London Jewellery

UK - Conditions Of Sale For Buyers These Conditions of Sale and the Saleroom Notices as well as specific Catalogue terms, set out the terms on which we offer the Lots listed in this Catalogue for sale. By registering to bid and/or by bidding at auction You agree to these terms, we recommend that You read them carefully before doing so. You will find a list of definitions and a glossary at the end providing explanations for the meanings of the words and expressions used. Special terms may be used in Catalogue descriptions of particular classes of items (Books, Jewellery, Paintings, Guns, Firearms, etc.) in which case the descriptions must be interpreted in accordance with any glossary appearing in the Catalogue. These notices and terms will also form part of our terms and conditions of sales. In these Conditions the words ?Us?, ?Our?, ?We? etc. refers to Lyon & Turnbull Ltd, the singular includes the plural and vice versa as appropriate. ?You?, ?Your? means the Buyer. Lyon & Turnbull Ltd. acts as agent for the Seller. On occasion where Lyon & Turnbull Ltd. own a lot in part or full the property will be identified in the catalogue with the symbol (??) next to its lot number. A. Before the Sale 1. Descriptions of Lots Whilst we seek to describe Lots accurately, it may be impractical for us to carry out exhaustive due diligence on each Lot. Prospective Buyers are given ample opportunities to view and inspect before any sale and they (and any independent experts on their behalf) must satisfy themselves as to the accuracy of any description applied to a Lot. Prospective Buyers also bid on the understanding that, inevitably, representations or statements by us as to authorship, genuineness, origin, date, age, provenance, condition or Estimated selling price involve matters of opinion. We undertake that any such opinion shall be honestly and reasonably held and only accept liability for opinions given negligently or fraudulently. Subject to the foregoing neither we the Auctioneer or our employees or agents accept liability for the correctness of such opinions and no warranties, whether relating to description, condition or quality of Lots, express, implied or statutory, are given. Please note that photographs/images provided may not be fully representative of the condition of the Lot and should not be relied upon as indicative of the overall condition of the Lot. All dimensions and weights are approximate only. 2. Our Responsibility for Our Description of Lots We do not provide any guarantee in relation to the nature of a Lot apart from our authenticity warranty contained in paragraph E.2 and to the extent provided below. (a) Condition Reports: Condition Reports are provided on our Website or upon request. The absence of a report does not imply that a Lot is without imperfections. Large numbers of such requests are received shortly before each sale and department specialists and administration will endeavour to respond to all requests although we offer no guarantee. Any statement in relation to the Lot is merely an expression of opinion of the Seller or us and should not be relied upon as an inducement to bid on the Lot. Lots are available for inspection prior to the sale and You are strongly advised to examine any Lot in which You are interested prior to the sale. Our Condition Reports are not prepared by professional conservators, restorers or engineers. Our Condition Report does not form any contract between us and the Buyer. The Condition Reports do not affect the Buyer?s obligations in any way. (b) Estimates: Estimates are placed on each Lot to help Buyers gauge the sums involved for the purchase of a particular Lot. Estimates do not include the Buyer?s Premium or VAT. Estimates are a matter of opinion and prepared in advance. Estimates may be subject to change and are for guidance only and should not be relied upon. (c) Catalogue Alterations: Lot descriptions and Estimates are prepared in advance of the sale and may be subject to change. Any alterations will be announced on the Catalogue alteration sheet, made available prior to the sale. It is the responsibility of the Buyer to make themselves aware to any alterations which may have occurred. 3. Withdrawal Lyon & Turnbull may, at its discretion, withdraw any Lot at any time prior to or during the sale of the Lot. Lyon & Turnbull has no liability to You for any decision to withdraw. 4. Jewellery, Watches, Clocks & Other Items (a) Jewellery: (i) Coloured gemstones (such as rubies, sapphires and emeralds) may have been treated to enhance their look, through methods such as heating and oiling. These methods are accepted practice but may make the gemstone less strong and/or require special care in future. (ii) All types of gemstones may have been improved by some method. You may request a gemmological report for any Lot which does not have a report if the request is made to us at least three weeks before the date of the sale and You pay the fee for the report in advance of receiving said report. (iii) We do not obtain a gemmological report for every gemstone sold in our sales. Where we do get gemmological reports from internationally accepted gemmological laboratories, such reports may be described in the Sale Particulars. Reports will describe any improvement or treatment only if we request that they do so, but will confirm when no improvement or treatment has been made. Because of differences in approach and technology, laboratories may not agree whether a particular gemstone has been treated, the amount of treatment or whether treatment is permanent. The gemmological laboratories will only report on the improvements or treatments known to the laboratories at the date of the report. (iv) For jewellery sales, all Estimates are based on the information in any gemmological report or, if no gemmological report is available, You should assume that the gemstones may have been treated or enhanced. (b) Clocks & Watches: All Lots are sold ?as seen?, and the absence of any reference to the condition of a clock or watch does not imply the Lot is in good condition and without defects, repairs or restorations. Most clocks and watches will have been repaired during their normal lifetime and may now incorporate additional/newer parts. Furthermore, we make no representation or warranty that any clock or watch is in working order. As clocks and watches often contain fine and complex mechanisms, Buyers should be aware that a general service, change of battery or further repair work, for which the Buyer is solely responsible, may be necessary. Buyers should also be aware that we cannot guarantee a watch will remain waterproof if the back is removed. Buyers should be aware that the importing watches such as Rolex, Frank Muller and Corum into the United States is highly restricted. These watches cannot be shipped to the USA and only imported personally. Clocks may be sold without pendulums, weights or keys. (c) Alcohol: may only be sold to persons aged of 18 years and over. By registering to bid, You affirm that You are at least that age. All collections must be signed for by a person over the age of 18. We Reserve the right to ask for ID from the person collecting. Buyers of alcohol must make appropriate allowances for natural variations of ullages, conditions of corks and wine. We can provide no guarantees as to how the alcohol may have been stored. There is always a risk of cork failure and allowance by the Buyer must be made. Alcohol is sold ?as is? and quality of the alcohol is entirely at the risk of the Buyer and no warranties are given. (d) Books-Collation: If on collation any named item in the sale Catalogue proves defective, in text or illustration the Buyer may reject the Lot provided he returns it within 21 days of the sale stating the defect in writing. This, however, shall not apply in the case of unnamed items, periodicals, autographed letters, music M.M.S., maps, drawings nor in respect of damage to bindings, stains, foxing, marginal worm holes or other defects not affecting the completeness of the text nor in respect of Defects mentioned in the Catalogue, or at the time of sale, nor in respect of Lots sold for less than ?300. (e) Electrical Goods: are sold as ?works of art? only and if bought for use must be checked over for compliance with safety regulations by a qualified electrician first. Use of such goods is entirely at the risk of the Buyer and no warranties as to safety of the goods are given. (f) Upholstered items: are sold as ?works of art? only and if bought for use must be checked over for compliance with safety regulations (items manufactured prior to 1950 are exempt from any regulations). Use of such goods is entirely at the risk of the Buyer and no warranties as to safety of the goods are given. We provide no guarantee as to the originality of any wood/material contained within the item. B. Registering to Bid 1. New Bidders (a) If this is Your first time bidding at Lyon & Turnbull or You are a returning Bidder who has not bought anything from us within the last two years You must register at least 48 hours before an auction to give us enough time to process and approve Your registration. We may, at our discretion, decline to permit You to register as a Bidder. You will be asked for the following: (i) Individuals: Photo identification (driving licence, national identity card or passport) and, if not shown on the ID document, proof of Your current address (for example, a current utility bill or bank statement) (ii) Corporate clients: Your Certificate of Incorporation or equivalent document(s) showing Your name and registered address together with documentary proof of directors and beneficial owners, and; (iii) Trusts, partnerships, offshore companies and other business structures please contact us directly in advance to discuss requirements. (b) We may also ask You to provide a financial reference and/or a deposit to allow You to bid. For help, please contact our Finance Department on +44(0)131 557 8844. 2. Returning Bidders We may at our discretion ask You for current identification as described in paragraph B.1.(a) above, a finance reference or a deposit as a condition of allowing You to bid. If You have not bought anything from us in the last two years, or if You want to spend more than on previous occasions, please contact our Finance Department on +44(0)131 557 8844. 3. Failure to Provide the Right Documents If in our opinion You do not satisfy our Bidder identification and registration procedures including, but not limited to, completing any anti-money laundering and/or anti-terrorism financing checks we may require to our satisfaction, we may refuse to register You to bid, and if You make a successful bid, we may cancel the contract between You and the Seller. 4. Bidding on Behalf Of Another Person (a) As an authorised Bidder: If You are bidding on behalf of another person, that person will need to complete the registration requirements above before You can bid, and supply a signed letter authorising You to bid for him/her. (b) As agent for an undisclosed principal: If You are bidding as an agent for an undisclosed principle (the ultimate Buyer(s)) You accept personal liability to pay the Purchase Price and all other sums due, unless it has been agreed in writing with us before commencement of the auction that the Bidder is acting as an agent on behalf of a named third party acceptable to us and we will seek payment from the named third party. 5. Bidding in Person If You wish to bid in the saleroom You must register for a numbered bidding paddle before You begin bidding. Please ensure You bring photo identification with You to allow us to verify Your registration. 6. Bidding Services The bidding services described below are a free service offered as a convenience to our clients and we are not responsible for any error (human or otherwise), omission or breakdown in providing these services. (a) Phone bids Your request for this service must be made no later than 12 hours prior to the auction. We will accept bids by telephone for Lots only if our staff are available to take the bids. If You need to bid in a language other than English You should arrange this Well before the auction. We do not accept liability for failure to do so or for errors and omissions in connections. (b) Internet Bids For certain auctions we will accept bids over the internet. For more information please visit our Website. We will use reasonable efforts to carry out online bids and do not accept liability for equipment failure, inability to access the internet or software malfunctions related to execution of online bids/ live bidding. (c) Written Bids While prospective Buyers are strongly advised to attend the auction and are always responsible for any decision to bid for a particular Lot and shall be assumed to have carefully inspected and satisfied themselves as to its condition we shall, if so instructed, clearly and in writing execute bids on their behalf. Neither the Auctioneer nor our employees nor agents shall be responsible for any failure to do so. Where two or more commission bids at the same level are recorded we Reserve the right in our absolute discretion to prefer the first bid so made. Bids must be expressed in the currency of the saleroom. The Auctioneer will take reasonable steps to carry out written bids at the lowest possible price, taking into account the Reserve. If You make a written bid on a Lot which does not have a Reserve and there is no higher bid than Yours, we will bid on Your behalf at around 50% of the lower Estimate or, if lower, the amount of Your bid. C. During the Sale 1. Admission to Our Auctions We shall have the right at our discretion, to refuse admission to our premises or attendance at our auctions by any person. We may refuse admission at any time before, during or after the auction. 2. Reserves Unless indicated by an insert symbol (?), all Lots in this Catalogue are offered subject to a Reserve. A Reserve is the confidential Hammer Price established between us and the Seller. The Reserve is generally set at a percentage of the low Estimate and will not exceed the low Estimate for the Lot. 3. Auctioneer?s Discretion The maker of the highest bid accepted by the Auctioneer conducting the sale shall be the Buyer and any dispute shall be settled at the Auctioneer?s absolute discretion. The Auctioneer may move the bidding backwards of forwards in any way he or she may decide or change the order of the Lots. The Auctioneer may also; refuse any bid, withdraw any Lot, divide any Lot or combine any two or more Lots, reopen or continuing bidding even after the hammer has fallen. 4. Bidding The Auctioneer accepts bids from: (a) Bidders in the saleroom; (b) Telephone Bidders, and internet Bidders through Lyon & Turnbull Live or any other online bidding platform we have chosen to list on and; (c) Written bids (also known as absentee bids or commission bids) left with us by a Bidder before the auction. 5. Bidding Increments Bidding increments shall be at the Auctioneer?s sole discretion. 6. Currency Converter The saleroom video screens and bidding platforms may show bids in some other major currencies as Well as sterling. Any conversion is for guidance only and we cannot be bound be any rate of exchange used. We are not responsible for any error (human or otherwise) omission or breakdown in providing these services. 7. Successful Bids Unless the Auctioneer decides to use their discretion as set out above, when the Auctioneer?s hammer falls, we have accepted the last bid. This means a contract for sale has been formed between the Seller and the successful Bidder. We will issue an invoice only to the registered Bidder who made the successful bid. While we send out invoices by post/or email after the auction, we do not accept responsibility for telling You whether or not Your bid was successful. If You have bid by written bid, You should contact us by telephone or in person as soon as possible after the auction to get details of the outcome of our bid to avoid having to pay unnecessary storage charges. 8. Relevant Legislation You agree that when bidding in any of our sales that You will strictly comply with all relevant legislation including local laws and regulations in force at the time of the sale for the relevant saleroom location. D. The Buyer?s Premium, Taxes and Artist?s Resale Royalty 1. The Purchase Price For each Lot purchased a Buyer?s Premium of 26% of the Hammer Price of each Lot up to and including ?800,000, 20% from ?800,001 thereafter. VAT at the appropriate rate is charged on the Buyer?s Premium. No VAT is payable on the Hammer Price or premium for printed books or unframed maps bought at auction. Live online bidding may be subject to an additional premium (level dependent on the live bidding service provider chosen). This additional premium is subject to VAT at the appropriate rate as above. 2. Value Added Tax Value Added Tax is charged at the appropriate rate prevailing by law at the date of sale and is payable by Buyers of relevant Lots. Please see D.2(e) for the conditions to be fulfilled before the VAT charged on the Hammer Price may be cancelled or refunded upon exporting from the UK. (a) Lots affixed with (?): Value Added Tax on the Hammer Price and Buyer?s Premium is imposed by law on all items affixed with a dagger (?). This imposition of VAT maybe because the Seller is registered for VAT within the UK and is not operating under a Margin Scheme. (b) Lots affixed with (?): A reduced rate of Import Value Added Tax on the Hammer Price of 5% is payable. This indicates that a Lot has been imported from outwith the UK. (c) Lots affixed with [?]: Standard rate of 20% of Import Value Added Tax on the Hammer Price and premium is payable. This applies to items that have been imported from outwith the UK and do not fall within the reduced rate category. (d) Lots affixed with [?] or ? when these lots are released to buyers in the UK, the buyer will become the importer and must pay us Lyon & Turnbull Ltd. the import VAT at the rates noted above on the hammer price. The buyer should also note that the appropriate rate will be that in force on the date of our release and not that in force at the date of auction or payment. (e) Export from the UK: For lots offered under the VAT Margin Scheme and lots with [?] or ? symbols attached; you may be eligible to have a VAT refund in certain circumstances if the lot is exported. Should you show us proof of export within three months of collection a VAT refund may be arranged. No VAT amounts will be refunded where the total refund is under ?100. Bank/transfer charges relating to any refund will be borne by the buyer and will not be reimbursed. Please also note that all customs formalities of the destination country are the responsibility of the buyer. 3. Artist?s Resale Royalty (Droit De Suite) This symbol [ ? ] indicates works which may be subject to the Droit de Suite or Artist?s Resale Right, which took effect in the United Kingdom on 14 February 2006. We are required to collect a royalty payment for all qualifying works of art. Under new legislation which came into effect on 1st January 2012 this applies to living artists and artists who have died in the last 70 years. 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. The charge for works of art sold at and above ?1,000 and below ?50,000 is 4%. For items selling above ?50,000, 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 Auctioneer. Resale royalties are not subject to VAT. More information on Droit de Suite is available at www.dacs.org.uk E. Warranties 1. Seller?s Warranties For each Lot, the Seller gives a warranty that the Seller; (a) Is the owner of the Lot or a joint owner of the Lot acting with the permission of the other co-owners, or if the Sellers is not the owner of or a joint owner of the Lot, has the permission of the owner to sell the Lot, or the right to do so in law, and; (b) Had the right to transfer ownership of the Lot to the Buyer without any restrictions or claims by anyone else. If either other above warranties are incorrect, the Seller shall not have to pay more than the Purchase Price (as defined in the glossary) paid by You to us. The Seller will not be responsible to You for any reason for loss of profits or business, expected savings, loss of opportunity or interest, costs, damages, other damages or expense. The Seller gives no warranty in relation to any Lot other than as set out above and, as far as the Seller is allowed by law, all warranties from the Seller to You, and all obligations upon the Seller which may be added to this agreement by law, are excluded. 2. Authenticity Guarantee We guarantee that the authorship, period, or origin (collectively, ?Authorship?) of each Lot in this Catalogue is as stated in the BOLD or CAPITALISED type heading in the Catalogue description of the Lot, as amended by oral or written saleroom notes or announcements. We make no warranties whatsoever, whether express or implied, with respect to any material in the Catalogue other than that appearing in the Bold or Capitalised heading and subject to the exclusions below. In the event we, in our reasonable opinion, deem that the conditions of the authenticity guarantee have been satisfied, it shall refund to the original purchaser of the Lot the Hammer Price and applicable Buyer?s Premium paid for the Lot by the original purchaser. This Guarantee does not apply if: (a) The Catalogue description was in accordance with the opinion(s) of generally accepted scholar(s) and expert(s) at the date of the sale, or the Catalogue description indicated that there was a conflict of such opinions; or (b) the only method of establishing that the Authorship was not as described in the Bold or Capitalised heading at the date of the sale would have been by means or processes not then generally available or accepted; unreasonably expensive or impractical to use; or likely (in our reasonable opinion) to have caused damage to the Lot or likely to have caused loss of value to the Lot; or (c) There has been no material loss in value of the Lot from its value had it been in accordance with its description in the Bold or Capitalised type heading. This Guarantee is provided for a period of one year from the date of the relevant auction, is solely for the benefit of the original purchaser of the Lot at the auction and may not be transferred to any third party. To be able to claim under this Authenticity Guarantee, the original purchaser of the Lot must: (a) notify us in writing within one month of receiving any information that causes the original purchaser of record to dispute the accuracy of the Bold or Capitalised type heading, specifying the Lot number, date of the auction at which it was purchased and the reasons for such dispute; and (b) return the Lot to our registered office in the same condition as at the date of sale to the original purchaser of record and be able to transfer good title to the Lot, free from any third party claims arising after the date of such sale. We have discretion to waive any of the above requirements. We may require the original purchaser of the Lot to obtain, at the original purchaser of Lot?s cost, the reports of two independent and recognised experts in the field. The reports must be mutually acceptable to us and the original purchaser of the Lot. We shall not be bound by any reports produced by the original purchaser of the Lot, and Reserves the right to seek additional expert advice at its own expense. It is specifically understood and agreed that the rescission of a sale and the refund of the original Purchase Price paid (the successful Hammer Price, plus the Buyer?s Premium) is exclusive and in lieu of any other remedy which might otherwise be available as a matter of law. Lyon & Turnbull and the Seller shall not be liable for any incidental or consequential damages incurred or claimed, including without limitation, loss of profits or interest. 3. Your Warranties (a) You warrant that the funds used for settlement are not connected with any criminal activities, including tax evasion and You are neither; under investigation, have been charged with or convicted of money laundering, terrorist activities or other crimes. (b) Where You are bidding on behalf of another person You warrant that: (i) You have conducted appropriate customer due diligence on the ultimate Buyer(s) of the Lot(s) in accordance with all relevant anti-money laundering legislation, consent to us relying on this due diligence, and You will retain for a period of not less than five years the documentation evidencing the due diligence. You will make such documentation promptly available for immediate inspection by a third party auditor upon our written request to do so; (ii) The arrangements between You and the ultimate Buyer(s) in relation to the Lot or otherwise do not, in whole or in part, facilitate tax crimes, and; (iii) You do not know, and have no reason to suspect that the funds used for settlement are connected with the proceeds of any criminal activity, including tax evasion, or that the ultimate Buyer(s) are under investigation or have been charged with or convicted of money-laundering, terrorist activities, or other crimes. F. Payment 1. Making Payment (a) Within 7 days of a Lot being sold You will pay to us the Total Amount Due in cash or by such other method as is agreed by us. We accept cash, bank transfer (details on request), debit cards and Visa or MasterCard credit cards. Please note that we do not accept cash payments over ?5,000 per Buyer per year. (b) Any payments by You to us can be applied by us towards any sums owing by You to us howsoever incurred and without agreement by You or Your agent, whether express or implied. (c) We will only accept payment from the registered Bidder. Once issued, we cannot change the Buyer?s name on an invoice or re-issue the invoice in a different name. (d) The ownership of any Lots purchased shall not pass to You until You have made payment in full to us of the Total Amount Due. The risk in and the responsibility for the Lot will transfer to You from whichever is the earlier of the following: (i) When You collect the Lot; or (ii) At the end of the 30th day following the date of the auction, or, if earlier, the date the Lot is taken into care by a third party unless we have agreed otherwise with You in writing. (e) You shall at Your own risk and expense take away any Lots that You have purchased and paid for not later than 7 working days following the day of the auction or upon the clearance of any payment whichever is later. Please note we do not accept cheques. We can provide You with a list of shippers. However, we will not be responsible for the acts or omissions of carriers or packers whether or not recommended by us. (f) No purchase can be claimed or removed until it has been paid for. (g) It is the Buyer?s responsibility to ascertain collection procedures, particularly if the sale is not being held at our main sale room and the potential storage charges for Lots not collected by the appropriate time (7 days from date of sale). (h) Lyon & Turnbull are unable to pack or send sold items. 2. In The Event of Non-Payment If any Lot is not paid for in full and taken away in accordance with these Conditions or if there is any other breach of these Conditions, we, as agent for the Sellers and on their behalf, shall at our absolute discretion and without prejudice to any other rights we may have, be entitled to exercise one or more of the following rights and remedies: (a) To proceed against You for damages for breach of contract; (b) To rescind the contract for sale of that Lot and/or any other Lots sold by us to You; (c) To resell the Lot(s) (by auction or private treaty) in which case You shall be responsible for any resulting deficiency in the Total Amount Due (after crediting any part payment and adding any resale costs). (d) To remove, store and insure the Lot in the case of storage, either at our premises or elsewhere and to recover from You all costs incurred in respect thereof; (e) To charge interest at a rate of 5% a year above the Bank of Scotland base rate from time to time on all sums outstanding for more than 7 working days after the sale; (f) To retain that or any other Lot sold to You until You pay the Total Amount Due; (g) To reject or ignore bids from You or Your agent at future auctions or to impose conditions before any such bids shall be accepted; (h) To apply any proceeds of sale of other Lots due or which become due to You towards the settlement of the Total Amount Due by You and to exercise a lien over any of Your property in our possession for any purpose until the debt due is satisfied. You will be deemed to have granted such security to us and we may retain such property as collateral security for Your obligations to us; we may decide to sell Your property in any way we think appropriate. We will use the proceeds of the sale against any amounts You owe us and we will pay any amount left from that sale to You. If there is a shortfall, You must pay us the balance; and (i) Take any other action we see necessary or appropriate. G. Collection & Storage (1) It is the Buyer?s responsibility to ascertain collection procedures, particularly if the sale is not being held at our main sale room and the potential storage charges for Lots not collected by the appropriate time. Information on collection is set out in the Catalogue and our Website (2) Unless agreed otherwise, You must collect purchased Lots within seven days from the auction. Please note the Lots will only be released upon full payment being received. (3) If You do not collect any Lot within seven days following the auction we can, at our discretion; (i) Charge You storage costs at the rates set out on our Website. (ii) Move the Lot to another location or an affiliate or third party and charge You transport and administration costs for doing so and You will be subject to the third party storage terms and pay for their fees and costs. (iii) Sell the Lot in any way we think reasonable. H. Transport & Shipping 1. Transport and Shipping We will include transport and shipping company details with each invoice sent to You, this information is also displayed on our Website. You must make all transport and shipping arrangements, and all costs to be born by You. (b) Lyon & Turnbull are not responsible for making any claim regarding loss or damage to items. 2. Export of Goods Buyers intending to export goods should ascertain; (a) Whether an export licence is required; and (b) Whether there is any specific prohibition on importing goods of that character, e.g. items that may contain prohibited materials such as ivory or rhino horn. It is the Buyer?s sole responsibility to obtain any relevant export or import licence. The denial of any licence or any delay in obtaining licences shall neither justify the recession of any sale not any delay in making full payment for the Lot. 3. CITES: Endangered Plants and Animals Legislation Please be aware that all Lots marked with the symbol Y may be subject to CITES regulations when exporting these items outside Great Britain. These regulations may be found at http://www.defra.gov.uk/ahvla-en/imports-exports/cites We accept no liability for any Lots which may be subject to CITES but have not be identified as such. I. Our Liability to You (a) We give no warranty in relation to any statement made, or information give, by us, our representatives or employees about any Lot other than as set out in the authenticity warranty and as far as we are allowed by law, all warranties and other terms which may be added to this agreement by law are exclude. The Seller?s warranties contained in paragraph E.1 are their own and we do not have a liability in relation to those warranties. (b) (i) We are not responsible to You for any reason whether for breaking this agreement or any other matter relating to Your purchase of, or bid for, any Lot other than in the event of fraud or fraudulent misrepresentation by us other than as expressly set out in these conditions of sale; or (ii) We do not give any representation, warranty or guarantee or assume any liability for a kind in respect of any Lot with regard to merchantability, fitness for a particular purpose, description, size, quality, condition, attribution, authenticity, rarity, importance, medium, provenance, exhibition history, literature or historical relevance, except as required by local law, any warranty of any kind is excluded by this paragraph. (c) in particular, please be aware that our written and telephone bidding services, Lyon & Turnbull Live, Condition Reports, currency converter and saleroom video screens are free services and we are not responsible for any error (human or otherwise), omission or breakdown in these services. (d) We have no responsibility to any person other than a Buyer in connection with the purchase of any Lot (e) If in spite of the terms of this paragraph we are found to be liable to You for any reason, we shall not have to pay more than the Purchase Price paid by You to us. We will not be responsible for any reason for loss of profits, business, loss of opportunity or value, expected savings or interest, costs damages or expenses. J. Other Terms 1. Our Ability to Cancel In addition to the other rights of cancellation contained in this agreement, we can cancel the sale of a Lot if; (i) Any of our warranties are not correct, as set out in paragraph E3, (ii) We reasonably believe that completing the transaction is or may be unlawful; or (iii) We reasonably believe that the sale places us or the Seller under any liability to anyone else or may damage our reputation. 2. Recordings We may videotape and record proceedings at any auction. We will keep any personal information confidential, except to the extent disclosure is required by law if You do not wish to be videotaped, You may make arrangements to bit by telephone or a written bid or bid on Lyon & Turnbull Live instead. Unless we agree otherwise in writing, You may not videotape or record proceedings at any auction. 3. Copyright We own the copyright in respect of all images, illustrations and written material produced by or for us relating to a Lot. (Including Catalogue entries unless otherwise noted in the Catalogue) You cannot use them without our prior written permission. We do not offer any guarantee that You will gain any copyright or other reproductions to the Lot. 4. Enforcing This Agreement If a court finds that any part of this agreement is not valid or is illegal or impossible to enforce, that part of the agreement will be treated as deleted and the rest of this agreement will remain in force. 5. Transferring Your Rights and Responsibilities You may not grant a security over or transfer Your rights of responsibilities under these terms on the contract of sale with the Buyer unless we have given our written permission. This agreement will be binding on Your successors or estate and anyone who takes over Your rights and responsibilities. 6. Reporting On www.lyonandturnbull.com Details of all Lots sold by us, including Catalogue descriptions and prices, may be reported on www.lyonandturnbull.com. Sales totals are Hammer Price plus Buyer?s Premium and do not reflect any additional fees that may have been incurred. We regret we cannot agree to requests to remove these details from our Website. 7. Sale by Private Treaty (a) The same Conditions of Sale (Buyers) shall apply to sales by private treaty. (b) Private treaty sales made under these Conditions are deemed to be sales by auction and subject to our agreed charges for Sellers and Buyers. (c) We undertake to inform the Seller of any offers it receives in relation to an item prior to any Proposed Sale, excluding the normal method of commission bids. (d) For the purposes of a private treaty sale, if a Lot is sold in any other currency than Sterling, the exchange rate is to be taken on the date of sale. 8. Third Party Liability All members of the public on our premises are there at their own risk and must note the lay-out of the premises, safety and security arrangements. Accordingly, neither the Auctioneer nor our employees or agents shall incur liability for death or personal injury or similarly for the safety of the property of persons visiting prior to, during or after a sale. 9. Data Protection Where we obtain any personal information about You, we shall use it in accordance with the terms of our Privacy Policy (subject to any additional specific consent(s) You may have given at the time Your information was disclosed). A copy of our Privacy Policy can be found on our Website www.lyonandturnbull.com or requested from Client Services, 33 Broughton Place, Edinburgh, EH1 3RR or by email from data enquiries@lyonandturnbull.com. 10. Force Majeure We shall be under no liability if they shall be unable to carry out any provision of the Contract of Sale for any reason beyond their control including (without limiting the foregoing) an act of God, legislation, war, fire, flood, drought, failure of power supply, lock-out, strike or other action taken by employees in contemplation or furtherance of a dispute or owing to any inability to procure materials required for the performance of the contract. 11. Law And Jurisdiction (a) Governing Law: These Conditions of Sale and all aspects of all matters, transactions or disputes to which they relate or apply shall be governed by, and interpreted in accordance with, Scots law (b) Jurisdiction: The Buyer agrees that the Courts of Scotland are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Sale relate or apply. K. Definitions & Glossary The following words and phrases used have (unless the context otherwise requires) the meaning to given to them below. The go Glossary is to assist You to understand words and phrases which have a specific legal meaning which You may not be familiar with. 1. Definitions ?Auctioneer? Lyon & Turnbull Ltd (Registered in Scotland No: 191166 | Registered address: 33 Broughton Place, Edinburgh, EH1 3RR) or it?s authorised representative conducting the sale, as appropriate; ?Bidder? a person who has completed a Bidding Form ?Bidding Form? our Bidding Registration Form our Absentee Bidding Form or our Telephone Bidding Form. ?Buyer? the person to whom a Lot is knocked down by the Auctioneer. The Buyer is also referred to by the words ?You? and ?Your? ?Buyer?s Premium? the sum calculated on the Hammer Price at the rates stated in Catalogue. ?Catalogue? the Catalogue relating to the relevant Sale, including any representation on our Website ?Condition Report? the report on the physical condition of a Lot provided to a Bidder or potential Bidder by us on behalf of the Seller. ?Estimate? a statement of our opinion of the range within the hammer is likely to fall. ?Hammer Price? the level of bidding reached (at or above any Reserve) when the Auctioneer brings down the hammer; ?High Cumulative Value of Lot? several Lots with a total lower Estimate value of ?30,000 or above; ?High Value Lot? a Lot with a lower Estimate of ?30,000 or above; ?Lot? each Item offered for sale by Lyon & Turnbull; ?Purchase Price? is the aggregate of Hammer Price and any applicable Buyer?s Premium, VAT on the Hammer Price (where applicable), VAT on the Buyer?s Premium and any other applicable expenses; ?Reserve? the lowest price below which an item cannot be sold whether at auction or by private treaty; ?Sale? the auction sale at which a Lot is to be offered for sale by us. ?Seller? the person who offers the Lot for Sale. We act as agent for the Seller. ?Total Amount Due? the Hammer Price in respect of the Lot sold together with any premium, Value Added Tax or other taxes chargeable and any additional charges payable by a defaulting Buyer under these Conditions; ?VAT? value added tax at the prevailing rate at the date of the sale in the United Kingdom. ?Website? Lyon & Turnbull?s Website at www.lyonandturnbull.com 2. Glossary The following have specific legal meaning which You may not be familiar with. The following glossary is intended to give You an understanding of those expressions but is not intended to restrict their legal meanings: ?Artist?s Resale Right? the right of the creator of a work of art to receive a payment on Sales of that work subsequent to ?Knocked Down? when a Lot is sold to a Bidder, indicated by the fall of the hammer at the Sale. ?Lien? a right for the person who has possession of the Lot to retain possession of it. ?Risk? the possibility that a Lot may be lost, damaged, destroyed, stolen, or deteriorate in condition or value. ?Title? the legal and equitable right to the ownership of a Lot. Version 25.1 UK - Conditions Of Sale For Sellers As seller, you acknowledge that Lots are sold subject to these Conditions and on the Terms of Consignment as notified to the consignor prior to sale of the Lot(s). By consigning to a sale you agree to these terms, please read them carefully before doing so. You will find a glossary at the end explaining the meaning of words and expressions used. In these Conditions the words ?Us?, ?Our?, ?We? etc. refers to Lyon & Turnbull Ltd, the singular includes the plural and vice versa as appropriate. ?You?, ?Your? means the Seller. A. Before the Sale 1. Your Warranties and Undertakings You warrant:- (a) that you are the true owner of the property consigned or are properly authorised by the true owner to consign it for sale and are able to transfer good and marketable title to the property free from any third party claims. (b) that all requirements have been complied with, legal or otherwise, relating to any export or import of the property consigned, all duties and taxes in respect of the export or import of the Lot have (unless agreed in writing with us) been paid and, so far as you and any principal for whom they are acting in relation to the Lot are aware, all third parties have complied with such requirements in the past. (c) that you have provided us with any and all information concerning the Item?s provenance or any concerns expressed by third parties concerning its ownership, condition, authenticity, attribution, and export or import history; and (d) unless you advise us in writing to the contrary on delivery of the Item to us, there are no restrictions on our rights to reproduce photographs or other images of the Item in connection with the sale or any other marketing which will be done in accordance with good taste and decency. (e) in so far as you, or any principal you are acting for, may become aware of any information (including any concerns expressed by third parties) in relation to the Lot, or any description of it, after this agreement has been made, you will promptly inform us of it. If any of the above are incorrect or not complied with, you will reimburse us and/or the Buyer in full for all claims, costs or expenses incurred by us or the Buyer as a result, whether arising in relation to the Lot(s) or the sale proceeds. 2. Due Diligence (a) If this is your first time selling with us or you are a returning seller who has not bought or sold anything from us within the last two years you must provide identification prior to the pre-sale notification letter to allow enough time to process and approve your selling. We may, at our discretion, decline you permission to sell. You will be asked for the following: (i) Individuals: Photo identification (driving licence, national identity card or passport) and proof of your current address (for example, a current utility bill or bank statement) (ii) Corporate clients: Your Certificate of Incorporation or equivalent document(s) showing your name and registered address together with documentary proof of directors and beneficial owners, and; (iii) Trusts, partnerships, offshore companies and other Business structures please contact us directly in advance to discuss requirements. (b) We may also ask you to provide further documentation to allow you to sell. For help, please contact our Finance Department on +44(0)131 557 8844. (c) You warrant that the property for consignment was not purchased by funds and/or connected with any criminal activities, including tax evasion and you are neither under investigation, have been charged with or convicted of money laundering, terrorist activities or other crimes. (d) Where you are selling on behalf of another person you warrant that: (i) You have conducted appropriate customer due diligence on the ultimate seller(s) of the Lot(s) in accordance with all relevant anti-money laundering legislation, consent to us relying on this due diligence, and you will retain for a period of not less than five years the documentation evidencing the due diligence. You will make such documentation promptly available for immediate inspection by a third party auditor upon our written request to do so; (ii) The arrangements between you and the ultimate seller(s) in relation to the Lot or otherwise do not, in whole or in part, facilitate tax crimes, and; (iii) You do not know, and have no reason to suspect that the funds used for settlement are connected with the proceeds of any criminal activity, including tax evasion, or that the ultimate seller(s) are under investigation or have been charged with or convicted of money-laundering, terrorist activities, or other crimes. 3. Returning Sellers We may at our discretion ask you for current identification as described in paragraph A.2(a) above, a finance reference or other documentation as a condition of allowing you to sell. If you have not bought or sold anything from us in the last two years, or if you want to sell considerably more than on previous occasions, please contact our Finance Department on +44(0)131 557 8844. 4. Failure to Provide The Right Documents If in our opinion you do not satisfy our seller identification and registration procedures including, but not limited to, completing any anti-money laundering and/or anti-terrorism financing checks we may require to our satisfaction, we may refuse to sell. Should your Item be sold and subsequent issues arise we will be entitled to hold onto sale proceeds until such time as we are satisfied that you have complied with our procedures. 5. Selling on Behalf Of Another Person (a) As an authorised seller: If you are selling on behalf of another person, that person will need to complete the registration requirements above before you can sell, and supply a signed letter authorising you to sell for him/her. (b) As agent for an undisclosed principal: If you are selling as an agent for an undisclosed principle (the ultimate seller(s)) You accept all sale proceeds can be paid out to you only and any other sums due by you are to be paid by you. 6. Indemnities From You (a) You agree to indemnify us against all claims, proceedings legality costs expenses and losses arising from: (i) any actual or alleged breach of any undertaking warranty or obligation by you to us, whether by act or omission or otherwise; (ii) any injury loss or damage caused to any person by you; (iii) our exercising our powers rights and or duties in these Conditions of Sale; (iv) our receiving or recovering the Proposed Sale; (v) your fraud or our exercising any of our rights or powers in the event of fraud. (vi) Without prejudice to paragraph A.6a(i) any error misdescription or omission in any description of the Lot or any estimate in relation to it, so long as it was not caused by a breach of our duty to you under this agreement to exercise reasonable skill and care. 7. Seller Fees And Charges (Subject to VAT) (a) Lyon & Turnbull charges a Seller?s Commission, calculated on each item as an agreed fixed percentage based on the eventual hammer price at auction and may be subject to a minimum charge. There may are also be additional agreed expenses such as illustration, online listing and a loss and damage warranty fee (see paragraph 12). (b) Transport: Items for sale must be consigned to the sale room by any stated deadline and at your expense. We may be able to assist you with this process. When the provision of transport is organised on your behalf it will be contracted to third parties. Fees for transport will be deducted at settlement. (c) Illustrations: the cost of any illustrations will be borne by you, unless agreed otherwise prior. The copyright in respect of such illustrations shall be the property of us, as is the text of the catalogue. (d) Storage: of the Lots after the sale, where applicable. See paragraph 12. 8. Reserves (a) The Lots will be sold subject to the Reserve. If the Reserve is not mutually agreed between us and confirmed by you in writing before the sale, the Reserve will be fixed by us at our sole discretion on the basis of our reasonable opinion as to the probable level of bids for the Lot. (b) Firm Reserves may be no greater than lower pre-sale estimate level. (c) A Reserve once set cannot be changed except with our agreement. (d) Where a Reserve has been placed on a Lot the Auctioneer may at his/her sole discretion place bids (up to the amount not equalling or exceeding the Reserve) on your behalf. (e) You authorise the Auctioneer to accept bids below the Reserve provided that where we rely on this authority the proceeds paid to you are calculated on the basis that the Hammer Price was the amount equal to the Reserve. (f) You authorise us and the Auctioneer to refuse a bid(s) from any bidder, including the highest bidder, where there is a Reserve if such refusal is reasonable for the protection of you and/or our interests in the circumstances. 9. Catalogue and Marketing (a) We shall decide the way in which a Lot may be included in the sale, how any Lot is described and illustrated in the catalogue or any report, and the marketing, promotion, date, place and conduct of the sale. The Lot/description may appear on our Website but we are under no obligation to do so. (b) A copy of the entry or of the catalogue itself will normally be made available to you prior to the sale and, if it is, you must notify us immediately (and in any event before the sale) in writing, by recorded delivery to the Sales Administrator/Junior Specialist identified in the catalogue or by email to info@lyonandturnbull.com if there is anything in the description which you (or any principal on whose behalf you act) are aware is, or may be, inaccurate or incorrect or, in the case of description of the Lot, incomplete in any material respect. (c) We may at our discretion produce on your behalf other marketing or promotional material in relation to the Lots but are not under any obligation to do so, in which case we may charge you for it. (d) We own the copyright in respect of all images, illustrations and written material produced by or for us relating to a Lot (including catalogue entries unless otherwise noted in the catalogue) you cannot use them without our prior written permission. (e) You will not produce or issue or cause to be produced or issued any marketing or promotional material relating to the Lot prior to the sale. (f) Any entry or any marketing or promotion material may be revised either orally or in writing from time to time (including during the sale) at our discretion. 10. Descriptions and Estimates (a) When providing an estimate the estimate is only an expression of our opinion on the range within we think the Hammer Price for the Lot at the sale is likely to be. Estimates are placed on each Lot to help Buyers gauge the sums involved for the purchase of a particular Lot. Estimates do not include the Buyer?s Premium or VAT. Estimates are a matter of opinion and prepared in advance. Estimates may be subject to change and are for guidance only and should not be relied upon as an indication of the actual selling price or value of a Lot. (b) We may instruct, consult with, and rely on, any outside experts or restorers, agents or other third parties, and carry out such other due diligence, inquiries, research or tests in relation to the property or its provenance, as we deem appropriate in our reasonable discretion. (c) You acknowledge that attribution of Items and descriptions is a matter of opinion and not of fact, and is dependent upon (amongst other things) information provided by you, the condition of the property, the degree of research, examination or testing that is possible or practical in the circumstances, and the status of generally accepted expert opinion at the time of cataloguing. (d) If you are selling the Lot in the course of a Business, we will be entitled to rely entirely upon the description of the Lot given by you or on your behalf in any opinion or description or any estimate we give. We will not accept any liability arising where we have done so. 11. Withdrawal By You (a) If a Seller wishes to withdraw a Lot organised for sale, a withdrawal fee will apply; (i) if withdrawn over 28 working days prior to the sale, this will be charged at 10% of the mid estimate along with any ancillary charges incurred (such as photography), all subject to VAT at the current rate. (ii) if withdrawn within 28 working days of the sale, this will be charged at 20% of the mid estimate along with any ancillary charges incurred (such as photography), all subject to VAT at the current rate. (b) We may withdraw a Lot from the Proposed Sale without any liability if: (i) We reasonably believe that there is any doubt as to the Lot?s authenticity, attribution, or provenance; or (ii) We reasonably doubt the accuracy of any of your warranties; or (iii) You breach any provisions of the Conditions of Sale in any material respect; or (iv) the Lot suffers from loss or damage so that it is not in the state in which it was when we took delivery of it. (d) if a Lot is withdrawn from sale under paragraph A.11(b)(i), or (iv), you shall not be charged a withdrawal fee and the Item shall be dealt with in accordance to paragraph A.12 below. 12. Delivery, Responsibility for the Lot, Storage and Re-Collection (a) Subject to paragraph A.12(c) below we will assume liability for loss or damage to an Item, commencing at the time that Item is taken into physical control and possession by us and ceasing on the earliest date of: (i) when risk passes to the Buyer of the Lot following its sale; (ii) for unsold Lots, when the Lot is released to you, or, within 3 months of the sale; or (iii) 6 months from the date of delivery to us for Items still in the possession of us but not consigned for sale (unless part of a long-term storage agreement). (b) We shall charge a loss and damage warranty fee of 1.5% of the Hammer Price, plus VAT. (c) If any loss or damage should occur to the Lot during the period identified in paragraphs (a) above, our liability to compensate you in respect of that loss shall be restricted to a maximum of the Upper Estimate, or actual loss incurred, whichever is lower. This compensation will be subject to a deduction of a 1.5% loss and warranty fee (subject to VAT). (d) If the Lot is or becomes dangerous, whether before or after the sale, we may dispose of it without advance notice to you in any manner as we think fit and we will be under no liability to you for doing so. (e) If a Lot is withdrawn by you or if we give you notice of our refusal to sell in accordance with paragraph A.13 if so instructed by us you must remove the Lot at your own expense within seven days after the date of your notice to withdraw or our notice to refuse to sell the Lot. (f) If the Lot is unsold at the sale, we may give you not less than seven days? notice to remove the Lot and you must then remove the Lot at your own expense within that period. Until removal such a notice will not terminate our authority to sell the Lot under paragraph A.13. Before removing the Lot you must pay us all sums due to us from you. We may also write to you in relation to recommending a re-offer in which case, if agreed, the Lot will be insured under our usual terms. (g) If you give us notice terminating our authority to sell you must remove the Lot at your own expense within seven days of such notice. Before removing the Lot you must pay us all sums due to us from you. (h) If you fail to remove the Lot by the latest time provided for above you will pay us on demand storage charges at our current daily rate in respect of any period whilst the Lot is stored at our premises after the latest time provided for above and any expense we incur and/or any charges incurred from third party storage providers. This is without prejudice to our power to sell or dispose of the Lot. 13. Our Right to Refuse To Sell and Other Responses (a) If we have reasonable cause to believe that: (i) we and or you are otherwise not legally entitled to sell the Lot (ii) you are in actual or potential breach of the warranties and undertakings set out above (iii) the information about the Lot given to us by you or on your behalf is inaccurate or misleading in any material respect (iv) the Lot is a forgery We may refuse to sell the Lot. In this event, you will remain liable to us for any expenses/fees due. (b) Whenever it becomes apparent to us that the Lot is subject to a claim by someone other than you (or that such a claim can be reasonably expected to be made) we may, at our absolute discretion, deal with the Lot in any manner which appears to us to recognise the legitimate interests of ourselves and the other parties involved and lawfully protect our position and our legitimate interests. (c) We Reserve the rights to make enquiries about any person transacting with us and to identify the source of any funds received from the Buyer. In the event we have not completed our investigation in respect of anti-terrorism financing, anti-money laundering or other financial and identity checks concerning you or the Buyer to our satisfaction at our discretion, we shall be entitled to retain Lots and/or proceeds of sale, postpone or cancel any sale and to take any other actions required or permissive under applicable law, without liability to you. B. During the Sale 1. Conducting the Sale We will conduct the sale on your behalf on these Conditions of Sale subject to any alteration by us made at our discretion by notices, inserts and announcements. You authorise us to charge the Buyer and retain a Buyer?s Premium in accordance with our latest published rates, with applicable VAT. 2. Bidding on Your Property You may not bid or instruct or permit any other person to bid on your behalf on your own property. If you breach this prohibition, we may treat you as bound as Seller and as Buyer but without the benefit of our Authenticity Guarantee or the Reserve, and/or pursue other remedies. 3. Aftersales We Reserve the right to accept an after-auction offer on a Lot on behalf of you, at the agreed Reserve price or above, for up to 48 hours after the original auction. In which case the same charges will be payable as if such Lots had been sold at auction and so far as appropriate these Conditions of Sale apply. C. After the Sale 1. Authority To Deduct Commission And Expenses And Retain Premium And Interest You authorise us to deduct commission at the stated rate, and all expenses incurred for your account from the Hammer Price, and consent to our right to retain beneficially the premium paid by the Buyer in accordance with these Conditions of Sale and any interest earned on the sale proceeds until the date of settlement. We may deduct any money due to us from you, including any sums due to us in respect to any other goods bought or sold through us by you. Unless otherwise agreed in writing between you and us, we may at our discretion pay the sale proceeds to you before receipt of the Proposed Sale, and on our doing so, title in the Lot will pass to us and your right to payment of the Proposed Sale will pass to us together with any right of action you may have against the Buyer for non-payment. We may retain the sale proceeds until you have delivered to us any relevant documentation reasonably required by us to transfer the Lot to the Buyer and in respect of our enquiries. 2. Settlement Payments Subject to full payment by the Buyer, payment of the net proceeds of sale due to you will be made over to you 28 working days following a sale, provided we have received cleared funds. Payment will be made by BACS only, please note we can no longer pay by cheque. Payment will not be made to anyone other than the named seller. Any sum due from you but unpaid on the due date will bear interest (after as well as before judgement or order) at the annual rate of 5% per annum above the base lending rate of Bank of Scotland from time to time to be calculated on a daily basis from the date the sum became due until payment. 3. Non-Payment by The Buyer (a) We will, where it is considered appropriate, take reasonable steps to investigate the ability of bidders to pay for Lots and will use reasonable endeavours, in consultation with you, to enforce payment of the Hammer Price by any Buyer. (b) We, in consultation with you, will decide whether to pursue any of the remedies available to us, including those set out in paragraph F2 of the Condition of Sale (Buyers) including the right to cancel the sale, reoffer or return the property to you. We will inform you of any action which we contemplate taking against the Buyer. (c) lf you elect to take action against any Buyer on your own behalf we will provide you with such assistance as may be reasonably necessary to pursue that action. (d) You hereby agree to inform us of any action which you choose to take against the Buyer to enforce payment of the amount due to you. (e) In the event that a Buyer fails to pay for a Lot in accordance with the Conditions of Sale (Buyers, that Lot will be treated in the same way as an unsold or uncollected Lot. 4. Sale by Private Treaty (a) The same Conditions of Sale (Sellers) shall apply to sales by private treaty. (b) Private treaty sales made under these Conditions are deemed to be sales by auction and subject to our agreed charges for Sellers and Buyers. (c) We undertake to inform you of any reasonable offer we receive in relation to an Item prior to any Proposed Sale, excluding the normal method of commission bids. (d) For the purposes of a private treaty sale, if a Lot is sold in any other currency than Sterling, the exchange rate is to be taken on the date of sale. 5. Authority To Sell Or Dispose Of An Unsold Lot If any or all of the Lots are unsold and are not re-consigned to us for sale, or are not included in a sale, or are withdrawn from sale for any reason, they must be collected from us within one month after the date of the sale, or one month after we send you a notice requiring you to collect them (whichever occurs first). If any such Lots remain uncollected at the end of such period we shall arrange storage at your expense, which may involve a third party. If such Lots are not collected within 90 days after the date of the sale or the date of notice they may be disposed of as we see fit, which may involve their sale by public auction on such terms as we consider appropriate, including those relating to estimates and Reserves. We shall account to you for the proceeds of sale, deducting all amounts due to us. D. Miscellaneous 1. Authenticity Guarantee We may rescind the sale where we reasonably believe that the Lot falls within the terms as defined by our Authenticity Guarantee (see Conditions of Sale (Buyers)), in this event we shall send you notice of such rescission. You agree to return to us the Net Sale Proceeds received from the sale of such Lot with any additional expenses incurred by us. We will return the property to you upon receipt of the Net Sale Proceeds and Expenses, unless prevented in doing so by reasons outwith our control. The Buyer must satisfy us that the Buyer is entitled to exercise a remedy under the authenticity guarantee within one year of the date of the auction. 2. Agency Lyon & Turnbull acts as agent solely for and in the interests of you. We do not act for Buyers in this role and do not give advice to Buyers. When we make a statement about a Lot we are doing so on behalf of you on the Lot. The Auctioneer normally acts as agent only and disclaims any responsibility for default by Sellers or Buyers. 3. Introductory Commissions You agree that in line with market practice we may make payments (sometimes known as introductory commission) to someone who has introduced you to us. We will advise them to inform you about such introductory commission, including its amount. The amount will be paid by us to them. 4. Third Party Liability All members of the public on our premises are there at their own risk and must note the lay-out of the premises and security arrangements. Accordingly, neither the Auctioneer nor our employees or agents shall incur liability for death or personal injury or similarly for the safety of the property of persons visiting prior to, during or after a sale. 5. Remaining Terms Should any provision of these Conditions of Sale be held unenforceable for any reason, the remaining provisions shall remain in full force and effect. 6. Assignations These Conditions of Sale are not assignable by either party without the other?s prior written consent, but are binding on your successor(s) and representative(s). No act, omission or delay by us shall be deemed a waiver or release of any of our rights. 7. Data Protection Where we obtain any personal information about you, we shall use it in accordance with the terms of our Privacy Policy (subject to any additional specific consent(s) you may have given at the time your information was disclosed). A copy of our Privacy Policy can be found on our website www.lyonandturnbull.com or requested from Client Services, 33 Broughton Place, Edinburgh, EH1 3RR or by email from dataenquiries@lyonandturnbull.com 8. Law and Jurisdiction (a) Governing Law: These Conditions of Sale and all aspects of all matters, transactions or disputes to which they relate or apply shall be governed by, and interpreted in accordance with, Scots law (b) Jurisdiction: The Seller agrees that the Courts of Scotland are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Sale relate or apply. E. Glossary In these Conditions of Sale (Sellers): ?Auctioneer? Lyon & Turnbull Ltd (Registered in Scotland No: 191166 | Registered address: 33 Broughton Place, Edinburgh, EH1 3RR) or its authorised Auctioneer, as appropriate; ?Business? includes any trade, Business or profession. ?Buyer? the person who makes the highest possible bid or offer accepted by the Auctioneer, and/or such person?s principal where bidding as agent; ?Buyer?s Premium? the commission payable by the Buyer on the Hammer Price at the rates set out in the Sale Catalogue Guide to Prospective Buyers and an amount in respect of applicable VAT; ?Hammer Price? the highest bid accepted by the Auctioneer by the fall of the hammer or in the case of a post-auction sale, the agreed sale price; ?Item? each and every Item consigned for sale following express written agreement between Lyon & Turnbull and you; ?Lot? each Item offered for sale by Lyon & Turnbull; ?Lower Estimate? the low estimate provided by Lyon & Turnbull to you in relation to each Item, or in relation to any Item which Lyon & Turnbull holds on behalf of you; ?Lyon & Turnbull? the company which has its registered office at 33 Broughton Place, Edinburgh, EHI 3RR registered in Scotland No. 191166 ?Net Sale Proceeds? the Hammer Price, less commissions and other charges, of the Lot sold, to the extent received by Lyon & Turnbull in cleared funds; ?Proposed Sale? the intended sale through which the Items will be sold on; ?Purchase Price? the Hammer Price and applicable Buyer?s Premium; ?Reserve? the lowest price below which an Item cannot be sold; ?Terms Of Consignment? the stipulated terms and rates of commission on which the Auctioneer accepts instructions from Sellers or their agents; ?Upper Estimate? the high estimate provided by Lyon & Turnbull to you in relation to each Item, or in relation to any Item which Lyon & Turnbull holds on behalf of you; ?Without Reserve? where there is no minimum price at which a Lot may be sold (whether at auction or private treaty). Version 25.1