1. There is a Buyers Premium of 20% + VAT of the hammer price on each lot. The buyers’ premium only is subject to VAT at the standard rate
All lots are available for inspection, upon request.
Reserves & Estimates:
(a) A vendor is entitled to place prior to the auction a reserve on any lot consigned, being the
minimum hammer price at which that lot may be sold. Reserves must be reasonable and
we may decline to offer goods, which in our opinion would be subject to an unreasonably
high reserve (in which case goods carry the storage and insurance charges stipulated in
these ?Terms of consignment?).
(b) A reserve once set cannot be changed except with our consent.
(c) Where a reserve has been placed only we may bid on your behalf and only up to the
reserve (if any) and you may in no circumstances bid personally.
(d) Estimates are not Reserves. Estimates are given as a guide to buyers. Unreserved items
may sell at a fraction of an estimate if no reserve has been agreed.
2. All items sold are subject to a seller's commission of up to 15% + VAT. The Online Auction House can charge for photography, marketing, insurance, handling fees, withdrawal or unsold lots unless a waiver to these charges is agreed by the company. Items are insured with the auctioneer at a rate of 1.5% of the reserve price.
4. The Online Auction House offers a brokerage service for clients who would like to offer items for sale outside of the auction timeline. Please contact firstname.lastname@example.org for further details.
5. Sale results will be sent out the day following the auction and payments for sold lots will be made to the vendor within 30 days, provided the buyer's payment has been received. Should no payment be received within this time we will cancel the sale and offer the item in our next appropriate sale.
6. Unsold lots
Unsold lots should be collected from The Online Auction House within one week of the sale unless a longer period is agreed with the auctioneer. Unsold lots that remain uncollected without prior arrangement will incur storage charges of £5 per day.
Alternatively, if agreed, unsold lots may be offered for resale at The Online Auction House, generally at a lower reserve in the next suitable sale or the auctioneer will arrange for the items to be returned to the vendor.
7. Third party conflicts.
The vendor confirms true title to the lots entered for sale, free from any third party claim or conflict.
Any such conflict will result in a lot or lots being withdrawn from the auction until any disputes are settled
We shall not be responsible for damage to or the loss, theft or destruction of any goods not so insured
upon the owner?s written instructions.
· We shall not be responsible for accidental breakage, loss or damage howsoever caused, unless directly
caused by negligence of their employees.
· In respect of any article delivered to us if the vendor has in force a policy or policies of insurance in
which is specifically mentioned as being insured, whether or not for any agreed sum or value, the vendor
shall notify his insurers of and shall himself note our interest as bailee in such policy or policies.
9. Value Added Tax: A vendor who sends for sale by auction any chattel(s) which is an asset of
business must disclose to us whether or not [s]he has a registered VAT number, and thus the
number. This information must be supplied to the Auctioneer on or prior to delivery of goods.
10. Ownership & Indemnity: The vendor declares that the goods entered are their own and unencumbered.