Silver Modernist Bangle Bracelet

Terms of Business

GENERAL

1. 1.       ALBINUS reserves the right, at its discretion, to refuse admission to its premises or attendance at its auctions to anybody.
2. 2.       Every person on the auctioneer’s premises, at any time, shall be deemed to be there at his or her own risk. They shall have no claim against ALBINUS in respect of any accident which may result to injury, damage or loss howsoever caused, save insofar as the injury, damage or loss shall be caused by the direct negligence of ALBINUS employees.
3. English law and jurisdiction apply to the interpretation of the Terms of Business.  
4. Catalogue descriptions and comparable statements as may appear on our website or other bidding platforms are formed, foremost, in basis of the vendor’s description together with the opinion of our category expert(s). These opinions and estimates ascribed to them serve to aid the buyer gauge the sum involved to acquire the object; they are purely subjective and in no way factual.
5. All lots are sold as seen and may not detail all imperfections, especially minor ones. Absence of a comprehensive description does not imply that the lot is in good condition or untouched from restoration/repair. Notwithstanding this exclusion of liability, ALBINUS will generally not accept items for sale which are in poor condition or deemed to be of insignificant value. 
6. Vendor Fees are 9.95% – a standard £5 charge applies for those unsold or withdrawn (the latter 15% of the lower estimate) to cover listing and administrative cost. Buyers must pay a premium of 14.95% + VAT if chargeable. Payments are settled to our vendors 14 days following the sale, subject to buyers having paid.
7. These Terms of Business may be revised at any time as subtle changes are made; we will usually email you a notification, although you are expected to check these pages and our website www.albinus.bid from time to time.

BUYERS’ INFORMATION – TERMS OF SALE

1. 1.       Interpretation. In these terms the words ‘you’, ‘your’, ‘yourself’, or like pronouns, refer to the buyer. Similarly, those words ‘our’, ‘we’, ‘auctioneer’ refer to ALBINUS, trading as ALBINUS LTD, its employees or designated contractor, i.e. sole agent and not an additional principal.

1. 2.       Introduction. The following notes are intended to assist bidders, i.e. buyers, particularly those who are inexperienced or new to our saleroom.  ALBINUS’ Conditions of Business outlined herein govern all auctions, former and future transactions, incorporating the Terms of Consignment (applicable to sellers) and Terms of Sale (applicable to bidders/buyers). By making use of our services you acknowledge having read, understood and agreed to abide by each of our policies; further notices may be publicised in our saleroom or announced by the auctioneer. A printed copy of our full Terms of Business can be requested in person and supplements our catalogues. Our staff shall be ready to particularise on any point you do not fully comprehend.

1. 3.       Payment Method. Payments must be executed as soon as possible and no later than 7 days following the auction end. A bank transfer is the generally accepted and preferred method of payment, our details are as follows:

Account name: THE RAYMAN ORGANISATION

Sort code: 309626

Account number: 57018760

SWIFT: LOYDGB21446

IBAN: GB04LOYD30962657018760

Although we also accept cash (limited to the equivalent of €10,000 in accordance with Money Laundering Regulations), debit/credit cards and cheques. For international transfers, please ensure you have covered bank charges. Other payment alternatives should be discussed prior to bidding. The equivalent of the amount invoiced will have to be fully cleared in British sterling currency before any goods are removed from our premises and ownership passed on to you. In line with legislation, we reserve the right to investigate the source of funds received by us – particularly concerning high-value lots –, postpone or rescind a sale at our own discretion if we suspect the lot to be unlawful or to be detrimental to the reputation of either vendor or ALBINUS. Other protective measures may be taken against either party for infringement, fraudulent activity or otherwise improper conduct.

1. 4.       Shipping. ALBINUS offers its very own in-house mailing and distribution service, inclusive of insurance. For exceptional high-value or bulky lots, it may choose to appoint the assistance of a trusted private agent. The buyer has the option to have the item shipped directly (combined packaging is offered where appropriate) to their registered address or collect in person. If shipping is preferred, the total cost will be added to your initial purchases invoice and your item will be dispatched within 3 days of payment. We take great care in ensuring the object you buy from us arrives in the condition stated, and for this reason we will only ship tracked with UPS, DHL, TNT, FedEx or Royal Mail Special Delivery. The total shipping cost includes the actual postal service charge (inclusive of insurance to the total of your invoice), cost of packaging materials, labour cost. ALBINUS assumes no personal liability in the event of loss or damage, but will handle any claim with the postal service used. It offers no warranty that this claim will be accepted.

1. 5.       Collection and Storage. If the buyer decides to collect in person,won lots should be collected as soon as possible upon receipt of payment. They will be held free of charge for 7 days by the auction – at the buyer’s risk. Further delay will cause the buyer to incur daily storage charges of £2.95 per lot (plus VAT). A third-party courier may be organised by you, in which case you waive any liability by ALBINUS and willingly assume risk of theft/damage/loss once the item(s) is collected. The buyer’s agent will be asked to present identification upon collection, along with their vehicle’s registration number. Following six months of failure to collect, the lot(s) will be resold by the auctioneer without any refund or further notice to the buyer.

1. 6.       Default. Payment (i.e. the entirety of the invoice including buyer’s premium + VAT) must be paid within 7 days so that we may pay out our vendors punctually. ALBINUS disclaims responsibility for default by either buyer or vendor as it acts only as agent between both parties. Payments to vendors cannot be issued until they are received from the buyer. If following 7 days from the sale payment still has not been received, the auctioneer will inform the vendor and may at his discretion assume any of the following course of action:

1. Exercise a lien on any property of the buyer in ALBINUS’ possession until goods are paid fully.
2. Issue legal proceedings against the buyer for breach of contract, comprising damages that might have been incurred to either the auctioneer, the vendor, or both.
3. Rescind the sale of the lot, keeping any non-refundable deposit, and resell the goods by auction of choice, private treaty, or any other means.
4. Reject or disregard any bids placed by the defaulting buyer in any future sale, lest a deposit of at least 50% of the envisaged amount is cleared. ALBINUS reserves the auctioneer’s right to permanently terminate a defaulting buyer’s registration, which will be disclosed to other auctioneers. 
5. Retain any lot won by the buyer in any current or former auction with ALBINUS until receipt of payment.
6. Defaulting buyer authorises ALBINUS, after 7 days of non-payment, to charge their credit card recorded on any of its operating auction platforms.
7. Remove, store and insure the lot at the buyer’s cost.
8. Charge the defaulting buyer all the charges and expenses of the re-sale (including but not limited to) any commissions for the rescinded sale which remain unpaid and the deficiency (if any) between the hammer price of the initial sale and that of the rescinded sale. 

1. 7.       Liability. As an auctioneer, we contract as agent for the seller whose identity, for reasons of confidentiality, cannot be disclosed without their written consent. As such, any contract for goods is between yourself (the buyer) and the seller. Statements which can be found in the catalogue such as authenticity, attribution, period, authorship, date, or those relating to the quality of a lot where imperfections might not always be stated should not be taken as factual. Neither ALBINUS, its employees nor the vendor offers any warranty on the aforementioned aspects. Only if a lot is proven to have been misdescribed as a “deliberate forgery” (you will have to supply us with a satisfying written document from a recognised specialist) may it be returned to us in the condition bought and fully refunded. This includes the written documentation, the reasonable cost of which we will bill the vendor; we allow a period of 21 days for this to be done from the sale date.

1. 8.       Buyer Responsibility. ALBINUS is liable for any object only till the fall of the hammer and conclusion of sale, whereupon the purchaser shall remove the goods at their own risk of loss or damage. Any liability there may be on part of the auctioneer or their employees prior to the fall of the hammer, such as loss or breakage, is restricted to the maximum of the amount paid by the buyer.

1. 9.       Estimates. Estimates are designed to help our buyers evaluate the sum which might be involved in acquiring a certain lot. Our experts’ appraisals are subjectively founded on factors such as an object’s condition, rarity, age, brand, artist, provenance, and concluded prices of similar archived objects. An estimate by no means determines the precise sale figure/value of an item as it is often dependent on theoretical factors e.g. “luck” or sentimental worth. Estimates may be subject to announced – written or verbal – alteration prior to a sale; the lower might represent the reserve price (the minimum price the seller is prepared to sell their object for) but will not be below it. Estimates exclude the buyer’s premium and VAT (where chargeable).

1. 10.   Buyer’s Premium. As per ALBINUS’ Terms of Sale, a 14.95% buyer’s premium is added to each lot and payable on the fall of the hammer. Additionally, VAT at 20% is charged on the premium. Lots purchased through the services of ATG Media (www.the-saleroom.com) are subject to a further fee of 4.95% – this amount is collected by us on behalf of the platform. This latter fee varies based on the bidding platform, such as Liveauctioneers and Invaluable.

1. 11.   VAT. Objects in our catalogue may be marked with an alpha (α) symbol to indicate that VAT is payable by the buyer on the hammer price and the buyer’s premium at either the current standard rate (20%) or a reduced rate (5% [Ω]), depending upon the legal requirements relating to the specific lot. Lots which appear without either symbol signify that no VAT is chargeable on the hammer price, because they are sold using the Auctioneers' Margin Scheme. VAT included within the premium is not recoverable as input tax.

1. 12.   Ivory & Cites Regulations. At ALBINUS we strive to support and remain in compliance with CITES (the Convention on International Trade in Endangered Species of Wild Fauna and Flora) regulations. Such items as ivory, taxidermy and antique furniture made of tropical woods like rosewood may be sold if they accompany a CITES certificate; criteria for obtaining one can vary depending on species or export destination. Not all these items require a CITES license, however, for example portrait miniatures made prior to 1918 or objects consisting of less than 10% ivory and made before 1947. Lots marked with the symbol π could be exposed to CITES Regulations when exporting. Extra information can be found here: https://www.gov.uk/guidance/cites-controls-import-and-export-of-protected-species.

1. 13.   Jewellery. Gemstones are often treated to enhance their appearance.Sapphires and rubies are routinely heat-treated to improve their colour and clarity; likewise, emeralds are frequently treated with oils or resin for the same purpose. Other treatments such as staining, irradiation or coating may have been used on other gemstones. These treatments may be permanent whilst others may need special care or re-treatment over the years to retain their appearance. Estimates reflect the possibility that gemstones may have been subjected to such treatments unless they are accompanied by a recognised laboratory certificate such as GIA. If mentioned, the carat weight of a gemstone is approximate only, particularly if this stone is mounted. Reference in the title to the period or designer (e.g. Art Deco, Cartier), whether signed or unsigned, and based on similar models, is the auctioneer’s honest opinion.

1. 14.   Artist’s Resale Right/Droit De Suite. Lots marked with a (β) symbol are potentially subject to a levy. “Droit de Suite” is a royalty payable to a qualifying artist or the artist's heirs each time a work is resold during the artist's lifetime and up to a period of 70 years after the artist's death. Royalties are calculated on a sliding percentage scale based on the hammer price excluding the buyer's premium. The royalty does not apply to lots selling below the sterling equivalent of €1,000 and the maximum royalty payable on any single lot is the sterling equivalent of €10,000. Droit de Suite, which is not subject to VAT, will be added to the buyer's purchase price and then passed on to the relevant collecting agency. Please enquire for the accepted exchange rate on the day of the sale. Royalties for Droit de Suite are as follows:

4% Up to €50,000
3% €50,000.01 - 200,000
1% €200,000.01 - 350,000
0.5% €350,000.01 - 500,000
0.25% In excess of €500,000
Up to a maximum levy of €10,000

For all questions relating to the regulations of Droit de Suite royalty charges, please see: www.dacs.org.uk, telephone +44 (0)845 410 3410, or email arr@dacs.org.uk. 

1. 15.   Firearms. Lots marked with an ∑ symbol are subject to the UK firearms/shotgun licensing regime, and may only be viewed and/or purchased by individuals with appropriate licences. Such lots are offered on an auctioneers' permit and must be collected prior to the expiry thereof, and upon producing evidence of compliance with all UK firearms regulations.

1. 16.   Inspection of Goods. As the agent between buyer and seller, we rely primarily on the information provided to us by the seller regarding the overall condition of goods they wish to sell. Although we will personally inspect an object, the description we provide for it is general only as opposed to a more thorough, detailed examination. For this reason, we strongly recommend our buyers to view the item in person on our viewing day, this in order to minimise disappointment or dispute following the sale. Antique and vintage items will typically demonstrate mild signs of wear and tear commensurate age, thus are not to be considered new or in excellent condition. Prior to the day of the sale, a condition report can be requested from us by email, where we shall aim to provide a more elaborate description with added photographs if necessary based solely on the expert’s opinion. This opinion is intended for guidance only – please note judiciously that neither ALBINUS, as auctioneer, nor the seller, accept any responsibility for its complete accuracy or lack thereof.

1. 17.   Photography. We endeavour to showcase each item as clearly as we can with the purpose of giving you the most truthful impression. Our advanced macro photography is intended to compensate for any errors or shortage of information in the description, revealing flaws that might have passed unnoticed by the seller. Some photographs, mainly jewellery and miniature items, may appear enlarged (for example to reveal the inclusions in a diamond ring which would be difficult to see with the naked eye). All photographs and illustrations are the intellectual property rights of ALBINUS or its licensors and cannot be used in any way other than fair usage unless permission by the auctioneer is granted. The auctioneer maintains absolute control over how it desires to use/reuse its photographs, prior or post sale, for elements of marketing through social media, including its own website, printing catalogues, press release. Intellectual property includes without limitation the company’s photos, audio-visual material, logo, texts, images, design, software, database, etc.

1. 18.   Electrical & Mechanical Goods. These are sold as “antiques” and therefore may or may not be functioning. If intended for usage, you must have them verified by a qualified electrician to ensure they comply with safety regulations. Clocks, automatons and watches, primarily those which fall into the antique or vintage age bracket, are likely to have been repaired and may have had some parts replaced or missing. Though such a lot might apparently be in full or partial working condition on inspection, its accuracy and functionality should be considered unreliable post-sale. 

1. 19.   Exportation. Buyers intending to export goods must establish whether: 1) an export license is essential and 2) whether the nature of the goods in question are prohibited, such as one that might contain ivory. It is the buyer’s responsibility to research whether any import duties are chargeable, and if so this charge is exclusively imposed onto them.   

1. 20.   Bidding. All bids are legally-binding and cannot be retracted.Bidders must register before the commencement of each auction. If bidding for the first time with us, a form of identification such as a driving license or passport will be asked, supplementary to other relevant info we may need. Commission bids must be arranged with us at least one hour before the commencement of the auction, so that we have ample time to conduct any necessary checks. All present and future lots will be invoiced to the name and address you use to create your account – we will not ship to a secondary address unless a formal request is made by writing, electronically or by post. ALBINUS reserves the right, at the auctioneer’s discretion, to refuse your registration if you haven’t provided us with all the documentation we ask, particularly when you are a first-time bidder anticipating bidding on high-value objects. If a dispute arises during an auction, it is at the auctioneer’s discretion to resolve it or re-offer the lot in a future sale. By this same discretion, the auctioneer can regulate bidding activity (it is forbidden for vendors to bid on their own items or those of someone connected to them), cancel a sale, withdraw, combine or divide two or more lots, bid on the vendor’s behalf conditional to the reserve.  

1. 21.  Commission/Absentee Bidding. You may wish to leave an absentee bid with the auctioneer if you are unable to bid for yourself on the certain date or time of the auction. Providing the maximum amount you’re ready to pay (non-inclusive of buyer’s premium or chargeable VAT) is received at least one hour before the start of the sale (any later is not guaranteed), the auctioneer shall bid on your behalf. The bids will be placed as economically as feasible, in consideration towards the reserve (if any) and competing bids. If two identical bids are placed, the auctioneer may prefer the first bid received, where this can be ascertained.

1. 22.  Telephone Bidding. We offer telephone bidding as a live alternative, but only for higher-value lots with a lower estimate of £250 or over. International bidders are also welcomed to bid in this way, but as we have limited lines telephone bidding must be booked at least 24 hours prior to the sale by email notice (see contact info). While we shall do our best to accommodate your telephone request as efficiently as possible, we cannot be held liable if, for whatever mischance, your bids are missed. 

1. 23.  Live Bidding. You must register for the auction which you wish to participate in on the conduit you want to use (note each conduit has its own different fee). A current breakdown of additional cost is detailed below:

easyliveauction.com – 3.00% (+ VAT) on the hammer price of all lots purchased or a flat fee of £3.00 is taken by Easylive. Note: This fee will be taken regardless of whether you bid on or purchase lots.

the-saleroom.com – 4.95% (+ VAT)

Invaluable.com – 5% (+ VAT)                                                                                                                                         

Liveauctioneers.com – 5% (+ VAT)

1. 24.   Increments. Bidding increments shall be at the auctioneer’s sole discretion.

TERMS OF CONSIGNMENT (VENDORS)

1. 1.       Interpretation. In these terms the words ‘you’, ‘your’, ‘yourself’, or like pronouns, refer to the vendor, i.e. principal to the contract of sale. Similarly, those words ‘our’, ‘we’, ‘auctioneer’ refer to ALBINUS, its employees or designated contractor, i.e. sole agent and not an additional principal.

1. 2.       Vendor Fees. Our vendors benefit from ALBINUS’ competitive 9.95% vendor fee, which contribute for such services as photography, storing, cataloguing, marketing, standard valuation, listing across several platforms, packaging, posting, communicating with the buyer and resolving disputes if they arise. As the agent, ALBINUS aims to accomplish each sale as smoothly as possible. If a lot is unsold, either because it failed on that occasion to attract enough interest or the reserve was not met, will the vendor be charged a £5 fee to cover listing and administrative cost. This rule applies per unsold lot.

1. 3.       Reserves. All lots consigned to the auctioneer by the vendor will be sold without reserve price (the minimum hammer price the vendor will accept for the lot to be sold) unless specifically mentioned and agreed in the contract form. The auctioneer may at his own discretion place bids on behalf of the vendor up to an amount not equalling or exceeding the reserve. It is the vendor’s responsibility to ensure that, in writing, the auctioneer has received their instructions for placing a reserve. The reserve price must be fair in respect to other similar archived lots and be of a minimum value of £100, or a value which we consider to be worth at least this price; the auctioneer retains right to refuse lots with reserves it considers too high or unlikely to be sold. Once a reserve price is confirmed in writing, it cannot be amended without our approval. Reserves may still be placed by vendors if written notice is received by the auctioneer and agreed upon at least 24 hours prior to the inauguration of the sale. The vendor has the option to permit the auctioneer “discretion” or “broad discretion” to authorise a bid for the lot of up to 10% or 50% below the official reserve. Unsold reserves will incur a listing fee of £5 and will automatically be reoffered at a 10% decrease in the soonest relevant auction.

1. 4.       Deliberate forgery. As the operating agent, ALBINUS has the duty to act in the finest interest of both parties, i.e. vendor and buyer. Where deliberate forgery or a comparable act of fraud is found to have been committed by you or on your behalf, the auctioneer shall be indemnified against any claim pertaining to the lot(s) that were deceptively sold to the buyer. We will act in what we consider to be the most reasonable and effective manner to reimburse the buyer a sum no greater than the hammer price. Carefully note that the term “no greater” is unrelated to reasonable damages or costs sustained as a direct consequence, such as the bill for a specialist’s authentication service or other proof test; these supplementary costs will be added to the original hammer price and in turn “repurchased” from us by yourself. Subsequently, ALBINUS will determine, at its own judgement, any of the following course of action for your breach of policy:

• Temporary or indefinite termination of your association with ALBINUS, to you or affiliated members; other auction houses will be notified
• Further legal action
• Issue you with a formal warning
• Disclosure of deliberate forgery or act of fraud committed to law enforcement authorities

1. 5.       Interpretation. As the sole agent between buyer and seller, the auctioneer and his employees rely primarily on the information provided by the seller regarding the overall condition of the good(s) they wish to sell. For us to provide the best customer experience, they are responsible for ensuring that, to the greatest of their knowledge, the descriptions they provide are detailed, accurate, honest, authentic and in no way misleading. They must be the rightful or authorised owner of the lot and mustn’t infringe the rights of others, such as copyright/trademark rights in using photographs and material other than their own; the details they use to register must be truthful of their personal identity. Alongside this responsibility, vendors sending items which have been approved for sale on our website by post or other means are wholly responsible in ensuring their lot(s) arrives to us securely. ALBINUS will not be held liable for any loss or damage caused in the process; the auctioneer’s liability for the vendor’s lot(s) comes to effect from the moment it exchanges hands for storing and cataloguing right up until the conclusion of the sale, which is to say collection. You grant ALBINUS an irrevocable free, non-exclusive license to your user material – for example photos submitted through our website; this user material remains totally your intellectual property rights, although we can (mainly for promotional objectives) publicise, reproduce and permanently archive it for any purpose which might improve our business performance. Subject to the above and unendingly, submissions must comply with UK or foreign statute, wherever they are dispatched from, and strictly cannot:

• Be defamatory to any person or business
• Promote violence, obscenity, racism or hate (this may not include historical items such as militaria)
• Be likely to mislead
• Be of a discriminatory nature to anyone
• Infringe any intellectual property rights of anyone
• Promote illegal activity
• Be in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
• Be offending, threatening or impersonating anyone

You agree to be bound by all these conditions and indemnify, protect and hold unaccountable ALBINUS – as well as its holding company, subsidiaries, affiliates, partners, officers, directors, agents, contractors, licensors, service providers, subcontractors, suppliers, interns and employees – from any claim or dispute occurring as a direct consequence of your negligence.

1. 6.       Settlement. Proceeds are paid directly to the vendor 14 daysafter the sale,provided that the buyer has paid us the full amount. We will always try our best to collect payment from buyers, but this is not always possible. Defaulted lots will be automatically reoffered in our

earliest relevant sale and the vendor made aware.

1. 7.       Instructions. As our primary role is as auctioneer, all goods delivered to our premises shall be deemed delivered with the intention to be sold, unless otherwise expressed in writing; the auctioneer has full right to combine or divide any lots. Lots withdrawn by the vendor (at an applied charge of 15% of the lower estimate) or those which remain unsold after being entered twice in our sale are due for immediate collection by the vendor, or we can post the lot to them back at their expense and liability. If after 7 days of us issuing notice for collection the lot remains uncollected or the buyer unresponsive, we shall either store the item at a daily charge of £4 per lot or, depending on our own discretion, sell or dispose of it at a reasonable charge to a charity or by consignment of destruction.

1. 8.       Insurance. Unless otherwise instructed in writing, all goods on ALBINUS’ premises and in its custody will be held insured against the risks of fire, theft following forcible entry and water damage, but not against damage caused by humidity or temperature changes, inherent conditions or defects, error in processing, war, nuclear radiation or radioactive contamination. The value of the goods so covered shall be the gross amount realised, or in the case of unsold lots the minimum estimate; in the absence of an estimate, or in the case of goods withdrawn prior to sale, the expert consultants of ALBINUS shall in their absolute discretion estimate the auction value of such goods.