Fine & Decorative Arts

CONDITIONS OF SALE The Auctioneer acts only as agent for the Seller (unless otherwise specifically declared). Lots sold are likely to have been subject to wear and tear caused by user or the effects of age and may therefore have faults and imperfections. Buyers are given ample opportunity at viewing times to examine lots to be sold and will be assumed to have done so. They must rely solely on their own skill or judgement as to whether lots are fit for any particular purpose. 1. Bids All bids made shall be treated as offers made upon these Conditions of Sale and all persons present and approved to bid are admitted to a sale on the basis that they have notice of these Conditions. 2. Ascertainment of the Buyer The Buyer shall be the person making the highest bid which is acceptable to the Auctioneer as signified by the fall of the hammer. No bid may be retracted. In the case of a dispute the Auctioneer may either declare the purchaser or put the lot up again. 3. Auctioneer?s discretion The Auctioneer has sole discretion, (a) to refuse any bid, (b) to advance the bidding as he may decide, (c) to withdraw or divide any lot or combine one lot with another or others, (d) to exclude any person from the auction rooms, and (e) to require pre-payment in full. 4. Reserves and Seller?s right to bid Lots put up for sale are subject, (a) to any reserve price imposed by the Seller, (b) the right of the Auctioneer to bid on behalf of the Seller, and (c) where no reserve has been imposed (but in no other case) for the Seller to bid personally or through any one agent. It is the responsibility of the Seller to ensure any reserves are received by the Auctioneer. 5. Buyer?s Duties The Buyer shall forthwith or as soon as possible after the sale, (a) supply his name and address, (b) supply, if so required, bank or other suitable references, (c) pay the full purchase price in a way acceptable to the Auctioneer, notwithstanding any prior arrangement for advance payment required by the Auctioneer, and (d) on proof of payment clear the lots purchased by the times specified. Lots may not be cleared during the sale except by permission of the Auctioneer. 6. Payments Methods of payment include direct bank transfer, debit card, credit card, cash to a maximum of ?8,500, Building Society cheque or Banker?s draft. Cheques will only be accepted when supported by a guaranteed card. For fraud protection we no longer accept payments by credit or debit cards for ?Customer not Present? transactions. Card payments at the saleroom will be accepted but must be supported by Chip and PIN. Card payments for live internet bidding will only be accepted if they have been AVS and 3D Secure authorised with a maximum transaction value of ?1000. All payments must be cleared before the release of goods. 6A. Anti-Money Laundering Policy New clients spending over ?5000 on an individual transaction must be verified, by supplying a current form of ID confirming their name and address to match the invoice. This must be supplied to complete the transaction before the release of goods 7. Liability of the Auctioneer and Sellers Subject to Condition 8: (a) faults and imperfections (if any) are not stated in the catalogue and neither the Seller nor the Auctioneer is responsible for any defects whatsoever, (b) no warranty is given or authorised to be given by the Seller or the Auctioneer with regard to any lot other than the Seller?s right to sell it, (c) any express or implied conditions or warranties relating to description or quality, are hereby excluded. 8. Catalogue Descriptions Descriptive statements contained in the advertisements or catalogues or made up by the Auctioneer or any member of his staff should be taken as matters of opinion only and shall not be taken as statement of fact. i) Items in the catalogue are sold as seen. Where possible significant damage is mentioned, but this does not include all faults and imperfections. The absence of such reference does not imply that the lot is in good condition or free from restoration or repair. Condition reports are available upon request ii) ?Inscribed? or ?Signed? does not imply that the lot is wholly or partly by that maker 9. Forgeries Notwithstanding Conditions 6 and 7, if the Auctioneer receives notice in writing from the Buyer WITHIN 7 DAYS OF THE SALE that in his opinion a lot is a forgery (as defined in Condition 12) and on giving such notification the lot in question is returned to the Auctioneer at his working premises in the same condition as when bought, then if on considering such evidence as the Buyer supplies to prove his assertion, the Auctioneer decides that the lot is a forgery the sale of the lot will be rescinded and the purchase price repaid to the Buyer. 10. Property in lots and risk The Buyer shall not become the owner of any lot, and the Auctioneer shall have a lien thereon, until the Buyer has discharged the purchase price in full together with any other charges due, but after the fall of the hammer the risk of damage or loss shall nevertheless be the Buyer?s. 11. The Premium The Buyer shall pay to the Auctioneer a premium of 25% of the hammer price plus 20% VAT. 12. Default by Buyer If the Buyer fails to make payment in a way acceptable to the Auctioneer or to remove any lot or lots bought by him within 7 days of the auction or in any other material respect fail to comply with these conditions, the Auctioneer shall have the right, (a) to resell the lot or lots by public auction or otherwise without notice to the Buyer, and if any deficiency arises on such resale, after deducting the Auctioneer?s full costs and expenses, the Buyer shall be responsible to the Auctioneer therefore (but any net surplus to be the Seller?s) or, alternatively, (b) to store the lot at the Auctioneer?s premises or elsewhere and to release the lot to the Buyer only after payment in full of the purchase price together with any other charges due. The Auctioneer reserves the right to charge storage of 50p per lot per day on any lot or lots uncleared by the time specified together with any removal expenses. In addition, interest will be charged at 2.5% per month or part thereof (34.4% APR) on any accounts that remain unpaid in part or full 1 week after the sale. Interest and storage will be charged from the date of sale. In addition, the Buyer shall be liable for all legal and court costs incurred by the Auctioneers in pursuit of payment from the Buyer. The Auctioneer reserves the right to refuse any cheques and will not release lots purchased until evidence has been received that any cheque accepted has been cleared. 13. Release of Goods Payment and clearance should be made within three days after the sale. Goods will not be released until full payment has been cleared and a paid invoice produced. For clients arranging courier or third-party collection: written instruction must be received by the purchaser; identification will be requested from the courier and their vehicle?s registration number taken. 14. Definitions and interpretation In these conditions: (a) Reference to the ?the Auctioneer? shall be taken to mean the firm of Kew Auctions or any director, partner or employee thereof at the time of sale; (b) Buyers shall be deemed to be the principals unless to the prior knowledge of the Auctioneer they are acting as agent on behalf of a named principal; (c) ?Forgery? means a lot (i) which is so constituted as deliberately to deceive when considered in the light of its catalogue description, and (ii) whose value as such is materially less that if it had complied with the catalogue description; (d) The Interpretation Act 1978 shall apply to the general construction of terms and expressions used in these Conditions as if contained in a statute. 15. Law and Jurisdiction These Conditions of sale are subject to English law, which shall apply to their construction as well as their effect. The Seller and Buyer agree to submit to the exclusive jurisdiction of the English courts. 16. CITES Restrictions Any lots containing any amount of Brazilian rosewood and endangered species may be subject to restrictions when exporting outside of the EU. It will be the buyer?s responsibility to make sure that the relevant paperwork is in place before shipping. Some lots are sold with CITES article 10 certificates, allowing the commercial use of an item containing an endangered species. Lots subject to this are marked in the catalogue Import/Export It is the buyer?s responsibility to obtain the correct import/export licenses and CITES licenses for items which they have purchased. Kew Auctions take no responsibility for the export of goods. 17. Gemstones Many gemstones have been treated in various ways to enhance their appearance. For example, sapphires and rubies are routinely heat treated and emerald treated with oils and resins. Some stones may require re-treating or oiling periodically. Enhancement affects market value, and all Kew Auctions estimates assume that gemstones may have been enhanced. 18. Artists Resale Rights (or Droit de Suite) On certain lots marked in the catalogues and which are sold for a hammer price of 1000 Euros or greater (converted into the currency of the sale using The Design and Artists Copyright Society threshold calculator on the date of the Sale) the Additional Premium will be the percentage of the amount of the Hammer Price calculated as follows: 0-50,000 Euros 4% 50,000.01 to 200,000 3% 200,000.01 to 350,000 1% 350,000.01 to 500,000 0.5% Exceeding 500,000 0.25%