Terms and Conditions of Sale - Sellers

 

 

1. STATEMENT

 

All goods delivered to w. Stevens - Auctioneer trading as Great Torrington Auctions (hereafter “GTA”) will be deemed to be delivered for sale by Auction and will be sold at GTA’s discretion subject to the Terms for Sellers and Terms for Buyers and Conditions of Sale. The Seller acknowledges that the Buyer is to be bound by the Terms for Buyers and Conditions of Sale. BUYER’S PREMIUM is chargeable, all such commission shall be entirely retained together with VAT (if added) by GTA.

 

2. DEFINITION “Auctioneer” means GTA or its authorised auctioneer

 

3. WARRANTY OF TRUE OWNERSHIP AND INDEMNITIES BY SELLER

 

3.1 The Sellers warrants that they are the true owner of the goods consigned for sale, or are properly authorised by the true owner to consign the goods for sale, and that they are able to transfer good and marketable title to the property free from any third party claims. The Seller shall indemnify GTA against any loss or expense caused by a breach of this clause.

3.2 The Seller acknowledges and agrees to indemnify GTA for the return of any purchase money received in respect of any claims. GTA, at their sole discretion shall refund the sale price if GTA has received from the Buyer evidence that in his view the lot is misrepresented, either in form, attribution, or age at the point of sale. The sale of the lot will be rescinded and the purchase price of the same refunded. In the event of dispute then the matter shall be settled by independent qualified arbitration.

3.3 The Seller warrants that they have revealed all relevant information they possess about the items consigned for sale, including provenance, repairs and alteration. The Seller shall indemnify GTA against any loss or expense caused by a breach of this clause.

 

4. IDENTITY

 

Where unknown to GTA, the seller shall provide proof of their identity and address. Where a payment is normally made by cheque, this shall be made only to the named seller and sent to their stated address. Alternatively payment can be made by BACS to the named seller only.

 

5. AGENCY AND DEFAULT BY BUYER

 

GTA acts throughout as an agent only and is not responsible for any default by the Buyer. GTA will not pay the Seller until they have received full settlement from the Buyer. The remedies which GTA may at their discretion apply against a defaulting Buyer are set in the Terms for Buyers and Conditions of Sale.

 

 

6. RIGHT TO REFUSE

 

6.1 GTA reserve the right to refuse any lots unsuitable for sale at their absolute discretion. Lots not suitable for sale shall include (but not be limited to) items not conforming to the 1988 Fire Regulations. Any lots discovered to be unsuitable for sale after submission will be disposed of at GTA’s discretion and a charge will be made to the Seller for this service based on the cost of disposing of such items in accordance with environmental and other relevant legislation. In particular, the disposal of electrical items is subject to special conditions and charged accordingly. The Seller will first be asked to collect the item and the above will only occur if that does not happen.

6.2 Lots accepted for sale will be placed into the first available and appropriate Sale. 

6.3 Low value items not achieving the minimum bid amount will not be entered into a subsequent sale individually if they do not sell at the first-attempt. Amalgamations of the unsold lot with others from the same seller, or with new items submitted by the same seller will be permitted. Low value items falling within the terms of this clause will be identified to the Seller accordingly. Where no amalgamation is feasible, the unsold lot must be collected from GTA within 3 days of the sale or it will need to be disposed of with any cost for the disposal charged back to the Seller.

6.4 The Seller’s attention is drawn to clause 13.5 concerning minimum reserves.

 

7. RESTRICTED ITEMS

 

7.1 There are strict laws concerning the possession, sale, import and export of certain items including (but not limited to) firearms, ivory, taxidermy and birds eggs. As per clause 7.2 below, if identified upon submission, these will not be permissible. Where identified after the Seller has left, The cost of any additional research or investigation relating to any suitable sale of restricted items and, where necessary, the obtaining of a relevant licence for sale, shall be borne by the Seller.

 

7.2 GTA will not accept the following items for sale at any time:.

LARGE FURNITURE* (WHETHER ABLE TO BE DISMANTLED OR NOT) INCLUDING BEDS, MATTRESSES, WARDROBES, SIDEBOARDS, DINING TABLE AND CHAIRS, DESKS, DISPLAY CABINETS, UPHOLSTERED SEATS, NON-FLAT SCREEN TELEVISIONS, KITCHEN ‘WHITE GOODS’ APPLIANCES ETC. GAS COOKING OR HEATING APPLIANCES, PORTABLE GAS BOTTLES, ALCOHOL, CIGARETTES OR OTHER NEW TOBACCO PRODUCTS, FIREARMS, MEDICINES, DRUGS OR UNIDENTIFIABLE SUBSTANCES, TOOLED IVORY OR BONE ITEMS OF ANY AGE, NON CITE REGISTERED OR POST 1947 TAXIDERMY, PORNORGRAPHY OR ANY GENERAL WASTE PRODUCTS DEEMED HAZARDOUS (*Small furniture may be accepted on merit subject to the Auctioneer’s approval).

8. COMMISSION AND EXPENSES

 

The Seller authorises GTA to deduct commission and expenses at the stated rates from the hammer price. The rate of commission on items entered for all Sales is 19% (VAT is currently not payable on the commission by the Seller). Additionally, each Lot created from the goods submitted is subject to a handling and administration charge of £1.50 per Lot (VAT is currently not payable on this charge). These charges shall also apply to Lots sold by private treaty after the auction (clause 13.2).

 

9. STORAGE AND STORAGE CHARGES

 

9.1 GTA reserves 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, subject to clause 6.2 of these Terms. Further, the Seller will be liable for storage charges if the Seller has provided insufficient instructions to enable us to offer the Lot(s) for sale, or if the Seller requests to withdraw a Lot(s) or to store any item.

9.2 Storage will be charged for any lots failing to sell and stored for collection by the Seller.

9.3 Storage is charged at a weekly rate of not less than £5.00 per week per Lot (Plus Vat when chargeable) with additional charges for large or special items requiring more than one person to lift.

 

10. CHARGES FOR WITHDRAWING LOTS

 

The fee for withdrawing a reserved lot after cataloguing but prior to sale is 10% of the reserve price (with a minimum charge of £5).

 

11. GTA’s LIEN AND RIGHT TO SELL

 

Sellers will be charged for goods left on the premises if the seller has been requested to remove them. If the goods are not removed within 7 days of such request, GTA reserve the right to sell the goods and use the sale proceeds to defray costs and storage charges.

 

12. INSURANCE

 

All goods held for sale on GTA’s premises and in our custody will be held insured against the risk of fire, burglary, water damage and loss, the value to be assessed by GTA’s or their appointed assessors at Auction reserve price or the estimated price if no reserve has been agreed. Liability will not be accepted if the goods received have been insufficiently packed.

 

13. RESERVES

 

13.1 All goods are put up for sale WITHOUT RESERVE unless instructions are received by GTA prior to the commencement of the sale. The Auctioneer will reserve the right to agree the sale if within 10% of the agreed reserve.

13.2 In the event of the reserve price not being attained at Auction, GTA are empowered to sell after the Auction, by private treaty at the discretion of the Auctioneer, so long as the goods remain on GTA’s premises (including the venue used for the Auction itself). Such a sale by private treaty would be subject to the agreed reserve and the 10% discretion.

13.3 Where a Lot(s) is offered for auction in a sale with a reserve, and that lot(s) does not sell because the reserve price is not reached, it shall be at GTA’s discretion to re-enter the Lot(s) in a subsequent sale at a reduced reserve. This will be confirmed with the Seller before the subsequent sale and agreement sought. In the event that no agreement is reached, the Seller must collect the item(s) within three working days of that conversation or notification.

13.4 If GTA are given instructions by the Seller to sell a Lot at a certain reserve, and GTA notifies the Seller in advance of the sale that they do not think that reserve will be reached, but at the instruction of the Seller that it should be entered into the sale in any event. Then in the event of that lot failing to sell because it had not reached its reserve price, a charge of 15% of the reserve price shall be made to the Seller.

13.5 GTA at their discretion will not place a reserve on a Lot with a lower estimate of less than £10 in any sale.

13.6 The Seller may not bid on any lot which they are personally selling in order to advance the bid to the stated reserve.

 

14. SELLERS WHO ARE REGISTERED FOR VAT

 

A Seller who consigns any Lot(s) which is an asset of the Seller’s business must disclose to GTA whether or not he is a registered person for Value Added Tax purposes. The Seller must supply their registered number where appropriate.

 

15. ARTIST’S RESALE RIGHTS(“droit de suite”) 

 

Royalties, where necessary, falls to the liability of the Buyer.

 

16. PHOTOGRAPHY AND ILLUSTRATION

 

The Seller gives full and absolute rights to photograph any Lot consigned to GTA for sale for the purpose of illustrating the auction catalogue, advertisements in newspapers and magazines, and GTA’s website.

 

17. SALE RESULTS AND FUTURE MARKETING

 

The seller authorises GTA to publish results of sale of any lot consigned to GTA for sale, and to use photographs and sale result of any lot in any future newspaper, magazine, or internet advertisement, on GTA’s website, or in any of GTA’s marketing material.

 

18. COMMISSION BIDS

 

The seller agrees to GTA accepting commission bids on behalf of any Buyer, subject to the terms and conditions imposed upon the Buyer in this respect.

 

19. CONSUMER PROTECTION ACT 1987 (ELECTRICAL APPLIANCES):

 

To conform to this Act the Seller authorises GTA to test all electrical appliances which are entered into the sale. The charge for this test, to be paid by the Seller, is £2.50 for small items and £6.50 for large items. Except for antique items, electrical appliances which do not pass the safety test cannot be sold. 

 

20. DIVULGENCE TO HMRC

 

We will supply details, where requested by HMRC, regarding lots sold in excess of £25,000 under Schedule 23 to Finance Act 2011, or regarding any other enquiries they may make.

 

21. PRIVATE TREATY AND CONSUMER LEGISLATION

 

Private treaty sales made under these Terms are deemed to be sales by auction for purposes of consumer legislation.

 

22. ENGLISH LAW APPLIES TO THE INTERPRETATION OF THESE TERMS FOR SELLERS

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