.

WHY SELL WITH HOTLOTZ?

Hotlotz is an award winning auction house located in Singapore. We sell curated secondary market items, on consignment, in a range of trusted, convenient and sustainable general and specialist timed auctions. Learn more about what we sell here.


Our aim is to provide you with the best possible selling experience.


Local & Global Marketing


All our auctions are jointly listed on hotlotz.com, and on the market-leading international auction bidding platform, thesaleroom.com. This provides sellers in Singapore with full access to local and global buyers, giving your property the widest possible audience.


Ultimate Price Discovery


Bidding, by its very nature, is a competitive process. Unlike fixed price digital marketplaces, the price of desirable items can rise considerably in auction if demand is high. That’s why it’s often said that auctions are the ultimate form of price discovery!


Flexible & Convenient Solutions


With a commission-based business model, Hotlotz is highly motivated to achieve the best possible results. Our professional valuers will discuss and agree prices with you, so you remain in control at all times.


Some clients prefer less input and choose to consign general items with us at ‘no reserve’, putting their trust in our experience and ‘best endeavours’ to obtain the highest possible results for them.


For your convenience we can also list any unsold items in the Hotlotz Marketplace, at pre-agreed fixed prices. This appeals to clients who do not want anything returned.


Exceptional Service


Our experienced valuation and client services teams are on hand to support you through the auction process. Forget haggling over prices with potential buyers, or showing strangers items in your home. As your agent we always act in your best interest.


All-Inclusive Seller’s Commission


Seller’s commission fees include professional valuation, cataloguing, photography, and local and international marketing. Only insurance fees and costs relating to services we have arranged on your behalf with external suppliers, such as costs relating to shipping items into our saleroom, are not part of our all-inclusive seller’s commission fee.


We Are Singapore’s Saleroom


We are regulated by the Ministry of Law and have been trusted by sellers in Singapore since 2015. We have an in-depth knowledge of the local market and an extensive network of local and international buyers. We are proud to consider ourselves Singapore’s saleroom.

GET STARTED

Register


Before you can sell with Hotlotz you need to create a Hotlotz account, if you don’t already have one. This is free-of-charge and only takes a minute or two.


Less Than Five Items? Use Our Online ‘Sell With Us’ Valuation Tool


Once you have registered with Hotlotz, and if you have less than five items you would like to discuss, you can request a complimentary appraisal using the sell with us online valuation tool on our homepage.


Our valuation team will review your submission, and, if your item is suitable for sale at Hotlotz, we will provide you with an appraisal and our recommendations on how best to proceed.


Please provide additional information such as dimensions, materials and history, and upload clear colour photographs. We aim to respond to all submissions within a week but this can take longer during busy periods.


Please note that we do not provide appraisals for items that are of a type or value that are typically not sold in Hotlotz auctions.


Larger Quantities? No Problem


We are very experienced in selling large quantities of items and are happy to make confidential house or office visits to discuss how we can support your objectives.


Learn more about some of our successful Home Contents and Private Collection sales, as well as the support that we can provide if you are representing a family estate or the insolvency division of a business.


If you would like to find out more about consigning a large quantity of items, please send an introductory email. One of our valuation team will be in touch.

BEFORE THE SALE

Our professional valuation team will appraise your item and offer you fair advice as to what price you could expect to achieve at auction in the current market. Appraisals are based on a wide range of factors depending on the type of item, but they always include our examination of the item, its provenance and condition, and recent local and global auction records for comparable items.


As part of the appraisal we will also recommend the specific sale that we believe your item should be listed in, from the range of general and specialist auctions that we hold.


Auctioneer’s Tip - We publish a full set of auction results after every auction. We encourage sellers to browse the prices achieved by similar items in previous auctions, as this can provide an good indication of what to expect!


Agreeing to Estimates and Opening Bid Prices



We will agree a low and high estimate range for each item with you. We expect the item to sell within this range, but prices can rise significantly in an auction, as bidding is not capped.


We will also agree an opening bid price. This is also the item’s reserve price so it is the lowest price that the item can be bought for.


This information is published in the auction catalogue and is publicly available to potential buyers.


Auctioneer’s Tip - Setting pragmatic and attractive opening bid prices usually delivers the highest levels of competitive bidding, which in turn delivers the best auction results. This is particularly relevant with timed online auctions.


Consignment into the Saleroom


You will be advised on when we need to physically receive your item. This depends on how closely our professional valuers need to examine it. Many items can be initially appraised from a photograph or they are appraised in advance during a house visit.


Please note that estimates and opening bid prices that are provided from photographs or house visits may be subject to revision after a full examination has taken place in the saleroom.


Our client services team can also support you if you need help shipping your items into the saleroom. We can liaise with our trusted external suppliers on your behalf and provide you with a quotation for approval.


We do require all items that we sell to be available for viewing in the saleroom. Bidding is binding so it is essential that buyers can inspect items before they bid. The only exception is for items offered for sale in our ‘Home Contents’ auctions, where viewing takes place at the property.


Please do not send items into the saleroom speculatively for review.


Signing Your Sales Contract


Before we can sell your items we need you to agree and sign your sales contract. This is legally binding and outlines the terms and conditions between you and Hotlotz, including stating the specific auction your item will be listed in, the opening bid amounts and estimates, our fees and any instructions from you if the item is unsold.


Sales contracts are filed in your Hotlotz account and require an electronic sign off. You will be sent an email with a link and full instructions when your sales contract is ready for approval.


Enhanced Identity Information


You may also be asked to provide enhanced identity information, including uploading a copy of your passport or other government-issued photo ID to your Hotlotz account.


This is required to keep your account safe and to enable us to stay current with Anti-Money Laundering (AML) and Know Your Customer (KYC) guidelines. All information is collected in accordance with the Personal Data Protection Act 2012.

AFTER THE SALE

Auctions Results


You will be emailed a consignment update notification at midday on the day after the auction. This will confirm the closing bid price of each item that we have sold.


Please note that in line with Singapore price display rules, closing bid prices are displayed as inclusive of GST paid by the buyer.


You can also check the status of your consigned items at any time in the overview section of your Hotlotz account.


A full set of auction results is also published at hotlotz.com within 24 hours of every auction closing.


Settlements


Our finance team will act on your behalf to secure payment from the buyer. If you have provided your bank account details, and we have received payment in full from the buyer, we will send your settlement payment to your nominated bank account. We aim to do this within 21 days.


You are responsible for entering your bank account details in your Hotlotz account. Please ensure that these remain up-to-date. Please note that Hotlotz does not make settlement payments to individuals or organisations that are not named as the registered seller on the sales contract.


Your settlement payment will be accompanied by a computer-generated settlement statement that is sent by email. This statement confirms your net proceeds from the auction, after any agreed-upon commissions, fees, expenses and GST have been deducted.


You can also find your settlement statement in your Hotlotz account alongside an explainer, should you have any questions.


Removals


We have extremely limited storage capacity so we encourage the swift removal of sold items.


Our finance team ensures that payment has been received in full before we release any item for self-collection or shipping. Please note that any outbound shipping costs are the responsibility of the buyer.


Unsold Items


If a buyer was not found for your item we will refer to the instructions given in your sales contract. We may offer it for sale at a fixed price in the Hotlotz Marketplace, re-offer it in another auction or contact you to collect your property.

FINANCIAL INFORMATION

Seller’s Commission


Hotlotz charges an all-inclusive seller’s commission fee for the services we provide. This fee is calculated on each item as a fixed percentage of the closing bid price achieved in auction (or the fixed price if sold in the Hotlotz Marketplace), after GST paid by the buyer has been deducted. This fee includes all valuation, cataloguing, professional photography, and international marketing costs.


Most consignment is accepted with no upfront fees, and no unsold fees are charged if the item fails to sell, so we are highly motivated to deliver the best possible results.


Minimum Commission Fee


We charge a minimum commission fee of $37.38 exc. GST ($40.00 inc. GST) per item, regardless of the item’s closing bid price.


Insurance Fee


We charge an insurance fee of 1.5% exc. GST (1.605% inc. GST). This fee is calculated on each item as a fixed percentage of the closing bid price achieved in auction (or the fixed price if sold in the Hotlotz Marketplace) after GST paid by the buyer has been deducted.


Insurance fees do not apply to items sold in ‘Home Contents’ auctions, as these items are not brought into the saleroom.


Withdrawal Fee


We charge a withdrawal fee of $56.07 exc. GST ($60.00 inc. GST) per item, If you ask us to withdraw an item after you have signed your sales contract.


External Services


You may also be charged for other expenses relating to services we have arranged on your behalf with external suppliers, such as costs relating to shipping items into our saleroom or professional cleaning or framing. These expenses will be discussed and agreed with you beforehand. We may deduct these expenses from your sale proceeds. GST may also be due on these expenses.


Auction Currency


All bidding increments, opening and current bids, closing bids (also known as the hammer price) as well as fixed prices in the Hotlotz Marketplace, are denominated in Singapore Dollars and, in line with Singapore price display rules, are shown as inclusive of GST paid by the buyer.

YOUR HOTLOTZ ACCOUNT

You can manage a wide range of functionality from the dashboard in your Hotlotz account. You can:


  • Update your profile, address book and preferences
  • Upload enhanced identity information
  • Request appraisals using our ‘sell with us’ valuation tool
  • Review items in your ‘watchlists’
  • Sign sales contracts
  • Manage consigned items
  • Review invoices and make payments
  • Review settlement statements
  • Save payment card and bank account details

YOUR RESPONSIBILITY AS A SELLER

Please help us by adhering to the following guidelines:


  • We accept items for sale exclusively. If your items are concurrently listed for sale on another platform we will withdraw them from sale and you will be charged a withdrawal fee
  • Keep identity and contact information up-to-date. Upload enhanced identity information into your Hotlotz account if requested
  • Keep bank account information up-to-date. Never use bank account details that belong to someone else, even a spouse or family member
  • If requested, please remove any unsold items from the saleroom promptly, or storage fees may apply
  • Congratulate yourself! Selling in the secondary market is smart. We find a new owner for your items, and you make money (to buy more things from Hotlotz!)

CONDITIONS OF SALE

Please note the following specific conditions. Learn more about our Terms & Conditions here.


Withdrawing Items


It is possible to withdraw an item from sale in certain circumstances, however we do not encourage this. Please telephone the saleroom at your earliest opportunity if you would like to discuss withdrawing an item.


Please note that you will be charged a withdrawal fee of $60.00 inc. GST if you withdraw an item after you have signed your sales contract.

CONTACT US

We're always here to help. If you have questions you can find the answers you are looking for by browsing common topics in our FAQ and Glossary sections. You can also visit our saleroom and speak to a member of the team, or contact us by phone on (+65) 6254 7616 or by email at hello@hotlotz.com.

Stay up-to-date with Hotlotz

Twitter