Auction Company Broadway

Terms and Conditions CONDITIONS OF SALE & COMMISSION CHARGES TO BE READ IN CONJUNCTION WITH THE GENERAL CONDITIONS OF SALE 1 ON EACH LOT a) COMMISSION RATES ON EACH LOT SOLD: 12.5%. MINIMUM COMMISSION RATES: (i) General Sales: £4.00 b) ALL UNSOLD LOTS attract charges as follows: (i) General Sales - £4.00 c) INSURANCE LEVY On items sold: 1.5% of hammer price On items unsold (without reserve): £1.50 On items unsold (with reserve): £1.50 d) SURCHARGE ? sold or unsold. In the sale of (for example) three piece suites and pianos, or any other lot of exceptional size or weight, a discretionary surcharge of £10.00 per lot will be made if the sale price does not exceed £150.00. e) VAT at the current rate of 20% is levied on all charges 2 PAYMENT FOR GOODS SOLD. a) The Auctioneer normally dispatch payment to Vendors twenty one working days after the date of the sale. The Auctioneers reserve the right to withhold payments for any lot sold until such time as they have received payment in full from the purchasers. The Auctioneers act as agents only (see General Condition 5). b) The Auctioneer as Agent for the Vendor shall not be liable in the event of fraud in respect of payment for any goods 3 UNSOLD GOODS. The Auctioneers reserve the absolute right to dispose of unsold goods at their discretion, unless otherwise instructed by completion of the sale entry form accordingly by the Vendor prior to sale. If lots are re-entered into another sale the charges will again be levied on each occasion the item is offered. 4 Vendors are requested to collect unsold goods from the General Sale immediately after the auction unless prior arrangements have been made with the Auctioneers. No goods will be released unless the Auctioneers or a member of their staff is in attendance. 5 If unsold goods are not collected as requested or arranged a storage and theft insurance charge will be levied from the date of the auction. 6 THE AUCTIONEERS RESERVE THE RIGHT to lot goods, to join and sub-divide goods into lots and refuse entry to any goods into the sale. It shall be understood that upholstered three piece suites, upholstered armchairs and cottage suites, bedroom furniture and general domestic furniture will only be accepted for sale at the Auctioneers absolute discretion and with no reserve price. If offered and not sold and not collected within three working days it will become the property of The Auction Company Broadway and if disposed of a minimum charge of £100 will be levied. 7 THE AUCTIONEERS will endeavour to locate and accurately record ownership of goods entered into a sale, but they will not accept responsibility for goods which are not recorded on the Entry Form unless forming part of a total or part house clearance conducted by the Auctioneers. 8 PROTECTION OF GOODS. Reasonable precautions will be taken to protect your goods whilst they are held at the sale premises but neither the Auctioneers, their staff or other third parties can be held responsible for any damage to, or loss of their goods awaiting, during or after the sale. The Auctioneers act as agents only. 9 THE AUCTIONEERS reserve the right to abbreviate or omit the description of goods of a general nature or low value which have been lotted together, from their sale records. 10 All goods are entered into the sale on the clear understanding that they are not subject to current lease purchase, hire purchase, lease agreement or a contract hire agreement and are owned wholly by the Vendor, not being subject to bankruptcy proceedings. 11 WITHDRAWN FEE Lots withdrawn after cataloguing or with unrealistic reserves there will be a fee of 10% of the lower estimate to be charged. THIRD PARTY LIABILITY. Every person on The Auction Company Broadway premises at any time shall be deemed to be there at his own risk. He shall have no claim against The Auction Company Broadway in respect of any accident which may occur or injury, damage or loss howsoever caused, save insofar as the injury, damage or loss shall be caused by the direct negligence of The Auction Company Broadway employees. General Conditions of Sale 1. DEFINITIONS. In these Conditions The Auction Company Broadway, who act only as Auctioneers and agents for the vendor, are called ?The Auctioneers?, and the representative of The Auctioneers conducting the Auction is called ?The Auctioneer?. 2. GENERAL. Whilst The Auctioneers make every effort to ensure the accuracy of their catalogue and the description of any lot a) 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. b) The Auctioneers do not accept 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 case The Auctioneers do so as agents of the vendor and are not themselves responsible for such claims. c) 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 The Auctioneers unless they have been instructed in writing by the vendors so to certify, and in such case the Auctioneers do so as agents of the vendor and are not themselves responsible for such claims. d) Any claim under any Statue must be received in writing by the Auctioneer within ten days of the day of the sale. THE AUCTION 3 The Auctioneer has absolute discretion to divide any lot, to combine any two or more lots, to withdraw any lot or lots from the sale, to refuse bids, regulate bidding or cancel the sale without in any case giving any reason or without previous notice. He may bid on behalf of the vendor for all goods which are being offered subject to reserve or at the Auctioneer?s discretion. b) 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 has absolute discretion to settle it or to re-offer the lot. The Auctioneer may at his sole discretion determine the advance of bidding or refuse a bid. c) 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). d) 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. 4 RESCISSION. Notwithstanding any other terms of these Conditions, if within seven days after the sale The Auctioneers have received from the buyer of any lot notice in writing that in his view the lot is a deliberate forgery, and within fourteen days after such notification the buyer returns the same to the Auctioneers in the same condition as at the time of sale and by producing evidence, the burden of proof to be upon the buyer, satisfies the Auctioneer that considered in the light of the entry in the catalogue the lot is a deliberate forgery, then the sale of the lot will be rescinded and the purchase price of the same refunded. In the event of a dispute then the matter shall be settled by arbitration, the arbitrator to be nominated by the President of the Royal Institution of Chartered Surveyors. Both the buyer and the vendor agree to be bound by the decision. 5 DEFAULT. The Auctioneers disclaim responsibility for default by either the buyer or the vendor because they act as agents for the vendor only and therefore do not pay out to the vendor until payment is received from the buyer. Instructions given by telephone are accepted at the sender?s risk and must be confirmed in writing forthwith. 6 In the event of a sale by private treaty both the vendor and the buyer agree to be bound by the General and any Special Conditions of Sale. VENDORS CONDITIONS 7 INSTRUCTIONS. As the Auctioneers are auctioneers, all goods delivered to the Auctioneers? premises will be deemed to be delivered for sale by Auction unless otherwise stated in writing and will be catalogued and sold at the Auctioneers? discretion and accepted by the Auctioneers subject to all the Sale Conditions. By delivering the goods to the Auctioneers for inclusion in their auction sales each vendor acknowledges that he or she has accepted and agreed to be bound by all these conditions. 8 COLLECTION. The Auctioneers do not themselves usually undertake the collection of goods but will, if required in writing, instruct a contractor on the vendor?s behalf in their capacity as agents. The Auctioneers disclaim all responsibility for loss or damage to goods or for unauthorised removal of goods and for damage to premises caused by the contractor who should be insured for such risks. Unless instructions are received to the contrary, the charge for these services will be normally deducted from the proceeds of sale. 9. LOSS OR DAMAGE. The Auctioneers disclaim all responsibility for loss or damage to goods or for unauthorised removal of goods unless caused by the direct negligence of their employees. 10. STORAGE. The Auctioneers reserve the right to store or arrange for the storage of goods delivered to them for sale either on their own premises or elsewhere at their sole discretion. They exempt themselves from any liability for loss or damage to goods delivered to their sale rooms without sufficient sale instructions and reserve the right to make a storage charge for such goods (unless the loss or damage is caused by the negligence of their employees) 11. RIGHT TO SELL. Vendors will be charged for goods left on the premises if the vendor has been requested to remove them and if the goods are not removed within seven days of such request the Auctioneers reserve the right to sell or dispose of the goods. 12. INSURANCE a) Unless otherwise instructed in writing, all goods on the Auctioneers? premises and in their custody will be held insured against risks of fire, theft following forcible entry and water damage (but not against accidental breakage or damage). The value of the goods so covered shall be the gross amount realised, or in the case of unsold lots, the best bid, or in the case of goods withdrawn or stolen prior to a sale that which the specialised staff of the Auctioneers shall in their absolute discretion estimate to be the auction value of such goods. In all cases the there shall be a charge made by the Auctioneer as agent, such charge to be at his sole discretion, to be deducted from the gross amount payable in the event of a valid claim, of no less than the seller commission rate applicable at the time together with the Lotting Fee, VAT to be added where applicable. b) The Auctioneers shall not be responsible for damage to or the loss, theft or destruction of any goods not so insured upon the owner?s written instructions. c) The Auctioneers shall not be responsible for accidental breakage, loss or damage however caused unless directly caused by the negligence of their employees. d) In respect of any article delivered to the Auctioneers if the vendor has in force a policy or policies of insurance in which the article is specifically mentioned as being insured, whether or not for an agreed sum or value, the vendor shall notify his insurers of and shall himself note the Auctioneers? interest as bailees in such policy or policies. e) See clause 1c for insurance charges 13 RESERVES a) All goods are put up for sale WITHOUT RESERVE at the Auctioneer?s discretion unless written instructions as to reserves are received by the Auctioneers prior to the commencement of the sale. b) In the event of any reserve price not being reached at auction, the Auctioneers are empowered to sell after the auction, by private treaty, at not less than the reserve price, as long as the goods remain on the Auctioneers? premises. In the event of such a sale by private treaty the Conditions of Sale applicable to a buyer governing the auction will apply. 14 INDEMNITY. The Vendor shall duly indemnify the Auctioneers against any claims in connection with any goods sold by the Auctioneers on the vendor?s behalf. 15 VALUE ADDED TAX. A vendor who sends for sale by auction any chattel(s) which is an asset of his business must disclose to the Auctioneer whether or not he is a registered person for Value Added Tax 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 Auctioneer on or prior to delivery of the goods. 16 The vendor authorises the Auctioneers to deduct commission and expenses at the stated rates from the hammer price and acknowledges the Auctioneers? right to retain any premium payable by the purchaser. 17 RIGHTS TO PHOTOGRAPHS AND ILLUSTRATION The vendor and the purchaser gives the Auctioneers full and absolute right to photograph and illustrate any lot placed in its hands for sale, or purchased, and to use such photographs and illustrations and any photographs provided by the vendor or purchaser at any time at its absolute discretion (whether or not in connection with the auction). The Auctioneer reserves the right to make a charge for such photographs if used in any auction catalogue or similar sales literature. BUYERS CONDITIONS 18 INSPECTION. Each buyer by making a bid for a lot acknowledges that he has satisfied himself fully before bidding by inspection or otherwise as to all the Sale Conditions, the physical condition of, and description of the lot including but not restricted to whether the lot is damaged or has been repaired or restored. 19 PROPERTY AND RISK. Legal title will not pass to the buyer until the lot(s) has been paid in full and the Auctioneers shall be entitled to a lien on any lot until the purchase price (as defined in 22 below) is paid in full but each lot is at the sole risk of the buyer from the fall of the hammer. Each buyer shall forthwith give his full names and permanent address and if called upon to do so by the Auctioneer shall forthwith pay to the Auctioneers such proportion of the purchase price as the Auctioneer may require. If the buyer fails to do so, the lot may at the Auctioneer?s sole discretion be put up and again re-sold. 20 Every bidder shall be deemed to act as principal unless there is in force a written acknowledgement by the Auctioneers that he acts as agent on behalf of a named principal. 21 REMOVAL OF GOODS a) No purchase shall be claimed or removed until it has been fully paid for and the sale has been concluded. All purchases shall be paid for and removed at the buyers risk and expense by the end of the sale day, failing which the Auctioneer shall not be responsible if the same are lost, stolen, damaged or destroyed and all lots not so removed shall remain at the risk of the buyer and subject to a warehousing charge. If they are not paid for and removed within seven days of the sale the Auctioneer may re-sell them by auction or privately without notice to the buyer. Any liability which there may be on the part of the Auctioneer in respect of any loss shall be restricted to a maximum of the price paid by the buyer of the lot. b) In the event of any failure of the buyers to comply with any of the above conditions the damages recoverable by the seller or the Auctioneers from the defaulter shall include any loss arising on any re-sale of the lot, together with the charges and expenses in respect of both sales, and together with interest at 2% above, National Westminster Bank Plc Base Rate upon the price of any lot which has not been paid for within 48 hours of the sale, and any money deposited in part payment shall be held by the Auctioneers on account of any liability of the defaulter to them or to the seller. The Auctioneers are unable to accept payment from successful bidders other than in cash or by the bidders own cheque strictly by prior agreement with The Auctioneer, or acceptable credit or debit card (2.53% surcharge). Cheques drawn by third parties, whether in the Auctioneers favour or requiring endorsement, cannot be accepted. 22 PURCHASE PRICE. The purchaser shall pay the hammer price together with a premium of 15% of the hammer price (adjusted for VAT as necessary). The premium attracts VAT at the standard rate and is payable by all purchasers. The vendor authorises the Auctioneer to deduct commission and expenses at the stated rates from the hammer price and acknowledges the Auctioneers right to retain the premium payable by the purchaser. IMPORTANT NOTES FOR VENDOR AND PURCHASER BIDS We will be pleased to execute bids on behalf of intending purchasers and no charge is made for this service. Lots will be purchased as cheaply as permitted by other bids and reserves. Bids must be submitted to the Commissions Department at least half an hour before the sale commences and should be entered on the forms provided. Bids left by telephone will be accepted only on the condition that they are at the senders risk and must in any case be confirmed in writing or by facsimile or by email with all such bids having been acknowledged by The Auctioneer prior to the sale. EXPORT LICENCES An export licence is required for certain items leaving the United Kingdom. The obtaining of a relevant Export Licence is the responsibility of the buyer. Motor Vehicles The Buyer of a motor vehicle is responsible for complying with the provision of the Road Traffic Act 1972 and all relevant regulations made under Section 40 thereof (including the Motor Vehicle Construction and Use Regulations 1973) and any statutory modification thereof. Firearms The Buyer of a firearm is responsible for obtaining a valid firearms certificate, shotgun certificate or certificate of registration as a firearms dealer and for conforming with the regulations in force in Great Britain relating to firearms. The Auctioneers will not deliver Lots to Buyers without production of evidence of compliance with this condition. Electrical Goods These can only be sold if inspected beforehand by an electrician and issued with a safety certificate. We can arrange this and the cost will be deducted from sale proceeds. Electrical/Mechanical goods are sold on the strict understanding that these are untested, without warranties or any other guarantees as to serviceability or working order, unless otherwise stated. Online Bidding The Auction Company Broadway offer an online bidding service via LiveAuctioneers. com for bidders who cannot attend the sale. In completing the bidder registration on www.liveauctioneers.com and providing your credit card details and unless alternative arrangements are agreed with The Auction Company Broadway: 1. authorise The Auction Company Broadway, 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 liveauctioneers. com, and 2. confirm that you are authorised to provide these credit card details to The Auction Company Broadway through www.liveauctioneers.com and agree that The Auction Company Broadway are entitled to ship the goods to the card holder name and card holder address provided in fulfilment of the sale. Please note that any lots purchased via liveauctioneers.com live auction service will be subject to an additional 3% commission charge + VAT at the rate imposed on the hammer price

Local Taxes Apply