TERMS AND CONDITIONS Viewing Day is Fridays from Midday til 5pm. Auction Day is every Saturday 10am til 4pm (in house and online live bidding) Collection Days are Sunday 10am til 1pm on a pre-arranged collection time arranged between New2Antique Auctions Ltd and the buyer, & Monday 10am til 4pm. Sellers fees: 25% sellers commission + £0.50 Lotting Fee per item (Discounts and Trade terms can be agreed subject to discussion of Quantity and Value) Function Testing for Electrical Items is available for £3 per item. These items will be sold as function tested allowing us to achieve a better sales price. All commission and charges subject to VAT. Terms and Conditions Live Auction Internet Bidding COMMISSION & ABSENTEE BIDDING ON ITEMS WILL NOT BE ACCEPTED AFTER 09:00 AM ON THE DAY OF THE AUCTION FULL CONDITIONS OF SALE The conditions set out below are the terms on which New2Antique Auctions Ltd, as auctioneers, contract with sellers and, as agent acting on behalf of sellers, with buyers. Buyers and sellers should read the conditions carefully, together with the explanation of cataloguing practice. This notice and conditions of sale apply to all sales.
FULL CONDITIONS OF SALE CONCERNING BUYERS. THE AUCTIONEER AS AGENT. As auctioneers, we act as agent for the seller. Unless otherwise agreed, sales of goods at our auctions result in contracts made by the seller, through our agency, with the buyer. As such, we are not responsible for any default by the seller or the buyer. THE BUYER. (a) Bidding is by ‘P’ number only. Prospective bidders must complete a registration form, absentee bid form or telephone bid form and provide identification if required before making a bid at auction. Any person who, nonetheless, makes a bid at a sale will be deemed to have accepted and agreed these Conditions, and the terms of any Notices and other conditions in the catalogue, whether or not they have delivered a completed Registration form, Absentee bid form or Telephone bid form. (b) Items sold at auction are generally of some age. Accordingly, lots are sold on an ‘as is’ basis, subject to all faults, imperfections and errors of description. Prospective buyers are strongly advised to examine personally any goods in which they are interested, before the auction takes place. We provide no guarantee to the buyer other than in relation to forgeries, as explained in clause 12 of these conditions of sale. We allow electrical items listed as ‘function tested’ to be returned by the Friday of each week, these will then be inspected for any accidental damage before deciding a suitable solution. A solution may be a partial refund, full refund or classed as no refund if found to be in a condition not as purchased. Many items are of an age or nature which precludes them being in perfect condition. The catalogue description is for guidance only and does not imply an item is free from defects nor does a reference to a specific defect imply the absence of others. (c) Bidding as Principal; When making a bid, prospective buyers will be accepting personal liability, unless it has been agreed in writing, at the time of registration, that a bidder is acting as agent on behalf of a third party acceptable to us. Buyer’s details cannot be changed once the invoice is printed at the end of the sale. (d) The buyer shall be the highest bidder acceptable to the Auctioneers and the Auctioneers shall have absolute discretion to settle any dispute. (e) New2Antique Auctions Ltd reserve the right at their absolute discretion, to refuse admission to their premises or attendance at their sales, without giving any reason therefore.
CATALOGUE DESCRIPTIONS. (a) While every care has been taken by New2Antique Auctions Ltd in the preparation of our catalogue, any statement as to authorship, attribution, origin, date, age, size, medium, weight, provenance, condition or estimated selling price is a statement of opinion of the seller or of New2Antique Auctions Ltd and is not to be taken as a statement or representation of fact. (b) Catalogue illustrations are for guidance only, and should not be relied on to determine the tone or colour of any item or to reveal imperfections. Descriptions as to the condition of any lot, whether in the catalogue, written condition report or given orally are for guidance only and the absence of any reference does not imply that a lot is free from defects. Many items are of an age or nature which precludes them being in perfect condition. The catalogue description is for guidance only and does not imply an item is free from defects nor does a reference to a specific defect imply the absence of others. (c) Buyers are responsible for satisfying themselves concerning each and every aspect of the lot, including the condition, authorship, attribution, provenance, authenticity, age, suitability and origin, and matters referred to in the catalogue description prior to bidding at the auction. (d) Explanation of Catalogue Terms: The following terms used in the Catalogue have the following meanings but are subject to the general provisions relating to descriptions of lots contained in the Conditions of Sale:
BUYER’S PREMIUM. (a) In addition to the hammer price, a buyer’s premium of 15% (together with any VAT chargeable there on) is payable by the buyer. Minimum buyers commission £1 plus vat (b) Additional Buyer’s Premium for lots purchased via www.easyliveauction.com . All lots purchased online (live bidding) will attract an additional charge for this service (over and above the above stated 15% buyer’s premium) in the sum of 3% of the hammer price. In completing the bidder registration and providing credit card details and unless alternative arrangements are agreed with New2Antique Auctions Ltd the prospective bidder: (i) authorises New2Antique Auctions Ltd, if they so wish, to charge the credit card given in part or full payment, including all fees, for items successfully purchased in the sale via easyliveauction.com, and (ii) confirms that they are authorised to provide these credit card details to the New2Antique Auctions Ltd through this site and agree that New2Antique Auctions Ltd is entitled to ship the goods to the card holder name and cardholder address provided in fulfilment of the sale. VALUE ADDED TAX. (a) Value Added Tax is always payable on the premium. It may also be payable on the Hammer Price, if the Lot has been marked with a sign to that effect in the catalogue. VAT is charged at the rate applicable on the day of sale. VAT is charged at 20% as of 1st January 2011 unless otherwise stated. All lots sold are subject to the Auctioneers VAT Margin scheme. Revenue regulations require that the buyer’s premium must be invoiced at a rate that is inclusive of VAT. The VAT is not recoverable by any business buyer.
ABSENTEE BIDDING. (a) Commission (Absentee) Bids. If a prospective buyer gives us instructions to bid on his/her behalf, by using the form available at reception we shall use reasonable efforts to do so, provided these instructions are received not later than 2 hours before the sale. (i) In order for us to accept an absentee bid(s) or telephone bids we will require details of a valid credit or debit card, including the issue number (if applicable), start and end dates and the last three digits of the security number on the reverse. Without these details we may not accept the bid. Prospective bidders can either email us by return (and may use more than one email for security) or, call the saleroom office. (ii) If bids are successful buyers accept that New2Antique Auctions Ltd will charge this card for the total amount due within three working days of the sale. To pay by another card or alternate method of payment the buyer must contact the office as soon as possible after the sale (and within two days) to advise us. (iii) You must also contact us within two days of the sale to let us know whether you would like your purchases shipped. New2Antique Auctions Ltd can package and post most items. Our fees are subject to size, weight and value. For larger items, such as furniture, we would ask that you contact a courier - we can recommend several if you call the office. A separate charge for postage will be debited from this card if applicable. (iv) Card details will be kept secure, in compliance with the Data Protection Act 1998, and will not be kept for any longer than is necessary. (b) If we receive commission bids on a particular Lot for identical amounts, and at auction these are the highest bids for the lot, it will be sold to the person whose bid was received first. Since this service is undertaken as a free service to prospective buyers on the terms stated, we cannot accept liability for failure to make a commission bid. Prospective buyers should therefore always attend personally if they wish to be certain of bidding. (c) All bids made by New2Antique Auctions Ltd on behalf of the prospective buyer will be made at the lowest level possible subject to reserves and other bids made for the lot. Where appropriate the bids will be rounded down to the nearest amount consistent with the auctioneer’s bidding increments. (d) New2Antique Auctions Ltd accept no responsibility to anyone in connection with the commissioning by intending buyers of any of their employees to bid for lots on behalf of such intending buyers. (e) Telephone Bids. If prospective buyers for a lot make arrangements with us not less than two hours before the sale, we shall use reasonable efforts to contact the bidders to enable them to participate in the bidding by telephone as the sale takes place, but in no circumstances will we be liable to either the seller or any prospective buyer as the result of failure to do so. New2 Antique Auctions Ltd recommend that a covering absentee bid is also left in case of communication difficulties. .
CONDUCT OF THE SALE: (a) The auctioneer has the right to advance the bidding at his absolute discretion and reject any bid, divide any lot, combine any two or more lots, withdraw any lots from the sale, vary the order in which lots are offered for sale and, in the case of error or dispute, put a lot up for bidding again, without in any case giving previous notice or any reason therefore. (b) Subject to the auctioneer’s discretion, the fall of the hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Seller and the Buyer. PAYMENT. (a) Upon sale of the lot the buyer shall pay the total amount due (comprising the Hammer price, the Buyer’s premium, any applicable value added tax and any other applicable charges) to New2Antique Auctions Ltd within 48 hours following the conclusion of the sale. (b) Upon making such payment, and said payment having cleared, the buyer shall remove the lot purchased from New2Antique Auctions Ltd premises at his/her own expense within 48 hours after the sale. (c) No lot purchased shall be removed while the sale is in progress unless at New2Antique Auctions Ltd express discretion. New2Antique Auctions Ltd request that purchasers wait until the end of the sale to collect items. Purchases will only be released when payments have cleared. Unless we specifically agree to the contrary, New2Antique Auctions Ltd shall retain items sold until all amounts due to us have been paid in full. (d) If so required by New2Antique Auctions Ltd, the buyer shall give his /her name and permanent address together with his/her bank or other suitable references, and any other proof of identity as New2Antique Auctions Ltd may at their absolute discretion require. (e) The buyer may be required to pay down forthwith the whole or in any part of the total price, and if he/she fails to do so any lot or lots bought by him/her may, at the auctioneer’s absolute discretion, be offered again for resale at any time before the conclusion of the auction. (f) All payments by bank transfer, etc must be made in pounds sterling. Drafts should be made payable to ‘New2Antique Auctions Ltd’. No Cheques accepted for payment. (g) There is no surcharge for Switch and UK debit card/mastercard/VISA payments. Non UK debit cards are subject to a 3% surcharge. We do not accept American Express. Credit and Debit card payments can be cleared immediately subject to confirmation with the card issuer. We cannot accept debit or credit card transactions for transactions with a value of less than £10 sterling, which must be paid in cash.
RESPONSIBILITY FOR PURCHASED LOTS. (a) At the fall of the hammer, risk in the lot sold shall pass to the buyer, and none to the seller, New2Antique Auctions Ltd, their servants or agents. (b) At the fall of the hammer the buyer shall be responsible for any loss, omission or damage whether caused by negligence or otherwise. (c) Ownership in the lot shall not pass to the buyer unless and until payment of the total amount owed has been received by New2Antique Auctions Ltd. A cheque given by the buyer in payment shall not be treated as a receipt until the same has been cleared. (d) Any packing and handling of purchased lots by the New2Antique Auctions Ltd staff is undertaken solely as a service to buyers and will only be undertaken at the buyer’s sole risk. The Auctioneers shall not be liable in any event for damage to glass, mirrors or frames, irrespective of cause. (e) Buyers are advised to obtain insurance in respect of a lot, and to arrange for collection, as soon as possible after the sale. Storage Charges: (i) Any items not collected by the Monday Evening (48 Hours) following the sale, whether or not payment has been made, will be subject to a storage charge at the buyer’s expense of £5 per invoice per day until collected by the buyer (up to a MAXIMUM of 25 days storage.) New2Antique Auctions Ltd will only release the items purchased after payment has been made in full of storage, removal, insurance and any other costs incurred, together with all other amounts due to us. (ii) New2Antique Auctions Ltd will store purchases (whether paid for or not) for a MAXIMUM of 25 days following the conclusion of a sale. If the items remain uncollected at this time, the lot(s) shall be re-entered on behalf of the buyer into the next suitable sale and shall be sold with no reserve. If this results in a lower price being obtained, New2Antique Auctions Ltd shall claim the balance from the Buyer together with any costs incurred in connection to the Buyer’s failure to make payment (as set out in section: (c) (iii) above.)
REPRESENTATIONS AND STATEMENTS. We have an obligation to refund the buyer in the circumstances set out in clause 12. However, neither the seller nor we, nor any of our employees or agents, are responsible for the correctness of any statement as to the authorship, origin, date, age, attribution, genuineness or provenance of any Lot, nor for any other errors of description or for any faults in any Lot. These are statements of opinion only and not fact. New2Antique Auctions Ltd are not liable for any omissions in the catalogue. Any warranty of any kind whatsoever is excluded by this clause. All lots are sold with all faults and imperfections and errors of description. Buyers should satisfy themselves as to the condition of any lot before bidding for it. REFUND IN THE CASE OF FORGERIES. A sale will be cancelled and the amount paid refunded to the buyer if a Lot sold by us proves to have been a forgery. We shall not however be obliged to refund any amounts if either (a) the catalogue description at the auction date corresponded to the generally accepted opinion of scholars or experts at that time, or fairly indicated that there was a conflict of opinions; or (b) it can be demonstrated that the lot is a Forgery only by means of either a scientific process not generally accepted for use until after the publication of the catalogue or a process which at the date of the auction was unreasonably expensive or impracticable or likely to have caused damage to the Lot. Furthermore, the Buyer should note that this refund can only be obtained if the following conditions are met; (a) within one month of the sale of the Lot the Buyer gives notice to New2Antique Auctions Ltd in writing that the lot purchased by him/her through New2Antique Auctions Ltd is a forgery (as herein defined); (b) the buyer returns the lot to New2Antique Auctions Ltd in the same condition as it was at the time of the auction accompanied by written proof of forgery, the number of the lot, and the date of the auction at which it was purchased; and (c) the buyer proves to New2Antique Auctions Ltd reasonable satisfaction that the lot is a forgery and that he/she is able to transfer a good title thereto free from any liens, charges or encumbrances; and (d) the buyer demonstrates to New2Antique Auctions Ltd reasonable satisfaction that the lot alleged by him to be a forgery is the lot actually purchased by him/her through New2Antique Auctions Ltd. In no circumstances shall we be required to pay the buyer any more than the amount paid by him/her for the Lot concerned and the buyer shall have no claim for interest. The benefit of this condition is not capable of being transferred, and is solely for the benefit of the person to whom the original invoice was made out by us in respect of the Lot when sold and who, since the sale, has remained owner of the Lot without disposing of any interest in it to any third party. New2Antique Auctions Ltd shall be entitled to rely on any scientific or other process to establish that the lot is not a Forgery, whether or not such a process was used or in use at the date of the auction. This condition does not apply to coins, medals or jewellery. ESTIMATES. New2Antique Auctions Ltd makes no representations or warranties as to the anticipated selling price of any item or property. No estimates anywhere made by New2Antique Auctions Ltd, its servants or agents, whether in writing or orally, may be relied upon as a prediction of the actual selling price. Estimates in catalogues, receipts and elsewhere are subject to revision by New2Antique Auctions Ltd from time to time in the exercise of its sole discretion. REFUNDS. New2Antique Auctions Ltd agree to refund the hammer price and the Buyer’s premium to the buyer on the buyer claiming that the seller did not have the right to sell subject to the following conditions; the buyer was acting in good faith; and New2Antique Auctions Ltd has been prevented from giving possession of the lot to the buyer or the buyer has given up possession of the lot in either case by virtue of a Court Order (including Interlocutory Order) of a court of England and Wales made at the instance of any third party claiming to be the true owner; or the buyer has given up possession of the lot to the police in connection with any investigation into the theft of the lot; and if New2Antique Auctions Ltd refund the hammer price under this clause then should it transpire the buyer obtained title at auction, title vests in New2Antique Auctions Ltd. Any claim by a buyer against New2Antique Auctions Ltd whether under any of these conditions or otherwise arising out of the sale of any lot shall be limited to the amount (if any) paid by the buyer in respect of such lot and shall not extend to any consequential or other loss or damage or expense suffered by the buyer. ELECTRICAL AND MECHANICAL GOODS. All electrical goods can be function tested if required by the customer to ensure they are without defects unless stated. All untested/spares&repairs electrical goods are sold as buyer beware.
DATA PROTECTION. For the purposes of the Data Protection Act 1998 the data controller is New2Antique Auctions Ltd of 1 Sheep Street, Kettering, NN16 0AN. New2Antique Auctions Ltd will not disclose your personal data to any third party outside our group for the purposes of direct marketing.
LAW AND JURISDICTION. These Conditions of Sale are subject to English Law, which shall apply to their construction as well as to their effect. For our benefit, the buyer and the seller submit to the exclusive jurisdiction of the English courts.
FULL CONDITIONS OF SALE / TERMS OF CONSIGNMENT CONCERNING SELLERS. The conditions set out below are the terms on which New2Antique Auctions Ltd, as auctioneers, contract with sellers and, as agent acting on behalf of sellers, with buyers. Buyers and sellers should read the conditions carefully, together with the explanation of cataloguing practice. SELLER’S WARRANTIES. The seller warrants to New2Antique Auctions Ltd and to the buyer that, at all relevant times hereunder, including without limitation the time of sale, (a) The seller is the true owner of the property, or is properly authorised to sell the property by the true owner and is able to and shall in accordance with these conditions transfer possession and good and marketable title to the property free from any third party claims (including without limitation any claims of governments or governmental agencies with respect to the property), liens or encumbrances; (b) The seller has provided New2Antique Auctions Ltd with all information the seller has concerning the provenance of the property; (c) Unless the seller advises New2Antique Auctions Ltd in writing to the contrary at the time the property is delivered to New2Antique Auctions Ltd, that there are no restrictions, copyright or otherwise, relating to the property or on New2Antique Auctions Ltd rights to reproduce photographs of the property and the seller gives New2Antique Auctions Ltd full and absolute rights to photograph and illustrate any lot consigned to a New2Antique Auctions Ltd sale. The auctioneer retains copyright in all photographs taken and illustrations made by New2Antique Auctions Ltd . (d) For property not held on New2Antique Auctions Ltd premises or under its control, that such property will be available and in a deliverable state at the time the buyer is entitled to take possession of the lot in accordance with these Conditions. (e) Unless the seller of electrical or mechanical goods advises New2Antique Auctions Ltd in writing to the contrary at the time the property is delivered to New2Antique Auctions Ltd, such goods are safe if reasonably used for the purpose for which they were designed and are free from any defect not obvious on external inspection which could prove dangerous to human life or health, (f) Unless the seller advises New2Antique Auctions Ltd in writing to the contrary at the time the property is delivered to New2Antique Auctions Ltd, the property has been properly and legally imported into the European Union and all taxes or duties on importation into the European Union have been paid. (g) Neither the seller on his own behalf, nor any other person on the seller’s behalf except the auctioneer, may make any bid in respect of lots of which the seller is the owner. (h) Instructions regarding lots will only be accepted from the seller, which in this instance shall be taken as the person named on the receipt / entry form.
BUYER’S COMMISSION AND LOTTING FEES. A charge of £0.50 (plus vat) per sale is payable for every individual lot entered into a sale. These charges are payable whether an item sells or not. If an item sells, in addition to the lotting fee, a seller’s premium at the rate of 15% of the hammer price of each lot (together with any Value Added Tax chargeable thereon) is also payable by the seller to New2Antique Auctions Ltd. All Electrical goods are subject to a charge of £3 per lot for a function test. These charges will be deducted after the sale, and indicated on the seller’s post-sale statement. The seller acknowledges that New2Antique Auctions Ltd will receive from the buyer commission at their usual rates, on the sale of any lot, in addition to the said premium and assents to New2Antique Auctions Ltd receiving the said commission. RESERVES. (a) All goods are automatically offered for sale WITHOUT RESERVE unless specifically agreed in writing with New2Antique Auctions Ltd before the sale. (b) The reserve, if any, should be clearly written on the receipt for the items at the time of New2Antique Auctions Ltd receipt of the goods. New2Antique Auctions Ltd will be happy to suggest if a reserve would be appropriate on a seller’s items. (c) The reserve, if any, will only apply to the first sale in which the item is entered. Where no reserve is listed, New2Antique Auctions Ltd may sell the items at any price. (d) Where a reserve has been applied to a lot, the auctioneer may, on behalf of the seller, place bids (up to an amount not equalling or exceeding such reserve). New2Antique Auctions Ltd may at its option sell at a hammer price below the reserve at a discretion of between 10% and 20%.
ENTERING ITEMS FOR SALE. (a) Where a representative for the auctioneers has viewed an item in person, we will issue a written receipt briefly describing the item(s), and suggest whether a reserve is appropriate for the item(s). (b) Sellers are required to sign and date a copy of the entry form and agree to our terms and conditions. When entering items for sale the seller agrees that the description of the items on the receipt is to their satisfaction, sufficient to identify the lot and, to the best of their knowledge, a true representation of the item(s) left in the auctioneer’s possession. It is the responsibility of the seller to inform New2Antique Auctions Ltd of any omissions, errors or inaccuracies on the entry form. (c) No Items from a seller will be accepted via courier or post unless pre-approved by the management at New2Antique Auctions Ltd.
ITEMS POSTED OR DELIVERED TO New2Antique Auctions Ltd New2Antique Auctions Ltd accept no responsibility for items intended for our Auction posted to New2Antique Auctions Ltd or delivered by Courier. It is the senders responsibility to reclaim any items sent to us. RISK OF LOSS OR DAMAGE / INSURANCE COVER AND RISK. Loss and Damage Warranty - New2Antique Auctions Ltd is not regulated by the FSA for the provision of insurance to its clients. The seller assumes the risk of loss or damage to the property from the time of New2Antique Auctions Ltd receipt of such property until risk of loss or damage to the property passes on to the buyer.
PREPARATION FOR SALE. (a) New2Antique Auctions Ltd has sole and absolute discretion regarding the grouping of property into Lots, providing catalogue and other descriptions, the date of the auction(s) and the manner of conducting each sale. (b) Where lots with reserves have been combined or divided, New2Antique Auctions Ltd shall combine or divide the lots in such a way that should all the lots sell at their agreed reserve price, the seller would receive no less than the full amount of the original combined reserve agreed (less any applicable commission, charges and VAT). (c) The seller authorises New2Antique Auctions Ltd to undertake any tests, researches or enquiries or to consult and rely on any outside experts, consultants or restorers in relation to the property as New2Antique Auctions Ltd may, at their absolute discretion, deem appropriate. UNSALEABLE GOODS. (a) All goods delivered to their premises or collected on New2Antique Auctions Ltd behalf, will be considered as for entry for sale at auction, unless otherwise instructed by accompanying or previously received written notice. Items which in New2Antique Auctions Ltd opinion have no saleable value will be disposed of at the auctioneers sole discretion either to a charity or by consignment for destruction. It shall be assumed that the seller agrees to such disposal, and that no prior notice of such disposal will necessarily be given. New2Antique Auctions Ltd reserve the right to charge the seller for costs incurred for the disposal of such items. (a) Soft furnishings: The sale of soft furnishings is strictly regulated by statute law in the interests of fire safety. Goods found to infringe safety regulations will not be offered and must be removed at your expense. New2Antique Auctions Ltd reserve the right to dispose of unsafe goods as refuse, at your expense and without further reference to the vendor. The minimum fee is £20+vat per item. (a) The rights of disposal referred to above are subject to the provision of the Torts (Interference with Goods) Act 1977, Schedule 1, a copy of which is available for inspection on request.
PRIVATE SALES. If a lot fails to reach its reserve, the seller authorises New2Antique Auctions Ltd, as the seller’s exclusive agent, for a period of forty days following the auction to sell the lot privately for a price that will result in a payment to the seller not less than the net amount (after payment to New2Antique Auctions Ltd of the seller’s commission, buyer’s premium and expenses) to which the seller would have been entitled had the lot been sold at a price equal to the reserve. UNSOLD LOTS. (a) Where any lot fails to sell at auction or privately as set forth as above, the seller shall make arrangements in writing either to re-offer the lot for sale or to arrange collection or transporting of the item(s) WITHIN 3 days following the sale. (b) For unsold items being re-offered in the next sale the reserve price (if any) will automatically be dropped by 20% or the nearest lower bid for the next sale, unless specifically agreed with the seller to the contrary in writing with New2Antique Auctions Ltd. (c) If the seller does not wish to enter items into a second sale, the seller can collect the item (s) at any time, but storage charges of £1 per lot per day will be charged from the THIRD working day following the last sale in which the lot(s) were entered. (d) Storage: Lots unsold after two sales must be collected within 3 days of the end of the second sale. (e) If the seller fails to make arrangements for resale or collection within THREE working days following the items’ sale, New2Antique Auctions Ltd shall charge the seller storage fees of £1 per lot per day (plus VAT) until collected and shall have the right to: (i) Remove the lot to an independent storage facility, for which the seller shall assume all risks and responsibilities; or (iii) To re-offer the property at public auction WITH NO RESERVE and to deduct from the hammer price any sum owing to New2Antique Auctions Ltd including without limitation, removal, storage and insurance expenses, the expenses of both auctions and all other reasonable expenses before remitting any excess to the seller. (f) If any item(s) is un-saleable by virtue of failing to attract a bid we will have absolute discretion to dispose of that item and charge for the service. WITHDRAWN LOTS. (a) A minimum charge of £5 per withdrawn lot or 10% of the reserve price (whichever is the greater) will be payable by the seller. The seller must inform New2Antique Auctions Ltd of their decision to withdraw a lot IN WRITING, by post or E-mail. Instructions regarding lots will only be accepted from the person named as seller on the receipt / entry form. (b) The seller may not withdraw property from the sale if instructions are received after 4:00pm on the Thursday prior to the sale. (c) If a seller withdraws an item before the first sale in which it has been entered, a penalty charge of 10% (plus VAT) of the reserve price will be payable to New2Antique Auctions Ltd and will not be waived. (d) New2Antique Auctions Ltd may withdraw lots from the sale without any liability to the seller if New2Antique Auctions Ltd believes that (i) there is doubt as to its authenticity or attribution, (ii) any of the seller’s representatives or warranties are inaccurate in any way, or (iii) the seller breaches any provisions of the conditions of sale. PAYMENTS & SETTLEMENT DATE. On the settlement date, (up to 35 days after the completion of the sale) proceeds of sales will be bank transferred to the sellers nominated bank on their registration form. If the buyer pays after the settlement date, New2Antique Auctions Ltd will bank transfer the net sale proceeds to the seller within ten working days of New2Antique Auctions Ltd receipt of cleared funds. No Cash or cheques will be issued. OBLIGATION REGARDING LOTS SOLD. If the buyer fails to pay New2Antique Auctions Ltd the total amount due on or by the settlement date the seller authorises New2Antique Auctions Ltd at the seller’s expense to pursue any one or more of the following courses; (a) to agree special terms for payment of the total amount due, (b) to remove and store the lot sold, (c) to settle claims made by or against the buyer on such terms as New2Antique Auctions Ltd shall decide at their absolute discretion (d) to take such steps as are necessary to recover the monies due by the buyer to the seller and, if necessary, to rescind the sale and refund the money to the buyer. Without being under any obligation to do so, New2Antique Auctions Ltd shall endeavour to notify the seller of the buyer’s failure to pay prior to exercising its authority as granted in the preceding sentence. New2Antique Auctions Ltd has no obligation to collect payment from the buyer, nor to undertake legal proceedings. The seller authorises New2Antique Auctions Ltd to retain any handling, removal, storage, insurance and interest fees collected from the buyer or defaulting buyer. If the buyer fails to pay the total amount due and New2Antique Auctions Ltd remits an amount equal to the net sale proceeds to the seller, ownership of such lot shall pass to New2Antique Auctions Ltd, which shall have the benefits of the sellers agreements, representations, warranties and indemnities set forth in these conditions. New2Antique Auctions Ltd are under no obligation to disclose the identity of either buyer or seller of any lot. ESTIMATES. New2Antique Auctions Ltd makes no representations or warranties as to the anticipated selling price of any item or property. No estimates anywhere made by New2Antique Auction Ltd , its servants or agents, whether in writing or orally, may be relied upon as a prediction of the actual selling price. Estimates in catalogues, receipts and elsewhere are subject to revision by New2Antique Auction Ltd from time to time in the exercise of its sole discretion. LAW AND JURISDICTION. These Conditions of Sale are subject to English Law, which shall apply to their construction as well as to their effect. For our benefit, the buyer and the Seller submit to the exclusive jurisdiction of the English courts. The above Conditions and all notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statements modifying or affecting the same made by the auctioneer from the rostrum prior to any bid being accepted for the lot.
