Contingencies	3 Months Ended
Mar. 31, 2022
Contingencies
Contingencies	23. Contingencies Legal and other claims The Company is subject to legal and other claims that arise in the ordinary course of its business. Management does not believe that the results of these claims will have a material effect on the Company’s consolidated balance sheet or consolidated income statement. Guarantee contracts In the normal course of business, the Company will in certain situations guarantee to a consignor a minimum level of proceeds in connection with the sale at auction of that consignor’s equipment. At March 31, 2022, there were $70,163,000 of assets guaranteed under contract, of which 94% is expected to be sold prior to June 30, 2022, with the remainder to be sold by December 31, 2022 (December 31, 2021: $43,450,000 of which 61% was expected to be sold prior to the end of March 31, 2022 with the remainder to be sold by December 31, 2022). The outstanding guarantee amounts are undiscounted and before estimated proceeds from sale at auction.

Contingencies

3 Months Ended

Mar. 31, 2022

23. Contingencies

Legal and other claims

The Company is subject to legal and other claims that arise in the ordinary course of its business. Management does not believe that the results of these claims will have a material effect on the Company’s consolidated balance sheet or consolidated income statement.

Guarantee contracts

In the normal course of business, the Company will in certain situations guarantee to a consignor a minimum level of proceeds in connection with the sale at auction of that consignor’s equipment.

At March 31, 2022, there were $70,163,000 of assets guaranteed under contract, of which 94% is expected to be sold prior to June 30, 2022, with the remainder to be sold by December 31, 2022 (December 31, 2021: $43,450,000 of which 61% was expected to be sold prior to the end of March 31, 2022 with the remainder to be sold by December 31, 2022).

The outstanding guarantee amounts are undiscounted and before estimated proceeds from sale at auction.