Terms and Conditions
Introduction to our Auctions IMPORTANT NOTES ON ABSENTEE BIDDING ONLINE Buyer’s Premium A Buyer’s Premium of 24% (inclusive of VAT) will be charged on top of the hammer price. VAT Some lots will be subject to VAT on the hammer price. This will be indicated by clicking on the fees button when viewing a lot. Purchase Price The successful bidder shall agree to pay the purchase price which will be the aggregate of the final bid, and a Buyer’s premium of 24% (inclusive of VAT) together with any VAT chargeable on the final bid. Removal of Lots All purchases must be cleared within two working days of the sale after which storage charges may be incurred. Currency Bids are in GBP and must be whole pounds (no pence). Payment Invoices will be emailed to successful bidders after the end of the auction. Whilst social distancing is in place we ask that payments are made online via our website or by bank transfer. By doing this you will reduce the amount of contact points at the auction rooms. Our bank details are as follows: NatWest Bank, Nottingham City Branch, 148-149 Victoria Centre, Nottingham, NG1 3QT Account no. 96834129 Account name Arthur Johnson & Sons Ltd Clients Account Sort code 60-80-09 IBAN GB37NWBK60800996834129 SWIFTBIC NWBKGB2L How your bids are handled Arthur Johnson and Sons are requested without any legal obligation of any kind on their part, to execute the bids on the absentee bidder’s behalf. We will use our best endeavours to buy the lots for you as cheaply as possible allowing for other bidders and any reserve prices. In the event of identical bids being received the first bid left will take preference. Introduction to our Auctions The Auctioneer acts only as agent for the Seller (unless otherwise specifically declared). Accordingly Sellers need not be paid until payment is received from the Buyer, nor is the Auctioneer necessarily in a position to know the history of or assess the quality of lots sold on behalf of these principals. In addition, lots sold are likely to have been subject to wear and tear caused by use or the effects of age and may, therefore, have faults and imperfections. Buyers are given ample opportunity at viewing times to examine lots to be sold and will be assumed to have done so. They must rely solely on their own skill or judgement as to whether lots are fit for any particular purpose, and as to compliance with the description or illustrations. New Conditions of Sale The following Conditions of Sale together with the Notice to Buyers that may be displayed in the saleroom or in any catalogue, the Seller Conditions of Sale on the reverse of the entry form and the usual Conditions of Sale on display in the auctioneers premises shall govern the sale of each Lot and any person making a successful bid shall be deemed to be bound thereby:- 1. Conduct of the Auction 1.1 The Auctioneer (which expression includes his employees) offers each Lot as agent of the Seller and not as principal unless otherwise stated in the catalogue or at the time of sale. 1.2 Any Lot may be the subject of a reserve price. Should the Auctioneer in any circumstances sell any Lot under reserve price, he shall be at liberty to cancel the sale even if the Lot has been paid for and delivery given, and upon refund of the purchase price (if paid) neither the Seller nor the Auctioneer shall be under any further liability whatsoever to the Buyer. 1.3 The Seller or his representative or the Auctioneer on his behalf may bid up to the reserve price on any Lot and where no reserve price has been imposed (but in no other case) for the Seller to bid personally or through any one agent. 1.4 The Auctioneer may at any time before the fall of the hammer withdraw, or divide any Lot or combine any Lots. 1.5 The Auctioneer may sell any Lot by private sale before or after the auction. 1.6 The Auctioneer may refuse to accept any bid at his sole discretion and without being required to give a reason. 1.7 The Buyer shall be the person who made the highest bid before the fall of the hammer or such other person as the Auctioneer may declare to be the Buyer without being required to give a reason. 1.8 Unless the Auctioneer has previously acknowledged in writing that anyone bids as Agent on behalf of a named principal, every person who bids shall be taken to bid on his own behalf as principal. 1.9 If the Auctioneer has already acknowledged in writing that anyone bids as Agent on behalf of a named principal, that person warrants that he has the authority of his principal to make each bid he makes. 1.10 Neither the Seller nor the Auctioneer shall be bound by any sub-sale or assignment or split of the purchase contract and the highest bidder, and thus the buyer shall be alone responsible for the discharge of the purchase price to the Auctioneer. 1.11 The Auctioneer may decide whether there is a dispute between bids, may summarily determine the dispute or immediately again offer the Lot for sale, in each case without being required to give a reason. 1.12 The Auctioneer undertakes that care has been taken to see that descriptions are accurate and reliable, but these are necessarily matters of opinion only and shall not be taken to be statements of fact. Neither the Seller nor the Auctioneer are responsible for the correctness of any description of any lot or its attribution in any manner to any particular originator. 2. After the Auction 2.1 Upon the Auctioneer declaring any Lot sold the Buyer shall within the time specified in 2.2 below pay a) for the Lot or Lots purchased in full together with any VAT due and any Buyers Premium plus VAT thereon; b) the value as summarily determined by the Auctioneer, whose determination shall be final and binding, of all or part of any Lot or of the premises where the auction is held which has been damaged or destroyed by the Buyer or his principal or his agent. 2.2 The time for complying with Clause 2.1 shall be 2.00 p.m. on the day of the sale or such other time as may be specified in the auction catalogue. 2.3 The Auctioneer may at any time at his sole discretion grant the Buyer an extension of time for complying with clause 2.1. 2.4 Until the Buyer has complied with clause 2.1 above: title to any Lot bought shall not pass to the Buyer; the Lot shall be at the Buyers risk; the Auctioneer shall have a lien over any Lot bought by the Buyer at the auction; d) if the Buyer effects or purports to effect a resale or any other disposition of all or any part of any Lot, the Buyer shall hold the proceeds of resale or other disposition on trust for the Auctioneer and the Seller. 3. Removal of Lot Bought 3.1 The Buyer may not remove any Lot until he has paid in full the sums specified in clause 2.1 for every Lot that he has bought. 3.2 After paying the sums specified in Clause 2.1 the Buyer must remove the Lot bought before 2.00 p.m. on the day of sale or such time as may be specified in the catalogue. 3.3 If a Lot bought includes a motor vehicle no warranty is given that the vehicle may safely or lawfully be driven on the road. 3.4 Neither the Seller nor the Auctioneer shall be under any liability pursuant to Section 6 of the Health and Safety Act 1974 and the Buyer undertakes to carry out all necessary tests, examinations and other works to ensure so as far as practicable any Lot purchased will be safe and without risk to health and safety at all times when it is being used by any person at work. 4. Default by the Buyer 4.1 If the Buyer has failed to pay the sums specified in Clause 2.1 by the expiry of the time specified in Clause 2.2 or by any extension granted in Clause 2.3 or to remove any Lot by the time specified in Clause 3.2 the Auctioneer may rescind the sale of that Lot and that Lot may be resold by auction or privately. 4.2 If the Auctioneer has rescinded the sale but the Buyer has removed the Lot bought, the Auctioneer shall be entitled without previous notice to enter upon any premises where he believes the Lot to be and remove it. 4.3 If the Auctioneer has rescinded the sale and the Lot has been resold, the Buyer shall make good any deficiency in the sale price less the resale price together with the costs of and incidental to the resale. 5. Liabilities and Indemnities 5.1 The Auctioneer warrants that he believes that the Seller of each Lot is able to pass good title and if the Seller is not able to do so, the Auctioneer shall use his reasonable endeavours to assist the Buyer in obtaining good title and in pursuing any remedies the Buyer may have against the Seller but the Auctioneer shall not be bound to initiate litigation and shall not be under any other obligation to the Buyer. 5.2 The Auctioneer neither has nor professes any expert or other knowledge of any Lot sold and each Lot is sold as seen with all faults and errors or mistakes of description and all written or oral representations as to description, quality or fitness are excluded. The Buyer shall be deemed to have inspected the Lot he buys and if he buys without so doing he shall do so at his own risk. 6. Waivers 6.1 No indulgence shown by the Auctioneer shall prevent him or the Seller subsequently insisting upon their respective rights and remedies. 7. Third Party Liability 7.1 Every person on the Auctioneer’s premises, at any time, shall be deemed to be there at his or her own risk. He or she shall have no claim against the Auctioneers in respect of any accident which may occur or injury, damage or loss howsoever caused, save insofar as the injury, damage or loss shall be caused by the direct negligence of Arthur Johnson and Sons employees.