Buyer's Information
Condition Reports / Additional images
We are more than happy to provide Condition Reports and additional images to Prospective Buyers. We request that condition report and additional image requests are submitted at least 24 hours prior to the sale and advise your request be submitted as soon as possible to ensure our team can respond accordingly. Our Condition Report is an honest expression of our opinion at M&M, not a statement of fact.
Inspection
Opportunity is given for inspection and each buyer that is making a bid for a lot acknowledges that they are satisfied themselves fully before bidding by inspection or otherwise to all the Sale Conditions, the physical conditions of the lot and description of the lot including and not restricted to whether the lot is damaged or has been repaired or restored. All statements relating to the lot, whether printed in the catalogue or made orally as to any of the matters set out above are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact be M&M unless they have been instructed in writing by the vendor to so as to certify. We accept no liability for the opinions expressed in any Condition Report. We politely advise that Items are therefore sold as seen.
Agents
M&M act as agent and auctioneer only for the seller. M&M appoint the auctioneer to act on theirs and the seller’s behalf. When buying at auction, the sale contact is between the buyer and seller, not the agent nor auctioneer. Seller’s details are strictly confidential.
Online Bidding
We offer an online bidding service via our own platform - M&M Live at www.bid.mm-auctions.com. Items purchased via this platform will be subject to no additional charges. We also offer online bidding via www.the-saleroom.com, i-bidder.com and www.liveauctioneers.com for prospective buyers who cannot attend the sale. Items bought via these platforms will be subject to an additional 5% commission charge on the buyer’s premium plus VAT.
Bidding on www.the-saleroom.com
By completing registration on www.the-saleroom.com and providing your credit/bank card details and unless alternative arrangements are agreed with us, you;
(a) authorise M&M, if they so wish, to charge the credit/bank card given in part or full payment, including all fees, for items successfully purchased in the auction via www.the-saleroom.com; and
(b) confirm that you are authorised to provide these credit/bank details to M&M through www.the-saleroom.com and agree that M&M are entitled to permit the shipping of the goods to the card holder and card holder address provided in fulfilment of the sale.
We do not accept any liability for any losses, however arising, as a result of a prospective buyer’s use of www.the-saleroom.com. Use of www.the-saleroom.com is subject to separate terms and conditions which do not form part of these conditions.
Telephone Bidding
Requests for telephone bidding must be registered at least one hour prior to the commencement of the auction. Telephone Lines are booked on a first-come, first-served basis. Whilst reasonable attempts will be made to execute telephone bidding, M&M will not be liable for any default or neglect in connection with this service. All such arrangements therefore are made entirely at the Prospective Buyer’s risk.
Absentee Bidding
Bidding requests can be made in writing via post or email. Whilst reasonable endeavours will be made to execute absentee bidding up to the Day of Sale, M&M will not be liable for any default or neglect in connection with this service.
VAT
Value added tax or any equivalent tax chargeable in the UK or elsewhere.
Methods of Payment
Payment is accepted by cash, debit or credit card, cheque or bank transfer. We politely advise we prefer bank transfer as payment method. All accounts must be settled within 14 days of the sale. Accounts not paid within 14 days will automatically be subject to a late fee and storage charge of £25 plus VAT.
Collection of goods
You may book an appointment to collect goods. We politely ask you to ensure goods are collected within 3 months of the sale. Storage charges may be applicable after this period.
Despatch/Delivery
M&M use their own competitive in-house shipping service with tracking. Buyers however may appoint their own shipping agent where applicable. There will be a small charge for this service for us to prepare your items.
IMPORTANT: PLEASE BE AWARE THAT WHILST ALL PARCELS ARE SENT WITH TRACKING AND THERE ARE RARELY ANY PROBLEMS, NO CLAIMS WILL BE ACCEPTED FOR LOSS or DAMAGE IN TRANSIT.
BUYER'S ARE WELCOME TO ARRANGE THEIR OWN COURIER IF PREFERRED. WE OFFER A STANDARD PACK SERVICE FOR £10 PER BOX. WE STRONGLY ADVISE COLLECTION IN PERSON OR A SPECIALIST COURIER FOR VERY FRAGILE ITEMS.
Title
The legal title in a lot shall not pass to the buyer until the lot(s) has been paid for in full and the Auctioneers shall be entitled to rights on any lot sold until the purchase price is paid in full but each lot is at the sole risk of the buyer from the fall of the hammer. Each buyer shall give his full names and permanent address and if called upon to do so by the Auctioneer shall forthwith pay M&M Auctions Ltd such proportion of the purchase price as the Auctioneer may require. If the buyer fails to do so, the lot may at the Auctioneer’s sole discretion be put up again and re-sold.
Warranty of Title
The Vendor warrants to M&M Auctions Ltd and to the Buyer that he is the true owner of the Lot or is properly authorised by the true owner to sell the Lot and is able to transfer good and marketable title to the Lot free from any liens, charges or third party claims. When the Vendor is authorised by the true owner to sell the lot, the Vendor must name the owner and produce such written evidence of his authority as M&M Auctions Ltd may request.
The Vendor warrants to M&M Auctions Ltd, its servants and agents and the Buyer against any loss or damage suffered in consequence of any breach of the above on the part of the Vendor.
The Vendor warrants that all information supplied to M&M Auctions Ltd in connection with the Lot is accurate to the best of his knowledge, information and belief.
General Conditions of Sale
Definitions
M&M Auctions Limited are referred to as “M&M”, “we”, “us” or “our” throughout these Conditions. A representative of M&M conducting an auction is referred to as the Auctioneer. These definitions apply to these Conditions and to the buyer’s and seller’s information.
Buyer - the highest bidder on a Lot as determined by the Auctioneer.
Buyer’s Premium - percentage of the Hammer Price added to the Hammer Price payable to M&M
Conditions - These Terms of Business including the Buyers’ and Seller’s Information.
Condition Report - a report conducted by us as to the condition of a Lot upon written request from a Prospective Buyer following the guidance found in the buyer’s information form.
Sale - a purchase by the Buyer of a Lot from the Seller.
Prospective Buyer - any person registering an interest in making a purchase of a Lot.
Day of Sale - the date upon which an auction takes place for a Lot.
Lot(s) - An item offered for sale by a Seller at an auction conducted at our premises by an Auctioneer.
Hammer Price - the final price bid by a Prospective Buyer prior to the Auctioneer concluding an auction.
Viewing Day or Days - a day determined at our discretion for Prospective Buyers to view Lots. Time allocated for viewing will be determined according to the size and nature of the Lots.
1. Agency
M&M act throughout as agents only and we cannot be held responsible for any default by Buyers.
2. Attribution and Condition of Lots
Reasonable endeavours are made to ensure the accuracy of any statement as to authorship, attribution, origin, date, age, provenance and condition of any lot whether or not such statement forms part of the description of any such lot. Whether any such statement is made orally or in the catalogue it is merely an expression of opinion given by us. Each Prospective Buyer by making a bid for a Lot acknowledges that they have satisfied themselves fully as to the attribution and condition of the Lot. We make no warranty or representation as to the condition or attribution of any Lot.
We accept no liability for any damage for any lot arising during the viewing, during the sale or after the sale. We act as agents only.
Any Lot that proves to be a deliberate forgery may be returned to M&M by the Buyer within 21 days of the Sale provided it is in the same condition as when bought. If M&M are satisfied from the evidence presented that the Lot is a deliberate forgery we shall refund the amount paid (including Buyer’s Premium and VAT).
4. Liability
Nothing in these Conditions limits any liability which cannot legally be limited, including liability for:
(a) death or personal injury caused by negligence;
(b) fraud or fraudulent misrepresentation; and
(c) breach of the terms implied by section 2 of the Supply of Goods and Services Act 1982 (title and quit possession).
Subject to this clause, our total liability to either the Buyer or the Seller (as appropriate) shall not exceed the value of the Lot sold by the Seller to the Buyer.
The following types of loss are wholly excluded by us:
(a) loss of profits;
(b) loss of sales or business;
(c) loss of agreements or contracts;
(d) loss of anticipated savings;
(e) loss of or damage to goodwill; and
(f) indirect or consequential loss.
5. Insurance
Unless otherwise instructed in writing all goods on M&M Auction Ltd’s premises and in their custody will be held insured against the risk of fire, burglary and water damage. The value of the goods covered shall be the gross amount realised, or in the case of unsold lots the best bid, or in the case of loss prior to sale, the reserve price. When no reserve has been fixed, M&M Auctions LTD shall at their absolute discretion estimate to be the auction value of such goods. In the respect of any article delivered to M&M Auctions LTD if the seller has in force a policy or policies of insurance in which the article is specifically mentioned as being insured whether or not for an agreed sum or value, the seller shall notify his insurers of, and shall himself note M&M Auction LTD’s interest as bailees in such policy or policies.
6. Disputes
Any dispute not herein proved for shall be settled at the sole discretion of M&M
7. General
M&M shall have the right, at their discretion, to refuse admission to their premises or attendance at their auctions by any person.
No party shall be in breach of these Conditions nor liable for the delay in performing, or failure to perform, any of its obligations under these Conditions (or otherwise) if such delay or failure results from events, circumstances or causes beyond its reasonable control.
The Conditions constitute the entire agreement between the parties and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.
Except as set out in these Conditions, no variation of these Conditions shall be effective unless it is in writing and signed by the parties (or their authorised representatives).
These Conditions, and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the laws of England.
Each party irrevocably agrees that the Court of England shall have exclusive jurisdiction to settle any dispute of claim (including non-contractual disputes or claims) arising out of or in connection with the Conditions or its subject matter or formation.
8. VAT
Value Added Tax at the current rate is payable on all commissions, premiums and charges where applicable.
9. Commission
Seller’s commission is set at an agreed contractual rate of between 10% and 20% subject to consignment size and value. All rates are subject to an annual review in March and applicable from April based on inflationary factors which directly affect the business. We reserve the right to increase this rate in line with these factors, pending review each year.
10. Right to Refuse
We reserve the right to use our discretion to refuse any Lot for sale.
11. Unsold Items
A Lot which fails to sell, and which the Seller does not wish to be re-offered, will be stored free of charge unless a request to collect has been sent to the seller. If after 6 months, an item remains in storage, M&M reserve the right to sell the item to defray costs and storage charges.
12. Transport Charges
There is generally no transport charge subject to review of each clients’ circumstances.
13. Withdrawn Items/Cancellation of Sale by Seller
The fee for cancelling a Sale or for withdrawal of a Lot prior to the Sale is 50% of the upper estimate, plus any reasonable costs incurred.
14. Withdrawn item/cancellation of Sale by M&M
We accept no liability for any cancellation/postponement/default of a Sale. We reserve the right to withdraw any Lot from a Sale at our discretion and no liability will be accepted should we, at our discretion, withdraw a Lot for Sale.
15. Illustrations and Photographic Images
M&M own the copyright to all images created prior to sale which may be used in subsequent marketing activities across any media channel.
16. Reserves
Sellers are entitled to place reserves on any Lot they have consigned. A reserve cannot be higher than the top estimate advertised at the time of the Sale and may include a 10% decrease at the Auctioneer’s sole discretion.
17. Electrical Items
Electrical items must comply with all current trading standards legislation. M&M reserve the right to dispose of any Lot which does not comply with these standards, at our sole discretion.
18. Payment
The “net sale proceeds” received from the Buyer in cleared funds will be forwarded to the Seller no later than 28 working days after the auction (M&M shall use reasonable endeavours to settle non-catalogue sales within 14 working days after the auction). Where the buyer makes a payment more than 28 working days after the auction M&M shall send to the Seller the “net sale proceeds” within five working days of receipt of cleared funds from the Buyer. The “net sale proceeds” are the Hammer Price less commission and expenses set out on the Receipt and Instruction to Sell Form. The Seller waives any right to interest that may be earned during the period from payment by the Buyer to receipt of the “net sale proceeds” by the Seller. For the avoidance of any doubt, the Seller shall have no recourse to M&M where payment is not received by M&M from the Buyer.
19. Consigning Lots
We may, at our absolute discretion, list any Lot consigned in any future Sale. Whilst we will use reasonable endeavors to notify a Seller of this, such actions are not contingent of notice being given. We reserve the absolute right to list lots for sale at a time of our choosing.
Relating to the Buyer
20. Registration
Prospective Buyers must register in writing before a Sale, giving their full name, address, contact telephone number(s) and email address. First time buyers may be required to provide proof of identity (i.e. driving licence/passport), a valid debit or credit card and a copy of a utility bill or a document showing their name and address. Upon receipt of the above a buyer’s number will be issued, which is only valid for the duration of the Sale. This paddle may be used to indicate your bids to the Auctioneer during the Sale. If successful, the Prospective Buyer must ensure that the Auctioneer can see their number as indicated on the paddle and that it is their number that is called out. Should there be any doubts as to price or Buyer, please draw the Auctioneer’s attention to it immediately. No liability shall be accepted for failure to rectify an error during a Sale.
21. Condition Reports
Only certain lots have reference to damage and restoration. However, the absence of any such notice does not imply that a Lot is free from defects, nor does it indicate that other defects are not also present. All Potential Buyers are deemed to have viewed all pieces they intend to bid for, and to have fully satisfied themselves as to the condition of the same. Condition Reports and additional images for Lots are available. All Lots are sold as seen.
22. Telephone Bidding
Requests for telephone bidding must be registered a minimum of one hour prior to the start of the sale. Telephone lines are booked on a first come first served basis. Full name, address and telephone numbers will be required. Bank and credit/debit card details may also be necessary to secure the line.
23. Online Bidding
M&M offers an online bidding service via www.bid.mm-auctions.com. Items purchased through this platform will not be subject to any additional commission charge. Online bidding is also available at www.the-saleroom.com and www.liveauctioneers.com. Items bought via these platforms will be subject to an additional 5% commission charge plus VAT.
By completing registration with either of these online bidding platforms and providing your credit/bank card details and unless alternative arrangements are agreed with M&M you:
(a) authorise M&M, if they so wish, to charge the credit/bank card given in part or full payment, including all fees, for items successfully purchased in the auction via either of these online bidding platforms;
(b) confirm that you are authorised to provide these credit/bank details to M&M and agree that M&M are entitled to permit the shipping of the goods to the card holder and card holder address provided in fulfilment of the sale; and
(c) Agree that M&M accepts no liability for any losses, however arising, for usage of www.the-saleroom.com or any other bidding platform which operates pursuant to its own terms and conditions. These Conditions solely regulate the relationship between us and you.
24. The Buyer
The highest bidder acknowledged as such by the Auctioneer will be the Buyer. If any dispute arises, the Auctioneer shall have sole discretion to settle the matter. The Auctioneer shall rule the bidding and no bid may be retracted without permission of the auctioneer. Upon confirmation of sale from the auctioneer, the buyer agrees to enter into a contract with the auctioneer to purchase. This contract is legally binding as per Auctions (Bidding Agreements) Act 1969. The Auctioneer reserves the right to refuse any bid. The Buyer who is successful in purchasing any Lot or Lots is entirely responsible for paying for such Lot or Lots in accordance with these Conditions. Purchases made on behalf of a third party are the responsibility of the Buyer in the room or that recorded by online record. The Auctioneer reserves the right to bid on behalf of the Seller for any Lot and to withdraw, consolidate or divide any Lot or Lots.
25. Buyer’s Premium
A Buyer’s Premium of 21.5% of the Hammer Price is payable on each Lot.
26. Auctioneers’ Margin Scheme
The Auctioneers’ Margin Scheme allows the Auctioneer to sell items without VAT on the Hammer Price. Under the Auctioneers’ Margin Scheme an amount equivalent to VAT is added to the Buyer’s Premium. This amount cannot be refunded. VAT will not be shown separately on the Buyer’s invoice.
27. Payment
Payment is due immediately from the Buyer after the auction and must be paid in pounds sterling. We expect payments to be cleared within 7 days of invoice receipt. Any payments due after this time, unless arrangements are otherwise discussed and agreed with M&M Specialist Auctioneers, will be subject to our collections process. A late payment charge of £10 plus VAT will be added and we reserve the right to take payment from payment details provided upon auction registration. Continued failure to settle accounts may result in further charges. We also reserve the right to withdraw any further participation in future auctions in addition to pursuing legal recovery of outstanding debts. Your details may also be blacklisted amongst other auctioneers.
The following methods of payment may be used:
• Bankers draft;
• personal cheque;
• BACS/CHAPS
• debit and credit cards;
• cash
Bank transfer
Bank transfers should be sent to:
HSBC, 8 Market Pl, Spalding PE11 1SN
Sort Code: 40-43-01
Account no: 91638874
Account name: M&M Auctions Ltd
IBAN: GB89 HBUK 40430 19163 8874
SWIFTBIC: HBUKGB4B
28. Transfer of Risk
The risk in the Lot shall pass to the Buyer upon the completion of the Sale by the Auctioneer. M&M are not responsible for the correct description, genuineness or authenticity of any Lot as per these Conditions. The Buyer is deemed to have inspected each Lot and satisfied himself as to its condition.
29. Ownership of the Lot
Title to the Lot(s) purchased will not pass to the Buyer until the Buyer has paid M&M in full the total amount due pursuant to these conditions and M&M have applied such payment to the Lot.
30. Removal of Goods
No purchase shall be claimed or removed until the sale has been concluded, unless the Auctioneer announces prior to the sale goods may be removed before the sale ends. Once goods have been removed from the Auction building by Buyers who attend the sale, no further responsibility for loss or damage however or whenever caused can be accepted by M&M Auctions Limited. Buyers should ensure lots are as viewed before they are removed.
31. Bidding Increments
As M&M are to participate in “live bidding” for all sales, to enable us to do this the following bidding increments will apply.
£1-40 increments of £2
£40-100 increments of £5
£100-200 Increments of £10
£200-500 increments of £20
£500-1000 increments of £50
£1000-3000 increments of £100
£3000-5000 increments of £200
£5000-10000 increments of £500
£10000 + increments of £100
Any postal, fax, internet or bids that have been telephoned in with odd figures, for example a bid for £56 will be rounded up to £60 or a bid for £222 will be rounded up to £240. In the event of a “tied” bid we will always accept the bid received first.
Increments during the sale are at the discretion of the auctioneer.
