1. The Auctioneers' Conditions of Sale are on display in the Auction Rooms and printed in each catalogue. Vendors are considered to have had notice of these and to have agreed acceptance of the same when requesting the entry of goods for sale in this application.
2. Upon receipt of a completed Entry Form, the Vendor will be notified of the appropriate auction date(s) with delivery instructions (where applicable). Subsequently altered instructions are at the Vendor's risk unless confirmed in writing.
3. The Auctioneers reserve the right to catalogue goods as they see fit, determine in which sale these shall be included (ie General or Specialist) and refuse anyu lots considered to be unsaleable or of negligible value. They shall not be held responsible for any expenses or loss incurred thereby, or for the postponement or cancellation of sales, for whatever cause.
4. The Auctioneers ac`t as agents only and do not hold themselves responsible for any default on the part of Vendors or Purchasers. Furthermore, the Auctioneers give notice that they are not liable for faults or imperfections found with any lot for any errors of description made by the Vendor themselves or persons in their employment but draw special attention to the Misrepresentation Act which reduces the protection normally given by the customary "Caveat Emptor" clause in Conditions of Sale which in some circumstances make a Vendor liable to a Purchaser in respect of disputed catalogue descriptions (even when made in good faith and innocently).
5. The Vendor shall indemnify the Auctioneers against any claims in connection with goods sold on the Vendor's instructions.
6. Unless otherwise instructed, in writing, all goods on the Auctioneers' premises and in their custody, will be held insured against the risks of fire, burglary and water damage (but not accidental damage or breakage). The value of goods so covered shall be the gross amount realised or in the case of unsold lots, the best bid made or the reserve price when the latter has been fixed. Unreserved goods withdrawn prior to or awaiting sale shall be valued by the Auctioneers at their absolute discretion as their estimate of Auction value.
7. Vendor's commission is charged on the hammer price at the rate of 15%. This includes insurance premiums and advertising charges but excludes removals, photography and testing.
VAT (as applicable) will be levied on all fees, charges and expenses at the prevailing rate. |
8. Payment (without interest) will usually be made to the Vendor within 14 days of the sale date, after the deduction of premium, commission, VAT and expenses where applicable); but the Auctioneers shall not be liable for payment to the Vendor until they themselves receive full payment from the Purchaser.
9. Notwithstanding any other of these Terms and Conditions of Engagement, if within 7 days of the sale of any lot the Purchaser gives written notice to the Auctioneers that in this opinion it is a deliberate forgery, as defined below, and within 14 days of such notice, returns the lot to the Auctioneers, in the same condition as it was at the time of sale and by producing evidence (the burden of proof being on the Purchaser) satisfies the Auctioneers that the lot is a deliberate forgery; then the Auctioneers will rescind the sale and refund the purchase price received by them (this benefit is not assignable). The Vendor will also be bound by this condition. N.B. In the context of this guarantee "a deliberate forgery" means a lot made with the intention to deceive when considered in the light of the catalogue entry and which at the date of sale had a value substantially less than it would have had, had it been in accordance with the description. However, there will be no right where the catalogue description, at the time of sale, was in accordance with the general opinion of experts, or fairly indicated there to be a conflict of opinion. The Auctioneers reserve the right in forming their opinion to consult nd rely upon any expert or authority considered by them to be reliable.
10. Goods withdrawn prior to sale but after cataloguing or valuation. `Bought-in' lots and unsold, reserved goods (where reserves have not been agreed with the Auctioneers) will attract a charge at the rate of 5% of the value based upon reserve prices or valuation provided by the Auctioneers (plus expenses where applicable) which shall be binding upon the Vendor.
11. A Vendor may place reserves on any lots (minimum £20) but unless instructed to the contrary, all lots will be sold without reserve or at the Auctioneers' discretion. Lots failing to reach reserve prices may be sold after the sale at or above the reserves or entered into a subsequent sale(s) with reduced reserves - agreed with the Vendor.
12. Owners of goods remaining at the Auction Rooms, after notice has been given for removal of the same, will be charged £1 per lot per day. Failure to collect items after due notice has been given, may result in goods being sold, without reserve, to cover expenses.
13. A Buyer's Premium of 10% is payable by all Purchasers and is subject to VAT at the prevailing rate.
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