Vendor Terms & Conditions of Sale
Definitions for the purpose of the Terms and Condition of Engagement : the Company is the Auctioneer and the Vendor is the person instructing the auctioneers to sell goods by auction. The Purchaser is the person who has acquired goods at auction.
The Auctioneer’s Conditions of Sale are on display in the auction room and online at Augustus Online Auctions Ltd . Vendors are considered to have notice of these and to have agreed acceptance of the same when requesting the entry of goods for the sale in this application.
Upon receipt of a completed Entry Form , the vendor will be notified of the appropriate auction date(s) with delivery instructions ( where applicable ). Subsequently altered instructions are at the Vendor’s risk unless confirmed in writing.
The Auctioneers reserve the right to catalogue goods as they see fit, determine in which sale these shall be included ( Specialist etc.) and refuse any lots considered to be unsaleable or of negligible value. They shall not be held responsible for any expenses or loss incurred or for the postponement or cancellation of sales,for whatever cause.
Vendors do not incur storage charges for goods held pending a sale
The Auctioneers act as agents only and do not hold themselves responsible for any default on the part of the Vendors or Purchasers. Furthermore, the Auctioneers give notice that they are not liable for faults or imperfections found with any lot, for any errors of description made by the Vendor themselves or persons in their employment but draw special attention to the Misrepresentation Act which reduces the protection normally given by the customary ‘ Caveat Emptor ‘ clause in the Conditions of Sale which in some circumstances make a Vendor liable to a purchaser in respect of disputed catalogue descriptions ( even when made in good faith and innocently)
The Auctioneers will not accept electrical goods for sale unless these are almost new and / or the owner can assure the same are in working order . Some ‘ Period ‘ equipment may be accepted ( eg. Lights and Fittings) but will be sold as decorative only- to comply with legislation.
The Vendor shall indemnify the Auctioneers against any claims in connection with goods sold on the Vendor’s instructions.
The Auctioneers disclaim responsibility for all loss or damage to goods or for unauthorised removal of the same unless directly the result of negligence on the part of their employees.
Unless otherwise instructed in writing , all goods on the Auctioneers premises and in their custody will be held insured against the risks of fire, burglary and water damage (but not accidental damage or breakage). The value of goods so covered shall be the gross amount realised or in the case of unsold lots , the best bid made or the reserve price when the latter had been fixed.
All items offered will be subject to the Auctioneers discretionary margin of 10% of the set reserve. Unreserved goods withdrawn prior to or awaiting sale will be valued by the Auctioneers at their absolute discretion as their estimate of auction value.
Vendors Commission is charged on the hammer price at the rate of 16% plus 1.5% for insurance cover and a lotting fee of £8 per lot per auction will be charged. The charge covers all lotting expenses, catalogue entry , online listings and illustration. This comprises all charges except removal, storage, repair, and advertising ( where applicable and agreed). The Auctioneers reserve the right to collect the appropriate lotting fee with the entry form and prior to each submission for auction.
Unsold goods will attract a lotting fee plus 1.5% insurance charge ( based on the reserve price or lower estimate), plus expenses where applicable. Goods withdrawn prior to sale but after cataloging, valuation or repairs will attract a charge at the rate of 15% of the value based upon the reserve price(s) or valuation provided by the auctioneers (plus expenses where applicable) , which shall be binding upon the vendor. This will be levied in addition to the lotting fee and the insurance charge. Goods cannot be withdrawn within three working days of commencement of the sale without the agreement of the Auctioneers.
Payment ( without interest) will usually be made to the Vendor approximately 30 days following the sale after the deduction of premium, commission, VAT, Insurance , Lot Fee and expenses( where applicable ) provided that full payment has been received from the purchaser.
Notwithstanding any other of these Terms and Conditions if within 10 days of the sale of any lot the Purchaser gives written notice to the Auctioneer that in his or her opinion it is a deliberate forgery ( as defined below) and within 14 days of such notice, returns the lot to the Auctioneers in the sale condition as it was at the time of sale and by producing evidence( the burden of proof being with the purchaser ) satisfies the Auctioneers that the lot is a deliberate forgery , then the Auctioneers will rescind the sale and refund the purchase price received by them. ( This benefit is not assignable ) the vendor will also e bound by this condition. N.B. In the context of this guarantee ‘ A deliberate Forgery ‘ means a lot made with the intention to deceive when considered in the light of the catalogue entry and which at the date of sale had a value substantially less than it would have had had it been in accordance with the description, however there will be no right where the catalogue description at the time of the sale was in accordance with then general opinion of experts , or fairly indicated there to be a conflict of opinion. The Auctioneers reserve the right in forming their opinion to consult and rely upon any expert or authority considered by them to be reliable.
A Vendor may place reserves on any lots (Minimum £100) but unless instructed to the contrary all lots will be sold without reserve or at the Auctioneers discretion. Lots failing to reach reserve prices may be sold after the sale at or above the reserves or by agreement with the vendor. If a lot fails to sell at the initial auction it will be subject to a 10% reduction in lower estimate or reserve on each subsequent entry.
The Auctioneers reserve the right to dispose of all unsaleable lots which they consider to be of negligible value ( not under reserve) without reference to the vendor and at the Vendors full expense including which fail to comply with condition 5 herein. Unsold items requiring disposal will be subject to a disposal charge of £5 per item.
Vendors wishing to collect unsold goods must give the Auctioneers minimum of 3 working days notice prior to collection. Purchased items also require a minimum of 3 days notice to the Auctioneers. Goods remaining at the Auctioneer’s after a mutually agreed date of collection will be subject to a charge of £5 per day per lot per day. Continued failure to collect items may result in goods being sold without further notice and without reserve to recover costs.
VAT (as applicable) will be levied on all fees, charges and expenses at the prevailing rate.
The Auctioneer must be notified in writing of all requests to change previously agreed reserves no later than 3 working days prior to the start of the sale.
Lots which fail to sell will automatically be re-entered into the next appropriate auction unless withdrawn by the Vendor and subsequently removed from the Auctioneers by 5 pm on the Friday of the following week from the auction date. Failure to remove items within the given time may result in lot(s) being re- offered for auction at the discretion of the auctioneers or without reserve and without further notice to the Vendor in order to recover costs. Where applicable the Vendor is liable for disposal costs.
The Auctioneers may offer a repair service , any agreed cost for work undertaken will be deducted from the net proceeds.
It is the responsibility of the vendor to monitor the progress of their items.
Particular note will be made to the latest CITES ( the Convention on International Species of wild Fauna and Flora ) Act and may result in the Auctioneers unable to accept certain items.
The Auctioneers refuse to accept lots which do not comply with the 1988 Trading Standards Regulations.