2 Tannoy Silver Monitor 12” Speakers (Circa 1950’s) Serial No’s 018031 and 015535 Type LSU/HF/12/L

PURCHASER TERMS OF SALE

1 (a) Each bidder must complete and sign a registration form prior to bidding at the auction and receive a bid number card (paddle).

   (b)  The maker of the highest bid accepted by the auctioneer at the sale shall be the buyer at the hammer price and any dispute about a bid shall be settled at the auctioneer’s absolute discretion by reoffering the Lot during the course of the auction or otherwise.

   (c)  Bidders shall be deemed to act as principals and once made, no bid may be withdrawn.

   (d)  The auctioneer’s right to bid on behalf of the seller is expressly reserved up to the amount of any reserve and the right to refuse any bid is also reserved.

2   The buyer shall pay the hammer price together with a premium of 17.5% (plus VAT on the premium at the current rate imposed by law) or 22.5% + VAT for General Household Sales.

3  Value Added Tax (VAT) on the hammer price is imposed by law on all items identified by an asterisk.  VAT is charged at the prevailing rate at the date of sale and is payable by all purchasers of relevant Lots.

4  Bidding increments shall be at the auctioneer’s sole discretion.

5  Payment of purchased Lots must be made during, or immediately following the sale.

Buyers unknown to Swan and Turner must make arrangements before the sale for payment and/or references to be supplied.  If requested, proof of identity must also be given.

If such arrangements are not made, cheques will be cleared before purchases can be uplifted.  Payment can also be made IN PERSON by Credit or Debit Cards (Credit Cards carry a small surcharge of 2.75%) or by cash to a limit of £9,000 in accordance with money laundering regulations.

We regret we cannot accept payment over the telephone by Credit Cards. Debit Card payments are acceptable by telephone if the total transaction is less than £300.

Payment may also be made by Direct Bank Transfer(details on website or by request).All Bank Transfers must state Purchaser`s name as reference. If transferring from a foreign currency the total we must receive must be in pounds sterling after a currency conversion and deduction of any bank charges.

Cheques drawn by third parties, whether in the auctioneer’s favour or requiring endorsement, cannot be accepted.

6  The ownership of any Lots purchased shall not pass to the Purchaser until full payment is received.

The Purchaser shall, at their own risk and expense take away any Lots they have purchased and paid for not later than 3 working days following the sale or upon clearance of any cheque used for payment after which they shall be responsible for any removal, storage and insurance charges.

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

7  If the Purchaser has not paid for any Lots purchased within 24 hours of the sale thereof he/she shall be deemed to have received notice of Swan and Turner’s intention to re-sell the Lot/s in terms of Section 48 (3) of the Sale of Goods Act 1979.  If, at the expiry of a further 48 hour period Swan and Tuner have not received settlement they may re-offer the Lot/s for auction.  If, upon such a re-sale a lower price is obtained for any Lot than was obtained on the first sale, the difference in price shall be a debt due from the original Purchaser.  Interest shall be charged at 5% above Royal Bank of Scotland Base Lending Rate on any purchase monies outstanding after such 72 hour period until the goods are re-sold.

The Auctioneers reserve the right to charge fees for all and any administrative and legal costs in respect of any unpaid accounts, these will be added to the original unpaid account and shall accrue interest at the same rate.

8  Swan and Turner will be pleased to execute bids on behalf of intending purchasers and no charge is made for the service.

Lots will be purchased as cheaply as permitted by other bids and reserves.

Bids in writing must be submitted to our office at least one hour before the Sale commences (forms available from auctioneers).  In the event of receiving two identical bids the first one received will take precedence.  Swan and Turner will do their utmost to execute these bids but offer this service entirely at the bidder’s risk.

9  Bids by telephone – Should you wish to bid at the sale , live by telephone, details including references, payment methods etc, must be supplied in writing to our offices at least 24 hours before the sale.  The telephone bidding facility is a discretionary service and may not be available in relation to all Lots as telephone lines are limited.  All calls are strictly at the intending purchaser’s risk and may be recorded.

10 Prospective purchasers are also advised to acquaint themselves with the General Conditions of Sale contained in the Sale Catalogue.

11  If prospective purchasers are unable to inspect lots in person the auctioneers will be able to give a verbal condition report on a particular item without charge or obligation, as a matter of courtesy.  Obligation over the printed or oral descriptions applied to sale items are limited and prospective purchasers are reminded that such descriptions are for guidance only and all lots are sold ‘as found’ (refer to General Conditions of Sale).

12  Lots that were once operated by mains electricity are bought entirely at the buyer’s risk.  They are offered for sale for display or historical purposes only and may not comply with current regulations.

13  Occasionally when a lot has suffered extensive damage and/or restoration it may be indicated in the catalogue.  This is mentioned entirely at our discretion for the benefit of buyers.  Where there is no mention of damage and/or restoration this should not be taken to mean that there is none.  It is the buyer’s responsibility to ensure that the condition of lots is to their satisfaction (see our Terms and Conditions of Sale).

ARTIST RESALE RIGHTS

The double asterisk symbol (**) indicates paintings which are subject to Artist Resale Rights (Droit de Suite) which took effect in the UK in 2006.

We are required to collect a royalty payment for all qualifying works of art and following new legislation which came into effect on 1^st 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 but will not apply to works realizing under 1000 Euros.

The charge for works sold between 1000 Euros and 50,000 Euros is 4% thereafter on a reduced sliding scale.  All charges are paid to DACS and no part is retained by The Auctioneers.  The charge is not subject to VAT.

CONDITION REPORTS

Whilst every care is taken in the accuracy of condition reports, Swan & Turner provide no guarantee to the buyer other than in relation to forgeries.  Many items are of an age or nature which precludes their being in perfect condition and some descriptions in the catalogue or given by way of condition report make reference to damage and/or restoration.  We provide this information for guidance only and will not be held responsible for oversights concerning restoration, nor does a reference to a particular defect imply the absence of any others.  Prospective purchasers must accept these reports as genuine efforts by Swan & Turner and or must take other steps to verify condition of lots.

PACKING & SHIPPING

We are neither professional packers or shippers – however we may pack and post small items following payment and at the purchaser(s) expense and risk. Whilst we will make every effort to pack suitably we do not take responsibility for the safe arrival of goods and accept no liability for damage in transit.

We also recommend our local Mailboxes Company,Tel 01316523672 ; email – info@mbesouthbridge.co.uk and additional local couriers details can be supplied on request.

GENERAL CONDITIONS OF SALE

1  Swan and Turner act as agents only and disclaim any responsibility for default by sellers or buyers.

2  Whilst every effort has been made to ensure the accuracy of this catalogue and the description of any lot:-

  (a)  Each lot is sold with all faults, imperfections and errors of description.

  (b)  The Auctioneers do not accept responsibility for the authenticity, attribution, genuineness, origin ,date, period, condition or quality of  any lot.

  (c)             (c)  All statements whether printed in the catalogue or made orally as to any of the matters set out in (b) above are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by the Auctioneers, unless they have been instructed 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.

  (d)  Any claim under any Statute must be received in writing by the Auctioneers within seven days of the Sale.

3 (a)  The auctioneer has absolute discretion to divide any lot, to combine any two or more lots or to withdraw any lots or lots from the sale, to refuse bids, regulate bidding or cancel the sale without 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 a reserve or at the auctioneer’s discretion.

  (b)  The highest bidder shall be the buyer.  The auctioneer may at his sole discretion determine the advance of bidding or refuse a bid.  If during the auction the auctioneer considers that a dispute has arisen, he has absolute discretion to settle it or to re-offer the lot.

  (c)  Each lot is put up for sale subject to any reserve price placed by the vendor.

  (d) 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.

4  The seller acknowledges that all lots are sold subject to the stipulations of the General Conditions of Sale in their entirety and in the Terms of Consignment as notified to the consignor at time of entry.

5  The buyer shall pay the hammer price together with a premium of 17.5% of the hammer price (the premium attracts VAT at the standard rate) or

22.5% + VAT for General Household Sales and is payable by all purchasers.  The vendor authorises the Auctioneers to deduct commission and expenses at the stated rates from the hammer price and acknowledge the Auctioneers’ right to retain the premium payable by the purchasers.

6  Notwithstanding any other terms of these conditions, if within seven days after the sale the Auctioneers have received from the buyer of any lot, notice in writing that in his view the lot is a deliberate forgery and within fourteen days after such notification the buyer returns the same to the Auctioneers in the same condition as at the time of sale by producing evidence, the burden of proof to be upon the buyer, satisfies the Auctioneers that considered in the light of the entry in the catalogue the lot is a deliberate forgery then the sale of the lot will be rescinded and the purchase price of the same refunded.  In the event of a dispute then the matter shall be settled by arbitration.  Both the buyer and the vendor agree to be bound by the decision.

7              7  Swan and Turner disclaim responsibility for default by either the buyer or the vendor because they act as auctioneers and reserve the right to withhold payment to the vendor until payment is received from the buyer.  Instructions given by telephone are accepted at the sender’s risk and must be confirmed in writing forthwith and at least one hour before the sale commences.  It is the responsibility of all persons leaving such bids to ascertain immediately after the conclusion of the sale, whether they have been successful.

8  Every person on the Sale Premises at any time shall be deemed to be there at their own risk.  They shall have no claim against Swan and Tuner in respect of any accident which may occur or injury, damage or loss howsoever caused, save in so far as the injury, damage or loss shall be caused by the negligence of Swan and Turner employees.

9  Ample opportunity is given for inspection and each purchaser by making a bid for a lot acknowledges that he has satisfied himself fully before bidding by inspection or otherwise as to all the Sale Conditions, the physical condition of the lot including but not restricted to whether the lot is damaged or has been repaired.

10 Swan and Turner have the right to refuse admission to their premises or attendance at the auctions by any person.

11             11  Vendors and buyers give Swan and Turner the right to photograph and illustrate any lot placed with them for sale and to use such photographs and illustrations at any time whether or not in connection with the auction.

12  Scottish Law applies to the interpretation of all these Conditions of Sale.