Specialist Asian Art - 1 Owner Sale

Buyers Terms and Conditions of Sale Definitions In these conditions, Acreman St. Antiques Auction Ltd. ? who act as auctioneers and agents for the vendor ? are called ?The Auctioneers? and the representative of Acreman St. Antiques Auction Ltd conducting the Auction is called ?The Auctioneer?. General Whilst Acreman St. Antiques Auction Ltd. do make every effort to ensure the accuracy of their catalogue and the description of any lot: I. Each lot as set out in the catalogue or as divided or combined with any other lot, or lots, is sold by the vendor with all faults, imperfections and errors of descriptions. II. Acreman St. Antiques Auction Ltd do not accept any responsibility for the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot unless they have been instructed in writing by the vendor so to certify and in such cases the auctioneers do so as agents for the vendor and are not themselves responsible for such claims III. All Statements, whether printed in the catalogue or made orally as to any of the matters set out in b. above are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by Acreman St. Antiques Auction Ltd, unless they have been instructed in writing by the vendor so to certify, and in such cases Acreman St. Antiques Auction Ltd. do so as agents of the vendor and are themselves not responsible for such claims. IV. Any claim under any Statute must be received in writing by the auctioneer within ten days of the sale. The Auction I. The auctioneer has the absolute discretion to divide any lot, to combine any two or more lots or to withdraw any lot or lots from the sale, to refuse bids, regulate bidding or cancel the sale without in any case giving reason or without previous notice. He/she may bid on behalf of the vendor for all goods which are being offered subject to reserve or at the auctioneer?s discretion. II. The highest bidder shall be the buyer except in the case of a dispute. If during the auction the Auctioneer considers that a dispute has arisen, he/she has absolute discretion to settle it or re-offer the lot. The auctioneer may at his/her sole discretion determine the advances or bidding or refuse a bid III. Each lot is put up for sale subject to any reserve price placed by the vendor. Where there is no reserve price (but not otherwise) the seller has the right to bid either personally or by any one person (who may be the auctioneer) IV. All conditions, notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statements modifying or affecting the same made by the auctioneer from the rostrum prior to any bid being accepted for the lot. Inspection Each buyer by making a bid for a lot acknowledges that he/she has satisfied him/herself fully before bidding by inspection or otherwise as to all sale terms and conditions and physical condition and description of the lot including but not restricted to whether the lot is damaged or has been repaired or restored. Property and Risk Legal title will not pass to the buyer until the lot(s) have been paid for in full and the Auctioneers shall be entitled to a lien on any lot sold until the purchase price is paid in full, but each lot is at the sole risk of the buyer from the fall of the hammer Purchase Price The purchaser of any lot shall pay the hammer price plus premium at the appropriate rate and on the hammer price at the appropriate rate if applicable on that lot. The premium shall be calculated at 22% + VAT. The premium is to be paid by all purchasers. The vendor authorises the auctioneer to deduct commission and expenses from the hammer price and to retain the premium payable by the purchaser. . Online bidding with Easy Live Auction will attract an additional sum of either a flat fee of ?3.00 per sale or 3% of the hammer price (depending on choice at time of registering). In completing the bidder registration on The-saleroom.com and easyLiveAuction.com providing your credit card details and unless alternative arrangements are agreed with Acreman St. Antiques Auction Ltd. You: (i) authorise Acreman St. Antiques Auction 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 sale via the-saleroom.com, and (ii) confirm that you are authorised to provide these credit card details to Acreman St. Antiques Auction Ltd. through www.the-saleroom.com and agree that Acreman St. Antiques Auction Ltd. are entitled to ship the goods to the card holder name and cardholder address provided in fulfilment of the sale Droit de Suite Certain works of art within our sales may be subject to the Droit de Suite or Artist?s Resale Right, which took effect in the United Kingdom on 14th February 2006. Under this legislation, we are required to collect a royalty payment for all qualifying works of art, where the artist is still living. This royalty will be charged to the buyer on the hammer price and in addition to the buyer?s premium. It will not apply to works where the hammer price is less than ?1,000 (euros). The charge for works of art sold at and above ?1,000 (euros) and below ?50,000 (euros) is 4%. For items selling above ?50,000 (euros), charges are calculated on a sliding scale. All royalty charges are paid to the Design and Artists Copyright Society (?DACS?) and no handling costs or additional fees are retained by the auctioneers. Please note that the royalty payment is calculated on the rate of exchange at the European Central Bank on the date of the sale. More information on Droit de Suite is available at www.dacs.org.uk Third Party Liability Every person on Acreman St. Antiques Auction Ltd. premises at any time shall be deemed to be there at his/her own risk. He/she shall have no claim against Acreman St. Antiques Auction Ltd, its employees or agents in respect of accident which may occur, or injury, damage or loss however caused, save in so far as the injury damage or loss shall be caused by the direct negligence of Acreman St. Antiques Auction Ltd. employees. Vendors Terms & Conditions Definitions for the purpose of these Terms & Conditions of Engagement: The Company is the Auctioneer and the Vendor is the person instructing the auctioneer to sell goods by auction. The Purchaser is the person who has acquired goods at auction. The Auctioneers' Conditions of Sale are on display in the auction rooms and online at https://www.acremanstreetantiques.co.uk/. Vendors are considered to have had notice of these and to have agreed acceptance of the same when requesting the entry of goods for the 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 (i.e. General or Specialist) and refuse any 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. Vendors do not incur storage charges for the goods held with Acreman St. Antiques Auction Ltd. pending sale. 4) The Auctioneers act as agents only and do not hold themselves responsible for any default on the part of the 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 the 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 Auctioneers will not accept electrical goods for sale unless these are almost new and/or the owner can assure the same are in working order. Some 'Period' equipment may be accepted (eg. lights and fittings) but will be sold as decorative only - to comply with legislation. 6) The vendor shall indemnify the Auctioneers against any claims in connection with goods sold on the Vendor's instructions. 7) The Auctioneers disclaim responsibility for all loss or damage to goods or for unauthorised removal of the same unless directly the result of negligence on the part of their employees. 8) 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. 9) All items offered will be subject to the Auctioneers discretionary margin of 10% - 20% of the set reserve. Unreserved goods withdrawn prior to or awaiting sale will be valued by the Auctioneers at their absolute discretion as their estimate of auction value. 10) Vendors Commission is charged on the hammer price at the rate of 15% plus 1.5% for insurance cover and a lotting fee of ?5 per lot for fine art and collectors auctions, will be charged. This charge covers lotting expenses, catalogue entry, online listing and illustration. This comprises all charges except removal, storage, repair and advertising (where applicable). A charge of 15% commission +1.5% for insurance cover and a lotting fee of ?3 minimum charge per lot sold for general antiques auctions. The Auctioneers reserve the right to collect the appropriate lotting fee with the entry form and prior to each submission for auction. 11) Unsold goods will attract a lotting fee plus 1.5% insurance charge (based on reserve price or lower estimate), plus expenses where applicable. Goods withdrawn prior to sale but after cataloguing, valuation or repairs will attract a charge at the rate of 15% of the value based upon reserved prices or valuation provided by the Auctioneers (plus expenses where applicable), which shall be binding upon the Vendor. This will be levied in addition to the lotting fee and the insurance charge. Goods cannot be withdrawn within three working days of commencement of the sale without the agreement of the Auctioneers. 12) Payment (without interest) for general antiques auctions will usually be made to the Vendor approximately 2 weeks following the sale after the deduction of premium, commission and expenses (where applicable) provided that full payment has been received from the purchaser and 3-4 weeks following the fine art and collectors online sales full payment has been received from the purchaser. 13) Notwithstanding any other of these Terms and Conditions if within 10 days of the sale of any lot the Purchaser gives written notice to the Auctioneer that in his or her opinion it is a deliberate forgery as defined below and within 14 days of such notice returns the lot to the Auctioneers in the sale condition as it was at the time of sale and by producing evidence (the burden of proof being with 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 of 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 the sale was in accordance with then 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 and rely upon any expert or authority considered by them to be reliable. 14) A vendor may place reserves on any lots however, if 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 by agreement with the vendor. If a lot fails to sell at the initial auction it will be subject to a 10 - 20% reduction in lower estimate or reserve on each subsequent entry. All items entered into 'General Sales' will be sold strictly without reserve. 15) The Auctioneers reserve the right to dispose of all unsaleable lots which they consider to be of negligible value (not under reserve) without reference to the Vendor and at the Vendors full expense including those which fail to comply with condition 5 herein. 16) The auctioneer must be notified in writing of all requests to change previously agreed reserves no later than 3 working days prior to the start of sale. 17) Lots which fail to sell will automatically be re-entered into the next appropriate auction unless withdrawn by the vendor and subsequently removed from the premises by 5pm on the Friday following the auction date. Failure to remove items from the Auction House within the given time may result in lot(s) being re-offered for auction at the discretion of the auctioneers or without reserve and without further notice to the vendor in order to recover costs. Should items entered for the 'General Auction' remain unsold after being offered for auction on two separate occasions and are not removed from the premises by 5pm on the Friday following the Auction, the auctioneers reserve the right to dispose of lots without further notice to the vendor. Where applicable the vendor is liable for disposal charges. 18) Total / Partial House Clearance: The Clearance Charge (subject to appraisal) will be deducted from the nett sale proceeds when payment is due after all items have been sold, returned or disposed of. Unless otherwise agreed with the Auctioneers all items will be sold without reserve. Particular emphasis is drawn to condition 3. 19) It is the responsibility of the vendor to monitor the progress of their items.