A buyers premium of 20.5% is applicable to all lots in this sale. This figure is inclusive of the 3% fee raised by the-saleroom.com for use of the timed internet auction platform. The buyers premium is subject to VAT at the standard rate (20%). The lots are being offered for sale under the auctioneers margin scheme and VAT on the buyer's premium is applicable to all buyers. However, If it is instructed to ship a lot outside the European Union the vat will be zeroed.
Collection and Shipping:
The lots are being stored by the consignor at premises in north-west England. On receipt of cleared funds lots, Graham Budd Auctions will release details of the identity of the buyer to the consignor in order that collection or shipping arrangements can be made. The buyer, by prior appointment with the consignor, can collect in person or through an authorised agent directly from the storage premises. Alternatively, the consignor is able to ship a lot the buyer on a worldwide basis. The buyer and consignor would discuss the arrangement and fee directly.
Certificate of Authenticity:
All lots are offered with a Certificate of Authenticity issued by the London Legacy Development Corporation (LLDC) and the Mayor of Newham.
Framing and Presentation Service:
For an additional fee the consignor can offer a framing and presentation service for the sections of track offered at the auction. The buyer and consignor would discuss these requirements directly.
IMPORTANT INFORMATION FOR BIDDERS & BUYERS
Conditions of Business
All lots are offered subject to Graham Budd Auctions Ltd’s (GBA) Conditions of Business.
Estimates and Reserves
Estimates are published as a guide only. The final hammer price maybe higher than the range of figures depending on the level of bidding activity. There are no predetirmined starting prices.The estimates published are exclusive of the auctioneer's buyer's premium and VAT. Lots are subject to reserve prices. The reserve price will under no circumstances exceed the published low estimate.
Buyer’s Premium & VAT
A buyers premium of 17.5% is applicable to all lots in this sale. The buyer's premium is subject to VAT at the standard rate (20%). An additional 3% + VAT will be added to the invoice total when successfully bidding via the-saleroom.com. Therfore the aggregate buyer's premium will be 20.5%.
The lots will not be available for viewing prior the the auction.
This is a timed internet auction and all bidding will be conducted by registtarion and submission at the-saleroom.com. There are no alternative bidding methods available.
In completing the bidder registration at the-saleroom.com you will be required to provide card details and you will be authorising Graham Budd Auctions to charge your card should you be the successful bidder. However, it is possible to discuss alternative methods of payment directly with the auctioneer upon receipt of the invoice.
Payment is due in sterling immediately after the sale and before purchases can be released.
Methods of Payment
Graham Budd Auctions Ltd welcome the following Methods of Payment:
Our bank details are:
Barclays Bank plc
Sort Code: 20-71-74
Account Name: Graham Budd Auctions Ltd
We are pleased to accept major credit cards (including American Express) for which a surcharge will be made of 3% of the transaction total. This is to cover the charge made to us by our bank. There is no charge for payments made by debit card.
Sterling Bankers Draft or Building Society Sterling Cheque
Drawn on a recognised UK bank or building society. Please note that the auctioneer requires seven days to clear sterling cheques and we always reserve the right to hold goods until a cheque is cleared.
Cash payments will be accepted up to a maximum of £6,000.
Paypal payments can be made to firstname.lastname@example.org. Please contact the auctioneer so that the 3.4% Paypal charge can be added to the invoice total.
Remedies for non-payment
Without prejudice to any rights that the seller may have, if the buyer fails to make payment for the lot, GBA may in its sole discretion exercise one or more of the following remedies:-
(a) cancel the sale of the lot;
(b) charge interest at 4% per annum above The Bank of England’s Base Rate from the payment date to the date that the purchase price is received in cleared funds;
(c) re-sell the lot by auction or privately, with the new sale price at GBA’s discretion, in which case the buyer will be liable for any shortfall between the original purchase price and the amount achieved on re-sale;
(d) commence legal proceedings to recover the purchase price for the lot, plus interest and legal costs;
(e) disclose the Buyer’s details to the seller to enable the seller to commence legal proceedings.
GBA will use information supplied by bidders or otherwise obtained lawfully by GBA for the provision of auction related services, client administration, marketing and as otherwise required by law. By agreeing to these Conditions of Business, the bidder agrees to the processing of their personal information and to the disclosure of such information to third parties world-wide for the purposes outlined in the above service provisions, and to the seller solely in the event on non-payment.
a) All images of lots, catalogue descriptions and all other materials produced by GBA are the copyright of GBA.
b) These Conditions of Business shall be interpreted in accordance with English Law, under the exclusive jurisdiction of the English Courts, in favour of GBA.