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Can you give me some advice on becoming a trader in order to buy at auctions?
I live in Cornwall, so cars here are expensive. My nearest professional auction houses are in Bristol. I want to know what I need to do to become a trader, so I can register with these auctioneers who have online bidding but I have to be a registered trader. It's just not worth me travelling to Brum or Bristol every week for one car. They are a good £2,000 cheaper than I can get in Cornwall.
Asked on 22 March 2012 by Guy C
Answered by
Honest John
Get trade insurance. Start a business with a business name. Register for VAT. Guarantee to keep at least £10,000 in a current bank account. Then you can probably register with BCA. You won't be able to get a Trade Licence (trade plates) until you can prove from your books you have been trading for some time, and you will need to be able to store cars off road.
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