THE GREY HOUSE AUCTIONS CONDITIONS OF BUSINESS

As Auctioneer, The Grey House Auctions offer a contractual relationship between Sellers & Buyers that is governed by the following Terms & Conditions. Any additional information will be posted on the day of sale or during the auctioneer announcements on the sale day. The Grey House Auctions in addition to acting as Agent for the Vendor may on occasion have a financial interest in included lots in any given auction.

CONDITIONS OF BUSINESS APPLICABLE TO BUYERS

The Buyers Premium, Buyers Expenses & Hammer Price are subject to VAT at the current rate where applicable.
The Buyers Premium is the commission payable by the Buyer on the Hammer Price stated by The Grey House Auctions on the sale advice guide.

The Hammer Price is the highest bid for the lot accepted by the auctioneer at the auction or post auction if the lot fails to sell during the live auction

The Purchase Price is the hammer price plus the Buyers Premium & Buyers Expenses (any additional costs in addition to the hammer price such as lot storage, postage etc)

The Reserve Price where applicable is the minimum Hammer Price at which the Vendor has agreed with The Grey House Auctions prior to sale.

1. Viewing of Lots & Inspection. The Bidder or Buyer is any person who has been given the opportunity to inspect of each lot offered by The Grey House Auctions and each Bidder or Buyer by making a bid for a lot acknowledges that he has satisfied himself fully before bidding by inspection or otherwise 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. All verbal and written information and condition reports provided by The Grey House Auctions are statements of opinion and are not representations of factual information. Estimates of lots prior to sale are offered as a guideline only by The Grey House Auctions and may not be relied upon as prediction. The Grey House Auctions reserve the right to revise lot estimates at any time prior to auction.

2. Bidding at Auction. The legal title in a lot shall not pass to the buyer until the lot(s) has been paid for. Each buyer shall forthwith give his full name and permanent address, and on occasions may be asked to provide banking references upon Buyer Registration. If called upon to do so by The Grey House Auctions they shall then pay The Grey House Auctions the purchase price as agreed in the Conditions of Sale. If the buyer fails to do so, the lot may at the auctioneer’s sole direction be re-offered for sale at auction again and re-sold.
At any time, The Grey House Auctions have absolute discretion to refuse entry to the Auction. The contract between the Buyer and the Seller is concluded on the striking of the Auctioneers hammer.

3. The Grey House Auctions advises Bidders to attend the auction and the bidder shall be seen by The Grey House Auctions to act as principal unless there is a written acknowledgement by The Grey House Auctions that he acts as agent on behalf of a named individual. However Bidders remain personally liable for their bid. The Grey House Auctions will accept absentee written bids know as COMMISSION BIDS prior to the auction provided that they are received in a timely manner with and accepted by The Grey House Auctions (The Grey House Auctions cannot be held responsible for errors or omissions when undertaking commission bids on behalf of the bidder). Where possible and where additional auction commitments enable, The Grey House Auctions will accept telephone bids for which an additional charge to the Bidder may be made. The Grey House Auctions therefore are not liable for the failure of telephone bids and all telephone bidding may be recorded.

4. Payment & Collection & the Removal of Goods.
Unless agreed in advance with The Grey House Auctions, no purchase shall be claimed or removed until the sale has been concluded and the lot/s paid for in pounds sterling immediately after the auction. All lots shall be paid for and removed at the buyer’s risk and expense by the end of the third 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 storage charge. If they are not paid for and removed within ten 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.
In the event of failure of the buyer to adhere to the the above conditions of sale, The Grey House Auctions may implement any of the following remedies –

a. Store the lot at The Grey House Auction Premises at the Buyers Sole Risk & Expense until Payment in full is made
b. Cancel the Sale
c. Re-sell the Lot by Auction or Privately where the Buyer is liable for any shortfall between the original Auction Price and the amount achieved by re-sale including all costs
d. Reject future bids from the Buyer
e. Commence Legal Proceedings to recover the Purchase Price for the lot plus expenses and legal costs
f. Disclose the Buyers contact details to the Seller so that they may commence legal proceedings

If the Buyer pays for their lot/s but fails to collect the lot/s within 14 days of the auction the lot/s will be stored at the Buyers expense and risk. If the lot/s remain at The Grey House Auction Premises 6 months post sale, The Grey House Auctions will re-sell the lot/s (after a 30 day notice to sell has been sent) for an estimate/reserve price at the auctioneers discretion, and the sale proceeds will be forfeited unless collected by the buyer within 30 days.

5. Purchase Price. The buyer shall pay the hammer price together with a premium at the stated rates on the hammer price of 20%. Under the Auctioneers’ Margin Scheme operated by HM Customs & Excise, the premium does attract VAT as an addition to the stated premium rate. There is a 2.5% surcharge on all transactions made by credit card.

6. Data Protection. The Grey House Auctions will use the information supplied by Bidders for the provision of auction services, administration and marketing. The Bidder by agreeing to the Conditions of Sale agrees to the processing of their personal information for these auction purposes.

7. Miscellaneous. Catalogue descriptions, images, illustrations and all other materials produced by The Grey House Auctions are the copyright of The Grey House Auctions.

8. Online Bidding
The Grey House Auctions offer an online bidding service via the-saleroom.com for bidders who cannot attend the sale.

In completing the bidder registration on www.the-saleroom.com and providing your credit card details and unless alternative arrangements are agreed with The Grey House Auction authorise The Grey House Auctions , if they so wish, to charge the credit card given in part or full payment, including all fees, for items successfully purchased in the auction via the-saleroom.com, and confirm that you are authorised to provide these credit card details to The Grey House Auctions through www.the-saleroom.com and agree that The Grey House Auctions are entitled to ship the goods to the card holder name and card holder address provided in fulfilment of the sale.

Please note that any lots purchased via the-saleroom.com live auction service will be subject to an additional 3% commission charge + VAT at the rate imposed on the hammer price