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Sloane Street Auction Galleries
69 Lower Sloane Street
London
SW1W 8DA
United Kingdom
Telephone(s):
0207 259 0304

Email:
info@sloanestreetauctions.com

Website:
www.sloanestreetauctions.com

Sloane Street Auctions brings together expertise, discretion, and the personal touch in order to provide an exceptional service for our buyers and sellers.

1. INTRODUCTION.
The following notes are intended to assist Bidders and Buyers, particularly those inexperienced or new to salerooms. All of our auctions and sales are conducted on our printed Auction Terms and Conditions, including these Conditions of Sale and Business, 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. Any particular auction and/or any particular lot in an auction may be subject to different or additional terms which will be published in our auction catalogue. All auctions and sales of jewellery, watches and clocks are subject to the special terms set out in the relevant Notices in relation to those items published in our auction catalogue and, in the event of any conflict or inconsistency, those special terms prevail over any other terms in our Auction Terms and Conditions. By bidding at the auction, you agree to be bound by these terms.

2. AGENCY. As auctioneers we usually act as agents for the seller whose identity, for reasons of confidentiality, is not normally disclosed. Accordingly, if you buy at auction your contract for the item or items purchased is with the seller and not with us as the auctioneer.

3. ESTIMATES. Estimates are designed to help buyers gauge what sort of sum might be involved for the purchase of a particular lot. Estimates may change and should not be thought of as the sale price. The lower estimate may represent the reserve price. Estimates do not include the Buyer’s Premium or VAT (where chargeable) or other associated taxes. Estimates are prepared some time before the sale and may be altered by announcement before the sale. They are in no sense definitive. The auctioneer may make a “saleroom announcement” either before or during the auction which may alter descriptions, estimates or material facts.

4. BUYER'S PREMIUM. The Conditions of Sale forming part of our Auction Terms and Conditions require the buyer to pay a buyer’s premium on the hammer price of each lot purchased. The buyer’s premium is 25% of the hammer price up to and including £450,000, 20% of the hammer price from £450,001 up to and including £4,000,000, and 15% of the hammer price in excess of £4,000,000. VAT at the prevailing rate of 20% is added to buyer’s premium and additional charges as defined below.

5. VAT. A theta symbol (?) indicates that the lot is a zero rated item and therefore not subject to VAT on the buyer’s premium. This applies to bound books (manuscripts and printed), unframed maps and albums. A dagger symbol (†) indicates that VAT is payable by the purchaser at the standard rate (presently 20%) on the hammer price as well as being and element in the buyers’ 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 20% on import into the UK. A double dagger (?) indicates that the lot has been imported from outside the UK and the present position is that these lots are liable to a reduced rate of Import VAT currently 5% on the hammer price. (?) indicates that the lot has been imported from outside the UK and these lots are liable to the standard rate of Import VAT currently 20% on the hammer price. Lots which appear without 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 buyers’ premium is not recoverable as input tax.

6. DESCRIPTION AND CONDITION. Condition reports are provided on our website or upon request. The absence of a report does not imply that a lot is without imperfections. The detail in a report will reflect the estimated value of the lot. Large numbers of such requests received shortly before the sale may mean that reports cannot be provided for all lots. Members of staff are not trained restorers or conservators and, particularly for higher value lots, you should obtain an opinion from an independent professional as our condition report are solely an opinion and not a relection of fact. Sloane Street Auctions is not liable for damage to gilded picture frames, plaster picture frames or picture frame glass; if a Lot is or becomes dangerous, we may dispose of it without notice to bidders in advance in any manner we see fit and will be under no liability for doing so. We recommend that you always view a lot in person. We are dependent on information provided by the seller about a lot and whilst we may inspect lots and act reasonably in taking a general view about them we are normally unable to carry out a detailed examination and frequently no examination of lots in order to ascertain their condition in the way in which it would be wise for a buyer to do. Intending buyers have ample opportunity for inspection of goods and, therefore, accept responsibility for inspecting and investigating lots in which they may be interested and the corresponding risk should they not do so. 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. However, in so far as we have examined the goods and make a representation about their condition in the auction catalogue, we shall be liable for any defect which is not reflected in that representation and which that examination ought to have revealed to the auctioneer but which would not have been revealed to the buyer had the buyer examined the goods. 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. 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. Following the UK’s exit from the European Union, private overseas buyers can only receive goods free of VAT/have the VAT amount refunded if Sloane Street Auctions acts as exporter in relation to the sale and arranges for the transport of the goods. If you would like us to arrange for the export and delivery of the goods there will be an admin fee of £100 plus the shipping cost. If you arrange for the goods to be picked up/delivered to you directly we will charge UK VAT at the appropriate rate and no refund will be available. Please note that if we export the goods to you, you will be responsible for completing the importation procedures as well the payment of any relevant duty/VAT payable on importation into your country.

8. BIDDING.
Bidders will be required to register before the sale commences and lots will be invoiced to the name and address on the sale registration form. Bidders are required to provide a government issued identity document and a proof of address. Please enquire in advance about our arrangements for telephone bidding. For certain highvalued goods where a bidder is unknown to us a deposit may be required.

9. COMMISSION BIDDING.
Commission bids may be left with the auctioneers indicating the maximum amount to be bid excluding buyers’ premium. Sloane Street Auctions will add these bids to the auctioneers’ sale book and 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. Sloane Street Auctions does not accept liability for failing to execute commission bids, or for any errors or omissions.

10. METHODS OF PAYMENT.
Payment will be accepted, if you are a successful bidder, by debit card issued in the name of the Buyer by a UK bank and registered to a UK billing address; by all major UK issued credit cards issued in the name of the Buyer and registered to a UK billing address with the exception of American Express and Diners Club; by bank transfer direct into our bank account, Bank Details: Lloyd’s Bank, 98 Victoria Street, London, United Kingdom, SW1E 5JL. Account Name: Sloane Street Auction Galleries Lmited. A/C: 54140362, Sort Code: 30-98-97, BIC: LOYDGB21031, IBAN: GB52 LOYD 3098 9754 1403 62. The name of the bank account holder should match the name of the buyer. First time buyers who are not present at the saleroom are requested to pay by bank transfer.

11. 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 storage charges.

12. DROIT DE SUITE ROYALTY CHARGES.
From 1st January 2012 all UK art market professionals (which includes but is not limited to; auctioneers, dealers, galleries, agents and other intermediaries) are required to collect a royalty payment for all works of art that have been produced by qualifying artists each time a work is re-sold during the artist’s lifetime and for a period up to 70 years following the artists death. This payment is only calculated on qualifying works of art which are sold for a hammer price more than the UK sterling equivalent of EURO 1,000 – the UK sterling equivalent will fluctuate in line with prevailing exchange rates. It is entirely the responsibility of the buyer to acquaint himself with the precise EURO to UK Sterling exchange rate on the day of the sale in this regard, and the auctioneer accepts no responsibility whatsoever if the qualifying rate is different to the rate indicated. All items in this catalogue that are marked with ? are potentially qualifying items, and the royalty charge will be applied if the hammer price achieved is more than the UK sterling equivalent of EURO 1,000. The royalty charge will be added to all relevant buyers’ invoices, and must be paid before items can be cleared. All royalty charges are passed on to the Design and Artists Copyright Society (‘DACS’), no handling costs or additional fees with respect to these charges will be retained by the auctioneers. The royalty charge that will be applied to qualifying items which achieve a hammer price of more than the UK sterling equivalent of EURO 1,000, but less than the UK sterling equivalent of EURO 50,000 is 4%. For qualifying items that sell for more than the UK sterling equivalent of EURO 50,000 a sliding scale of royalty charges will apply – for a complete list of the royalty charges and threshold levels, please see www.dacs.org.uk. There is no VAT payable on this royalty charge.
All Invoices must be paid in full before Items can be collected by your designated shipper.

We are happy to provide a selection of recommended shippers, but cannot accept responsibility for their service.

Returns Policy Items can ONLY be returned at the Auctioneers discretion and are done so at the cost of the buyer