CONDITIONS OF SALE
The Auctioneer acts only as an Agent for the Seller (unless otherwise specifically declared) and as such is not responsible for any default by the Seller or Buyer. Accordingly Sellers are not paid until payment is received from the Buyer nor is the Auctioneer necessarily in a position to know the history of or assess the quality of lots sold on behalf of theses principles. In addition lots sold are likely to have been subject to wear and tear caused by the user or the effects of age and may therefore have fault or imperfections. Buyers are given ample opportunity at viewing times to examine lots to be sold and will be assumed to have done so or have requested a condition report. They must rely solely on their own skill and or judgement as to whether lots are fit for a particular purpose and as a compliance with the catalogue description or illustrations (see condition 6).
1. All bids shall be treated as offers made upon these conditions of sale and all persons present are admitted to attend a sale on the basis that they have notice of these conditions.
2. The buyer shall be the person making the highest bid which is acceptable to the Auctioneer as signified by the fall of the hammer. In the case of a dispute as to the highest bidder during or immediately after the sale of a lot the Auctioneer may if he thinks fit put the lot up again for sale. The Auctioneer's decision is final and binding. Every bidder is deemed to act as principle whether or not he uses his own name unless previously agreed with the Auctioneer.
3. The Auctioneer has sole discretion: (a) to refuse any bid, (b) to advance the bidding as he may decide, (c) to decide whether there has been any dispute as to the bidding under Condition 2 and to resell the lot in question, (d) to withdraw or divide any lot or combine one lot with another and (e) to exclude any persons from the Auction Room.
4. Lots put up for sale are subject (a) to any reserve price imposed by the Seller (b) to the right of the Auctioneer to bid on behalf of the Seller and (c) where no reserve price has been imposed (but in no other case) for the Seller to bid personally or through any one Agent.
5. The Buyer shall forthwith or as soon as reasonably possible after the sale of the relevant lot: (a) supply his name and address, (b) pay the full purchase price in a way acceptable to the Auctioneer.(c) clear the lots no later than four days after the sale during normal working hours.
6. Subject to Condition 8: (a) lots are sold with all faults and imperfections and neither the Seller nor the Auctioneer is responsible for any defects whatsoever (b) all items are secondhand, nothing is sold as "new" (c) no warranty is given or authorised to be given by the Seller or the Auctioneer with regard to any lot other than that the Seller had the right to sell it (d) any express or implied conditions or warranties relating to description or quality are hereby excluded.
7. The Auctioneer hereby undertakes that care has been taken to see that catalogue descriptions are accurate and reliable, but these are necessarily matters of opinion only and shall not be taken to be a statement of fact. Subject to Condition 9, neither the Seller nor the Auctioneer are responsible for the correctness of any description of any lots or its attributions in any manner to any particular originator.
8. Notwithstanding Conditions 6 and 7, if the Auctioneer receives in writing from the Buyer within ten days of the sale that in his opinion the lot is a forgery, (as defined in condition 14), and on giving such notification the lot in question is returned to the Auctioneer at his working premises in the same condition as when bought then if on considering such evidence as the Buyer supplies to prove his assertion, the Auctioneer decides that the lot is a forgery the sale of the lot will be resounded and the purchase price repaid to the buyer.
9. The Buyer shall not become the owner of any lot, and the Auctioneer shall have lien thereon, until the Buyer has discharged the purchase price, but after the fall of the hammer the risk of damage or loss shall nevertheless be the Buyer's.
10. If the Buyer fails to pay for or remove any lot bought by him or in any other material respect fails to comply with these conditions the money deposited in part payment (if any) shall be forfeited and the Auctioneer shall have the right, (a) to cancel the sale and return the lot(s) to the owner(s), (b) to proceed against the Buyer for damages for Breach of Contract, (c) to resell the lot by auction or otherwise without notice to the Buyer and if any deficiency occurs on such resale after deducting the Auctioneers full costs and expenses the Buyer shall be responsible to the Seller and Auctioneer thereof, the benefit of any increased price on a resale shall accrue to the Vendor and if he so elects the contract shall be rescinded or alternatively, (d) to store the lot at the Auctioneer's premises or elsewhere and to release the lot to the Buyer only after proper payment in full of all reasonable storage and removal expenses incurred (in addition to the purchase price)
11. The Auctioneers for VAT purposes are selling under the Margin Scheme for second hand goods, works of art, antiques and collectors items unless other wise stated.
12. A Buyer's Premium of 20% of the hammer price is payable by the Buyer’s of all lots which is VAT inclusive.
13. The Seller authorises the Auctioneer to deduct commission at the stated rates and acknowledges the Auctioneer's right to retain a premium payable by the Buyer.
14. In these Conditions: (a) reference to "The Auctioneer" shall be taken to mean as the context so admits, the firm of Inmans Limited or any director or employee thereof at the time of sale (b) "Buyer" shall have the meaning ascribed to it in Condition 2 and for the purpose of these conditions all Buyers shall be deemed to be Principals unless to the knowledge of the Auctioneer they are acting as Agent on behalf of a named Principal, (c) "Forgery" means a lot (i) which is so constituted as deliberately to deceive when considered in the light of its catalogue description and (ii) whose value as such is materially less than if it had complied with the catalogue description , (d) the Interpretation Act 1978 shall apply to the general construction of terms and expressions used in these conditions as if contained in a statute, and these conditions shall be governed by English Law.
