James and Sons Auctioneers & Valuers - Terms of Business Buying
Payment For those attending the sale we ask that all lots are paid for in full on the day of sale. Commission bidders should check the success of their bids as soon as possible and forward payment within four working days. Our terms are cash, credit card or debit card. A 6% surcharge will be added to credit card transactions. We are unable to accept cash payments in excess of £5000. Cheques must be cleared before the removal of goods.
Estimates are designed to help buyers gauge what sort of sum might be involved for the purchase of a particular lot. The lower estimate may represent the reserve price. Estimates do not include the buyer’s premium. Estimates are prepared some time before the sale and may be altered by announcement before the sale. They are in no case definitive.
Please inspect all lots purchased upon collection or postal receipt. Returns can only be made within 7 days of receipt, with written explanation of the reasons why.
Bulk lots cannot be returned, thus we strongly advise the viewing of such lots in person. The nature of what constitutes a ‘bulk lot’ is determined at James and Sons Auctioneers discretion. Returned lots will only be accepted if returned in the same condition they were received in.
Items in our auctions are not sold “on approval”. Bidders should be certain of the nature of each lot before bidding.
We do not refund postal charges.
*We do not accept any returns on specifically medals and militaria. These items are considered sold ‘as seen’ and should only be bought in full knowledge and acceptance of these terms.
Buyers Premium and Vendor information
The conditions of sale oblige buyers to pay a buyer’s and sellers premium at 20% on the hammer price of each lot purchased, withdrawing lots costs £25 per lot due to the time taken researching and listing item in auction.
These are sold as ‘antiques’ only and if bought for use must be checked over for compliance with safety regulations by a qualified electrician first.
All attending buyers are asked to collect a bidding paddle before the commencement of the sale. Should you be the successful buyer of any lot please ensure that your paddle can be seen by the Auctioneer. Please return your paddle at the end of sale.
Commission bids may be left with the auctioneers indicating the maximum amount to bid excluding buyer’s premium. They will be executed as cheaply as possible having regard to the reserve (if any) and competing bids. If two buyers submit identical commission bids the auctioneer may prefer the first bid received. Please enquire in advance about our arrangements for the leaving of commission bids by telephone, submission form or email. All absentee bids should be received before the auction commences, we cannot guarantee to accurately execute bids received once the auction has commenced. All online and email bids must be received by no later than the day commencing the sale.
If you are unable to come to the auction it may be possible to bid on the telephone for higher value lots. Please note that this service is for lots with an estimate of £250 or more.
The number of lines is limited so we would urge serious telephone bidding only and ask that you be prepared to bid over the top estimate.
It would be advisable to leave a maximum covering bid in case we are not able to contact you by telephone.
All lines must be booked and confirmed in writing before the day of the auction and preferably some time in advance.
Telephone bidding involves many variables and whilst we take every care to ensure the smooth running of this service, we cannot be held liable if your bids are missed for any reason.
We offer an online bidding service via easyliveauction.com for bidders who cannot attend the sale. Please note that any lots purchased via easyliveauction.com live auction service will be subject to an additional 3% commission charge + VAT at the rate imposed on the hammer price or no commission for the internet bidding if the ‘Flat Fee’ has been chosen at registration.
Email absentee bids to www.jamesandsonsauctioneers.com/place-a-bid-online/
Lotting Fees and Seller’s commission.
General Sales: A charge of £5 is payable for every individual lot entered, per sale.
Antique / Fine Art Sales: A charge of £5 is payable for every individual lot entered, per sale.
Lot Fees are payable whether item sells or not.
If an item sells, a seller’s premium at the rate of 20% of the hammer price of each lot is also payable by the seller to James and Sons.
If you do not wish to sell an item below a certain price, you can agree a reserve price on the item with James and Sons Auctioneers. All goods are automatically offered for sale WITHOUT RESERVE unless specifically agreed in writing with James and Sons Auctioneers before the start of the sale. If set, the reserve will only apply to the first sale which the item is entered. If a lot is unsold the reserve price will automatically be dropped by at least 20% or the nearest lowest bid for a second sale, unless specifically agreed to the contrary in writing with James and Sons Auctioneers.
James and Sons Auctioneers may at its option sell at a hammer price below the reserve, provided that James and Sons Auctioneers pay the seller the sale proceeds which the seller would have received would such lot have sold at the reserve price.
If you do not wish to drop the reserve for a second sale, the item (s) must be collected before it is lotted up in the next sale (within 28 days of the first sale.) If items are unsold after 2 sales, the seller must contact James and Sons Auctioneers within 28 days to collect these items and pay the lotting up fees applicable or the lot may be entered into subsequent sales with NO reserve.
If the seller fails to make specific arrangements for collection of the lot(s) within five days of the sale, James and Sons Auctioneers shall charge storage fees of £1 per lot per day until collected by the seller. James and Sons Auctioneers also reserve the right to dispose of any items still uncollected after five days following a sale, and a minimum charge of £20 will be made of this disposal.
As James and Sons Auctioneers are auctioneers all goods delivered their premises or collected on behalf of James and Sons Auctioneers will be deemed to be for sale by auction unless otherwise agreed to the contrary in writing. All goods will be entered into those sales that James and Sons Auctioneers consider suitable, and sold at the auctioneer’s discretion. Any items considered unsuitable for by James and Sons Auctioneers will be disposed of, and any costs incurred charged to the seller.
James and Sons Auctioneers sales are fully catalogued. Lots are also catalogued online and available to a vast number of potential buyers. Where appropriate James and Sons Auctioneers take digital photographs to illustrate these catalogues. All sales are also well advertised in the local press and in specialist publications to ensure the largest possible number of interested people see the items. General sales are uncatalogued.
If a lot fails to reach its reserve, the seller authorises James and Sons Auctioneers for a period of 35 days following the auction to sell the lot privately for a price that will result in a payment to the seller not less than the net amount (after payment to James and Sons Auctioneers of the sellers commission, buyers premium and expenses) to which the seller would have been entitled had the lot been sold to a price equal to the reserve.
Settlement After The Sale
Settlement of vendor proceeds is usually made 35 working days after the auction date subject to cleared funds from purchaser. Where some items remain unsold settlement in full will be paid once these items have been sold and the account has been reconciled. Where net sale proceeds are in excess of £2 sterling a cheque will be printed and posted to the seller at the seller’s risk.
Preparation For Sale
James and Sons Auctioneers have sole and absolute discretion regarding the grouping of property into lots and in deciding which sale a lot shall be entered into.
Risk of Loss or Damage / Insurance Charges
The seller authorises James and Sons Auctioneers to assume at a charge of 1% of the reserve price of each lot, (or 1% of the hammer price, whichever is greater) the risk of loss or damage to the property from the time of James and Sons Auctioneers receipt of such property until risk of loss or damage to the property passes on to the buyer as set forth in condition (4), or the unsold items are collected by the seller, unless specifically agreed to the contrary in writing.
A MINIMUM charge of £20 per lot OR 10% of the reserve (whichever is greater) will be levied for any withdrawn lots. The seller may not withdraw property from the sale after the date on which the catalogue is sent to print. James and Sons Auctioneers may withdraw lots from the sale without any liability to the seller if James and Sons Auctioneers believe that (i) There is doubt as to its authenticity or attribution, (ii) any of the sellers’ representatives or warranties are inaccurate in any way, or (iii) the seller breaches any provisions of the conditions of sale.
Each seller, by entering items for sale with James and Sons Auctioneers acknowledges his or her acceptance of James and Sons Auctioneers full conditions of sale, and the terms of any notices and other conditions in the sale catalogue.
Collection of goods
Where items have been collected by James and Sons Auctioneers, a collection charge of a minimum of £50 will be levied, unless otherwise stated in writing by James and Sons Auctioneers.
Shipping will be charged at standard Post Office rates plus packaging. All items over £35 will include an insured rate.