STANDARD CONDITIONS OF SALE Definitions. In these Conditions Town Road Auctions act only as auctioneers and agents and the representative of Town Road Auctions conducting the auction is called “the auctioneer”. 2. General. Whilst Town Road Auctions make every effort Town Road Auctions to ensure the accuracy of their catalogues and the description of any lot: a) Each lot as set out in the catalogue or as divided or combined with any other lot or lots is sold by the vendor with all faults, imperfections and errors of description. All items are offered for sale as viewed and are sold as seen. Premises are open to view items as advertised. The auctioneer does not take responsibility for origin or estimated price. All sales are final and no refunds are given. b) Town Road Auctions do not accept responsibility for the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot unless they have been instructed in writing by the buyer to so certify. c) All statements whether printed in the catalogue or made orally as to any of the matters set out in b) above are the statements of opinion only and are not to be taken as being or implying any warranties of fact by Town Road Auctions unless they have been instructed in writing by the buyers to so certify. 3. The Auction. a) The Auctioneer has absolute discretion to divide any lot, to combine any two or more lots or to withdraw any lot or lots from the sale, to refuse bids, regulate bidding or cancel the sale without in any case giving any reason or without previous notice. He may bid on behalf of the vendor for all goods, which are being offered subject to reserve or at the Auctioneers discretion. b) The highest bidder shall be the buyer, who enters into a legally binding contract under the Sale of Goods Act 1979. The Auctioneer may at his sole discretion determine the advance of bidding or refuse a bid. If during the auction the Auctioneer considers that a dispute has arisen, he has absolute discretion to settle it or re-offer the lot. c) Each lot is put up for sale subject to any reserve price placed by the vendor. Where there is no reserve price (but not otherwise) the seller has the right to bid either personally or by any one person (who may be the Auctioneer). d) All conditions, notices, descriptions, 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 to any bid being accepted for the lot. 4. Rescision. Notwithstanding any other terms or these conditions, if within seven days after the sale, having received from the buyer of any lot, in writing, that in his view the lot is a deliberate forgery and within fourteen days after such notification the buyer returns the same Town Road Auctions in the same condition as at the time of the sale and by producing evidence, the burden of proof to be upon the buyer, satisfied Town Road Auctions that considered in the light of the entry in the catalogue the lot is a deliberate forgery then the sale of the lot will be rescinded and the purchase price of the same refunded. The vendor agrees to be bound by Town Road Auctions decision. 5. Default. Town Road Auctions disclaim responsibility for default by either the buyer or the vendor because they act as Auctioneers only and therefore do not pay out to the vendor until payment is received from the buyer. Instructions given by telephone are accepted at the sender’s risk and must be confirmed in writing forthwith. 6. Third Party Liability. Every person on Town Road Auctions premises at any time shall be deemed to be there at his own risk. He shall have no claim against Town Road Auctions in respect of any accident which may occur or injury, damage or loss howsoever caused, save in sofaras the injury, damage or loss shall be caused by the negligence of Town Road Auctions employees. 7. Premium. The buyer shall pay the hammer price together with a premium of 15% of the hammer price. CONDITIONS OF SALE APPLICABLE TO SELLERS 8. Commission Charges for Vendors are per lot and are as follows: An entry fee of £1 per lot is payable. A ‘No Sale’ fee of £1 per lot is payable. A charge of 15% of the Hammer Price for lots with a hammer price up to £1000, with a reduced commission rate of 10% for lots with a hammer price above £1000. 9. Instructions. As Town Road Auctions are auctioneers, all goods delivered to Town Road Auctions premises will be deemed to be delivered for sale by auction unless otherwise stated in writing and will be catalogued and sold at Town Road Auctions discretion, and accepted by Town Road Auctions subject to all the sale conditions. By delivering the goods to Town Road Auctions for inclusion in their auction sales each vendor acknowledges that he or she has accepted and agreed to be bound by all these conditions. 10. Reserves. Town Road Auctions will be pleased to advise on suitable protective reserves, but if no reserve has been received prior to the day of sale, the lot will be sold without reserve or at the discretion of the auctioneer. Reserves must be confirmed in writing or notified on the receipt at the time of delivery. 11. Vendors will be charged for goods left on the premises if the vendor has been requested to remove them and if the goods are not removed within fourteen days of such request Town Road Auctions Auctioneers reserve the right to sell the goods to defray costs and storage charges. 12. Town Road Auctions reserve the right to store or arrange the storage of goods delivered to them for sale either on their own premises or elsewhere at their sole discretion. They exempt themselves from any liability for loss or damage to goods delivered to their salerooms without sufficient sale instructions. 13. All goods will be held insured against the risks of fire, burglary and water damage. The value of the goods so covered shall be the gross amount realised or in the case of unsold lots the best bid, or in the case of withdrawn lots prior to a sale that which the specialised staff of Town Road Auctions shall in their absolute discretion, estimate to be the auction value of goods.
14. The vendor will duly indemnify Town Road Auctions in connection with any goods sold on the vendor’s behalf. 15. Town Road Auctions declaim all responsibility for loss or damage of goods, or for unauthorised removal of goods unless caused by negligence by their employees. 16. All lots to be at the sole risk and charge of the purchaser from the fall of the hammer, and such lots to be taken away with all faults, defects and errors in descriptions without any power of dispute, at the risk and expense of the purchaser. No purchaser shall be entitled to remove any lot until payment has been received in full for the lots purchased 17. Settlement is normally 1 week post auction less charges, providing Town Road Auctions have been paid by the purchaser. Where the Hammer Price is less than £5 Town Road Auctions will not pay out in order to defray administration costs. 18. All catalogued lots withdrawn prior to auction will incur a minimum £10 withdrawal fee if valued at under £50, or 15% of the lower estimate of items valued at over £50. 19. Expenses: Vendors agree to pay all costs relating to packing and shipping the lots to the saleroom or returned. 20. Value Added Tax. A vendor who sends for sale by auction any chattel(s) which are an asset of his own business must disclose to the Auctioneer whether or not he is a registered person for VAT purposes, and, if so, his registered number and whether or not he intends to operate the special scheme covering works of art etc. This information must be supplied to the Auctioneer on or prior to delivery of the goods. 21. Electrical and Mechanical goods: The seller or consignor of electrical or mechanical goods warrants and undertakes to Town Road Auctions that at the date on which the same are consigned to the sale rooms are safe, if reasonable to do so, if used for the purpose for which they were designed and free from any defect not obviously on external inspection which could prove dangerous to human life or health and will indemnify Town Road Auctions and its servants and agents against loss or damage suffered by any of them in consequence of any breach of the above warranty and undertaking, Town Road Auctions reserve the right to make a minimum charge of £1.50 per item to have the goods checked for the safety of the item. All charges are subject to VAT. 22. Estimates: All auction estimates and descriptions are subject to revision at any point up until sale.