TimeLine Auctions 24 June 2011 Session

Terms & Conditions General TimeLine Auctions Ltd acts as agent for the seller only. The sale shall be conducted by the Auctioneer nominated by TimeLine Auctions Ltd. The Auctioneer shall have sole discretion as to the conduct of any sale and his decision shall be final in all matters. TimeLine Auctions Ltd reserve the right to refuse entry, decline bids or to expel any person from any sale, at their sole discretion. A Note on Catalogue Dating and Condition Terms: In the present catalogue and the TimeLine Auctions website, a variety of expressions may be used to describe our opinion of the date(s) of origin attributed to lots offered at auction. An unqualified statement e.g. ?6th century AD? means that in our opinion the lot dates from the 6th century AD. The phrase ?Probably 6th century AD? means that in our opinion the lot dates from the 6th century AD but it is possible that it may be dated differently. The phrase ?Possibly 6th century AD? means that in our opinion the lot may date to the 6th century AD but there is a strong element of uncertainty in this attribution. The phrase ?After the Antique? means that the lot may be of recent origin replicating an ancient style for decorative purposes, but without any intention to pass the lot off as genuinely ancient. Except when otherwise specified, when no date is offered, the lot may be of mixed dates (e.g. Iron Age, Roman and Mediaeval items offered together in a single lot) or in our opinion the lot may be of recent origin. Please note that expressions relating to the extent of any restoration and the condition of the lots are used to describe our opinions of the lots. Sellers All Goods submitted to TimeLine Auctions Ltd for sale by public auction will be lotted and catalogued at the discretion of TimeLine Auctions Ltd. Selling Commission: Standard Rate is 15% of the Hammer Price plus VAT at the prevailing rate. Special Commission Rates may be applied for individual items of significant value or for collections, at the sole discretion of TimeLine Auctions Ltd. Storage Charges: Daily or such other charges for storage of Goods submitted for public auction may be levied, at the discretion of TimeLine Auctions Ltd. Such charges may include for collection of Goods from the Seller?s home/premises, if appropriate. Insurance Charges: Daily or such other charges for insuring Seller?s Goods may be levied at the discretion of TimeLine Auctions Ltd. Such insurances and liability shall commence from the date of receipt of any Goods and shall expire at the time the hammer falls and will be limited in value to the amount of any reserve or to the amount of the low Estimate, as relevant. Other Charges: Special charges for any unusual research, special imaging, testing, consultation with external specialists, conservation, cleaning or other services in connection with any aspect that is considered necessary for the proper presentation of any Goods offered for sale will be levied at the discretion of TimeLine Auctions Ltd but the need for such services and costs will be advised in advance. Value Added Tax: Where applicable, Value Added Tax at the prevailing rate(s) will be applied to all of the Selling Commission and other Charges due from the Seller. Sellers resident outside of the United Kingdom or European Union should note that Import VAT may be payable at the time of importation to the United Kingdom on a valuation basis, with adjustment made after the auction, based upon the final Hammer Price(s). Reserves: The Seller may set a Reserve Price, being the Minimum Hammer Price that the Goods may be sold for, at the discretion of TimeLine Auctions Ltd. Estimates: The setting of Estimates shall be at the discretion of TimeLine Auctions Ltd and the amount of any Estimate shall not be taken as being indicative of the true Value of any Goods. Unsold Lots: In the event of any Lot being Unsold, no Selling Commission shall be payable unless that Lot is subject to a Reserve when a Selling Commission Rate of 5% of the Reserve sum shall be payable. Charges for Storage, Insurance, or Other Services may be payable in all instances, at the discretion of TimeLine Auctions Ltd. Sellers are responsible for insuring any Lots that remain Unsold, from the time the Hammer falls and must make arrangements for collection of the Unsold Goods immediately after the auction ends. Additional costs for delivery of Unsold Goods to the Seller may be applied, at the discretion of TimeLine Auctions Ltd. Withdrawn Lots: In the event that a Seller withdraws any lot after the catalogue has gone to print, an 'unsold fee' of 5% of the low estimate sum plus VAT will always be payable. TimeLine Auctions Ltd reserves the right to withdraw any item from sale at any time if any question arises as to authenticity, ownership or any other matter that might impede a successful sale (in which circumstance no 'unsold fee' shall be payable). Void Sales: In the event of any dispute, TimeLine Auctions Ltd shall hold the sale Void pending resolution and no monies shall be paid over until the dispute is finalised. The Seller shall be liable for the return of any monies paid over by TimeLine Auctions in the event of a dispute raised by the Buyer being upheld. Acceptance of Selling Terms: By submitting any Goods for sale by auction, the Seller is deemed to accept all of the Terms and Conditions of Sale and to warrant that he/she is the legal and beneficial owner of all of the Goods. The Seller agrees to fully indemnify TimeLine Auctions Ltd against any claims. Buyers/Bidders Caveat Emptor: The Buyer must fully satisfy himself as to the description, genuineness, condition or value of any Lot(s) and shall not rely upon the Catalogue, images or upon any statement made by TimeLine Auctions Ltd regarding any Lot. TimeLine Auctions Ltd act solely as agent for the Seller and all matters pertaining to the sale of any Lot are matters between the Seller and Buyer. Guide Prices Estimate ranges are provided for general information only and are given in Pounds Sterling (£), with approximate equivalents in Euros and US Dollars. Hammer prices may fall outside the ranges indicated. Bidder Registration: All persons intending to bid at any auction, whether in person or by Absentee Bid, shall Register their personal details with TimeLine Auctions Ltd prior to bidding. Buyers may be asked to provide an acceptable form of proof of identity and proof of address. TimeLine Auctions Ltd reserves the absolute right to refuse to register any Bidder or to refuse any Bid at their sole discretion and without stating any reason. Bidders may register in advance of the date of any auction or on the day of the sale. Agents: All bidders shall be deemed to be acting as principal in their bidding and shall be personally accountable for all bid amounts, premiums, VAT, and any other costs. Should any bidder wish to appoint an agent to bid on their behalf, this must be authorised by TimeLine Auctions Ltd in advance of the sale and a deposit may be required. Any such arrangements shall be subject to normal registration requirements in addition. Bidder Numbers: All Bidders will be allocated a Bidder Number which must be shown to the Auctioneer at the time of bidding and when the Hammer falls. Buyers are at all times responsible for their Bidder Number Card. Absentee Bids: Although it is best for Bidders to attend the sale and to make their Bids in person, at the request of a Registered Bidder, TimeLine Auctions Ltd will exercise bids on behalf of any Bidder who is unable to attend the Sale. Instructions to Bid must be in writing and stipulate the Lot Number(s) and Maximum amount of the Bid(s). Bids to ?buy? will not be accepted. The Auctioneer will execute Absentee Bids at his/her discretion depending upon competing bids from the floor or elsewhere. In the event that two Absentee Bids of the same amount are received, then the one first received will have priority. All Bids will be made at the lowest level possible. There is no charge for this Service but Timeline Auctions Ltd will accept no liability for errors or for failing to make any Bid. All Absentee bids must be received by no later than 9pm the day before the sale, and be acknowledged by TimeLine Auctions. Internet Bidding: Live on-line bidding arrangements are available. Prospective bidders must register with the service provider directly before the sale. TimeLine Auctions Ltd shall not be responsible for any technical or other failure that might result in bids not being received. Telephone Bidding: For Lots with a minimum estimate value above £400, telephone bidding arrangements may be available, at the discretion of TimeLine Auctions Ltd and subject to prior arrangement. Telephone facilities are limited and prospective bidders who wish to use this service are strongly advised to confirm the arragement well in advance of the sale. TimeLine Auctions Ltd shall not be responsible for any technical or other failures that might result in bids not being received. Conduct of the Sale: The Auctioneer shall conduct the sale entirely at his discretion for all matters and his decision shall be final and binding on all participants at the sale. The Auctioneer may execute Bids on behalf of absent Bidders or on behalf of Sellers up to the amount of any Reserve. Bidding shall be in Pounds Sterling (£) only, at the discretion of the Auctioneer but shall generally be in increments as set out below: From £0 to £100 - in increments of £5 From £100 to £500 - in increments £20 From £500 to £1,000 - in increments of £50 From £1,000 to £5,000 - in increments of £200 From £5,000 - in minimum increments of £500 or at Auctioneer's discretion Buyer?s Premium: The Buyer shall pay the Buyer?s Premium in addition to the Hammer Price on all lots purchased. The Buyer?s Premium Rate shall be 15% and VAT will be payable, at the prevailing rate, in addition. Liability for Goods: The Buyer is responsible for all Goods purchased, from the time the Hammer falls. Any Goods not collected from the Sale venue on the day of Sale will be removed by TimeLine Auctions Ltd to a place of storage, at their discretion. Storage Charges may become payable for uncollected Goods. Unless noted in the Catalogue as being for ?collection only?, shipping costs will be invoiced and must be paid, together with all sums due, before Goods will be shipped. Collection of Goods: Most Lots will be present at the Sale venue and may be collected immediately after the Hammer falls, on full payment being made. TimeLine Auctions Ltd, at the specific request of the Buyer, will make arrangements to ship Goods to the Buyer?s Registered Address at such cost as will be advised by TimeLine Auctions Ltd. Certain Lots, by virtue of size or other difficulty, may not be present at the Sale venue and any Buyer will be required to make prompt arrangements for collection from a storage location designated by TimeLine Auctions Ltd. Invoices: Invoices will be issued at the Sale venue or, for those not attending, shortly afterwards. Payment in full is required and funds must be fully cleared before any Goods may be collected or shipped. Payment: All payments are to be made in Pounds Sterling (£) and become due at the time the Hammer falls. Settlement of Invoices is required within 7 days of the date of the Sale. Interest, at 5% above the prevailing Lloyds TSB bank base rate, will be payable for late payment. TimeLine Auctions Ltd will accept payment by any of the following methods: Cash in Pounds Sterling ? up to a maximum of £7,000 at any one Sale Pound Sterling (£) Cheque ? Goods will only be released upon clearance Debit Card ? to any amount Credit Card ? to any amount ? a 3% surcharge will be applied Banker?s Draft ? to any amount - by prior arrangement Bank Transfer ? to any amount - by prior arrangement Export Licences: For all items potentially requiring an Export Licence, all Buyers with a Registered Address outside of the United Kingdom will be required to sign an indemnity waiver on collection of their Goods. TimeLine Auctions Ltd will make applications for Export Licences on behalf of a Buyer, after full payment has been cleared, for any Lot, on request. There is no charge for this Service but protracted periods may be required to complete the process. It is the Buyer?s sole responsibility to make any necessary enquiries, prior to Bidding, regarding Export Licence procedures. The deferment of an Export Licence shall not be grounds for rescinding the sale. Value Added Tax: Value Added Tax at the prevailing rate(s) will be payable in addition on the Buyer?s Premiums, shipping costs or on any other Charges made by TimeLine Auctions Ltd. Where so indicated in the Catalogue, VAT may be applied to the Hammer Price for Lots to which the Auctioneer?s Margin Scheme does not apply or where Import VAT applies. Buyers with a Registered Address outside of the United Kingdom or European Union may be exempt from some aspects of VAT, provided that any Lots purchased are shipped directly by TimeLine Auctions Ltd to the Buyer?s registered foreign address. Disputes: In the event of any dispute, the Buyer must notify TimeLine Auctions Ltd immediately, but in no case later than fourteen days after the date of the Sale, in writing and stipulating fully the ground for such dispute. During the progress of any dispute, Timeline Auctions Ltd shall hold any and all monies paid by the Buyer until such time as the matter is finalised. In cases where deliberate forgery is alleged, any such claim shall be subject to review by TimeLine Auctions Ltd who may consult such experts as they deem appropriate. The responsibility for proof of forgery shall rest with the Buyer but disagreement between experts or the inability of an expert to express a definite opinion shall not be sufficient grounds. All disputes shall be resolved in accordance with English law. Acceptance of Buying/Bidding Terms: Any person bidding at any sale is deemed to have read and accepted these Terms in full and undertakes to fully indemnify TimeLine Auctions Ltd against any claims.

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