A COLLECTABLE MEN'S OMEGA STAINLESS STEEL AUTOMATIC CHRONOGRAPH WITH A TRIPLE CALENDAR. SPEEDMASTER

Terms and Conditions for Buyers

These terms apply to Azca Auctions LTD. 

1. Definition 

In these Terms and Conditions, the words ‘Azca Auctions’ refer to the ‘Auction House’. Similarly, the words ‘we’, ‘us’, etc. refer to ‘Azca Auctions’. The word ‘you’ refers to the ‘Buyer’. 

2. Agency 

As Auctioneers, we typically represent the Seller, whose identity is usually kept confidential. When you make a purchase at an auction, your contract for the purchase of the goods is with the Seller, not with Azca Auctions. 

3. Buyer’s Premium 

The Buyer’s Premium will be charged on each lot at 23% on the hammer price plus VAT on all lots.  

 a. VAT 

Lots marked with a symbol are liable for VAT. The standard VAT rate will apply to both the hammer price and the premium. Marked lots indicate that the Buyer must pay VAT at the standard rate (currently 20%) on the hammer price and the buyer’s premium. Lots without a symbol are VAT exempt. 

 b. VAT Refunds 

Buyers from outside the UK can receive a refund of the VAT charged on the Hammer Price and Buyer's Premium, or included within the Buyer's Premium instead of VAT, provided that the Buyer has: 

1. Registered to bid using an address outside the UK; and 

2. Discussed with us the necessary proof of export and the required timeframes to finalise the export process. 

4. Export of Goods 

Buyers planning to export goods should confirm if an export license is necessary and check for any specific restrictions on importing such goods, such as those containing prohibited materials like ivory. 

5. Estimates 

Estimates are formulated considering market conditions at the time of sale, along with factors like the item's condition, rarity, and quality. They do not provide a guarantee of the value of the item and the final selling price may fall either below or above the estimated range. 

6. Reserves 

Numerous Lots are presented with a reserve price, which is the confidential minimum selling price. The reserve price will never surpass the low estimate listed in the catalogue. Azca Auctions reserve the right to commence the bidding on any Lot below the reserve by making a bid on behalf of the seller and may choose to keep bidding up to the reserve price at their discretion. This can be done by responding to other bidders or by placing successive bids. 

7. Inspection 

Azca Auctions recommends Buyers to examine the Lots they are interested in prior to the sale. 

8. Bidding 

a. In person bidding: bidders must register their bid with Azca Auctions in order to receive a paddle prior to the sale.  

b. Telephone bidding: bidders must contact Azca Auctions to place a telephone bid should they not be able to attend in person. Azca Auctions will not be held responsible over issues relating to connectivity, resulting in the failure of the bidder to obtain their lot.  

c. Commission bidding: bidders must contact Azca Auction prior to the sale and submit their maximum bid in writing.  

d. Proxy bidding: buyers may be able to bid by proxy. A letter of authorization and an ID will be requested by Azca Auctions prior to the sale. 

e. Online bidding: bidders are able to bid online, however, Azca Auctions will not be held responsible over issues relating to connectivity, resulting in the failure of the bidder to obtain their lot.  

 9. Bidding Platforms 

Azca Auctions offers free online bidding on www.azcaauctions.com. The Buyer may also bid on independent bidding platforms, where an additional fee can be imposed (see their terms and conditions for more details). 

10. Proof of Identity and Financial Checks 

As Auctioneers, we are required to carry out various checks on our customers in accordance with Money Laundering Legislation, sanctions legislation, and other relevant regulations. 

Azca Auctions will request proof of identity prior to Buyers registering in the sales.  

Accepted IDs include: 

a. Valid passport or driving licence. 

b. Proof of address. 

c. A telephone number.  

d. A Bank statement or proof of funds may be requested. 

e. Company documents for corporate Buyers.  

11. Ivory and Restricted Materials 

Lots marked with the symbol ‘~’ have been identified during cataloging as containing organic material, which may be subject to import or export restrictions. Azca Auctions commits to fully complying with CITES and DEFRA regulations. Buyers are advised to familiarize themselves with all relevant regulations and should anticipate that arranging the export of items may take some time. Azca Auctions recommends that buyers consult their respective government authorities regarding wildlife import requirements before placing a bid. 

12. Electrical Goods 

These items are sold strictly as 'antiques' or 'decorative' pieces. If purchased for functional use, the Buyer should inspect it for compliance with safety standards by a certified electrician beforehand. 

13. Watches and Clocks 

All Lots are sold as they are described, and the absence of any mention regarding the condition of a clock or watch does not imply that the Lot is in good condition, free of defects, repairs, or restorations. Many clocks and watches have undergone repairs over their lifespan and may now contain non-original parts. Additionally, we do not guarantee that any clock or watch is in working order. 

Due to the intricate mechanisms in clocks and watches, Buyers should note that a general service, battery replacement, or additional repairs, for which the Buyer is solely responsible, may be required. Importantly, the Buyer should be informed that the importation of certain watches like Rolex, Frank Muller, and Corum into the United States faces significant restrictions. These watches cannot be shipped to the USA and must be personally imported. 

14. Wines and Spirits 

In accordance with industry standards, estimates are assumed to have considered the fill level. 

For the purposes of these Terms and Conditions, the term 'Fill Level' refers to the space between the cork base and the liquid in the bottle, which can vary with age or the condition of the wine or spirit. 

Azca Auctions does not guarantee the drinkability of the wine or spirit. Buyers should be aware of the potential for taste alteration due to factors like age, storage conditions, oxidation, and more. 

15. Jewellery  

Numerous gemstones are treated to improve their appearance, a widely embraced practice in the global jewellery industry. While heat-induced colour enhancements are commonly enduring, they might compromise the durability of certain gemstones. Gems treated with oil may necessitate reapplication of oil periodically. In cases where no gemological report is included in the catalog, prospective Buyers should recognize that the gemstones or pearls might have been enhanced in some manner. 

16. Settlement 

The net sum due to the Buyer is typically settled 28 days after the date of the sale via bank transfer or credit card payment. Cash payments over 10,000 GBP and third-party payments will not be accepted.  

Azca Auctions reserves the right to refuse payment should they think that payment doesn’t comply with their anti-money laundering regulations.  

17. Failure to Settle 

In the event that full payment for a Lot is not met in accordance with these Terms and Conditions, Azca Auctions, acting as the Seller's agent and on our own behalf, retains the right to exercise one or more of the following actions at our absolute discretion, without affecting any other rights we may have: 

a. Cancel the sale of that Lot or any other sold Lots to the Buyer; 

b. Offer the Lot for re-sale through auction or privately; 

c. Arrange for the removal, storage, and insurance of the Lot at the Buyer’s cost; 

d. Retain the sold Lot until full payment is received; 

e. Refuse bids from the Buyer in future auctions. 

18. Transfer of Property 

Ownership of the goods will transfer to the Buyer only after Azca Auctions has received full payment for the lots (including applicable taxes, and shipping costs). 

19. Storage 

Storage charges will be incurred if items are not collected within four weeks. These charges will amount to £5 plus VAT per lot for small items, £10 plus VAT for medium items, and £25 plus VAT for large items per day. In addition, there will be an extra transfer charge of £10 plus VAT per lot for large furniture sent to an outside warehouse. If an item remains uncollected two months after the auction date, Azca Auctions reserves the right to sell the item at auction without reserve. From the ‘hammer price,’ Azca Auctions may deduct any amounts owed to them, as well as expenses from all auctions where the item was included, along with storage, loss, and damage warranty charges. 

20. Collections 

Purchased and unsold lots can be collected during Azca Auctions' opening hours. Any delay must be communicated to Azca Auctions in advance.  

21. Shipping 

Azca Auctions will not be responsible for packing, posting or delivering items purchased through an auction, however, a list of suggested shippers will be available for Buyers. 

22. Loss or Damage 

Azca Auctions will not be liable for any loss or damage to frames or glass covering prints, paintings, or other works. Since old frames are frequently fragile and susceptible to deterioration, while Azca Auctions will make every effort to ensure their safekeeping, they will not provide compensation for any loss or damage resulting from changes in humidity or temperature, normal wear and tear, gradual deterioration, inherent defects, or errors in processing. 

23. Data Protection 

The Seller acknowledges that any personal information conveyed to Azca Auctions may be disclosed solely for business purposes to a third party (ie: shippers,) or as mandated by law.  

Azca Auctions will not utilize personal information for any other purpose without the Seller's prior consent. Azca Auctions affirms that personal data provided by any party will never be sold, lent, or traded.  

Should Azca Auctions disclose information with a third party, its responsibility is to respect the privacy and confidentiality of its clients. 

24. Amendments 

The current Terms and Conditions may be amended prior to the sale.