The Committee of Advertising Practice (CAP) has issued guidance providing clarity on how auction houses should present mandatory fees and charges when referring to guide prices.
It's essential that all NAVA Propertymark members read the guidance thoroughly and address any concerns or questions to the CAP copy advice team.
The guidance covers:
- How should non-optional fees be displayed
- Do fees need to be VAT inclusive?
- Fees calculable in advance
- Fees not calculable in advance
- Minimum fees
- VAT on lots
- What information you need to provide to consumers
- Fees subsequently levied by vendors
Read the online CAP guidance