WOTTON AUCTION ROOMS TERMS AND CONDITIONS OF SALE

PURCHASERS SHALL PAY FOR AND REMOVE THEIR LOTS AT THEIR OWN RISK AND EXPENSE IMMEDIATELY FOLLOWING THE SALE (SEE PARAGRAPH 18 BELOW).

LOTS PURCHASED VIA ON-LINE BIDDING ARE LIABLE TO A 3% SURCHARGE (SEE PARAGRAPH 22 BELOW).

1. 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.

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

3. All persons attending a Sale under the conduct of the Auctioneers – whether at the Sale Rooms 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 Company.

4. 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.

5. 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 that a lot is free from defects nor does any reference to a particular defect imply the absence of others.

6. 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.

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

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

9. 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 conditions of lots.

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

11. 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.

12. The Auctioneers may divide, combine, add to or withdraw lots and make any catalogue alterations without notice or reason; they shall regulate the advance of bidding, accept or reject and bid (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.

13. The Purchaser shall give his name (and permanent place of abode, if demanded) and upon failure to do so, the Auctioneers may offer the lots again, at their sole discretion.

14. 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 Auctioneers, in appropriate circumstances, to enforce the Sales Contract if they think fit.

15. The Contract of Sale is made with the Auctioneers, as Agents for the Vendor and payment shall only be made 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.

16. Unless prior arrangements have been made with the Auctioneers, cheques in excess of negotiated limits will not be accepted from the purchasers unknown to them who have not previously supplied a Bank or suitable reference. In all cases, cheques must be supported with the production of a valid Bank Card. Non-compliance with this condition may delay the release of the lots, pending the clearance of cheques.

17. 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.

18. Purchasers shall pay for and remove their lots at their own risk and expense immediately following the sale; after such time they will shall be subject to a daily charge per lot to cover storage and where applicable, interest on outstanding accounts will be levied at 4% above Lloyds Bank Plc. Minimum Lending Rate. Such additional charges being subject to the foregoing conditions regulating payment and no lots shall be released to a Purchaser until any excess charges have been paid. In any event, the Auctioneers reserve the right to resell uncollected lots by auction or private treaty or alternatively, warehouse goods at a Purchasers expense. In all cases, the Auctioneers may act without notice and any incidental expenses incurred will become a liability to the defaulter.

19. Notwithstanding any other terms in these Conditions of Sale, if within seven days of the 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 the lot to the Auctioneer in the same condition as it was at the time of the 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 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 then general opinion of the 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 be reliable.

20. The Auctioneers are prepared to accept commission bids on behalf of intending Purchasers, unable to attend at the time of the Sale, providing requests are made in writing and up to half an hour before the commencement of a Sale and given to the Auctioneers or the Auction Rooms’ Manager. This service is undertaken free of charge but without responsibility. The Auctioneers cannot be held responsible for, nor are they connected with, commission bids given to the Auction Room Porters or any other member of the Auctioneers staff.

21. An inclusive Buyers premium of 20% is payable by all purchasers.

22. A premium of 3% of the hammer price is payable on all lots purchased via on-line bidding.

23. If an asterisk precedes the lot number, VAT will also be payable on the whole hammer price.