Terms & Coniditions
TERMS OF SALE BY AUCTION AND CONDITIONS OF BUSINESS - BUYERS
Mainly Concerning Buyers
1. Buyers premium of 20% on the hammer price plus VAT at 20% is payable on all lots. (The VAT rate may alter and will be levied at the appropriate rate.) Lots purchased via the-saleroom.com will incur an additional 3% charge plus VAT at 20%.
2. Payment of all bought lots must be made by the Friday following the sale. The Auctioneer reserves the right to cancel any sale after this period, or where he deems it to be in the Sellers best interests, at his sole discretion.
3. The auctioneers will not release goods to clients unknown until cheques have been cleared. A period of five working days will be needed to clear the cheques. Purchasers will be held liable for any expenses arising from their method of payment.
4. No lots may be cleared during the auction, however, payments can be made to cashiers in the Accounts Department.
5. Lots may be claimed and cleared at the conclusion of the sale. Lots will be released only on production of a release slip receipted by the Accounts Department. Ownership of a lot purchased shall not pass to the buyer until full payment has been made to the Auctioneer of ‘the total amount due’.
6. Free storage of all lots will be provided for three working days following the sale thereafter a storage and handling charge of £5.00 plus VAT per lot per day will be levied.
(a) Paddles: All intending buyers are requested to complete a paddle registration card prior to the auction. When a buyer is successful he/she will hold the paddle aloft and the auctioneer will record the paddle number as the buyer of the lot.
(b) Commission Bids: Any person unable to attend the auction may request the auctioneer to bid on his/her behalf. This service is free of charge. Bidding forms will be available so that clients may complete this fully. These should be handed in at the Accounts Office. Commission bidders are urged to ascertain whether they have been successful or not on the day of the sale or on the Monday following the sale. Lots will be purchased by the auctioneers on behalf of the commission bidders as cheaply as is allowed by other bids and/or reserves if any. Buy bids will not be accepted by the auctioneers. the auctioneers cannot accept responsibility for any neglect or default in executing or failing to execute commission bids.
(c) The auctioneers reserves the right to re-offer any lot in the case of a dispute. The bidding increments will be at the sole discretion of the auctioneer.
8. Liability of Auctioneers and Sellers Goods sold are not new and all goods are sold with all faults and imperfections and errors of description. Illustrations in the catalogue are for identification only.
(i) Buyers should prior to the sale satisfy themselves as to the condition of each lot and whether or not in their own judgement the lot accords with the description.
(ii) Neither the Auctioneers the seller or their servants are responsible for errors of description or for the authenticity of any lot and
(iii) The Auctioneers the seller or their servants and agents give no warranty whatsoever other than hereinafter contained to any buyer in respect of any lot and any express or implied conditions or warranties are hereby excluded.
9 Where a member of the public causes damage to a Lot (or part thereof) the Auctioneer reserves the right to:
(i) sell the aforementioned without reserve and to hold that specific individual liable for the amount of any difference between the hammer price and the reserve or lower estimate whichever might be higher or
(ii) for the cost of the restoration where appropriate
(iii) for the full amount of the reserve price or lower estimate whicheverbe the higher
Note: that with the exception of Condition 10(iii) title to the Lot will remain solely with the seller.
10 Viewing of all sales will be on Saturday 9.00 a.m.–12.00 noon, Monday 9.00 a.m.–4.00 p.m., Tuesday 9.00 a.m.–7.00 p.m. & Wednesday 9.00 a.m.–12.00 p.m.
Claiming and clearing of purchased lots will be following the conclusion of each sale, and thereafter 9.00 a.m.–5.00 p.m. Monday to Wednesday following the sale. Items purchased at the Saturday Sale are required to be cleared by the Wednesday following the sale.
TERMS OF SALE BY AUCTION AND CONDITIONS OF BUSINESS - VENDORS
Mainly Concerning Sellers
Sellers Commission: 15% of the hammer price, plus VAT,
1. £5 plus VAT lotting fee on each sold item
2. i) Title: The Seller of any Lot warrants to the Auctioneer and Buyer that the Seller is the true owner of the property, or is legally authorised to sell the property by its true owner, and is able to give good title to the property, free from any third party claims, and that the Seller will indemnify the Auctioneer and Buyer from any loss or damage suffered by either as a result of any breach of the terms of this clause by the Seller.
ii) The Seller will notify John Bellman Ltd prior to the auction of any alteration to the Lot of which the Seller is, or should reasonably be aware, or of suggestions made to the Seller by a third party that relate to condition, ownership or attribution of the Lot.
3. Reserves are subject to 10% discretion unless otherwise agreed. Once fixed, reserves may only be altered at the express permission of the Auctioneers. Where a reserve has been placed, only the Auctioneer may bid on behalf of the Seller. The Auctioneer reserves the right to sell at a hammer price below the reserve, but in such case the sale proceeds to the Seller shall be the same as if the lot had sold at reserve. When instructed to sell without reserve, the Auctioneer will sell for the highest price bid.
4. Insurance: The Auctioneers will insure lots at the lower estimate or reserve, whichever is the greater value, if the items have not been sold. John Bellman Ltd will not be responsible for loss or damage to frames or glass covering prints, paintings or other works, or for loss or damage to property caused by normal wear and tear, or changes in humidity or temperature.
5. The Auctioneers reserve the right to cancel any sale at any time, at their sole discretion.
6. Unsold Lots: The Auctioneer will notify the Seller of any unsold items within 14 days of the sale. The Seller can either re-offer the lot(s) with a lower reserve in a future auction, or collect the lot(s) within 28 days. If the auctioneers have not received instructions within 28 days, the lot(s) will be re-offered without reserve and sold to the highest bidder. Where a request has been made for a seller to remove goods from the saleroom, and they are not removed within 28 days of such a request, the aforementioned conditions will apply.
7. Withdrawn Lots: If the Seller withdraws a lot from auction, the Seller will pay John Bellman Ltd a withdrawal fee of 10% of the top estimate. The Seller must notify the Auctioneers in writing of their intention to withdraw a Lot, and must arrange for the removal of the Lot within 14 days of such notification.
8. Illustration: the Auctioneers reserve the right to illustrate Lots in the catalogue and on the Internet, and to make an appropriate charge for doing so. The Auctioneers reserve the right to reproduce photographs of Lots for any purpose.
9. Private Sales: If any lot fails to sell, the Seller authorises John Bellman Ltd, as exclusive agent, for a period of 14 days following the auction to sell the lot privately. All terms and conditions apply to such sales.
10. Sale Proceeds will be remitted 14 days after the auction, except where payment has not been received by the Auctioneers and it is held in their opinion to be in the Sellers’ best interests to extend the period for the Buyer to make payment in full. In such cases, John Bellman Ltd will remit the sale proceeds within 10 days of the day on which the total amount due is received from the Buyer. John Bellman Ltd reserves the right to retain any interest on accruing monies being held pending settlement to Sellers. A charge will be made to Sellers for payments other than in sterling.
11. The Seller authorises John Bellman Ltd to deduct commission at the stated rates, and any expenses, from the hammer price, and acknowledges the Auctioneers’ right to retain the Buyers Premium in accordance with the Buyers Conditions.
12. John Bellman Ltd must be notified in writing of any change of address of the Seller. Where a seller is ‘unknown’ at their stated address, and correspondence is returned to the Auctioneers offices, John Bellman Ltd reserve the right to offer their goods for sale without reserve to be sold to the highest bidder, after a period of 28 days from the initial posting. Any monies realised will be held by John Bellman Ltd until claimed by the Seller. All other terms and conditions will be held to apply.
13. John Bellman Ltd sell as agents and as such are not responsible for any default by the Buyer.
14. Estimates. John Bellman Ltd makes no warranty as to the anticipated selling price of property. Estimates are offered only as a guide and not as a statement of fact.
15. John Bellman Ltd reserves the right to alter these Terms and Conditions without notification to clients.