End of an Auction

What happens when your Auction closes or ends

Updated over a week ago

When an Auction ends

Reserve Met

If the Reserve Price has been met, you will be notified by email to say your Auction has ended and what the winning bid was.

This email will contain the contact details for you to get in touch with the buyer directly and arrange settlement.

Reserve Not Met

If the Reserve Price has not been met you may choose to contact the bidders directly to negotiate a price. They might also choose to contact you directly to negotiate a price if they are still interested. In this instance, we would still charge a final value fee for introducing you to the buyer.

Alternatively, you can relist the Auction. You will need to contact us and let us know that your Auction did not sell and we will make this listing available again for you to create a new Auction (unless this listing is expired / older than 12 months).

What to do next

When your Auction closes and the Reserve Price has been met, you must contact the buyer directly to discuss the sale, transfer of funds and transportation (if applicable).

Any transfer of funds will take place between you and the buyer and will need to be arranged with them directly. Hoofpick does not handle any funds transfer.

We will invoice you the Final Value Fee and this must be settled within the specified timeframe. We reserve the right to withdraw your use of Hoofpick for running any further Auctions if this is not settled.

Final Value Fees

In addition to the auction listing fee, when your item sells, you pay 5% of the final transaction value. We call this a final value fee. We cap final value fees so you'll never pay more than £150 for a single item. If your item doesn't sell you usually don't pay a final value fee. However, if you offer or reference your contact information to another user or ask a buyer for their contact information, in the context of buying or selling outside of Hoofpick, we charge a final value fee for introducing you to the buyer. In this case, the final value fee is based on the higher of the fixed price, auction start price, reserve price or the price identified between the buyer and seller.

Please note:

When an Auction ends, you will need to contact us to remove this listing from your account and make a new listing available for you to use (unless it's expired). You can do this by using the chat widget in the bottom right to get in touch.

Did this answer your question?