Important Information for Buyers
Important Information for Buyers
Definition Auctioneers" Thomas Del Mar Ltd, Matthew Barton Ltd and 25 Blythe Road Ltd trading as Olympia Auctions. For other auctioneer's at 25 Blythe Road, such as Charles Miller Ltd, please see their website for their Conditions of Business
All lots are offered subject to the Conditions of Business reproduced on the website www.OlympiaAuctions.com, and printed in the back of the auction catalogue
A Buyer's Premium of 25% is applicable to all lots. The Buyer's Premium is subject to VAT at the standard rate (currently 20%). Unless otherwise indicated lots are offered for sale under the auctioneer's margin scheme and VAT on the Buyer's Premium is payable by all Buyers.
Unless otherwise stated all lots are subject to a reserve set at the low estimate or below. Estimates are published as a guide only and are subject to review. The actual Hammer Price of a lot may well be higher or lower than the range of figures given and there are no fixed "starting prices".
The Auctioneers will be pleased to execute bids on behalf of those clients unable to attend the sale in person, subject to our Conditions of Business. All bids must be submitted in writing in good time and lots will always be purchased as cheaply as possible (depending on any other bids received, reserves and competition). This service is offered free of charge.
Olympia Auctions are pleased to offer free online bidding directly through their website at www.OlympiaAuctions.com. Online bidding platforms with an additional surcharge are available for this auction, please see the relevant platforms for further details.
The Auctioneers may supply quotations for shipping of purchases, including transit insurance and VAT refund administration fees, and where possible will endeavour to assist in the application for any export licenses which may be required. Buyers are reminded that it is their responsibility to comply with UK export regulations and with any local import requirements. Olympia Auctions are not responsible for delays in delivery which might be caused by shippers or local customs.
Symbols
VAT
'‡' For items over 100 years old that have been imported from outside the European Union (EU), to be sold at auction under Temporary Import Rules. When released to the Buyer within the EU, including the UK, the Buyer will become the importer and must pay VAT at the rate of 5% on the Hammer Price and 20% on the Buyer's Premium. Buyers outside the EU will normally be eligible to obtain a refund in respect of temporary import VAT, upon satisfactory documentary evidence of exportation. Further information on this matter is available on request.
'?' For items under 100 years old: Import VAT of 20% payable on whole Hammer Price, less premium (a further 20% is payable on the premium.)
'†' For lots sold from WITHIN the EU, if the client is VAT registered and not using the Auctioneer's Special Scheme, full VAT at 20% is levied on the Hammer Price and premium.
'?' For items with No Reserve.
Ivory and Restricted Materials (CITES)
'~' Lots marked with the symbol ~ have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import or export. As the Auctioneers of these articles, the Auctioneers undertake to comply fully with CITES and DEFRA regulation. Buyers are advised to inform themselves of all such regulations and should expect the exportation of items to take some time to arrange. The information is made available for the convenience of the Bidder and the absence of the symbol is not a warranty that there are no restrictions regarding import or export of the Lot. The Auctioneers accept no liability for any lots which may be subject to CITES but have not been identified as such.
Premium Lots
'ø' Lots marked with the symbol 'ø' are "Premium Lots" and prospective bidders must complete the required Premium Lot preregistration application and deliver to the Auctioneers such necessary financial references, guarantees, deposits and/or such other security as the Auctioneers may in their absolute discretion require, as security for the bid. The Auctioneers' decision whether to accept any pre-registration application shall be final. We recommend you contact the Auctioneers at least 3 working days prior to the relevant sale in order to process the pre-registration, and please bear in mind that we are unable to obtain financial references over weekends or public holidays. Online bidding services are not available for premium lots.
Artist Resale Right
The Artist's Resale Right (ARR) entitles creators ('authors') of original works of art (including paintings, engravings, sculpture and ceramics) to a royalty each time one of their works is resold through an auction house or art market professional.
The right to this royalty lasts for the same period as copyright, so since January 2012 ARR has applied to qualifying works by artists who have been dead for fewer than 70 years.
ARR derives from a European Directive and came into force in the UK in 2006. The right only applies when the sale price reaches or exceeds the sterling equivalent of €1,000 and is calculated on a sliding scale.
'•' For lots marked with the symbol '•' that are sold for a Hammer Price of €1,000 or greater (converted into GBP using the European Central Bank Reference rate prevailing on the Auction End date) an additional premium will be payable by the Buyer to cover the payment of royalties under the Artist Resale Right Regulations 2006. The additional premium will be a percentage of the amount of the Hammer Price calculated in accordance with the table below, and shall not exceed the equivalent of €12,500.
Royalty
Resale price
• up to €50,000 - 4%
• between €50,000.01 and €200,000 - 3%
• between €200,000.01 and €350,000 - 1%
• between €350,000.01 and €500,000 - 0.5%
• in excess of €500,000 - 0.25%
This scale is also cumulative in much the same way as income tax is calculated. For example, the royalty payable for an artwork sold for €200,000 would amount to €6,500. This is calculated as follows:
1st tier €0 to €50,000 will attract a royalty of 4% ie €2,000
2nd tier €50,001 to €200,000 will attract a royalty of 3%, i.e. €4,500
Royalties are also capped so that the total amount of the royalty paid for any single sale of a work cannot exceed €12,500.
ARR is exempt of VAT.
Cataloguing Practice
PLEASE NOTE THAT ALL MEASUREMENTS ARE APPROXIMATE AND THAT ILLUSTRATIONS ARE NOT TO SCALE
Condition is not normally recorded and all lots are sold as viewed. Condition reports can be requested prior to sale. Whilst the Auctioneers are pleased to provide a general report of condition, the Auctioneers are not professional conservators or restorers and any statements made are merely subjective, qualified opinion. Prospective Buyers should satisfy themselves in person wherever possible as to the condition of a lot, or ask an agent to inspect it for them.
Ceramics
Obvious faults may be recorded in italics at the end of a description for ceramics.
Clocks and Watches
All Lots are sold 'as is', and the absence of any reference to the condition of a clock or watch does not imply that the Lot is in good condition and without defects, repairs or restorations. Most clocks and watches have been repaired in the course of their normal lifetime and may now incorporate parts not original to them. Furthermore, the Auctioneers make no representation or warranty that any clock or watch is in working order. As clocks and watches often contain fine and complex mechanisms, the Bidder should be aware that a general service, change of battery or further repair work, for which the Buyer is solely responsible, may be necessary. The Bidder should be aware that the importation of watches such as Rolex, Frank Muller and Corum into the United States is highly restricted. These watches may not be shipped to the USA and can only be imported personally.
Display Accessories
Please note that armour stands and many of the display mounts used in the catalogue(s) and the sale exhibition(s) may be made available to the successful Buyer of the relevant lot(s). Please contact us for prices and further details.
Firearms
Please note that all bore sizes are approximate.
Jewellery
It is common practice for many gemstones to be treated by a variety of methods to enhance their appearance and the international jewellery trade has generally accepted these methods. Although heat enhancement of colour is usually permanent, in some cases this could affect the durability of a gemstone. Oiled gemstones may need re-oiling after a certain period. If no gemmological report is published in the catalogue, prospective Buyers should be aware that the gemstones or pearls could have been enhanced by some method.
Photographs (in addition to explanations of categorising terms in relation to works Attributed to….. artists as stated in our Cataloguing Practice).
'The date given is that of the image (negative). Where no further date is given, this indicates that the photographic print is vintage (the term 'vintage' may also be included in the Lot description). A vintage photograph is one which was made within approximately 5-10 years of the negative. Where a second, later date appears, this refers to the date of printing. Where the exact printing date is not known, but understood to be printed later, 'printed later' will appear in the Lot description.
Unless otherwise specified, dimensions given are those of the piece of paper on which the image is printed, including any margins. Some photographs may appear in the Catalogue without margins illustrated.
All photographs are sold unframed unless stated in the Lot description.
Pictures
A work catalogued with the name(s) or recognised designation of an artist, without any qualification, is, in our opinion, a work by the artist. In other cases, the following expressions with the following meanings are used:
"Attributed to……" In our opinion probably a work by the artist in whole or in part.
"Studio of…." "Workshop of…." In our opinion a work executed in the studio or workshop of the artist, possibly under his supervision.
"Circle of…." In our opinion a work of the period of the artist and showing his influence.
"Follower of…" In our opinion a work executed in the artist's style but not necessarily by a pupil.
"Manner of…." In our opinion a work executed in the artist's style but of a later date.
"After…." In our opinion a copy (of any date) of a work of the artist.
"Signed….", "Dated….", "Inscribed…." In our opinion the work has been signed/dated/inscribed by the artist. The addition of a question mark (?) adds an element of doubt.
"Bears signature…", "Bears date….", "Bears inscription…." In our opinion the signature/date/inscription/stamp is by a hand other than that of the artist.
Silver, Gold and Precious Metals
Weights may only be accurate to within 5 grams. Weights shown as '(*oz)' are in Troy Ounces and usually rounded down to the full ounce.
Payment
Payment is due in sterling at the conclusion of the sale and before purchases can be released. Please note that we require seven days to clear sterling cheques unless special arrangements have been made in advance of the sale. The Auctioneers are pleased to accept UK debit cards; we can no longer take payment from credit cards and international debit cards. Cash and UK registered debit card payments above £6,000 and "card holder not present" payments above £2,000 will not be accepted without prior arrangement.
Electronic transfers may be sent directly to the relevant bank account:
Thomas Del Mar Ltd
HSBC Bank Plc
38 High Street
Dartford
Kent
DA1 1DG
United Kingdom
IBAN Number: GB18HBUK40190481632140
BIC: HBUKGB4B
Sort Code: 40-19-04
Account Number: 81632140
Account Name: Thomas Del Mar Ltd
VAT Registration Number: 867924960
Matthew Barton Ltd
HSBC Bank Plc
38 High Street
Dartford
Kent
DA1 1DG
United Kingdom
IBAN Number: GB90HBUK40190491814001
BIC: HBUKGB4B
Sort Code: 40-19-04
Account No: 91814001
Account Name: Matthew Barton Ltd
VAT Registration Number: 972118224
25 Blythe Road Ltd (trading as Olympia Auctions)
HSBC Bank
38 High Street
Dartford
Kent
DA1 1DG
United Kingdom
IBAN Number: GB39HBUK4019042203319
BIC: HBUKGB4B
Sort Code: 40-19-04
Account Number: 22033119
Account Name: 25 Blythe Road Ltd
VAT Registration Number: 144181627
Storage
On receipt of cleared funds, lots can be collected from the premises at 25 Blythe Road, London, W14 0PD. Please note that collection may be made during working hours only, usually Monday to Friday 9.30 to 17.00. All lots should be cleared within 10 working days of the auction date, after which they will be transferred to a third party for storage. A transfer fee of £25 per lot plus all incurred transfer and storage costs due to the third party will be payable prior to release.
Authenticity Guarantee
If the Auctioneers sell an item of Property which is later shown to be a "Counterfeit", subject to the terms below the Auctioneers will rescind the sale and refund the Buyer the total amount paid by the Buyer to the Auctioneers for that Property, up to a maximum of the Purchase Price.
The Guarantee lasts for one (1) year after the date of the relevant auction, is for the benefit of the Buyer only and is non-transferable.
"Counterfeit" means an item of Property that in the Auctioneers reasonable opinion is an imitation created with the intent to deceive over the authorship, origin, date, age, period, culture or source, where the correct description of such matters is not included in the catalogue description for the Property.
Property shall not be considered Counterfeit solely because of any damage and/or restoration and/or modification work (including, but not limited to, recolouring, tooling or repatinating).
Please note that this Guarantee does not apply if either:-
(i) the catalogue description was in accordance with the generally accepted opinions of scholars and experts at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions; or
(ii) the only method of establishing at the date of the sale that the item was a Counterfeit would have been by means of processes not then generally available or accepted, unreasonably expensive or impractical; or likely to have caused damage to or loss in value to the Property (in the Auctioneers reasonable opinion); or
(iii) there has been no material loss in value of the Property from its value had it accorded with its catalogue description.
To claim under this Guarantee, the Buyer must:-
(i) notify the Auctioneers in writing within one (1) month of receiving any information that causes the Buyer to question the authenticity or attribution of the Property, specifying the lot number, date of the auction at which it was purchased and the reasons why it is believed to be Counterfeit; and
(ii) return the Property to the Auctioneers in the same condition as at the date of sale and be able to transfer good title in the Property, free from any third party claims arising after the date of the sale.
The Auctioneers have discretion to waive any of the above requirements. The Auctioneers may require the Buyer to obtain at the Buyer's cost the reports of two independent and recognised experts in the relevant field and that are acceptable to the Auctioneers. The Auctioneers shall not be bound by any reports produced by the Buyer, and reserves the right to seek additional expert advice at its own expense. In the event the Auctioneers decides to rescind the sale under this Guarantee, it may refund to the Buyer the reasonable costs of up to two mutually approved independent expert reports, provided always that the costs of such reports have been approved in advance and in writing by the Auctioneers.
