Buyer's conditions
POTBURYS
AUCTIONEERS & VALUERS
TEMPLE STREET, SIDMOUTH, EX10 9BN
TELEPHONE NUMBER: 01395 517300
e-mail - auctions@potburys.co.uk
www.potburysauctions.co.uk
TERMS FOR BUYERS AND CONDITIONS OF SALE
1. All sales are conducted subject to Potburys of Sidmouth Auctioneers and Valuers (hereafter "Potburys") Terms for Buyers and Conditions of Sale which are displayed around the saleroom and printed in the sale catalogues and published on the website. The Buyer agrees to be bound by the Terms for Buyers and the Conditions of Sale, and acknowledges that the Seller is to be bound by the Terms for Sellers.
2. DEFINITIONS "Buyer" means the person who makes the successful bid (as defined in clause 13.3) and also, where appropriate, any person making a bid (by whatever means, including live internet bidding, and whether present at the auction or not) or any visitor to the auction room intending to view the sale or bid. "Auctioneer" means Potburys or its authorised auctioneer
3. AGENCY Potburys usually contract as agents for the Seller, therefore the Buyer's primary contract is with the Seller. For reasons of confidentiality the identity of the seller is not normally disclosed.
4. BUYER'S PREMIUM A Buyer's premium of 16% is payable on the hammer price of each lot, with a minimum premium of £1.00. VAT is payable on the buyer's premium at the prevailing rate. For live internet bidding in an Antiques and Decorative Sale, an additional premium will apply to buyers bidding through www.the-saleroom.com or www.invaluable.co.uk or through any provider of live internet bidding, and the buyer agrees to be bound by the terms of the provider
5. RESERVES All bids shall be offers made upon the Terms for Buyers and Conditions of Sale. Certain lots in all sales may be subject to reserve prices.
6. BIDDER REGISTRATION AND IDENTIFICATION Anyone intending to bid is required, before the commencement of the sale, to supply their name and address and, if requested, their bank and other suitable references. Proof of identity such as a passport or photographic driving licence may be required. Potburys will then supply a bidding number which should be used when bidding. Lots will be invoiced to the name and address supplied on the registration form.
7. ESTIMATES Estimates are intended for guidance only. Estimates are not routinely published in the catalogues for fortnightly General Sales, but are usually published in the catalogues for seasonal Antiques and Decorative Sales. The lower estimate may represent the reserve price and will not be below it. Estimates do not include the Buyer's Premium or VAT. Estimates may be altered by announcement before the sale. This clause shall apply to estimates printed in the auction catalogues, published on Potburys' website (or on any website in which our catalogue is published), or supplied verbally by Potburys.
8. ARTIST'S RESALE RIGHT ("DROIT DE SUITE") If a Lot is affected by this right it will be identified with the symbol "^^" next to the lot number. The Buyer agrees to pay Potburys an amount equal to the resale royalty and Potburys 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 Euros):
4.00% up to 50,000
3.00% between 50,000.1 and 200,000
1.00% between 200,000.1 and 350,000
0.50% between 350,000.01 and 500,000
0.25% in excess of 500,000
Invoices will 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.
9. CATALOGUE DESCRIPTIONS AND CONDITION
9.1 All statements in catalogues, advertisements and brochures, and verbal statements made by Potburys, are statements of opinion only, and neither Potburys or the Seller accept any liability for the correctness of such opinions. This clause is subject to clause 11 concerning deliberate forgeries
9.2 The catalogue descriptions (or any statements in advertisements and brochures) will not necessarily reveal damage, repairs or imperfections, therefore it is strongly recommended that the buyer should inspect the lot in person prior to bidding. The absence of any reference to condition in the lot description does not imply that the lot is in good condition or free from damage or in working order. The buyer is reminded that this is an auction, not a shop. In the vast majority of instances, the items sold are secondhand. Mechanical objects, in particular, may not be in original working order. All lots are sold as found whether or not they are described 'as found' or 'A/F' in the catalogue description. Please ask a member of Potburys' staff if you would like help in moving a lot to examine it, or if you would like to examine a lot in daylight, or to plug an electrical item into a socket to inspect it
9.3 Electrical goods are tested for safety only, they are not tested to ascertain if they are in working order. No refund will be given if the lot is not in working order.
9.4 By making a bid the Buyer acknowledges his or her satisfaction with the condition and contents of the lot. Neither Potburys or the Seller accept any responsibility for the condition of any Lot.
10. CONDITION REPORTS A buyer who is unable to attend the auction room prior to a sale to personally examine a lot may request a condition report. Potburys will take reasonable measures to describe the condition of the Lot accurately, but no liability will be accepted for the correctness of that description. Any condition report will be subject to the disclaimers in clause 9. Potburys are not specialists in any field and a condition report prepared by us might not necessarily reveal every defect that a buyer might identify if inspecting the lot in person. Potburys do not have facilities to test gem stones and we are unable to examine articles under ultra-violet light. Potburys might not have time to respond to a request for a condition report received later than close of business on the working day preceding the sale.
11. FORGERIES
11.1 Notwithstanding clauses 9 and 10, any Lot which proves to be a deliberate forgery (as defined in clause 11.2) may be returned to Potburys by the Buyer within 14 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 Potburys is satisfied from the evidence presented that the Lot is a deliberate forgery, we shall refund the money paid by the Buyer for the Lot including any buyer's premium. But such refund will not be made and the Buyer shall have no rights under this condition if (1) the catalogue description reflected the accepted view of experts as at the date of the sale or (2) the Buyer is not able to transfer a good and marketable title to Potburys. The right of return provided by this condition is additional to any right or remedy provided by law or by these Terms for Buyers and Conditions of Sale.
11.2 "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
12. EXPORT 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 responsibility of the Buyer 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, eg: they may contain prohibited materials such as ivory.
13. THE AUCTION PROCESS AND BIDDING INCREMENTS
13.1 The bidding increments will be regulated at the sole discretion of the Auctioneer. All bids shall be offers made upon the Terms for Buyers and Conditions of Sale. Only bids in whole pounds shall be accepted
13.2 The auctioneer reserves the right to divide, consolidate, alter or withdraw any lot.
13.3 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 Lots during the course of the auction or otherwise.
13.4 Once made, no bid may be withdrawn.
13.5 In the case of lots where the seller has placed a reserve, the auctioneer shall have the right to bid on the behalf of the seller, the maker of the highest bid acceptable to the auctioneer to be the Buyer.
13.6 In the event of any dispute, the auctioneer's decision shall be binding and final.
13.7 The Auctioneer reserves the right to accept or refuse any bid without supplying a reason.
13.8 Bidders shall be deemed to act as principals.
14 COMMISSION BIDS
14.1 For those unable to attend the sale, the facility exists to leave commission bids. Identification may be required of the bidder. Forms are available at the office, or can be downloaded from Potburys' website. Written bids on these forms are preferred, but commission bids may be left by telephone at Potburys' discretion.
14.2 The bidder should state the maximum he wishes to bid excluding buyer's premium. "Buy" or "plus one" bids are not accepted, and bids must be made in whole pounds. Lots will be purchased as cheaply as possible, subject to reserves and any other bids. Potburys will take all reasonable measures to execute a commission bid, but these are accepted on the sole risk of those leaving the bids.
14.3 It is strongly recommended that a bidder inspects the Lot prior to bidding on it. By leaving a commission bid, the bidder acknowledges that they are wholly satisfied with the condition of the Lot. Attention is drawn to clauses 9 and 10.
14.4 Where two or more commission bids are received at the same amount, Potburys reserves the right to prefer the bid which was received first.
14.5 Any person making a commission bid agrees to be bound by the Terms for Buyers and Conditions of Sale. Commission bids left through www.the-saleroom.com or www.invaluable.co.uk or through any provider of live internet bidding will be bound also by the conditions of that provider.
15. TELEPHONE BIDS The facility of telephone bidding is offered only for seasonal Antiques & Decorative sales, not fortnightly Generals sales, and is subject to telephone line availability. Any person making a telephone bid agrees to be bound by the Terms for Buyers and Conditions of Sale.
16. PAYMENT AND COLLECTION.
16.1 The Buyer is required to pay in full the purchase price plus premium and, if failing to do so, the remedies set out in Clause 19 shall apply. Legal title shall not pass to the Buyer of any lot until paid for in full in cleared funds, but each lot will immediately, on the fall of the hammer, be and remain in every respect at the risk of the Buyer.
16.2 Lot(s) must be paid for and collected on or before the Friday immediately following the sale, else storage charges shall apply (in addition to any charge provided for by Clause 19 of these Terms). The storage charges shall be at a rate depending on the size of the Lot(s) and shall not be less than £10 per week per Lot.
16.3 Potburys accepts payment by Debit Card, BACS, Cheque or Cash. Goods will not be released and title shall not pass to the buyer until the payment has cleared. Payment by Credit Card is subject to an additional fee of 2%+VAT of the total invoice. Please note we do not accept "card holder not present" payments over £300 - please contact us to arrange an alternative method of payment
16.4 To comply with current Money Laundering regulations, we will only accept payments in cash up to the equivalent of 15,000 Euros
17. COLLECTION OF LOTS PURCHASED All lots are to be paid for in full before being removed from the saleroom, and to be checked out by a member of Potburys' staff.
18. SALES WITH LIVE INTERNET BIDDING If a sale offers the facility for live internet bidding through www.the-saleroom.com or www.invaluable.co.uk or through any other provider of such service, then the Buyer shall also be bound by the terms and conditions of that provider. A Buyer bidding via the internet is respectfully reminded that it is necessary at the end of the sale for Potburys to reconcile its own accounts system with the records of the live internet bidding provider. In practical terms this means that it can take up to two hours after the end of the sale for Potburys to be able to issue the invoice to the buyer and process the buyer's payment.
19. REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES
If any Lot is not paid for in full and taken away in accordance with these Terms for Buyers and Conditions of Sale, or if there is any other breach of these Conditions, Potburys as agent for the seller shall at its own absolute discretion and without prejudice to any other rights it may have, be entitled to exercise all or any of the following rights and remedies:-
(a) to proceed against the Buyer for damages for breach of contract;
(b) to rescind the sale of that Lot and/or any other Lots sold by us to the Buyer;
(c) to resell the Lot (by auction or private treaty) in which case the Buyer 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 the Buyer's expense and, in the case of storage, either at our premises or elsewhere;
(e) to charge interest at a rate not exceeding 2% per month on the total amount due to the extent that it remains unpaid for more than three working days after a General sale or seven working days after an Antiques & Decorative sale;
(f) to retain that or any other Lot sold to the Buyer until the Buyer pays the total amount due;
(g) to reject or ignore bids from the Buyer or his 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 the Buyer towards the settlement of the total amount due and to exercise a lien (that is a right to retain possession of) on any of your property in our possession until the debt due is satisfied. Potburys shall, as agent for the seller and on its own behalf pursue these rights and remedies only so far as is reasonable to make appropriate recovery in respect of breach of these conditions.
20. AUCTION ROOM SAFETY AND LIMITATION OF LIABILITY All visitors to the premises are there at their own risk and visitors should familiarise themselves with the layout of the premises and take note of fire exits and health and safety signs. Potburys shall not incur liability for death or personal injury (except as required by law by reason or our negligence) or similarly for the safety of the property of persons visiting the premises. We shall have the right, at our discretion, to refuse admission to our premises or attendance at our auctions by any person.
21. FIREARMS A Lot which is a firearm as defined by the relevant legislation will not be released to the Buyer and title shall not pass to the Buyer until the Buyer produces the relevant Firearms Certificate
22. WARRANTY OF TITLE The seller warrants to Potburys and to the Buyer that the seller is the true owner of the property consigned or is properly authorised by the true owner to consign it for sale and is able to transfer good and marketable title to the property free from any third party claims
23. PRIVATE TREATY AND CONSUMER LEGISLATION Private treaty sales made under these Terms are deemed to be sales by auction for purposes of consumer legislation.
24. ENGLISH LAW APPLIES TO THE INTERPRETATION OF THESE TERMS FOR BUYERS AND CONDITIONS OF SALE
Registered in London: No. 493320
VAT. Registered No: 141 0326 25
TERMS FOR SELLERS
1. All goods delivered to Potburys of Sidmouth Auctioneers and Valuers (hereafter "Potburys") will be deemed to be delivered for sale by Auction and will be sold at Potburys' 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 by Potburys.
2. DEFINITION "Auctioneer" means Potburys 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 Potburys against any loss or expense caused by a breach of this clause.
3.2 The Seller acknowledges and agrees to indemnify Potburys for the return of any purchase money received in respect of any claims. Potburys, at their sole discretion shall refund the sale price if Potburys 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 Potburys against any loss or expense caused by a breach of this clause.
4. IDENTITY The seller shall provide proof of their identity and address. Payment is normally made by cheque and 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 Potburys acts throughout as an agent only and is not responsible for any default by the Buyer. Potburys will not pay the Seller until they have received full settlement from the Buyer. The remedies which Potburys may at their discretion apply against a defaulting Buyer are set in Clause 19 of the Terms for Buyers and Conditions of Sale
6. RIGHT TO REFUSE
6.1 Potburys 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 unsuitable for sale will be disposed of at Potburys' 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.
6.2 Lots accepted for sale will be placed into the first available and appropriate sale, either a fortnightly General Sale or seasonal Antiques and Decorative Sale, at the discretion of Potburys. Due to constraints of floor space, it follows that Lots might not be necessarily entered into the first auction that follows the day on which the Lots are delivered to Potburys. Ordinarily, storage charges are not made under these circumstances
6.3 Low value items will not be entered into a subsequent sale if they do not sell at the first-attempt and will be disposed of and a charge for this made to the Seller. Low value items falling within the terms of this clause will be identified to the Seller in the pre-auction advice letter.
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. The cost of any additional research or investigation relating to the sale of restricted items and, where necessary, the obtaining of a relevant licence for sale, shall be borne by the Seller.
7.2 The sale of alcoholic liquor is conditional upon Potburys being granted a licence to do so by the Local Authority. The cost of applying for this licence shall be borne by the Seller
8. COMMISSION AND EXPENSES The Seller authorises Potburys to deduct commission and expenses at the stated rates from the hammer price. The rate of commission on items entered for General Sales and for Antiques and Decorative Sales is 18%, with a minimum commission of £1 per lot. VAT is payable on the commission by the Seller. Each consignment is subject to a handling and administration charge of £12 plus VAT. These charges shall apply to Lots sold by private treaty after the auction (clause 13.2)
9. STORAGE AND STORAGE CHARGES
9.1 Potburys 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 £10 + VAT per week per Lot, with additional charges for large or special items.
10. CHARGES FOR WITHDRAWING LOTS The fee for withdrawing a lot after cataloguing but prior to sale is 10% of the reserve price or 10% of the value estimated by Potburys if no reserve has been agreed (with a minimum charge of £10)
11. POTBURYS' 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, Potburys 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 Potburys' 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 Potburys 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 Potburys prior to the commencement of the sale. The Auctioneer will reserve the right to 10% discretion of the agreed reserve.
13.2 In the event of the reserve price not being attained at Auction, Potburys are empowered to sell after the Auction, by private treaty at the discretion of the Auctioneer, so long as the goods remain on Potburys premises. 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 Potburys' discretion to re-enter the Lot(s) in a subsequent sale at a reduced reserve.
13.4 If Potburys are given instructions by the Seller to sell a Lot at a certain reserve, and Potburys notifies the Seller in advance of the sale that they do not agree with that reserve, but at their sole discretion agrees to enter the lot into the sale at that reserve specified by the Seller, 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 Potburys at their discretion will not place a reserve on a Lot with a lower estimate of less than £20 in a General Sale or on a Lot with a lower estimate of £40 in an Antiques & Decorative Sale.
13.6 The Seller may not bid on any lot which they are selling
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 Potburys 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 Potburys for sale for the purpose of illustrating the auction catalogue, advertisements in newspapers and magazines, and Potburys' website.
17. SALE RESULTS AND FUTURE MARKETING The seller authorises Potburys to publish results of sale of any lot consigned to Potburys for sale, and to use photographs and sale result of any lot in any future newspaper, magazine, or internet advertisement, on Potburys' website, or in any Potburys' marketing material.
18. COMMISSION BIDS The seller agrees to Potburys 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 Potburys to test all electrical appliances which are entered into the sale. The charge for this test, to be paid by the Seller, is £2 for small items and £6 for large items. Except for antique items, electrical appliances which do not pass the safety test cannot be sold. The Seller and the Buyer should note that the fact that an electrical item has passed a safety test does not imply that it is in full working order.
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
Registered in London: No. 493320
VAT. Registered No: 141 0326 25
