Lot 5000 WHITE METAL SOLITAIRE RING (STAMPED 585 14CT GOLD) WITH SQUARE EMERALD & DIAMOND SET SHOULDERS (VALUE FOR INSURANCE PURPOSES £595)

CONDITIONS OF SALE

STANDARD CONDITIONS FOR SALE OF GOODS BY AUCTION

 

1.  DEFINITIONS

 

“Auctioneers”    Means Auctus Limited trading as ‘Charles Taylor’ (Company Number 03341922) whose registered office is 26 Missouri Avenue, Salford, M50 3NP;

 

“Buyer”             Means the person who makes the highest bid accepted by the Auctioneers, or that person’s disclosed principal;

 

"Buyers”            Means the commission payable on the “Hammer Price” payable to Charles Taylor by a Premium" Buyer at the rates posted in the auction room at the time of the relevant sale plus VAT at the appropriate rate on such commission;

 

“Expenses”         Means in relation to the sale of any lot, the Auctioneers charges and expenses, including but not limited to legal expenses, charges for insurance, catalogue and other reproductions, customs duties, packing or shipping costs, taxes, costs of testing, searches or enquiries relating to any lot or costs of collection from a defaulting Buyer plus an amount in lieu of VAT if applicable on any expense incurred.

 

“Hammer            Means the price at which a lot is knocked down by the Auctioneer to the Buyer or, in the Price" case of a post auction sale, the agreed price; in both instances excluding the Buyers Premium and any applicable taxes and Expenses;

 

“Net Sale           Means the Hammer Price to the extent received by the Auctioneers in cleared funds less Proceeds" the Vendors Commission & Expenses

 

“Total Price”      Means the Hammer Price and Buyers Premium + VAT where applicable.

 

“Vendor”           Means the person(s), firm or corporation from or through whom instructions for sale of the lot have been received by the Auctioneers;

 

“Vendor’s          Means the commission payable by the Vendor to the Auctioneers at the rates applicable Commission" at the date of sale of the lot or as otherwise agreed in writing by the Auctioneers and the Vendor.

 

“Buyers             This is a service charge and is therefore subject to VAT.

Premium”

 

2.  CAPACITY OF AUCTIONEERS

 

2.1        The Auctioneers sell as agents only for the Vendor (except where they are stated wholly or partly to own any lot as principal) and as such are not responsible for any default by the vendor or the Buyer

 

3.  BUYER’S OBLIGATIONS TO INSPECT

 

3.1        All goods are sold with all faults and imperfections and errors of description.  Illustrations in catalogues and presentations are for general identification only. Buyers should satisfy themselves prior to the auction as to the condition of each lot. 

 

3.2       Any statement by the Auctioneers as to the lot is a statement of opinion only and every person should rely on his own judgment as to all matters affecting the lot.

 

3.3         It is incumbent on any potential purchaser to consider the UK compliance on any product

 

3.4        MILEAGE DISCLAIMER.

            The mileage indicated on the vehicle cannot be relied upon as a true indication of the distance travelled and should therefore be disregarded.

 

           

 

                        4.  EXCLUSION OF LIABILITY

 

4.1        Neither the Vendor of any lot nor the Auctioneers, their servants or agents is responsible for errors of description or for the authenticity of any lot for any misstatement as to any matter affecting the lot.  Neither the Vendor of any lot nor the Auctioneers, their servants or agents makes or gives, nor has any person in the employment of the Auctioneers has any authority to make or give, any representation or warranty in relation to any lot and any implied conditions or warranties are excluded.

 

4.2        For the avoidance of doubt, no motor vehicle is warranted or held out to be road worthy and no lot is warranted or held out to be of satisfactory quality, fir for its purpose, safe for use or complying with any statutory requirements for use, display or movement.

 

4.3        The Buyer acknowledges that a sale by auction is not a consumer sale for the purposes of the Sale of Goods Act 1979 (as amended by the Sale and Supply of Goods Act 1994) and the Unfair Contract Terms Act 1977 and the Buyer shall not seek to reply upon and conditions or warranties implied thereby or by any other legislation

 

4.4        Every person on the Auctioneers’ premises before during or after the sale shall be deemed to be there at his own risk and with notice of the condition of the premises and their contents.  Such persons shall have no claim against the Auctioneers in respect of any injury sustained or any accident which may occur from any cause whatsoever.

 

5. LIMITATION ON CLAIMS

 

5.1        Without Prejudice to the provisions of clause 4 above, and save insofar as it relates to any liability which the Auctioneers may have for personal injury or death, any claim against the Auctioneers by the Buyer shall be limited to the Hammer Price and the Buyers Premium actually paid by the Buyer to the Auctioneers with regard to that lot.

 

6.  AT THE SALE - CONDUCT

 

6.1.1      The Auctioneers reserve the right to fix a reserve for any lot.

 

6.1.2      The Auctioneers may without giving any reason refuse to accept the bidding of any person and to refuse admission to its premises to any person.

 

6.1.3      In the case of a dispute as to any bid, Auctioneers may immediately determine the dispute or put up the lot again at the last undisputed bid or withdraw the lot

 

6.1.4      No person may advance less at a bid than a sum to be named from time to time by the Auctioneers.

 

6.1.5      The Vendor may bid for any lot either personally or through the Auctioneers or through any other person as many times as they respectively may think fit and may withdraw any lot.

 

6.1.6      The Auctioneers accept no responsibility in connection with the commissioning of their staff to bid for any lots.  Reserves and commissions given by telephone are accepted at sender’s risk and must be confirmed in writing before the date of sale and the cheque must be cleared in advance of bidding taking place.

 

6.1.7      Where any lot or lots have been sold by count, weight or measurement, no allowance can in any case be made nor shall the Auctioneers or vendor be answerable for any deficiency in quantities, weights or measures, unless claimed for before the Buyer, his agent, carrier or man employed by him, has removed his lot or lots from the premises.

 

6.2  BIDDING AS PRINCIPAL

 

6.2.1      Any person bidding at the auction does so as principal and will be held personally and solely liable for that bid unless the Auctioneers have previously agreed in writing with the bidder that he may do so on behalf of an identified third party who is acceptable to the Auctioneers.

 

6.2.2      In circumstances where the Auctioneers have so agreed, both the bidder and third party will be jointly and severally liable for all obligations arising from the bid and the third party shall be bound by these conditions in the same way as if he were bidding personally.

 

            6.3  ALLOCATION OF BIDDING NUMBER AND PAYMENT OF DEPOSIT

 

6.3.1      Any person wishing to bid at the Auction Centre must register with the Auctioneers in advance and must provide his name and address along with such means of identification as may be required by the Auctioneers.

 

6.3.2      The Auctioneers will require payment of a minimum sum of £200.00 (TWO HUNDRED POUNDS CASH) by way of deposit before a bidding number will be allocated to any person wishing to register.

 

6.3.3      The Auctioneers reserve the right to request a deposit from Bidders registered via i bidder or Bidspotter if the Auctioneer has no previous knowledge of that Bidder. A deposit, in such an amount as is considered necessary by the Auctioneer, will be notified to the Bidder at any time during the Auction. Only when the deposit has been paid will the Bidder be allowed to resume participation in that particular Auction.

 

6.3.4       Any deposit paid is deemed as non refundable until a Buyers invoice has been settled in full. If a bidder does not win any items, the deposit will be refunded in full at the end of the auction.

 

6.4  SALE OF A LOT

 

6.4.1      By definition within these terms the Buyer is the person who makes the highest bid accepted by the Auctioneers (or that person's disclosed principal, if applicable).

 

6.4.2      The striking of the Auctioneers' hammer marks the acceptance of the highest bid and identifies the Hammer Price at which the lot is knocked down by the Auctioneers to the Buyer.

 

6.4.3      The striking of the Auctioneers' hammer also marks the conclusion of a contract of sale between the Vendor and the Buyer.

 

6.5   AUCTIONEERS' DISCRETION

 

Notwithstanding the provisions of this clause 6, the Auctioneers have the absolute discretion at any time during the course of the auction to:

 

6.5.1      Withdraw any lot;

 

6.5.2      Re-offer a lot for sale if the Auctioneers reasonably believe there is an error or dispute;

 

6.5.3      Take such other action as the Auctioneers reasonably think fit in the circumstances

 

7.  TERMS OF PAYMENT

 

7.1        After the relevant auction has concluded and all lots have been sold, the Buyers invoice is issued and becomes payable immediately to the Auctioneers, in pounds sterling, the Total Price.  Payment will not be deemed to have been made until the Auctioneers are in receipt of cleared funds.

7.2       All lots must be paid for in full on or before Monday following the auction date. If payment is not received before 5pm, then all lots will be removed from the Buyers invoice and fees may become applicable in accordance with Clause 8. Any deposits paid will be non-refundable.

 

8.  REMEDIES FOR NON-PAYMENT

 

If the Total Price is not paid on any lot in accordance with Clause 7, the Auctioneers shall have the discretion, and without prejudice to any other rights which the Auctioneers and the Vendor may have, be entitled, both on the Auctioneers own behalf and as agent for the Vendor, to exercise any one or more of the following rights or remedies:

 

8.1        Commence proceedings against the Buyer for damages for breach of contract;

 

8.2        Cancel the sale of the lot;

 

8.3        Apply any payments/deposit made by the Buyer to the Auctioneers as part of the Total Price or otherwise towards any costs or Expenses incurred in connection with the sale and/or resale of the lot;

 

8.4        Apply any payments/deposit made by the Buyer to the Auctioneers as part of the Total Price or otherwise towards any debts owed by the Buyer to the Auctioneers in respect of any other transaction;

 

8.5        Arrange and carry out a resale of the lot by public auction or private sale in mitigation of the debt owed by the Buyer to the Auctioneers.  The Net Sale Proceeds shall be applied in reduction of the Buyer's debt. If a resale results in a lower price than the original Hammer Price, then both the Auctioneers and the Vendor shall be entitled to claim the balance from the Buyer together with any costs and Expenses incurred in connection with the resale.  If the resale results in a higher price than the original Hammer Price then the surplus shall be paid to the Vendor.  In such case the Buyer waives any claim it may have to title to the lot and agrees that any resale price shall be deemed commercially reasonable;

 

8.6        Exercise a lien over any of the Buyer's property which is in the possession of the Auctioneers for any reason until payment of all outstanding amounts due to the Auctioneers by the Buyer have been paid in full.  If the amount outstanding then remains unpaid for 14 days following notice being given to the Buyer by the Auctioneer of the exercise of the Lien, then the Auctioneers shall be entitled to sell such property in accordance with Clause 8.5 above;

 

8.7        Charge the Buyer the reasonable legal and administrative costs of the Auctioneers and the vendor;

 

8.8        Charge the Buyer interest at a rate of 5% per annum above the base rate of Barclays Bank Plc from time to time due on the Total Price or any outstanding balance thereof to the extent that it remains unpaid for more than 3 working days after the date of the auction;

 

8.9        Insure, remove and store the lot wither at the Auctioneers' premises or elsewhere at the sole risk and expense of the Buyer

 

9.   RISK AND TITLE

 

9.1        Each lot shall be at the Buyer's risk from the fall of the hammer but must be paid for in full before property in the goods passes to the Buyer.

 

9.2        No warranty is given by the Auctioneers that the Vendor owns or is entitled to pass good title to any lot.

 

10.  COLLECTION

 

10.1       The Buyer shall not remove any lot at the time of sale until such time as payment of the Total Price has been made in full in accordance with Clause 7 above.

 

10.2       Each Buyer shall remove their purchase as set out in the collection dates stated on each auction. Collections are by appointment only. Please refer to the individual auction for collection dates and times.

 

10.3       The Buyer is liable for a storage charge of minimum £2.50 + VAT per pallet per day and £20.00 + VAT for a vehicle, whether or not the lot has been paid for starting from the next day following the Tuesday after the auction and continuing until the lot is removed or resold.

 

11.  PURCHASE OF MOTOR VEHICLES

 

11.1       MILEAGE DISCLAIMER.

            The mileage indicated on the vehicle cannot be relied upon as a true indication of the distance travelled and should therefore be disregarded.

 

11.2       The Buyer of any motor vehicle is responsible for complying with all legal requirements as to the construction and use of that vehicle and for obtaining all certificates, permits or other authorizations necessary before that vehicle can be used on any road.

 

12.  HEALTH AND SAFETY AT WORK ETC ACT 1974

 

It is expressly brought to the Buyer's attention that;

 

12.1       At the time of sale any items of plant, machinery or equipment contained in the lot(s) may not necessarily comply with the Health and Safety at Work etc Act 1974 or any other Act or Acts or Regulations there under governing the use of that plant, machinery or equipment in a working environment.  A Buyer of any such plant, machinery or equipment is hereunder required to ensure that the use of the same at a place of work within the United Kingdom does not contravene such relevant Act or Regulation thereunder applicable thereto.

 

12.2       Certain types of plant, or main service installations could contain blue and white asbestos, dangerous chemicals etc, which if not handled correctly during their removal from the site could be in breach of the Health and Safety at Work etc Act 1974, or any other current legislation covering the use of such substances in a working environment.

 

13. SALE ON BY BUYER

 

In the event that the Buyer sells on the lot or part thereof to a third party before payment of the Total price is made in full o the Auctioneers (per clause 7) the Buyer agrees to hold on trust for the Auctioneers the proceeds of that sale in a separate bank account to the extent of all amounts outstanding and due to the Auctioneers by the Buyer in respect of any lot.

 

14.  SEVERABILITY

 

In the event that any provisions of these conditions should be held unenforceable for any reason, the remaining conditions shall remain in full force and effect.

 

15.  JURISDICTION

 

These conditions shall be governed by and construed in accordance with English law.  All transactions to which these conditions apply and all connected matters shall also be governed by English Law

 

16. HIGH VALUE PURCHASES

 

16.1       The Auctioneers reserve the right to request whatever original identification is deemed appropriate, to supplement information provided at the point of registration.

 

16.2       Cash transactions, will not be ordinarily accepted in excess of £10,000.00. Cash transactions in excess of £10,000.00 will only be accepted at our discretion, must be auditable, comply with our policy in respect of ‘High Value Purchases’ and be in full compliance with the Money Laundering Regulations 2007 (details available on request).

           

 

16.3       For the avoidance of doubt, the ‘Auctioneers’ reserve the right to refuse to deal with any customer who does not provide information requested in support of our ‘High Value Purchases’ policy.

 

            E & OE

 

17. CONTRACTS

All accepted bids are contracts and are considered final and non withdrawable.

18. BUYER'S PREMIUM

A buyer's premium of 19% will be applied to all purchases.

19. ONLINE BIDDING

The person posting the bids online has to be the person who has registered for the auction.