Conditions of Business
COVID-19 STATEMENT.
Posted 3rd November 2020:
Following the 31st October 2020 announcement by the UK Government on new national lockdown restrictions commencing 5th November your attention is drawn to the following:
Our online auction of Sports Memorabilia on 9th, 10th & 11th November will proceed as scheduled. However, it has been necessary to make a number of changes to the arrangements concerning bidders and buyers.
Viewing: The last opportunity to view lots at our premises on a timed appointment basis is Wednesday 4th November. Social distancing protocols are in place and staff and visitors are required to wear masks.
Condition Reports: Any requests for condition reports or additional photographs must be received by Tuesday 3rd November, so we can reply by the final working day before lockdown.
Telephone Bidding: Briefly we posted an announcement that we would not be able to operate this service for the current sale. We are pleased to announce that upon further review of lockdown compliance, the telephone bidding service has been restored for the auction.
Absentee Bidding: i) Absentee Bids can be left by email or telephone up to 9:30am on the morning of each sale day with a declared maximum limit that will be executed by the auctioneer on the bidder's behalf. ii) Registered clients at the Graham Budd Auctions website can place and manage their bids online up to 9:30am on the morning of each sale day. iii) The online bidding platforms saleroom.com and invaluable.com can also accept absentee bids, but please be aware the higher rate of buyer's premium will still be applied.
Payment: Graham Budd Auctions will be operating with minimum staff mostly working from home. Reaching us by telephone will be more difficult. Successful bidders are encouraged to pay by bank transfer if at all possible. If wishing to pay by card please do so online by using STRIPE at our website as opposed to phoning the card info through. Buyers who have registered a card at the-saleroom.com can instruct us to charge the card. Alternatively, buyers can settle their account by Paypal. NB On this occasion we will not be able to accept payments by cheque.
Collection: Successful bidders will not be able to collect their purchases in person from our premises before the national lockdown is lifted, currently scheduled for 2nd December. Storage charges will not be applied.
Postage and Packing: We will be offering our usual packing and shipping service on a worldwide basis. However, with limited staff the speed of orders will inevitably be impacted.
Thank you for your patience and understanding.
IMPORTANT INFORMATION FOR BIDDERS & BUYERS
Conditions of Business
All lots are offered subject to Graham Budd Auctions Ltd's (GBA) Conditions of Business which can be viewed in full at our website www.grahambuddauctions.co.uk
Estimates and Reserves
Estimates are published as a guide only. The final hammer price of a lot may be higher of lower than the range of figures and there are no predetermined starting prices. Estimates can be subject to revision in which case a saleroom announcement will be made. The estimates are exclusive of buyer's premium and VAT.
All lots are subject to reserves. The reserve price is never set higher than the low estimate.
Buyer's Premium & VAT
When online bidding at GBA via www.invaluable.com, a buyer's premium of 22.5% is applicable on all lots.
When bidding directly with GBA a buyer's premium (BP) of 17.5% is applicable to all lots in this sale, either by absentee or telephone bidding.
You can additionally register for live online bidding directly with GBA at www.grahambuddauctions.co.uk. When using this service a buyer's premium of 20.5% is applicable to all lots.
Bidding at GBA is also available via www.the-saleroom.com a buyer's premium of 22.45% is applicable on all lots
VAT
The majority of lots in the auction are offered under the Auctioneer's Margin Scheme and as such BP is subject to VAT at the standard rate of 20%. Under VAT rules some items are deemed to be zero rated, such as books, programmes, newspapers, magazines etc. If this is the case VAT will not be raised on the buyer's premium. On very rare occasions VAT is payable on the hammer price as well as the buyer's premium, but this will be made clear to prospective bidders.
If a buyer is from outside of the European Union (EU) and instructs the auctioneer to ship outside of the EU then the purchase becomes an export order and the VAT will be removed from the invoice.
Absentee Bidders
In the absence of room bidding, and if the bidder does not wish to bid live as the sale progresses, the auctioneer will be accepting absentee bids which can be submitted by the following methods:
Registering as a client at www.grahambuddauctions.co.uk where you can submit and manage your bids thereafter. By registering with us and opting in, you will also receive updates from us regarding future events. As a registered client at GBA you can also pay your invoices at the website safely and securely through STRIPE.
Email your bids directly to the auctioneer gb@grahambuddauctions.co.uk providing your full contact details.
We would prefer bids by email, but you can register your bids by phone with the auctioneer on +44 (0)20 8366 2525.
Rather than using the live bidding functionality at www.the-saleroom.com or www.invaluable.com you can also register absentee bids there, but please note you will still be charged buyer's premium at the same rate as live bidders at 22.45% and 22.5% (+ vat) respectively.
If sending your bids by post, please do so in ample time before the auction to ensure arrival.
GBA will also be offering a telephone bidding service. Covid-19 Statement: Due to staff number restrictions in the current circumstances, and subject to the level of demand, it may not be possible for us to operate this service as fully as we would normally.
Additional Information for Online Bidding
In completing the bidder registration process and providing your credit card details, and unless alternative arrangements are agreed with Graham Budd Auctions, you authorise GBA, 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, the-saleroom.com, and confirm that you are authorised to provide these credit card details to GBA and agree that GBA are entitled to ship the goods to the card holder name and card holder address provided in fulfilment of the sale.
Artist's Resale Rights (ARR)
Some lots may be subject to ARR. If so a statement will be made in the catalogue entry. For further information on ARR see Design and Artists Copyright Society (DACS) website www.dacs.org.uk.
Pre-Sale Viewing and Condition Reports
VIEWING UPDATE: Viewing will end on Wednesday 4th of November to comply with the UK Government's National Lockdown directive.
All prospective buyers are encouraged to view items before the auction, by contacting the auctioneer for a timed appointment. If this is not possible, however, GBA will be pleased to provide condition reports, as well as additional information and photographs where it is practical to do so. All condition reports are offered in good faith. Buyers are reminded that it is their responsibility to be to satisfy themselves over the condition of lots (refer to Conditions of Business paragraphs 3a and 3b).
Payment
Payment is due in sterling immediately after the sale and before purchases can be released.
Methods of Payment
Electronic Transfer.
Our bank details are:
Barclays Bank plc
Sort Code: 20-71-74
Account: 60420255
Account Name: Graham Budd Auctions Ltd
For International Payments
IBAN: GB64BARC20717460420255
SWIFT/BIC: BARCGB22
Credit/Debit Card
We are pleased to accept VISA, Mastercard and American Express.
Online with STRIPE
Available to registered account holders at www.grahambuddauctions.co.uk
Sterling Bankers Draft or Building Society Sterling Cheque
Drawn on a recognised UK bank or building society. Please note that the auctioneer requires seven days to clear sterling cheques and we always reserve the right to hold goods until a cheque is cleared.
Paypal
Invoices can be settled by Paypal to gb@grahambuddauctions.co.uk
Cash
Cash payments will be accepted up to a maximum of £6,000.
Conduct of the Auction
The auctioneer will commence the bidding and advance the bidding in such increments as he considers appropriate. The contract between the buyer and the seller is concluded on the striking of the auctioneer's hammer. The auctioneer shall have discretion to refuse bids, withdraw or re-offer for lots for sale (including after the fall of the hammer) if he believes that there may have been an error or dispute, and may also take such other action as he reasonably deems necessary. Title in a lot will not pass to the buyer until GBA has received the purchase price in cleared funds.
Remedies for non-payment
Without prejudice to any rights that the seller may have, if the buyer fails to make payment for the lot, GBA may in its sole discretion exercise one or more of the following remedies:
(a) cancel the sale of the lot;
(b) charge interest at 4% per annum above The Bank of England's Base Rate from the payment date to the date that the purchase price is received in cleared funds;
(c) re-sell the lot by auction or privately, with the new sale price at GBA's discretion, in which case the buyer will be liable for any shortfall between the original purchase price and the amount achieved on re-sale;
(d) commence legal proceedings to recover the purchase price for the lot, plus interest and legal costs;
(e) disclose the Buyer's details to the seller to enable the seller to commence legal proceedings.
Data Protection
GBA will use information supplied by bidders or otherwise obtained lawfully by GBA for the provision of auction related services, client administration, marketing and as otherwise required by law. By agreeing to these Conditions of Business, the bidder agrees to the processing of their personal information and to the disclosure of such information to third parties world-wide for the purposes outlined in the above service provisions, and to the seller solely in the event on non-payment.
Miscellaneous
a) All images of lots, catalogue descriptions and all other materials produced by GBA are the copyright of GBA.
b) These Conditions of Business shall be interpreted in accordance with English Law, under the exclusive jurisdiction of the English Courts, in favour of GBA.
Shipping Terms
STORAGE, COLLECTION AND SHIPPING LOGISTICS
On receipt of cleared funds, lots can be collected from the auctioneer's storage facility in Enfield, North London, strictly by timed appointment. Please contact the auctioneer. Payment by cash or card can be accepted at the appointment, otherwise payment must have been made beforehand.
Alternatively, we can organise packing for postage and shipping on a worldwide basis. Please contact us for a quote. Where at all possible we will do this in-house to minimise cost to the buyer. However, for items demanding specialist packing or for larger orders we would seek a quote from an independent professional packer & shipper. Overseas buyers are reminded that it is their responsibility to comply with UK export regulations and with any local import requirements.
