TERMS & CONDITIONS
A buyer's premium amounting to 20% of the winning bid plus a 5% live bid amount that is included in the 20% - plus shipping, packing material and insurance charges will be added to the purchase price of each lot. The winning bidders acknowledge and agree to pay 20% premium on top of the winning bid price.
INFORMATION FOR BUYERS
1. Introduction. The following informative notes are intended to
assist Buyers, particularly those inexperienced or new to our
salerooms. All sales are conducted on our printed Conditions
of Sale which are readily available for inspection and normally
accompany catalogues. Our staff will be happy to help you if
there is anything you do not fully understand.
2. Agency. As auctioneers we usually contract as agents for
the seller whose identity, for reasons of confidentiality, is not
normally disclosed. Accordingly if you buy your primary contract
is with the seller.
3. Estimates. Estimates are designed to help buyers gauge what
sort of sum might be involved for the purchase of a particular lot.
The lower estimate may represent the reserve price and certainly
will not be below it. Estimates do not include the Buyer's
Premium or VAT (where chargeable). Estimates are prepared
some time before the sale and may be altered by announcement
before the sale. They are in no sense definitive.
4. Buyer's Premium. The Conditions of Sale oblige buyers to
pay a buyer's premium at 23.4% which shall include VAT on the
premium at the rate imposed by law (see below). There is a
surcharge when bidding on the internet.
5. VAT. A 'dagger' symbol indicates that VAT is payable by the
purchaser at the standard rate (presently 20%) on the hammer
price as well as being an element in the buyer's premium. This
imposition of VAT is likely to be because the seller is registered
for VAT within the European Union and is not operating the
Dealers Margin Scheme or because VAT is due at 15% on
importation into the UK. The double 'dagger' symbol indicates
that the lot has been imported from outside the European Union
and the present position is that these lots are liable to a reduced
rate of VAT (5%) on the gross lot price (i.e. both the hammer
price and the buyer's premium). Lots which appear without
either of the above symbols indicate that no VAT is payable on
the hammer price. This is because such lots are sold using the
Auctioneers' Margin Scheme and it should be noted that the
VAT included within the Premium is not recoverable as input tax.
6. We are, primarily, agents for the seller. We are dependent on
information provided by the seller and whilst we may inspect
lots and act reasonably in taking a general view about them we
are normally unable to carry out a detailed or any examination
of lots in order to ascertain their condition in the way in which it
would be wise for a buyer to do. Intending buyers have ample
opportunity for inspection of goods and, therefore, accept
responsibility for inspecting and investigating lots in which
they may be interested. Please note carefully the exclusion of
liability for the condition of lots contained in the Conditions
of Sale. Neither the seller nor we, as the auctioneers, accept
any responsibility for their condition. In particular, mechanical
objects of any age are not guaranteed to be in working order.
However, in so far as we have examined the goods and make a
representation about their condition, we shall be liable for any
defect which that examination ought to have revealed to the
auctioneer but which would not have been revealed to the buyer
had the buyer examined the goods. Additionally, in specified
circumstances lots misdescribed because they are 'deliberate
forgeries' may be returned and repayment made. There is a 3
week time limit. (The expression 'deliberate forgery' is defined in
our Conditions of Sale).
7. Electrical goods. These are sold as 'antiques' only and if
bought for use must be checked over for compliance with safety
regulations by a qualified electrician first.
8. Export of goods. The export of any lot from the UK or import
into any other country may be subject to one or more export or
import licences being granted. It is the buyers responsibility 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. Ask us if you
need help.
9. Bidding. Bidders may be required to register before the sale
commences and lots will be invoiced to the name and address
on the registration form. Some form of identification may be
required if you are unknown to us. Please enquire in advance
about our arrangements for telephone bidding.
10. Commission bidding. Commission bids may be left with the
auctioneers indicating the maximum amount to be bid excluding
buyers' premium. They will be executed as cheaply as possible
having regard to the reserve (if any) and competing bids. If two
buyers submit identical commission bids the auctioneers may
prefer the first bid received. Please enquire in advance about our
arrangements for the leaving of commission bids by telephone
or FAX.
11. Methods of Payment. If a purchaser is unknown to the
auctioneers and is intending to pay by credit or debit card we
will require the card holder to attend in person with suitable
photographic identification, otherwise payment is required by
BACS/CHAPS or electronic bank transfer. As a general rule any
cheques tendered will need to be cleared before removal of the
goods is permitted. Please discuss with our Office in advance of
the sale if other methods of payment are envisaged.
Collection and storage.
Please note what the Conditions of Sale state
about collection and storage. It is important that goods are paid for
and collected promptly. Any delay may involve the buyer in paying
storage charges.
Methods of Payment
All payments by mail, bank transfer, etc, must be made in sterling. The
following methods of payment are available:
CASH; CHEQUE; STERLING BANK DRAFT; DIRECT BANK
TRANSFER IN STERLING; CREDIT CARD (VISA AND ACCESS-
MASTERCARD ISSUED IN THE UK ONLY); DEBIT CARDS
(SWITCH, CONNECT, ETC)
Cheques and drafts should be made payable to Bearnes Hampton &
Littlewood.
Bank transfers should be made to:
National Westminster Bank,
59 High Street, Exeter. EX4 3DP.
Sort Code: 56-00-49
For all the account of Bearnes, Hampton & Littlewood.
Account Number 32303483.
IBAN Number GB88 NWBK 560049 32303483.
SWIFT Number NWBK GB2L
Payments by Visa and Access/MasterCard will be subject to a
surcharge of 2% of the total amount payable. There is no surcharge for
debit card payments.
Clearance Times
Sterling cheques drawn on UK banks and supported by a cheque card
valid for the amount due can be cleared immediately. All other sterling
cheques drawn on UK banks will generally clear on the fifth working
day after receipt.
Sterling bank drafts drawn on UK banks can generally be cleared
immediately.
Bank transfers clear as soon as our bank receives funds (which does
not happen instantaneously after payment instructions are given).
Credit and debit card payments can be cleared immediately, subject
to paragraph 11 above.
ARTIST'S RESALE RIGHT ("DROIT DE SUITE")
If a lot is affected by this right it will be identified with the symbol "D" next to the lot number. The buyer agrees to pay Bearnes Hampton & Littlewood an amount equal to the resale royalty and we 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 Euro)
4.00% up to 50,000
3.00% between 50,000.1 and 200,000
1.00% between 200,000.01 and 350,000
0.50% between 350,000.01 and 500,000
0.25% in excess of 500,000
Invoices will, as usual, 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.
