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.

Tags: traders auctions trade insurance

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