Terms and Conditions
GENERAL CONDITIONS OF SALE
The nature of the relationship between CPKS Asset Management Ltd, as auctioneer and bidders and the terms on which the auction is held are set out below. Bidders, as prospective purchasers should pay particular attention to these Conditions.
1. Introduction :
A sale contract is made directly between CPKS Asset Management Ltd and the Buyer.
2. Common Terms In these Conditions of Business:
“CPKS Asset Management Ltd” is the Auctioneer,
“Bidder” is any person making a bid and includes Buyers;
“Buyer” is the person that makes the highest bid or the winning bid accepted by the auctioneer.
“Buyer’s Expenses” are any costs or expenses due from the Buyer.
“Hammer Price” is the highest bid accepted by the auctioneer by the fall of the hammer;
“Purchase Price” is the Hammer Price plus Buyers premium.
“Reserve” is the (confidential) minimum Hammer Price at which the Seller has agreed to sell a lot;
3. Duties of Bidders and CPKS Asset Management Ltd in respect of items for sale
(a) Each lot offered for sale may or may not be available for inspection by Bidders prior to the sale. It is the responsibility of the Bidder to satisfy themselves as to both the condition of the lot and the accuracy of its description.
(b) All lots are offered for sale in the condition they are in at the time of the auction. It is the bidder’s responsibility to inspect lots prior to purchase. Photographs included on the internet are for identification purposes only and will not convey full information as to the actual condition of lots.
(c) Information provided to Bidders in respect of any lot, including any estimate, whether written or oral and including information in any catalogue, condition or other report, commentary or valuation, is not a representation of fact but rather is a statement of opinion genuinely held by CPKS Asset Management Ltd. Any estimate may not be relied on as a prediction of the selling price or value of the lot and may be revised from time to time.
4. Exclusions and limitations of liability to Buyers (a) In the light of the matters in Condition 3 above and subject to Conditions
(a) CPKS Asset Management Ltd :
(I) is not liable for any errors or omissions in information provided to CPKS Management, whether orally or in writing, whether negligent or otherwise; Whilst we seek to describe lots accurately, it may be impractical for us to carry out exhaustive due diligence on each lot. Prospective buyers are given ample opportunities to view and inspect before any sale and they (and any independent experts on their behalf) must satisfy themselves as to the accuracy of any description applied to a lot. Prospective buyers also bid on the understanding that, inevitably, representations or statements by us as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price involve matters of opinion. We undertake that any such opinion shall be honestly and reasonably held. Subject to the foregoing neither we the auctioneer nor our employees or agents accept liability for the correctness of such opinions and all conditions and warranties, whether relating to description, condition or quality of lots, express, implied or statutory, are hereby excluded.
(II) does not give any guarantee or warranty to Bidders and any implied warranties and conditions are excluded (save in so far as such obligations cannot be excluded by law);
(III) does not accept responsibility to any Bidders in respect of acts or omissions (whether negligent or otherwise).
(b) Any claim against CPKS Asset Management Ltd by a Bidder is limited to the Purchase Price with regard to that lot. Neither CPKS Asset Management Ltd shall under any circumstances be liable for any consequential losses.
(c) None of this Condition 4 shall exclude or limit CPKS Asset Management Ltd’s liability in respect of any fraudulent misrepresentation made by CPKS Asset Management Ltd , or in respect of death or personal injury caused by the negligent acts or omissions of CPKS Asset Management Ltd.
5. Bidding at Auction
CPKS Asset Management Ltd has absolute discretion to refuse admission to their auctions. Bidders are personally liable for their bid.
6. Conduct of the Auction
(a) Unless otherwise specified, all lots are offered with no reserve.
(b) The auctioneer has discretion at any time to refuse any bid, withdraw any lot, re-offer a lot for sale (including after the fall of the hammer) if he believes there may be error or dispute, and take such other action as he reasonably thinks fit.
(c) The auctioneer will commence and advance the bidding at levels and in increments he considers appropriate.
(d) Subject to Condition 6(b), the contract between the Buyer and CPKS Asset Management Ltd is concluded on the striking of the auctioneer’s hammer, whereupon the Buyer becomes liable to pay the Purchase Price.
(e) Any post-auction sale of lots offered at auction shall incorporate these Conditions as if sold in the original auction.
7. Payment and Collection
(a) Your obligation to pay the purchase price arises when the lot is knocked down to you on the fall of the Auctioneer’s hammer in respect of the lot.
(b) All lots are subject to Buyers Premium of 18% added to the hammer price. After 5pm on the second working day after the sale day, the buyers premium will increase to 25% if the Buyer has failed to pay.
(c) Unless agreed in writing with you by CPKS Asset Management Ltd, you must pay all sums to CPKS Asset Management Ltd, in the currency in which the sale was conducted immediately upon winning the lot and you must ensure that the funds are cleared by the 5th working day after the sale. Payment must be made to CPKS Asset Management Ltd in GBP (£ Sterling) by bank transfer, credit card, debit card or Paypal unless otherwise agreed with you in writing by CPKS Asset Management Ltd. If you do not pay any sums due in accordance with this clause, the seller will have the rights to withhold the lot and re-sell after 14 days.
(d) Bank Transfer payments should be made to
Account Name: CPKS Asset Management Ltd
Sort Code: 30-67-69
Account Number :
Please state your buyer number as the payment reference.
(e) Paypal payments should be made to firstname.lastname@example.org.
(f) A button to enable credit/debit card payments will be available on the e-invoice.
(g) Pro- forma invoices will be issued before mid-day on the next working day after the completion of the sale. Buyers MUST check their email and spam / junk folders if the email is not received. If not received, you must email us immediately stating ‘’INVOICE NOT RECEIVED’’ in the subject line to email@example.com. Please do not phone as the phone lines are very busy. Orders will be despatched in the order payments are received. Therefore those who pay early will get priority.
(h) Address - All changes of delivery requirements MUST be notified by 5pm the day that the invoice is sent. ALL such changes must be notified by email to firstname.lastname@example.org. Any such requests will be confirmed by return email where at all possible. Lots will be sent to the address registered with easyliveauction.com and it is therefore important that the address is up to date.
(i) Title in a purchased lot will not pass until CPKS Asset Management Ltd has received the Purchase Price for that lot in cleared funds. CPKS Asset Management Ltd is not obliged to release a lot to the Buyer until the title of the lot has passed. Any earlier release does not affect the passing of title or the Buyer’s unconditional obligation to pay the Purchase Price.
(j) Unless stated otherwise in the description the lot will include free postage in the UK. The purchaser will be responsible for paying the daily storage cost of £1.00 per day from the 5th day after the auction closing date. Failure to pay within 5 days the full purchase price in cleared funds, could result in CPKS Asset Management Ltd retaining the title of the lot and the decision regarding this will be at CPKS Asset Management Ltd discretion.
8. Failure to pay for the lot
(a) If the purchase price for a lot is not paid within 5 days following the auction to CPKS Asset Management Ltd in full accordance with the contract, CPKS Asset Management Ltd will be entitled, without further notice to you, to exercise one or more of the following rights:
(1) To terminate immediately the contract for sale of the lot for your breach of contract
(2) To re-sell the lot by auction, private treaty or any other means after 14 days.
(3) To retain possession of the lot
(4) To remove and store the lot at your expense
(5) To take legal proceedings against you for any sum due to the contract for sale and/or damages for the breach of contract
(6) Any buyers who default on payment of purchased items may be “blacklisted” and barred from all further CPKS Asset Management Ltd sales. This information may be shared with other auctioneers.
9. CPKS Asset Management liability
(a) CPKS Asset Management will not be liable for any injury, loss or damage caused by the lot after the fall of the Auctioneer’s hammer in respect of the lot.
(b) CPKS Asset Management will not be liable (whether in negligence, other tort, breach of contract or statutory duty or in restitution or under the Misrepresentation Act 1967, or in any other way) for any lack of conformity with, or inaccuracy of the lot or any entry or estimate in relation to the lot.
(c) CPKS Asset Management and Easy Live Auction will not be liable should there be any technical difficulties impeding online bids.
(a) All images and other materials produced for the auction are the copyright of CPKS Asset Management Ltd, for use at the discretion of CPKS Asset Management Ltd.
(b) Should any provision of these Conditions of Business be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.
(c) These Conditions of Business are not assignable by any Buyer without CPKS Asset Management Ltd’s prior written consent, but are binding on Buyers’ successors, assigns and representatives. No act, omission or delay by CPKS Asset Management Ltd shall be deemed a waiver or release of any of its rights.