The ASA, which issued guidance on the inclusion of fees such as buyer’s premium and VAT on auction estimates in December, is continuing its investigation.
Last week the watchdog launched a crackdown on “misleading” auction house advertising, naming six online ‘pay-per-bid’ companies, including MadBid, it said had failed to make clear associated costs and terms and conditions.
The ASA took action after complaints that the firms had been exaggerating potential savings and incorrectly quoting recommended retail prices.