Introduction
The BMFA Model Aircraft and Engine Auctions have become and established and popular aspect of the activity at the National Centre, they also provide a meaningful service to members and their families. It is a sad fact that a significant proportion of the items we sell through the auctions come from either members who are ceasing aeromodelling due to age, or from the estates of deceased members.
We have assisted a number of families who have been faced with disposing of large collections of engines and aircraft, it can be a difficult time and the team at the National Centre will always do our best to make the process as easy and smooth as possible.
Of course, the auctions also represent a great “trading platform” for collectors and enthusiasts alike
Submitting items through the BMFA auction platform is a cost effective and efficient way to sell items, our reach is international and we now send items all over the world, Importantly, our commission rates are significantly below those of the full-time commercial auction houses and also attract a targeted audience.
Initial points to consider
We can generally accept everything from single items to very large collections, and everything in between, however, the auction platform is not always the best option as it doesn’t suit all items and situations.
Primary factors to consider below.
- Overall values - against lotting and commission fees – it is important that you are familiar with the most up to date terms and conditions as well as the lotting and commission fee structure – there is a lotting fee for every item submitted which is payable even if the item doesn’t sell, this is a fixed fee. Additionally, there is a commission fee payable by the vendor which is calculated as a percentage of the selling price, these figures are deducted from your final payment after the sale and all associated transactions are complete.
- Required timescales – our large auctions are generally filled quickly and we are often planning sales well in advance (up to a year lead time to accommodate very large collections). Additionally, the cataloguing process is time consuming and needs to be fitted in around other activities in order to keep the costs attractive – check with the Auction Team regarding the current lead time we are working to.
- Nature of Items – think carefully about what it is you are submitting, the auction platform isn’t the best solution for all items, low value items or large items can be better at a swapmeet, airframes can attract more interest on the BMFA Classifieds platform (which is free to members) unless we are holding a dedicated airframe auction. Also think about grouping items, where we receive multiple low value items we group them into appropriate multiple Lots, it saves us time and saves you, the vendor money on lotting fees.
- Item Condition – we produce our own descriptions for all items; however, these are often initially based on information provided by the vendor. For engines it is much better to submit items that are clean and turn over freely, if they are seized solid and gummed up with thirty years of castor oil, then this will be reflected in our description and will of course significantly reduce our estimate and the likely appeal to bidders. For kits, ensure as far as possible they are complete, or inform us of any known shortfalls. With the amount of engines coming to market, purchasers have an extensive choice, particularly with the more common models, don’t submit a clapped out OS40 with a bent silencer and missing needle valve and expect it to sell well. Ideally, engines either need to be new in box, in very good used condition, or very rare to do well. If you send a box of unsorted dirty oily “run of the mill” engines, then it is likely we will not submit them to sale, if this occurs, the vendor is responsible for their return including any costs incurred. If you are unsure regarding submitting items, then the best option is always to call for a chat to assist your decision making.
Submitting your items
Having considered the points made above and wishing to proceed with entering items for auction, the steps are set out below:
- Make contact with the auction team to discuss your requirements and your proposed items to be submitted (usually Manny is the point of contact for this step).
- Ensure that you are familiar with the T’s & C’s, the commission rates and the lotting fees that will apply to the specific sale your items will be entered into (ensure it is the current version of the document).
- Once an agreement to proceed is reached, complete an auction submission form – if you are familiar with the items they can be listed individually on the form, for large collections submitted by non- modellers (for example families or executors of deceased estates) then the form can just record contact details and then we list and describe the items as we sort through them.
- Items entered for sale need to be delivered or sent to the National Centre at an agreed timing, for large collections we can sometimes assist with transport (by large van) at a set mileage cost which is factored into the final settlement figure.
- If you wish to apply a reserve figure for any of your items this must be listed on the form (see T’s & C’s for discretionary leeway afforded).
- If you do not stipulate a reserve, we will apply a reserve figure which is usually the bottom estimate for the item.
- You will need to complete a Vendors’ Payment Form in order that we have your bank details against which to make payments due.
- Once we have valued, described and catalogued the item(s) you will be sent a Vendors Report (by Lisa) for you to check and approve.
- Items are stored in our dedicated secure, heated facility and are insured to bottom estimate value whilst on our premises.
- Items are submitted into the agreed sale.
- Following the sale you will receive a Vendors Sold Items Report.
- Once all monies due the BMFA (by purchasers) are paid, you will receive your payment directly to your bank account using the details provided on the Vendors Payment Form. Payment is the sum of all items sold minus all commission and Lotting fees (and transport costs if applicable). Payment is usually made within 14 days of the sale date.
- You will be contacted regarding any unsold items to discuss how these can be dealt with, usually the options are – re-submit to a future sale – return items to vendor (at vendors cost) – offer items for sale through a swapmeet – donate items to the National Centre to raise funds.
The BMFA undertakes to advertise each sale through the most appropriate channels, this in general terms includes all or some of the following.
- BMFA National Centre website.
- BMFA Main website.
- BMFA News – members magazine.
- Direct Email to all BMFA members – usually as part of a general information Email.
- Direct Email targeted to all previous auction registrants.
- BMFA Social Media outlets.
- External Social Media – appropriate linked and specialist groups.
- External magazine adverts.
- Email notification to international Model Flying Governing Bodies for distribution to their own membership.
MW Jan 26 V1
0116 2441091
07778 287350