the toy industry; now the reverse is true, and indeed many cater solely for the collector. Magazines have come; some have gone. And the auction has emerged as an alternative means of buying and selling. But just how easy is it? Vectis Auctions is now one of the the foremost names in the world when it comes to the auction of toys.
Many subscribe to the catalogues, thus ensuring that no sale, no individual item, is overlooked. However, for those who prefer, advice about sales is normally published about 4 to 8 weeks in advance (through advertisements in magazines), so the catalogue for an individual sale can be purchased separately.
Purchase of the catalogue entitles two people to attend the auction. We take great care with the production of the catalogue. Every lot is meticulously and accurately described. As a result potential buyers can be reassured that the items which they are bidding for will be as described. Indeed we tend to err on the side of caution, particularly when it comes to the all-important aspects of condition, of both model and its box.
Those who are able to attend the sale can, of course, spend a while examining the lots prior to the auction. However, for the majority such viewing is not possible, so the catalogue description becomes all-important. We operate a detailed grading system for models and boxes, which is fully detailed in each catalogue.
There are still many, of course, who find they can, indeed prefer to, attend the auction in person; there is extra excitement of bidding in the room, stirring up the adrenaline.
Bidding in person is anonymous; buyers are given numbers, so no names are disclosed. Plus, there is the chance to make an immediate decision if it seems to be particularly desired lot within reach. However, naturally, most attending in person take the precaution of determining what will probably be the maximum bid for any lot in advance.
The auctioneer will start the bidding in the room either based on bids already received in the post, or an amount, which the auctioneer feels, is reasonable for the items concerned. If the seller has placed a reserve price on the lot (that is, a price below which the item may not be sold), this clearly has to be borne in mind by the auctioneer. The amounts by which the bidding rises is pre-determined by the auctioneer not the bidder: this is common practice among auctioneers, and does prevent 'silly' bids. The difference between one bid and the next is known as the 'increment'. The gavel falls once the final bid for a lot has been accepted by the auctioneer. If it is your bid, the lot is yours. Naturally those attending the sale are expected to pay for and collect their purchases on the spot. A buyer's commission will be added to the price called out by the auctioneer at the fall of the gavel. Auctioneers vary in the commission charged, so it is best to check in advance.
When placing a postal bid, you are stating that this is a maximum you are prepared to pay for a particular lot. It does not mean that this is the amount you will pay, for the auctioneer will try to secure the lot for you for less. A fear does exist among many who have never submitted a postal bid that one ends up paying the amount of the maximum bid. No auctioneer of repute would condone such practice.
If, when the lot is offered in the room, no other bids are received, the highest postal bid will receive the lot at the one increment above the bid of the second highest bidder. However, buyers in the room can increase the bidding, the auctioneer 'bidding' on behalf of the highest postal bidder until such time as that bid may be exceeded in the room. If two identical postal bids are received for the same 'highest' amount, the first received will take preference. Some postal bidders, while placing bids on several lots, request that the auctioneer limit their total spending. For example, if bids are placed on five lots, the first three are secured, but, in so doing, the buyer has reached the total to be spent, the auctioneer will ignore the bids on the remaining lots. If the spending limit hasn't been reached, the auctioneer can continue to take the postal bids on account. Increasingly potential buyers are seeking the best of both worlds: not able to attend in person, but wishing to compete in the excitement of personal bidding by having a telephone link during the actual sale. Those who are not present in person are advised of their success in securing at least some, if not all, of the lots wanted. An invoice is sent, the costs being as for those bidding in person, although naturally the cost of packaging and carriage will be included. Many in fact leave their credit card details with the auctioneer so that there is no delay in despatching the lots. In other cases, payment can be made by cheque or credit card: on receipt of payment, the lots will be sent.
Buying at auction need not be a frightening experience: indeed, it can be exciting, either bidding in person or waiting to hear whether a postal bid has been successful. Why not give it a try?
Your collection could benefit from that item you've been wanting for ages. 
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Firstly, I'll examine the question of buying at auction.
First you need the sale catalogue: essential of course, to discover just what is on offer. At Vectis we normally plan to have the catalogue ready about three weeks prior to the sale; time to pour through the pages to see if there are any items on offer which might be of interest.
As an additional service, we maintain a record of collectors' interests, and will only send catalogues of those sales known to include items, which may be of interest.
Providing such careful descriptions is a matter of policy for us at Vectis. We realise that the majority of those bidding will not be able to attend the sale, nor examine the items in advance, and must therefore be able to rely on the descriptions with confidence. Our aim is to have satisfied customers: that no one has challenged the description on receipt of a lot is testimony to the success of this policy.
A further contributory factor is that virtually every item is photographed, so that in the catalogue those bidding can see the items they are hoping to buy.
There is no problem, however, if a personal visit to the auction is not possible, for a bid can always be placed in advance. (Indeed there are many that prefer this, as it means that the upper spending limit is established, with no fear of being carried away by the euphoria of being in person at the sale). Bids can be submitted by post, fax or e-mail.
The principle adopted is simple: the auctioneer reviews all the postal bids received for a particular lot, and selects the top two. The lot is then offered in the saleroom at one increment above the second highest bid. The theory is simple: if all the postal bidders were in the room, the bidding would end with just the top two in contention. The second highest would make a bid, which would then be topped with a further bid at one increment higher by the highest bidder.
I'm proud of the care and attention our staff takes in packaging the lots, ensuring that they reach our customers safe and sound. After all, lots from Vectis Auctions are sent around the world, regularly to the Far East, Australia and New Zealand.