Can I remove a lot from auction? what penalties are there?
We recognise from time to time, items have to be withdrawn from sale. It's the responsibility of the seller to ensure items listed are available and remain in the condition that they are described. If you do have to remove an item from auction, then you should notify the auctioneer ASAP. Assuming any bidding is below the reserve price then there will be no penalties for removing the lot, although efforts should be made to avoid persistently removing items in this way. In any event, an item cannot be removed from auction once a bid has been placed that meets or exceeds the reserve price. It is the seller’s responsibility to check the current bidding status of each lot before taking any action that would require its removal from auction. Where an item is removed from auction by a seller after any such bid has been placed they will be in breach of the terms of the auction and liable to cover the buyer’s premium for that lot, calculated on the reserve price of the item or the highest bid at the time the auctioneer is notified of its removal, whichever is the greater.