Information for Buyers
The following notes are intended to assist buyers at our auctions, but our staff will always be happy to help if there is anything that you do not fully understand.
1. Our Role
All sales are conducted according to our Conditions of Sale which are readily available for inspec-tion and printed at the back of the catalogue. As auctioneers we usually act as agents for the seller and the contract for the sale of the property is, therefore, made with the seller.
We produce an illustrated catalogue approximately 2 weeks prior to each auction. If you would like to receive our catalogues please e-mail, fax or post your details to us and we will be delighted to arrange this for you or you may use our contact form.
Our catalogue can also be viewed on our website under the Forthcoming Catalogue tab.
3. Symbols used in the catalogue
† : See VAT
†† : See VAT
††† : See VAT
Ω : See Cites
* : See Droit de Suite
4. Condition of Lots and Condition Reports.
We will be happy to provide you with further information concerning any lot in the sale, such as a condition report which provides more detailed information on a lot than given in the catalogue description. This report can be accompanied by further digital images if required.
The nature of the lots sold in our auctions is such that they will rarely be in perfect condition and are likely, due to their nature and age, to show signs of wear and tear, damage, other imperfec-tions, restoration or repair. Any reference to a condition in a catalogue entry will not amount to a full description as to condition. In describing lots, our staff will assess the condition in a manner appropriate to the estimated value of the item and the nature of the auction in which it is included. Any statement as to the physical nature or condition of a lot, in a catalogue, condition report or otherwise is given honestly and with appropriate care. However, CEFA staff are not professional restorers or trained conservators and, accordingly, any such statement will not be exhaustive. We, therefore, recommend that you always view property personally, and particularly in case of any items of significant value, that you instruct your own restorer or other professional adviser to re-port to you in advance of bidding.
Estimates are published as a guide only and as they are prepared some time before the sale may subsequently be altered by announcement. Any reserve will not be above the lower estimate and the estimates do not include the buyer’s premium or VAT (where chargeable). The eventual ham-mer price of a lot may well be higher or lower than the range of estimate figures that have been given.
6. Buyer's Premium
A Buyer’s Premium of 20% is applicable to all lots and this is subject to VAT at the standard rate (currently 20%). We do offer an online ‘live bidding’ service and buyers using this facility will also be subject to an additional 3% premium plus VAT.
† This symbol indicates that VAT is payable by the buyer at the standard rate (presently 20%) on the hammer price and the premium. This charge is likely to be because the seller is registered for VAT within the European Union and is not operating the Dealers’ Margin Scheme.
For lots imported from outside the EU, the following VAT symbols are used:
†† For items over 100 years old an import VAT of 5% is payable on the hammer price (a further 20% is payable on the premium).
††† For items under 100 years old an import VAT of 20% is payable on the hammer price (a further 20% is payable on the premium).
Ω Property incorporating materials from endangered and other protected species.
Lots which require an export license issued from the Department for the Environment are denoted with this symbol and may include, among other things, ivory, tortoiseshell and rhinoceros horn.
A separate import license may also be required by the destination country and it would be prudent to check this with the relevant authorities.
9. Droit de Suite (Artist’s Resale Right)
Since the 1st January 2012 Droit de Suite has extended to the estates of artists deceased for up to 70 years.
* If a lot is affected by this right it will be identified with this symbol next to the lot number. The buyer agrees to pay CEFA an amount equal to the resale royalty and we will pay such amount to the artist’s collecting agent. Resale royalty applies where the hammer Price is 1,000 Euro or more and the amount cannot be more than 12,500 Euro per lot
The amount is calculated as follows:
Royalty for the portion of the Hammer price (in Euro)
4.00% up to 50,000
3.00% between 50,000.01 and 200,000
1.00% between 200,000.01 and 350,000
0.50% between 350,000.01 and 500,000
0.25% in excess of 500,000
Invoices will, as usual, be issued in Pounds Sterling. For the purposes of calculating the resale royalty the Pounds Sterling/Euro rate of exchange will be the European Central Bank reference rate on the day of the sale.
10. Electrical Goods
These are sold as ‘antiques’ only and if bought for use must be checked for compliance with safety regulations first by a qualified electrician.
If you have not previously bid or consigned with CEFA then please attach copies of (i) photo ID (ii) proof of address (ie.utility bill) or, if a company, a copy of the certificate of incorporation. Other business entities such as off-shore companies, trusts or partnerships are asked to call our office on +44(0)1765 688940 for advice on the requisite identification documentation required to submit a bid.
If you are registering to bid on behalf of a third party then you will have to provide the copy doc-uments referred to above for that third party and a signed letter of authorisation to so bid. We may ask for a bank reference from you if you have not bid before at any CEFA sale, have not bid for two years or significantly increase your maximum bid if you are an existing buyer with CEFA.
If you are unable to attend the sale and bid in person you may leave a commission or absentee bid, bid on the internet and or bid by telephone.
12. Commission or Absentee Bidding
We will be pleased to execute a bid on your behalf if you are unable to attend the sale and for which we would ask you to complete the ‘Bidding Form' indicating the maximum amount to be bid excluding the buyer’s premium. All bids must be submitted in writing in good time and lots will always be purchased for you as cheaply as possible, having regard for the reserve and compet-ing bids. The service is offered free of charge. Please see our Terms of business for further infor-mation.
13. Internet Bidding
You can bid at our sales through the online bidding facility
You will need an internet connection, but through live internet bidding you will be able to follow and watch the progress of the auction as it happens from anywhere in the world and place bids as lots come up for sale.
You will need to register by following the steps of the link, where you can find instructions on the process which are easy to follow.
There is a 3% charge, plus VAT, when using this facility.
PLEASE NOTE: Registering with our online bidding service provider does not automatically register you with us.
14. Telephone Bidding
If you wish to bid by telephone, please complete the ‘Bidding Form’ at the rear of the catalogue. Please return this to the office 24 hours in advance of the sale. It is a discretionary service and will not necessarily be available for bids on all lots. It is your responsibility to check your bid has been received. Please see our Terms of Business for further information.
PLEASE NOTE: We wish to remind our bidders that because we are based in a rural area, we oc-casionally experience technical failings on our telephones and internet connection. CEFA will not be responsible for any failings in the preview, exhibition and/or sale of a lot resulting from any technical failings on telephone and/or internet connections.
15. Methods of Payment
Successful purchasers will be sent an invoice the day after the sale. That invoice should be paid upon receipt to allow us to receive cleared funds within seven days of the sale. At the time of settlement of the invoice it is important that you advise us when you intend to collect your purchase. If payment is not received within seven days from the date of the sale, interest will be charged at a rate not exceeding 1.5% per month on the total amount due to the extent it remains unpaid for more than 3 working days after the sale.
If you wish to collect your purchase on the day of the sale, it must be paid for in full.
We accept payment by:
- Cash. Payments of up to £10,000 can be made at the cashier’s office, either during or after the sale
- Cheque. All sterling cheques should be drawn on a UK bank and made payable to CEFA Ltd. A cheque will need to have cleared before the removal of the goods is permitted.
- Debit and Credit Cards. Payments can be made by Switch, MasterCard and Visa cards. If the purchaser is unknown to us and wishes to pay with one of these cards they must present suitable photographic identification.(Credit card payments will be subject to a surcharge of 3.5% of the total amount payable.)
- Bank Transfer, either BACS or Swift payment if abroad.
CEFA is able to offer advice on the delivery and shipment of purchases. Buyers are reminded that it is their responsibility to comply with UK export regulations and with any local import requirements. The denial of any licence required or delay in obtaining such a licence cannot justify the cancellation of the sale or any delay in making payment of the total amount due.
Collection and Storage
Please note the terms in our Conditions of Sale for collection and storage. It is important that goods are paid for and collected promptly since any delay may involve the buyer in paying our removal and storage charges.