Conditions of Sale
TERMS AND CONDITIONS
OF HAMPSTEAD AUCTIONS LIMITED
GENERAL
The following conditions together with such other terms, conditions and notices as may be set out in any relevant catalogue apply to all sales by Hampstead Auctions Limited at auction or to any retail sale. It is the intention of Hampstead Auctions Limited that all terms between it and the Seller and the Buyer are contained in the Conditions. No alteration to the Conditions will be binding unless accepted by HA in writing. The Conditions are subject to amendment by Hampstead Auctions Limited provided it is reasonable for it to do so by the posting of notices or by oral announcement made by the Auctioneer prior to or during the sale. Nothing in the Conditions shall affect the statutory rights of a consumer.
DEFINITIONS
In these conditions:
1.1. "HA" means Hampstead Auctions Limited
1.2. "Auctioneer" means the representative of HA conducting the Auction
1.3. "Catalogue" includes any advertisement, brochure, estimate, price list and other publication
1.4. "Hammer Price" means the price in pounds sterling (or the currency in which the sale is conducted) at which a Lot is knocked down by the Auctioneer to the Buyer
1.5. "Buyer" means the person to whom a Lot is knocked down by the Auctioneer
1.6. "Lot" means any item(s) consigned with the view to its or their sale at auction
1.7. "Expenses" in relation to the sale of any Lot means HA charges and expenses for, storage, illustrations, cataloguing costs, special advertising, packing and freight of that Lot and any VAT thereon
1.8. "VAT" means Value Added Tax applicable at the prevailing rate from time to time
1.09 "Reserve" means the minimum Hammer Price agreed between HA and the Seller at which a Lot may be sold
1.10 "Purchase Price" means the Hammer Price, the Premium and any additional charges or Expenses together with VAT thereon due from any Buyer under Condition 1
1.11 "Premium" shall have the definition given in Condition 1
1.12"Sale Proceeds" means the net amount due to the Seller being the Hammer Price less the Seller's commission, any VAT thereon, Expenses and any other amount due to HA from the Seller
1.13 "Seller" means the person who offers the Lot for sale
1.14 "Seller's Commission" shall have the definition given in Condition 7
1.15 "The Auction" means the auction sale in respect of which a Lot is consigned for sale
THE BUYERS CONDITIONS
1. Buyers Premium;
The Buyer shall pay to HA the Hammer Price together with a premium thereon of 17.5% plus VAT on the premium at the rate imposed by legislation current at the time of the sale. Assuming VAT at 20% the total commission payable inclusive of VAT would therefore be 21% in addition to the hammer price. Example, if the winning bid is £100 hammer price then the buyer will pay £121 total. Please note that any lots purchased via the-saleroom.com live auction service will be subject to an additional 3% commission charge + VAT at the rate imposed on the hammer price. Where the lot purchased is a work of art and the provisions of the Artists Resale Rights Regulations 2006 ("the Regulations") apply the Buyer shall pay an additional Premium of 4% of the Hammer Price or such other percentage as shall be provided by the Regulations. Details of the Regulations are available at www.dacs.org.uk and further information as to how they may be obtained is available on request
2. Payment and Collection;
2.1: All purchased lots must be paid for in full by cleared funds and collected on or before midday on the Saturday following the auction and shall until collection remain at the Buyers risk and expense. Time shall be of the essence of the contract. No goods may be removed under any circumstances until payment in full has been received. We accept payment by cash, cheque (up to the limit of and supported by a guarantee card), bankers draft, bank transfer, debit card or VISA or Mastercard credit card and American Express charge card.
2.2: Surcharges on the total amount payable to HA apply as follows.
Debit cards FREE
Credit cards 3% plus VAT
American Express 4.5% plus VAT
Any item not paid for and collected by midday on the Saturday following the sale will be subject to storage charges of five pounds per day or part thereof. In the event that any lot is not paid for by the due date and time HA reserves the right to take any or all of the following courses of action without prejudice to any other rights we may have and without reference to the Buyer or their agent:
( 1) resell the lot and the Buyer will be responsible for any resulting deficiency in the total amount due and any surplus resulting shall belong to the Seller.
(2) proceed against the Buyer for damages for breach of contract.
(3) apply any payments made to us from the Buyer to any sums owed to us from the Buyer without regard to any directions from the Buyer or their agent whether express or implied.
(4) rescind the sale of the unpaid lot and any other lots made to the Buyer and decline to accept bids from that Buyer or their agent at any future auctions.
3 Descriptions
Any representation or statement by HA or its employees or agents in any catalogue description or condition report whether written or verbal as to the condition, origin, date, age, attribution, provenance, authorship, authenticity, genuineness or selling price of any item is a statement of opinion only. Neither HA, its employees, agents or the Seller accept liability for the accuracy or correctness of such opinions and all conditions and warranties are hereby excluded. It is the Buyers sole responsibility to satisfy themselves as to the extent of restoration, the condition, origin, date, age, attribution, provenance, authorship, authenticity, genuineness of any lot or the accuracy of any catalogue description or condition report prior to bidding. All weights and measurements given in any catalogue description are approximate.
4 Ownership
4.1: The Buyer shall be the highest bidder at the Hammer Price as declared by the auctioneer. Any disputes as to bids arising shall be settled by the auctioneer at his absolute discretion.
4.2: The ownership of any lot shall not pass to the Buyer until the total amount due has been paid in full in cleared funds to HA and HA shall be entitled to a lien on any lot sold until such funds are paid.
4.3: Purchased lots shall be at the Buyers risk from the fall of the hammer and neither HA nor their agents shall be responsible for any loss or damage of any kind however it may be caused.
5 Bidding
5.1: Any person wishing to bid in person or by telephone or through the agency of HA (Commission Bids) shall be required to register their name, address and telephone number with HA prior to any bid being accepted. HA reserves the right to require proof of identity before accepting any person as a prospective Buyer and may in its absolute discretion refuse to issue a bidding card and number or accept bids from any person
5.2: In Person Bids: A Buyer biding in person will on providing the information referred to in paragraph 5.1 above be issued with a bidding card and number. Bids will only be accepted from bidders in person who have been issued with a bidding card and number
5.3: Commission Bids: HA will execute bids on behalf of prospective Buyers if so instructed clearly in writing. HA will assume that the prospective Buyer has satisfied themselves as to the condition, origin, date, age, attribution, provenance, authorship, authenticity and genuineness of all lots prior to placing their bid. HA, its staff or its agents will execute commission bids at the lowest possible price subject to competing bids and reserves. Neither HA nor its employees or agents shall be responsible for any neglect, failure or default in executing commission bids. When two or more commission bids are accepted for the same maximum bid HA will in its absolute discretion prefer the bid of the commission bidder made first in time. HA may at its absolute discretion require prospective Buyers who wish to enter a bid via email or telephone to register a valid credit or debit card with HA and to charge a £30.00 deposit prior to any email or telephone bid being accepted. Any such deposit taken shall be fully refunded if any or all bids are unsuccessful or it shall be deducted from the total due to HA if any such bids are successful.
5.4: Telephone Bids. HA will accept bids by telephone during a sale subject to a member of staff or agent being available to take the bid. You are advised to book telephone bids as early as possible but in all cases no later than twenty four hours prior to the sale. In the event that a telephone bid is arranged for any lot the bidder will be contacted approximately five lots before that lot is auctioned. Telephone bids are not normally accepted for lots with a lower estimate of less than two hundred pounds. HA may require prospective telephone bidders to register a valid credit or debit card with us and to charge a £50.00 deposit prior to any telephone bid being accepted. Any such deposit taken shall be fully refunded if any or all bids are unsuccessful or it shall be deducted from the total due to HA if any such bids are successful. Neither HA nor its' employees or agents shall be responsible for any neglect, failure or default in executing telephone bids.
5.5:HA reserves the right to bid on behalf of the Seller up to the amount of any reserve
5.6:HA reserves the right to refuse any bid at the auctioneers absolute discretion
5.7: All persons registering to bid in person or by telephone or entering a commission bid agrees to be bound by these terms and conditions in their entirety.
5.8: Online Bidding. Hampstead Auctions offer an online bidding service for bidders who cannot attend the sale.
In completing the bidder registration and providing your credit card details and unless alternative arrangements are agreed with Hampstead Auctions:
1. authorise Hampstead Auctions, 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 Hampstead Auctions and agree that Hampstead Auctions are entitled to ship the goods to the card holder name and card holder address provided in fulfillment of the sale.
Please note that any lots purchased via the live auction service will be subject to an additional 3% commission charge + VAT at the rate imposed on the hammer price.
6. Delivery:
HA will be happy to arrange delivery of any purchased lot at the Buyers expense.
THE SELLERS CONDITIONS
7. Commission:
7.1: The Seller authorises HA to deduct a commission of 15% from the Hammer Price plus VAT at the rate applicable on the sale of the goods. Assuming VAT at 20% the total commission deducted inclusive of VAT would therefore be 18%. Example, if a lot sells for £100 Hammer Price then the Seller will receive £82 less any other applicable charges as set out in these terms and conditions.
8. Terms of consignment
8.1: The Seller agrees that all lots accepted for sale by HA are offered for sale on behalf of the Seller subject to the stipulations of these terms and conditions in their entirety.
8.2: The Seller declares that they have the legal right to sell any lot submitted to HA for sale and they declare any such lots to be free of all encumbrances rights of third parties including but not limited to hire purchase charge pledge lien and custom duty liabilities
8.3: The Seller agrees to accept the Hammer Price (subject to a reserve price and the auctioneers discretion if that has been previously agreed between the Seller and HA) less all commissions and charges detailed in these terms and conditions as full and final settlement for all lots.
8.4: HA reserves the right to refuse any lot offered for auction.
8.5: Unsold lots may be entered into a second auction at HA absolute discretion provided that the reserve price is reduced by an amount to be agreed but not normally less than 25%.
8.6: All unsold lots that are not to be entered into a second auction and all lots that have been entered for two auctions must be collected by midday on the Saturday following the sale.
8.7: HA reserves the right to auction any unsold lots which have not been collected without reserve. The proceeds of such sales will be returned to the consignor after the deduction of all fees due to HA which will include a storage charge of five pounds per day from the day on which the lot(s) were due to be collected.
8.8: All persons entering lots for sale into any auction or by private treaty with HA agrees to be bound by these terms and conditions in their entirety.
9. Reserves and Estimates:
9.1: The Seller may place a reserve price on any lot entered into our auctions subject to the agreement of the auctioneer. The Seller may instruct HA to allow the sale of their Lot(s) at an agreed price below the reserve price known as the auctioneer's discretion). HA will not accept lots for sale if a reserve price is desired and cannot be agreed.
9.2: Reserve prices of less than fifty pounds will not be accepted, except at the absolute discretion of HA.
9.3: The estimated selling prices suggested by HA are intended for the purpose of guidance only and should not be construed as an indication of nor as a guarantee of the value or the actual selling price which may be realised.
10. Withdrawal:
The Seller may withdraw any lot previously entered for auction by HA provided that written notice is received at least two weeks prior to the sale date. Lots entered into a sale and then withdrawn less than two weeks before the sale date will be subject to a handling charge of thirty pounds per lot. The Seller may not withdraw any item from the sale with less than 48 hours written notice prior to the sale date.
11. Ownership:
The ownership of any auctioned lot will be transferred from the Seller to the Buyer upon the receipt of the due amount by HA. The Seller acknowledges transfer of title of any auctioned lot from the date upon which payment is made in full by the Buyer to HA and that responsibility for any auctioned lot transfers from the Seller to the Buyer at the fall of the hammer. At no time other than when due care is required from an agent do HA accept responsibility.
12. Payment to Seller:
Payment for the proceeds of consigned lots sold will be paid to the Seller (or their agent by prior arrangement) in cash or by cheque on the Friday eight days after the Auction or two days after cleared funds are received whichever is the later. Payment may be collected from the offices of HA or mailed to the Seller at their request. HA will not send cash by post, cash payments must be collected from and signed for at our offices.
GENERAL CONDITIONS
13.Agency of HA
HA sells as agent for the Seller (except where it is expressly stated to be selling as principal) and is not liable for any act or default by the Seller or the Buyer. All sales are to be presumed to be sales on behalf of private individuals unless specifically notified to the contrary in the catalogue, or elsewhere in writing.
14. Discretion
14.1: HA has the right at its sole discretion to refuse any bid, to divide any Lot, to combine two or more Lots, to withdraw any Lot and, in the case of dispute, to put any Lot up for auction again.
14.2: If HA is notified about the Seller's alleged breach of any of the Conditions before it has remitted the Sale Proceeds to the Seller, it may at its sole discretion, withhold payment until that dispute is resolved. HA may, however, deduct any sums that are due to it from the sum held.
14.3: HA reserves the right at its discretion to refuse admission to its premises or attendance at its auctions by any person at any time
15. Loss or Injury:
HA shall be under no liability for any injury, damage or loss sustained by any person while on HA's premises (including any premises where a sale may be conducted or where a Lot, or a part of a Lot may be on view from time to time) except for death or personal injury caused by the negligence of HA or its employees and agents in the ordinary course of their duties to HA.
16. Governing Law:
All transactions to which the Conditions apply shall be governed by English Law and HA, the Seller and the Buyer hereby submit to the exclusive jurisdiction of the English Courts.
17. Notices:
17.1. Any notice by HA to a Seller, Buyer or any other person may be delivered by hand or sent by first class mail or airmail and shall be deemed to have been duly received:
(a) If hand-delivered, at the time of delivery;
(b) If sent by mail, two days after the date of posting if posted to an address within the country of posting and seven days after the date of posting if posted to an address within a country outside the country of posting.
17.2. In proving service by delivery :-
(a) By hand, it shall be necessary only to produce a receipt for the notice signed by or on behalf of the addressee;
(b) By post, it shall be necessary only to prove that the notice was contained in a pre-paid envelope which was duly addressed and posted first class.
5.3. HA do not accept service of any notice by facsimile.
18. Claims:
Any claim under any Statute must be received in writing by the Auctioneer within ten days of the day of the sale. 19. Copyright:
The Buyer and Seller give HA full and absolute right to use such illustrations and photographs of any lots sold or entered for sale at auction or by private treaty at any time and in any way whether or not in connection with the auction and at our absolute discretion.
20. Private Treaty Sales
Private treaty sales are made under these terms and conditions and are deemed to be sales by auction for purposes of consumer legislation.
