Terms & Conditions
STANDARD CONDITIONS OF SALE
Whilst Omega Auctions Ltd makes every effort to ensure the accuracy of their catalogue and the description of any lot:
i. each lot as set out in the catalogue or as divided or combined with any other lot or lots is sold by the vendor with all faults, imperfections and errors of descriptions
ii. Omega Auctions Ltd does not accept responsibility for the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot, unless they have been instructed in writing by the vendors so to certify and in such case the Auctioneers do so as agents of the vendor and are not, themselves, responsible for such claims.
iii. all statements, whether printed in the catalogue or made orally, as to any of the matters set out in (ii) above, are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by Omega Auctions Ltd, unless they have been instructed in writing by the vendor so to certify, and in such case the Auctioneers do so as agents of the vendor and are not themselves responsible for such claims.
iv. the Auctioneer must receive any claim under any Statute in writing within 14 days of the day of the sale.
v. the Sale of Goods Act 1979 (as amended) is not applicable
2. THE AUCTION
i. The Auctioneer has absolute discretion to divide any lot, to combine any two or more lots or to withdraw any lot or lots from the auction, to refuse bids, regulate bidding or cancel the auction without, in any case, giving any reason or without previous notice. He may bid on behalf of the vendor for all goods which are being offered subject to reserve, or at the Auctioneers discretion.
ii. The highest bidder shall be the buyer except in the case of a dispute. If, during the auction, the Auctioneer considers that a dispute has arisen, the Auctioneer has absolute discretion to settle it or to re-offer the lot. The Auctioneer may, at his sole discretion, determine the advance of bidding or refuse a bid.
iii. All conditions, notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statements modifying or affecting the same made by the Auctioneer from the rostrum prior to any bid being accepted for the lot.
Omega Auctions Ltd disclaim responsibility for default by either the buyer or the vendor because they act as agents for the vendor only and therefore do not pay out to the vendor until payment is received from the buyer.
4. PRIVATE TREATY
In the event of a sale by private treaty, both the vendor and the buyer agree to be bound by The Standard Conditions of Sale.
5. PAYMENT FOR SOLD LOTS
Payment for lots sold will be made when all lots delivered at the same time have been sold, Omega Auctions Ltd will not make individual payments for a combination of lots entered.
1. In these conditions, the following words shall have the following meanings:
"The Auctioneer" means Omega Auctions Ltd
"Hammer Price" means the price at which the lot is sold to the buyer
"Buyer" means the highest bidder for any lot acceptable to the Auctioneer "Seller" means the person on whose behalf goods are offered for sale by the Auctioneer "Lot" means goods delivered to the Auction by the Seller for sale by auction
2. The Auctioneer sells as agent for the Seller and as such is not responsible for any default of the Seller or Buyer.
3. All goods delivered to the Auctioneer's premises will be deemed to be delivered for sale by auction unless otherwise stated in writing, they will be catalogued and sold at the Auctioneer's discretion and are accepted by the Auctioneer subject to those conditions. By delivering goods to the Auctioneer for inclusion in auction, the Seller acknowledges, accepts and agrees to all these conditions and grants the Auctioneer full authority to photograph and illustrate any Lot and use such photographs at any time at his discretion.
4. The Seller warrants the Auctioneer and the Buyer that he is the true owner of the Lot or is properly authorised to sell the Lot by the owner and is able to transfer good title thereto, free of any third party claims. For consignments valued at over £1,000, the seller will be required to provide proof of identification and address.
5. The Seller shall indemnify the Auctioneer, its servants and agents and the buyer against all claims made or proceedings brought by persons entitled to the Lot and shall reimburse the Auctioneer on demand for all payments, costs or expenses or any other loss or damage whatsoever made, incurred or suffered as a result of any breach by the Seller of these conditions.
i. All lots will be sold without reserve at the Auctioneers discretion unless otherwise instructed. The Seller may place a reserve on any Lot by agreement in writing with the Auctioneer. Reserves will only be accepted on lots where the low estimate is £100 or more and such reserve may not be any higher than the low estimate. The Auctioneer shall have the sole right to bid on behalf of the Seller up to the amount of the reserve. The Seller shall not bid on any Lot on which a reserve has been placed. The Auctioneer holds himself responsible only for reserves or other sale instructions received in writing from the Seller. Where a reserve has been placed, the Auctioneer, unless agreed otherwise, has 10% discretion on the reserve price.
ii. Where any Lot fails to sell, the Auctioneer retains the right to either:
a. agree a Sale By Private Treaty at his discretion up to 7 days after the auction, for a price no less than the agreed reserve or 50% of the low estimate where no reserve has been set.
b. re-offer the Lot in the next appropriate auction at a reduced estimate and reserve (if any) and sell at the Auctioneers discretion unless written instructions are received to the contrary.
iii. If the Seller does not wish to re-enter the Lot, or the Auctioneer advises the Seller that it does not wish to re-enter a Lot on their behalf, the Seller shall collect the Lot within 7 days of the last auction, failing which, they shall be responsible for storage charges at £5 + VAT per lot per day, in addition to any other charges to which they are liable.
iv. If the Lot remains uncollected 1 month after the day of sale, the Auctioneer shall have the right to sell the Lot at auction without reserve and to deduct from the Hammer Price any sum owing to the Auctioneer, including expenses arising from all sales in which the Lot has been included and storage and insurance charges.
7. The Auctioneer shall remit the proceeds of the Seller within 28 days after the day of the last auction at which all the lots were sold, provided that the Auctioneer has received the total sum due from the Buyer. The Auctioneer shall not be deemed to have received the total sum due until any cheque delivered by the Buyer has been received and cleared. If the Auctioneer exercises its right to rescind the sale under clauses 9 and 21 hereof, it shall not have any obligation to the Seller hereunder.
8. If the Seller withdraws instructions to the Auctioneer to sell any Lot, the Auctioneer may charge the Seller 17.5% + VAT of the mid-estimate value (50% of the Seller’s Commission and Buyer’s Premium which would have been received had the Lot sold at its mid-estimate), in addition to the lot entry fee.
9. If, before the net proceeds of the sale have been paid to the Seller, the Auctioneer receives notice from the Buyer that, in its view, the Lot is a forgery (and is not as described in the catalogue) and the Auctioneer agrees with the view, the Auctioneer will rescind the sale and refund the Buyer any amount paid to the Auctioneer in respect of that Lot.
i. Unless otherwise instructed in writing, any Lot on the Auctioneer's premises and in its custody will be insured at the Auctioneer’s current mid-estimate of its value against the risk of fire, burglary, water damage and accidental breakage or damage. Should an item be subject to a claim following its sale by auction, the settlement figure will be the price achieved less charges and, should the item be subject to a claim following an auction where it has been unsold, the highest bid, if any, shall be the settlement figure.
ii. The Auctioneer, its servants or agents shall not be responsible for loss or damage of any kind to Lots, whether caused by negligence or otherwise, unless such a Lot is covered by insurance effected by the Auctioneer in accordance with clause 10(i) above.
iii. Any liability of the Auctioneer, its servants or agents for any claim for loss or damage whatsoever and howsoever arising in respect of the Lots whether caused by negligence or otherwise, shall be limited to the amount of insurance cover affected in accordance with clause 10(i) above.
11. A commission fee of 17.5% + VAT% or £10 + VAT (whichever is the greater) is payable by the Seller on the Hammer Price of Lots sold, unless a special rate has been agreed between the Seller and the Auctioneer prior to the sale.
12. For Lots which have a reserve price set there is an unsold Lot fee of 3% + VAT of the reserve or £10 + VAT (whichever is the greater). This unsold Lot fee is in addition to the standard Lot fee of £3.
13. Any outstanding fees must be paid before unsold lots may be returned to the vendor.
14. The highest bidder acceptable to the Auctioneer shall be the Buyer. The Auctioneer shall have absolute discretion to settle any dispute and to refuse bids or to advance the bidding as seen fit.
15. Every bidder shall be deemed to act as a principal unless in receipt of written acknowledgement by the Auctioneer that the bidder is acting as agent on behalf of a disclosed principal.
16. Bidding in person, by telephone or absentee bids placed directly with Omega Auctions - The Buyer must complete a registration form and provide identification/proof of address, prior to bidding, following which a bidder number will be issued. The Auctioneer may refuse a bid or re-offer a Lot if a Buyer has not registered and/or has no current bidder number. Following a successful bid, the Buyer shall pay the Auctioneer in full the Hammer Price (plus VAT where applicable, payable in accordance with clause 19 below) together with the Buyers Premium of 17.5% + VAT, by 6pm on the day of the sale, where the Buyer has bid in person within the saleroom. Where the Buyer has purchased an item via a telephone or commission bid, payment must be made within 2 working days of the day of the sale. Payments via credit card will incur an additional fee of 2.5% + VAT. No additional fee is charged for debit card payments.
17. Online Bidding - Omega Auctions offer an online bidding service via the-saleroom.com and liveauctioneers.com for bidders who cannot attend the sale.
In completing the bidder registration on www.the-saleroom.com or www.liveauctioneers.com and providing your credit/debit card details you:
a. authorise Omega Auctions, if they so wish, to charge the debit/credit card given in part or full payment, including all fees/charges, for items successfully purchased in the auction via the-saleroom.com or liveauctioneers.com, and
b. confirm that you are authorised to provide these credit card details to Omega Auctions through www.the-saleroom.com/liveauctioneers.com and agree that Omega Auctions are entitled to ship the goods to the card holder name and card holder address provided in fulfilment of the sale. Additional charges will be incurred for postage and packing where applicable.
Please note that any lots purchased via the-saleroom.com or liveauctioneers.com live auction service will be subject to an internet surcharge of 4% + VAT, making the total premium 21.5% + VAT. Payments via credit card or international debit card will incur an additional fee of 2.5% + VAT. No additional fee is charged for UK debit card payments.
18. Where a Lot is marked by a ** VAT is payable on the Hammer Price at the standard rate.
19. The ownership of a Lot shall not pass to the Buyer and the Buyer shall not be entitled to remove any Lot until he has made full payment to the Auctioneer of the total amount due. Payment shall be deemed to have been made only after the Auctioneer has received cleared funds.
20. All Lots bought within the saleroom must be paid for and removed at the Buyers risk and expense by 6pm on the day of the sale. All lots bought either online or via telephone/commission bid must be paid for within 2 working days of the auction and collected/delivery arranged at the Buyers risk and expense, within 6 working days of the auction. Where payment is made via debit/credit card with the cardholder not present, Omega Auctions reserve the right to defer collection/dispatch of items until payment has cleared (normally 3 working days) and will require proof of identification on collection. Where an item is to be collected by somebody other than the Buyer, written instructions shall be required from the Buyer in advance and the person collecting will be required to provide proof of identification. The Buyer will be responsible for all storage charges thereafter, which will be charged at the Auctioneer's current charge rates.
21. Should a Buyer breech condition 20 the Auctioneer, at his absolute discretion and without prejudice to any other rights he may have, may exercise any of the following rights and remedies.
i. proceed against the Buyer for breach of contract
ii. rescind the sale of all or any Lots sold to the Buyer
iii. re-sell all or any Lots by public auction or private treaty and deficiencies in the purchase price resulting from such sale (after giving credit for any prior payment received from the Buyer) together with full costs incurred in connection with the Lot or Lots, shall be paid to the Auctioneer by the Buyer. Any surplus over the proceeds of the sale shall go to the Seller.
iv. remove, store and insure (on any premises) the Lot or Lots at the expense of the Buyer.
v. charge interest on the purchase price at 5% over the Base Lending Rate of Lloyds TSB Bank PLC on any amount outstanding from the Buyer more than 7 days after the date of the sale.
vi. retain the Lot or any other Lot sold to the Buyer at the same or any other auction and release the same only after payment of the full purchase price.
vii. reject any bids made by or on behalf of the Buyer at any future auction or obtain part-payment before accepting any future bids, or
viii. apply any proceeds of sale then due or at any time thereafter becoming due to the Buyer, towards settlement of the total amount due and exercise a lien on any property of the Buyer which is in the Auctioneers possession for any purpose.
i. Many items are of an age or nature which precludes their being in perfect condition. The catalogue description is for guidance only and does not imply an item is free from defects, nor does a reference to specific defects imply the absence of others.
ii. Prospective buyers are strongly advised to examine personally, any goods in which they are interested before the auction takes place. The Auctioneer can provide condition reports on request, but provide no guarantee to reports given other than in relation of forgeries as referred to in clause 22(iii)
iii. Any Lot which is claimed by the Buyer to be a forgery may be returned to the Auctioneer in the same condition in which it was sold, within 14 days of receipt, together with evidence from two independent experts. If the Auctioneer is satisfied that the claim is justified and that the Buyer is able to transfer a good and marketable title to the Lot free from any third party claims, the Auctioneer will rescind the sale and refund any amount paid by the Buyer to the Auctioneer.
iv. Any claim by the Buyer under this condition shall be limited to the amount paid by the Buyer to the Auctioneer for the Lot.
23. The Auctioneer will, on the Buyers written instructions, execute bids on their behalf, but neither the Auctioneer nor his employees nor agents shall be liable for any neglect in doing or failing to do so.
24. These conditions shall be governed by and construed in accordance with English law.
25. The Auctioneer reserves the right to request a deposit of 50% of the total due from the Buyers successful bidding. This request may be made at any time during the auction. Should the Auctioneers request not be complied with, those Lots designated to the Buyer will be re-offered for sale.
26. With the exception of vinyl records and small, non-delicate items up to the value of £10,000, Omega Auctions do not offer a packing and shipping service. Where Omega Auctions have agreed to pack and send an item, this will be done at the buyers risk and expense.