LRA Buyers Conditions
1. The highest bidder to be the buyer. If any dispute arises the Auctioneers shall have absolute discretion to settle it and put any disputed lot up again for auction.
2. All buyers are deemed to have read and agreed to our conditions of sale and methods of payment.
3. Buyers' accounts to be settled within 24 hours. All bidders should check the auction results which are posted on our website at 6.30pm each Sunday.
4. Buyer's premium 20% payable on all lots (24% including VAT). Live internet bidding incurs an additional charge of 3% on the hammer.
5. Lots marked with an asterisk* denote that 20% VAT is payable on top of the hammer price, in addition to Buyer's Premium.
6. Certain art works may incur an Artist's Resale Right royalty charge of 4%, when sold with a hammer price of € 1000 (approx. £850) or more. Artist's Resale Right royalties are not subject to VAT.
7. All lots are put up for auction subject to any reserved price recommended by us or imposed by the vendor.
8. Ownership shall pass to the buyer upon the fall of the auctioneer's hammer and the announcement that the lot has been sold. From this point the buyer SHALL assume full risk and responsibility for the lot. All bidders to provide name, address and credit/ debit card details. During high volume bidding the buyer may be requested to pay 50p in the pound in part payment: in default of which the lot/s purchased may be immediately put up again and re-sold. Upon failure of the buyer to settle their account in full, the money deposited in part payment shall be forfeited; and the defaulter shall make good any loss arising from the resale, together with the charges and expenses in respect to both sales.
9. All lots are sold as shown with all faults, imperfections and errors of description or of genuineness of authenticity. Lots Road Auctions makes no warranty whatsoever (See 12).
10. The lots to be taken away at the buyer's risk and expense, no later than 1pm on the Tuesday after the sale; in default of which Lots Road Auctions will not hold themselves responsible if the same are lost, stolen, damaged or otherwise destroyed. They will be left at the sole risk of the purchaser, and subject to a storage charge of £20 per lot per day (+ VAT). If at the expiration of the two days after the conclusion of the sale (unless otherwise agreed), the lots are not cleared and/or paid for, they may be sold immediately, either publicly or by private treaty, without notice being given to the defaulters.
11. It is the buyers' responsibility to measure any item to ensure that it can be accommodated in its' intended location. All buyers and their carriers must check their purchases before the lots leave the building (see 8).
12. Care is taken to ensure that any statement as to authorship, attribution, origin, date, age, provenance and condition is reliable and accurate but all statements are statements of opinion and are not to be taken as statements or representations of fact. The Auctioneers reserve the right in the forming their opinion to consult and rely upon the expert opinion or Authority reasonably considered by them to be reliable.
13. Purchases may be cleared (after payment) during the auction with the aid of the porters.
14. Written bids ('Commission Bids') shall be taken and carried out for the convenience of the bidders. Lots Road Auctions shall not be responsible for failing to execute such bids or errors relating to the execution of such bids. Bids will be executed dependant on other bids and/or reserves, but will not be sold, for less than 50%, of the highest Commission Bid left.
15. Live telephone bids will only be accepted on lots with an estimate of £500 upwards. Telephone bids on lots of a lower value may be accepted at our discretion. Live Internet and Telephone Bids are subject to a "failure to communicate", it is better to be in the room or leave an absentee bid. We suggest a covering bid amount on all telephone bids as a precaution.
N.B. We are unable to provide a packing service and only hold a minimal amount of packing material.
GENERAL
a) All images and other materials produced for the auction are the copyright of Lots Road Auctions for use at our discretion.
b) Notices to LRA should be in writing and addressed to the relevant department. Notices to LRA clients shall be posted/emailed to the details provided by the Vendor.
c) Should any provision of these Conditions be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.
d) These conditions are not assignable by any Buyer without written consent from LRA, but are bonding on Buyers' successors, assigns and representatives. No act, omission or delay by LRA shall be deemed a waiver or release of any of its rights.
e) The contracts (Rights of Third Parties) Act 1999 is excluded by these Conditions of Business and shall not apply to any contract made pursuant to them.
DATA PROTECTION
LRA will use information provided by its clients or obtained by LRA relating to its clients for the provision of auction related services, insurance, marketing and to manage and operate its business, or as required by law.
LRA may wish to record and review video images of you and or telephone conversations for security or legal reasons or as necessary to provide a higher quality of service.
Clients agree that we may use any sensitive information that they supply to us. Unless by law, LRA will not process sensitive personal data without express consent.
LAW AND JURISDICTION
Governing Law These Conditions of Business and all aspects of all matters, transactions or disputes to which they relate or apply shall be governed by and interpreted in accordance with English law.
Jurisdiction For the benefit of LRA, all Vendors agree that the Courts of England are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Business relate or apply. All parties agree that LRA shall retain the right to bring proceedings in any court other than the Courts of England.
Service Proceedings All Vendors irrevocably consent to service of process or any other documents in connection with proceedings in any court by facsimile transmission, personal service, delivery by mail or in any other manner permitted by English law, the law of the place of service or the law of the jurisdiction where proceedings are instituted, at the last address of the Buyer known to LRA or any other usual address.
LRA Payment
PAYMENT OF THIS INVOICE IS DUE WITHIN 24 HOURS. COLLECTION SHOULD BE MADE BY TUESDAY 1PM AFTER THE SALE. A STORAGE CHARGE OF £20 + VAT PER LOT PER DAY APPLIES AFTER THIS TIME
All major credit & debit cards accepted (surcharge applicable)
Lots Road Bank Details:
Address: HSBC, 69 Pall Mall, London, SW1Y 5EY Acc Name: Lots Road Auctions
Sort Code: 40 05 20 Account No: 0137 3870 IBAN: GB81MIDL40052001373870 Swift Code: MIDL GB22
Please notify us if you are paying by bank transfer and use your buyer number as a reference: cashiers@lotsroad.com
Shipping Terms
We do not provide a shipping service, but can recommend a number of companies (including International). Please contact us as soon as possible: 0044 20 7376 6800 info@lotsroad.com if you require shipping information
