CONDITIONS OF SALE
Definitions: British Toy Auctions, who act only as auctioneers and agents for the vendor are called “The Auctioneers”. The representative of British Toy Auctions conducting the auction is called “The Auctioneer”. “Hammer Price” means the level of bidding reached at or in excess of any reserve when the Auctioneer brings down the hammer.
Every person attending the auction premises at any time shall be deemed to be there at his or her own risk and shall have no claim against the auctioneers in respect of any accident which may occur, or any injury, damage or loss howsoever caused, save insofar as the injury, damage or loss shall be caused by any employee of the auctioneers.
The Auctioneers act as agents for the vendor, and as such are not responsible for any default by the vendor or the buyer.
Whilst the auctioneers make every effort to ensure the accuracy of their catalogue and the descriptions therein, each lot is sold by the vendor with all faults, imperfections and errors of description. Buyers should satisfy themselves prior to the auction as to the condition of each lot, and any statement by the auctioneers as to the lot is a statement of opinion only and every person should rely on his/her own judgement as to all matters affecting the lot. Refunds will not be given for any lot unless a written condition report was obtained from the auctioneers by the buyer prior to the sale. Any claim under any statute must be received in writing by the auctioneers within seven days after the sale.
The auctioneer has absolute discretion to divide any lot, to combine two or more lots, to withdraw any lot, to refuse bids, to regulate the bidding or cancel the sale without giving a reason and without notice. The auctioneer may bid on behalf of the vendor for all goods which are being offered for sale subject to reserve or at the auctioneer’s discretion.
The highest bidder shall be the buyer except in the case of any dispute. If during the course of the auction, the auctioneer considers that a dispute has arisen, he has absolute discretion to settle it or to re-offer the lot. The auctioneer may at his sole discretion determine the advance of bidding or refuse any bid.
Each lot is offered for sale subject to any reserve price placed by the vendor, in which case the auctioneer may bid on behalf of the vendor.
All conditions, notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statements modifying or affecting the same made by the auctioneer from the rostrum prior to any bid being accepted for the lot.
In the event of a sale by private treaty both the vendor and the buyer agree to be bound by the general and any special conditions of sale.
All lots are available for inspection prior to sale, and each buyer on making a bid for a lot acknowledges that he has satisfied himself fully before bidding by inspection or otherwise as to all the sale conditions, the physical condition of, and description of the lot including but not restricted to whether the lot is damaged or has been repaired or restored.
The purchaser of any lot shall pay the hammer price plus a premium of 16% of the hammer price of each lot. The vendor authorises the auctioneers to deduct commission and expenses at the agreed rates from the hammer price, and the purchaser and the vendor acknowledge the auctioneers right to retain the premium payable by the purchaser.
Not only will any bidder or purchaser at any sales be deemed to be purchasing, or to have purchased, in full knowledge of, and agreement with these and any other printed or announced conditions of sale, he will also be deemed to be in full knowledge of, and in agreement with such other conditions of sale as are on display in the sale room.
Legal title of each lot will not pass to the buyer until the lot has been paid for in full and the auctioneers shall be entitled to a lien on any lot sold until the purchase price (as defined above) has been paid in full, but each lot is at the sole risk of the buyer from the fall of the hammer.
Every bidder shall be deemed to act as principal unless there is in force a written acknowledgement by the auctioneers that they act as agent on behalf of a named principal.
No purchase shall be claimed or removed until it has been paid for and the sale has been concluded. All purchases shall be paid for and removed at the buyer’s risk and expense immediately at the end of the sale, failing which the auctioneers shall not be responsible if the same are lost, stolen, damaged or destroyed, and all lots not so removed shall remain at the risk of the buyer and subject to a minimum warehousing charge of £2 per lot per day. If any lot is not paid for and removed within seven days after the sale, the auctioneers may re-sell the lot by auction or privately without notice to the buyer. Any liability which there may be on the part of the auctioneers in respect of any loss shall be restricted to a maximum of the price paid by the buyer of the lot.
In the event of any failure of the buyer to comply with any of the above conditions, the damages recoverable by the vendor or the auctioneers from the defaulter shall include any loss arising on any re-sale of the lot, together with the charges and expenses in respect of both sales, and together with interest at 8% upon the price of any lot which has not been paid for within 48 hours after the sale, and any money deposited in part payment shall be held by the auctioneers on account of any liability of the defaulter to the auctioneers or the vendor. The auctioneers are only able to accept payment from successful bidders in cash or by the bidder’s own cheque with an appropriate cheque guarantee card. Cheques drawn by third parties cannot be accepted.
The auctioneers reserve the right to refuse admission to any saleroom used by the auctioneers without giving a reason.
Vendors of all goods must comply with all Health and Safety Acts and purchasers should check second hand goods purchased through an auction thoroughly by a competent person before use.
At all times prior to the fall of the hammer lots and chattels remain the responsibility of the vendor, and thereafter the responsibility of the buyer, and the auctioneers will only be liable for negligence or error in the performance of their obligations. The insurance of lots and chattels is always the responsibility of the owner.
The auctioneers will execute bids on behalf of intending buyers unable to attend the sale at no charge. The auctioneers undertake to purchase lots as cheaply as is allowed by other bids and reserves. Bids must be submitted in writing at least half an hour before the sale commences and should be entered on the Absentee Bidding Form provided. Whilst every care is taken in carrying out instructions, the auctioneers cannot be held responsible for errors or omissions made in carrying out such bids.
Full conditions are displayed in the saleroom.