INFORMATION FOR BUYERS
The following informative notes are intended to assist Buyers. All sales are conducted on our printed Conditions of Sale which are readily available for inspection and are available to view on our website : www.tringmarketauctions.co.uk.
Agency. As auctioneers we usually contract as agents for the seller whose identity, for reasons of confidentiality, is not disclosed. Accordingly, if you buy your primary contract is with the seller.
Estimates. Estimates are designed to help buyers gauge what sort of sum might be involved for the purchase of a particular lot. Estimates do not include additional fees - the Buyer’s Premium or VAT (where chargeable).
BUYER' S PREMIUM. The purchaser shall pay to a premium of 18.5% on the hammer price plus Value Added Tax at the current rate on the premium.
Condition Reports. In respect of some lots, you may ask for a condition report on its physical condition, together with extra images. Tring Market Auctions are not entering into a contract with you in respect of the Condition Report and accordingly does not assume responsibility to you in respect of it. Nor do we agree to owe you as a Bidder any obligation or duty in respect of this free report about a lot, which is available for your own inspection or for inspection by an expert instructed by you.
Clocks & Watches - These are mechanical items, if asked we can supply a condition report, this may include information such as clock/watch is running at time of inspection, but no warranty or guarantee will be supplied re timekeeping or otherwise in this regard.
Export of goods. Buyers intending to export goods should ascertain (a) whether an export licence is required and (b) whether there is any specific prohibition on importing goods of that character because, e.g. they may contain prohibited materials such as ivory.
BIDDING
If attending the auction, bidders are required to register before the sale commences and will be invoiced to the name and address on the registration form. Please enquire in advance about our arrangements for telephone bidding.
COMMISSION BIDS
Prospective buyers are strongly advised to attend the auction and are always responsible for any decision to bid for a particular Lot and shall be assumed to have carefully inspected and satisfied themselves as to its condition. Commission bids may be left with the auctioneers indicating the maximum amount to be bid excluding buyers' premium. They will be executed as cheaply as possible having regard to the reserve (if any) and competing bids. If two buyers submit identical commission bids the auctioneers will give preference to the first bid received.
It is important that goods are paid for and collected promptly. Any delay may involve the buyer in paying storage charges. Goods not collected after 21 days of sale are not insured, and therefore we will not accept any liability for losses, breakages or damage sustained.
BIDDING PROCEDURES AND THE BUYER
(a) Bidders are required to register their particulars before bidding and to satisfy any security arrangements before entering the auction room to view or bid;
(b) the maker of the highest bid accepted by the auctioneer conducting the sale shall be the buyer at the hammer price and any dispute about a bid shall be settled at the auctioneer's absolute discretion by reoffering the Lot during the course of the auction or otherwise. The auctioneer shall act reasonably in exercising this discretion.
(c) Bidders shall be deemed to act as principals.
(2) Our right to bid on behalf of the seller is expressly reserved up to the amount of any reserve and the right to refuse any bid is also reserved.
INCREMENTS
Bidding increments shall be at the auctioneer’s sole discretion.
VALUE ADDED TAX
Value Added Tax on the hammer price is imposed by law on all items affixed with an asterisk or double asterisk. Value Added Tax is charged at the appropriate rate prevailing by law at the date of sale and is payable by buyers of relevant Lots. (Please refer to "Information for Buyers" for a brief explanation of the VAT position).
PAYMENT
Immediately a Lot is sold you will:
Pay to us the total amount due by one of our accepted payment methods which include credit and debit cards, cash or bank transfer. For fraud protection we no longer accept credit card payment for Customer Not Present transactions. Card payments at the saleroom are accepted but must be supported by Chip & Pin. Unfortunately, we do not accept payment by cheque.
TITLE AND COLLECTION OF PURCHASES
The ownership of any Lots purchased shall not pass to you until you have made payment in full to us of the total amount due.
You shall at your own risk and expense take away any lots that you have purchased and paid for not later than 7 working days following the day of the auction or upon the clearance of payment after which you shall be responsible for any removal, storage and insurance charges.
No purchase can be claimed or removed until it has been paid for.
REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES
If any Lot is not paid for in full and taken away in accordance with these
Conditions or if there is any other breach of these Conditions, we, as agent for the seller and on our own behalf, shall at our absolute discretion and without prejudice to any other rights we may have, be entitled to exercise one or more of the following rights and remedies:
(a) to proceed against you for damages for breach of contract;
(b) to rescind the sale of that Lot and/or any other Lots sold by us to you;
(a) to resell the Lot (by auction or private treaty) in which case you shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs). Any surplus so arising shall belong to the seller;
(d) to remove, store and insure the Lot at your expense and, in the case of storage, either at our premises or elsewhere;
(e) to charge interest at a rate not exceeding 2% per month on the total amount due to the extent it remains unpaid for more than 3 working days after the sale;
(f) to retain that or any other Lot sold to you until you pay the total amount due;
(g) to reject bids from you or your agent at future auctions or to impose conditions before any such bids shall be accepted;
(2) We shall, as agent for the seller and on our own behalf pursue these rights and remedies only so far as is reasonable to make appropriate recovery in respect of breach of these conditions
THIRD PARTY LIABILITY
Every person on Tring Market Auctions’ premises at any time shall be deemed to be there at his own risk. He shall have no claim against Tring Market Auctions in respect of any accident which may occur or injury, damage or loss howsoever caused, save insofar as the injury, damage or loss shall be caused by the direct negligence of Tring Market Auctions’ employees.
DESCRIPTIONS AND CONDITION
Whilst we seek to describe lots accurately, it may be impractical for us to carry out exhaustive due diligence on each lot. Prospective buyers are given ample opportunities to view and inspect before any sale and they (and any independent experts on their behalf) must satisfy themselves as to the accuracy of any description applied to a lot. Prospective buyers also bid on the understanding that, inevitably, representations or statements by us as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price involve matters of opinion. Subject to the foregoing neither we the auctioneer, nor our employees or agents nor the seller accept liability for the correctness of such opinions and all conditions and warranties, whether relating to description, condition or quality of lots, express, implied or statutory, are hereby excluded.
FORGERIES
If within 7 days after the sale we receive in writing from the buyer of any lot notice that in their view the lot is a deliberate forgery and within 14 days after such notification the buyer returns in the same condition the lot as when bought. If we are satisfied from the evidence presented that the Lot is a deliberate forgery we shall refund the money paid by you for the Lot including any buyer's premium. The right of return provided by this Condition is additional to any right or remedy provided by law or by these Conditions of Sale.
In the event of a dispute, the mater shall be settled by arbitration. Both the buyer and seller agree to be bound by the decision.
GENERAL
We shall have the right at our discretion, to refuse admission to our premises or attendance at our auctions by any person.
English law applies to the interpretation of these Conditions
