GREENWICH AUCTIONS

Auctioneers and Valuers of fine arts,

 

Telephone 020 8853 2121

antiques, collectables and object d'art

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

 

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.

 

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. Payments for lots sold.   Payment for lots sold will be made when all lots from one consignment have been sold, returned or disposed of Greenwich Auctions Partnership Ltd will not make individual payments for a combination of lots entered.

 

THE SELLER

 

6.  In these conditions, the following words shall have the following meanings:

“The Auctioneer” means Greenwich Auctions Partnership Ltd

“Hammer Price” the price at which the lot is sold to the buyer

“Buyer” the highest bidder for any lot acceptable to the Auctioneer

"Seller" the person on whose behalf goods are offered for sale by the Auctioneer

“Lot” goods delivered to the Auction by the Seller for sale by auction

 

7.  The Auctioneer sells as agent for the Seller and as such is not responsible for any default of the Seller or Buyer.

 

8.  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.

 

9.  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.

 

10.  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.

 

11 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.

 

11.1 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.

 

11.2 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 the relevant rate per lot per day, in addition to any other charges to which they are liable.

 

11.3 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 together with any storage changes and loss and warranty damage fees.

 

12.  The Auctioneer shall remit the proceeds of the sales to the seller approximately 28 days after the day of the last transaction on the sellers account, 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 funds delivered by the Buyer has been received and cleared.  If the Auctioneer exercises its right to rescind the sale under clauses 13 and 24 hereof, it shall not have any obligation to the Seller hereunder.

 

13.  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.

 

14. Responsibility for the Lot

 

14.1 Unless otherwise agreed in writing the Auctioneer accepts responsibility to the seller, on the basis set out in paragraph 14.2 for any damage to or loss or destruction to the lot whilst the lot is in the Auctioneer’s custody (whether or not caused by our negligence but excluding damage, loss or destruction that is caused directly or indirectly by Terrorism) (the “Loss and Damage Warranty”) and the seller agrees to pay the Auctioneer the Loss and Damage Warranty fee as described in the Auctioneer’s current fees and charges.

 

14.2 Without prejudice to the seller’s statutory rights the sole obligation of the Auctioneer to the seller under the Loss and Damage Warranty will be to pay for any such damage, loss or destruction as referred to in paragraph 14.1 up to an aggregate amount equal to:

 

a) until the Lot is sold, a sum equal to the Notional Price less commission and VAT which would have been payable if the Lot had been sold at the Notional price or

b) after the lot has been sold but before title in the Lot has passed to the Buyer, the amount of the Hammer Price less commission and VAT.

 

14.3 The Auctioneer’s responsibility to the seller under the Loss and Damage Warranty will only continue until:

 

a) if the lot is sold, the earlier of the collection of the Lot by or on behalf of the Buyer and the date that the Lot is taken into custody by the Storage contractor or

b) if the lot is unsold, the earlier of the expiry of any notice given to dispose of or collection by or on behalf of the seller and the date that the Lot is taken into custody by the Storage contractor.

 

15.  If the Lot is sold by the Auctioneer, on such sale the Seller will pay commission calculated in accordance with the Auctioneer’s current fees and charges.

 

16. If the Lot is unsold the Seller will pay the relevant charge as agreed with the Auctioneer at the time of consignment of the lot.

 

17.  If the Seller withdraws instructions to the Auctioneer to sell any Lot or instructs the Auctioneer to dispose of 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 in accordance with the Auctioneer’s current fees and charges together with VAT thereon.  

 

18. Commission and all other Auctioneer’s charges are subject to VAT at the standard rate

 

19. The seller acknowledges the Auctioneer’s right to retain the premium payable by the buyer under

Terms and Conditions - Sellers

Greenwich Auctions Partnership Ltd

47 Old Woolwich Road

Greenwich

London

SE10 9PP