Buying and Selling

Payment

Paying your bill

Invoices are sent after the auction is completed and can conveniently be settled from your Capsule account dashboard.

Invoices reflect the total due for all your lots won from each auction. The invoice total comprises three essential components: the hammer price, the buyer's premium, and when applicable, sales tax. 

We are here to assist you at every stage. If you have any questions or concerns about the payment process, please don't hesitate to contact our friendly team. We want to make sure your experience with Capsule is as smooth and enjoyable as possible.

Thank you for choosing us for your purchase, we look forward to providing you with exceptional service.


Your Invoice

Hammer Price

The hammer price is the winning bid amount for each lot. It is the price at which the auctioneer concludes the bidding by bringing down the gavel (hammer). The invoice total is calculated by applying the hammer price, the buyer’s premium, and applicable taxes.

Buyer's Premium

The buyer's premium is a fee charged in addition to the hammer price or the winning bid. It is charged on all lots. Bids placed in person, by phone, or submitted directly to Capsule Auctions are subject to a 28% buyer's premium. Bids placed on other platforms are subject to a buyer’s premium of 33%. The buyer’s premium is charged in addition to all other applicable taxes and fees.

Sales Tax

The sales tax rate in New York City is 8.875 percent. This tax is applicable to all purchases unless the purchaser qualifies as tax-exempt and has submitted the necessary forms, such as the ST-120.

If you're planning to ship and use your purchase out of state, please be aware that, depending on the regulations of your destination, your purchase may be subject to local taxes in lieu of New York taxes, 

Sales tax is not due for items that ship outside of the country, however, a VAT may be due. Capsule does not collect or calculate VAT for items that are shipped internationally.

To navigate VAT, it's advisable to consult the customs and tax authorities of the destination country, as well as any relevant international trade agreements or conventions that may apply. 

Additional Fees

Your invoice is payable when issued. The payment period is three (3) days after the sale. Contact us if you have not received your invoice. Late payments may be subject to interest and/or administrative fees.

We kindly request that you collect your purchased property within seven (7) days from the date of the sale. Storage fees may begin accruing on the 10th day after the sale date. 

If your payment or pick-up is delayed for any reason please let us know as promptly as possible.

We appreciate your understanding and cooperation in these matters.


Payment Methods

We hope you're excited about your purchase from Capsule Gallery. Here is some important information regarding the payment process.

We request that you settle your invoice in full within three (3) days of the date of sale. You can do this via wire transfer, e-check, or any other acceptable single payment method.

Your capsule invoice cannot be reassigned or configured into multiple invoices. Only one method of payment may be applied to each invoice.

Wire Transfer

For your convenience, we accept wire payments. Wire transfer is the most secure and fastest method of payment available.

When paying by wire, we ask our customers to pay the full invoice in US funds.

*Please note: any fees that your financial institution may impose are not to be deducted from the invoice total.

eCheck (ACH)

eCheck (ACH) payments are accepted on all purchases. For security and anti-fraud purposes, eCheck payments may require up to 5 days to clear and for property to be released. This electronic movement of funds is more efficient and more secure than paper checks.

eChecks are processed by the ACH (Automated Clearing House) network, the system used for electronic funds transfers within the United States. ACH network is the same system employed to process paper checks. 

Check

Capsule accepts checks in US Funds that are drawn from a US Bank, Checks that are from established customers, cashier's checks, and bank checks are preferred. For other checks, Capsule may need to hold the property until the funds have cleared.

If mailing a check, please inform us as soon as it is sent.

Make checks payable to:

Capsule Gallery Inc.
508 West 26th Street, Suite 4G
New York, NY 10001

Credit Card

If your invoice total is less than $1,500, you can pay with an acceptable credit card. Credit card payment is not an option for invoices over $1,500 or for jewelry, gold, and silver lots, no matter the invoice amount.

Cash

Payment in US currency is accepted for invoices up to $2500. 


Tax Exemption

To defer sales tax with your resale information, please send us a ST-120. You can download it here: ST-120 form. Fill it out, sign it, and email it to admin@capsuleauctions.com so we can update your invoice.


FAQ

I qualify for tax exemption. Can you take tax off of my invoice?

If you have resale information that can be used to defer sales tax, please submit an ST-120 for us to keep on file. You can download it here: ST-120 form. Please fill out, sign, and send to admin@capsuleauctions.com so we may adjust your invoice accordingly. 

I won something. Where is my invoice?

Invoices are sent by the end of the day for each sale. Please check your spam folder if you do not see it in your inbox.