About our new platform
New ‘best-in-class’ internationally marketed auction bidding platform
Technology provided by our strategic partner thesaleroom.com ensures rock solid stability, much reduced ‘bidding latency’ times and super-fast refresh rates.
Mirrored bidding allows auction catalogues to be listed on hotlotz.com and market leading international auction aggregator, thesaleroom.com in parallel. This means that every item we sell in auction can receive from bids clients in Singapore and overseas.
New Hotlotz Marketplace, featuring curated items you can ‘Click & Buy’ instantly at fixed prices
Our new online consignment marketplace specialises in contemporary, vintage & antique furniture, decorative objects, art, antique maps & bonds and much, much more.
It also features exclusive limited-time collaborations with artists and designers.
Enhanced digital consignment tools so that you can manage your account online
Our new ‘My Account’ functionality helps you to manage sales contracts, track bids, access filed receipts and settlement statements and much more. These are just a few ways that we have made working with Hotlotz easier and more secure.
Super zoom technology that allows you to examine items in far more detail
Better than the naked eye, our zoom allows you to scrutinise items in minute detail. This should give you more confidence when placing your bid.
Important changes to our business
100% digital auctions
All Hotlotz auctions are now delivered online. We no longer hold live, in-room auctions. Our saleroom remains open five days a week and we warmly welcome visitors for browsing, bidding and buying.
Relaunching the Hotlotz Apps
Our Apple and Android apps have been disabled. They will be relaunched in Spring 2021. Our new platform is responsive so it will work on phones and tablets but for best results use a computer.
A new closing time for our monthly ‘Home & Décor’ sale
Our popular 'Home & Decor' auctions are held on the first Sunday of every month but from our Sunday 6 December sale bids will start to close from the new published closing time of 6pm.
Standardised ‘Staggered Bidding’ and ‘Auto-Extended Bidding’
Lots will always close in intervals of one minute from an auction’s published closing time. Lots will also have a five minute auto-extended bidding period. This means that if a bid is placed in the final five minutes before a lot closes, the remaining time period will be automatically extended by an additional five minutes, to allow bidders to respond.
Standardised ‘Bidding Increments’
The bidding increments used across all our auctions are as follows:
$0 - $400 in $20s $400 - $1,000 in $50s $1,000 - $2,000 in $100s $2,000 - $5,000 in $200s $5,000 - $10,000 in $500s $10,000 - $100,000 in $1,000s Over $100,000 in $5,000s
Rationalising our ‘Buyer’s Premium’ fee
As of Friday 13 November 2020, a ‘Buyer's Premium’ fee of 24% will apply to all purchases made by auction.
We do not charge any additional fees. Unlike many of our competitors we absorb online commission charges and credit card processing charges.
Introducing an insurance service for sellers
From the moment you deliver your item into our saleroom (or if you are using our shippers, from the moment your item is collected) it is fully insured by Hotlotz for a fee equal to 1.5% of the hammer price.
Phasing out cash and cheques
As of Friday 13 November, unless we have explicitly agreed otherwise, we will not accept cash or cheque payments nor will we pay settlement payments by cash or cheque.
One Tree Planted partnership
As part of commitment to becoming a more sustainable business we will plant a tree on your behalf every time you buy an item of furniture from a Hotlotz auction or from the Marketplace.