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FAQs

How can I get the auction results?
To access this information you need to be registered in our website. After registration, you must click on the tab AUCTIONS, then in PAST AUCTIONS and individually check the results for each Auction.
You can also get the results by calling +351 213 242 980 or contact us online.

During the year how many auctions are held by Palácio do Correio Velho?
In the activity period between September and July, Palácio do Correio Velho holds about ten In-Person Auctions of Antiques, Modern and Contemporary Art.
Regarding Online Auctions, over a year, we can hold an average of 40 Auctions of several Collecting themes.

What are Online Auctions?
These Auctions occur exclusively Online and present a variety of pieces with particularly attractive prices, usually below 500 € and with no reserve price.
These individualize interest categories in a more exclusive way, and among those categories we can highlight Rare Books, Ancient Prints, Medals, Wines, Porcelain, Classic Toys or Collecting.
Online Auctions are perfect for finding a special gift.

What is the Reserve Price of a Lot?
It is the minimum value by which Palácio do Correio Velho is authorized to sell each lot. Usually, the reserve price equals the minimum estimate price.

Which Valuation typologies are available?
Palácio do Correio Velho’s valuations can meet different requirements, such as:
• Estimates for Auction (complementary)
• Assets & Inventory Update
• Insurance
• Estate Inventory and Partitions
• Guarantee for loan purposes

Appraisal and Valuation for sale in auction at Palácio do Correio Velho
If you intend to sell your pieces in an auction at Palácio do Correio Velho you will have to request a valuation of that same pieces. This is free and intends to estimate values for each piece to be subsequently presented in the auction.
If you decide not to put your pieces up for auction, after valuation and before entering into the auction sales agreement, Palácio do Correio Velho will charge the valuation service according to the Valuation Price List below.


Appraisal and Valuation for other purposes
Valuations of pieces which are not intended to be sold in an auction will be subject to charge of a valuation fee according to the Appraisal and Valuation Price List below.

Appraisal and Valuation Fee
Palácio do Correio Velho charges a valuation fee, plus added VAT, for the global value of the valuated pieces. However, that same fee will not be charged in the case of pieces destined to direct sales or auction.

Appraisal and Valuation Price List
Antiques, Modern and Contemporary Art, Jewellery and Books: 2.50% + VAT
Coins: 4.00% + VAT
Collecting and Wine: 5.00% + VAT
Depending on the location of the piece to be valuated, there may be the need to present a quotation for assessors travel and stay.


If you intend to valuate one of your pieces, you can do it as follows:
• By sending pictures of the pieces mentioning dimensions for each piece as well as their origin and other relevant information. Pictures may be sent by electronic mail to mail@pvc.pt. All valuations made by email are subject to further confirmation in presence of the pieces themselves.
• At Palácio do Correio Velho, after making an appointment, by bringing your pieces to Calçada do Combro, 38 A – 1º, Lisbon, for a physical analysis and valuation.
• In the event you do not have the means to bring the pieces to our facilities, you may request the presence of one or more assessors on the location of the pieces, always scheduling this in advance.

Informal Appraisal and Valuation Process

It is a previous free appraisal and valuation which will be made based on some pictures, piece dimensions, origin and other relevant aspects. Palácio do Correio Velho’s specialists will be able to give you an informal previous opinion regarding estimates. This opinion, based on a photographic analysis, has no binding character and may be subject to changes when the pieces are physically assessed.


Formal Appraisal and Valuation Process 
Formal appraisal and valuation involves the elaboration of a written report, with detailed cataloguing, quotation estimates and reserve price for each items.

Cataloguing and Handling Cost
Formal Appraisal and Valuation for auction sale will have a Cataloguing and Handling Cost for pieces with prices above €50, which you can check on the price list in force.

Appraisal and Valuation Costs
Antiques, Modern and Contemporary Art, Jewellery and Books: 2.50% + VAT
Coins: 4.00% + IVA
Collecting and Wines: 5.00% + VAT
Depending on the location of the pieces to be appraised and valuated and on the duration of such appraisal and valuation there may be the need to present a quotation regarding assessors travel and stay.

I intend to know the value of my pieces, but I do not want to sell them at auction. What should I do?
If you need an appraisal and valuation for your pieces, namely for insurance, assets and inventory update or partition purposes, you should schedule a meeting with our experts at our facilities, bringing the pieces you want to be appraised and valuated.Palácio do Correio Velho will elaborate a written report with detailed cataloguing, quotation estimates and reserve price for each item. Formal Appraisal and Valuation has an associated cost that you can check on the price list in force.
Every time you intend to schedule an appraisal and valuation inside or outside Palácio do Correio Velho, you should contact us by calling +351 963 141 151 or by filling in the following form.

I decided to sell at auction. Which appraisal and valuation type will be performed and what are the associated costs?
Palácio do Correio Velho will elaborate a detailed cataloguing and will assign auction estimates to each item. The Formal Appraisal and Valuation for the auction sale will have a Cataloguing and Handling Cost for pieces with prices higher than €50, which you can check on the price list in force.

If, after the appraisal and valuation was already made, I decide that I do not want to put my pieces up for auction. Will I have to pay anything to Palácio do Correio Velho?
In that case you will be charged with the Formal Appraisal and Valuation cost, according to the price list in force.

The pieces I intend to evaluate are difficult to transport and/or are located outside Lisbon. How can you proceed with the Appraisal and Valuation?
In this case, based on some pictures, piece dimensions and other relevant aspects, Palácio do Correio Velho’s specialists can give you a previous informal opinion regarding estimates. This opinion, based on a photographic analysis, has no binding character and may be subject to changes when the pieces are physically appraised and valuated.
We can also travel to the pieces location in order to perform an on-site Appraisal and Valuation. Appraisal and Valuation and travel may be subject to associated costs.

I decided to put the pieces up for auction, but I do not know how to transport them to Palácio do Correio Velho. What should I do?
Palácio do Correio Velho can suggest some companies specialized in transporting works of Art, which will present a quotation for the provision of this services. This could be paid during transport or the amount can be subsequently deducted on your pieces sales price, at the auction.

Which costs are associated with placing my pieces up for auction?
Costs associated with auction sales are simply the charge of a Sales Commission, previously agreed with the client. Added to this commission is the cost regarding piece insurance, at a rate of 1%, as well as the cataloguing and handling cost.
The commission and remaining costs will only be charged after the auction.

I sold my pieces. When will I be paid?
After the sale has been made and its total amount has been liquidated by the buyers, payment to the seller will be made 30 days after the date of the Auction last session.

Which are the advantages of buying at auction?
You can find unique, extraordinary and exclusive objects that you will hardly find anywhere else. From furniture to jewellery, you can discover old and original pieces, many times at lower prices than those in the market.
Each piece was studied and catalogued by Palácio do Correio Velho’s specialists and if, in the future, you are interested in capitalizing your purchase, we will always be available to advise and support you on your sale.

How can I be sure that I am making a good purchase?
Palácio do Correio Velho is rooted on the antiques auction market since 1989. It always had a reputation of trust and unique knowledge. Our specialists master, better than anyone, criteria that determine piece prices and all estimates are made according to these same grounds. Every time there is any doubt, we will be at your service.

How can make an offer for one or more lots?
You can make your bidding offer in person at Palácio do Correio Velho’s Main Office, by telephone, fax, postal mail or email.
Access to telephone bidding implies filling in, signing and submitting the form “Purchase Order / Telephone Bidding” up to 4 hours before the beginning of the auction.
This form is available to be filled in our catalogues, at Palácio do Correio Velho’s Main Office and at our website.

And if I cannot be present at an auction?
The fastest way is to register your offer or request a telephone bidding on our website. As an alternative, you can send the form “Purchase Order / Telephone Bidding”, also printed in all our catalogues. You will simply have to indicate the lot or lots you wish to bid, the maximum amount you are willing to pay, fill in your personal details and send it to our Main Office, by email, fax, postal mail, or hand it in person at the reception desk at our Main Office.
Palácio do Correio Velho will represent you in the auction room at the moment the lots you selected are up for bidding. (we will try to buy the lot for the lowest price possible and will never exceed your limit). Your offer or telephone bidding request must be sent up to 4 hours before the beginning of each auction.
If it is more comfortable, you can also bid using our Online International Platform Invaluable at www.invaluable.com 

I was successful with my bidding and purchased several lots. How do I know how much I am going to pay?
The final amount of your purchase is given by the sum of the hammer price and the buyer’s commission. An invoice with all purchase details will be given or sent to you.

When will I have to pay my purchases and how can I pay them?
Payment must be made up to 5 working days after the auction date.
The purchased lots can be paid by Credit Card, PayPal, ATM, Cheque, and Bank Transfer or with Cash. If you choose bank transfer, you must always place the number of your invoice as a reference along with the following elements:
Beneficiary     Palácio do Correio Velho, SA 
Bank                Millennium bcp
Branch            Amoreiras - Lisboa
BIN                   0033 0000 00233120974 05
IBAN                PT50 0033 0000 00233120974 05
Swift Code      B C O M P T P L

How can I collect the objects I have purchased?
After proper payment of the invoice regarding your purchases, you can collect your pieces at the facilities of Palácio do Correio Velho or request your transporter to collect it for you.
If you wish, Palácio do Correio Velho can suggest some companies specialized in transporting works of Art that will provide that service.

Do I have to pay storage costs for the pieces I have purchased?
After the purchase, and to avoid storage costs, the objects must be collected at the facilities of Palácio do Correio Velho within 8 (eight) working days counting from the Auction date. If the objects are not collected during that period, Palácio do Correio Velho reserves the right to charge the following fees:

Costs Regarding Jewellery, Books, Watches, Silver and Porcelain
Storage up to 8 working days after Auction date | Free
Storage 8 working days after Auction date | €50 + VAT (Handling and Transfer)
Storage per day | €4 + VAT

Costs Regarding Other Objects
Storage up to 8 working days after Auction date | Free
Storage 8 working days after Auction date | €50 + VAT (Handling and Transfer)
Storage per day | €8 + VAT