TERMS AND CONDITIONS FOR BUYING AT AUCTION
The Agent: London.Auctions Ltd, hereinafter referred to as the ‘Agent’, is a general auctioneering practitioner who is acting as an authorised sales agent for the owners of items being offered for sale at the auction.
The Catalogue: The Agent has prepared a catalogue to help prospective bidders to identify and examine the items for sale. A copy of the catalogue can be viewed online at londonauctions.co or purchased at the saleroom 30-34 Chiswick High Road, London, W4 1TE. Prospective buyers have the opportunity to inspect the items offered at the saleroom during the viewing days in advance of the auction. Due to the nature of the business - we do not accept any liability or responsibility for errors or ommissions made on the catalogue. We will not expressly describe every aspect of an item and as items are used or secondhand we can not describe all of the items wear or defects. A buyer must fully satisfy themself of the condition and description of any item listed on the catalogue.
Descriptions & Estimates: The descriptions provided in the catalogue and opinions expressed by the Agent before, during or after the sale are based on information provided by the Vendor and the Agent’s own research. While the Agent attempts to provide accurate descriptions of each item there is no guarantee of any expressed or implied attribution and prospective bidders should seek expert advice when necessary, or satisfy themself as to the description and condition of any item purchased.
Condition: It is the responsibility of the Buyer to ensure that he or she has fully inspected the items on offer before submitting a bid. For prospective Buyers who are unable to inspect the items, the Agent offers a condition report service. Although the Agent attempts to check every item for defects, the condition report service is no substitute for physical inspection and the Agent accepts no responsibility for undisclosed damage or imperfections in the items on offer.
Safety Regulations: Electrical goods and soft furnishings are sold as ‘antiques’ and it is the responsibility of the Buyer to ensure they are checked and certified before use.
Registration: All bidders are required to register before they can participate in the auction. Registration forms are available at the reception desk. Registered bidders will be allocated a unique number to protect their identity. Unregistered attendees cannot take part in the bidding process.
Live Bidding: Registered attendees will be entitled to bid on any item offered for sale in the auction. The auctioneer will present each lot in sequence and, where possible, the item(s) for sale will be displayed to the audience on a video screen. The audience (including any telephone bidders) will be invited to bid at levels and increments suggested by the auctioneer until the hammer falls. Bidding intentions must be made clear to the auctioneer, verbally if necessary, and the bidder’s registration number must be provided on request.
Absentee Bidding: For those who are unable to attend the auction in person or by telephone the Agent offers a absentee bidding facility. Absentee bids can be lodged with the Agent up to 2 hours before in person, and 24 hours via our website prior to the scheduled auction start time. Absentee bids can be entered on the Agent’s website, submitted by telephone or hand delivered to the Agent at the viewing session. Prospective buyers who leave Absentee bids are authorising the Agent to bid on their behalf up to their stated maximum. The Agent will obtain the goods for the lowest possible price, subject to competing bids and reserves.
Online Bidding: London 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 London Auctions:
1. authorise London Auctions, 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 London Auctions through www.the-saleroom.com and agree that London Auctions 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 4.95% commission charge + VAT at the rate imposed on the hammer price
Reserves: Some of the lots in the auction will be subject to a Reserve. The Reserve is the minimum price that the Vendor will accept for the Lot. The auctioneer is unable to sell item(s) at a lower price than the Reserve. If a Lot fails to meet the Reserve the auctioneer will indicate this by announcing that there has been ‘No Sale’ before the hammer falls.
Buyer’s Premium: All sold lots attract a buyer’s premium of 22% + VAT. This premium will be added to the hammer price and it will be included on any invoice.
Payment: The Agent accepts three methods of payment – cash, debit card and credit card. Payment must be made on the day of the auction or within two days thereafter. For the avoidance of doubt this will be by close of business on Wednesday of each week. Failure to make payment within this time may result in a cancellation of your sale.
Collection of Lots: The Agent operates a zero tolerance policy on collection of goods purchased at auction. The Agent has limited storage space and thus it is imperative all lots purchased are collected within our agreed terms. All lots purchased at auction must be collected on the day of the auction, failing which the buyer has two business days to collect all purchased lots. For the avoidance of doubt this is by close of business on Wednesday. Failure to collect purchased lots by close of business on Wednesday will result in Storage Charges being applied to purchased lots. In addition The Agent accepts no responsibility for loss or damages for lots not collected within our terms as a result of movement and storage.
Storage Charges: There is a mandatory storage charge for every lot uncollected by close of business each Wednesday. The Storage Charges are as follows:
Small Lots: £5.00 per lot per day + VAT
Large Lots (incl any furniture items): £10.00 per lot per day + VAT
Unclaimed Lots: The Agent reserves the right to sell any lot which remains uncollected 30 days after the Auction to defray the costs of storage and other handling/administrative costs. It is the responsibility of the buyer to make contact regarding purchased lots and to arrange for its collection. We are not responsible for chasing up buyers on purchases made even though we will use our best endeavours to make contact to get items collected. A buyer may still be responsible for charges should we be unable to recoup all charges through the sale of lots.