Household Auction

[lulu_bucket]

We have to empty a house of its furniture and various bits and bobs such as china, glassware etc as we are selling the house and moving into my house as recently got married. We are thinking of holding an auction in the house to get rid of stuff - advertising it in the two local pubs etc. We are not going to charge anyone a buyer's premium etc or take any commission for selling. If we sell for example a cut glass decanter for say £5 we will just keep the £5. I was going to ask anyone if they wanted to sell the odd item etc then we could do that too - I will be numbering everything in Lots etc. Any problems - can we do this lawfully etc. Thanks

[Buenchico]

It's perfectly lawful to run an auction in the way you suggest. Since you'll be selling your own property (or selling for others on a 'no profit' basis) you won't be running a business, so there's no need to tell the tax man about it. (If you charged a buyer's premium or commission on the sale of other people's goods you'd have to pay income tax on your profits). There is no other relevant legislation to worry about.

If you're a bit of a 'showman,' running an auction (and acting as auctioneer) can be great fun. I've done it for several charities and really enjoyed it. Just make sure that you clearly state when viewing can take place and whether bids can be left by those unable to be present when you put items under the hammer. Also make it clear how quickly purchasers must remove large items from the house. (You probably won't want to get a good sum for a large item of furniture only to be told that the buyer can't get hold of his mate's van, in order to shift it, until the week after next!).

Chris