New Market House
Meadow Lane

0115 986 8550

Terms & Conditions of Business

Terms & Conditions of Sale applicable to Vendors

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

Standard Selling Commission is 20% 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 The minimum charge whether sold, not sold or withdrawn is £2.50 plus VAT per lot.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 20%.

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

Terms & Conditions of Sale applicable to Buyers

1. Interpretation
1.1 "Auctioneers" means Tim Davidson Auctions
1.2 "Catalogue" means the brochure relating to a sale (including any addendums
1.3 "Conditions" means these terms and conditions of sale
1.4 "Hammer Price" means the price at which a lot is knocked down by the Auctioneers to the Purchaser
1.5 "Purchaser" means the person who purchases a lot or lots pursuant to these
1.6 "Seller" means the person who is selling the lot or lots pursuant to these Conditions
1.7 "VAT" means Value Added Tax

2. Bidding
2.1 The highest bidder for each lot shall be the Purchaser of that lot
2.2 No person shall be entitled to retract a bid. The Auctioneers reserve the right of refusing any bid without giving any reason and of altering, adding to, dividing consolidating or withdrawing any lot or lots for sale
2.3 The Auctioneers reserve the right to fix a reserve price for any lot
2.4 The Auctioneers reserve the right to bid on behalf of the Seller on lots which subject to a reserve price. The Seller shall not be entitled to bid where the Auctioneers have reserved such a right
2.5 In the case of a dispute as to any bid the Auctioneers may immediately determine the dispute or put up the lot again at the last undisputed bid or withdraw the lot
2.6 The Auctioneers will accept written commission bids free of charge from any person who is unable to attend the sale. Bids will also be accepted by telephone and fax at the sender's risk.

3. Payment
3.1 Each Purchaser shall give in his name and address and proof of identity (if required) to the Auctioneers at a sale, and shall if required, pay such deposit as the Auctioneers may specify.
3.2 The Purchaser shall pay the Hammer Price together with a premium of 20% on the Hammer Price (this premium is subject to VAT which is not shown separately or claimed as input tax). By the making of any bid the Purchaser acknowledges that his attention has been drawn to this fact and that he assents to the Auctioneers receiving the said commission. A 20% premium will be payable by Purchasers outside the EU. Zero-rated goods such as books will be subject to a premium of 20% whether within or outside the EU, unless entered by a VAT registered Seller.
3.3 Items marked with an asterisk in the Catalogue after the lot number and before the description will be subject to VAT on the Hammer Price (not chargeable to Purchasers outside of the EU).
3.4 Payment for lots must be made in cash, bankers draft or cheque guaranteed by the bank upon which it is drawn. Lots will not be released against cheques from purchasers unknown to the Auctioneers until cleared by such Purchaser's bank. Payment is accepted by Visa and Mastercard.
3.5 No lots will be released by the Auctioneers until receipt of payment in full from the Purchaser

4. Risk
4.1 All lots shall be at the sole risk of the Purchaser from the fall of the hammer.
4.2 The Purchaser shall take all lots in the condition in which he finds them. It is the responsibility of all intending Purchasers to satisfy themselves by inspection or otherwise as the the authenticity in the authorship, date, age, period, condition or quality of any lot.

5. Liability
5.1 Neither the Seller of any lot nor the Auctioneers make or give nor has any person in the employment of the Auctioneers any authority to make or give any representation or warranty in relation to any lot and any implied conditions or warranties are excluded.
5.2 All statements contained in the Catalogue as to the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lots are statements of opinion only and are not to be taken as or implying statements or representations of fact. Lots are sold subject to all faults and errors in descriptions or otherwise.
5.3 Notwithstanding the provisions of paragraphs 5.1 and 5.2 of these Conditions in the event of a dispute as to the authenticity of any lot(s) the item or items in question should be returned to the Auctioneers within 21 days of receipt by the Purchaser of such lot(s) together with a formal statement by a recognised expert. The Auctioneers shall at their option and without admission of liability reimburse the price paid by the Purchaser in respect of such lot(s). This does not constitute an approval service.
5.4 Neither the Auctioneers nor the Seller shall be responsible for any loss, damage or injury occasioned to or sustained by any person on the premises before, during or after a sale save in respect of death or personal injury caused by negligence of the Seller or the Auctioneers.

6. Capacity of Auctioneers
For all purposes of the sale the Auctioneers shall be deemed to be the agent of both the Seller and the Purchaser and they shall not be considered responsible for any default on the part of either the Seller or Purchaser

7. Delivery
7.1 Lots will only be released once payment in full has been received from the Purchaser.
7.2 Lots will be dispatched (upon receipts of payment) by Datapost, Special Delivery, Insured or airmail post and bulky or expensive consignments will be sent via a professional freight company unless written instructions to the contrary are received at the sole cost and risk of the Purchaser.
7.3 Postage is subject to VAT within the EU.
7.4 The Auctioneers will provide full customs declarations on the Hammer Price plus the Purchaser's premium and Purchasers shall be responsible for any customs charges made by the country of import.
7.5 A packing charge will be made on each consignment which is subject to VAT within the EU.

8. Auctioneers Remedies
In the event that the Purchaser fails to pay for any lot(s) in full pursuant to these conditions then the Auctioneers shall be entitled:
8.1 to rescind the sale of the relevant lot(s) 8.2 to resell the lot(s) without further notice either by public or private sale and the deficiency (if any) arising from such second sale together with all charges and expenses relating to the same shall be the responsibility of the defaulting Purchaser and shall be recoverable as and for liquidated damages.

9. Jurisdiction
These Conditions shall be governed by English law and the parties submit to the exclusive jurisdiction of the English courts.

10. Online Bidding
Tim Davidson (Auctions) Ltd offer an online bidding service via for bidders who cannot attend the sale. In completing the bidder registration on and providing your credit card details and unless alternative arrangements are agreed with Tim Davidson (Auctions) Ltd you:
1. authorise Tim Davidson (Auctions) Ltd, if they so wish, to charge the credit card given in part or full payment, including all fees, for items successfully purchased in the auction via and
2. confirm that you are authorised to provide these credit card details to Tim Davidson (Auctions) Ltd through and agree that Tim Davidson (Auctions) Ltd are entitled to ship the goods to the chard holder name and card holder address provided in fulfillment of the sale.

Please note that any lots purchased via live auction service will be subject to an additional 5% commission charge plus VAT at the rate imposed on the hammer price

VAT Registration No. 990 1783 93