(1) Corbitts conducting these auctions act as agents on behalf of the seller. The contract of sale for any lot will be between the seller and the buyer.
(2) The buyer of any lot will be the highest bidder. In the event of any dispute, the auctioneer shall have absolute discretion to settle the dispute as he thinks best; this may mean re-offering the lot for sale.
(3) The auctioneer shall have absolute discretion to divide any lot, combine two or more lots or withdraw any lot or lots without giving any reason. In the case of a dispute, he may re-offer a lot for sale. The auctioneer also has the right to refuse any bid or bids without giving a reason.
(4) Corbitts shall have absolute discretion to refuse admission to their premises or attendance at their auction of any person they deem unsuitable, without giving any reason for, or prior notice of, their auction.
(5) The minimum increment between bids will normally be 5%. The auctioneer has the right to refuse any bid which is not in line with this increase. He also has absolute discretion to vary this increment as he sees fit.
(6) All lots are subject to a Buyer's Premium of 15% plus VAT.
(7) Each bidder shall be deemed to act as principal unless Corbitts acknowledges in writing prior to the auction that he acts as agent for a named third-party principal. For bidders unable to attend the auction in person, commissions will be executed free-of-charge. Such bids must be written and must be received at least 24 hours before the sale begins. Corbitts cannot guarantee to execute bids received less than 24 hours before the sale. 'Buy' bids will not be accepted. Corbitts shall not be liable for any errors or omissions in executing such commissions.
(8) All buyers must, if requested, notify their name and address to the auctioneer and, if required, provide additional proof of identification, bank references or other credit references. All buyers must pay the full purchase price, at the point of collection of purchases, or a deposit as may be determined at the auctioneer's discretion, unless Corbitts has previously arranged credit terms. Seven working days must be allowed for clearance of personal cheques before delivery can be made unless a prior agreement has been reached. All credit cards issued outside the EU are subject to a fee of 2%.
(9) Ownership of lots does not pass to the buyer until Corbitts has received payment in full.
(10) All lots, however, are held to be at the buyer's risk from the fall of the hammer. All lots shall be removed by the buyer within seven working days after the date of the sale. Any lots not so removed may become liable to removal, insurance and storage charges. Such lots may, at the auctioneer's discretion, be re-offered for sale at auction or by private treaty without further notice to the buyer.
(11) All lots are offered for sale subject to the starting price listed in the catalogue.
(12) (a) Lots are sold as shown with all faults, imperfections and errors of description and lack of authenticity. Neither Corbitts nor the vendor shall give any warranty to any buyer in respect of any lot or be liable for any fault or error of description or lack of genuineness or authenticity of any lot. All statements as to items sold, whether made in catalogues, during the course of the auction or otherwise, are statements of opinion only and are not and shall not be taken to be statements or representations of fact. Corbitts reserve the right in forming their opinion to consult and rely upon any expert or authority considered by them to be reliable.
(b) Notwithstanding the foregoing, if any lot, other than a miscellaneous item not individually described in the catalogue, should be proved by the buyer to be not genuine or authentic, or to have been wrongly described in any material respect, the buyer may reject the same provided that he shall have given notice of his intention so to do and shall have returned the same to Corbitts within seven days from, and in the same condition as at, the date of sale. The onus of proving a lot to be not genuine or authentic or to have been so wrongly described shall lie with the buyer. Proof of the inability of any recognised expert or authority to express a definite option shall not discharge such onus. If the buyer shall discharge such onus, the auctioneers shall rescind the sale and repay to the buyer the price paid by him. Save as provided herein, Corbitts shall not under any circumstances whatsoever be liable for any costs, expenses or damages (whether direct, indirect, special or consequential) incurred by the buyer in respect of any lot, whether or not as a result of any fault, imperfection, error or description or lack of genuineness or authenticity, including but not limited to loss of any kind of profit whatsoever.
(13) Save as provided in the preceeding paragraph of these conditions buyers must satisfy themselves as to the accuracy of their purchases at the time of delivery. Corbitts cannot be held responsible for any discrepancy which might be discovered after the lots have been removed from either the auction room or the auctioneers' premises.
(14) As stated in paragraph (1), Corbitts acts solely as agent between buyer and seller and shall not be held responsible for any default by either party or for any action or claim that may arise in connection with any lot.
(15) Any part of the purchase price still outstanding after the auction, in line with the terms of paragraph (8), shall be paid in full within thirty days of the date of the auction. Without prejudice to any other rights, Corbitts reserves the right to charge interest on any overdue payment at a rate of 1.5% per month. In the event that Corbitts shall have paid the vendor (normally 35 days after sale) and part of the purchase price is still outstanding, title to the lot will pass to Corbitts. Corbitts shall then have the right to sell any other goods belonging to the buyer and held by Corbitts for whatever reason at such price that Corbitts, in its absolute discretion, thinks fit. The buyer shall also reimburse Corbitts for any additional costs incurred in this process.
(16) Buyers accepting commissions from third parties do so at their own risk. They remain responsible to Corbitts for full settlement according to these conditions.
(17) By making a bid, the buyer acknowledges his acceptance of these conditions and agrees to be bound by them.
(18) If any buyer fails to comply with any of these conditions, the lot or lots in respect of which the failure is made may at the discretion of Corbitts be put up again and re-sold. The damages recoverable from the defaulting buyer shall include, but not be limited to, the auctioneers' expenses and commission in respect of the resale and the amount (if any) by which the price obtained on the resale is exceeded by that obtained on the first sale.
(19) A variation of these conditions shall only be binding on Corbitts and the vendor if it is made in writing and signed by a duly authorised representative of Corbitts.
(20) These conditions shall take effect and be constructed in accordance with the provisions of English law.
