W Stevens – Auctioneer t/a/ Great Torrington Auctions

Full Terms For Buyers & Conditions Of Sale

 

  • 1. All sales are conducted subject to W Stevens - Auctioneer (hereafter “The Auctioneer”) Terms for Buyers and Conditions of Sale which are displayed in the saleroom and printed in the sale catalogues and published on the website. The Buyer agrees to be bound by the Terms for Buyers and the Conditions of Sale, and acknowledges that the Seller is to be bound by the Terms for Sellers.

  • 2. DEFINITIONS“Buyer” means the person who makes the successful bid (as defined in clause 13.3) and also, where appropriate, any person making a bid (by whatever means and whether present at the auction or not) or any visitor to the auction room intending to view the sale or bid. “Auctioneer” means THE AUCTIONEER or its authorised auctioneer.

  • 3. AGENCYTHE AUCTIONEER usually contract as agents for the Seller, therefore the Buyer’s primary contract is with the Seller. For reasons of confidentiality the identity of the seller is not normally disclosed.

  • 4. BUYER’S PREMIUMA Buyer’s premium of 19% is payable on the hammer price of each lot, with a minimum premium of £1.00. No VAT is payable on the buyer’s premium at the current time. 

  • 5. RESERVES All bids shall be offers made upon the Terms for Buyers and Conditions of Sale. Certain lots in all sales may be subject to reserve prices.

  • 6. BIDDER REGISTRATION AND IDENTIFICATIONAnyone intending to bid is required, before the commencement of the sale, to supply their name and address and, if requested, their bank and other suitable references. Proof of identity such as a passport or photographic driving licence may be required. THE AUCTIONEER will then supply a bidding number which should be used when bidding. Lots will be invoiced to the name and address supplied on the registration form.

  • 7. ESTIMATESEstimates are intended for guidance only. The lower estimate may represent the reserve price and will not be below it. Estimates do not include the Buyer's Premium. Estimates may be altered by announcement before the sale. This clause shall apply to estimates printed in the auction catalogues, published on THE AUCTIONEER’ website (or on any website in which our catalogue is published), or supplied verbally by THE AUCTIONEER.

  • 8. ARTIST’S RESALE RIGHT ("DROIT DE SUITE")If a Lot is affected by this right it will be identified with the symbol "^^" next to the lot number. The Buyer agrees to pay THE AUCTIONEER an amount equal to the resale royalty and THE AUCTIONEER will pay such amount to the artist's collecting agent. Resale royalty applies where the Hammer Price is 1,000 Euro or more and the amount cannot be more than 12,500 Euro per lot. The amount is calculated as follows: Royalty for the portion of the Hammer Price (in Euros):

  • 4.00% up to 50,000

  • 3.00% between 50,000.1 and 200,000

  • 1.00% between 200,000.1 and 350,000

  • 0.50% between 350,000.01 and 500,000

  • 0.25% in excess of 500,000

  • Invoices will be issued in Pounds Sterling. For the purposes of calculating the resale royalty the Pounds Sterling/Euro rate of exchange will be the European Central Bank reference rate on the day of the sale.

  • 9. CATALOGUE DESCRIPTIONS AND CONDITION

  • 9.1 All statements in catalogues, advertisements and brochures, and verbal statements made by THE AUCTIONEER, are statements of opinion only, and neither THE AUCTIONEER or the Seller accept any liability for the correctness of such opinions. This clause is subject to clause 11 concerning deliberate forgeries

  • 9.2 The catalogue descriptions (or any statements in advertisements and brochures) will not necessarily reveal damage, repairs or imperfections; therefore it is strongly recommended that the buyer should inspect the lot in person prior to bidding. The absence of any reference to condition in the lot description does not imply that the lot is in good condition or free from damage or in working order. The buyer is reminded that this is an auction and in the vast majority of instances, the items sold are secondhand. Mechanical objects, in particular, may not be in original working order. All lots are sold as found whether or not they are described ‘as found’ or ‘A/F’ in the catalogue description. Please ask a member of THE AUCTIONEER’ staff if you would like help in moving a lot to examine it, or if you would like to examine a lot in daylight, or to plug an electrical item into a socket to inspect it.

  • 9.3 Electrical goods are tested for safety only; they are not tested to ascertain if they are in working order. No refund will be given if the lot is not in working order.

  • 9.4 By making a bid the Buyer acknowledges his or her satisfaction with the condition and contents of the lot. Neither THE AUCTIONEER nor the Seller accepts any responsibility for the condition of any Lot.

  • 10. CONDITION REPORTSA buyer who is unable to attend the auction room prior to a sale to personally examine a lot may request a condition report. THE AUCTIONEER will take reasonable measures to describe the condition of the Lot accurately, but no liability will be accepted for the correctness of that description. Any condition report will be subject to the disclaimers in clause 9. THE AUCTIONEER are not specialists in any field and a condition report prepared by us might not necessarily reveal every defect that a buyer might identify if inspecting the lot in person. THE AUCTIONEER do not have facilities to test gemstones and we are unable to examine articles under ultra-violet light. THE AUCTIONEER might not have time to respond to a request for a condition report received later than close of business on the working day preceding the sale.

  • 11. FORGERIES

  • 11.1 Notwithstanding clauses 9 and 10, any Lot which proves to be a deliberate forgery (as defined in clause 11.2) may be returned to THE AUCTIONEER by the Buyer within 14 days of the auction provided it is in the same condition as when bought, and is accompanied by particulars identifying it from the relevant catalogue description and a written statement of defects. If THE AUCTIONEER is satisfied from the evidence presented that the Lot is a deliberate forgery, we shall refund the money paid by the Buyer for the Lot including any buyer's premium. But such refund will not be made and the Buyer shall have no rights under this condition if (1) the catalogue description reflected the accepted view of experts as at the date of the sale or (2) the Buyer is not able to transfer a good and marketable title to THE AUCTIONEER. The right of return provided by this condition is additional to any right or remedy provided by law or by these Terms for Buyers and Conditions of Sale.

  • 11.2 "deliberate forgery" means an imitation made with the intention of deceiving as to authorship, origin, date, age, period, culture or source but which is unequivocally described in the catalogue as being the work of a particular creator and which at the date of the sale had a value materially less than it would have had if it had been in accordance with the description.

  • 12. EXPORTThe export of any lot from the UK or import into any other country may be subject to one or more export or import licenses being granted. It is the responsibility of the Buyer to obtain any relevant export or import licence. The denial of any licence required or delay in obtaining such licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due. 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 because, e.g. they may contain prohibited materials such as ivory.

  • 13. THE AUCTION PROCESS AND BIDDING INCREMENTS

  • 13.1 The bidding increments will be regulated at the sole discretion of the Auctioneer. All bids shall be offers made upon the Terms for Buyers and Conditions of Sale. Only bids in whole pounds shall be accepted..

  • 13.2 The minimum bid accepted on any lot will be £5.00.

  • 13.3 The maker of the highest bid accepted by the auctioneer conducting the sale shall be the buyer at the hammer price and any dispute about a bid shall be settled at the auctioneer's absolute discretion by reoffering the Lots during the course of the auction or otherwise.

  • 13.4 Once made, no bid may be withdrawn.

  • 13.5 In the case of lots where the seller has placed a reserve, the auctioneer shall have the right to bid on the behalf of the seller, the maker of the highest bid acceptable to the auctioneer to be the Buyer.

  • 13.6 In the event of any dispute, the auctioneer’s decision shall be binding and final.

  • 13.7 The Auctioneer reserves the right to accept or refuse any bid without supplying a reason.

  • 13.8 Bidders shall be deemed to act as principals.

  • 14 COMMISSION BIDS

  • 14.1 For those unable to attend the sale, the facility exists to leave commission bids. Identification may be required of the bidder. Forms are available at the office, or can be downloaded from THE AUCTIONEER’ website. Written bids on these forms are preferred, but commission bids may be left by telephone at THE AUCTIONEER’ discretion.

  • 14.2 The bidder should state the maximum he wishes to bid excluding buyer’s premium. “Buy” or “plus one” bids are not accepted, and bids must be made in whole pounds. Lots will be purchased as cheaply as possible, subject to reserves and any other bids. THE AUCTIONEER will take all reasonable measures to execute a commission bid, but these are accepted on the sole risk of those leaving the bids.

  • 14.3 It is strongly recommended that a bidder inspect the Lot prior to bidding on it. By leaving a commission bid, the bidder acknowledges that they are wholly satisfied with the condition of the Lot. Attention is drawn to clauses 9 and 10.

  • 14.4 Where two or more commission bids are received at the same amount, THE AUCTIONEER reserves the right to prefer the bid, which was received first.

  • 14.5 Any person making a commission bid agrees to be bound by the Terms for Buyers and Conditions of Sale. 

  • 15. TELEPHONE BIDS

Any person making a telephone bid agrees to be bound by the Terms for Buyers and Conditions of Sale.

  • 16. PAYMENT AND COLLECTION

  • 16.1 The Buyer is required to pay in full the purchase price plus premium and, if failing to do so, the remedies set out in Clause 19 shall apply. Legal title shall not pass to the Buyer of any lot until paid for in full in cleared funds, but each lot will immediately, on the fall of the hammer, be and remain in every respect at the risk of the Buyer.

  • 16.2 Lot(s) must be paid for and collected on the day of the sale prior to 4pm; else storage charges shall apply (in addition to any charge provided for by Clause 18 of these Terms). The storage charges shall be at a rate depending on the size of the Lot(s) and shall not be less than £10 per week or part of per Lot.

  • 16.3 THE AUCTIONEER accepts payment by Debit Card and Cash. Goods will not be released and title shall not pass to the buyer until the payment has cleared. Please note we do not accept “card holder not present” payments over £300 - please contact us to arrange an alternative method of payment.

  • 16.4 To comply with current Money Laundering regulations, we will only accept payments in cash up to the equivalent of 8,800 pounds.

  • 17. COLLECTION OF LOTS PURCHASEDAll lots are to be paid for in full before being removed from the saleroom, and to be checked out by a member of THE AUCTIONEER’ staff.

  • 18. REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES

      If any Lot is not paid for in full and taken away in accordance with these

     Terms for Buyers and Conditions of Sale, or if there is any other breach of 

     these Conditions, THE AUCTIONEER as agent for the seller shall at its own

     absolute discretion and without prejudice to any other rights it may have, be 

     entitled to exercise all or any of the following rights and remedies:-

 

            (a) to proceed against the Buyer for damages for breach of contract;

(b) to rescind the sale of that Lot and/or any other Lots sold by us to the Buyer;

(c) to resell the Lot (by auction or private treaty) in which case the Buyer shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs). Any surplus so arising shall belong to the seller;

(d) to remove, store and insure the Lot at the Buyer’s expense and, in the case of storage, either at our premises or elsewhere;

(e) to charge interest at a rate not exceeding 2% per month on the total amount due to the extent that it remains unpaid for more than three working days after a sale;

(f) to retain that or any other Lot sold to the Buyer until the Buyer pays the total amount due;

(g) to reject or ignore bids from the Buyer or his 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 in future becoming due to the Buyer towards the settlement of the total amount due and to exercise a lien (that is a right to retain possession of) on any of your property in our possession until the debt due is satisfied. THE AUCTIONEER shall, as agent for the seller and on its own behalf pursue these rights and remedies only so far as is reasonable to make appropriate recovery in respect of breach of these conditions.

  • 20. AUCTION ROOM SAFETY AND LIMITATION OF LIABILITYAll visitors to the premises are there at their own risk and visitors should familiarise themselves with the layout of the premises and take note of fire exits and health and safety signs. THE AUCTIONEER shall not incur liability for death or personal injury (except as required by law by reason or our negligence) or similarly for the safety of the property of persons visiting the premises. We shall have the right, at our discretion, to refuse admission to our premises or attendance at our auctions by any person.

  • 21. FIREARMSA Lot, which is a firearm, as defined by the relevant legislation will not be released to the Buyer and title shall not pass to the Buyer until the Buyer produces the relevant Firearms Certificate.

  • 22. WARRANTY OF TITLE The seller warrants to THE AUCTIONEER and to the Buyer that the seller is the true owner of the property consigned or is properly authorised by the true owner to consign it for sale and is able to transfer good and marketable title to the property free from any third party claims.

  • 23. PRIVATE TREATY AND CONSUMER LEGISLATIONPrivate treaty sales made under these Terms are deemed to be sales by auction for purposes of consumer legislation.

24. ENGLISH LAW APPLIES TO THE INTERPRETATION OF THESE TERMS FOR BUYERS AND CONDITIONS OF SALE

© 2019 by W. Stevens Auctioneer t/a Great Torrington Auctions