An early 20th Century 18ct hallmarked sapphire and diamond five stone boat shaped ring alternating

Fieldings Auctioneers Limited

Terms and Conditions of Business

The Company provides the services of auctioneers subject to these Conditions (which can only be varied in writing where signed by a director of the Company).

Buyers

1.         These conditions, together with any additional conditions appearing in the catalogue, are the terms and conditions subject to which Fieldings Auctioneers Ltd. (The Auctioneers) as agents for the vendor shall sell goods to the purchaser (The Bidder) and all other conditions, whether express, or implied at common law, or by statute, as are capable of lawful exclusion are hereby excluded. By participating in this sale all vendors and purchasers agree to be bound by these conditions and are deemed to have read and have full knowledge of them.

2.         The highest bidder shall be the buyer at the hammer price except in the case of a dispute. If during the auction the auctioneer considers that a dispute has arisen, he has absolute discretion to settle it or to re-offer the lot.

3.         The Auctioneers have the right to divide any lot, to combine any two or more lots together or to withdraw any lot or lots from sale, regulate the bidding, refuse bids or cancel the sale without giving any notice or reason whatsoever.

4.         The Auctioneers have the right at their discretion to refuse entry to their premises or attendance at their auctions of any person.

5.         Whilst The Auctioneers make every effort to ensure the accuracy of their catalogue and description of any lot they do not accept responsibility regarding authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot. All goods are sold with faults and imperfections and errors of description. If they have been instructed in writing by the vendor to certify a lot, the Auctioneers do so as agents of the vendor and are not themselves responsible for such claims. All statements whether printed in the catalogue or made orally are statements of opinion and are not to be taken as being or implying any warranties or representations of fact. All Bidders should rely on their own judgment as to matters affecting any lot.

6.         The Auctioneer shall only accept bids from the purchasers who have, to the auctioneers’ satisfaction, completed a registration form and obtained a bidding number.

7.            Persons attending the auction site and premises do so at their own risk. Except in respect of death or personal injury caused by the Auctioneers’ negligence, the Auctioneers shall not be responsible for any loss or damage that may occur on the auction site or premises.

8.         The bidder shall pay to the Auctioneer a premium of 24% VAT inclusive* on the hammer price. The Premium is NOT negotiable and is payable by ALL purchasers. Deposits for exceptional lots maybe requested by the auctioneer immediately at the fall of the hammer. The bidder also agrees that the auctioneers may also receive commission from the Vendor in accordance clause 20.

8a.       In accordance with Money Laundering Regulations and the Criminal Justice Act of 1993 Fieldings Auctioneers Ltd will no longer accept single cash payments exceeding £8800.00.

8b.       In accordance with Artists Resale Rights Regulations 2006 all lots marked (3) which sell for €1,000 or more are subject to a resale royalty charge ("Royalty"). This Royalty is payable by the Bidder. The Royalty will be charged at a rate of 4% of the total hammer price (exclusive of Bidder's premium which is payable under clause 8a) for lots selling for amounts up to €50,000. For lots selling in excess of €50,001, the Royalty shall be calculated at a reduced rate (details available on request). The Royalty is not subject to VAT and is payable in sterling calculated on the day of sale at the prevailing rate of exchange. Payment shall be passed directly to the Design and Artists Copyright Society (DACS) 33 Great Sutton Street, LondonEC1V 0DX. For further information please contact the Auctioneers or DACS on 0845 4103410 or visit their website at www.dacs.org.uk

9.         Immediately after a lot is sold the Bidder shall: give to the Auctioneers his name and address, and, if requested, proof of identity; and pay to the Auctioneers, all sums due to the Vendor and the Auctioneers in respect of such lot.

10.       In all cases lots shall remain at the risk of the Vendor save that lots shall be at the sole risk of the Bidder form the fall of the hammer, and such lots shall be taken away with all faults, defects and errors of description, of any nature whatsoever. Neither the Auctioneers, nor their servants or agents shall at any time be responsible for any loss or damage to lots whether caused by negligence or otherwise. No purchaser shall be entitled to remove any lot until he or she has paid for the whole of the lots purchased.

11.       All lots shall be removed ON THE DAY OF THE SALE unless prior arrangement has been agreed with The Auctioneers. Items not collected shall be liable for storage charges at £5 per lot,  per day. Neither the Auctioneers nor any third party shall be responsible for any damage, theft or loss occurring during this period. All items stored by the Auctioneers shall be at the risk of the Bidder.

12.       If the Bidder fails to comply with these conditions, any deposit paid by the Bidder shall be forfeited to the Vendor of the lot, he paying out of it all just expenses of the Auctioneers and the lot shall be resold by public auction or private sale and the deficiency (if any) arising upon the resale together with the expenses of it shall be due as a debt from the Bidder in default upon the first sale.

13.       a) Ownership in each lot shall not pass to the Bidder until full payment has been made (in cleared funds) of all sums due to the Vendor and the Auctioneers pursuant to these Conditions.

b). Until such time as ownership of the lot passes to the Bidder the Vendor and the Auctioneers shall be able to enter onto any premises of the Bidder, or any third party where the goods are being stored and repossess the goods or be entitled at any time to require the Bidder to deliver up the Goods to the Vendor and/or the Auctioneers.

14. Any payments by the Bidder to the Auctioneers may be applied by the Auctioneers towards any sum owing from the Bidder to the Auctioneers, without regard to any directions of the Bidder or his agent, whether express or implied as to how that payment should be applied.

Online Bidding

Fieldings Auctioneers Ltd 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 Fieldings Auctioneers Ltd :

1.                 authorise Fieldings Auctioneers Ltd , 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

2.                 confirm that you are authorised to provide these credit card details to Fieldings Auctioneers Ltd  through www.the-saleroom.com and agree that Fieldings Auctioneers Ltd  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.

Vendors

15.       The vendor warrants to the Auctioneer and to the Bidder that he/she is the true owner of the lot or is properly authorised to sell the lot by the true owner and is able to transfer the goods and marketable title to the lot free from any third party claims, liens or encumbrances.

16.       The Vendor warrants to the Auctioneers and the Bidder that the goods as described and in particular as to the provenance and condition. The Vendor further warrants that any damage or non working parts have been fully declared to the Auctioneers and that the Vendor has provided the Auctioneers with all the information the Vendor has concerning the provenance of the property.

17.       The Auctioneers act throughout as agents only and are not responsible for any default by either the Vendor or the Bidder. The Auctioneers shall not be liable for paying for paying the Vendor until they have received settlement in full (in cleared funds) of all sums due from the Bidder.

18.       A vendor who enters a lot or lots for auction which are an asset of his/her business must disclose to the Auctioneers whether or not they are registered for Value Added Tax, at the current rate.

19.       The vendor shall be entitled to place prior to the sale a reserve on any lot, being the minimum hammer price at which the said lot may be treated as sold. Where a reserve has been placed the auctioneer may bid on behalf of the vendor.

20.       Commission shall be charged at a rate of 18% VAT inclusive* for sale entries, in each case, of the hammer price. Special rates are negotiable for large consignments of items. The Vendor hereby authorizes the Auctioneers to deduct all commission payable from the hammer price and acknowledges the Auctioneers right to retain the premium payable by the Bidder in accordance with clause 8 above. A “sale entry / internet marketing” charge of £5-00 (VAT inclusive) will be applied to all lots, sold or otherwise, on each sale offering. The auctioneers shall remit the proceeds of the sale to the Vendor (subject to the deduction of all sums i.e. commissions and charges, due from the Vendor to the Auctioneers) no later than three weeks after receiving payment in full from the Bidder. In the event of the lots remaining unsold the vendor shall be liable to pay the Auctioneer the above “sale entry / internet marketing” charge on each lot.

21.       The Auctioneers do not undertake the collection of goods but shall however if desired instruct a contractor on the Vendors behalf and at his expense. The Auctioneers shall not be liable for any damage, loss, or unauthorised removal of goods and for any damage to premises by such contractors.

22.       The Auctioneer shall not be liable for any lots delivered to their premises without sale instruction and reserve the right to make a housing charge, this charge is also applicable to lots that have been requested to be collected by the Auctioneers. If not removed within two working weeks the Auctioneers hold the right to sell the items in order to recover any costs incurred by them.

23.       Unless instructed by accompanying written notice, all goods, which the Auctioneers deem to have no saleable value, will be disposed of at the Auctioneers discretion either to a charity or by consignment for destruction.

24.       The Vendor will indemnify the Auctioneers, its servants and agents and the Bidder against any loss or damage suffered by either in consequence of any breach of clause 15 and/ or 16 above or otherwise of these Conditions on the part of the Vendor.

25.       Any sums due, but unpaid, by the Vendor or the Bidder pursuant to these conditions shall carry interest (as well as after judgment) at the rate of 4% above Royal Bank of  Scotland plc base rate from time to time from the due date until payment, such interest to be compounded monthly.

26.            Cataloguing Terms:

All lots marked with an asterisk (*) denote Value Added Tax at the current rate on the hammer price.

The word “style” within a lot description denotes that, in our opinion, the item is a more recent copy of a period item.

“S/D” after a description denotes “slight damage”.

“A/F” after a description denotes “As found”.

“Bears name/signature” in our opinion possibly, but not necessarily, by the hand.

Paintings & Drawings: Catalogue Terms

Forename(s) and surname of the artist ~ in our opinion a work by the artist. (When the artist forename(s) is not known a series of asterisks with of without initials).

Initials of the forename(s) and the surname of the artist ~ in our opinion a work of the period of the artist which maybe in part our totally his work.

Surname of the artist only ~ in our opinion a work in style of the artist, contemporary or nearly contemporary, not necessarily a pupil.

Attributed to ~ in our opinion probably a work by the artist.

Signed ~ in our opinion the signature of the artist.

After ~ in our opinion a copy of the artist.

“Bears name/signature” in our opinion possibly, but not necessarily, by the hand.

General Conditions

27.       The Auctioneers shall be relieved of its contractual obligations to the extent that the performance thereof is prevented, frustrated, impeded or delayed directly or indirectly by or in consequence of any default by the buyer or vendor, statue, regulation or order of any government, council or other authority, riot, public disorder, strike, industrial dispute, lock out or other labour disturbance, storm, flood, explosion or other natural disaster or any other clause beyond the reasonable control of the Auctioneers.

28.        These terms and conditions shall be interpreted in accordance with English Law and any dispute or action that may arise shall be dealt with in accordance with English Law in an English Court.

*VAT payable at the current rate.