Conditions of Sale
Conditions of Sale
East Bristol Auctions Ltd carries on business with bidders, buyers and all those present in the auction room and online prior to or in connection with a sale on the following General Conditions and on such other terms, conditions and notices as may be referred to herein.
1. Definitions
In these Conditions:
(a) 'Auctioneer'or 'we/us' means the firm East Bristol Auctions Ltd or its authorised auctioneer, as appropriate;
(b) 'Hammer price' means the level of bidding reached (at or above any reserve) when the auctioneer brings down the hammer;
(c) 'Terms of Consignment' means the stipulated terms and rates of commission on which East Bristol Auctions Ltd accepts instructions from sellers or their agents;
(d) '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;
(e) 'sale proceeds' means the net amount due to the seller, being the hammer price for 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;
(f) 'You', 'Your' etc refers to the buyer as identified in condition 2;
(g) The singular includes the plural and vice versa as appropriate.
Information for buyers
2. Bidding Procedures and the Buyer
(a) Bidders are required to satisfy any security arrangements before entering the auction room to view or bid, and to register their particulars immediately on purchasing their first lot on the day.
(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 re-offering the Lot during the course of the auction or otherwise.
(c) Bidders shall be deemed to act as principals.
(d) 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
The buyer shall pay the hammer price together with a premium thereon of 18% + VAT on the premium at the rate imposed by law.
ARTISTS RE-SALE RIGHT. Buyers of the re-sold art of living artists will be charged the royalty where applicable. Currently this is 4% on any item sold at 1000 Euros or over, diminishing about 50,000 Euros. VAT is not applicable. Further details can be obtained from our office.
5. Value Added Tax
Valued Added Tax on the hammer price is imposed by law on all items affixed with an 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
We accept payment via the telephone and also provide a secure payment portal through our website for your own security. Bidders leaving successful commission bids with us via telephone or email should be aware that payment will be made via this service. Online bidders, whether live or by automated online commission can pay via these services also
(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 in case 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 expressed or implied.
7. Title and Collection of Purchase
Ample opportunity is given for inspection. Each purchaser, by making a bid for a lot, is deemed to have knowledge of all the Conditions of Sale and to have satisfied themselves as to the physical condition and accuracy of the description of the lot, including, but not restricted to, whether the lot is damaged or has been repaired.
(1) The ownership of any Lots purchased shall not pass on 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 no later than five working days following the day of the auction 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.
8. Remedies for Non-Payment or Failure To Collect Purchase
(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 shall at our absolute discretion and without prejudice to any other rights we may have, be entitled to exercise all or any 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, at the cost of £1.50 per lot per day;
(e) To charge interest at a rate not exceeding 1% per month on the total amount due to the extent it remains unpaid for more than five 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 on any of your property in our possession for any purpose.
(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 layout 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 personally or via online bidding platform 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 neglect or default in so doing or failing 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 property 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.
12. Agency
The auctioneer normally acts as agent only and disclaims any responsibility for default by sellers or buyers.
13. Descriptions
(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 the 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. 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, and hereby excluded. This condition or quality of lots, express, implied or statutory, are hereby excluded. This condition is subject to the next following condition concerning deliberate forgeries and applies save as provided for in paragraph 6 'information for buyers'.
(2) Private treaty sales made under these Conditions are deemed to be sales by auction for purposes of consumer legislation.
14. Online Bidding
East Bristol Auctions Ltd. offer an online bidding service via the-saleroom.com and invaluable.com for bidders who cannot attend the sale.
In completing the bidder registration on www.the-saleroom.com and providing your credit card details and unless alternative arrangements are agreed with East Bristol Auctions Ltd. you:
1. authorise East Bristol Auctions Ltd., if they so wish, to charge the credit card given in part or full payment, including all fees, for items successfully purchased in the auction via the-saleroom.com, and
2. confirm that you are authorised to provide these credit card details to East Bristol Auctions Ltd. through www.the-saleroom.com and agree that East Bristol Auctions Ltd. are entitled to ship the goods to the card holder name and card holder address provided in fulfilment of the sale.
Please note that any lots purchased via the-saleroom.com live auction service will be subject to an additional 3% (+VAT) online bidding charge, and any lots purchased via Invaluable.com will also be subject to an online bidding charge of 5% (+ VAT) at the rate imposed, on the hammer price.
