Terms And Conditions Of Sale

Terms mainly concerning buyers

1. a) Any representation or statement in any Catalogue as to attribution, genuineness, origin, date, age or condition or estimated selling price is a statement of opinion only and every interested person should exercise and rely on his or her own discretion as to such matters and neither Bainbridges nor their servants or agents are responsible for the correctness of such opinions.

b) All items are sold with all faults and imperfections and errors of description and buyers should satisfy themselves prior to the sale as to the condition of each lot and whether or not such lot accords with its description. None of the seller Bainbridges or their servants or agents are responsible for any errors of description and no warranty whatsoever is given by the seller Bainbridges or their servants or agents to any buyer in respect of any lot and any express or implied warranties or representations are hereby expressly excluded.

2. a) Bainbridges have absolute discretion without giving any reason whatever to refuse any bid divide any lot to combine any lot or to withdraw any lot and in case of any unsold lot or dispute to put up any lot for auction again.

b) The highest bidder shall be the buyer at the hammer price and any dispute shall be settled at the auctioneer’s absolute discretion. Bainbridges expressly reserve the right to bid on behalf of the seller up to the amount of any reserve.

3. The buyer shall pay to Bainbridges a premium of 20% on the hammer price, minimum £5 per lot or such other sum as may be stipulated in the catalogue of the relevant auction and/or sale room notices, together with Value Added Tax on the premium at the prevailing rate. The buyer acknowledges that Bainbridges may also receive the seller’s commission due to them.

4. a) Ownership of a lot shall not pass to the buyer until he has paid in full the Total Amount Due (and where payment is made by cheque until such cheque is cleared) but each lot is at the sole risk of the buyer from the fall of the hammer.

b) Immediately the lot is sold the buyer shall give to Bainbridges his full names and permanent address and pay to Bainbridges the Total Amount Due in full. If the buyer shall fail to do so the lot may at the discretion of Bainbridges be put up again and resold.

4. c) Bidders may be required to register before the sale commences and to provide evidence of identification and address as may be required by Bainbridges in their absolute discretion.

5. a) The buyer shall at his own expense be entitled to take away the lot purchased immediately after the conclusion of business on the day of the sale but not before and subject to the Total Amount Due having been paid in full.

b) The buyer shall be responsible for any loss or damage to lots purchased from the time of sale (ie when the hammer falls) and neither Bainbridges nor its servants or agents will thereafter be responsible for any loss or damage of any kind whether caused by negligence or otherwise while any lot is in their custody or under their control.

c) The buyer shall be responsible for any removal storage and insurance charges on any lot not taken away by the conclusion of business on the day of sale and neither Bainbridges nor their servants or agents shall be liable if the same shall be lost stolen damaged or destroyed whether caused by negligence or otherwise. The buyer will be responsible for any unnecessary negligent or wilful damage that may be done by them or their servants or agents in the removal of any lots from Bainbridges property or any property where such items are stored.

6. a) If during a period of seven days after the sale but before Bainbridges remit the sale proceeds of any lot to the seller the buyer gives notice to Bainbridges that the lot is a forgery or imitation and proves to Bainbridges satisfaction that the notice is well founded then Bainbridges shall be entitled to rescind the sale and to refund to the buyer the sum paid by him.

b) A buyer’s notice under this clause shall be limited to any amount paid in respect of the lot and shall not extend to any loss or damage suffered or expense incurred by him.

c) The benefit of this clause shall not be assignable and shall rest solely and exclusively in the buyer who for the purpose of this condition shall be the person to whom the original invoice is made out by Bainbridges in respect of the lot sold.


Terms mainly concerning Sellers

7. The seller shall complete Bainbridges entry form fully legibly and accurately and Bainbridges shall not be liable in any way for the seller’s failure to do so.

Payments under this section will be subject to Bainbridges usual vendor commission at full rates as if sold and will be based on either the hammer price, or if unsold the reserve price or in the case of an unreserved lot its lower estimate.

8. Bainbridges accept no responsibility for damage to any lot while in their custody or under their control or despatched by post to them or from them or for theft where the item is not warranted. See clause 13 and any statements on the front of Bainbridges registration form .

9. Bainbridges do not undertake collection of lots for sale but will if specifically requested by the seller and at the seller’s cost arrange for such collection by a third party but Bainbridges accept no responsibility for the acts or omissions of such third party or for any loss or damage caused thereby.

10. If any lot being offered for sale shall not be sold Bainbridges will re-enter previously reserved lots without reserve or dump unreserved lots at the seller’s cost. Where the seller withdraws a lot before sale then the seller will pay to Bainbridges 25% of the latest high estimate of the lot + VAT.

11. a) The seller authorises Bainbridges to receive payment for the lot on their behalf and to deduct any expenses due from the seller to Bainbridges on any account whatsoever from any such payments received before remitting a balance to the seller. Payment of sums due to the seller will generally be made 13 days after the auction or receipt by Bainbridges of the full sum due from the buyer whichever is the later.

b) Bainbridges shall be under no obligation to account to the seller for sums due from the buyer until payment of the total amount due in full in respect of the lot sold has been made by the buyer to Bainbridges in accordance with these terms.

c) If the buyer does not make payment to Bainbridges in accordance with these terms, or if there is any other breach of these terms, then Bainbridges shall in their absolute discretion, and without prejudice to any other rights they may have, be entitled to exercise one or more of the following remedies:-

i. to proceed to enforce payment or claim damages for breach of contract against the buyer together with all legal costs incurred on an indemnity basis

ii to rescind the sale and/or resell the lot

iii to remove, store and insure the lot at the buyer’s expense at Bainbridges premises or elsewhere

iv to charge interest at a rate not exceeding 1.5% per month on the total amount due to the extent that it remains unpaid for more than 3 working days after the sale.

d) in relation to sub clause 11(c.) above Bainbridges shall consult with the seller but Bainbridges discretion will be overriding and Bainbridges decision in relation to the matters arising in sub clause 11 (c) shall be final and binding.

12. Commission charges fees or expenses on each individual lot sold unsold or withdrawn from sale shall be charged in accordance with Bainbridges rates prevailing for the time being together with Value Added Tax thereon.

13. Bainbridges incur Advertising Costs in connection with each Lot placed in auction.

In the event of:

  1. the auction of any Lot being unable to proceed or impeded in proceeding due to a dispute howsoever arising (including but not limited to a dispute as to Title) in relation to that Lot or the auction of that Lot and/or
  1. failure by the buyer to make payment in accordance with Bainbridges Conditions of Business
  1. the seller shall make payment to Bainbridges for such Advertising Costs within 14 days of Bainbridges making written demand for such payment from the seller

14. Bainbridges may from time to time in order to assist the seller pay out costs and disbursements on behalf of the seller for which the seller is liable. Such payments by Bainbridges shall in no way waive the liability of the seller to Bainbridges for the same and the seller shall reimburse Bainbridges in respect of such payments within 14 days of written demand by Bainbridges for such payments .

15. Warranty against theft only. Where warranty against theft is requested Bainbridges shall charge the seller a sum to cover the warranty against theft at the rate of 1.5% of either the hammer price or the reserve price if the lot remains unsold or the high estimate on withdrawn lots, subject always to a minimum fee of £1.00 per lot, together with value added tax if applicable. Such warranty will apply only to items displayed in the actual sale room off the hall adjacent to reception. The lot will remain warranted against theft until the expiry of 24 hours after the first offering of the item. The seller or their agent is responsible for discovering which lots remain unsold.

16. a) Except where otherwise agreed in writing Bainbridges shall be entitled to exercise a lien on any property of the seller which is in the possession of Bainbridges for any reason to secure payment of any sums due to Bainbridges on any account whatsoever.

b) Bainbridges shall be entitled on giving seven days notice to the seller of their intention to do so, sent to the last known address, to sell such property to recover any such sums due to them.

17. a) The seller warrants and undertakes to Bainbridges that he has and is able to transfer a good marketable title to the lot free from any charges, liens or encumbrances and agrees to indemnify Bainbridges against any loss or damage incurred by Bainbridges as a result of any defect in the seller’s title and any other legal liabilities that Bainbridges may incur as a result thereof.

b) If any third party shall claim possession of or title to all or part

of a lot prior to its removal from the sale room then Bainbridges reserve the right to rescind the sale of the lot or permit its removal from the sale room.

18. In the event of a dispute on Title concerning any Lot consigned for sale to Bainbridges, should such dispute be resolved (by agreement or Court Order or otherwise howsoever in favour of the seller) then the seller hereby agrees upon such resolution that the Lot will thereafter be re-consigned (or remain consigned as the case may be) to Bainbridges for sale.

19. Bainbridges are obliged to offer all electrical goods as scrap, and to remove plugs, to comply with trading standards. Soft furnishings and upholstery that does not comply with current fire regulations will be dumped, and any charges passed to the vendor or their agents.

 

General Terms

20. These conditions of business form the basis upon which Bainbridges conduct auctions and entry of any lots for sale or bidding at an auction will constitute acceptance of these terms.

21. Bainbridges sell as agents for the seller and as such are not responsible for any default by seller or buyer.

22 All buyers, sellers and members of the public on any premises from which an auction is conducted are there at their own risk and must note the layout of the accommodation and security arrangements. Bainbridges accept no liability for death or personal injury or the security or safety of any property or persons visiting a site during or prior to an auction (except as required by law) as a result of negligence.

23 Bainbridges have the right at their absolute discretion to refuse admission to any premises at which an auction is to be conducted.

24. All items marked ** are entered by bailiffs. Stated quantities are approximate.

25. These conditions and all matters connected therewith shall be governed by and construed in accordance with English law. For the benefit of Bainbridges all buyers and sellers agree that the Courts of England shall have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these conditions apply. All parties agree that Bainbridges shall retain the right to bring proceedings in any court other than the Courts of England. 25. In these conditions:–

i) ‘‘Bainbridges’’ means Preston Traders Limited (Company number 4570810).

ii) ‘‘Hammer price’’ means the price at which a lot is knocked down by the auctioneer to the buyer and such price may include an element of Value Added Tax where the seller is registered for such Value Added Tax.

iii) ‘‘Total amount due’’ means the hammer price in respect of the lot sold together with the buyer’s premium and Value Added Tax thereon.

iv) ‘‘Catalogue’’ includes any advertisements brochure estimate price list or other literature or publication.

v) ‘‘Expenses’’ in relation to the sale of any lot includes Bainbridges charges and expenses for warranty against theft illustrations advertising packaging postage transport dumping of that lot and any Value Added Tax thereon

26. All UK art market professionals are required to collect a royalty payment for all works of art that have been produced by living artists. This payment is only calculated on qualifying works of art which are sold for a hammer price more than the UK sterling equivalent of 1,000 Euros. The royalty charge will be added to all relevant buyer’s invoices and must be paid before items can be cleared. All royalty charges are passed on to the Design and Artists Copyright Society (DACS). The royalty charge that will be applied to qualifying items which achieve a hammer price of more than the UK sterling equivalent of 1,000 Euros but less than the UK sterling equivalent of 50,000 Euros is 4%. For qualifying items that sell for more than the UK sterling equivalent of 50,000 Euros a sliding scale of royalty charges will apply. Please see www.dacs.org.uk