LIVE BIDDING TERMS & CONDITIONS OF SALE

1. Live Bidding is subject to a 18% buyers premium, plus an additional 3% live bidding premium, + VAT, over and above the hammer price. Lots marked ARR may be subject to an additional buyers charge of between 4% - 0.25% for artist resale rights, should the hammer price be the equivalent of 1,000 Euros or more.

2. Condition – we strongly recommend that you have either viewed items in person or have received a condition report. NO REFUNDS will be given after sale due to the condition of items.

3. Payment - full settlement of invoices is required within 7 days of the sale. Payment for invoices not settled after 7 days, where the auctioneers deems it appropriate, will automatically be taken from the card details supplied to the “saleroom.com”. Cash – a single payment of up to £10,000 in cash is acceptable per sale, per person. Cheques must be supported by a bank card and goods cannot be removed until cheques have cleared. Card payments: Items paid for by debit or credit card in person using a pin number may be cleared immediately. Card payments buyer not present will only be accepted up to our floor limit and items will not be released for 7 working days and must be delivered to the card registered address. Items above our floor limit will need to be settled by bank transfer or cheque. OVERSEAS BUYERS: although card details may have been taken for security when placing bids we require payment by bank transfer.

SETTLEMENT OF ACCOUNTS: Please note invoice not settled within 14 days of the sale will be subject to interest charge at Lloyds TSB bank base rate plus 6%.

4. Postage & Packing - we can recommend professional packing firms for any items which you are unable to collect. We do offer a post and packing service but are not professional packers and will require a disclaimer from buyers confirming that they will take responsibility for packaged items once they leave our premises. Over and above the postage fee we charge a minimum handling fee of £10 to post and pack and we have a set packing day 10 days after each sale.

5. Every Sale and these Conditions of Sale shall be governed by and construed in accordance with English Law and shall be subject to the jurisdiction of English Courts.

6. The Company acts as Agents only in respect of goods delivered for the purposes of sale and herein shall be known as the ‘Auctioneers’. Persons instructing the Firm to sell goods are herein known as ‘Vendors’. Persons who have acquired lots offered for sale by the Auctioneers are herein known as the ‘Purchasers’.

7. All persons attending a Sale under the conduct of the Auctioneers – whether at their Salerooms or elsewhere – shall be deemed to be on the land and premises at their own risk and shall have no claim against the Auctioneers or their principals in respect of the cancellation/ postponement of a Sale or any loss, accident or injury however occasioned, save in so far as the same is proven to be caused by the direct negligence of an employee(s) of the Firm.

8. The Auctioneers make every reasonable effort to ensure the accuracy of advertisements, catalogue descriptions and other publicity but except where specifically instructed so to certify by a Vendor, declare that all statements, oral or in writing, are those of opinion only, made without responsibility and shall not give rise to any action in law for damages, compensation or rescission of a sale by a Purchaser, against any Vendor, the Auctioneers or their employees.

9. Many lots are of an age or nature which preclude their being in pristine condition. Some catalogue descriptions may make reference to damage and/or restoration; however, omission of such a reference does not imply a lot is free from defects nor does any reference to a particular defect imply the absence of others.

10. Purchasers should, therefore, satisfy themselves by physical inspection of lots, before bidding, as to the origin, authenticity, quality, age, weight, size and general description – as lots are sold in their actual state with all faults, imperfections or errors of description. If physical inspection is not possible we strongly recommend you request a condition report/s before placing bid/s.

11. Electrical/ mechanical goods are sold on the strict understanding that these are untested, without warranties or any other guarantees as to serviceability or working order.

12. Persons handling lots do so at their own risk and shall make good all loss or damage howsoever sustained; each estimate of cost to be assessed by the Auctioneers whose decision shall be final.

13. In making a bid, Purchasers acknowledge their attention has been drawn to these Conditions of Sale and that they are satisfied as to the description and condition of lots.

14. Lots are sold subject to any announcement, declaration, alteration of description or other matters, made by the Auctioneers prior to the invitation of bids.

15. At the fall of the hammer, the highest bidder, acceptable to the Auctioneers, shall be the Purchaser and any dispute shall be settled by the Auctioneers, whose decision shall be absolute and final. No lots shall be transferred.

16. The Auctioneers may divide, combine, add or withdraw lots and make any catalogue alterations without notice or reason; they shall regulate the advance of bidding, accept or reject (at their absolute discretion and without justification) and bid on behalf of the Vendor, where there is a reserve price or at their authorised discretion.

17. Prospective purchasers must register their name, full address and credit or debit card details with the Auctioneers before bidding or the saleroom.com.

18. As Agents only, the Auctioneers shall not be responsible for default on the part of Vendors or Purchasers. Any resultant deficiency, together with interest, costs and expenses, shall be made good by the defaulter, recoverable as and for liquidated damages. This condition is, however, without prejudice to the right of the Auctioneer, in appropriate circumstances, to enforce the Sale Contract if they see fit.

19. The Contract of Sale is made with the Auctioneers, as Agents for the Vendors and payment shall be made only to them. Notwithstanding the foregoing, the Auctioneers shall retain a lien on all goods which shall not pass to the Purchaser until full payment has been received.

20. Client Money : Clients' money is defined as any monies received and held by a firm that does not solely belong to it, such as sale proceeds and deposits, auction sale proceeds, etc. The firm closely follows RICS Regulations on protecting clients' monies and operates a number of designated client bank accounts specifically for the depositing of client monies. The current client accounts are maintained at Lloyds TSB in Cirencester and are not interest bearing.

21. At the fall of the hammer, all lots shall be and remain, in every respect, at the absolute risk of the Purchaser, including those of fire, burglary, etc, and damage occasioned to lots by the removal of other goods.

22. Purchasers shall pay for and remove lots at their own risk and expense immediately following the Sale; after 7 days from the sale date uncollected lots shall be subject to a charge of between £2 and £10 per day to cover storage, unless prior arrangements have been made with the Saleroom Manager. The Auctioneers reserve the right to resell uncollected lots by auction or private treaty or alternatively, warehouse goods at a Purchaser’s expense. In all cases, the Auctioneers may act without notice and any incidental expenses incurred will become a liability to the defaulter.

23. Notwithstanding any other terms in these Conditions of Sale, if within seven days of a Sale, a Purchaser gives notice in writing to the Auctioneers, that in his/her opinion a particular lot (this shall not apply to books or similar printed matter) is a deliberate forgery, as defined below and within fourteen days after such written notice, returns lots to the Auctioneers in the same condition as it was at the time of Sale – and by producing evidence, the burden of proof to be upon the Purchaser- satisfies the Auctioneers that the lot is a deliberate forgery, then the Auctioneers are authorised to do so and will rescind the transaction and refund the purchase price received by them. This benefit is not assignable.

In the context of this guarantee, a ‘deliberate forgery’ means a lot made with an intention to deceive, when considered in the light of the catalogue entry and at the date of the Sale had a value substantially less than it would have had, had it been in accordance with the description. However, there will be no right where the description in the catalogue at the time of the Sale was in accordance with the general opinion of experts or fairly indicated there to be a conflict of opinion. The Auctioneers reserve the right in forming their opinion to consult and rely upon any expert or authority considered by them to by reliable.

24. The Auctioneers are prepared to accept commission bids on behalf of intending Purchasers unable to attend at the time of Sale, provided they are completed on the correct bidding form and received by the Auctioneers by 8.00 pm on View Day. The Auctioneers regret that any bids left after this time are not guaranteed to be processed/executed. Telephone bids must be organised by contacting the Auctioneers directly. As a matter of policy all bids must be backed by credit/debit card details, unless the prospective purchaser has received in writing from the Auctioneers "Approved" or "Regular" buyer status, in which case the relevant code will be required. If submitting bids by e-mail please confirm credit/debit cards with the Auctioneers by telephone. The Auctioneers regret that any bids left without the backing of credit/debit card details, or an "Approved" or "Regular" buyer code, will not be processed/executed. The Auctioneers cannot be held responsible for, nor are they connected with, commission bids given to Porters.

25. The auctioneers reserve the right to ask for evidence of identity before clients complete transactions.

26. Moore Allen & Innocent is a Limited Liability Partnership registered in England and Wales, No 0C311820. Registered Office 33 Castle Street, Glos. GL7 1QD. A list of members is available at the registered office. You will be contracting directly with Moore Allen & Innocent, Limited Liability Partnership (LLP), and not with any individual Member or employee personally. No Member of the LLP or any fee earner can accept personal liability for your work. The legal liability will be the liability of the LLP. Regulated by R.I.C.S.