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TERMS AND CONDITIONS OF BUSINES
Third Party Liability. Every person on Greenwich Auctions Partnership Ltd premises at any time shall be deemed to be there at his or her own risk. He or she shall have no claim against Greenwich Auctions Partnership Ltd in respect of any accident which may occur, or injury, damage or loss howsoever caused, save insofar as the injury, damage or loss shall be caused by the direct negligence of Greenwich Auctions Partnership Ltd employees.
STANDARD CONDITIONS OF SALE
1. GENERAL
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
a) 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.
b) 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.
c) 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.
3. DEFAULT
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.
5. PAYMENT FOR SOLD LOTS
Payment for lots sold will be made when all lots delivered at the same time have been sold, Greenwich Auctions Partnership Ltd will not make individual payments for a combination of lots entered.
THE SELLER
1. In these conditions, the following words shall have the following meanings:
"The Auctioneer" means Greenwich Auctions Partnership Ltd
"Hammer Price" means the price at which the lot is sold to the buyer
"Buyer" means the highest bidder for any lot acceptable to the Auctioneer
"Seller" means the person on whose behalf goods are offered for sale by the Auctioneer
"Lot" means goods delivered to the Auction by the Seller for sale by auction
2. The Auctioneer sells as agent for the Seller and as such is not responsible for any default of the Seller or Buyer.
3. All goods delivered to the Auctioneer's premises will be deemed to be delivered for sale by auction unless otherwise stated in writing, they will be catalogued and sold at the
Auctioneer's discretion and are accepted by the Auctioneer subject to those conditions.
By delivering goods to the Auctioneer for inclusion in auction, the Seller acknowledges,
accepts and agrees to all these conditions and grants the Auctioneer full authority to
photograph and illustrate any Lot and use such photographs at any time at his discretion.
4. The Seller warrants the Auctioneer and the Buyer that he is the true owner of the Lot
or is properly authorised to sell the Lot by the owner and is able to transfer good title
thereto, free of any third party claims.
5. The Seller shall indemnify the Auctioneer, its servants and agents and the buyer against all claims made or proceedings brought by persons entitled to the Lot and shall reimburse the Auctioneer on demand for all payments, costs or expenses or any other loss or damage whatsoever made, incurred or suffered as a result of any breach by the Seller of these conditions.
6.
(a) The Seller may place a reserve on any Lot by agreement in writing with the Auctioneer. The Auctioneer shall have the sole right to bid on behalf of the Seller up to the amount of the reserve. The Seller shall not bid on any Lot on which a reserve has been placed. The Auctioneer holds himself responsible only for reserves or other sale instructions received in writing from the Seller.
(b) Where any Lot fails to sell, the Auctioneer retains the right to re-offer the Lot at a
reduced estimate and reserve (if any) and sell at the Auctioneers discretion unless
written instructions are received to the contrary.
(c) If the Seller does not wish to re-enter the Lot, or the Auctioneer advises the Seller that
it does not wish to re-enter a Lot on their behalf, the Seller shall collect the Lot within 3
working days of the last auction, failing which, they shall be responsible for storage charges at £5 per lot per day, in addition to any other charges to which they are liable.
(d) If the Lot remains uncollected 1 month after the day of sale, the Auctioneer shall have
the right to sell the Lot at auction without reserve and to deduct from the Hammer Price any sum owing to the Auctioneer, including expenses arising from all sales in which the Lot has been included and storage and insurance charges.
7. The Auctioneer shall remit the proceeds of the Seller within 28 days after the day of the last auction at which all the lots were sold, provided that the Auctioneer has received the total sum due from the Buyer. The Auctioneer shall not be deemed to have received the total sum due until any cheque delivered by the Buyer has been received and cleared. If the Auctioneer exercises its right to rescind the sale under clauses 9 and 19 hereof, it shall not have any obligation to the Seller hereunder.
8. If the Seller withdraws instructions to the Auctioneer to sell any Lot, the Auctioneer
may charge the Seller such amount as the Auctioneer deems necessary to compensate
the Auctioneer for all expenses incurred in respect of the Lot, together with a cancellation
charge which shall not be less than 15% of the Auctioneers mid estimate of the auction
price of the Lot withdrawn, together with VAT thereon.
9. If, before the net proceeds of the sale have been paid to the Seller, the Auctioneer
receives notice from the Buyer that, in its view, the Lot is a forgery (and is not as described in the catalogue) and the Auctioneer agrees with the view, the Auctioneer will rescind the sale and refund the Buyer any amount paid to the Auctioneer in respect of that Lot.
10.(a) Unless otherwise instructed in writing, any Lot on the Auctioneer's premises and
in its custody will be insured at the Auctioneer’s current mid-estimate of its value against the risk of fire, burglary, water damage and accidental breakage or damage for which insurance the Seller shall pay a premium of 2% of the mid-estimate value (which premium is inclusive within the Sellers commission charge) . Should an item be subject to a claim following its sale by auction, the settlement figure will be the price achieved less charges and, should the item be subject to a claim following an auction where it has been unsold, the highest bid, if any, shall be the settlement figure.
(b) The Auctioneer, its servants or agents shall not be responsible for loss or damage of any kind to Lots, whether caused by negligence or otherwise, unless such a Lot is covered by insurance effected by the Auctioneer in accordance with clause 10(a) above.
(c) Any liability of the Auctioneer, its servants or agents for any claim for loss or
damage whatsoever and howsoever arising in respect of the Lots whether caused by
negligence or otherwise, shall be limited to the amount of insurance cover affected in
accordance with clause 10 (a) above.
11. A commission of 15% or £45 (whichever is the greater) + VAT is payable by the Seller on the Hammer Price of Lots sold, unless a special rate has been agreed between the Seller and the Auctioneer. The minimum charge per unsold lot is £5, with the exception of furniture and items over £200, which is charged at £10 per unsold lot.
12. Commission is subject to VAT at the standard rate. The Seller acknowledges
the Auctioneer's right to retain the premium payable by the Buyer under clause 15
THE BUYER
13. 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.
14. 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.
15. 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 16 below) together with a premium of 16% (Inc VAT) of the Hammer Price within 2 working days of the day of the sale.
16. Where a Lot is marked by a **VAT is payable on the Hammer Price at the standard rate.
17. 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.
18. All Lots must be removed by the Buyers risk and expense within 2 days of
the day of the auction. The purchaser will be responsible for all storage charges, which will be charged at the Auctioneer's current fees and charges rates.
19. Should a Buyer breech either of conditions 15 and 18 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 wit 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.
20(a) Many 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.
(b) 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 20(c)
(c) 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. 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.
d) Any claim by the Buyer under this condition shall be limited to the amount paid by the
Buyer to the Auctioneer for the Lot.
21. 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.
22. These conditions shall be governed by and construed in accordance with English law.
23. The Auctioneer reserves the right to request a deposit of 50% of the total due
from the Buyers successful bidding. This request may be made at any time during the
auction. Should the Auctioneers request not be complied with, those Lots designated
to the Buyer will be re-offered for sale.
24. Deliveries and Collections can be arranged through the Auctioneer. There is a
charge for this service, which is subject to VAT. Charges will depend on distance and
number of Lots.
These Terms & Conditions of Business supersede all previous Terms of Business
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