Buying & Selling at Peebles Auction House
1. Auctioneer
The individual representative of Peebles Auction House (which will hereinafter be referred to as PAH) conducting the auction is hereinafter referred to as ‘the auctioneer’. Whilst Peebles Auction House has made every effort to ensure that any catalogue and the description of any lot is accurate, it shall be understood that any lot set out in the catalogue or subsequently divided or combined with any other lot or lots shall be sold by the seller with all faults, imperfections and errors of description. PAH do not accept responsibility for the authenticity, attributions, genuineness, origin, authorship, date, age, period, condition or quality of any lot and in so far as they may specifically do so in respect of any lot they have been so instructed in writing by the seller so to certify and in doing so they do as agents of the seller are not themselves responsible for such information. All statements whether printed in the catalogue or made orally as to any of the matters of information described above shall be statements of opinion only and are not to be taken as being of implying any warranty of representation of fact by PAH unless they have been instructed in writing by the seller to certify and in which case they do so as agents of the seller.
2. Bidding
PAH has absolute discretion to divide any lot, to divide or combine any two or more lots or to withdraw any lot or lots from the sale, to refuse bids, to regulate bidding or to cancel the sale without, in any case, giving reason or without previous notice. PAH shall be at liberty to bid on behalf of the seller for all goods which are being offered subject to reserve up to the amount of the reserve. The highest bidder shall be the buyer except in the case of a dispute. If during the auction PAH considers a dispute has arisen he shall be entitled at his absolute discretion to settle the dispute or to re-offer the lot for bidding. PAH may at his sole discretion determine the advance of bidding or refuse a bid. All conditions, notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statement, modifying or affecting the same made by PAH from the rostrum prior to any bid being accepted for the lot.
3. Default
PAH disclaim responsibility 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 vendor’s risk and must be confirmed in writing forthwith. In the event of a sale by private treaty both the vendor and the buyer agree to be bound by the general and special conditions of sale.
3.1 Every person on PAH premises at any time shall be deemed to be there at his or her own risk. He or she shall have no claim against PAH 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 PAH employees.
Seller
4. Authority and Instruction to Sell
By delivery of any item to PAH, to be included in any auction sale every seller shall be taken to acknowledge that he or she shall be bound by the whole of the conditions hereinafter written and by such delivery the item of property shall be deemed to be delivered for the purpose of sale by auction by PAH on behalf of the seller and authority shall be deemed to have been granted to PAH to catalogue and include the item in a sale by auction subject to these conditions.
4.1 The seller warrants PAH and the buyer that he or she is the true owner of the lot or is authorized by the true owner to sell the lot and (in either case) is able to transfer good and marketable title to the lot free from any liens, charges or third party claims. When the selling is authorized by the true owner to sell the lot, the seller must name the owner and produce such written evidence of his authority at PAH request.
4.2 If the seller is selling a lot not held by PAH on its premises or under its control, the seller warrants and undertakes to PAH and the buyer that upon demand by the buyer, the lot will be available and will be in a deliverable state.
4.3 The seller warrants that all information supplied to PAH in connection with the lot is to the best of his knowledge, information and belief, accurate.
4.4 Sellers commission
The seller shall be charged a commission rate of 26% of the hammer price, with an additional ?1 per lot catalogue/internet fee with value added tax (if applicable) at the current rate on the said commission. The seller acknowledges that PAH may also receive a commission from the buyer in accordance with the foregoing terms of these conditions.
4.5 Sellers commission (Unsold lot sale - separate from the above main sale sellers commission)
The seller shall be charged a commission rate of 50% of the hammer price, with the addition of value added tax (if applicable) at the current rate on the said commission.
5. Auctioneers Right to Sell
In the event of any seller being requested to remove any goods left with PAH and failing to do so within seven days of such request PAH shall be entitled to sell such goods and recover from the price realised all costs including storage charges which have been incurred to PAH.
6. Risk of loss or damage
PAH shall in no circumstances be responsible for any loss or damage to any goods or for their unauthorised removal or theft unless arising from the direct negligence of PAH or its employees.
6.2 PAH shall not be responsible for damage to or the loss, theft or destruction of any goods not so insured upon the owner’s written instructions.
6.3 PAH shall not be responsible for accidental breakage, loss or damage howsoever caused unless directly caused by negligence of their employees.
6.4 In respect of any article delivered to PAH, if the vendor has in force a policy or policies of insurance in which the article is specifically mentioned as being insured, whether or not for an agreed sum or value, the vendor shall notify his insurers of and shall himself note PAH interest as bilees in such policy or policies.
6.5 In no event will PAH be liable for damage to glass or picture frames whether forming the whole or part of any lot, or depreciation in value following repairable damage in any lot.
6.6 Until the goods are delivered to PAH, the risk remains with the seller
7. Reserves
Unless written instructions as to a reserve price are received by PAH in advance of the beginning of the auction, all goods shall be sold at auction without reserve at PAH absolute discretion. If subsequent to the auction at which the reserve price on any goods has not been reached a buyer presents himself as willing to purchase the goods by private treaty at a price not less than the reserve price and the goods remain on PAH premises then PAH shall be entitled to enter into a sale by private contract at such reserve price as agents on behalf of the seller and these conditions of sale shall, so far as appropriate, operate in respect of such private contract.
7.1 PAH shall be entitled to sell lots at a hammer price of at least 90% of the reserve and/or at auctioneers discretion, unless the seller instructs PAH otherwise in writing prior to the commencement of the auction.
7.2 A fee of ?3 will be charged for a reserve price to be placed on an item per auction, if the item sells at second or subsequent sale then no fee will apply to that sale.
8. Indemnity
The seller shall be obliged to give indemnity to PAH against any claim arising in respect of any goods sold by PAH on behalf of the seller.
9. Value Added Tax
A vendor who sends for sale by auction any items which are an asset of his business must disclose to PAH whether or not he is a registered person for value added tax purposes and, if so, his registered number and whether or not he intends to operate the special scheme covering works of art, etc. This information must be supplied to PAH on or prior to delivery of goods.
9.1 Value Added Tax on hammer price is imposed by law on all items affixed with a dagger (?). Value Added Tax is charged at the appropriate rate.
10. Charges
The vendor authorises PAH to deduct commission and expenses at the stated rates from the hammer price and acknowledges PAH right to retain any premium payable by the purchaser.
11. Photographs and illustrations
The seller gives PAH the absolute right to photograph and illustrate any lot and to use such photographs and illustrations (and any photographs and illustrations provided by the seller) as it may see fit (whether or not in connection with the auction at which the lot is to be offered for sale).
12. Payment of sale proceeds to the seller
PAH shall pay the sale proceeds to the seller not later than 45 days after the auction if the purchase price has been received by PAH from the buyer. Notwithstanding that the seller has not received the sale prices, he will transfer the title of the lot to the buyer.
12.1 If the buyer fails to pay the purchase price on the day of the auction this will result in forfeiture of the goods, which will then be re-entered into the next sale.
13. Rescission of the sale
If the buyer makes a claim to rescind the sale on the basis of condition 24.1 and in PAH opinion that claim is justified, or PAH decides to rescind the sale, PAH may rescind the sale without further reference to the seller and refund to the buyer any amount already paid in respect of the lot.
13.1 If the seller has received any monies in respect of the sale of a lot and that sale is rescinded, PAH has the right to recover such monies from the seller
14. Withdrawn lots
If the seller cancels his instructions for sale at any time, PAH reserves the right to charge a fee of 10% of either PAH upper estimate or the reserve on the lot (if one has been placed), in both cases plus VAT.
14.1 Upon withdrawal of the lot the seller shall arrange for the collection and removal of the lot at his own expense on or before two working days after the date of withdrawal. if the seller fails to remove the lot he shall pay to PAH the storage charges due.
14.2 Any legal fees, experts’ fees and other expenses that PAH may incur investigating any claim concerning ownership of the lot shall be borne by the seller, who shall reimburse to PAH all such fees and other expenses on a full indemnity basis.
15. Unsold lots
If any lot fails to sell it is the vendors responsibility to collect the items within five days of the auction or instruct PAH to re-offer the lot for sale.
15.1 In the event that the seller fails to remove the lot within five days, the items will be automatically re-entered into our next available sale without prior notice and will be sold at best or disposed of at the auctioneers discretion.
15.2 If any lot fails to sell after two consecutive sales, it is the vendors responsibility to collect the items within five days of the second auction or daily storage fees and/or disposal fees will apply.
Buyers
16. Inspection
Each buyer who makes a bid acknowledges that he has satisfied himself fully by inspection or otherwise as to all the sale conditions and description of the lot on which he or she bids including, but not restricted to whether the lot is damaged or has been repaired or restored.
17. Property and risk
No buyer shall acquire legal title to any lot or lots purchased by him until payment in full has been made. PAH shall be entitled to exercise a lien on any lot sold until the purchase price is paid in full. Each lot purchased (by a buyer) shall however be at the risk of the buyer of that individual lot from the fall of the hammer. Before making a bid each buyer shall be obliged to give his full name, permanent address and contact telephone number and is so requested by PAH (at their sole discretion) to immediately pay to them a proportion of the purchase price as they may require in their absolute discretion. In the event of any buyer failing to comply with the terms of this condition PAH shall be entitled to put the individual lot or lots in question for re-bidding and they may be re-sold.
18. Buyer as principal
Every bidder shall be deemed to be acting as a principal unless prior to the time of the auction there is a written acknowledgement by PAH to the effect that he is acting as an agent only on behalf of a named and disclosed principal.
19. The Buyer
Any dispute as to who is the buyer of any lot shall be settled by PAH.
20. Removal of goods
No goods purchased shall be claimed or removed until they have been paid for in full. All goods purchased shall be paid for and removed at the buyers risk and expense by a time no later than the end of the first working day after the sale, failing which PAH shall not be responsible for any loss, damage, destruction or theft of the goods and all lots not so removed shall remain at the risk of the buyer. In the event that any goods are not paid for and removed within seven days after the sale PAH shall be entitled to re-sell them by auction or privately without further notice to the buyer. PAH shall not be obliged to accept payment from a successful bidder other than in cash, debit cards or credit cards (5% surcharge inclusive of vat). Storage charges will apply to items not collected within two days of purchase unless by prior arrangement.
21. Buyers commission
The buyer shall be obliged to pay the hammer price together with a commission of 15% on the hammer price, in addition together with value added tax at the current rate on the said commission. The buyer acknowledges that PAH may also receive a commission from the seller in accordance with the foregoing terms of these conditions.
21.1 Buyers commission (Unsold lot sale)
The buyer does not pay any commission(s) on winning bids. Payment must be made at the time of sale unless alternative arrangements have been made with PAH management prior to the sale commencing.
22. VAT
Where VAT is payable by the buyer on the hammer price this is indicated in the catalogue by an asterix.
23. Commission bids
Prospective buyers are advised to attend in person auctions run by PAH. However PAH will if so instructed execute written bids up to a specified limit from prospective buyers sent by e-mail, or received by phone by PAH in advance of an auction or (at PAH discretion) bids by telephone made by or on behalf of prospective buyers before the auction. The buyer shall deliver any instructions regarding commission bids whether delivered by e-mail, telephone or in person to an employee of PAH, being PAH or an employee authorised to accept such instructions. Neither PAH nor its employees or agents will be liable for any neglect, default or failure to act in connection with any commission bids.
23.1 In the event that PAH has received commission bids on a lot for identical amounts and at auction those commission bids are the highest bids for the lot it is at PAH ultimate discretion that it shall be sold to the person whose commission bid was received first.
24. Liability of Peebles Auction House and the seller
Neither the seller, PAH or its employees or agents are responsible for errors of description (made either orally or in any catalogue) or for the genuineness or authenticity of any lot. No warranty whatsoever is given by PAH, its employees or agents by any seller to any buyer in respect of any lot and any express or implied conditions and warranties are hereby excluded.
24.1 Notwithstanding any other terms of these conditions, if within 14 days after the sale PAH has received from the buyer of any lot notice in writing that in his view the lot is a deliberate forgery, the buyer returns the lot to PAH in the same condition as at the time of sale then the sale will be rescinded and any amount paid in respect of the lot will be refunded, provided that the buyer shall have no right under this condition if;-
24.1.1 The buyer is not able to satisfy PAH that the lot is a deliberate forgery on the basis of evidence from experts;
24.1.2 The only method of establishing at the date of publication of the catalogue that the lot was a deliberate forgery was by means of scientific processes not generally accepted for use until after publication of the catalogue or a process which was unreasonably expensive or impractical, or;
24.1.3 The buyer is not able to transfer a good and marketable title to the lot free from any third party claims.
24.2 Any claim by a buyer under condition 24.1 shall be limited to any amount paid in respect of the lot and shall not extend to any consequential loss suffered by him as a result of the lot being a deliberate forgery.
24.3 The benefit of this condition shall not be assignable and shall only extend to the buyer, being the person to whom the original invoice was made out by PAH in respect of the lot when sold and who has since the sale retained uninterrupted, unencumbered ownership of that lot.
25. Payment
A prospective buyer must prior to an auction register to bid and give PAH his full name, permanent address and telephone number and if requested by PAH banking or other suitable references.
25.1 The purchase price must be paid to PAH on the day of the auction.
25.2 Full payment for all lots must be made to PAH by means of cash, debit card, credit card (3% surcharge inclusive of vat.) Debit and credit card payments can only be accepted if the buyer is paying in person.
25.3 Any payments by a buyer to PAH may be applied by PAH towards or set off against any sums owing from that buyer to PAH on any account.
26 Any disputes must be put in writing to Peebles Auction House, The Old School, Old Church Road, Peebles, EH45 8LH
