Terms of Business
The following is a brief guide to our principal terms of business applicable to all sales. The full terms and conditions of sale can be found on our website using this link, or if requested, in hard copy at our showroom or relevant sale venue. All sales are subject to our full terms and conditions without exception.
Vendors Commission15% of the hammer price on each lot on all sales up to £3000 and 10% of the hammer price above.
The minimum commission whether sold or unsold is £25.00 per lot.
It is very important that all Vendors advise the Auctioneers of any reserve price they wish to place on their goods but advice on such reserves will always be discussed and agreed. Goods with no reserve will be sold at the highest price obtainable at the particular sale at which they are entered. All reserves are FIXED.
Goods which fail to sell and which you do not wish to be re-offered will be stored free of charge for fourteen days, after which time a storage and handling charge of £5.00 per lot per day will be applied.
The fee for cancelling a sale or for withdrawal of goods prior to the sale is 20% of the lower auction estimate or the reserve, plus any costs incurred.
Loss and Damage
Unless otherwise instructed in writing, the Auctioneers will hold all goods on their premises and in their custody against the risk of breakages, fire, burglary and water damage, subject to their own warranty for which they will charge 1.5% per £100 (min. £1). The Auctioneers shall not be held responsible for the loss, damage, theft or destruction of any goods not so covered. In the event of a claim any settlement figure shall be based on the lower auction estimate.
No charge will be levied unless specifically agreed with the client.
Illustration charges to be agreed with clients before publication, charges range from £30 for a composite shot to £160 for a full page, plus a web illustration charge of £5 per lot.
The “net sale proceeds” received from Buyers in cleared funds will be forwarded to Vendors no later than 28 working days after the Auction. Where Buyers make a payment 23 days after the Auction we shall send to the Vendors the “net sale proceeds” within 5 working days of receipt of cleared funds. The “net sale proceeds” are the hammer price less commission and expenses set out in the full Terms and Conditions of Sale. Vendors waive any right to interest that may be earned during the period from payment by Buyers to the receipt of the “net sale proceeds” by Vendors.
The Auctioneers act throughout as agents only and are NOT responsible for any default by Buyers. They disclaim liability for paying Vendors until they have received full settlement from Buyers.
Value Added Tax at the prevailing rate is payable on all commissions, premiums and charges. The Auctioneer’s Margin Scheme allows Auctioneers to sell items without VAT on the hammer price and under the scheme we are no longer allowed to separate out the VAT for the Vendors’ Commission or Buyers’ Premium.