TERMS AND CONDITIONS FOR PARTICIPATION IN AUCTION AND PURCHASE OF GOODS
1. INTERPRETATION
1.1 The definitions in this clause apply to these Terms:
“Bid Slip” shall mean the slip or electronic form given to a potential Buyer to fill in his details prior to participating in an auction.
“Paddle” shall mean an object that displays the number assigned to registered bidders at an auction. The said number is a bidder’s unique identification number given to him after registration.
“Buyer” or “Highest Bidder” shall mean the maker of the highest bid accepted by MAIN AUCTION HOUSE on the fall of the hammer (when the Hammer Price is achieved) and the term “Buyer” shall also include purchaser by private treaty sale.
“Buyer’s Premium” shall mean the sum equivalent to 10% (ten percent) of the hammer price (or the amount specified in the Important Notes, if any), which is charged by the auctioneer on the Hammer Price of each lot and payable by the buyer in addition to the hammer price.
“Commission Bids” shall mean a proxy bid at auction placed by MAIN AUCTION HOUSE on behalf of a bidder not present in the room up to a pre-agreed maximum.
“Contract” shall mean the contract for purchase (applicable to real estate auctions only) formed between the Buyer and the Seller once the Hammer Price has been achieved.
“Entry Fee” shall mean the sum charged the Seller for listing his goods for auction with MAIN AUCTION HOUSE.
“Defaulter’s Entry Fee” shall mean the sum charged the relevant party (Buyer or Seller) in the event that the lot has to be re-auctioned otherwise than due to a fault of MAIN AUCTION HOUSE.
“Deposit” shall mean the sum paid in cash, banker’s draft, electronic transfer or card payment (or as otherwise agreed) by the Buyer to MAIN AUCTION HOUSE as a down or in initial payment for each lot immediately after the hammer has fallen, which shall be 10% of the hammer price (or such higher amount as mentioned by in the Important Notes).
“Good(s)” shall mean any good or goods forming a lot or lots as described in the catalogue or relevant Important Notes including but not limited to personal goods, digital, electronic, bespoke, real estate, industrial goods and/or equipment.
“Hammer Price” shall mean the highest bid accepted by MAIN AUCTION HOUSE including any VAT (Value Added Tax) that may be included therein.
“Important Notes” shall mean the notes associated with each auction including but not limited to the Health & Safety notes, viewing times, payment details, collection times, the amount of the Buyer’s Premium, VAT chargeable, and any other relevant terms relating to that particular auction and/or sale, and which in all cases are governed by these Terms and Conditions.
“MAIN AUCTION HOUSE” shall mean the Auctioneer or Auction Firm that conducts the live auction from the rostrum or online or any of the firm’s authorised representative.
“Lot” shall mean any single good, group of goods, or set of goods sold at an auction physically or online.
“Main Characteristics” shall mean the description of the core characteristic of the good (for example whether the good is a chair, television or necklace).
“Premises” shall mean the place or platform in which the auction facilitated by MAIN AUCTION HOUSE is taking place, and, where relevant, the location where the individual Lot and/or Lots under the control of MAIN AUCTION HOUSE are stored.
“Registration” shall mean all or any one of the following as appropriate:
- the payment of registration fees in cash or electronically, or as otherwise notified by MAIN AUCTION HOUSE in the relevant Important Notes; and
- (ii) the presentation of 2 forms of identification acceptable to MAIN AUCTION HOUSE when requested; and
- (iii) the completion and submission of the Bid Slip.
“Seller” shall mean the owner of the goods or his authorised representative save where the context otherwise requires.
“VAT” shall mean Value Added Tax.
“Working Day” shall mean any day that MAIN AUCTION HOUSE is open to the public for business.
1.2 The headings of the Terms do not form part of the Terms.
1.3 Save in the context of any online auctions held by MAIN AUCTION HOUSE where reference to writing will include reference to email; writing or written communication does not include faxes unless otherwise notified by MAIN AUCTION HOUSE.
1.4 If any of these Terms are inconsistent with any term of the Important Notes, the Important Notes shall prevail.
- All entries of goods and the subsequent sale and purchases of lots at our public auctions (which include our physical, online and simulcast auctions) are subject to these Terms.
- All Buyers and Sellers acknowledge and agree that these Terms and Conditions are binding upon them, and by the Buyers completing Registration and MAIN AUCTION HOUSE accepting the Sellers’ good(s) for auction, these Terms are deemed accepted and incorporated into all dealings as between the relevant parties.
2. ENTRY INTO AUCTION
2.1 MAIN AUCTION HOUSE sells as agent for the Seller and as such is not responsible for any default by Seller howsoever arising (including default to title).
2.2 Unless otherwise agreed by MAIN AUCTION HOUSE in writing, no good(s) shall be deemed accepted into any auction unless and until the Seller has produced: –
2.2.1 the good(s) (to the relevant premises);
2.2.2 a digital and/or electronic description of the good(s);
2.2.3 any required entry fee as specified by MAIN AUCTION HOUSE (for the avoidance of doubt, MAIN AUCTION HOUSE reserves the right to charge an entry fee when a good(s) is entered for auction, such entry fee as will be agreed between the potential seller and MAIN AUCTION HOUSE at the relevant time, and for the avoidance of doubt, if for any reason the good(s) is entered for re-sale subsequent to the initial auction (otherwise than due to a fault of MAIN AUCTION HOUSE, then MAIN AUCTION HOUSE will be entitled to charge the Defaulters Entry Fee each time the same good(s) is re-entered for auction);
2.2.4 all other relevant certificates pertaining to the good(s), which the Seller is reasonably able to produce upon request
2.3 Unless otherwise agreed, notwithstanding the production of the goods for auction, MAIN AUCTION HOUSE has the right to refuse entry of any good into auction, and shall stipulate the entry fee at a reasonable amount deemed appropriate by it.
2.4 The Seller warrants to MAIN AUCTION HOUSE and to the Buyer that:
2.4.1 the Seller is the true owner of the good(s) or is properly authorised to sell the good(s) by the true owner;
2.4.2 the Seller is able to transfer a good and marketable title to the good(s) free from any third-party claims; and
2.4.3 every representation made by the Seller (in any form) about the good(s) is wholly accurate and informed, and the Seller acknowledges that MAIN AUCTION HOUSE and the Buyer shall rely upon such representations.
2.5 The Seller shall indemnify MAIN AUCTION HOUSE, its servants and agents and the Buyer against any loss or damage suffered by them in consequence of any breach of the warranties set out in clause 2.4 above on the part of the Seller.
2.6 Unless previously agreed in writing, MAIN AUCTION HOUSE shall remit the proceeds of the sale (after making the relevant deductions for Seller’s Commission, VAT and so on) to the Seller not later than one month after the auction.
2.7 Where a Seller cancels instructions for auction of a lot after it has been listed in the catalogue, MAIN AUCTION HOUSE reserves the right to charge the Defaulter’s Entry Fee plus 5% of MAIN AUCTION HOUSE’s latest estimate of the auction price of the lot withdrawn (plus VAT where applicable).
2.8 Where any Lot fails to sell, MAIN AUCTION HOUSE will notify the Seller accordingly. The Seller will make arrangements either to re-enter the lot for auction or to collect the lot, and if such arrangements are not made:
2.8.1 within 5 Working Days of notification, then the Seller will be responsible for any removal, storage and insurance expenses of the lot as notified by MAIN AUCTION HOUSE (unless otherwise agreed); and
2.8.2 within 7 working days of notification, then MAIN AUCTION HOUSE will have the right to sell the lot at public auction without reserve and to deduct from the Hammer Price any sum owing to MAIN AUCTION HOUSE including removal, storage and insurance expenses, the entry fee in respect of the first auction (together with any VAT chargeable thereon), a Defaulter’s Entry Fee, commission on the second auction and all other reasonable expenses before remitting the balance to the Seller
3. BASIS OF SALE
3.1 All lots are sold ‘as they lie’ and/or ‘as it is’ with all faults and imperfections and errors of description other than those relating to the Main Characteristics. The Main Characteristics do not extend to details of the good(s) (for example the memory capacity of a laptop, the state of functionality of the good or the condition of the good). The absence of any reference to the condition of a lot does not imply that the lot is free from faults, imperfections and restorations. Illustrations in catalogues, digital displays or brochures are for identification purposes only. MAIN AUCTION HOUSE will not be held responsible for any damage or defect that has not been notified to the Buyer.
3.2 Buyers must satisfy themselves prior to sale as to the condition of each lot and should exercise and rely on their own judgment as to whether the Lot accords with its description. Prospective Buyers bid on the understanding that, inevitably, representations or statements by MAIN AUCTION HOUSE as to authorship, genuineness, origin, date, age, provenance, or condition involve matters of opinion. Neither MAIN AUCTION HOUSE nor its employees or agents nor the Seller accept liability for the correctness of such opinions.
3.3 No warranty (written or oral) or other term (whether express or implied and whether implied by statute, common law, custom or otherwise) as to the age, correctness of any, suitability, fitness for purpose, or satisfactory quality of the lot is given by MAIN AUCTION HOUSE, its servants or agents or by any Seller to any Buyer in respect of any lot, and any express or implied conditions or warranties are excluded to the fullest extent permitted by law. Nothing in this clause shall exclude any express or implied conditions or warranties relating to the Main Characteristics provided by MAIN AUCTION HOUSE. For the avoidance of doubt, the lots are not sold by sample, and the Buyer shall be deemed to have inspected the lot(s) he buys.
3.4 Other than the description of the Main Characteristics provided by MAIN AUCTION HOUSE, no oral or written representation made prior to or at the time of sale of any lot shall be deemed to be a representation of fact and MAIN AUCTION HOUSE undertakes no obligation or duty (whether in contract or tort or otherwise) in respect of the accuracy or completeness of any statement or representation made by MAIN AUCTION HOUSE or on MAIN AUCTION HOUSE’s behalf which is in any way descriptive of any lot. No such oral or written representations shall be deemed to be incorporated into such sale or to have induced any potential buyer to bid.
3.5 Buyers buy lots ‘where they lie’ and ‘as it is’ and are wholly responsible to bring any necessary labour and equipment in order to remove their lot(s) and shall comply with any directions which may be given by MAIN AUCTION HOUSE as to the safe removal of the lot(s) and in giving due care to other lots on the premises and the premises itself.
3.6 These Terms shall become binding on the Seller and Buyer respectively when: –
3.6.1 The Seller’s lot is accepted by MAIN AUCTION HOUSE to be considered for auction.
3.6.2 The Buyer completes Registration.
3.7 MAIN AUCTION HOUSE has the right to revise and amend these Terms from time to time to reflect changes in market conditions affecting its business, changes in technology, changes in payment methods, changes in relevant laws and regulatory requirements and changes in various systems’ capabilities. Buyers and Sellers will be subject to the policies and terms in force at the time these Terms become binding in accordance with clause 3.6 above.
3.8 The Buyer acknowledges that a sale by auction IS NOT a consumer sale for the purposes of the Federal Competition and Consumer Protection Act 2019 and the Buyer shall not seek to rely upon any conditions or warranties implied thereby or by any other legislation. All lots are sold as seen with no grading or guarantees and include second-hand items, used, salvage, raw returns, ex-display, repossessed and seized goods.
3.9 Any estimates provided in respect of a lot are only an expression of MAIN AUCTION HOUSE’s opinion made on behalf of the Seller of the range where MAIN AUCTION HOUSE thinks the Hammer Price for the Lot is likely to fall; it is not an estimate of value. It does not take into account any VAT or Buyer’s Premium payable. Lots can in fact sell for Hammer Prices below and above the estimate. Any estimate should not be relied on as an indication of the actual selling price or value of a lot.
3.10 Private treaty sales made under these Terms are deemed to be sales by auction for purposes of consumer legislation.
3.11 ARTIST’S RESALE RIGHT REGULATIONS – Where specified, works of art may be subject to the addition of a royalty charge (a percentage of the final hammer price, excluding VAT and Buyers Premium) which will be added to the final invoice in accordance with the Artist’s Resale Rights Regulations.
4. RISK AND TITLE
4.1 The title in the lot shall not pass to the Buyer until the Hammer Price and the Buyer’s Premium have been paid in full to MAIN AUCTION HOUSE (and have been received in full and cleared funds) and any other instrument tendered in payment has been cleared. Until title passes, and subject to clause below, MAIN AUCTION HOUSE reserves the right to dispose of the lot in accordance with clause 2.8 above.
4.2 From the delivery of a lot to the premises and until the Hammer Price in respect of a lot is reached or the lot is removed by the Seller (including any time during which the lot is being tested or demonstrated on the auction premises, or elsewhere) the lot is at the risk of the Seller, and neither MAIN AUCTION HOUSE nor its servants or agents will be responsible for any loss or damage whether caused by negligence or otherwise.
4.3 From the time when a Hammer Price is reached in respect of a lot, whereby a lot is deemed sold, and notwithstanding clause 4.1 above, the lot is at the risk of the Buyer from that point onwards.
5. CONDUCT OF THE AUCTION
5.1 Without prejudice to any of its rights set out in these Terms, MAIN AUCTION HOUSE has absolute discretion without giving any reason to: refuse any bid, withdraw any lot before the hammer falls, divide any lot or combine any two or more lots.
5.2 Potential buyers wishing to participate in an auction shall first:
5.2.1 view all Lots
5.2.2 complete registration (including the payment of the registration fees), before they will be admitted to participate in any auction.
5.3 The contract of sale between the Seller and a Buyer will be formed once the Hammer Price has been achieved, at which point the lot shall be deemed sold subject to the provisions of clause 4.1 above.
5.4 For the avoidance of doubt, the parties to the contract of sale of the lot are the Buyer and the Seller. MAIN AUCTION HOUSE is not a party to the contract of sale but acts as the Seller’s agent only and is not liable for any breach thereof by either the Buyer or the Seller.
5.5 Immediately after the achievement of the Hammer Price the terms of clause
below shall apply.
5.6 If a potential buyer is unsuccessful in achieving the Hammer Price, he may recover his deposit (if he had made a deposit prior to the auction) from MAIN AUCTION HOUSE or, he may request in writing that MAIN AUCTION HOUSE keep the deposit against future auctions which the potential buyer may participate in, and make him a registered ‘regular customer’ of MAIN AUCTION HOUSE provided he adheres to bi-annual requests for identification.
5.7 Any dispute in relation to the bidding or following the attainment of the Hammer Price in relation to what bids were made or by who, shall be referred to MAIN AUCTION HOUSE for decision. For the avoidance of doubt, MAIN AUCTION HOUSE shall have absolute discretion to cancel the contract of sale and to re-auction the lot (which is the subject of any dispute) either during the same or a subsequent auction, and, in all cases, MAIN AUCTION HOUSE’s decision in respect of any such dispute (for which no justification or reasons shall be required) shall be final.
5.8 In the event that MAIN AUCTION HOUSE exercises the discretion to cancel the contract referred to at clause 5.7 above, neither the original Buyer nor the Seller shall be entitled to rely on the original contract of sale for any purpose whatsoever save that the Buyer shall be entitled to the return of any deposit or other money which he may have paid under the original contract.
5.9 Every bidder shall be deemed to act as principal unless there is in force a written acknowledgment by MAIN AUCTION HOUSE that he acts as agent on behalf of a named principal.
5.10 MAIN AUCTION HOUSE shall not in any circumstances be obliged to announce any reserve price.
5.11 MAIN AUCTION HOUSE reserves the right to turn away any potential Sellers and/or Buyers who do not present appropriate identification upon reasonable request.
5.12 Persons attend auctions at their own risk.
5.13 Where MAIN AUCTION HOUSE conducts a sale on behalf of a Seller who is either a receiver or liquidator of a limited company or trustee in bankruptcy:
5.13.1the Seller and MAIN AUCTION HOUSE on its/his behalf shall only sell whatsoever right, title or interest the company or bankrupt may have in any lot;
5.13.2 in the event of a third party proving to have a superior title or right to custody or possession of any lot, MAIN AUCTION HOUSE may rescind the contract of sale; and upon return of any deposit and/or Hammer Price to the Buyer, neither the Seller nor MAIN AUCTION HOUSE shall be under any further liability to the Buyer.
5.14 MAIN AUCTION HOUSE shall have the right, at its discretion, to refuse admission to the premises or attendance at the auctions by any person.
5.15 The Important Notes and these Terms will be made available to potential buyers on MAIN AUCTION HOUSE website, on request, and it will be on display at the premises. It will also be referred to in the event catalogue (if any).
6. PRICE AND PAYMENT
