I've just had a read through of the Collecting Cars FAQ's for buyers. These state that:

"When you are the highest bidder in a Collecting Cars online auction, and the auction lot has met or exceeded the reserve, we charge you a 6% premium including VAT (minimum of £600, with a cap at £6,000).

When an auction lot sells successfully on the platform, a 6% premium including VAT (£600 minimum and £6,000 maximum) is automatically deducted from the highest bidder’s credit card. This is a fee for using the platform and not a down payment on the auction lot. You are then digitally ‘introduced’ to the seller to complete the transaction. There are NO refunds on the buyer’s premium."

So in other words, I would be charged £600 minimum as a none refundable introducer fee for being introduced to the seller. If the car is not as described, faulty etc etc and the sale does not go through for any reason whatsoever then I would still be out the £600. There's nothing in the Buyers FAQ's to bind the seller to completing the sale either.

I'm really not happy with these terms and conditions so I won't be proceeding. I think a £600 minimum charge is too much, especially when it's paid before even being put in touch with the seller and the sale completed.

A really big thank you anyway, Rich!