Lanes & Co Group Limited
16 Shakespeare Street, Newcastle, NE1 6AQ
TERMS & CONDITIONS
2. Definitions
When buying or selling with Lanes & Co via an auction at Lanes & Co the alloated auctioneer will
only act as an agent.
3. General
Whilst every effort is made to ensure the accuracy of the catalogue and the description of any lot
a) Each lot is sold by the vendor with all faults, imperfections and errors of description
b) Lanes & Co do not accept responsibility for the attribution, genuineness, authenticity,
origin, authorship, date, age, period or condition of any lot, unless they have been instructed in
writing by the vendor and are not themselves responsible for such claims
c) Any statement provided by Lanes & Co verbally or printed in our catalogue as to any matter in (b)
above are statements of opinion this can not be used as warranty when purchasing goods from
auction. Certifications will be detailed in our catalogue if provided by vendors.
d) All measurements and weights are approximate and should be verified by the intending
purchaser. Assumptions made on the purchasers behalf without confirmation will not be accepted
after the auction as a reason to return.
e) Any claim under Statute must be received in writing by the Auctioneer within ten days of
the day of the sale.
vi) The seller warrants to the Auctioneer and the buyer that the seller is the true owner of
the property or authorised by the true owner to consign it for sale and is not held under a Hire
Purchase Agreement, Bill of Sale or another legal document.
4. The Auction
a) Our Auctioneers have complete discretion to divide any lot, to combine any two or
more lots or to withdraw any lot or lots from the sale, to refuse bids, regulate bidding
or cancel the sale without in any case giving any reason or without previous notice.
They may bid on behalf of the seller for all goods which are being offered subject to
reserve or at the auctioneer’s discretion.
ii) The highest bidder shall be the buyer except in the case of dispute. If during the auction
a dispute has arisen, the Auctioneer has complete discretion to settle it or to re-offer the lot. The
Auctioneer may at their sole discretion determine the increments of bidding or refuse bids at any
point.
iii) If a lot is subject to reserves, our auctioneers may bid on the sellers behalf.
iv) All descriptions, conditions, notices, statements and other matters in the catalogue and
elsewhere concerning any lot are subject to any statement modifying or affecting the sale made by
the Auctioneer from the rostrum prior to any bid being accepted for the lot.
5. Forgeries
Notwithstanding any other terms of these conditions – if within seven days after the sale Lanes & Co
have received from the buyer of any lot notice in writing that in his view the lot is a deliberate
forgery and stating the grounds on which he takes that view, and that within fourteen days after
such notification the buyer returns the lot to Lanes & Co in the same condition as at the time of sale,
and in doing so satisfies Lanes & Co that the lot is a deliberate forgery then the sale of the lot will be
rescinded and the purchase price of the same refunded.
6. Default.
Lanes & Co act as agents only and disclaim any responsibility for default by the vendor or buyer.
They act as agents for the vendor only and therefore do not pay out to the vendor until payment is
received from the buyer. Instructions given by telephone are accepted at the sender’s risk and must
be immediately confirmed in writing.
7. Sale by Private Treaty.
Both the vendor and the buyer agree to be bound by the Terms and any Special Conditions of Sale.
CONDITIONS OF SALE APPLICABLE TO BUYERS
1. Inspection
In the days approaching each auction opportunity is given to each buyers to inspect or raise a
conversation. By making a bid before or during a auction acknowledges that the bidder have
satisfied themselves fully with the current state of the lot including and damages, repairs or
restoration stated or not stated in the description.
9. Photographs/images.
Whilst care is taken to take accurate images they are intended for guidance only. Colours may vary.
10. Property and risk.
Legal title will not pass to the buyer until the lot has been paid for in full and the Auctioneers shall be
entitled to a lien on any lot sold until the purchase price (as defined in 12 below) is paid in full but
each lot is at the sole risk of the buyer from the fall of the hammer.
12. Payment & Removal of Goods
i) The successful bidder will be invoiced after the auction. They will be required to make payment
and collection within two working days of the auction unless agreed and documented otherwise by a Lanes
& Co representative. Failing which the auctioneer shall not be responsible if the same
are lost, stolen, damaged or destroyed and all lots not so removed shall remain at the
risk of the buyer and subject to a storage & late payment fee of 2% of the total invoice.
iii) In house shipping is available and small lots and our minimum fee is £10 for insured next day. If
postage is a in house shipping is a necessity for you please confirm this before bidding, if postage is
declined after the auction bidders will still be required to pay for the lot and make other
arrangements.
We do recommend a packing company called Mailboxes who are happy to provide quotes before
the auction. This can be carried out by phone or email – 0191 222 0018 –
[email protected].
13. Purchase Price and Charges
The buyer shall pay the hammer price together with the stated premium of that specific auction. The
vendor authorises the Auctioneer to deduct commission and expenses at the stated rates from the
hammer price and acknowledges the Auctioneers right to retain the premium payable by the
purchaser.
14. Online Bidding
Lanes & Co welcome online bidders through their own platform as well as Easy Live & Saleroom.
Lanes & Co ask you ensure all details are filled out correctly and you are confidently authorised
before the live auction begins. Lanes & Co are unable promise a registration will be approved during
the live auction. We also ask you are aware of each platforms terms and additional fees before
bidding.
Lanes & Co are not responsible for any issues on third platform and you must contact them direct.
Lanes & Co are also unable to autobids left leading up to the auction and conflict can happen as
platforms do not integrate with each other.
15. Commission Bids.
Our auctioneers are able to bid on behalf of buyers if notified in good time before our live auction. A
maximum bid must be provided we will not bid on behalf of a bidder without.
17. Withdrawal of Lots. Vendors who withdraw items from the sale after catalogues have been
prepared will be charged a withdrawal fee of 10% + VAT of the reserve price or estimated sale value.
Any items withdrawn must be collected within 7 days or be subject to a storage charge of £1 per lot
per day, and will not be released until this fee has been paid.
18. Electrical and Mechanical Goods.
Lots which were originally operated by mains electricity/gas may not comply with current statutory
requirements and as such are offered for sale solely for display or historical purposes. Buyers should
not assume that they are suitable for connection to the mains supply. The buyer acknowledges that
Lanes & Co has not tested electrical or mechanical goods and that the buyer is solely responsible for
ensuring that such goods are tested by a suitably qualified person before use. Notwithstanding the
above all Electrical, Gas and Mechanical Goods entered for the general Auction sale must be in
perfect working order and comply with all safety regulations, or they will be disposed of without
notice. Full commission will be charged on goods sold which do not comply with these conditions.
19. Payments to Seller. Accounts exceeding £50 are remitted by post; under £50 are paid in cash at
the office. Payment is made seven working days after each general sale. Payment following
catalogue sales twenty one working days.
20. Artist's Resale Right is a royalty payable to a qualifying artist or the artist's heirs each time a
work is re-sold during the artist's lifetime and for a period up to 70 years following the artist's death.
An amount equal to the resale royalty will be collected from the buyer of a work of art covered by
these Regulations. This will then be passed to the relevant collecting agency. Royalties will be
calculated using a sliding scale of percentages of the sale price. For auction companies, the sale price
is the hammer price (i.e., the price without the premium). Resale royalties are not subject to VAT.
Resale royalty does not apply when the hammer price is less than an estimated €1,000. For full details see www.dacs.org.uk.
