Live bidding may start higher or lower
Buyer's Premium
£0 - 150,000:27.0%
£150,001+:21.0%
Bidding Increments
| From: | To: | Increment: |
|---|
| £0 | £199 | £10 |
| £200 | £319 | £20 |
| £320 | £379 | £30 |
| £380 | £419 | £20 |
| £420 | £479 | £30 |
| £480 | £499 | £20 |
| £500 | £999 | £50 |
| £1,000 | £1,999 | £100 |
| £2,000 | £3,199 | £200 |
| £3,200 | £3,799 | £300 |
| £3,800 | £4,199 | £200 |
| £4,200 | £4,799 | £300 |
| £4,800 | £4,999 | £200 |
| £5,000 | £9,999 | £500 |
| £10,000 | £19,999 | £1,000 |
| £20,000 | £31,999 | £2,000 |
| £32,000 | £37,999 | £3,000 |
| £38,000 | £41,999 | £2,000 |
| £42,000 | £47,999 | £3,000 |
| £48,000 | £49,999 | £2,000 |
| £50,000 | £99,999 | £5,000 |
| £100,000 | £199,999 | £10,000 |
| £200,000 | £319,999 | £20,000 |
| £320,000 | £379,999 | £30,000 |
| £380,000 | £419,999 | £20,000 |
| £420,000 | £479,999 | £30,000 |
| £480,000+ | | £20,000 |
CONDITIONS OF SALE
1. Definitions
In these Conditions:
(a) "auctioneer" means the firm of Dreweatts or its authorised auctioneer, as appropriate;
(b) "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;
(c) "hammer price" means the level of bidding reached (at or above any reserve) when the auctioneer brings down the hammer;
(d) "terms of consignment" means the stipulated terms and rates of commission on which Dreweatts and Bloomsbury Auctions accepts instructions from sellers or their agents;
(e) "total amount due" means the hammer price in respect of the lot sold together with any premium, Value Added Tax chargeable and any additional charges payable by a defaulting buyer under these Conditions;
(f) "sale proceeds" means the net amount due to the seller, being the hammer price of the lot sold less commission at the stated rate, Value Added Tax chargeable and any other amounts due to us by the seller in whatever capacity and however arising;
(g) "You", "Your", etc. refer to the buyer as identified in Condition 2.
(h) The singular includes the plural and vice versa as appropriate.
2. Bidding procedures and the Buyer
(a) Bidders are required to register their particulars before bidding and to satisfy any security arrangements before entering the auction room to view or bid;
(b) 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 Lot during the course of the auction or otherwise. The auctioneer shall act reasonably in exercising this discretion.
(c) Bidders shall be deemed to act as principals. (2) Our right to bid on behalf of the seller is expressly reserved up to the amount of any reserve and the right to refuse any bid is also reserved.
3. Increments.
Bidding increments shall be at the auctioneer's sole discretion.
4. The purchase price. together with a premium thereon of 28.8% which shall include VAT on the premium at the rate imposed by law. The buyer will also be liable for any royalties payable under Droit de Suite as set out under Information for Buyers.
5. Value Added Tax. Value Added Tax on the hammer price is imposed by law on all items affixed with an asterisk or double asterisk. Value Added Tax is charged at the appropriate rate prevailing by law at the date of sale and is payable by buyers of relevant Lots. (Please refer to "Information for Buyers" for a brief explanation of the VAT position).
6. Payment (1) Immediately a Lot is sold you will:
(a) give to us, if requested, proof of identity, and
(b) pay to us the total amount due or in such other way as is agreed by us.
(2) Any payments by you to us may be applied by us towards any sums owing from you to us on any account whatever without regard to any directions of you or your agent, whether express or implied.
7. Title and collection of purchases
(1) The ownership of any Lots purchased shall not pass to you until you have made payment in full to us of the total amount due.
(2) You shall at your own risk and expense take away any lots that you have purchased and paid for not later than 3 working days following the day of the auction or upon the clearance of any cheque used for payment after which you shall be responsible for any removal, storage and insurance charges.
(3) No purchase can be claimed or removed until it has been paid for.
(4) Dreweatts can accommodate packing and shipping for certain items. For lots they are unable to provide this service for, successful buyers must make these arrangements independently, though the saleroom may be able to suggest specialist shipping companies who can advise buyers, this advice is not a recommendation and the saleroom is not liable for any aspect of the packaging and shipping process. Please note that the cost of packaging and shipping depends on the size/weight of the item(s) purchased, insurance requirements, and the shipping destination, not on the value of the item(s) purchased. Please note that any items not collected within one week of the sale date may be automatically removed to commercial storage and subject to a storage charge.
8. Remedies for non-payment or failure to collect purchases
(1) If any Lot is not paid for in full and taken away in accordance with these Conditions or if there is any other breach of these Conditions, we, as agent for the seller and on our own behalf, shall at our absolute discretion and without prejudice to any other rights we may have, be entitled to exercise one or more of the following rights and remedies:
(a) to proceed against you for damages for breach of contract;
(b) to rescind the sale of that Lot and/or any other Lots sold by us to you;
(c) to resell the Lot (by auction or private treaty) in which case you 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 your expense and, in the case of storage, either at our premises or elsewhere;
(e) to charge interest at a rate not exceeding 1.5% per month on the total amount due to the extent it remains unpaid for more than 3 working days after the sale;
(f) to retain that or any other Lot sold to you until you pay the total amount due;
(g) to reject or ignore bids from you or your 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 you towards the settlement of the total amount due and to exercise a lien (that is a right to retain possession of) any of your property in our possession for any purpose until the debt due is satisfied.
(2) We shall, as agent for the seller and on our own behalf pursue these rights and remedies only so far as is reasonable to make appropriate recovery in respect of breach of these conditions
9. Third party liability. All members of the public on our premises are there at their own risk and must note the lay-out of the accommodation and security arrangements. Accordingly neither the auctioneer nor our employees or agents shall incur liability for death or personal injury (except as required by law by reason of our negligence) or similarly for the safety of the property of persons visiting prior to or at a sale.
10. Commission bids.
Whilst prospective buyers are/\strongly advised to attend the auction and are always responsible for any decision to bid for a particular Lot and shall be assumed to have carefully inspected and satisfied themselves as to its condition we will if so instructed clearly and in writing execute bids on their behalf. Neither the auctioneer nor our employees or agents shall be responsible for any failure to do so. Where two or more commission bids at the same level are recorded we reserve the right in our absolute discretion to prefer the first bid so made.
11. Warranty of title and availability. The seller warrants to the auctioneer and you that the seller is the true owner of the property consigned or is properly authorised by the true owner to consign for sale and is able to transfer good and marketable title to the property free from any third party claims.
12. Agency.
The auctioneer normally acts as agent only and disclaims any responsibility for default by sellers or buyers.
13. Terms of sale. The seller acknowledges that Lots are sold subject to the stipulations of these Conditions in their entirety and on the Terms of Consignment as notified to the consignor at the time of the entry of the Lot.
14. Descriptions and condition
(1) Whilst we seek to describe lots accurately, it may be impractical for us to carry out exhaustive due diligence on each lot. Prospective buyers are given ample opportunities to view and inspect before any sale and they (and any independent experts on their behalf) must satisfy themselves as to the accuracy of any description applied to a lot. Prospective buyers also bid on the understanding that, inevitably, representations or statements by us as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price involve matters of opinion. We undertake that any such opinion shall be honestly and reasonably held and accept liability for opinions given negligently or fraudulently. Subject to the foregoing neither we the auctioneer nor our employees or agents nor the seller accept liability for the correctness of such opinions and all conditions and warranties, whether relating to description, condition or quality of lots, express, implied or statutory, are hereby excluded. Dreweatts and Bloomsbury Auctions is not liable for damage to gilded picture frames, plaster picture frames or picture frame glass; if the Lot is or becomes dangerous, we may dispose of it without notice to you in advance in any manner we see fit and will be under no liability for doing so this Condition is subject to the next following Condition concerning deliberate forgeries and applies save as provided for in paragraph 6 "information to buyers".
(2) Private treaty sales made under these Conditions are deemed to be sales by auction for purposes of consumer legislation.
15. Forgeries. Notwithstanding the preceding Condition, any Lot which proves to be a deliberate forgery (as defined) may be returned to us by you within 21 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 we are satisfied from the evidence presented that the Lot is a deliberate forgery we shall refund the money paid by you for the Lot including any buyer's premium provided that
(1) if the catalogue description reflected the accepted view of scholars and experts as at the date of sale or
(2) you personally are not able to transfer a good and marketable title to us, you shall have no rights under this condition. The right of return provided by this Condition is additional to any right or remedy provided by law or by these Conditions of Sale.
16. Data Protection.
We will hold and process any personal data in relation to you in accordance with our current privacy policy, a copy of which is available on our website http://www.dreweatts.com/cms pages/privacy.
General
17. We shall have the right at our discretion, to refuse admission to our premises or attendance at our auctions by any person.
18. (1) Any right to compensation for losses liabilities and expenses incurred in respect of and as a result of any breach of these Conditions and any exclusions provided by them shall be available to the seller and/or the auctioneer as appropriate.
(2) Such rights and exclusions shall extend to and be deemed to be for the benefit of employees and agents of the seller and/or the auctioneer who may themselves enforce them.
19. Any notice to any buyer, seller, bidder or viewer may be given by first class mail, email or Swiftmail in which case it shall be deemed to have been received by the addressee 48 hours after posting.
20. Special terms may be used in catalogue descriptions of particular classes of items in which case the descriptions must be interpreted in accordance with any glossary appearing at the commencement of the catalogue.
21. Any indulgence extended to bidders, buyers or sellers by us notwithstanding the strict terms of these Conditions or of the Terms of Consignment shall affect the position at the relevant time only and in respect of that particular concession only; in all other respects these Conditions shall be construed as having full force and effect.
22. English law applies to the interpretation of these Conditions.
Credit & Debit Cards
Debit cards drawn on a UK bank and registered to a UK billing address. There is no additional charge for purchases made with these cards. Debit cards drawn on an overseas bank or deferred debit cards will be subject to a 3% surcharge.
Condition
1. The Auction House has produced this catalogue (below:" The Catalogue"), listing the art objects offered for sale, in their order of appearance at the auction. This Catalogue contains a description and photograph of each item and two price estimates which, in the Auction House's opinion, are the range of valuation of the item. All of the items included in the auction are subject to a reserve price. The reserve price is the confidential minimum price agreed upon between the auction house and the consigner. The reserve price will not exceed the lower estimate.
2. The buyer's registration to participate in the auction constitutes confirmation that the buyer has read the conditions of this document and has agreed to them.
3. Before making a decision to purchase any item in the Catalogue, the buyer must carry out an independent examination of all the details concerning the item, its origin, condition, nature and value and any other detail relevant to the decision concerning the purchase of the item.
4. Participation in the auction is conditional upon receiving an auction paddle from the Auction House.
5. A buyer who wishes to participate in the auction by telephone and/or by means of an authorized representative on his behalf must contact the Auction House at least 24 hours before the auction and arrange the manner of participation in the auction and signature of the required forms.
6. A buyer who wishes to purchase an item without being present at the auction and/or participate on the telephone must complete and sign a bid form and deliver it to the Auction House before the day of the auction. Delivery of the bid form signed by the buyer shall be regarded as the buyer's bid within the framework of the auction.
7. The auction shall be conducted by the auctioneer appointed by the Auction House.
8. The auctioneer may at any time add or remove an item from the auction and/or update the details concerning an item. All the updates shall be publicized on the day of the auction.
9. At the auctioneer's strike of the hammer and declaration of the winning bid, the buyer whose bid has been declared the winner shall be regarded as having purchased the item at the price declared by the auctioneer (below: "the Winning Buyer" and "the Purchase Price").
10. The Winning Buyer shall pay the Auction House the Purchase Price and in addition to the Purchase Price the Winning Buyer shall also pay the Auction House commission in the amount of 20% + value-added tax (VAT) on the commission only, not later then 5 business days from the day of the declaration of the buyer's bid as the winning bid.
11. An item which appears in the Catalogue and is marked is an item which arrived from overseas for the auction. The tax laws of Israel apply to such an item, which means the Winning Buyer shall have to pay value added tax on the purchase price and on the Auction House's commission.
12. Any item which is purchased by a non Israeli (overseas) resident and the consideration for is paid in foreign currency, and is taken out of Israel's borders, is exempt from payment of value-added tax.
13. Payment shall be made to the Auction House in New Israeli Shekels according to the representative rate of exchange of the dollar known on the day of payment, but not less than the representative rate of exchange of the dollar which was known on the day of the auction, or alternatively in US dollars. Credit card payments will be charged an addition of 2.5% on total payment.
14. Delay in making payment shall oblige the winning buyer to pay interest at the rate of 2% per month, as well as linkage differentials to the rate of the dollar until the day of actual payment, without derogating from any right and/or relief available to the Auction House against the Winning Buyer because of delay in payment, which shall be regarded as material breach of the Winning Buyer's obligations. In the event the Winning Buyer has not yet fulfilled his obligations entirely within 14 days from the day of the auction, the Auction House shall be entitled to sell the item to another buyer or return it to its owner, without derogating from any relief and/or right available to the Auction House due to the damage caused by the breach of the buyer's obligations.
15. The Winning Buyer shall be obliged to take possession of the item from the Auction House not later then 7 days from the day of the auction, and on condition that he has paid the full consideration as detailed above. Delay in taking the item shall render the Winning Buyer liable for storage and insurance fees.
16. The Buyer must verify the authenticity of the item independently, and if he has proof that the item is a fake, he must furnish the Auction House with it within 14 days from the day of the auction and must at the same time return the item intact and in good order to the Auction House. If the buyer's allegation is proved to the satisfaction of the Auction House and he has returned the item as stated above, he shall be entitled to receive back the consideration which he paid and any claims and/or demands by the buyer against the Auction House in this matter shall thereby be settled in a final and absolute manner. It has been made clear to the buyer and it is his duty to carry out the examination and to furnish proof of lack of authenticity at the time specified in this clause, as after such time the consideration shall be transferred to the seller and the Auction House cannot guarantee its return to the buyer.
17. The court in Tel Aviv shall have exclusive jurisdiction to adjudicate any claims regarding this agreement.
Commission Charges
Buyer's Premium 24% of the hammer price plus VAT (28.8% including VAT) for items up to £150,000, 18% (21.6% including VAT) on the balance of items with a hammer price of £150,001 up to and including £1,000,000, and 12% of the hammer price plus VAT (14.4% including VAT) in excess of £1,000,001. Buyers will pay an additional live bidding charge of 3% of the hammer price if lots are successfully purchased online.
VAT
VAT. (*) 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 20% on importation into the UK. The double 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.
Payment
Methods of Payment. Any cheques tendered will need to be cleared before removal of the goods is permitted. The following methods of payment are acceptable:
Sterling cheque to be drawn on a UK bank and made payable to 'Bloomsbury Auctions'. It will be necessary to allow at least five working days for the cheque to clear before collecting your purchases.
Bank transfer. All transfers must state the relevant sale number, lot number and your bid / paddle number. If transferring from a foreign currency, the amount we receive must be the total due in pounds sterling (after currency conversion and the deduction of any bank charges). Our bank details can be found on the reverse of your invoice or in the sale catalogue under 'Important Notices'.
Debit cards drawn on a UK bank and registered to a UK billing address. There is no additional charge for purchases made with these cards. Debit cards drawn on an overseas bank or deferred debit cards will be subject to a 3% surcharge.
Sterling cash payments of up to £8,000 and debit cards payments can be made at the Cashier's Office, either during or after the sale.
Collection or Delivery
Before being able to collect your purchases you are required to pay the hammer price, plus the applicable commissions, and obtain a receipt acknowledging payment. Collection of the purchased lots is at the purchaser's risk and expense and whilst Dreweatts do not provide packing and despatch service we can suggest some carriers. Dreweatts also require that all purchased items are collected within three days of the sale to avoid a storage charge being applied.
Collection or Delivery
Before being able to collect your purchases you are required to pay the hammer price, plus the applicable commissions, and obtain a receipt acknowledging payment. Collection of the purchased lots is at the purchaser's risk and expense and whilst Dreweatts do not provide packing and despatch service we can suggest some carriers. Dreweatts also require that all purchased items are collected within three days of the sale to avoid a storage charge being applied.
