STANDARD CONDITIONS OF SALE
Whilst Greenwich Auctions Partnership Ltd makes every effort to ensure the accuracy of their Catalogue and the description of any lot:
a) Each lot as set out in the catalogue or as divided or combined with any other lot or lots is sold by the vendor with all faults, imperfections and errors of descriptions.
b) Greenwich Auctions Partnership Ltd does not accept responsibility for the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot, unless they have been instructed in writing by the vendors so to certify and in such case the Auctioneers do so as agents of the vendor and are not, themselves, responsible for such claims.
c) All statements, whether printed in the catalogue or made orally, as to any of the matters set out in (b) above, are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by Greenwich Auctions Partnership Ltd, unless they have been instructed in writing by the vendor so to certify, and in such case the Auctioneers do so as agents of the vendor and are not themselves responsible for such claims.
d) The Auctioneer must receive any claim under any Statute in writing within 10 days of the day of the sale.
2. The Auction
2.1 The Auctioneer has absolute discretion to divide any lot, to combine any two or more lots or to withdraw any lot or lots from the auction, to refuse bids, regulate bidding or cancel the auction without, in any case, giving any reason or without previous notice. He may bid on behalf of the vendor for all goods which are being offered subject to reserve, or at the Auctioneers discretion.
2.2 The highest bidder shall be the buyer except in the case of a dispute. If, during the auction, the Auctioneer considers that a dispute has arisen, the Auctioneer has absolute discretion to settle it or to re-offer the lot. The Auctioneer may, at his sole discretion, determine the advance of bidding or refuse a bid.
2.3 All conditions, notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statements modifying or affecting the same made by the Auctioneer from the rostrum prior to any bid being accepted for the lot.
Greenwich Auctions Partnership Ltd disclaim responsibility for default by either the buyer or the vendor because they act as agents for the vendor only and therefore do not pay out to the vendor until payment is received from the buyer. Instructions given by telephone are accepted at the senders risk and must be confirmed in writing forthwith.
4. Private Treaty.
In the event of a sale by private treaty, both the vendor and the buyer agree to be bound by The General and Standard Conditions of Sale.
20. The highest bidder acceptable to the Auctioneer shall be the Buyer. The Auctioneer shall have absolute discretion to settle any dispute and to refuse bids or to advance the bidding as seen fit.
21. Every bidder shall be deemed to act as a principal unless in receipt of written acknowledgement by the Auctioneer that the bidder is acting as agent on behalf of a disclosed principal.
22. The Buyer must complete a registration form prior to bidding and will be given a paddle number. The Auctioneer may refuse a bid or re-offer a Lot if a Buyer has not registered and/or has no current paddle number. Following a successful bid, the Buyer shall pay the Auctioneer, in full the Hammer Price (plus VAT payable in accordance with clause 23 below) together with a premium on the Hammer Price and VAT on the standard rate on the premium within 2 working days of the day of the sale.
23. Where a Lot is marked by a ** VAT is payable on the Hammer Price at the standard rate.
24. The ownership of a Lot shall not pass to the Buyer and the Buyer shall not be entitled to remove any Lot until he has made full payment to the Auctioneer of the total amount due. Payment shall be deemed to have been made only after the Auctioneer has received cleared funds.
25. All Lots must be removed by the Buyers risk and expense within 2 days of the day of the auction. The Buyer will be responsible for all storage charges, which will be charged at the Auctioneer’s current rates per lot per day after 2 days.
26. Should a Buyer breech either of conditions 22 and 24 the Auctioneer, at his absolute discretion and without prejudice to any other rights he may have, may exercise any of the following rights and remedies.
a) Proceed against the Buyer for breech of contract
b) Rescind the sale of all or any Lots sold to the Buyer
c) Re-sell all or any Lots by public auction or private treaty and deficiencies in the purchase price resulting from such sale (after giving credit for any prior payment received from the Buyer) together with full costs incurred in connection with the Lot or Lots, shall be paid to the Auctioneer by the Buyer. Any surplus over the proceeds of the sale shall go to the Seller.
d) Remove, store and insure (on any premises) the Lot or Lots at the expense of the Buyer.
e) Charge interest on the purchase price at 5% over the Base Lending Rate of Lloyds TSB Bank PLC on any amount outstanding from the Buyer more than 7 days after the date of the sale.
f) Retain the Lot or any other Lot sold to the Buyer at the same or any other auction and release the same only after payment of the full purchase price.
g) Reject any bids made by or on behalf of the Buyer at any future auction or obtain part payment before accepting any future bids, or
h) Apply any proceeds of sale then due or at any time thereafter becoming due to the Buyer, towards settlement of the total amount due and exercise a lien on any property of the Buyer which is in the Auctioneers possession for any purpose.
27 Any items are of an age or nature which precludes their being in perfect condition.
The catalogue description is for guidance only and does not imply an item is free from defects, nor does a reference to specific defects imply the absence of others.
27.1 Prospective buyers are strongly advised to examine personally, any goods in which they are interested before the auction takes place. The Auctioneer can provide condition reports on request, but provide no guarantee to reports given other than in relation of forgeries as referred to in clause 27.
27.2 Any Lot which is claimed by the Buyer to be a forgery may be returned to the Auctioneer in the same condition in which it was sold, within 10 days of the sale. The Auctioneer must be allowed 10 days from the date of return to carry out his own investigation as the to the validity of the claim. If the Auctioneer is satisfied that the claim is justified and that the Buyer is able to transfer a good and marketable title to the Lot free from any third party claims, the Auctioneer will rescind the sale and refund any amount paid by the Buyer to the Auctioneer.
27.3 Any claim by the Buyer under this condition shall be limited to the amount paid by the Buyer to the Auctioneer for the Lot’
28 The Auctioneer will, on the Buyers written instructions, execute bids on their behalf, but neither the Auctioneer nor his employees nor agents shall be liable for any neglect in doing or failing to do so.
29 These conditions shall be governed by and construed in accordance with English law.
These Terms & Conditions of Business supersede all previous Terms of Business