Terms and Conditions
INFORMATION FOR BUYERS
1. Introduction.
The following information notes are intended to assist Buyers, particularly those inexperienced or new to our salerooms, All sales are conducted on our printed Conditions of Sale which are readily available for inspection and normally accompany catalogues. Our staff will be happy to help you if there is anything you do not fully understand.
2. Agency.
As auctioneers we usually contract as agents for the seller whose identity, for reasons of confidentiality, is not normally disclosed. Accordingly if you buy your primary contract is with the seller.
3. Estimates.
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 and certainly will not be below it. Estimates do not include the Buyer's Premium or VAT (where chargeable). Estimates are prepared some time before the sale and may be altered by announcement before the sale. They are in no sense definitive.
4. Buyer's Premium.
The Conditions of Sale oblige buyers to pay a buyer's premium at 25% on the hammer price of each lot purchased. In addition, VAT will be added to this premium (see below). Any online bidding charges if the bid is made through a. Our won website, b. Easy Live Auction are not included in the 25% buyers premium (plus vat).
5. VAT.
(*) indicates that VAT is payable by the purchaser at the standard rate (presently 20%) on the hammer price as well as being an clement in the buyer's premium. This imposition of VAT is likely to be because the seller is registered for VAT within the European Union and is not operating the Dealers Margin Scheme or because VAT is due at 17.5% on importation into the UK.The double symbol ( ** ) indicates that the lot has been imported from outside the European Union and the present position is that these lots are liable to a reduced rate of VAT (5%) on the gross lot price (i.e.both the hammer price and the buyer's premium). Lots which appear without either of the above symbols indicate that no VAT is payable on the hammer price. This is because such lots are sold using the Auctioneers' Margin Scheme and it should be noted that the VAT included within the Premium is not recoverable as input tax
6. Condition of lots.
Subject to paragraph 7, we are primarily, agents for the seller. We are dependent on information provided by the seller and we are normally unable to carry out detailed or any examination ofl ots. Intending buyers have ample opportunity for inspection of goods and, therefore, accept responsibility for inspecting and investigating lots in which they may be interested. Please note carefully the exclusion of liability for the condition of lots contained in the Conditions of Sale. Neither the seller nor we, as the auctioneers, accept any responsibility for their condition. In particular, mechanical objects of any age are not guaranteed to be in working order. Additionally, in specified circumstances lots misdescribed because they are 'deliberate forgeries' may be returned and repayment made. There is a 3 week time limit. (The expression 'deliberate forgery' is defined in our Conditions of Sale).
7. Condition reports.
We may be able to assist buyers unable to view by posting or faxing a condition report, but these reports are based solely on our own opinion and are for guidance only and no responsibility is accepted for their accuracy. Intending buyers are strongly encouraged to view. (Please see our Conditions of Sale).
8. Electrical goods.
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.
9. Export of goods.
Buyers intending to export goods should ascertain (a) whether an export licence is required and (b) whether there is any specific prohibition on importing goods of that character because, e.g. they may contain prohibited materials such as ivory. Ask us if you need help.
10. Bidding.
Bidders will be required to register before the sale commences and lots will be invoiced to the name and address on the registration form. Some form of identification may be required if you are unknown to us. Please enquire in advance about our arrangements for telephone bidding.
11. Commission bidding.
Commission bids may be left with the auctioneers indicating the maximum amount to be bid excluding buyers' 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 auctioneers may prefer the first bid received. Please enquire in advance about our arrangements for the leaving of commission bids by telephone or FAX.
12. Methods of Payment.
As a general rule card or bank transfer payments are the preferred method of payment, any cheques tendered will need to be cleared before removal of the goods is permitted. Please discuss with our Office in advance of the sale if other methods of payment are envisaged (except cash).
13. Collection and storage.
Please note what the Conditions of Sale state about collection and storage. It is important that goods are paid for and collected promptly. Any delay may involve the buyer in paying our storage charges.
(4) CONDITIONS OF SALE
Hamilton Square Auction Company Ltd carries on business With bidders, buyers and all those present in the auction room prior to or in connection with a sale on the following General Conditions and on such other terms, conditions and notices as may be referred to herein.
1. DEFINITIONS
In these Conditions: (a) "auctioneer" means the firm of Hamilton Square Auctioneers Ltd or its authorized auctioneer, as appropriate;
(b) "deliberate forgery" means an imitation made with the intention of deceiving as to authorship, origin, date, age, period, culture or source but which is unequivocally described in the catalogue as being the work of a particular creator and which at the date of the sale had a value materially less than it would have had if it had been in accordance with the description.
(c) "hammer price" means the level of bidding reached (at or above any reserve) when the auctioneer brings down the hammer;
(d) "terms of consignment" means the stipulated terms and rates of commission on which Hamilton Square Auctioneers Ltd accepts instructions from sellers or their agents;
(e) "total amount due" means the hammer price in respect of the lot sold together with any premium, Value Added Tax chargeable and any additional charges payable by a defaulting buyer under these Conditions;
(f) "sale procceds" means the net amount due to the seller, being the hammer price of the lot sold less commission at the stated rate, Value Added Tax chargeable and any other amounts due to us by the seller in whatever capacity and however arising,
(g) "You","Your", etc. refer to the buyer as identified in Condition 2.
(h) The singular includes the plural and vice versa as appropriate.
2. BIDDING PROCEDURES AND THE BUYER
(a) Bidders are required to register their particulars before bidding and to satisfy any security arrangements (including providing verifiable photographic ID with home address) before entering the auction room to view or bid;
(b) the maker of the highest bid accepted by the auctioneer conducting the sale shall be the buyer at the hammer price and any dispute about a bid shall be settled at the auctioneer's absolute discretion by re-offering the lot during the course of the auction or otherwise. The auctioneer shall act reasonably in exercising this discretion.
(c) Bidders shall be deemed to act as principals.
(d) Once made, no bid may be withdrawn.
(2) Our right to bid on behalf of the seller is expressly reserved up to the amount of any reserve and the right to refuse any bid is also reserved.
3. INCREMENTS
Bidding increments shall be at the auctioneer's sole discretion.
4. THE PURCHASE PRICE
The buyer shall pay the hammer price together with a premium thereon of 25% [or incremental] with the addition of VAT on the premium at the rate imposed by law.
5. VALUE ADDED TAX
Value Added Tax on the hammer price is imposed by law on all items affixed with an asterisk or double asterisk. Value Added Tax is charged at the appropriate rate prevailing by law at the date of sale and is payable by buyers of relevant Lots. (Please refer to "Information for Buyers" for a brief explanation of the VAT position).
6. PAYMENT
(1) Immediately a Lot is sold you will:
(a) give to us, if requested, proof of identity, and
(b) pay to us the total amount due in cash or in such other way as is agreed by us.
(2) Any payments by you to us may be applied by us towards any sums owing from you to us on any account whatever without regard to any directions of you or your agent, whether express or implied.
7. TITLE AND COLLECTION OF PURCHASES
(1) The ownership of any Lots purchased shall not pass to you until you have made payment in full to us of the total amount due.
(2) You shall at your own risk and expense take away any lots that you have purchased and paid for not later than 3 working days following the day of the auction after which you shall be responsible for any removal, storage and insurance charges.
(3) No purchase can be claimed or removed until it has been paid for.
8. REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES
If any Lot is not paid for in full and taken away in accordance with these Conditions or if there is any other breach of these Conditions, we as agent for the seller shall at our absolute discretion and without prejudice to any other rights we may have, be entitled to exercise one or more of the following rights and remedies:
(a) to proceed against you for damages for breach of contract;
(b) to rescind the sale of that Lot and/or any other Lots sold by us to you;
(c) to resell the Lot (by auction or private treaty) in which case you shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs). Any surplus so arising shall belong to the seller;
(d) to remove, store and insure the Lot at your expense and, in the case of storage, either at our premises or elsewhere;
(e) to charge interest at a rate not exceeding 1.5% per month on the total amount due to the extent it remains unpaid for more than 3 working days after the sale;
(f) to retain that or any other Lot sold to you until you pay the total amount due;
(g) to reject or ignore bids from you or your agent at future auctions or to impose conditions before any such bids shall be accepted;
(h) to apply any proceeds of sale of other Lots due or in future becoming due to you towards the settlement of the total amount due and to exercise
a lien (that is a right to retain possession of) any of your property in our possession for any purpose until the debt due is satisfied.
9. THIRD PARTY LIABILITY
All members of the public on our premises are there at their own risk and must note the lay-out of the accommodation and security arrangements. Accordingly neither the auctioneer nor our employees or agents shall incur liability for death or personal injury or similarly for the safety of the property of persons visiting prior to or at a sale.
10. COMMISSION BIDS
Whilst prospective buyers are strongly advised to attend the auction and are always responsible for any decision to bid for a particular Lot and shall be assumed to have carefully inspected and satisfied themselves as to its condition we will if so instructed clearly and in writing execute bids on their behalf. Neither the auctioneer nor our employees or agents shall be responsible for any failure to do so save where such failure is unreasonable. Where two or more commission bids at the same level are recorded we reserve the right in our absolute discretion to prefer the first bid so made.
11. WARRANTY OF TITLE AND AVAILABILITY
The seller warrants to the auctioneer and you that the seller is the true owner of the property consigned or is properly authorized by the true owner to consign it for sale and is able to transfer good and marketable title to the property free from any third party claims.
12. AGENCY
The auctioneer normally acts as agent only and disclaims any responsibility for default by sellers or buyers.
13.TERMS OF SALE
The seller acknowledges that Lots are sold subject to the stipulations of these Conditions in their entirety and on the Terms of Consignment as notified to the consignor at the time of the entry of the Lot.
14. DESCRIPTIONS AND CONDITION
(1) Subject to the next following Condition concerning deliberate forgeries, any representation or statement by us in any catalogue as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only. Prospective buyers are given ample opportunities to view and inspect before any sale and prospective buyers must satisfy themselves as to all such matters. Save as provided herein neither we the auctioneer nor our employees or agents nor the seller 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
(2) Private treaty sales made under these Conditions are deemed to be sales by auction for purposes of consumer legislation.
15. FORGERIES
Notwithstanding the preceding Condition, any Lot which proves to be a deliberate forgery (as defined) may be returned to us by you within 21 days of the auction provided it is in the same condition as when bought, and is accompanied by particulars identifying it from the relevant catalogue description and a written statement of defects. If we are satisfied from the evidence presented that the Lot is a deliberate forgery we shall refund the money paid by you for the Lot including any buyer's premium (but not the amount of any consequential loss, damages, expenses or interest) provided that (1) if the catalogue description reflected the accepted view of scholars and experts as at the date of sale or (2) you personally are not able to transfer a good and marketable title to us, you shall have no rights under this condition.
GENERAL
16. We shall have the right at our discretion, to refuse admission to our premises or attendance at our auctions by any person.
17. Any right to compensation for losses liabilities and expenses incurred in respect of and as a result of any breach of these Conditions and any exclusions provided by them shall extend to all actions, costs, expenses, claims and demands whatsoever suffered or incurred by the person entitled to the benefit of such and such rights and exclusions shall extend to and be deemed to be for the benefit of employees and agents who may themselves enforce such rights.
18. Any notice to any buyer, seller, bidder or viewer may be given by first class mail or email in which case it shall be deemed to have been received by the addressee 48 hours after posting.
19. Special terms may be used in catalogue descriptions of particular classes of items in which case the descriptions must be interpreted in accordance with any glossary appearing at the commencement of the catalogue.
20. Any indulgence extended to bidders buyers or sellers by us notwithstanding the strict terms of these Conditions or of the Terms of Consignment shall affect the position at the relevant time only and in respect of that particular concession only; in all other respects these Conditions shall be construed as having full force and effect.
21. English law applies to the interpretation of these Conditions.
TERMS OF CONSIGNMENT FOR SELLERS
1. Interpretation.
In these Terms the words 'you', 'yours', etc. refer to the Seller and if the consignment of goods to us is made by an agent we assume that the Seller has authorized the consignment and that the consignor has the Seller's authority to contract. Similarly the words we',
'us', etc. refer to the Auctioneers.
2. Commission is charged to sellers at the following rates :- 25% plus VAT. A minimum charge of (£10 per lot will be applied to sold and unsold lots).
Other charges may apply, please refer to our administration staff.
Introductory Commission
Hamilton Square Auctioneers Ltd reserves the right to make occasional relevant and appropriate Introductory Commission payments, without cost to the vendors or buyers.
3. Removal costs. Items for sale must be consigned to the sale room by any stated deadline and at your expense. We may be able to assist you with this process but any liability incurred to a carrier for haulage charges is solely your responsibility.
4. Insurance of goods. (a) All goods on our premises or under our control are insured against all risks while so placed. The Auctioneers shall not be responsible for damage to, or the loss, theft or destruction of any goods not so insured. (b) If the owner of goods consigned instructs us in writing not to insure them, they then remain at owner's risk unless and until the property in them passes to the Buyer or are collected back by or on behalf of the owner, and clause 4(a) is inapplicable.
If the vendor has in force a Policy or Policies of Insurance in which the article is specifically mentioned as being insured ( whether or not for an agreed sum or value ) the vendor shall notify his insurers of, and shall himself note the Auctioneers Interest as Bailees in such policies or policy.
5. Illustrations. The cost of any illustrations in the catalogue is generally borne by The auctioneer. However a standard charge of may be applied for any additional images required for advertising and promotional work, contact auctioneer for details. We consider that the Lot should be illustrated for compliance with distance selling regulations. The copyright in respect of such illustrations shall be the property of us, the auctioneers, as is the text of the catalogue.
6. Minimum bids and our discretion. Goods will normally be offered subject to a reserve agreed between us before the sale in accordance with clause 7.We may sell Lots below the reserve provided we account to you for the same sale proceeds as you would have received had the reserve been the hammer price. If you specifically give us a "discretion" we may accept a bid of up to 10% below the formal reserve on your behalf.
7. Reserves.
(a) You are 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). Generally speaking lots with a bottom estimate of £100 or below will be sold without reserve.
(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
8. Electrical items.
These are subject to detailed statutory safety controls. Where such items are accepted for sale you accept responsibility for the cost of testing by external contractors. Goods not certified as safe by an electrician (unless antiques) will not be accepted for sale. They must be removed at your expense on your being notified. We reserve the right to dispose of unsafe goods as refuse, at your expense
9. Soft furnishings.
The sale of soft furnishings is strictly regulated by statute law in the interests of fire safety. Goods found to infringe safety regulations will not be offered and must be removed at your expense. We reserve the right to dispose of unsafe goods as refuse, at your expense. The rights of disposal referred to in clause 8 and 9 are subject to the provisions of The Torts (Interference with Goods) Act 1977, Schedule 1, a copy of which is available for inspection on request
10. Descriptions.
Please assist us with accurate information as to the provenance etc. of goods where this is relevant. There is strict liability for the accuracy of descriptions under modern consumer legislation and in some circumstances responsibility lies with sellers if inaccuracies occur. We will assume that you have approved the catalogue description of your lots unless informed to the contrary
11. Unsold and withdrawn items. If an item is unsold it may with your consent be re-offered at a future sale. Where in our opinion an item is unsaleable you must re-collect such items from the saleroom promptly on being so informed. Otherwise, storage charges may be incurred. We reserve the right to charge for storage in these circumstances at a reasonable daily rate.
12. Withdrawn and bought in items.
These are liable to incur a charge of 10% plus VAT of the mid-estimate on being bought in or withdrawn after being catalogued.
13. Conditions of Sale.
You agree that all goods will be sold on our Conditions of Sale, In particular you undertake that you have the right to sell the goods either as owner or agent for the owner. You undertake to compensate us and any buyer or third party for all losses liabilities and expenses incurred in respect of and as a result of any breach of this undertaking.
14. Authority to deduct commission and expenses and retain premium and interest.
(a) You authorise us to deduct commission at the stated rate and all expenses incurred for your account from the hammer price and consent to our right to retain beneficially the premium paid by the buyer in accordance with our Conditions of Sale and any interest earned on the sale proceeds until the date of settlement.
(b) You authorize us in our discretion to negotiate a sale by private treaty not later than the close of business on the day of the sale in the case of lots unsold at auction, in which case the same charges will be payable as if such lots had been sold at auction and so far as appropriate these Terms apply.
15. Warehousing.
We disclaim all liability for goods delivered to our saleroom without sufficient sale instructions. and reserve the right to make minimum warehousing charge of £5 per lot per day. Unsold lots are subject to the same charges if you do not remove them within a reasonable time of notification. If not removed within three weeks we reserve the right to sell them and defray charges from any net proceeds of sale or at your expense to consign them to the local authority for disposal.
16. Settlement.
After sale settlement of the net sum due to you normally takes place within 28 days of the sale (by crossed cheque to the seller) unless the buyer has not paid for the goods. In this case no settlement will then be made but we will take your instructions in the light of our Conditions of Sale. You authorize any sums owed by you to us on other transactions to be deducted from the sale proceeds.
Client Account Details: Natwest Reserve Acc., Sort Code: 01-07-02
Account number: 56644124
Classic & Prestige Cars
Buyers Premium 10% + VAT
Minimum Commission: Cars £150 +VAT
Please note that our estimates follow RICS guidelines and reflect the true price of the vehicles offered, RICS regulations state that ' low estimates must reflect truthfully prices at which cars can be bought, and certainly must not be lower than reserves'.
We believe we are unique in estimating our cars at real prices, a practice not followed by other classic car auctioneers who very often have low estimates far below the price for which the car can be bought.
Hamilton Square Auctioneers
Terms and Conditions for Car Sales
1. CONDITIONS OF SALE
All lots will be offered for sale subject to these conditions of sale for motor vehicles.
2.Hamilton Square Auctioneers Ltd (Hereafter referred to as HSA)
Hamilton Square Auctioneers Lt (HSA) act as agents for the seller of each lot and shall not be party to or liable in any manner whatsoever on any contract of sale between the seller and the buyer.
3. BIDDING
1. The highest bidder for each lot shall be the buyer thereof and his bid shall be the final bid price subject to any reserve price imposed by the seller and subject to the following conditions.
2. HSA may without giving any reason therefore refuse to accept the bidding of any person or persons.
3. In the event of any dispute arising as to the bid or bidding, the lot in respect of which the dispute arises shall be immediately put up for sale again at the last undisputed bidding, or, at HSA discretion, the dispute may be determined by HSA and in that case their determination shall be final and binding
4. No person may advance less as a bid than the sum named from time to time by the auctioneer.
4. SELLERS
1. Sellers may place a reserve on any lot entered by them and HSA shall have the right to bid on behalf of the seller where such a reserve has been placed.
2. HSA shall have the right to withdraw any lot or to combine any 2 or more lots at their absolute discretion.
3. Once HSA has accepted a lot and its reserve price no increase in that reserve will be allowed.
4. In the event that a seller fails to present for whatever reason or withdraws a lot after it has been accepted for sale but before it is offered for sale, HSA shall be entitled to a cancellation fee of 10% of the reserve price or, where no reserve has been placed on the lot, 10% of HSA valuation of the lot subject to minimum of £150. In both cases HAS shall also be entitled to the current entry fee.
5. In the event that the bidding on any lot fails to reach the reserve set by the seller, HSA shall have the right a) to offer the lot for seven days, b) to sell the lot at anytime during the said seven days, subject to any reserve imposed by the seller, and c) to charge a commission to both buyer and seller in accordance with conditions 4(8) hereof each and every time a lot is sold within the said seven days, whether sold by the seller using the services of HSA or otherwise.
6.HSA shall have the right to charge a buyers commission as detailed in 4 (8) of the final bid price on all lots sold subject to a minimum charge of £150 (plus VAT).HSA shall also have the right to charge an entry fee of £50+VAT for a Standard Entry, £90+VAT for Platinum on each lot.
7. It is the sellers responsibility to make themselves available when their vehicle is being offered for sale. If the seller cannot be available in person he/she must either A) Provide a telephone number where he/she can be reached or B) Nominate an agent who can make a decision on accepting provisional bids. If a seller or an agent is not available to give instruction HSA reserves the right to charge the seller 10 % of the bid price (plus VAT) or sell the car, if the Provisional Bid is within 10% of the reserve.
8. Value Added Tax will be added to all charges made by HSA in accordance with legislation current at the time of sale.
9. Sellers Commission:
No sellers commission is charged for the sale of Classic Cars.
10. Lots offered at NO RESERVE shall be sold to the highest bidder at the time of the sale.
11. Sellers are reminded that all lots are held at the sole risk of the seller until the fall of the hammer and HSA will not accept any liability for loss of or damage to any lot.
12. HSA reserve the right to photograph, or have photographed, any vehicle entered for sale. These photographs, and any supplied by the vendor, will be for illustrative purposes only. They will become the property of HSA and all copyright for the said photographs will be vested in HSA who may use the photographs at their discretion, at any time, without payment to the owner of the vehicle.
5. DESCRIPTION
1.All lots (including odometer readings thereon) are sold and purchased as seen. A vehicle sold as seen is sold and purchased for what it is and with all its faults (if any) and without any condition, warranty or other term (whether expressed or implied and whether implied by statute, common law, custom or otherwise) as to the age, description, mileage, suitability, fitness for purpose, Merchantable quality or roadworthiness of the vehicle.
2. Every effort has been made to ensure the accuracy of the description of each lot, but these, whether made orally or in the catalogue, are expressions of opinion and not representations of fact. Illustrations in the catalogue are solely for guidance and must not be relied upon in any manner whatsoever. Many lots are of an age and nature which precludes their being in pristine condition and some catalogue descriptions make reference to damage and/or restoration. Such information is given for guidance only and the condition of any lot and the nature and extent of any damage and/or restoration should be confirmed by the buyer by examination prior to the sale. All prospective purchasers must satisfy themselves as to the condition; colour, age and all other matters relating to any lot and no claims will be accepted in respect of any such matter.
3. Whilst every endeavor has been made to ensure that the items lotted in this catalogue will be available and offered for sale in catalogue order, no responsibility can be accepted by the auctioneers for variations and omissions due to circumstances beyond their control. Neither HSA nor the sellers of any lot will accept responsibility for any misrepresentations, misdescriptions or omissions contained in this catalogue.
6. CONTRACT OF SALE
1. On the fall of the hammer, a contract of sale is completed between the seller and the buyer. HSA is not a party to the contract of sale and shall not be liable for any breach thereof by the buyer or the seller.
2. On the fall of the hammer, the highest bidder shall forthwith give his buyer's number to HSA and shall provide details of the arrangements for payment that he needs to implement.
3. Title to the lot shall pass to the buyer only when the full purchase price together with Value Added Tax, if applicable, has been paid to HSA.
4. Prior to the fall of the hammer, the lot shall be at the sole risk of the seller and neither HSA nor the owner of the auction premises (if different) shall be liable in any way for the lot.
7. PAYMENT
1. The purchase price payable by the buyer shall be the sum of the following.
a. the final bid price, and
b. European Union import duty, and
c. Value Added Tax, if applicable, on the sums described in clauses 7 (1.a) and 7 (1.b) above, and
d. a premium as listed in Buyers 8 (3) shall be charged on the final bid price subject to a minimum premium of £150 (plus VAT).
2. Value Added Tax will be added to all charges made by HSA in accordance with legislation current at the time of sale.
3.The buyer must pay the purchase price to HSA not later than 12 noon on the first working day following the sale.
4. No lot may be removed by the buyer from the auction site until it has been paid for in full.
5.All lots must be removed not later than 12 noon on the first working day following the sale.
6. Payment for all lots must be in Pounds Sterling and may be made in cash, by debit card (Switch, Delta, Connect, Visa Electron, Solo) or by Bank transfer or banker's draft. Absentee bidders must make prior arrangements with HSA for payment for their purchases.
7. In the event of failure by the buyer to remove or pay for his purchase, HSA shall have the right, at their absolute discretion and without prejudice to any other rights and remedies they may have, to:
a. resell the lot by auction, private sale or any other means that they see fit,
or
b. remove and store the lot at the buyers expense and at the buyer's risk and to release the same to the buyer only when the full purchase price and interest at 3% per annum above the National Westminster Bank PLC base.
