THE MACALLAN 1988 - MACKILLOP'S CHOICE matured in a single sherry cask, bottled in 2007 at cask

CONDITIONS OF SALE FOR BUYERS
The Auctioneer 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.

1. DEFINITIONS
In these Conditions of Sale (Buyers): “Auctioneer” means Lyon and Turnbull Ltd (Registered in Scotland No: 191166 | Registered address: 33 Broughton Place, Edinburgh, EH1 3RR) or its authorised auctioneer, as appropriate;
“Hammer price” means the level of bidding reached (at or above any reserve) when the Auctioneer brings down the hammer;
“High Cumulative Value of Lot” means several lots with a total lower estimate value of £30,000 or above;
“High Value Lot” means a lot with a lower estimate of £30,000 or above;
“Lot” means each Item offered for sale by Lyon and Turnbull;
“Purchase Price” is the Hammer Price and applicable Buyer’s Premium;
“Reserve” means the lowest price below which an item cannot be sold;
“Total amount due” means the hammer price in respect of the lot sold together with any premium, Value Added Tax or other taxes chargeable and any additional charges payable by a defaulting Buyer under these Conditions;
“You”, “Your” means the Buyer;
“Us”, “Our”, “We” etc. refers to Lyon and Turnbull Ltd, The singular includes the plural and vice versa as appropriate.

2. AGENCY
We act as agent solely for and in the interests of the Seller. We do not act for Buyers in this role and do not give advice to Buyers. When we make a statement about a lot it is doing so on behalf of the Seller of the lot.

The Auctioneer normally acts as agent only and disclaims any responsibility for default by Sellers or Buyers.

3. BIDDING PROCEDURES AND THE BUYER
(a) Bidders are required to register their particulars before bidding and to satisfy any security and credit references or arrangements before entering the auction room to view or bid. We reserve the right to ask buyers for identification to prevent fraud, underage purchases and/or any other legal or legitimate purpose.

(b) High Value Lots and High Cumulative Value of Lots: If you wish to bid on any High Value Lot (a lot with a lower estimate of £30,000 or above) or if you are bidding on several lots with a total lower estimate value of £30,000 or above, you are invited to complete the High Value Lot pre-registration. After you have successfully registered as a bidder with us, you should complete the High Value Lot pre-registration before the date of sale by contacting the Office Manager or on the date of sale at the registration area. Unless otherwise agreed by us, you will be permitted to bid for High Value Lots only if we have confirmed your payment of deposit and your completion of the High Value Lot pre-registration before the sale. The Deposit required will be 10% of the lower estimate. Upon pre-registration, you should pay the deposit or such other sum as determined by us dependant on circumstances, by way of bank transfer or credit card(s) acceptable to us. Please note that we do not accept payment from third parties and this also applies to agents.

If you are not successful in any bid and do not owe us any debt, the deposit will be refunded to you by way of wire transfer or such other methods as determined by us. Please make sure that you provide your bank details in the pre-registration form. The exchange rate provided to us by the bank on the date of exchange is final. We will arrange to refund the deposit to you within seven days after the date of sale, however we do not guarantee when you will receive the payment due to the variance in time for banks to process fund transfers.

Upon successful pre-registration, you will be given a numbered High Value Lot paddle for identification purposes. The auctioneer will usually only accept bids made with the High Value Lot paddle or by its High Value Lot registered bidder. This applies to saleroom, telephone and absentee bids.

We have the right to change the High Value Lot pre-registration procedures and requirements from time to time without notice.

(c) The maker of the highest bid accepted by the Auctioneer conducting the sale shall be the Buyer and any dispute shall be settled at the Auctioneer’s absolute discretion.

(d) Our right to bid on behalf of Sellers is expressly reserved up to the amount of any reserve.

(e) The right to refuse any bid is also reserved.

(f) Commission Bids: While 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 shall, if so instructed, clearly and in writing execute bids on their behalf. Neither the Auctioneer nor our employees nor agents shall be responsible for any failure to do so. 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.

(g) Telephone Bids: If a prospective Buyer makes arrangements with us prior to the commencement of the sale we will use reasonable efforts to contact them to enable them to participate in bidding by telephone. We do not accept liability for failure to do so or for errors and omissions in connections.

(h) Online Bidding: We will use reasonable efforts to carry out online bids and do not accept liability for equipment failure, inability to access the internet or software malfunctions related to execution of online bids/ live bidding.

4. INCREMENTS
Bidding increments shall be at the Auctioneer's sole discretion.

5. THE PURCHASE PRICE
For each lot purchased a Buyer's Premium of 25% of the hammer price of each lot up to and including £100,000, plus 20% from £100,001 thereafter (with the exception of Whisky & Spirits, see below) VAT at the appropriate rate is charged on the Buyer's Premium.

Auctions of Whisky & Spirits will be subject to a different Buyer's Premium of 15% on the hammer price of each lot. VAT at the appropriate rate is charged on the Buyer's Premium.

No VAT is payable on the hammer price or premium for printed books or unframed maps bought at auction.

Live online bidding may be subject to an additional premium (level dependent on the live bidding service provider chosen). This additional premium is subject to VAT at the appropriate rate as above.

6. RESERVES
Unless indicated by a insert symbol (⏀), all lots are offered subject to a reserve. A reserve is the confidential hammer price established between us and the seller. The reserve is generally set at a percentage of the low estimate and will not exceed the low estimate for the lot.

7. VALUE ADDED TAX
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.

(1) Lots affixed with (†): Value Added Tax on the hammer price is imposed by law on all items affixed with a dagger (†). This imposition of VAT maybe because the Seller is registered for VAT within the European Union and is not operating under a Margin Scheme.
(2) Lots affixed with (*): A reduced rate of Value Added Tax on the hammer price of 5% is payable. This indicates that a lot has been imported from outwith the European Union. This reduced rate is applicable to Antique items.
(3) Lots affixed with [Ω]: Standard rate of Value Added Tax on the hammer price and premium is payable. This applies to items that have been imported from outwith the European Union and do not fall within the reduced rate category outlined above.

8. DROIT de SUITE
This symbol § indicates works which may be subject to the Droit de Suite or Artist's Resale Right, which took effect in the United Kingdom on 14th February 2006. We are required to collect a royalty payment for all qualifying works of art. Under new legislation which came into effect on 1st January 2012 this applies to living artists and artists who have died in the last 70 years. This royalty will be charged to the Buyer on the hammer price and in addition to the Buyer’s premium. It will not apply to works where the hammer price is less than €1,000 (euros). The charge for works of art sold at and above €1,000 (euros) and below €50,000 (euros) is 4%. For items selling above €50,000 (euros), charges are calculated on a sliding scale. All royalty charges are paid to the Design and Artists Copyright Society (‘DACS’) and no handling costs or additional fees are retained by the auctioneer. Resale royalties are not subject to VAT. Please note that the royalty payment is calculated on the rate of exchange at the European Central Bank on the date of the sale. More information on Droit de Suite is available at www.dacs.org.uk.

9. PAYMENT
(1) Within 7 days of a lot being sold you will:
(a) Pay to us the total amount due in cash or by such other method as is agreed by us. We accept cash, bank transfer (details on request), debit cards and Visa or MasterCard credit cards.

(b) Please note that we do not accept cash payments over £5,000.

(2) Any payments by you to us may be applied by us towards any sums owing by you to us howsoever incurred and without agreement by you or your agent, whether express or implied.

10. TITLE AND COLLECTION OF PURCHASES
(1) The ownership of any lots purchased shall not pass to you until you have made payment in full to us of the total amount due.

(2) You shall at your own risk and expense take away any lots that you have purchased and paid for not later than 7 working days following the day of the auction or upon the clearance of any cheque used for payment whichever is later. We can provide you with a list of shippers. However, we will not be responsible for the acts or omissions of carriers or packers whether or not recommended by us.

(3) No purchase can be claimed or removed until it has been paid for.

(4) It is the Buyer’s responsibility to ascertain collection procedures, particularly if the sale is not being held at our main sale room and the potential storage charges for lots not collected by the appropriate time.

(5) Export of goods: Buyers intending to export goods should ascertain (a) whether an export licence is required and (b) whether there is any specific prohibition on importing goods of that character, e.g. items that may contain prohibited materials such as ivory or rhino horn. It is the buyer’s sole responsibility to obtain any relevant export or import licence. The denial of any licence or any delay in obtaining licences shall neither justify the recession of any sale not any delay in making full payment for the lot.

(6) Whisky, Spirits & Wine: All collections must be signed for by a person over the age of 18. We reserve the right to ask for ID from the person collecting.

11. 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 Sellers and on their 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:
(a) to proceed against you for damages for breach of contract;
(b) to rescind the contract for sale of that lot and/or any other lots sold by us to you;
(c) to resell the lot (by auction or private treaty) in which case you shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs).
(d) to remove, store and insure the lot in the case of storage, either at our premises or elsewhere and to recover from you all costs incurred in respect thereof;
(e) to charge interest at a rate not exceeding 1.5% per month above the current base rate on all sums outstanding for more than 7 working days after the sale;
(f) to retain that or any other lot sold to you until you pay the total amount due;
(g) to reject or ignore bids from you or your agent at future auctions or to impose conditions before any such bids shall be accepted;
(h) to apply any proceeds of sale of other lots due or which become due to you towards the settlement of the total amount due by you and to exercise a lien over any of your property in our possession for any purpose until the debt due is satisfied.

12. 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 only accept liability for opinions given negligently or fraudulently. Subject to the foregoing neither we the auctioneer or our employees or agents accept liability for the correctness of such opinions and no warranties, whether relating to description, condition or quality of lots, express, implied or statutory, are given. Please note that photographs/images provided may not be fully representative of the condition of the lot and should not be relied upon as indicative of the overall condition of the lot.

(2) Condition reports: Condition reports are provided on our website or upon request. The absence of a report does not imply that a lot is without imperfections. Large numbers of such requests are received shortly before each sale and department specialists and administration will endeavour to respond to all requests although we offer no guarantee. Any statement in relation to the lot is merely an expression of opinion of the Seller or us and should not be relied upon as an inducement to bid on the lot. Lots are available for inspection prior to the sale and you are strongly advised to examine any lot in which you are interested prior to the sale. Our condition reports are not prepared by professional conservators, restorers or engineers. Our condition report does not form any contract between us and the Buyer. The condition reports do not affect the Buyer’s obligations in any way.

(3) Estimates: Estimates are placed on each lot to help Buyers gauge the sums involved for the purchase of a particular lot. Estimates do not include the Buyer’s Premium or VAT. Estimates are a matter of opinion and prepared in advance. Estimates may be subject to change and are for guidance only and should not be relied upon.

(4) Catalogue Alterations: Lot descriptions and estimates are prepared in advance of the sale and may be subject to change. Any alterations will be announced on the catalogue alteration sheet, made available prior to the sale. It is the responsibility of the Buyer to make themselves aware to any alterations which may have occurred.

(5) Electrical Goods: are sold as “works of art” only and if bought for use must be checked over for compliance with safety regulations by a qualified electrician first. Use of such goods is entirely at the risk of the Buyer and no warranties as to safety of the goods are given.

(6) Upholstered items: are sold as “works of art” only and if bought for use must be checked over for compliance with safety regulations (items manufactured prior to 1950 are exempt from any regulations). Use of such goods is entirely at the risk of the Buyer and no warranties as to safety of the goods are given. We provide no guarantee as to the originality of any wood/material contained within the item.

(7) Alcohol: may only be sold to persons aged of 18 years and over. By registering to bid, you affirm that you are at least that age. All collections must be signed for by a person over the age of 18. We reserve the right to ask for ID from the person collecting. Buyers of alcohol must make appropriate allowances for natural variations of ullages, conditions of corks and liquid. We can provide no guarantees as to how the alcohol may have been stored. There is always a risk of cork failure and allowance by the buyer must be made. Alcohol is sold “as is” and quality of the alcohol is entirely at the risk of the Buyer and no warranties are given.

(8) Special terms may be used in catalogue descriptions of particular classes of items (Books, Jewellery, Paintings, Guns, Firearms, etc.) in which case the descriptions must be interpreted in accordance with any glossary appearing in the catalogue. These notices and terms will also form part of our terms and conditions of sales

13. BOOKS, CLOCKS & WATCHES
(1) Books-Collation: If on collation any named item in the sale catalogue proves defective, in text or illustration the Buyer may reject the lot provided he returns it within 21 days of the sale stating the defect in writing. This, however, shall not apply in the case of unnamed items, periodicals, autographed letters, music M.M.S., maps, drawings nor in respect of damage to bindings, stains, foxing, marginal worm holes or other defects not affecting the completeness of the text nor in respect of Defects mentioned in the catalogue, or at the time of sale, nor in respect of lots sold for less than £300.

(2) Clocks & Watches: All lots are sold “as seen”, and the absence of any reference to the condition of a clock or watch does not imply the lot is in good condition and without defects, repairs or restorations. Most clocks and watches will have been repaired during their normal lifetime and may now incorporate additional/newer parts. Furthermore, we make no representation or warranty that any clock or watch is in working order. As clocks and watches often contain fine and complex mechanisms, Buyers should be aware that a general service, change of battery or further repair work, for which the Buyer is solely responsible, may be necessary. Buyers should also be aware that we cannot guarantee a watch will remain waterproof if the back is removed. Buyers should be aware that the importing watches such as Rolex, Frank Muller and Corum into the United States is highly restricted. These watches cannot be shipped to the USA and only imported personally.

14. CITES
Please be aware that all lots marked with the symbol Y may be subject to CITES regulations when exporting these items outside the EU. These regulations may be found at https://www.defra.gov.uk/ahvla-en/imports-exports/cites

We accept no liability for any lots which may be subject to CITES but have not be identified as such.

15. SALE BY PRIVATE TREATY
(a) The same Conditions of Sale (Buyers) shall apply to sales by private treaty.
(b) Private treaty sales made under these Conditions are deemed to be sales by auction and subject to our agreed charges for Sellers and Buyers.
(c) We undertake to inform the Seller of any offers it receives in relation to an item prior to any Proposed Sale, excluding the normal method of commission bids.
(d) For the purposes of a private treaty sale, if a lot is sold in any other currency than Sterling, the exchange rate is to be taken on the date of sale.

16. 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, safety and security arrangements. Accordingly, neither the Auctioneer nor our employees or agents shall incur liability for death or personal injury or similarly for the safety of the property of persons visiting prior to, during or after a sale.

17. GENERAL
(a) We shall have the right at our discretion, to refuse admission to our premises or attendance at our auctions by any person.
(b) Any notice to any Buyer, Seller, bidder or viewer may be given by email if not available then first class mail in which case it shall be deemed to have been received by the addressee 48 hours after posting.
(c) Notices to us should be in writing and addressed to the Managing Director at 33 Broughton Place, Edinburgh EH1 3RR, quoting the reference number specified at the beginning of the sale catalogue.
(d) Should any provision of these Conditions of Sale be held unenforceable for any reason, the remaining provisions shall remain in full force and effect.
(e) These Conditions of Sale are not assignable by either party without the other’s prior written consent. No act, omission or delay by us shall be deemed a waiver or release of any of its rights.
(f) The contract between the parties may be varied by the parties by agreement and in writing.

18. AUTHENTICITY GUARANTEE
We guarantee that the authorship, period, or origin (collectively, “Authorship”) of each lot in this catalogue is as stated in the BOLD or CAPITALISED type heading in the catalogue description of the lot, as amended by oral or written saleroom notes or announcements. We make no warranties whatsoever, whether express or implied, with respect to any material in the catalogue other than that appearing in the Bold or Capitalised heading and subject to the exclusions below.

In the event Lyon and Turnbull in its reasonable opinion deems that the conditions of the authenticity guarantee have been satisfied, it shall refund to the original purchaser of the lot the hammer price and applicable Buyer’s Premium paid for the lot by the original purchaser.

This Guarantee does not apply if:
(i) the catalogue description was in accordance with the opinion(s) of generally accepted scholar(s) and expert(s) at the date of the sale, or the catalogue description indicated that there was a conflict of such opinions; or
(ii) the only method of establishing that the Authorship was not as described in the Bold or Capitalised heading at the date of the sale would have been by means or processes not then generally available or accepted; unreasonably expensive or impractical to use; or likely (in our reasonable opinion) to have caused damage to the lot or likely to have caused loss of value to the lot; or
(iii) there has been no material loss in value of the lot from its value had it been in accordance with its description in the Bold or Capitalised type heading.
This Guarantee is provided for a period of one year from the date of the relevant auction, is solely for the benefit of the original purchaser of the lot at the auction and may not be transferred to any third party. To be able to claim under this Authenticity Guarantee, the original purchaser of the lot must:
(i) notify us in writing within one month of receiving any information that causes the original purchaser of record to dispute the accuracy of the Bold or Capitalised type heading, specifying the lot number, date of the auction at which it was purchased and the reasons for such dispute; and
(ii) return the Lot to our registered office in the same condition as at the date of sale to the original purchaser of record and be able to transfer good title to the Lot, free from any third party claims arising after the date of such sale.

We have discretion to waive any of the above requirements. We may require the original purchaser of the lot to obtain, at the original purchaser of lot’s cost, the reports of two independent and recognised experts in the field. The reports must be mutually acceptable to us and the original purchaser of the lot. We shall not be bound by any reports produced by the original purchaser of the lot, and reserves the right to seek additional expert advice at its own expense. It is specifically understood and agreed that the rescission of a sale and the refund of the original purchase price paid (the successful hammer price, plus the buyer’s premium) is exclusive and in lieu of any other remedy which might otherwise be available as a matter of law. Lyon and Turnbull and the Seller shall not be liable for any incidental or consequential damages incurred or claimed, including without limitation, loss of profits or interest.

19. DATA PROTECTION
In connection with the management and operation of our business and the marketing and supply of our services, or as required by law, we may ask the Buyer to provide personal information about themselves or obtain information about the Buyer from third parties (e.g. credit information). We will not give out personal information except as may be required by law.

If you would like further information on our policies on personal data, or to make corrections to your information, please contact us on 0131 557 8844.

20. FORCE MAJEURE
We shall be under no liability if they shall be unable to carry out any provision of the Contract of Sale for any reason beyond their control including (without limiting the foregoing) an act of God, legislation, war, fire, flood, drought, failure of power supply, lock-out, strike or other action taken by employees in contemplation or furtherance of a dispute or owing to any inability to procure materials required for the performance of the contract.

21. LAW AND JURISDICTION
(a) Governing Law: These Conditions of Sale and all aspects of all matters, transactions or disputes to which they relate or apply shall be governed by, and interpreted in accordance with, Scots law
(b) Jurisdiction: The Buyer agrees that the Courts of Scotland are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Sale relate or apply.

Version 18.6