Conditions of Sale
By signing a completed consignment form on submission of lots; all vendors agree to be bound by the following terms and conditions:
Commission: All Vendors, on entering lots for sale, as detailed on their signed consignment form agree to pay a commission to the Auctioneers at a variable rate on each lot sold.
The following commission rates apply to each individual lot sold – all rates quoted are subject to VAT (a minimum of £5 (Five pounds) plus V.A.T. per lot will be charged).
- 15% of the hammer price up to £1999
- 10% of the part of the hammer price £2000+
Loss/Damage Warranty: Unless otherwise instructed in writing the Auctioneers will, for a premium of 1%, cover all goods left on their premises against the risk of burglary, fire and water damage, theft and accidental breakage. Any claim arising will be processed by the Auctioneers on the basis of their estimation of the sale realisation figure that the goods concerned would have achieved. The Auctioneers shall not be liable for any damage to or theft of goods not insured. Exclusions from this cover include, but are not limited to: damage to gesso frames, deteriorating past restorations, deterioration of loose veneers, further loss to pre-existing worm damage, deterioration of book bindings, moth damage, deterioration of loose and flaking paint, etc.
Storage: The Auctioneers offer free storage of items delivered up to six weeks prior to sale, however reserve the right to make a charge for storing all goods delivered earlier than this or with insufficient instructions. Storage charges will also be applied to unsold goods left on their hands for more than seven days after the Vendor has received notification of sale results.
Reserves: Reserves must be confirmed in writing prior to the sale otherwise the Auctioneers will not be responsible for the application of reserves. Reserves will not be accepted on any lot deemed by the auctioneers to be of a value of less than £100 (one hundred pounds), and lots deemed below this value will be sold on an unreserved basis regardless of estimate. If reserves are set on lots above the Auctioneer’s advice and those lots are unsold a charge of 10% plus vat of that reserve price will be charged.
Withdrawn lots: Should a vendor decide to withdraw a lot from sale, this must, in all cases, be notified in writing to the auctioneers no later than 7 days prior to the sale date for General sales and no later than 14 days prior to the sale date for selected and fine art sales. Late withdrawal of lots once catalogued will incur Charges of 10% plus VAT of the estimated value or reserve price
Unsold Lots: Where any Lot fails to sell, the Vendor shall make arrangements to either re-offer the Lot for sale, or to collect it. If such arrangements are not made, the Auctioneers shall have the right to either offer the lot for sale at the following sale without reserve, or make arrangements to dispose of the items elsewhere should they be deemed unsaleable by the Auctioneer and any costs that might be incurred shall be the sole responsibility of the Vendor.
Payment: Settlement is normally made to a Vendor by BACS within 14 working days following the sale date. Payments will only be made in the name on the Vendor as stated on this consignment form. Any change in this payment method must be agreed with the Auctioneers upon consignment of items. The Auctioneers shall be entitled to withhold or set off any liability of the Vendor to the Auctioneers or their agents on any account against any sale proceeds otherwise due to the Vendor. (Such liabilities may include but are not limited to- Transport charges, storage charges, additional
advertising (where instructed), un-settled purchase accounts from current or past auctions, etc.) The Auctioneers act as agents only and are thus not liable for any default by the purchaser. The Auctioneers will pay the net proceeds of the sale to the Vendor, provided that the Auctioneers have been paid by the purchaser.
Applying to all: Third party liability The Auctioneers shall not be liable for any loss, damage or injury whatsoever occasioned to or sustained by any person during the period of public viewing at the auction sale, or before, during or after the sale itself, however the same may arise, unless arising from the negligence of an employee of the Auctioneers.