TERMS & CONDITIONS OF SALE APPLICABLE TO VENDORS

No goods will be accepted for sale other than under these Terms and Conditions of Sale

1.Commission

Standard Selling Commission is 16% plus non-reclaimable VAT. The fee for withdrawing a lot prior to the sale is 5% plus non-reclaimable VAT of the reserve (or our estimated value if no reserve had been agreed). The buying-in fee for an unsold lot is 5% plus VAT of the reserve. The minimum charge whether sold, not sold or withdrawn is £2.50 plus VAT per lot.

The sale of items will be under the Auctioneers VAT Margin Scheme and non-refundable VAT is included in the fees. No input tax may be claimed by the purchaser or buyer.

Under this scheme, goods that are zero rated (i.e. books, programmes etc) will accrue commission at 16%. Other charges are also exempt from inclusive VAT.

Vendors outside the E.E.C. are exempt from VAT on all charges.

2. Insurance

The Auctioneer will hold all goods on his premises and in his custody covered against the risk of fire, burglary and water damage (but not against accidental breakage or damage). The value of the goods so covered shall be that which the Auctioneer shall in his absolute discretion estimate to be the auction value of such goods and the Auctioneer shall not be responsible for damages to or the loss, theft or destruction of any goods not so insured. The charge for this service is included in the commission.

3. Instructions and Reserves

All goods delivered to the Auctioneers premises will be deemed to be delivered for sale by auction and will be catalogued and sold accordingly. Reserves given by telephone are accepted at the senders risk and must be confirmed in writing to arrive prior to the Sale, otherwise the Auctioneer will not be responsible for the application of reserves. In the absence of written instructions to the contrary all goods will be offered to sale without reserve at the Auctioneers discretion.

In the absence of any written instructions to the contrary the Auctioneers may sell such goods at a minimum of two thirds of the bottom estimate places upon such goods by the Auctioneers.

In the event that a vendor wishes to change a reserve price prior to a sale shall inform the Auctioneers in writing not less than 48 hours prior to such sale. In the event that the vendor fails to do so then the Auctioneers shall be entitled to withdraw the relevant lot or lots from the sale.

4. Agency and Payment

Payment to the vendor is made 40 days after the Sale. However, the Auctioneer acts throughout as agent only and is not responsible for any default by the buyer. He disclaims liability for paying the vendor until he has received settlement from the purchaser.

5. Value Added Tax

A vendor who sends for sale by auction any chattel which is an asset to his business must disclose to the Auctioneer whether or not he is a registered person for VAT purposes and, if so, his registered number and whether or not he intends to operate the special scheme covering Works of Art etc. This information must be supplied to the Auctioneers on or prior to delivery of the item(s). The sale catalogue should be retained.

6. Third Party Liability

Every person on the Auctioneers premises at any time shall be deemed to be there at his own rick with notice of the condition of the premises and of the method of arranging furniture etc., He shall have no claim against the Auctioneer in respect of any injury he may sustain or any accident which may occur save in respect of death or personal injury cause by negligence of the Auctioneers.

7. Warranty of Title

The Vendor warrants to the Auctioneers that he is the true owner of the goods accepted for sale pursuant to those terms and conditions and is able to transfer goods and marketable title to such goods from any third party claims, liens or encumbrances. The vendor agreed to indemnify the Auctioneers, its servants and agents against any loss or damage suffered by them as a consequence of any breach or alleged reach of the warranty contained in this Clause 7.

8. Misrepresentation

Vendors should note that the Misrepresentation Act 1967 may in certain circumstances render a Vendor liable to a Purchaser in respect of disputed catalogue descriptions even though they have been made innocently and in good faith.

9. Photography

Items illustrated in the catalogue will be charged on an ascending scale from £3.00 + VAT minimum dependent upon size of illustration.