BUYERS PREMIUM 24.5% plus VAT
In-house delivery, postage & packing service available on all lots, please see: www.fineauctions.co.uk
+44 (0) 1904 949 900
INFORMATION FOR BUYERS
TERMS OF CONSIGNMENT FOR SELLERS
CONDITIONS OF SALE
Fine Auctions carries on business with bidders, buyers and all those present in the auction room prior to or in connection with a sale on the following General Conditions and on such other terms, conditions and notices as may be referred to herein.
In these Conditions:
2. BIDDING PROCEDURES AND THE BUYER
(2) Our right to bid on behalf of the seller is expressly reserved up to the amount of any reserve and the right to refuse any bid is also reserved.
Bidding increments shall be at the auctioneer’s sole discretion.
4. THE PURCHASE PRICE
The buyer shall pay the hammer price together with a premium thereon of 24.5% which plus VAT on the premium at the rate imposed by law.
5. VALUE ADDED TAX
Value Added Tax on the hammer price is imposed by law on all items affixed with an asterisk or double asterisk. Value Added Tax is charged at the appropriate rate prevailing by law at the date of sale and is payable by buyers of relevant Lots. (Please refer to "Information for Buyers" for a brief explanation of the VAT position).
(1) Immediately a Lot is sold you will:
(2) Any payments by you to us may be applied by us towards any sums owing from you to us on any account whatever without regard to any directions of you or your agent, whether express or implied.
7. TITLE AND COLLECTION OF PURCHASES
8. REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES
(1) If any Lot is not paid for in full and taken away in accordance with these Conditions or if there is any other breach of these Conditions, we, as agent for the seller and on our own behalf, shall at our absolute discretion and without prejudice to any other rights we may have, be entitled to exercise one or more of the following rights and remedies:
(2) We shall, as agent for the seller and on our own behalf pursue these rights and remedies only so far as is reasonable to make appropriate recovery in respect of breach of these conditions
9. THIRD PARTY LIABILITY
All members of the public on our premises are there at their own risk and must note the lay-out of the accommodation and security arrangements. Accordingly neither the auctioneer nor our employees or agents shall incur liability for death or personal injury (except as required by law by reason of our negligence) or similarly for the safety of the property of persons visiting prior to or at a sale.
10. COMMISSION BIDS
Whilst prospective buyers are strongly advised to attend the auction and are always responsible for any decision to bid for a particular Lot and shall be assumed to have carefully inspected and satisfied themselves as to its condition we will if so instructed clearly and in writing execute bids on their behalf. Neither the auctioneer nor our employees or agents shall be responsible for any failure to do so save where such failure is unreasonable. Where two or more commission bids at the same level are recorded we reserve the right in our absolute discretion to prefer the first bid so made.
11. WARRANTY OF TITLE AND AVAILABILITY
The seller warrants to the auctioneer and you that the seller is the true owner of the property consigned or is properly authorised by the true owner to consign it for sale and is able to transfer good and marketable title to the property free from any third party claims.
The auctioneer normally acts as agent only and disclaims any responsibility for default by sellers or buyers.
13. TERMS OF SALE
The seller acknowledges that Lots are sold subject to the stipulations of these Conditions in their entirety and on the Terms of Consignment as notified to the consignor at the time of the entry of the Lot.
14. DESCRIPTIONS AND CONDITION
(1) Whilst we seek to describe lots accurately, it may be impractical for us to carry out exhaustive due diligence on each lot. Prospective buyers are given ample opportunities to view and inspect before any sale and they (and any independent experts on their behalf) must satisfy themselves as to the accuracy of any description applied to a lot. Prospective buyers also bid on the understanding that, inevitably, representations or statements by us as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price involve matters of opinion. We undertake that any such opinion shall be honestly and reasonably held and accept liability for opinions given negligently or fraudulently. Subject to the foregoing neither we the auctioneer nor our employees or agents nor the seller accept liability for the correctness of such opinions and all conditions and warranties, whether relating to description, condition or quality of lots, express, implied or statutory, are hereby excluded. This Condition is subject to the next following Condition concerning deliberate forgeries and applies save as provided for in paragraph 6 “information to buyers”.
(2) Private treaty sales made under these Conditions are deemed to be sales by auction for purposes of consumer legislation.
Notwithstanding the preceding Condition, any Lot which proves to be a deliberate forgery (as defined) may be returned to us by you within 21 days of the auction provided it is in the same condition as when bought, and is accompanied by particulars identifying it from the relevant catalogue description and a written statement of defects. If we are satisfied from the evidence presented that the Lot is a deliberate forgery we shall refund the money paid by you for the Lot including any buyer's premium provided that (1) if the catalogue description reflected the accepted view of scholars and experts as at the date of sale or (2) you personally are not able to transfer a good and marketable title to us, you shall have no rights under this condition.
The right of return provided by this Condition is additional to any right or remedy provided by law or by these Conditions of Sale.
16. We shall have the right at our discretion, to refuse admission to our premises or attendance at our auctions by any person.
17. (1) any right to compensation for losses liabilities and expenses incurred in respect of and as a result of any breach of these Conditions and any exclusions provided by them shall be available to the seller and/or the auctioneer as appropriate.
(2). Such rights and exclusions shall extend to and be deemed to be for the benefit of employees and agents of the seller and/or the auctioneer who may themselves enforce them.
18. Any notice to any buyer, seller, bidder or viewer may be given by first class mail in which case it shall be deemed to have been received by the addressee 48 hours after posting.
19. Special terms may be used in catalogue descriptions of particular classes of items in which case the descriptions must be interpreted in accordance with any glossary appearing at the commencement of the catalogue.
20. Any indulgence extended to bidders buyers or sellers by us notwithstanding the strict terms of these Conditions or of the Terms of Consignment shall affect the position at the relevant time only and in respect of that particular concession only; in all other respects these Conditions shall be construed as having full force and effect.
21. DROIT DE SUITE royalty charges. From 14th February 2006 all UK art market professionals (which includes but is not limited to auctioneers, dealers, galleries, agents and other intermediaries) are required to collect a royalty payment for all works of art that have been produced by living artists. This payment is only calculated on qualifying works of art which are sold for a hammer price more than the UK sterling equivalent of EURO 1,000- the UK sterling equivalent will fluctuate in line with prevailing exchange rates. It is entirely the responsibility of the buyer to acquaint himself with the precise EURO to UK sterling exchange rate on the day of the sale in this regard and the auctioneer accepts no responsibility whatsoever if the qualifying rate is different to the rate indicated. All items in this catalogue that are marked with DDS are potentially qualifying items and the royalty charge will be applied if the hammer price achieved is more than the UK sterling equivalent of EURO 1,000. The royalty charge will be added to the to all relevant buyers’ invoices and must be paid before items can be cleared. All royalty charges are passed on to the Design and Artists Copyright Society (‘DACS’) no handling costs or additional fees with respect to these charges will be retained by the auctioneers. The royalty charge that will be applied to qualifying items which achieve a hammer price of more than the UK sterling equivalent of EURO 1,000, but less than the UK sterling equivalent of 50,000 is 4%. For qualifying items that sell for more than the UK sterling equivalent of EURO 50,000 a sliding scale of royalty charges apply – for a complete list of royalty charges and threshold levels please see www.dacs.org.uk. There is no VAT payable on this royalty charge.
22. ONLINE BIDDING
Fine 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 Fine Auctions you:
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
23. English law applies to the interpretation of these Conditions.
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