STANDARD CONDITIONS OF SALE
1. DEFINITIONS
2. In these conditions Wright Marshall Ltd, who act only as auctioneers and agents for the vendor, are called “The Auctioneers”, and the representative of Wright Marshall Ltd conducting the auction is called “The Auctioneer”.
3. GENERAL
4. Whilst Wright Marshall make every effort to ensure the accuracy of their catalogue and the description of any lot:
1. 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.
2. Wright Marshall do 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 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.
3. All statements, whether printed in the catalogue or made orally, as to any of the matters set out in (2) above are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by Wright Marshall, 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.
4. Any claim under any Statute must be received in writing by the Auctioneer within ten days of the day of the sale.
5. Wright Marshall reserves the right to perform an ‘Anti Money Laundering’ check on all new clients, it is incumbent upon the client to provide sufficient information to facilitate this search. Wright Marshall reserve the right to refuse new clients based on the results of this search without in any case giving any reason or without previous notice.
5. THE AUCTION
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 sale, to refuse bids, regulate bidding or cancel the sale 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. 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, he 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.
3. Each lot is put up for sale subject to any reserve price placed by the vendor. Where there is a reserve price (but not otherwise) the Auctioneer may bid on behalf of the vendor.
4. 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.
6. RESCISSION
7. Notwithstanding any other terms of these Conditions, if within fourteen days after the sale Wright Marshall have received from the buyer of any lot notice in writing that in his view the lot is a deliberate forgery and within twenty-one days after such notification the buyer returns the sale to Wright Marshall in the same condition as at the time of sale and by producing evidence, the burden of proof to be upon the buyer, satisfies Wright Marshall that considered in the light of entry in the catalogue the lot is a deliberate forgery, then the sale of the lot will be rescinded and the purchase price of the same refunded. In the event of a dispute then the matter shall be settled by arbitration, the arbitrator to be nominated by the President of the Royal Institution of Chartered Surveyors. Both the buyer and the vendor agree to be bound by the decision.
8. DEFAULT
1. In the event of a sale by private treaty both the vendor and the buyer agree to be bound by the General and any Special Conditions of Sale.
VENDORS CONDITIONS
9. INSTRUCTIONS
1. All goods delivered to Wright Marshall saleroom premises will be deemed to have been delivered for sale by auction unless previously stated in writing and sold at the discretion of Wright Marshall in a capacity as auctioneers and they will be deemed to have been accepted by Wright Marshall for sale subject to the Conditions of Sale as displayed at the Saleroom supplied with the entry form of items entered off the saleroom premises, or such variation thereon as may from time to time be announced. Delivery of the goods to Wright Marshall by and on behalf of a vendor shall be deemed to represent acknowledgement that he or she has accepted and agreed to be bound by the said Conditions of Sale.
2. Wright Marshall reserve the right to refuse entry of items deemed to be unsaleable, unfit for purpose or below standard.
10. COLLECTIONS
Wright Marshall disclaim all responsibility for loss or damage to goods or for unauthorised removal of goods and for damage to premises caused by the contractor who should be insured for such risks. Unless instructions are received to the contrary the charge for these services will be deducted from the proceeds of the sale.
11. LOSS OR DAMAGE
Wright Marshall disclaim all responsibility for loss or damage to goods or for unauthorised removal of goods unless caused by the direct negligence of their employees.
12. STORAGE
Wright Marshall reserve the right to sell/store or arrange for sale/storage of goods delivered to them for sale either on their own premises or elsewhere at their discretion. They exempt themselves from any liability for loss or damage to goods delivered to their salerooms without sufficient sale instructions and reserve the right to make a minimum storage charge at ?3.00 plus VAT per lot per day for such goods (unless the loss or damage is caused by the negligence of their employees).
13. RIGHT TO SELL
Vendors will be charged for goods left on the premises if the vendor has been requested to remove them and if the goods are not removed by 5pm on the Friday of the week of sale Wright Marshall reserve the right to sell the goods to defray costs and storage charges or dispose of the goods if they are of no saleable value and charge the owners of the goods for disposal.
14. RECISSION
If before Wright Marshall remit the “sale proceeds” to the seller, the buyer makes a claim to rescind the sale under the Terms & Conditions of Sale if appropriate and Wright Marshall are of the opinion that the claim is justified, Wright Marshall are authorised to rescind the sale and refund to the buyer any amount paid to Wright Marshall in respect of the lot.
15. UNSOLD LOTS
If lots offered for sale by Wright Marshall fail to sell, Wright Marshall shall notify the seller accordingly. The seller shall make arrangements either to re-offer the lot for sale if deemed suitable for reoffer by Wright Marshall or to collect the lot.
1. Within 7 days of notification the seller shall be responsible for any removal and storage expenses.
2. Within 10 days of notification, Wright Marshall shall have the right to sell the lot at auction without reserve and to deduct from the “hammer price” any sum owing to Wright Marshall including (without limitation) removal and storage expenses before remitting the balance to the seller.
16. LOSS AND DAMAGES
1. Unless otherwise instructed in writing all goods on Wright Marshall premises and in their custody will be held insured against the risks of fire, theft following forcible entry and water damage. The value of the goods so covered shall be the gross amount realised or in the case of unsold lots the best bid, or in the case of goods withdrawn prior to a sale that which the specialised staff of Wright Marshall shall in their absolute discretion estimate to be the auction value of such goods.
2. Wright Marshall shall be responsible for Loss and Damage covering goods stored on our premises against the risk of fire, burglary and damage.
3. In respect of any article delivered to Wright Marshall 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 Wright Marshall interest as bailees in such policy or policies.
17. RESERVES
1. All goods are put up for sale without reserve at the Auctioneer’s discretion unless clear written instruction on an entry form as to reserves are received by Wright Marshall prior to the commencement of the sale.
2. In the event of any reserve price not being reached at auction Wright Marshall are empowered to sell after the auction, by private treaty, at not less than 10% under the reserve price, as long as the goods remain on Wright Marshall premises. In the event of such a sale by private treaty the Conditions of sale applicable to a buyer governing the auction will apply.
3. We reserve the right to charge an unsold fee of 10% of unagreed reserves with a minimum charge of ?25 per lot.
4. Reserves below ?50 will only be accepted at the Auctioneers discretion and in any event no responsibility will be undertaken for such reserves below ?50. In all cases the Auctioneer reserves the right to sell within 10% of the reserve price.
18. INDEMNITY
The vendor shall duly indemnify Wright Marshall against any claims in connection with any goods sold by Wright Marshall on the vendor’s behalf.
19. ELECTRICAL GOODS
The seller of electrical or mechanical goods warrants and undertakes to Wright Marshall that at the date on which the same are consigned to Wright Marshall except where previously disclosed to Wright Marshall the same are safe if reasonably used for the purpose for which they were designed and free from any defect not obvious on external inspection which could prove dangerous to human life or health and will indemnify Wright Marshall, its servants and agents against any loss or damage suffered by any of them in consequence of any breach of the above warranty and undertaking. Furthermore all electrical goods will be sold electrically untested and cables severed where deemed necessary by Wright Marshall.
20. RIGHTS TO PHOTOGRAPHS AND ILLUSTRATIONS
The vendor gives Wright Marshall full and absolute right to photograph and illustrate any lot placed in its hands for sale and to use such photographs and illustrations any photographs provided by the vendor at any time at its absolute discretion (whether or not in connection with the auction).
19. PROCEEDS OF SALE
1. Wright Marshall undertakes to pay the vendor the proceeds of sale, less commission, and other notified deductions, as displayed, irrespective of whether payment has been received from the purchaser. Payment will be made within twenty-eight days of the date of the sale except for items achieving a hammer price of ?5,000 or more where the right is reserved by the auctioneers to withhold payment to the vendor until cleared funds have been received from the purchaser. All monies paid to the Auctioneers are held to be the property of Wright Marshall and are not held in trust for the vendor EXCEPT whereby a variation to the proceeding undertaking is notified to the vendor in writing prior to the sale. The Auctioneers however reserve the right to retain the proceeds of a sale as stakeholder pending receipt of payment in full from the purchaser in the case of their acceptance of an electronic or telephonic bid or in circumstances in which they have reasonable grounds to question the bona fide nature of the bidding in respect of any lot and/or the intention and ability of the purchaser to make payment in full accordance with the Conditions of Sale.
2. All financial transactions within Wright Marshall Ltd are conducted with the Auctioneers acting as Principal. Sale proceeds are not paid into a client bank account and, consequently, the RICS Client Money Protection Scheme (CMPS) will not apply to protect the vendor.
20. LOT WITHDRAWAL
In the event of a vendor withdrawing a lot within 7 working days of a General Home Furnishing Sale and 21 days of an Antique Sale into which the item or items have been entered, there will be a minimum withdrawal fee of ?25 per lot or 10% of the reserve or lower auction estimate in the case of higher value goods, whichever is the higher.
21. VALUE ADDED TAX
1. Where the vendor is registered for VAT purposes and enters any goods for Sale which are not technically household chattels, we are obliged by law under these circumstances to charge VAT at the prevailing rate and in addition to the Sale price as knocked down. This tax will be paid to the Vendor who will be obliged to account to the Customs & Excise office. This information must be supplied to the Auctioneer on or prior to delivery of the goods.
2. We are legally obliged to enquire of Vendors as to whether or not they are registered for the purposes of VAT. If they are registered they must provide their VAT registration number in the space provided on the form.
BUYERS CONDITIONS
22. INSPECTION
Each buyer on making a bid for a lot acknowledges that he has satisfied himself fully before bidding by inspection or otherwise as to all the Sale Conditions the physical condition of and description of the lot including but not restricted to whether the lot is damaged or has been repaired or restored.
23. PROPERTY AND RISK
Legal title will not pass to the buyer until the lot(s) has been paid for in full and the Auctioneers shall be entitled to a lien on any lot sold until the purchase price (as defined in 26 below) is paid in full but each lot is at the sole risk of the buyer from the fall of the hammer. Each buyer shall forthwith give his full names and permanent address and if called upon to do so by the Auctioneer shall forthwith pay to Wright Marshall such proportion of the purchase price as the Auctioneer may require. If the buyer fails to do so, the lot may at the Auctioneer's discretion be put up again and re-sold.
24. PRINCIPAL
Every bidder shall be deemed to act as principal unless there is in force a written acknowledgement by Wright Marshall that he acts as agent on behalf of a named principal.
25. REMOVAL OF GOODS
1. No purchase shall be claimed or removed until it has been paid for and the sale has been concluded. All purchases shall be paid for and removed at the buyer's risk and expense by the end of the second working day after the sale, failing which the Auctioneer shall not be responsible if the same are lost, stolen, damaged or destroyed, and all lots not so removed shall remain at the risk of the buyer and subject to a minimum warehousing charge of ?3.00 per lot per day plus VAT. If they are not paid for and removed within seven days of the sale the Auctioneer may re-sell them by auction or privately without notice to the buyer. Any liability which there may be on the part of the Auctioneer in respect of any loss shall be restricted to a maximum of the price paid by the buyer of the lot sold.
2. In the event of any failure of the buyers to comply with any of the above conditions the damages recoverable by the seller or the Auctioneers from the defaulter shall include any loss arising on any re-sale of the lot, together with the charges and expenses in respect of both sales, and together with interest at 2% above Base Rate upon the price of any lot which has not been paid for within 48 hours of the sale, and any money deposited in part payment shall be held by the Auctioneers on account of any liability of the defaulter to them or to the seller. The Auctioneers are unable to accept payment from successful bidders other than in cash or by the bidder's own cheque. Cheques drawn by third parties, whether in the Auctioneer's favour or requiring endorsement, cannot be accepted.
26. PURCHASE PRICE
1. The purchaser of any lot shall pay the hammer price plus a premium (together with VAT on the premium for all lots and on the hammer price if applicable to that lot). The premium shall be calculated at 17.50% plus VAT on the hammer price of each lot. The premium at the appropriate rate is payable by all purchasers. The vendor authorises the Auctioneer to deduct commission and expenses at the agreed rates from the hammer price and the purchaser and the vendor acknowledge Wright Marshall’s right to retain the premium payable by the purchaser.
2. Not only will any bidder or purchaser at any sales be deemed to be purchasing, or to have purchased, in full knowledge of, and agreement with, these and any other printed or announced conditions of sale, he will also be deemed to be in full knowledge of, and agreement with, such other conditions of sale as are on display during normal office hours in the offices of the Auctioneers.
3. The auctioneers’ bankers are The Royal Bank of Scotland plc, 2 Canute Square, Knutsford, Cheshire, WA16 6BJ. Their telephone number is Knutsford (01565) 654826. The branch sorting code is 162227 and forward payment by transfer should be made to the credit of ‘Wright Marshall Ltd’ – Auction Account 10905773.
4. If the auctioneer finds it necessary to use solicitors or other professional parties to recover any outstanding accounts or any other charges or expenses, the purchaser will, in addition, be required to pay for such costs incurred and shall indemnify the auctioneer in respect of the same.
5. Should an account or any other charges or expenses not be paid on its respective due date, then the auctioneer will be entitled to damages as set out as compensation in the Late Payment of Commercial Debts (Interest) Act 1998 and contractual interest pursuant to said Act or any successor legislation, from the day of sale until settlement. If the said Act does not apply as the purchaser is a consumer then the auctioneer reserves the right to charge interest at the rate set out in said Act (for the avoidance of doubt interest may be charged at 8% above the Bank of England base rate during the period in which the account and/or any other charges or expenses are due).
27. RIGHT OF ADMISSION
1. The right is reserved to refuse admission to the saleroom premises and any used by Wright Marshall without giving a reason.
2. Any person bringing onto any premises used by Wright Marshall any hazardous substances must provide the relevant information for use by the Auctioneers, members of the public and prospective purchasers. Vendors of all goods are reminded of their duty to comply with relevant Health & Safety Acts. Purchasers are reminded that any second hand goods purchased through an auction sale should be thoroughly checked by a competent person before use.
3. In order to comply with section 47 on the VAT Act 1994, all qualified second hand goods will have VAT at the prevailing rate added to the purchase price, unless the correct declarations are completed and signed by the vendor, and full name and address provided by the purchaser.
28. RICS MEMBERS ACCOUNTS REGULATIONS 1993
This auction is not required to comply with requirements of the Members Accounts Regulations of the Royal Institution
of Chartered Surveyors. No monies paid to this saleroom are covered by any scheme for the protection of clients money
operated by the Royal Institution of Chartered Surveyors. This notice is published in accordance with the requirements
of the Royal Institution of Chartered Surveyors from whom a more detailed explanation can be obtained by writing to
The Standards & Practice Department, The Royal Institution of Chartered Surveyors, 12 Great George Street,
Parliament Square, London SW1P 3AD.
29. AUCTIONEERS NOTICE
1. At all times prior to the fall of the hammer chattels remain the responsibility of the vendor and thereafter the
responsibility of the purchaser at no time other than when due care is expected of an agent do auctioneers accept responsibility.
2. The insurance of chattels is always the duty of the owner.
30. ESTIMATES
The estimated selling price for each lot is available upon request. The estimates are prepared well in advance of the
sale and are not definitive, and are subject to revision.
31. STORAGE CHARGES
Buyers are reminded that storage charge of ?3.00 plus VAT per lot per day will be levied on all lots that are not
collected in accordance with the Conditions of Sale ( see clause 25.2 above).
32. BIDS
We will be pleased to execute bids on behalf of intending buyers, and no charge is made for this service. Lots will be
purchased as cheaply as permitted by other bids and reserves. Bids must be submitted to the Office at least half an
hour before the sale commences, and should be entered on the form provided. Bids left by telephone will be accepted
only on the condition that they are at the sender's risk, and must in any case be confirmed in writing.
33. EXPORT LICENCE
A specific license is required before export from the UK of items that cost ?35,000 or more, and are at least 50 years
old, and also for certain other categories. For further information please enquire in the Office.
34. VALUE ADDED TAX
1.. Any lot disclosed at the time of Sale as being the property of a person registered for VAT purposes will carry the tax at the prevailing rate in addition to the knocked down price AND PURCHASERS SHOULD NOTE THIS POINT.
2. The symbol * after any lot number indicates the VAT is payable by the purchaser in addition to the selling price.
3. In addition, VAT will also be charged on our commission.
35. PAYMENT
Payment must be made within 48 hours of completion of the sale in which the goods have been purchased.
Wright Marshall are able to accept cash payments (for exceptions please see money laundering regulations below).
Wright Marshall are able to accept payment by cheque, goods will only be released once the cheque has been cleared
on values over ?1,000.00. Goods over this value may only be released on the approval of a partner, senior valuer or
partnership accountant.
Credit and Debit card payments made by phone are restricted to a maximum of ?1,000, only one card may be used for
each transaction.
Wright Marshall are able to accept payment by a variety of cards in settlement of clients’ accounts, please enquire with
the office which cards are accepted No charge will be made in respect of payments made by debit card. However a
surcharge equal to 1.50% (inclusive of VAT at the appropriate rate) of the amount payable will be levied in respect of
payments made by credit cards.
36. ELECTRICAL GOODS
It is essential that those lots in this sale which are originally operated by mains electricity be checked by the buyer prior
to use. They may not comply with the statutory requirement and as such are offered for sale solely for display or
historical research purposes: these lots are not suitable for connection to the mains electricity supply. Wright Marshall
cannot accept responsibility for any act of the buyer in contravention of the above.
37. THIRD PARTY LIABILITY
If you would like an opinion on the condition of any lot prior to purchasing, or if you are unable to attend the sale and
would like a condition report on any lot in the sale, telephone our offices and they will endeavour to help you. Any
condition report is subject to paragraphs 2.2 and 2.3 of these conditions of sale. Condition reports will not be given on
the day of the sale.
38. TELEPHONE BIDS
Buyers wishing to bid by telephone during a sale should make their request at least one working day before the sale by
telephoning us on 01565 653284 (Knutsford Office) or 01829 262150 (Beeston Office). In order to secure a telephone
line you must be prepared to bid to within 10% of the low end of the estimate unless authorised by the Saleroom
Partner or Senior Auctioneer.
IMPORTANT NOTICES
FULL CONDITIONS OF BUSINESS
Full conditions are displayed in our auction rooms and in our Antique sale catalogue and copies can be obtained from Wright Marshall Ltd, Marshall House, Church Hill, Knutsford, Cheshire, WA16 6DH, or Wright Marshall Ltd, Beeston Castle Salerooms, Beeston Castle Smithfield, Tarporley, Cheshire, CW6 9NZ
