Lockdales, The Banknote Sale, Auction #231
One Day Sale: 16th February 2023
At our Premises
52 Barrack Square, Martlesham Heath
Terms & Conditions
A Buyers' Premium of 19.5%+VAT will be added to the hammer price of all lots.
Absentee Bids: Enter the maximum you are prepared to offer for each lot and the auctioneer will represent you. Lots are knocked down at one step above the next highest bid, and not necessarily your highest bid. For example: If your highest bid is £110 and the next highest bid is £80: the hammer price is £85. It is the responsibility of the bidder to check details of bids placed. All bids will be held valid even if placed in error. The auctioneer will not be responsible for mistakes by the purchaser.
Email & Postal Bids: It is entirely the bidders' responsibility to ensure that absentee bids sent via email or post, have been acknowledged by Lockdales. If official confirmation has not been received prior to the commencement of the sale, Lockdales will not be held accountable. Any bids received on the same day of the sale will not be valid unless Lockdales have specifically acknowledged the bids by return confirmation.
Bidding via a third party Auction Platform: Live Online Bidding and Auto-Bids made via third-party platforms Easy-Live Auctions or The-Saleroom.com will incur extra charges (Click here). Any bidding made through these platforms is the at bidder's responsibility and is a contractual agreement between the bidder and the third-party platform. Any problems or issues must therefore be taken up with the relevant auction platform the bidder has registered with. Lockdales are not responsible for errors made.
TELEPHONE BIDS: Telephone lines can be booked if intending to bid on high value items. We do not accept any responsibility for errors made in taking bids by telephone, though every effort is made to ensure accuracy.
ROOM BIDDERS (Room bidding now available by appointment only): Room bidders must register and obtain a bidding number on arrival. If successful in obtaining a lot, please ensure that you display your bidding number clearly to the auctioneer and that it is your number that is called out. If you have any doubt about the price or buyer: please draw this to the auctioneer’s attention immediately. Room bidders may settle their invoices on the day of sale, or within seven days at our offices. You may pay for and collect your purchases at any time during the sale.
AUCTIONEER: The bidding advances shall be regulated by the auctioneer and shall be at his discretion. He has the right to refuse any bids. The auctioneer reserves the right to bid on behalf of clients and vendors, but shall not be liable for errors or omissions in executing instructions to bid. The auctioneer acts as agent only, and shall not be liable for any default of the purchaser or vendor.
ARTIST RESALE RIGHT: May apply to some lots. The buyer pays an additional 4% on the sale price for works of art selling between 1000 to 50,000 Euros (lesser percentages may apply in higher brackets). This is payable to a living artist or to his or her estate in accordance with European directive 2001/84/EC.
RETURNS POLICY: Please inspect thoroughly all lots purchased upon collection or postal receipt. Returns can only be made within 7 days of receipt, with written explanation of the reasons why. Items can only be returned if significantly mis-described, or if proven to be inauthentic when sold as genuine.
The bidder accepts and is in full knowledge that all gold and precious metal items (with or without hallmarks) are thoroughly tested using an XLF analyser (this is the same system used by the UK Assay Office). Non-hallmarked items will be described as 'tests as' followed by the carat, as in the following example, 'tests as 18ct gold' and as such, may not be returned on the basis they are not hallmarked.
Bulk lots cannot be returned. The nature of what constitutes a bulk lot is determined at Lockdales’ discretion. Any lot listed under collections and various or stated to comprise or contain a collection that is under-described shall be put up for sale not subject to rejection and shall be taken by the purchaser with all (if any) faults. Lots offered “as is” or “offered on their merits” may contain items that are not genuine and therefore may not be returned for any reason.
Returned lots will only be accepted if returned in the same condition they were received in.
We do not refund postal charges.
We do not accept any returns on specifically books, clocks, watches or cameras. These items are considered ‘sold as seen’ and should only be bought in full knowledge and acceptance of these terms.
We do not accept any returns on specifically German medals & militaria. These items are considered ‘sold as seen’ and should only be bought in full knowledge and acceptance of these terms.
Sold a/f' = Sold As Found / Sold As Seen items cannot be returned.
We seek to stress by these terms: that the practices and etiquette of sale by auction are different to those relevant to sale by private treaty. Items in our auctions are not sold "on approval". Bidders should be certain of the nature of each lot before bidding.
Condition reports are only a guide. Lockdales does not accept responsibility if an item received by postal or internet purchase does not meet the bidders expectation of overall condition. We advise bidders to view items in person.
ESTIMATED VALUES: The estimated values shown after each lot are the auctioneer’s opinion of what each lot may realise. The price realised may be in excess of this figure, it may also be less than.
PRE-SALE AND DESCRIPTIONS: Statements made by us in auction lot descriptions, and in reply to pre-sale enquiries, regarding authorship, origin, age, size, condition, genuineness, authenticity or value are intended as a guide only. These are statements of opinion and should not be relied on as statements of fact.
The absence of any description of a defect, damage, modification or restoration in any description or report does not imply that there are none. It is the responsibility of the bidder to assess the condition of auction lots prior to bidding.The bidder accepts and is in full knowledge that all gold and precious metal items (with or without hallmarks) are thoroughly tested using an XLF analyser (this is the same system used by the UK Assay Office). Non-hallmarked items will be described as 'tests as' followed by the carat, as in the following example, 'tests as 18ct gold' and as such, may not be returned on the basis they are not hallmarked.
Weights and measurements are only approximate.
Silver items are sold in troy ounces. Weights are measurements are only approximate.
We reserve the right to alter published descriptions of auction lots prior to sale. Such changes may be published on our website, displayed at the auction, announced by the auctioneer prior to the sale and/or communicated in any other manner
OFFENSIVE WEAPONS ACT 2019: If you require us to arrange postage/courier of bladed weapons you will need to provide a copy of photo I.D. (passport/driver’s license) as proof of age (over 18)..
Deactivated Firearms: Please note, under UK Law, you are required to inform the Home Office of possession of a deactivated firearm. Notification of Possession of a deactivated firearm form found HERE
INVOICE & PAYMENT: Successful bidders will be sent/emailed a Pro Forma invoice after the sale with details of payment methods. All invoices must be paid within seven days of the sale or the lot(s) may be deemed in default and any subsequent loss incurred on resale becomes the responsibility of the bidder.
Cash accepted. Cheques made payable to Lockdale Coins Ltd. If you wish to pay by US$ or Euros we accept this in cash form only. Otherwise please negotiate payment with your bank by British Pound Sterling.
Debit cards: (no extra charge for UK debit cards).
We accept credit cards and Paypal for clients outside of Europe only, subject to the relevant surcharges.
Bank Transfer: Successful bidders will be emailed with their Bidder Invoice attached. This will include all the payment options available along with Lockdales' account details for bank transfers. Otherwise please click here for bank details. Please include your name and bidder number when sending instructions to the bank, and inform Lockdales of your decision to pay by Pounds Sterling transfer so that we know to expect it. When paying by Bank Transfer the customer must cover the banking charges.
POSTING OUT: Lots purchased via both absentee/internet bids will be forwarded by the most practical method at the risk of the purchaser. Postage, packing, freight and insurance costs shall be borne by the purchaser.
COLLECTION: Due to the current safety restrictions, collections must be made appointment and all lots collected within 3 weeks of the auction. After this time storage fees may be charged . Otherwise, you are encouraged to make use of Lockdales' secure postal service if possible.
Lockdales reserve the right to communicate with bidders via email for marketing purposes and updates concerning auction transactions, notifications of upcoming auctions, events and announcements. Bidders may opt-out anytime by unsubscribing at the bottom of their email.
By the act of bidding in our auction you therefore agree to these terms and conditions.
Thank you for bidding with Lockdales, auctioneer of coins, collectables, fine art and antiques.