1. Interpretation
In these Terms the words 'you', 'yours', etc refer to the Seller and if the consignment of goods to us is made by an agent we assume that the Seller has authorised the consignment and that the consignor has the Seller's authority to contract. Similarly the words 'we', 'us', etc refer to the Auctioneers.
2. Commission
Commission is charged to sellers at the following rate per lot: 18.0%. VAT is included in this commission.
3. Removal Costs
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 but any liability incurred to a carrier for haulage charges is solely your responsibility.
4. Insurance of Goods
(a) All goods on our premises or under our control are insured against all risks at our lower auction estimate while so placed and sellers are charged at the rate of 1.5% of the hammer price plus VAT.
(b) If the owner of goods consigned instructs us in writing not to insure them, they then remain at owner's risk unless and until the property in them passes to the Buyer or they are collected back or on behalf of the owner, and clause 4(a) is inapplicable.
5. Illustrations
The cost of any illustrations is borne by you. If we consider that the Lot should be illustrated your permission will be asked first. The copyright in respect of such illustrations shall be the property of us, the auctioneers, as in the text of the catalogue.
6. Minimum Bids and Our Discretion
Goods will normally be offered subject to a reserve agreed between us before the sale in accordance with clause 7. We may sell Lots below the reserve provided we account to you for the same sale proceeds as you would have received had the reserve been the hammer price. If you specifically give us a "discretion" we may accept a bid of up to 10% below the formal reserve.
7. Reserves
(a) You are entitled to place prior to the auction a reserve on any lot consigned, being the minimum hammer price at which that lot may be sold. Reserves must be reasonable and we may decline to offer goods which in our opinion would be subject to an unreasonably high reserve (in which case goods carry the storage and insurance charges stipulated in these Terms of Consignment).
(b) A reserve once set cannot be changed except with our consent.
(c) Where a reserve has been placed only we may bid on your behalf and only up to the reserve (if any) and you may in no circumstances bid personally.
8. Electrical Items
These are subject to detailed statutory safety controls. Where such items are accepted for sale you accept responsibility for the cost of testing by external contractors. Goods not certified as safe by an electrician (unless antiques) will not be accepted for sale. They must be removed at your expense on your being notified. We reserve the right to dispose of unsafe goods as refuse, at your expense.
9. Soft Furnishings
The sale of soft furnishings is strictly regulated by statute law in the interests of fire safety. Goods found to infringe safety regulations will not be offered and must be removed at your expense. We reserve the right to dispose of unsafe goods as refuse, at your expense. The rights of disposal referred to in clause 8 and 9 are subject to the provisions of The Torts (Interference with Goods) Act 1977, Schedule 1, a copy of which is available for inspection on request.
10. Descriptions
Please assist us with accurate information as to the provenance etc of goods where this is relevant. There is strict liability for the accuracy of descriptions under modern consumer legislation and in some circumstances responsibility lies with sellers if inaccuracies occur. We will assume that you have approved the catalogue description of your lots unless informed to the contrary. Where we are obliged to return the price to the buyer when the lot is a deliberate forgery under Condition 15 of the Conditions of Sale and we have accounted to you for the proceeds of sale you agree to reimburse us the sale proceeds. The liability to reimburse the sale proceeds shall not arise where you are acting reasonably and honestly and are unaware of the forgery but we are or ought to have been aware of it.
11. Unsold and Withdrawn Items
If an item is unsold it may with your consent be re-offered at a future sale. Where in our opinion an item is unsaleable you must collect such items from the saleroom promptly on being so informed. Otherwise storage charges may be incurred. We reserve the right to charge for storage in these circumstances at a reasonable daily rate.
12. Withdrawn and Bought In Items
The auctioneers reserve the right to make a charge of 6% plus VAT of the mid-auction estimate plus expenses of items withdrawn after being agreed or bought-in consequent upon the imposition of a reserve or reserves that the auctioneers deem to be unreasonable.
13. Conditions of Sale
You agree that all goods will be sold on our Conditions of Sale. In particular you undertake that you have the right to sell the goods either as owner or agent for the owner. You undertake to compensate us and any buyer or third party for all losses liabilities and expenses incurred in respect of and as a result of any breach of this undertaking.
14. Authority to Deduct Commission and Expenses and Retain Premium and Interest
(a) 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 our Conditions of Sale and any interest earned on the sale proceeds until the date of settlement.
(b) You authorise us in our discretion to negotiate a sale by private treaty not later than the close of business on the day of the sale in the case of lots unsold at 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 Terms apply.
15. Warehousing
We disclaim all liability for goods delivered to our saleroom without sufficient sale instructions, and reserve the right to make minimum warehousing charge of £5 per lot per day. Unsold lots are subject to the sale charges if you do not remove them within a reasonable time of notification. If not removed within three weeks we reserve the right to sell them and defray charges from any net proceeds of sale or at your expense consign them to the local authority for disposal.
16. Settlement
After sale settlement of the net sum due to you normally takes place with 28 days of the sale by crossed cheque to the seller) unless the buyer has not paid for the goods. In this case no settlement will them be made but we will take your instructions in the light of our Conditions of Sale. You authorise any sums owed by you to us on other transactions to be deducted from sale proceeds. You must note the liability to reimburse the proceeds of sale to us under the circumstances provided for in Condition 10 above. You should therefore bear this potential liability in mind before parting with the proceeds of sale until the expiry of 21 days from the date of sale.
