A Sovereign set bracelet in a 9ct pierced mount on a flat link bracelet. 22.5g.

INFORMATION FOR BUYERS

1. Introduction: The following informative notes are intended to assist Buyers, particularly those inexperienced or new to our salerooms. All sales are conducted on our printed ‘Conditions of sale’ which are readily available for inspection and normally accompany catalogues. Our staff will be happy to help you if there is anything you do not fully understand.

2. Agency: As auctioneers we usually contract as agents for the seller whose identity, for reasons of confidentiality, is not normally disclosed. Accordingly if you buy your primary contract is with the seller.

3. Estimates: Estimates are designed to help buyers gauge what sort of sum might be involved for the purchase of a particular lot. The lower estimate may represent the reserve price and certainly will not be below it. Estimates do not include the buyer’s premium or VAT (where chargeable). Estimates are prepared some time before the sale and may be altered by announcement before the sale. They are in no sense definitive.

4. Buyer's premium: The ‘Conditions of sale’ oblige buyers to pay a buyer's premium at 18% (plus VAT) on the hammer price of each lot purchased.

5. VAT: (*) indicates that VAT is payable by the purchaser at the standard rate (presently 20%) on the hammer price as well as being an element in the buyer's premium. This imposition of VAT is likely to be because the seller is registered for VAT within the European Union and is not operating the Dealers Margin Scheme or because VAT is due at 20% on importation into the UK. The double symbol (**) indicates that the lot has been imported from outside the European Union and the present position is that these lots are liable to a reduced rate of VAT (presently 5%) on the gross lot price (i.e. both the hammer price and the buyer's premium). Lots which appear without either of the above symbols indicate that no VAT is payable on the hammer price. This is because such lots are sold using the Auctioneers' Margin Scheme and it should be noted that the VAT included within the premium is not recoverable as input tax.

6. We are, primarily, agents for the seller. We are dependent on information provided by the seller and whilst we may inspect lots and act reasonably in taking a general view about them we are normally unable to carry out a detailed or any examination of lots in order to ascertain their condition in the way in which it would be wise for a buyer to do. Intending buyers have ample opportunity for inspection of goods and, therefore, accept responsibility for inspecting and investigating lots in which they may be interested. Please note carefully the exclusion of liability for the condition of lots contained in the ‘Conditions of sale’. Neither the seller nor we, as the auctioneers, accept any responsibility for their condition. In particular, mechanical objects of any age are not guaranteed to be in working order.  However, in so far as we have examined the goods and make a representation about their condition, we shall be liable for any defect which that examination ought to have revealed to the auctioneer but which would not have been revealed to the buyer had the buyer examined the goods. Additionally, in specified circumstances lots misdescribed because they are 'deliberate forgeries' may be returned and repayment made. There is a three week time limit. (The expression 'deliberate forgery' is defined in our ‘Conditions of sale’).

7. Electrical goods: These are sold as 'antiques' only and if bought for use must be checked over for compliance with safety regulations by a qualified electrician first.

8. 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 because, e.g. they may contain prohibited materials such as ivory. Ask us if you need help.

9. Bidding: Bidders may be required to register before the sale commences and lots will be invoiced to the name and address on the registration form. Some form of identification may be required if you are unknown to us. Please enquire in advance about our arrangements for telephone bidding.

10. Commission bidding: Commission bids may be left with the auctioneers indicating the maximum amount to be bid excluding buyers' premium. They will be executed as cheaply as possible having regard to the reserve (if any)and competing bids. If two buyers submit identical commission bids the auctioneers may prefer the first bid received. Please enquire in advance about our arrangements for the leaving of commission bids by telephone or fax.

11. Methods of payment: As a general rule any cheques tendered will need to be cleared before removal of the goods is permitted. Please discuss with our office in advance of the sale if other methods of payment are envisaged (except cash). Our preferred method of payment is debit card. Telephone bidders must pay either by bank transfer or cheque prior to collection of lots or by debit card or cash in person on collection of goods. Please note, we no longer accept payment by credit card.

12. Collection and storage: Please note what the ‘Conditions of sale’ state about collection and storage. It is important that goods are paid for and collected promptly. Any delay may involve the buyer in paying storage charges.

13. Online Bidding: Killens (trading as the Mendip Auction Rooms) 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 debit card details and unless alternative arrangements are agreed with Killens you: (1) authorise Killens trading as the Mendip Auction Rooms, if they so wish, to charge the debit card given in part or full payment, including all charges, for items successfully purchased in the auction via the-saleroom.com, and (2) confirm that you are authorised to provide these debit card details to us through www.the-saleroom.com and agree that Killens trading as the Mendip Auction Rooms 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 3% charge plus VAT at the rate imposed on the hammer price.

CONDITIONS OF SALE

Both the sale of goods at our auctions and your relationship with us are governed by the Conditions of Sale for Sellers, the Conditions of Sale for Buyers and any notices displayed in the saleroom or announced by us at the auction (collectively, the “Conditions of Sale”).

Please read these Conditions of Sale carefully. Please note that if you register to bid and/or bid at auction, whether at the auction rooms or online, this signifies that you agree to and will comply with these Conditions.

1              Definitions and interpretation

Within these Conditions, the following words have the specific meaning detailed:

“Auctioneer” means Killens LLP a limited liability partnership registered in England and Wales with registration number OC354754 and whose registered office is located at The Cake House, Upper Lodge Farm, Ston Easton, Somerset BA3 4DH or its authorised auctioneer, as appropriate

 “Bidder” means a person participating in bidding at the auction;

 “Buyer” means the person who makes the highest bid for a Lot accepted by the Auctioneer;

 “Deliberate Forgery” means: (a) an imitation made with the intention of deceiving as to authorship, origin, date, age, period, culture or source; (b) which is described in the catalogue as being the work of a particular creator without qualification; and (c) which at the date of the auction had a value materially less than it would have had if it had been as described;

 “Hammer Price” means the level of the highest bid for a Lot accepted by the Auctioneer by the fall of the hammer;

 “Lot(s)” means the goods that we offer for sale at our auctions;

 “Premium” means the premium that we will charge you on your purchase of a Lot to be calculated as set out in Clause 3;

 “Reserve” means the minimum hammer price at which a Lot may be sold;

 “Sale Proceeds” means the net amount due to the Seller;

 “Seller” means the persons who enters Lots for sale at our  auctions;

 “Terms of Consignment” means the terms on which we agree to offer Lots for sale in our auctions as agent on behalf of Sellers;

 “Conditions of Sale” means these terms of sale, as amended or updated from time to time;

 “Total Amount Due” means the Hammer Price for a Lot, the Premium, any applicable artist’s resale right royalty, any VAT due and any additional charges payable by a defaulting buyer under these Conditions of Sale;

 “Trader” means a Seller who is acting for purposes relating to that Seller’s trade, business, craft or profession, whether acting personally or through another person acting in the trader’s name or on the trader’s behalf;

 “VAT” means Value Added Tax or any equivalent sales tax; and

 “Website” means our website available at www.mendipauctionrooms.co.uk

In these Conditions of Sale the words ‘you', 'yours', etc. refer to you as the Buyer. The words “we”, “us”, etc. refer to the Auctioneer. Any reference to a ‘Clause’ is to a clause of these Conditions of Sale unless stated otherwise.

2              Bidding procedures and the Buyer

2.1            Bidders must register their details with us before bidding and provide us with any requested proof of identity, in a form acceptable to us, before entering the auction room to view or bid.

2.2            You are responsible for your decision to bid for a particular Lot and we strongly recommend that you attend the auction in person. If you bid on a Lot, whether in person, by placing a commission bid or by telephone and online bidding, we assume and you accept that you have carefully inspected the Lot and satisfied yourself regarding its condition.

2.3             If you instruct us in writing, we may execute commission bids on your behalf. Neither we nor our employees or agents will 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.

2.4            The Bidder making the highest bid for a Lot accepted by the Auctioneer will be the Buyer at the Hammer Price and any dispute about a bid will be settled at our absolute discretion by re-offering the lot during the course of the auction or otherwise. We will act reasonably in exercising this discretion.

2.5            Bidders will be deemed to act as principals.

2.6            Our right to bid on behalf of the Seller is expressly reserved up to the amount of any Reserve and we may refuse to accept any bid if it is reasonable for us to do so.

2.7            Bidding increments will be at our sole discretion.

3              The purchase price

As Buyer, you will pay:

a. the Hammer Price;

b. a buyer’s premium at 21.6% (18% plus VAT) on the hammer price of each lot purchased in our sales

c. any artist’s resale right royalty payable on the sale of the Lot; and

d. any VAT due at the prevailing rate.

4              VAT

4.1           VAT on the Hammer Price and premium is imposed by law on all items identified in the auction catalogue with an asterisk or double asterisk.

4.2           We will charge VAT at the current rate at the date of the auction.

5              The contract between you and the Seller

5.1           The contract for the purchase of the Lot between you and the Seller will be formed when the hammer falls accepting the highest bid for the Lot at the auction.

5.2           You may directly enforce any terms in the Terms of Consignment against a Seller to the extent that you suffer damages and/or loss as a result of the Seller’s breach of the Terms of Consignment.

5.3           If you breach these Conditions of Sale, you may be responsible for damages and/or losses suffered by a Seller or us. If we are contacted by a Seller who wishes to bring a claim against you, we may in our discretion provide the Seller with information or assistance in relation to that claim.

5.4           We normally act as an agent only and will not have any responsibility for default by you or the Seller (unless we are the Seller of the Lot).

6              Payment

6.1           Immediately a lot is sold you will:

6.1.1        give to us, if required, proof of identity; and

6.1.2        pay to us the Total Amount Due in cash (for which there is an upper limit of 10,000 euros equivalent) or in any other way as is agreed by us.

6.2           Any payments by you to us may be applied by us towards any sums owing from you to us on any account whether without regard to any directions of you or your agent, whether express or implied.

7              Title and collection of purchases

7.1           The ownership of any lots purchased shall not pass to you until you have made payment in full to us for the Total Amount Due. No purchase can be claimed until it has been paid for.

7.2            You will (at your own expense) collect any Lots that you have purchased and paid for not later than five working days following the day of the auction.

7.3            If you do not collect the Lot within this time period, then Lots not collected will be subject to a storage charge of £1 per lot per day. After ten days, we may sell the Lot. We will pay the proceeds of any such sale to you, but will deduct any storage charges or other sums that we have incurred in the storage and sale of the Lot. We reserve the right to charge you a selling commission together with a loss/damage fee at our standard rates on any such resale of the Lot.

7.4            Risk of loss or damage to the Lot will pass to you when you (or your agents) take physical possession of the Lot.

7.5             If it becomes apparent that a Lot has been sold without good title or without authorisation then the buyer agrees to return the Lot promptly subject to being reimbursed any purchase costs and any reasonable expenses incurred in returning the item. If the Buyer fails to return the Lot then the Seller agrees to accept the hammer price achieved as recompense for the sale of the item.

8              Remedies for non-payment or failure to collect purchases

8.1            Please do not bid on a Lot if you do not intend to buy it. If your bid is successful, these Conditions of Sale will apply to you. This means that you will have to carry out your obligations set out in these Conditions of Sale. If you do not comply with these Conditions of Sale we may (acting on behalf of the Seller and ourselves) pursue one or more of the following measures:

8.1.1         to proceed against you for damages for breach of contract;

8.1.2         if payment and collection of the Lots does not take place within five days of the day of the auction, at the discretion of the Auctioneer, to rescind the sale of the Lot to you and/or any other Lots sold by us to you;

8.1.3         to resell the Lot (by auction or private treaty) in which case you will have to pay any difference between the price you should have paid for the Lot and the price we sell it for (after crediting any part payment and adding any resale and storage costs). Please note any surplus arising will belong to the Seller;

8.1.4         to remove, store and insure the Lot at your expense;

8.1.5         to charge interest at a rate not exceeding 1.5% per month on the Total Amount Due if you do not pay us within five working days of your successful bid;

8.1.6         to retain that Lot or any other Lot sold to you until you pay the Total Amount Due;

8.1.7         to reject or ignore bids from you or your agent at future auctions or to impose conditions before we accept bids from you; and/or

8.1.8         if we sell any Lots for you, use the money made on these Lots to repay any amount you owe us.

8.2            We will act reasonably when exercising our rights under Clause 8.1. Except where stated, we will contact you before exercising these rights and try to reach an agreement in respect of any non-compliance by you with these Conditions of Sale.

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 premises and security arrangements. Neither we nor our employees or agents shall incur liability for death or injury (except as a result of our, our employees’ or our agents’ negligence) or similarly for the safety of the property of persons visiting the premises.

10            Warranties

10.1         The Seller warrants to us and to you that:

10.1.1      the Seller is the true owner of the Lot for sale or is authorised by the true owner to offer and sell the lot at auction;

10.1.2      the Seller is able to transfer good and marketable title to the Lot to you free from any third party rights or claims; and

10.1.3      as far as the Seller is aware, the main characteristics of the Lot set out in the auction catalogue (as amended by any notice displayed in the saleroom or announced by the Auctioneer at the auction) are correct.

10.2          If, after you have placed a successful bid and paid for a Lot, any of the warranties above are found not to be true, please notify us in writing. Neither we nor the Seller will be liable to pay you any sums over and above the Total Amount Due and we will not be responsible for any inaccuracies in the information provided by the Seller except as set out below.

10.3         Please note that nearly all Lots that you may bid on at our  auction are second-hand.

10.4         Save as expressly set out above, all other warranties, conditions or other terms which might have effect between the Seller and you, or us and you, or be implied or incorporated by statue, common law or otherwise are excluded.

11            Descriptions and condition

11.1         Whilst we seek to describe lots accurately, our descriptions will be based on: (a) information provided to us by the Seller of the Lot (for which we are not liable); and (b) our opinion (although it may be impractical to carry out a detailed inspection of each Lot).

11.2         We will give you a number of opportunities to view and inspect the Lots before the auction. You (and any independent consultants acting on your behalf) must satisfy yourself about the accuracy of any description of a Lot. We shall not be responsible for any failure by you or your consultants to properly inspect a Lot.

11.3         Prospective buyers also bid on the understanding that 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 will be honestly and reasonably held and accept liability for opinions given negligently or fraudulently.

11.4         Please note that Lots are unlikely to be in perfect condition. Lots are sold “as is” (i.e. as you see them at the time of the auction). We encourage absent bidders to request a condition report of the item from us. Neither we nor the Seller nor any employee accept any liability for the condition of second-hand Lots or for any condition issues affecting a Lot which the inspection of a Lot by the Buyer ought to have revealed. We do not accept any liability for the correctness of any opinions given and all conditions and warranties, whether relating to description, condition or quality of lots, express, implied or statutory, are hereby excluded.

11.5          In the event that there is a discrepancy between a description and/or a photograph of the lot as displayed online and/or the item lotted in the room then we may cancel the sale of any affected Lot and we will refund the money paid by you for the Lot (including any Premium and applicable VAT).

12            Deliberate Forgeries

12.1         You may return any Lot which is found to be a Deliberate Forgery to us within 21 days of the auction provided that you return the Lot to us in the same condition as when it was released to you, accompanied by a written statement identifying the Lot from the relevant catalogue description and a written statement of defects.

12.2         If we are reasonably satisfied that the Lot is a Deliberate Forgery we will refund the money paid by you for the Lot (including any Premium and applicable VAT) provided that if:

12.2.1      the catalogue description reflected the accepted view of experts as at the date of the auction; or

13.2.2      you personally are not able to transfer good and marketable title in the Lot to us, you will have no right to a refund under this clause.

13            Our liability to you

13.1        We will not be liable for any loss of opportunity or disappointment suffered as a result of participating in our auction.

13.2        In addition to the above, neither we nor the Seller shall be responsible to you and you shall not be responsible to the Seller or us for any other loss or damage that any of us suffer that is not a foreseeable result of any of us not complying with the Conditions of Sale. Loss or damage is foreseeable if it is obvious that it will happen or if at the time of the sale of the Lot, we, you and the Seller knew it might happen.

13.3        If we are found to be liable to you for any reason (including, amongst others, if we are found to be negligent, in breach of contract or to have made a misrepresentation), our liability will be limited to the total purchase price paid by you to us for any Lot.

14           Notices

14.1        All notices between you and us regarding these Conditions of Sale must be in writing and signed by or on behalf of the party giving it.

14.2        Any notice referred in Clause 14.1 may be given:

14.2.1     by delivering it by hand;

14.2.2     by first class pre-paid post or Recorded Delivery; or

14.2.3     by email, provided that a copy is also sent by pre-paid post or Recorded Delivery.

14.3        Notices must be sent:

14.3.1     by hand or registered post: a. to us, at Mendip Auction Rooms, Rookery Farm, Binegar, Somerset BA3 4UL; and b. to you, at the last postal address that you have given to us as your contact address in writing; or

14.3.2     by email:

a. to us, by sending the notice to the following email address: enquiries@mendipauctionrooms.co.uk

b. to you, by sending the notice to any email address that you have given to us as your contact email address in writing.

14.4        Notices will be deemed to have been received:            

14.4.1     if delivered by hand, on the day of delivery;

14.4.2     if sent by first class pre-paid post or Recorded Delivery, two business days after posting, exclusive of the day of posting; or

14.4.3      if sent by email, at the time of transmission.

14.5         Any notice or communication given under these Conditions of Sale will not be validly given if sent by any form of messaging via social media or text message.

15            Data Protection and Privacy Statement

If you have consented, we will send you marketing material that we consider may be of interest to you. We will not share your data with any third party except for delivery of our material. You may ask to unsubscribe at any time by emailing: enquiries@mendipauctionrooms.co.uk Our Privacy Policy can be viewed at www.mendipauctionrooms.co.uk.

16            Online Bidding

16.1          Killens (trading as Mendip Auction Rooms) offer an online bidding service via the-saleroom.com and mendipauctionrooms.co.uk for bidders who cannot attend the sale. In completing the bidder registration on either website and providing your debit or credit card details and unless alternative arrangements are agreed with Killens (trading as Mendip Auction Rooms) you:

Authorise Killens (trading as Mendip Auction Rooms) if they so wish to charge the debit or credit card given in part or full payment, including all charges, for lots successfully purchased in the auction via either website; and

Confirm that you are authorised to provide these debit or credit card details to us through either website and agree that Killens (trading as Mendip Auction Rooms) 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 5% charge plus VAT imposed on the hammer price and any lots purchased via mendipauctionrooms.co.uk will be subject to an additional 3% charge plus VAT imposed on the hammer price.

16.2          Bidders are strongly advised not to rely solely on the webcast audio to place live bids as both the audio and video can lag behind the sale. Please place live bids only by the text displayed on the bidding window which will accurately reflect the current state of bidding. We do not accept any liability to you for any bid not being registered whether due to technical or other reasons.

17            Artists Resale Rights

According to the European Union’s Artist’s Resale Rights Directive, which has been adopted and maintained by the United Kingdom, living artists and artists who died within 70 years prior to the date of the sale are entitled to receive a resale royalty each time their art work is sold by an art market professional in the European Union or United Kingdom, subject to certain conditions. The Mendip Auction Rooms will collect the resale royalty due to the artists or their estates from buyers of lots with a hammer price (excluding buyers premium and VAT) in excess of €1000. Any purchaser of a lot to which Artist’s Resale Right applies will be charged the amount of the resale royalty, which will be added to the invoice. VAT is not payable on any royalty. The rate payable for items €0 to €50000 is 4%. Contact us for further rates.

18            General

18.1         We may, acting reasonably, refuse admission to our premises or attendance at our auctions by any person.

18.2         We act as an agent for our Sellers. The rights we have to claim against you for breach of these Conditions of Sale may be used by either us, our employees or agents, or the Seller, its employees or agents, as appropriate. Other than as set out in this Clause, these Conditions of Sale are between you and us and no other person will have any rights to enforce any of these Conditions of Sale.

18.3         We may use special terms in the catalogue descriptions of particular Lots. You must read these terms carefully along with any glossary provided in our auction catalogues.

18.4         Each of the clauses of these Conditions of Sale operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining clauses will remain in full force and effect.

18.5         We may change these Conditions of Sale from time to time, without notice to you.

18.6         Compensation will be paid to the seller for any damaged or lost items equivalent to the lower estimate of value (less any commission charges and other normal selling expenses) as agreed on entering the item for sale or as subsequently set by us. In the event of dispute then the level of compensation payable will be referred to an independent expert for resolution.

18.7         These Conditions of Sale and any dispute or claim arising out of or in connection with them (including any non-contractual claims or disputes) shall be governed by and construed in accordance with the laws of England and the parties irrevocably submit to the exclusive jurisdiction of the English courts.