An 18ct White Gold Aquamarine and Diamond Three-Stone Ring

Terms & Conditions for Buyers

Stone Hoffman Auctioneers 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. The following should be read extremely carefully before bidding.

1. Definitions In these Terms & Condition of sale: (a) ‘auctioneer‘, ‘agent‘, ‘we‘, ‘us‘, etc means Stone Hoffman Auctioneers (which is a trading name of Stone Hoffman Ltd) or its authorised auctioneer or representative as appropriate; (b) ‘seller‘, ‘vendor‘, ‘consignor‘ refer to the individual, organisation or institution who is in ownership of any given item which the agent has been contracted to offer for sale; (c) ‘buyer‘ refers to the holder of the highest bid accepted by the auctioneer conducting the sale and shall be contractually bound to complete the purchase at this price; (d) ‘you‘, ‘your‘, etc. refer to the buyer as identified in Conditions 1 (c); (e) ‘hammer price‘ refers to the level of bidding reached in the auction (at or above any given reserve price) at the time the auctioneer drops the hammer; (f) ‘total amount due‘ means the sale price for any given lot sold, together with any other premium, other additional charges payable, and Value Added Tax chargeable; (g) ‘deliberate forgery’ means imitation goods made with the deliberate intention of deceiving as to authorship, origin, date, age, period, source, etc, but which is unequivocally described by Stone Hoffman in the catalogue as being the work of a particular creator and which at the date of the sale had a value materially less than it would have had it been in an accordance with the description; 2. Agency (a) Stone Hoffman Auctioneers, unless otherwise agreed, acts only as agent for the seller, whose identity, for reasons of confidentiality, is not normally disclosed. Any contract for the sale of property is therefore made between the buyer and the seller. (b) The Auctioneer is dependent upon the seller for information relating to any items being sold and whilst we may inspect lots and express a general view about them, we are not normally able to undertake any in depth investigation or research in the manner which the buyer should. (c) The seller warrants to the auctioneer and you that the seller is the true owner of the property consigned or is properly authorised by the true owner to consign it for sale and is able to transfer good and marketable title to the property, free from any third party claims. 3. Descriptions and Condition (a) Whilst we seek to describe lots accurately, our employees are not professionally trained restorers or conservators, and due to the nature of the auction business it is not possible for us to carry out the sort of research which might be undertaken by professional historians or scholars. (b) Prospective buyers are given ample opportunities to view and inspect before any sale and they must satisfy themselves as to the accuracy of any description applied to a lot. In cases of items of significant value, we strongly recommend you seek advice on such matters from independent professional advisors. (c) Any mention of condition of lots within a catalogue entry does not constitute a full description of condition. Condition reports are available on request and will assess the condition of a lot with reasonable care and honesty. (d) Prospective buyers bid on the understanding that, inevitably, representations or statements by us, whether in the form of a catalogue entry, condition report or other, as to authorship, genuineness, origin, date, age, provenance, condition, or estimated selling price involve matters of opinion only. We undertake that any such opinion shall be honestly and reasonably held however neither Stone Hoffman nor its employees or agents, nor the vendor accept liability for the correctness of such opinions or views, and all conditions and warranties, express, implied or statutory are hereby excluded. 4. Estimates Any estimates, where given, are designed only as a loose guide to help buyers gauge the sort of sum of money that may be involved in purchasing any given lot. It will always be our belief that any bid within the given estimate should have a fair chance at buying any item, however estimates should not be relied on as a statement that this is the price at which the item will sell, nor should they be relied on as a valuation of the item for any other purpose. 5. Registration and Admission (a) Bidders are required to register their particulars with us before bidding and may be asked for proof of ID, address and proof of funds, and to satisfy any security arrangements before entering the auction room to view or bid. (b) We reserve the right at our complete discretion to refuse admission to the premises or participation in any auction and also reserve the right to refuse any bid at our complete discretion. 6. Bidding in Principal All bidders shall be deemed to act as principals. When making a bid, a bidder is accepting personal liability to pay the purchase price (as defined in Condition 12) plus all other applicable taxes and charges, unless it has been expressly agreed in writing with the auctioneer prior to the commencement of the sale that the bidder is acting as an agent to an identified third party acceptable to and approved by the auctioneer. In this instance alone, we will look only to the agreed principal for payment. 7. Absentee Bids Whilst prospective buyers are strongly advised to attend the auction and are always responsible for any decisions to bid for a particular lot, and shall be assumed to have reasonably inspected and satisfied themselves as to its condition, we will if so instructed, clearly and in writing, execute bids on their behalf. Neither the auctioneer nor our employees or agents shall 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. 8. Telephone Bids Where a prospective buyer has engaged us prior to the commencement of a sale to do so, we will use reasonable efforts to contact them to enable them to participate in bidding via the telephone. We do not accept any liability for failure to do so, or for any error or omission in connection with telephone bidding arising from circumstances beyond our reasonable control. 9. Reserves (a) Lots are frequently offered subject to a reserve price which is the confidential minimum price at which a lot can be sold. The reserve price will not exceed the low estimate printed in the catalogue. That is to say, any item can in theory be purchased, if there are no other bids, for its low estimate. The auctioneer may open the bidding on any lot below the reserve by placing a bid on behalf of the seller and may continue to bid on behalf of the seller up to the amount of the reserve, either by placing consecutive bids or by placing bids in response to other bidders. (b) In some instances, a lot may be offered with a guaranteed return price for the vendor in the case of a sale. This price may exceed the reserve price and low estimate of a lot, but this does not affect the reserve price or the ability of any buyer to in theory purchase the lot at its low estimate. In the instance that an item is sold at its reserve price where the vendor is guaranteed a net return of a greater sum of money, the auctioneer will supplement the outstanding sum to the vendor. (c) Reserves and estimates are often prepared several months prior to a sale, and may be subject to change which will always by announced before the sale. 10. Auctioneer’s Discretion (a) The auctioneer has the right to exercise reasonable discretion in refusing any bid, or advancing the bid in any such manner that he or she may see fit, as well as withdrawing and dividing/combining lots. (b) Bidding increments shall be at the sole discretion of the auctioneer. 11. Successful Bid and Padding of Risk (a) The maker of the highest bid, subject to the auctioneer’s reasonable discretion, shall be the buyer at the hammer price at the time the auctioneer drops the hammer, which completes a binding contract for sale between the seller and the buyer. (b) Any dispute about a bid shall be settled at the auctioneer’s absolute discretion by re-offering the lot during the course of the auction or otherwise. The auctioneer shall act reasonably in exercising this discretion. (c) Total risk and responsibility for the lot passes to the buyer as the auctioneer drops the hammer and neither the auctioneer nor their agents shall be responsible for any loss or damage of any kind from this point, excepting where the loss or damage has arisen as a result of negligence whilst the lot remains in our possession for a maximum of five working days after the day of the sale. After this point, total risk and responsibility will pass to the buyer even in cases of loss or damage caused by negligence. 12. The Purchase Price The purchase price shall be the hammer price together with a buyer’s premium. Premium is payable at rate of only 9% of the final bid price of a lot. Premium is subject to VAT at the appropriate rate. The purchase price does not include any online buyer charges, shipping, or other charges, nor any VAT incurred on these charges. 13. Value Added Tax Value Added Tax on the hammer price of any given item is imposed by law on all items marked ‘FV’. 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. 14. Artist’s Resale Right (“Droit de Suite”) For any lot which is subject to the Artist’s Resale Right Regulation 2006, the buyer agrees to pay to us an amount equal to the resale royalty provided for in those regulations based on the hammer price of the lot (excluding any premium or charges). Lots which may be affected will be marked with ‘ARR’. 15. Payment and Shipping (a) Immediately or at your earliest convenience, and no later than five working days after the sale of a lot in auction you will: (i) give to us, if requested, proof of identity (ii) pay to us the total amount due in pounds sterling (b) Any payments by you to us may be applied by us towards any sums owing from you to us on any account whatever without regard to any directions of you or your agent, whether express or implied. (c) Shipping is available on all items within our jewellery auctions and will be charged at the following rates: (i) Domestic UK packages up to £2500 in value charged at £20.00 per package; (ii) Domestic UK packages in excess of £2500 in value charged at £20.00 per package plus insurance at a rate of 2% of the total purchase price; (iii) International packages up to £250 in value charged at £30.00 per package; (iv) International packages in excess of £250 in value charged at £40.00 per package plus insurance at a rate of 2% of the total purchase price. (d) Stone Hoffman shall undertake to wrap and package all items carefully and securely, however accepts no direct liability for any damage to goods occurring during transit to the buyer, but will act on behalf of the buyer in making an insurance claim with the appropriate courier for any loss / damage, and will relay in full to the buyer any payments made by the couriers in respect of any claim made. (e) All payments, including our standard delivery charges, will be automatically taken from the card used for registration by all online bidders using the-saleroom.com on the seventh day after the auction, except where the invoice has already been settled within this time, or other alternative arrangements have been made directly with the finance department in this time period. It is essential online bidders using the-saleroom.com contact the finance department within 48 hours after the auction if they wish to make alternative arrangements for payment. (f) Payments may be made in any of the following ways: (i) Bank transfer. 16. Title and Collection of Purchases (a) 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. (b) You shall at your own risk and expense collect any lots that you have purchased and paid for from our premises not later than five working days following the day of the auction or upon the clearance of any cheque used for payment, after which you shall be responsible for any collection, storage and insurance charges. (c) No purchases may be collected and we shall not release any lot to you or your agent until it has been paid for. 17. Export Licenses / CITES Regulations In the case of any lots which require export licences or may be subject to CITES regulations when exported, it is the sole responsibility of any potential buyers to make themselves aware of these regulations. We shall not rescind any sale on the basis that an item cannot be exported and if payment is not made within the given period of seven working days after the day of the sale, we will at our discretion exercise any of the rights and remedies outlined in Condition 18. 18. Remedies for Non Payment or Failure to Collect Purchases (a) 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 seller and on our own 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: (i) to proceed against you for damages for breach of contract; (ii) to rescind the sale of that lot and/or any other lots sold to you by us; (iii) 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). Any surplus so arising shall belong to the original seller; (iv) to remove, store and insure the lot at your expense at a rate of up to £10 per day + VAT, and, in the case of storage either at our premises or elsewhere; (v) to charge interest at a rate not exceeding 1.5% per month on the total amount due to the extent it remains unpaid for more than five working days after the sale; (vi) to retain that or any other lot bought until you pay the total amount due; (vii) to reject or ignore bids from you or your agent at future auctions or to impose conditions before any such bids shall be accepted; (viii) to apply any proceeds of sale of other lots due or in future becoming due to you towards the settlement of the total amount due and to exercise a lien (that is a right to retain possession of any of your property in our possession for any purpose until the debt due is satisfied). (b) We shall, as agent for the seller and on our own behalf pursue these rights and remedies only so far as is reasonable to make appropriate recovery in respect of breach of these conditions. 19. Third Party Liability All members of the public on our premises are there at their own risk and must note the layout of the accommodation and security arrangements. Accordingly, neither the auctioneer nor our employees or agents shall incur liability for death or personal injury (except as required by law for reason of our negligence) or similarly for the safety of the property of persons visiting prior to or at a sale. 20. Terms of Sale The seller acknowledges that lots are sold subject to the stipulations of these Conditions in their entirety, and on the Terms of Consignment as notified to the consignor at time of entry of the lot. 21. Public Auctions and Online Auctions (a) We welcome all interested parties and bidders to our auction and as such you agree and concede that: (i) All auctions held by Stone Hoffman where the auction is conducted by an auctioneer and bidders may bid via telephone bid and listen to the auction live streamed online are to be classed as Public Auctions, in accordance with the definitions set out in the Consumer Contracts Regulations 2013; (ii) Only auctions where it is expressly stated in the important sale information displayed online or in a printed catalogue that bidding is available online only may be exempted from classification as a public auction as defined above. (b) As outlined in Condition 21 (a) all buyers, bidders and interested parties have the opportunity to attend all auctions in person, where all goods sold will be second hand, and will be sold as seen, thus exempting all goods purchased from the Sale of Goods Act 1989. (c) While we welcome interested parties and bidders to attend any and all auctions in person, even those where ‘in-person bidding’ is not available, entry will be on a first come, first serve basis, and due to space limitations we may not always be able to guarantee entry on the day, so we ask that the aforementioned parties, wherever possible, register their intention to attend in person at least 24 hours prior to the auction. (d) Where it is not possible interested parties and bidders to enter and view the conduct of the auction in person due to space limitations (first come, first serve, etc) all parties agree this does not exempt the auction from classification as a public auction as outlined above. 22. Returns and Refunds (a) You contact us immediately upon receipt of the item and not later than fourteen days following receipt of the item to inform us by writing of your wish to return the item for a refund; (i) You return the goods to us via a tracked, registered and insured method of shipment not later than fourteen days after the date of notifying us of your wish to return them for a refund; (ii) The goods are returned in their original condition and with all original accompanying boxes, paperwork, etc. (b) Goods which have been altered or customised for clients, including but not limited to resizing, metal polishing, stone polishing, plating, stone replacement, repair, de-bruising, re-boxing, cleaning, engraving, etc will not be eligible for return under any circumstances. 23. Stone Hoffman Warranty (a) Stone Hoffman provides a 2 year warranty with all Rolex watches. 24. Value Added Tax (VAT) VAT will be applied where applicable. 25. Buyer Warranties (a) As the buyer you warrant to Stone Hoffman that the funds used for payment are not in any way connected with criminal activity, including but not limited to tax evasion, and you are neither under investigations nor have been charges with or convicted of any money laundering charges, terrorist activities or other crimes. (b) In the instance that you are bidding on behalf of a third party you warrant that: (i) you have relevant KYC (know your customer) and AML (anti money laundering) regulations in place and that you have conducted sufficient due diligence to ensure that the conditions outlined in 27(a) are also satisfied by your customer; (ii) you will, at our request and at any time within five (5) years of the date of the auction, make available any and all documentation referencing the due diligence checks carried out on your customer; (iii) at our sole discretion, prior to or after being registered to bid on behalf of a client on any given lot, provide to us detailed written information about your KYV and AML policies. 26. Explanation of Cataloguing Terms Cataloguing terms are standard and in line with marketplace norm. 27. Stone Treatments and Certifications (a) Some lots in this catalogue are accompanied by gemmological reports and certificates which give an opinion on various aspects of some or all of the stones in any one particular lot. These certificates may have been provided to Stone Hoffman by the vendor, or obtained by Stone Hoffman for the vendor. It should be noted that the content of these certificates is a statement of opinion of the issuing gemmological laboratories only, and cannot by guaranteed by Stone Hoffman, who will not be held responsible for any disagreement over the content of any certificates after the sale. We can also not be held responsible for any retrospective change of opinion by the providers of any given certificate. (b) It is common practice for colourless and fancy coloured diamonds, coloured stones, and pearls to be subject to treatment to enhance their appearance, including jade. Unless stated otherwise in the catalogue description, prospective buyers should assume that all stones offered for sale by Stone Hoffman may have been subject to treatments. If you have any questions regarding stone treatments or enhancements, please contact the department. 28. CITES, Export Licences and Prohibited Imports (a) Some lots such as those containing ivory, tortoiseshell, coral, etc. may require export or CITES licences in order to leave the UK or the European Union. It is the buyer’s responsibility to ensure that lots have the relevant licences before shipping them. Please contact the department for assistance. (b) Please also note that some countries such as the United States prohibit the purchased and import of objects originating from certain countries such as Iran, Persia and Burma/Myanmar. It is the buyer’s responsibility to satisfy themselves that the lot being purchased may be imported in the country of destination. 29. VAT symbols and other lot symbols VAT symbols and other lot symbols are per the norm in the marketplace. 30. Notices Any notice to any buyer, vendor, bidder, viewer or other client may be given by first class mail, or email, in which case it shall be deemed to have been received by the addressee 48 hours after posting or sending. All notices to Stone Hoffman must be sent in writing via a traceable method, and email is not acceptable. 31. Copyright The copyright of all content produced by and for Stone Hoffman Auctioneers for a lot including catalogue entries and images shall remain the possession of Stone Hoffman Auctioneers only and shall not be used by any other third party, including vendors or buyers of any given lots. 32. Severability If any part of these Conditions of Business shall be found to be unlawful, invalid, illegal or unenforceable by any jurisdiction or court then that part alone shall be denounced and all other terms will remain valid to the fullest extent permitted by the law. 33. Law and Jurisdiction (a) English law applies to the interpretation of these conditions. (b) All parties involved irrevocably agree that the courts of England alone have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with the Agreement or its subject matter or formation (including non-contractual disputes and claims).

Terms & Conditions for Buyers (Private Sale)

Stone Hoffman carries on business with bidders, buyers and all those present in the auction room prior to or in connection with any sales on the following General Conditions and on such other terms, conditions and notices as may be referred to herein. The following should be read extremely carefully before buying.

1. Definitions

In these Terms & Condition of sale:

(a) ‘auctioneer‘, ‘agent‘, ‘we‘, ‘us‘, etc means Stone Hoffman Auctioneers (which is a trading name of Stone Hoffman Limited) or its authorised auctioneer or representative as appropriate;

(b) ‘seller‘, ‘vendor‘, ‘consignor‘ refer to the individual, organisation or institution who is in ownership of any given item which the agent has been contracted to offer for sale;

(c) ‘buyer‘ refers to the maker of an offer accepted and agreed by us, who shall be contractually bound to complete the sale at the sale price;

(d) ‘you‘, ‘your‘, etc. refer to the buyer as identified in Conditions 1 (c);

(e) ‘sale price‘ refers to the agreed price negotiated between you and us in relation to the purchase by private treat of any lot;

(f) ‘total amount due‘ means the sale price for any given lot sold, together with any other premium, other additional charges payable, and Value Added Tax chargeable;

(g) ‘deliberate forgery’ means imitation goods made with the deliberate intention of deceiving as to authorship, origin, date, age, period, source, etc, but which is unequivocally described by Stone Hoffman in the catalogue as being the work of a particular creator and which at the date of the sale had a value materially less than it would have had it been in an accordance with the description;

2. Agency

(a) Stone Hoffman Auctioneers, unless otherwise agreed, acts only as agent for the seller, whose identity, for reasons of confidentiality, is not normally disclosed. Any contract for the sale of property is therefore made between the buyer and the seller.

(b) We are dependent upon the seller for information relating to any items being sold and whilst we may inspect lots and express a general view about them, we are not normally able to undertake any in depth investigation or research in the manner which the buyer should.

(c) The seller warrants to the us and you that the seller is the true owner of the property consigned or is properly authorised by the true owner to consign it for sale and is able to transfer good and marketable title to the property, free from any third party claims.

3. Descriptions and Condition

(a) Whilst we seek to describe lots accurately, our employees are not professionally trained restorers or conservators, and due to the nature of the auction business it is not possible for us to carry out the sort of research which might be undertaken by professional historians or scholars.

(b) Any mention of condition of lots within a catalogue entry does not constitute a full description of condition. Condition reports are available on request and will assess the condition of a lot with reasonable care and honesty.

4. Asking Price

Any asking prices, where given, are designed only as a loose guide to help buyers gauge the sort of sum of money that may be involved in purchasing any given lot. It will always be our belief that any offer around the asking price should have a fair chance of buying any item however asking prices should not be relied on as a statement that this is the price at which the item will sell, nor should they be relied on as a valuation of the item for any other purpose.

5. Registration and Admission

(a) Prospective buyers are required to register their particulars with us before bidding and may be asked for proof of ID, address and proof of funds, and to satisfy any security arrangements before entering our premises to view any items.

(b) We reserve the right at our complete discretion to refuse admission to the premises.

6. Buying in Principal

All buyers shall be deemed to act as principals. When making an offer, a prospective buyer is accepting personal liability to pay the purchase price (as defined in Condition 8) plus all other applicable taxes and charges.

7. Successful Purchase and Padding of Risk

(a) Upon the acceptance of an offer, whether in writing or verbally, and the agreement of purchase by private treaty, the offerer, subject to our reasonable discretion, shall be the buyer of the lot at the sale price, which constitutes a legally binding contract for the sale between the seller and the buyer.

(c) Total risk and responsibility for the lot passes to the buyer upon agreement of purchase by private treaty and neither us nor our agents shall be responsible for any loss or damage of any kind from this point, excepting where the loss or damage has arisen as a result of negligence whilst the lot remains in our possession for a maximum of five working days after the day of the sale. After this point, total risk and responsibility will pass to the buyer even in cases of loss or damage caused by negligence.

8. The Purchase Price

The purchase price shall be the sale price together with any other fees, charges or VAT at the appropriate rate due. The purchase price does not include shipping, or other charges, nor any VAT incurred on these charges.

9. Value Added Tax

Value Added Tax at the prevailing rate of 20% may be due on the full value of some items sold by Private Treaty, however this will always be notified to any prospective buyer before any agreement to purchase is made. 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.

10. Artist’s Resale Right (“Droit de Suite”)

For any lot which is subject to the Artist’s Resale Right Regulation 2006, the buyer agrees to pay to us an amount equal to the resale royalty provided for in those regulations based on the sale price of the lot (excluding any premium or charges). Lots which may be affected will be notified to the buyer prior to the agreement of purchase.

11. Payment and Shipping

(a) Immediately or at your earliest convenience, and no later than five working days after the sale of a lot by private treaty you will:

(i) give to us, if requested, proof of identity

(ii) pay to us the total amount due in pounds sterling

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

(c) Shipping is available on all items within our jewellery auctions and will be charged at the following rates:

(i) Domestic UK packages up to £2500 in value charged at £20.00 per package;

(ii) Domestic UK packages in excess of £2500 in value charged at £20.00 per package plus insurance at a rate of 2% of the total purchase price;

(iii) International packages up to £250 in value charged at £30.00 per package;

(iv) International packages in excess of £250 in value charged at £40.00 per package plus insurance at a rate of 2% of the total purchase price.

(d) Stone Hoffman shall undertake to wrap and package all items carefully and securely, however accepts no direct liability for any damage to goods occurring during transit to the buyer, but will act on behalf of the buyer in making an insurance claim with the appropriate courier for any loss / damage, and will relay in full to the buyer any payments made by the couriers in respect of any claim made.

(f) Payments may be made in any of the following ways:

(i) Bank transfer.

12. Title and Collection of Purchases

(a) 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.

(b) You shall at your own risk and expense collect any lots that you have purchased and paid for from our premises not later than five working days following the day of the auction or upon the clearance of any cheque used for payment, after which you shall be responsible for any collection, storage and insurance charges.

(c) No purchases may be collected and we shall not release any lot to you or your agent until it has been paid for.

13. Export Licenses / CITES Regulations

In the case of any lots which require export licences or may be subject to CITES regulations when exported, it is the sole responsibility of any potential buyers to make themselves aware of these regulations. We shall not rescind any sale on the basis that an item cannot be exported and if payment is not made within the given period of seven working days after the day of the sale, we will at our discretion exercise any of the rights and remedies outlined in Condition 14.

14. Remedies for Non Payment or Failure to Collect Purchases

(a) 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 seller and on our own 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:

(i) to proceed against you for damages for breach of contract;

(ii) to rescind the sale of that lot and/or any other lots sold to you by us;

(iii) 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). Any surplus so arising shall belong to the original seller;

(iv) to remove, store and insure the lot at your expense at a rate of up to £10 per day + VAT, and, in the case of storage either at our premises or elsewhere;

(v) to charge interest at a rate not exceeding 1.5% per month on the total amount due to the extent it remains unpaid for more than five working days after the sale;

(vi) to retain that or any other lot bought until you pay the total amount due;

(vii) to reject or ignore bids from you or your agent at future auctions or to impose conditions before any such bids shall be accepted;

(viii) to apply any proceeds of sale of other lots due or in future becoming due to you towards the settlement of the total amount due and to exercise a lien (that is a right to retain possession of any of your property in our possession for any purpose until the debt due is satisfied), as well as to re-offer for sale (by auction of private treaty) any lots on which we are exercising a lien to recoup any deficit or balance owed from you to us;

(b) We shall, as agent for the seller and on our own behalf pursue these rights and remedies only so far as is reasonable to make appropriate recovery in respect of breach of these conditions.

15. Third Party Liability

All members of the public on our premises are there at their own risk and must note the layout of the accommodation and security arrangements. Accordingly, neither we nor our employees or agents shall incur liability for death or personal injury (except as required by law for reason of our negligence) or similarly for the safety of the property of persons visiting prior to or at a sale.

16. Terms of Sale

The seller acknowledges that lots are sold subject to the stipulations of these Conditions in their entirety, and on the Terms of Consignment as notified to the consignor at time of entry of the lot.

17. Returns and Refunds

(a) In the instance that the buyer of any lot purchased by private treaty is permanent resident within the UK or EU, they shall, in accordance with the Consumer Contracts Regulations 2013 have a right to return the goods in exchange for a full refund without reason by satisfying the following:

(i) You contact us immediately upon receipt of the item and not later than fourteen days following receipt of the item to inform us by writing of your wish to return the item for a refund;

(ii) You return the goods to us via a tracked, registered and insured method of shipment not later than fourteen days after the date of notifying us of your wish to return them for a refund;

(iii) The goods are returned in their original condition and with all original accompanying boxes, paperwork, etc.

(b) In the instance that the buyer of any lot purchased by private treat is not permanent resident within the UK or EU, there shall be no right to return under any circumstances.

(c) Goods which have been altered or customised for clients, including but not limited to resizing, metal polishing, stone polishing, plating, stone replacement, repair, de-bruising, re-boxing, cleaning, engraving, etc will not be eligible for return under any circumstances.

18. Value Added Tax (VAT)

(a) Unless otherwise stated that any item sold by Private Treaty shall be liable to full VAT on the sale price, all prices negotiated shall be inclusive of margin scheme VAT where appropriate.

(b) In the instance that an item is subject to full VAT on the purchase price, Stone Hoffman are pleased to offer a VAT refund service on invoices which are being shipped directly to the buyer outside the EU by Stone Hoffman Shipping and Export department. This VAT refund service is complimentary for invoices with a total amount due in excess of £2000.00, and charged at a rate of of £20.00 + VAT per invoice below this value. We will handle all necessary paperwork and deduct VAT from your invoice prior to payment being made, subject to export outside the EU being carried out solely by Stone Hoffman Shipping and Export department.

(i) Please note that the VAT levied on this service is not deductible for non EU buyers, as this is for a service being offered and completed within the EU.

(c) VAT registered UK and EU businesses warrant they will not under any circumstances seek to reclaim any margin scheme VAT on any invoices issued by Stone Hoffman.

(e) For further information regarding VAT refunds on goods being exported outside the EU which have been brought into the EU from outside the EU using temporary admission, please contact us directly.

19. Buyer Warranties

(a) As the buyer you warrant to Stone Hoffman that the funds used for payment are not in any way connected with criminal activity, including but not limited to tax evasion, and you are neither under investigations nor have been charges with or convicted of any money laundering charges, terrorist activities or other crimes.

20. Stone Treatments and Certifications

(a) Some lots in this catalogue are accompanied by gemmological reports and certificates which give an opinion on various aspects of some or all of the stones in any one particular lot. These certificates may have been provided to Stone Hoffman by the vendor, or obtained by Stone Hoffman for the vendor. It should be noted that the content of these certificates is a statement of opinion of the issuing gemmological laboratories only, and cannot by guaranteed by Stone Hoffman, who will not be held responsible for any disagreement over the content of any certificates after the sale. We can also not be held responsible for any retrospective change of opinion by the providers of any given certificate.

(b) It is common practice for colourless and fancy coloured diamonds, coloured stones, and pearls to be subject to treatment to enhance their appearance, including jade. Unless stated otherwise in the catalogue description, prospective buyers should assume that all stones offered for sale by Stone Hoffman may have been subject to treatments. If you have any questions regarding stone treatments or enhancements, please contact the department.

21. CITES, Export Licences and Prohibited Imports

(a) Some lots such as those containing ivory, tortoiseshell, coral, etc. may require export or CITES licences in order to leave the UK or the European Union. It is the buyer’s responsibility to ensure that lots have the relevant licences before shipping them. Please contact the department for assistance.

(b) Please also note that some countries such as the United States prohibit the purchased and import of objects originating from certain countries such as Iran, Persia and Burma/Myanmar. It is the buyer’s responsibility to satisfy themselves that the lot being purchased may be imported in the country of destination.

22. Notices

Any notice to any buyer, vendor, bidder, viewer or other client may be given by first class mail, or email, in which case it shall be deemed to have been received by the addressee 48 hours after posting or sending. All notices to Stone Hoffman must be sent in writing via a traceable method, and email is not acceptable.

23. Copyright

The copyright of all content produced by and for Stone Hoffman for a lot including descriptions and images shall remain the possession of Stone Hoffman only and shall not be used by any other third party, including vendors or buyers of any given lots.

24. Severability

If any part of these Conditions of Business shall be found to be unlawful, invalid, illegal or unenforceable by any jurisdiction or court then that part alone shall be denounced and all other terms will remain valid to the fullest extent permitted by the law.

25. Law and Jurisdiction

(a) English law applies to the interpretation of these conditions.

(b) All parties involved irrevocably agree that the courts of England alone have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with the Agreement or its subject matter or formation (including non-contractual disputes and claims).

Terms & Conditions for Sellers

1. Definitions In these terms and conditions of consignment: (a) ‘auctioneer’, ‘agent’, ‘we’, ‘us’, etc means Stone Hoffman or its authorised auctioneer or representative as appropriate; (b) ‘seller’, ‘vendor’, ‘consignor’ refer to the individual, organisation or institution who is in ownership of any given item which the agent has been contracted to offer for sale; (c) ‘lot’ refers to any piece of property offered at auction by us on behalf of any given vendor; (d) ‘sale’ refers to the auction and or auction day within which a lot is offered; (e) ‘buyer’ refers to the holder of the highest bid accepted by the auctioneer conducting the sale and shall be contractually bound to complete the purchase at this price; (f) ‘you’, ‘your’, etc. refer to the vendor as identified in Condition 1 (b); (g) ‘hammer price’ refers to the level of bidding reached in the auction (at or above any given reserve price) at the time the auctioneer drops the hammer; (h) ‘reserve price’ refers to the pre-agreed, confidential figure below which an item may not be sold; (i) ‘aftersale’ refers to the agreement of sale of any lot with was not sold during the auction, after the auction has ended.

2. Vendor Commission (a) Commission is charged to vendors as a percentage of the total value of their sales, at a rate of 10% unless otherwise agreed in writing. Premium is subject to VAT at the appropriate rate. 3. Loss and Damage We are not regulated by the FSA for the provision of providing insurance to clients, however, for our own protection we assume total liability for all property consigned to us at its reserve price, either fixed or discretionary, or in the case of lots offered without reserve, at the low end of the pre-sale estimate, which is in turn covered by our own insurance providers. We do not make any charge to you for this. 4. Reserves (a) Prior to the auction, you may set a pre-agreed reserve price on your lot which must be confirmed in writing. This is the hammer price below which a lot will not be sold except in accordance with condition 4 (e). (b) A reserve may be designated as ‘fixed’ or ‘discretionary’ which mean that the agreed figure will be observed strictly or with 15% discretion, respectively. (c) A reserve may not be changed except in accordance with condition 5. (d) Where a reserve has been placed on an item, only we may bid on your behalf up to one bid below the reserve price. Under no circumstances may you or any representative of yours bid. (e) We reserve the right to sell a lot below the pre-agreed reserve price provided we account to you for the same sale proceeds as you would have received had the hammer price equalled the reserve. 5. Withdrawals and Alterations To Reserve Lots withdrawn from sale once consigned, or changes made to any reserves, will at our discretion be subject to an administration charge of the greater of either £50 (ex VAT) per alteration or 8% of the higher of either the original or amended reserve price (ex VAT) of each alteration. 6. Unsold Lots (a) As commission is charged solely as a percentage of the sale price of an item, there is no charge for unsold lots. (b) Unsold lots may at the discretion of the auctioneer be re-entered into another sale. If reserves are to be reduced, we would only do so with the consent of the vendor as well as the auctioneer. We reserve the right to refuse re-entry of lots unless the estimate and reserve price have been lowered by at least 15%. 7. Settlement (a) Vendor accounts will be settled in full after all lots on the account have been paid for by their respective buyers, as early as is convenient for Stone Hoffman to do so – twenty-eight calendar days after the sale. (b) Vendors will be paid by BACS (Direct Bank Transfer). (c) You authorise us to make any deductions, pre-agreed or levied in accordance with our terms and conditions for buyers where appropriate, from your account before settling the outstanding sum. (d) If not all lots on an account have been paid for by their respective buyers within twenty-eight calendar days of the end of the sale, we will await your advice on how you would like us to proceed, and whether you would like us to pursue the respective buyers for any outstanding payments with legal or other action of our sole choice, or cancel individual transactions from your statement and settle the remaining balance. 8. Copyright The copyright of all content produced by and for Stone Hoffman for a lot including catalogue entries and images shall remain the possession of Stone Hoffman only and shall not be used by any other third party, including vendors or buyers of any given lots. 9. Severability If any part of these Conditions of Business shall be found to be unlawful, invalid, illegal or unenforceable by any jurisdiction or court then that part alone shall be denounced and all other terms will remain valid to the fullest extent permitted by the law. 10. Warranties (a) The vendor warrants to Stone Hoffman that they have the right to sell all lots offered either as owner or agent for the owner. (b) The vendor warrants to Stone Hoffman that any information provided in writing by them to Stone Hoffman regarding description, condition, authorship, authenticity, origin, treatments, age, provenance or other is accurate, and accepts full liability to Stone Hoffman for the original hammer price of any lot if any piece of information relied upon as part of a lot’s catalogue description, condition report or catalogue note is later proven to be false, resulting in the sale being rescinded and Stone Hoffman having to refund the buyer. 11. Aftersales In cases where any given lot has not sold during the sale, Stone Hoffman at our sole discretion reserve the right to agree the sale of the lot as an aftersale to any buyer for the reserve price, either fixed or discretionary, without consulting the vendor. 12. Law and Jurisdiction (a) English law applies to the interpretation of these conditions. (b) All parties involves irrevocably agree that the courts of England alone have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with the Agreement or its subject matter or formation (including non-contractual disputes and claims).