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TERMS
AND CONDITIONS OF ENGAGEMENT
Definitions
for the purpose of these Terms and Conditions of Engagement : Wotton Auction
Rooms are the Auctioneers and the Vendor is the person instructing Wotton Auction
Rooms to sell goods by auction. The Purchaser is the person who has acquired
goods at an auction.
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The Auctioneers' Conditions of Sale are on display in Wotton Auction Rooms
and printed in each catalogue. Vendors are considered to have had notice
of these and to have agreed acceptance of the same when requesting the entry
of goods for sale in this application.
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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.
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The Auctioneers reserve the right o catalogue goods as they see fit, determine
in which sale these shall be included (ie General or Specialist) and refuse
any lots considered to be unsaleable or of negligible value. They shall
not be held responsible for any expenses or loss incurred thereby, or for
the postponement of cancellation of sales, for whatever cause.
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The Auctioneers act as agents only and do not hold themselves responsible
for any default on the part of 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 Conditions of Sale which in some circumstances made a
Vendor liable to a Purchaser in respect of disputed catalogue descriptions
even when made in good faith and innocently).
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The Vendor shall indemnify the Auctioneers against any claims in connection
with goods sold on the Vendor's instructions.
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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 one of their employees.
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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 has been fixed. Unreserved
goods withdrawn prior to or awaiting sale shall be valued by the auctioneers
at their absolute discretion as their estimate of Auction value.
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Vendor's commission is charged on the hammer price at the rate of 15%
(17.625% inclusive).
This includes all expenses of sale except insurance premiums (insurance
cover of 50p per £100 value will be charged) removal, storage, illustration
and advertising charges (where applicable). A lotting fee of £1 per lot
is chargeable.
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Payment (without interest) will usually be made to the Vendor within 10
- 14 days of the sale date, after deductions of commission, VAT and expenses
(where applicable); but the Auctioneers shall not be liable for payment
to the Vendor until they themselves receive full payment from the purchaser.
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Notwithstanding any other of these Terms and Conditions of Engagement, it
within 7 days of the sale of any lot the purchaser gives written notice
to the Auctioneers that in his opinion it is a deliberate forgery, as defined
below, and within 14 days of such notice, returns the lot to the Auctioneers,
in the same condition as it was at the time of sale and by producing evidence
(the burden of proof being on 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 be bound by this condition.
NB
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 sale,
was in accordance with the 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.
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Goods withdrawn prior to sale but after cataloguing or valuation, 'Bought-in'
lots and unsold, reserved goods will attract a charge at the rate of 5%
of the value based upon reserve prices or valuation provided by the Auctioneers
(plus expenses where applicable) which shall be binding upon the Vendor.,
This charge is levied in addition to the Lotting Fee.
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A Vendor may place reserve on any lots (minimum £30) 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 entered into a subsequent sale(s) with reduced
reserves - agreed with the Vendor.
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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 Vendor's full expense. The minimum charge will
apply to these unsold lots.
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All owners of goods remaining at the Auction Rooms, after notice has been
given for removal of the same, will be charged £1 per lot per day. Failure
to collect items after due notice has been given, may result in goods being
sold, without reserve, to cover expenses.
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VAT (as applicable) will be levied on all fees, charges and expenses at
the prevailing rate (except commission).
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