Terms of Business
General Conditions of Sale
• KLM Auctioneers Limited are referred to as ‘KLM Auctioneers’, ‘we’, ‘us’ or ‘our’ throughout these conditions. A representative of KLM Auctioneers is referred to as the Auctioneer. These definitions apply to these conditions and to the buyer’s and seller’s conditions.
• Buyer – the highest bidder on a lot as determined by the auctioneer.
• Buyer’s premium – percentage of the hammer price added to the hammer price payable to KLM Auctioneers.
• Conditions – these Terms of Business including the Buyer’s information form.
• Condition Report – a report conducted by us as to the condition of a lot upon request from a prospective buyer following the guidance found in the buyer’s information form.
• Sale – a purchase by the buyer of a lot from the seller.
• Prospective buyer – any person registering an interest in making a purchase of a lot.
• Day of sale - the date upon which an auction takes place for a lot.
• Lot/s – an item offered for sale by a seller at an auction conducted at our premises by an auctioneer.
• Hammer price – the final price bid by a prospective buyer prior to the auctioneer concluding an auction.
• Viewing day or days – a day determined at our discretion for prospective buyers to view lots. Time allocated for viewing will be determined according to the size and nature of the lots.
• ‘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.
• ‘Total amount due’ means the hammer price in respect of the lot sold together with any premium, VAT chargeable and any additional charges payable by a defaulting buyer under these conditions.
We act as agents for the seller, whose details remain confidential. If a person buys at auction the contract is with the seller, not us.
Descriptions and condition of lots
• 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 lots 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 and accept liability for opinions given negligently or fraudulently. Subject to the foregoing 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. This condition is subject to the next following condition concerning deliberate forgeries and applies to private treaty sales made.
• Condition reports are not printed in the catalogue or on our website however we are happy to provide them when requested subject to our terms and conditions of sale in writing or orally. The absence of any reference to condition in any description does not imply the lot is without fault.
• We accept no liability for any damage for any lot arising during the viewing, during the sale or after the sale. We act as agents only.
• Forgery: any lot that proves to be a deliberate forgery may be returned to KLM Auctioneers by the buyer within 21 days of the sale 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 statements of defects. If we are satisfied from the evidence presented that the lot is a deliberate forgery we shall refund the amount paid (including buyer’s premium) provided that (1) if the catalogue description reflected the accepted view of scholars and experts as at the date of the sale or (2) you are unable to transfer a good and marketable title to us, you shall have no rights under this condition.
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 (except as required by law by reason of our negligence) or similarly for the safety of the property of persons visiting prior to or at a sale.
Any dispute regarding any aspect of an auction shall be settled at the sole discretion of KLM Auctioneers.
• KLM Auctioneers has the right, at our discretion, to refuse admission to our premises or attendance at our auctions by any person.
• The auctioneer reserves the right to regulate the amount of the bids.
• The auctioneer reserves the right to bid on behalf of the seller where the sale is subject to a reserve.
• The auctioneer has the right to refuse bids from any person (subject to anti-discrimination laws).
• It will be at the auctioneer’s discretion as to the lotting of property for sale and as to any subsequent combination or division of lots.
• The auctioneer has the right to withdraw any lot from the sale and to cancel or alter the date, time and place of the action.
The principle of Caveat Emptor applies to the sale of all goods sold at auction by us. Furthermore, we have no control over the condition of any item offered for sale.
Artist’s Resale Rights
• Pictures produced by European Artists can be subject to the Artist’s Resale Right or Droit de Suite which took effect in the United Kingdom on the 14th February 2006. Under this legislation KLM Auctioneers is required to collect a royalty payment for works by a living artist which sell for more than 1000 Euros. This also applies to works by artists who have died within the last seventy years. It is calculated on the Rate of Exchange at the European Central Bank on the date of sale. It is charged to the buyer as a percentage of the hammer price and in addition to the buyer’s premium. The Artist’s Resale Right is not subject to VAT. Works of art sold at or above 1000 Euros and below 50000 Euros is 4%. It is the responsibility of the buyer to acquaint themselves with the actual Euro to UK sterling exchange rate on the day of sale. The actual qualifying threshold will be calculated by the Artist’s Resale Right Service Hub based on the European Central Bank reference rate published at 2.15 pm on the day of sale and can be found on www.dacs.org.uk
• No additional fees or handling costs are retained by KLM Auctioneers. An asterix against an item in the catalogue will indicate if the lot is a potentially qualifying item.
• Due to international laws, any item on the Endangered Species List (i.e. ivory, rhino horn etc.), whether it dates from the 18/19th century or the 1930s, requires re-export permits for bidders outside the EU(cities). Some countries also require import permits as well and all permits must be in place prior to shipment. KLM Auctioneers cannot be held liable if a purchaser buys a lot that falls within this field and then import/export licences cannot be arranged. Certain countries, particularly the USA, have their own Endangered Species Act (USASA) and possession or being involved in a commercial transaction with any item on this list can be an offence for a US resident. Therefore, it is the potential buyer’s responsibility to check Federal regulations before bidding for a lot, which comes under these or similar regulations.
• No license is required to sell or advertise within the EU if items are pre-1947.
Terms and Conditions for Buyers
Bidding Procedures and the buyer
• 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 reoffering the lot during the course of the auction or otherwise. The auctioneer shall act reasonably in exercising this discretion.
• The buyer who is successful in purchasing any lot or lots is entirely responsible for paying for such lot or lots in accordance with these conditions.
• The auctioneer reserves the right to bid on behalf of the seller on any lot and to withdraw, consolidate or divide any lot or lots.
• Bidders shall be deemed to act as principles.
• 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.
• The auctioneer has the right not to accept bids (subject to anti-discrimination and other relevant laws).
• Once made, no bid may be withdrawn.
• The absence of any such notice does not imply that a lot is free from defects, nor does it indicate that other defects are not also present. All potential buyers are deemed to have viewed all pieces they intend to bid for and to have fully satisfied themselves as to the condition of the same.
• Viewing times are advertised so that the buyer has the opportunity to examine the lots prior to the sale.
• Condition reports are available on request.
• All lots are sold as seen.
Commission and Telephone 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 or by telephone.
• 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.
• Requests for commission bids and telephone bidding must be registered a minimum of 30 minutes prior to the close of viewing at 10 am on sale day. We will not accept requests after that time.
• Telephone lines are booked on a first come first served basis and a name and telephone number must be provided at the time of the request and in some cases full proof of identity.
• The buyer’s premium is 15% of the hammer price payable on each lot
• Payment is due immediately from the buyer after the auction.
• Payment may be made in cash, debit or credit cards or bank transfer.
Transfer of Risk
• The risk in the lot shall pass to the buyer upon the completion of the sale by the auctioneer. KLM Auctioneers are not responsible for the correct description, genuineness or authenticity of any lot as per these conditions.
• The buyer is deemed to have inspected each lot and satisfied himself as to its condition.
Ownership of the lot
• The ownership of any lots purchased shall not pass to you until you have made payment in full to KLM auctioneers for the total amount due.
Storage and Collection
• Goods can be paid for and collected when the auction finishes, the following Saturday morning 10am – 1pm, the Monday 9am – 2pm or Tuesday after the auction 9am – 12pm.
• All goods must be removed from the sale room by 12 pm on the Tuesday following the auction.
• Storage charges are charged at £1 per day per item commencing at 9am on the Wednesday following the sale.
• After 14 days, if goods remain uncollected, they will become the property of KLM Auctioneers Limited.
• Removal of lots purchased will be at your own risk and expense.
• You are responsible for any removal, storage and insurance charges relating to the lots purchased.
• The buyer will be liable for the repair to the premises or other lots damaged during the removal of their property.
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 and on our own behalf, shall at our absolute discretion and without prejudice to any other right we may have, be entitled to exercise one or more of the following rights and remedies:
• To proceed against you for damages for breach of contract;
• To rescind the sale of that lot and any other lots sold by us to you;
• 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;
• To remove, store and insure the lot at your expense and, in the case of storage, either at or premises or elsewhere;
• 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;
• To retain that or any other lot sold to you until you pay the total amount due;
• To reject or ignore bids from you or your agent at future auctions or to impose conditions before any such bids shall be accepted;
• 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 the debt due is satisfied.
We shall, as agent for the seller and on our own behalf, pursue these rights and remedies only so far as is reasonable to make appropriate recovery in respect of breach of these conditions.