Spring Sale of Objects of Vertu

The following are the Terms upon which Authenticated Internet Auctions (?AIA?) auctions a lot (?the Lot?) on its website at http://www.authenticatedinternetauctions.com or any subsequent URL used by AIA from time to time (?the website?): AIA?s Role AIA act as auctioneers of the Lot for the seller of the Lot (?the Seller?). At the time of the auction, the Lot will not be in the possession of AIA, as it is the responsibility of the Seller to retain the Lot until the Lot is delivered to the successful buyer. Save for carrying out the 360 degree photography of the Lot, AIA?s knowledge in relation to the Lot is dependent upon information provided to it by the Seller. The contract for the sale of the Lot is made between you and the Seller for whom AIA acts as agent only. The obligations to you arising under the Contract for sale to you are therefore the Seller?s obligations and not AIA?s obligations. AIA reserves the right to change these Terms and Conditions at any time. Amendments will take effect when posted on the website. The date of the Terms and Conditions are stated at the top of the Terms and Conditions. However, the Terms and Conditions current at the start of a transaction will apply until that transaction is completed. AIA reserves the right to modify or withdraw the website (or any part) at any time without notice. The Lots AIA uses 360 degree photography to display a Lot from multiple angles on the website. AIA warrants that the photographs of the Lot on the website or in the catalogue have not been airbrushed or altered in any way. AIA warrants for a period of five years from the date of the sale of the Lot that if the Lot is stated without qualification to be the lot of a named author that the Lot is authentic and not a forgery. This warranty is subject to the following provisos: The warranty does not apply where: a scientific process not generally accepted for use until after the publication of the Lot on the website or catalogue; or a process which at the date of the publishing of the Lot on the website or catalogue was unreasonably expensive or impractical or likely to have caused damage to the Lot or reduce the value of the Lot is the only means of demonstrating the correct identification of the Lot. The warranty does not apply where the description of the Lot on the website or catalogue corresponded to the generally accepted opinion of scholars or experts at the date of the sale or the description fairly indicated that there was a conflict of opinions. The benefits of the warranty are not assignable and shall apply only to the original buyer of the Lot and the original buyer must have remained the owner of the Lot without disposing of any interest in it to a third party. The Buyer?s sole and exclusive remedy against AIA and the Seller shall be the cancellation of the sale and the refund of the Sale Price paid. AIA and the Seller shall not be liable for any indirect or consequential losses. The Buyer must give written notice of the claim to AIA within five years of the date of the auction. AIA shall have the right to require the buyer to obtain the written opinions of two recognised experts in the field mutually acceptable to AIA and the Buyer, before AIA decides whether or not to cancel the sale under the warranty. The Buyer must return the Lot to AIA in the same condition as at the time of the sale. Save for the warranties set out in clauses 6 and 7 above, the Seller takes sole responsibility for any faults or defects in the Lot and for anything stated on the website in relation to the Lot including but not limited to any description of the Lot, its condition, ownership or authenticity. The Lot is sold subject to the condition report for the Lot and subject to all reservations contained therein. You acknowledge that the Lot may not be in perfect condition and that no promise is made that the Lot is fit for any particular purpose. The Auction AIA will accept bids from online bidders through the website, from telephone bidders or by absentee written bids in accordance with the terms set out below. Online bids for the Lot shall be submitted by commission bid through the website using Live Auctioneers bidding platform in accordance with Live Auctioneers terms and conditions (or through such other bidding platform as AIA decides from time to time). Telephone bids are to be confirmed by the bidder with AIA?s bid department at least 24 hours before the auction on +44 (0)207 137 663. Telephone bids may be recorded and by bidding on the telephone you consent to our recording the conversation. Absentee bid forms are available on our website and in the catalogue. You shall submit absentee bid forms to AIA at least 24 hours before the auction, although AIA retains a discretion to accept absentee bids at a later time prior to the auction. If AIA receives more than one absentee bid for a Lot for identical amounts which are the highest bids at the auction, the Lot will be sold to the person whose bid was received and accepted first. AIA have sole and absolute discretion to determine whether any bid has been received, and the time at which any such bid has been received. AIA?s decision is final and binding in relation to such matters. AIA reserves the right to reject any bid and may require the production of bank details from which payment will be made or other financial references. The Lot may be subject to a reserve which shall be no higher than the lower pre-estimate of the Lot. A sale of the Lot shall not take place if the highest bid is lower than the reserve. AIA is authorised to bid for the Lot on behalf of the Seller up to the amount of the reserve. In accordance with common auction practice bids placed on behalf of the seller will not be identified. Provided that the reserve is met (and subject always to clause 14 hereof), the first highest bidder for the Lot shall be the Buyer of the Lot (?the Buyer?) and that first highest bid shall be the Sale Price. AIA shall notify the first highest bidder that he is the Buyer of the Lot as soon as reasonably practicable after the auction period ends. For higher value lots AIA may, at our discretion, also ask you to provide a bank reference and/or deposit. Preservation of the Integrity of AIA For the purposes of the preservation of its integrity, AIA reserves the right to withdraw any Lot from its website, the catalogue and/or the auction/bidding process at any time entirely at its sole discretion. Payment Within 10 days of AIA emailing or otherwise sending an invoice to the Buyer, the Buyer shall pay to AIA in pounds sterling: the Sale Price; and the Buyer?s Premium due to AIA which is calculated at 18% of the Hammer Price on absentee or telephone bids and 21% on Internet bids plus any applicable VAT; and if the Artist?s Resale Right Regulations 2006 apply to the Lot, the Buyer also agrees to pay an amount equal to the resale royalty provided for in those Regulations. Payments may be made by Bank transfer, personal cheque?s (which must be cleared before goods are released), Debit cards: no charge Credit Cards: Visa and Mastercard: +2% Commercial cards: +2.5% Wire Transfers should be sent to : Authenticated Internet Auctions National Westminster Bank St James and Piccadilly Branch PO Box 2DG 208 Piccadilly London W1A 2DG Account number: 21566879 Sort code: 56 00 03 IBAN: GB29NWBK56000321566879 BIC/SWIFT: NWBKGB2L If the Buyer fails to pay to AIA any sums when due AIA has discretion to exercise the following rights: AIA has the right to cancel the sale of the Lot. AIA has absolute discretion to sell the Lot without reserve by auction or privately on giving to the Buyer one month?s written notice. If a lower price is obtained upon such re-sale than was obtained on the first sale, the Buyer shall make good the difference in price and the expenses of re-sale which shall become a debt due from him. AIA may charge interest at 5% per annum above the Bank of England?s base rate from time to time on the outstanding sums to be calculated on a daily basis from the date when the monies became payable until the date of actual payment. AIA may release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover all sums properly due The Buyer shall indemnify AIA against all legal and other costs, all losses and all other expenses (whether or not court proceedings have been issued) incurred as a result of AIA taking steps under this clause 20 on a full indemnity basis. To exclude the Buyer from engaging in any further business with AIA. Title and Risk Title to a Lot shall pass to the Buyer once the Buyer has made payment in full in accordance with clause 19 hereof. Risk in the Lot shall pass from the Seller to the Buyer at the earlier of delivery of the Lot to the Buyer and 14 days after the end of the auction. Delivery of the Lot When the auction has been concluded and payment has been made in accordance with clause 19 hereof, AIA shall liaise with the Buyer and the Seller to organise delivery of the Lot to the Buyer. The Buyer shall be responsible for the packing, handling and transport costs of the delivery of the Lot to the Buyer. It is the Buyer?s sole responsibility to obtain any necessary export, import, or other permit for the Lot and to complete any required export or import documentation. AIA makes no representations on these matters. Copyright The copyright in all images and written material produced by or for AIA relating to a Lot shall remain at all times the property of AIA and shall not be used by the Buyer nor by anyone else without AIA?s prior written consent. AIA and the Seller make no representation or warranty that the buyer of a Lot will acquire any copyright or other reproduction rights in it. Limitation of Liability AIA is not liable for any errors or omissions in information provided at any time by the Seller to AIA and thereafter by AIA to the Buyer, or at all whether made orally, by conduct or in writing, and whether negligent or otherwise. Any claim against AIA is limited to the Sale Price of the relevant Lot. AIA shall not be liable for any indirect or consequential losses. In any contract arising consequent upon dealings with this website, none of the Terms of such contract is enforceable pursuant to the Contracts (Rights of Third Parties) Act 1999 by any person who is not a party to such contract. If any of the provisions of these Terms and Conditions are declared by law or judged by a court to be unlawful, void or unenforceable, the provision shall, to the extent required, be severed from these Terms and Conditions and rendered ineffective as far as possible without modifying the remaining provisions of these Terms and Conditions, and shall not in any way affect the validity or enforcement of these Terms and Conditions. Whenever and to the extent that any provisions of these Terms and Conditions would or might contravene the provisions of any relevant legislation such provision is to take effect only insofar as it may do so without contravening such legislation where such provision is incapable of having any effect without contravening such legislation these Terms and Conditions are to be construed and interpreted as if such provision was deleted. The legality, validity and enforceability of any of the remaining provisions of these Terms and Conditions are not in any way to be affected or impaired as a result. Nothing in these Terms and Conditions shall exclude or limit any claim against AIA in respect of any fraudulent misrepresentation made by AIA, or in respect of death or personal injury caused by the negligent acts or omissions of AIA. Dispute Resolution If any dispute arises respecting a bid, AIA has sole and absolute discretion to determine the dispute, which may include the right, at the Seller?s option, for the Lot to be put up again for auction at the last undisputed bid, or to be withdrawn. Jurisdiction These Terms and Conditions will be construed in accordance with English law and the parties submit to the exclusive jurisdiction of the English Courts provided that the submission by the parties to such jurisdiction shall not limit the right of AIA to commence any proceedings arising out of these Terms and Conditions in any other jurisdiction it may consider appropriate. Refund Policy Authenticated Internet Auctions act as agents. Any refunds are at the discretion of the seller. Addition of Terms and Conditions of Sale It is important that you read and understand these terms and conditions before proceeding with this transaction. Only proceed with this transaction if you wish to be bound by the terms and conditions set out below (the ?Terms?). 1 Purpose and effect 1.1 These Terms set out all the terms of agreement other than price between you as buyer and us as seller, in relation to the sale and purchase of the item(s) identified in the invoice overleaf, which we refer to below as the ?Work? (the ?Contract?). We confirm that we either own the Work or are authorised to sell it on behalf of the owner. 1.2 If you wish to rely on any variation of, or addition to these Terms, you must ensure that the variation or addition has been agreed by us in writing. 2 Statements about the Work 2.1 All statements by us as to the authenticity, attribution, description, date, age, provenance, value, historical significance, title or condition of the Work constitute our judgement and opinion only (save that this shall not operate so as to exclude any liability on our part for misrepresentation) and are not warranted by us. 2.2 Our description of the Work is partly dependent upon information provided by experts and we are not liable for the statements, data, information and opinions of others or any changes in expert opinion which may take place subsequent to the sale. 2.3 While we will on request explain the condition of the Work at the time of the sale and provide any information in our possession about condition for which you may reasonably ask, we will not be responsible for any subsequent deterioration of the Work, however caused, after the sale. 3 Payment of purchase price 3.1 You must pay us the full price for the Work (without deductions), together with delivery costs, any VAT and any amounts payable to us under clause 6 below but excluding any deposit or advance that you may already have paid (the ?Price?), on the earlier of: (a) the expiry of any payment term as shown on the invoice; and (b) the time of delivery of the Work. Payment is only made once we receive cleared funds representing the full amount. 3.2 Payment may be made by wire transfer, cash (subject to any thresholds we may set) or credit card, as agreed and set out in the invoice. Where we agree to payment by cheque, acceptance is conditional upon the cheque being cleared in full on first presentation. 3.3 All payments shall be made in the currency specified in the invoice. 3.4 If you fail to make full payment within the relevant period, we shall charge you interest on the amount unpaid at the rate of 4% per annum above Barclay?s Bank base rate from the date when payment was due until payment is made in full. 4 Collection of the Work and passing of risk 4.1 You must collect the Work from the address specified in the invoice at the agreed date and time, within 28 days of the date of payment, unless it is agreed in writing that: 4.1.1 we should deliver it to you; or 4.1.2 you should make your own arrangements for someone else to collect it for you. 4.2 Risk of loss and damage to the Work shall pass to you on the earlier of: (a) delivery of the Work to you; and (b) payment of the Price shown on the invoice. From the point at which risk passes to you, you are responsible for insuring the Work against all risks, including shipping. 5 Passing of ownership 5.1 Full legal title to the Work will not pass to you until we have received in full in cleared funds all sums due in respect of the Work. 5.2 If you have possession of the Work before full payment has been made, you must: 5.2.1 keep possession of it, not sell it or hand it over to any other person or dispose of any interest in it; 5.2.2 in the case of a Work consisting of more than one item, keep those items together; 5.2.3 keep any identifying marks showing that we own the Work clearly displayed; 5.2.4 store the Work on your premises and at no cost to us, separately from other property; 5.2.5 at our request, and after we have given you reasonable notice, allow us or a third party acting on our behalf to have access to the Work in order to inspect it; and 5.2.6 preserve the Work in the same state as it was on delivery and in particular, not restore, repair, clean or reframe it without our written consent. 6 Export 6.1 If the Work is to be exported from the United Kingdom, whether to other countries within the European Union or outside the European Union, it will be your responsibility to obtain the relevant export licence. 6.2 When making arrangements for export of the Work, you must: 6.2.1 comply with all requirements of any relevant tax authorities (including, if applicable, HM Revenue and Customs), any export licensing authorities and any other relevant official bodies; and 6.2.2 reimburse to us any sum claimed if HM Revenue and Customs, any relevant tax authorities or any other official body makes any claim against us for VAT, sales tax, use tax or any other expense or penalties resulting from your failure to comply with the relevant requirements for export and import. 6.3 When on its sale to you the Work is intended for export, you will be charged for VAT on the Work should it not be exported. 6.4 In any event you will be responsible for paying any taxes including but not limited to import tax, duty, merchandise, sales or user tax that have to be paid in the country of destination whether on shipment or on import or at any other time. 6.5 Unless otherwise agreed in writing, the sale of the Work is not dependent on either us or you obtaining an export licence and failure or delay in obtaining a licence will not constitute a basis to cancel a purchase or delay payment for it. 7 Breach by the buyer 7.1 If you fail to pay the Price in full (or if we agree with you payment by set instalments and you fail to pay any one or more instalment) by the due date, or if prior to you paying the Price in full you fail to comply with the obligations set out in clauses 5 and 6 above, or otherwise do or fail to do anything which may in any way imperil our ownership of the Work or the Work itself, we are entitled (without prejudice to our other rights and remedies at law) to either: 7.1.1 terminate the Contract, repossess the Work and claim damages for any loss we have suffered; or 7.1.2 at our election, treat the sale as cancelled, and repossess the Work, in which case (and only in which case) we shall following the safe return of the Work, refund to you any part of the Price you have paid, after deduction of any sums due to us including but not limited to costs of recovery and restoration of the Work. 7.2 We shall also have the right to repossess the Work and cancel the sale if before you make full payment of the Price to us, proceedings occur in the UK or elsewhere involving your solvency (including but not limited to the presentation of a bankruptcy petition or winding-up petition; or the convening of a meeting to wind you up voluntarily). 7.3 Where we notify you of the exercise of our right to repossession, you will within 7 days of such notice, return the Work to our address (as set out in the invoice) at your cost and risk or tell us where the Work is kept and allow us to enter the premises where the Work is (separately) kept and take the Work away at your cost (it being understood that where the Work consists of more than one item, our rights of repossession extend to all such items). 8 Limitation of our liability We shall not be liable for loss of profits (whether direct or indirect), loss of business, loss of anticipated savings or for any special, indirect, incidental or consequential loss or damage, if any and to the fullest extent permitted by law, which you may suffer in connection with buying the Work. Any liability to you for breach of our obligations whether in contract, tort (including negligence), breach of statutory duty or otherwise, shall be limited to the Price paid for the Work (excluding any delivery costs and VAT) provided that nothing in this clause 8 limits or excludes our liability for: (a) death or personal injury caused by our negligence or any of our agents; and/or (b) fraud. 9 Rescission We will have the right, but not the obligation, (acting reasonably) to rescind a sale without notice to you, where an adverse claim is made by a third party, including but not limited to, someone claiming ownership of the Work. Upon notice of our election to rescind the sale, you will promptly return the Work to us. We will then refund the Price. The refund of the Price will constitute your sole remedy and recourse against us with respect to such claims. 10 Copyright The copyright subsisting in all images and other materials produced for the sale of the Work is owned by us and such images and materials may only be used with our permission. We will have the right to use such images in our own discretion after the sale of the Work. During the period in which the Work is protected by copyright, the copyright remains with its author (or any person to whom that right has been assigned). You are purchasing the Work, but not the right to produce copies of the Work (including photographs thereof) for publication. If such rights are sought, you should contact the copyright owner. 11 Notices Any notice to be given to us or that we must give to you in connection with the sale of the Work must be in writing and must be sent by post, or delivered by hand, to our address or to your last known address as set out in the invoice or as notified to us by you as the case may be. 12 Consumer Protection 12.1 This clause applies only where you are deemed to be a consumer for the purposes of the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013. 12.2 In the event that our Contract is concluded ?offpremises? or through distance communication you have the right to cancel the Contract within 14 days from the day on which you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the Work. Where the Work consists of more than one item (which are to be delivered separately), such cancellation period will expire after 14 days from acquiring physical possession of the last item (the ?Cancellation Period?). To exercise your right to cancel, you must inform us of your decision to cancel by a clear statement (by post, fax or email) sent prior to the expiration of the Cancellation Period. You may use the model cancellation form provided. Please see our ?Instructions for cancellation of a distance or off-premises contract? document for more information. 13 Law and jurisdiction 13.1 These terms and conditions and any non-contractual obligations arising from or in connection with them shall in all respects be construed and take effect in accordance with English law. 13.2 The courts of England and Wales will have nonexclusive jurisdiction in relation to any dispute: (a) arising from or in connection with these Terms; or (b) relating to any non-contractual obligations arising from or in connection with these terms and conditions. By registering with Authenticated Internet Auctions, via any format, to take part in any Auctions, you agree to these Terms & Conditions. Authenticated Internet Auctions reserves the right to amend these Terms and Conditions, without prior notice, at any time.