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Sellers Terms & ConditionsTERMS AND CONDITIONS OF SALE APPLICABLE TO VENDORS No goods will be accepted for sale other than under these Terms and Conditions of Sale
Standard Selling Commission is 21% (including VAT) of realisation. The fee for withdrawing a lot prior to the sale is 6% of the reserve. The minimum charge whether sold, not sold or withdrawn is £4.80 per lot. The sale of items will be under the Auctioneer’s VAT Margin Scheme and non-refundable VAT is included in the fees, and no input tax may be claimed by the purchaser or buyer. Under this scheme goods that are zero rated (i.e. books or programmes) will accrue commission at 17.5%. Other charges are also exempt from inclusive VAT. Vendors from outside the EU are exempt from VAT on all charges.
The Auctioneer will hold all goods on his premises and in his custody covered against the risk of fire, burglary and water damage (but not against accidental breakage or damage). The value of the goods so covered shall be that which the Auctioneer shall in his absolute discretion estimate to be the auction value of such goods and the Auctioneer shall not be responsible for damages to or the loss, theft or destruction of any goods not so insured. The charge for this service is included in the commission.
All goods delivered to the Auctioneer’s premises will be deemed to be delivered for sale by auction and will be catalogued and sold accordingly. Reserves given by telephone are accepted at the sender’s risk and must be confirmed in writing to arrive prior to the Sale, otherwise the Auctioneer will not be responsible for the application of reserves. In the absence of written instructions to the contrary all goods will be offered to sale without reserve at the Auctioneer’s discretion. In the absence of any written instructions to the contrary the Auctioneers will sell such goods at a minimum of two thirds of the bottom estimate placed upon such goods by the Auctioneers. In the event that a vendor wishes to change a reserve price prior to a sale they shall inform the Auctioneers in writing not less than 48 hours prior to such sale. In the event that the vendor fails to do so then the Auctioneers shall be entitled to withdraw the relevant lot or lots from the sale.
Items illustrated in the catalogue will be charged on an ascending scale from £12 plus VAT dependent on size of illustration. Illustrations are placed in the catalogue at the Auctioneer’s discretion. Charges incurred by the Auctioneers in obtaining translations of Autograph Letters and Historical Documents from a foreign language into English for the purpose of cataloguing and appraising them will be passed on to the vendor and deducted from the proceeds of the sale. The average charge for translating a letter is £30 to £40 plus VAT. Any such translation charges, as well as others that may be incurred from additional research and cataloguing for an autograph, will be discussed with the vendor prior to the sale.
Payment to the vendor is normally made 28 days after the sale. However, the Auctioneer acts throughout as an agent only and is not responsible for any default by the buyer. He disclaims liability for paying the vendor until he has received settlement from the purchaser.
A vendor who sends for sale by auction any chattel which is an asset to his business must disclose to the Auctioneer whether or not he is a registered person for VAT purposes and, if so, his registered number and whether he intends to operate the special scheme covering Works of Art, etc. This information must be supplied to the Auctioneers on or prior to delivery of the items(s). The Sale catalogue should be retained.
Every person on the Auctioneer’s premises at any time shall be deemed to be there at his own risk with notice of the condition of the premises and of the method of arranging the furniture, etc. He shall have no claim against the Auctioneer in respect of any injury he may sustain or any accident which may occur save in respect of death or personal injury caused by negligence of the Auctioneers.
The vendor warrants to the Auctioneers that he is the true owner of the goods accepted for sale pursuant to these terms and conditions and is able to transfer good and marketable title to such goods free from any third party claims, liens or encumbrances. The vendor agrees to indemnify the Auctioneers, its servants and agents against any loss or damage suffered by them as a consequence of any breach, or alleged breach of the warranty contained in this clause 8.
Vendors should note that the Misrepresentation Act 1967 may in certain circumstances render a vendor liable to a Purchaser in respect of disputed catalogue descriptions, even though they have been made innocently and in good faith.
International Autograph Auctions Limited Directors: R. A. Davie, C. L. Sayer Registered Office: 10 Grosvenor Avenue, Mapperley Park, Nottingham, NG3 5DX, England Registered Number: 5493040 VAT Registration Number: 870 3191 33
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