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TERMS & CONDITIONS (SELLERS)

RUPERT TOOVEY & CO LTD, T/A TOOVEY’S


TERMS OF SALE BY AUCTION AND CONDITIONS OF BUSINESS
MAINLY CONCERNING SELLERS




1. A commission rate of 15% (plus VAT on the commission where applicable) is payable by sellers on the hammer price of individual lots sold. (The VAT rate may alter and will be levied at the appropriate rate.)

2. An additional charge of £6.00 inclusive of VAT is levied in respect of each lot sold, covering Internet marketing, lotting and administration.

3. Rupert Toovey & Co. Ltd. are not regulated by the F.S.A. for the provision of insurance to its clients. However, Rupert Toovey & Co. Ltd., for its own protection, insures property consigned to it at mid pre-sale estimate, unless the item has been sold, in which instance property is insured at the hammer price, for loss, occasioned as a result of theft, fire or negligence whilst in their custody or control.

4. The seller undertakes to reimburse Rupert Toovey & Co. Ltd. for all expenses incurred, inclusive of VAT, where the seller’s instructions are withheld after chattels have been deposited at the salerooms, e.g. transport, storage, etc.

5. Illustrations in the catalogue will be charged to the seller at an agreed rate.

6. All reserves will be subject to up to 10% discretion unless Rupert Toovey & Co. Ltd. are instructed to sell items without reserve, whereby the Auctioneer will sell the lot for the highest price bid but not for less than £20. ‘Auctioneer’s Discretion’ is half the lower estimate. The Auctioneers reserve the right to alter reserves prior to auction should prevailing market conditions force the Auctioneers to do so. Reserves once fixed may only be altered with the express permission of the Auctioneer. Where a reserve has been placed, only the Auctioneer may bid on behalf of the seller. The Auctioneer reserves the right to sell at a ‘hammer price’ below the reserve, but in any such case the sale proceeds to the seller shall be the same as if the lot had sold at reserve.

7. VAT. Conditions 1, 2, 4, 8 and 13 are subject to VAT at the appropriate rate.

8. The Auctioneers reserve the right to charge a withdrawal fee of 15% plus VAT of mid pre-sale estimate plus an additional £6.00 inclusive of VAT for any lots entered for sale but subsequently withdrawn prior to auction.

9. The Auctioneers reserve the right to reproduce photographs and illustrations of any items placed with them for sale and retain copyright of those images. The Auctioneers reserve the right to use images of any items placed with them for sale for pre-sale or post-sale marketing purposes.

10. If a buyer returns a lot within seven working days of purchase for an alleged breach of any matters referred to in Condition 9 of the Buyers Conditions or Condition 10 of the Sellers Conditions, and the Auctioneer is of the opinion that the buyer’s complaint is justified, the Auctioneer is authorized to cancel the sale and refund the total amount paid for the lot to the buyer.

11. The Auctioneers reserve the right to cancel any sale at any time, at their sole discretion.

12. The seller of any lot warrants to the Auctioneer and to the buyer that the seller is the true owner of the property up for sale or is legally authorized to sell the property by the true owner and is able to give good and marketable title to the property, free from any third party claims, and that the seller will indemnify the Auctioneers, their servants and agents, and the buyer against any loss or damage suffered as a result of any breach of the terms of this clause by the seller.

13. Sale proceeds will be posted to the seller within 28 working days after the end of the week of the auction in all cases, except as stated in Condition 9 and where payment has not been made to the Auctioneers and it is held in the Auctioneers’ opinion to be in the seller’s best interest to extend the period for the buyer to make payment in full. In such instances Rupert Toovey & Co. Ltd. will post the sale proceeds within five working days after the day on which the total amount due is received from the buyer. A charge will be made for each payment to a seller requested or required in any form other than a sterling cheque. The Auctioneers reserve the right to retain any interest accruing on monies held pending payment.

14. Unsold Lots. The Auctioneers will notify the seller of any unsold lots within 10 working days after the sale. The seller can choose to either re-offer the lot(s) with a lower reserve in a future auction or to collect the lot(s) within 28 days. If the Auctioneers have not received instructions within 28 days, the lot will be re-offered without a reserve and sold to the highest bidder. Where a request has been made to a seller to remove goods from the saleroom and they are not removed within 28 days of such a request, the aforementioned conditions will also apply.

15. The seller authorizes the Auctioneers to deduct commission at the stated rates and any expenses from the hammer price, and acknowledges the Auctioneers’ right to retain the Buyer’s Premium in accordance with Condition 1 of the Buyers Conditions. In addition the seller agrees to indemnify the Auctioneers against any costs, legal or otherwise, arising from a claim against a bidder being made on the seller’s instructions, where a dispute has arisen.

16. Rupert Toovey & Co. Ltd. must be notified of any changes in seller’s address in writing. Where a seller is ‘unknown’ at their stated address and correspondence is returned to the Auctioneers offices, Rupert Toovey & Co. Ltd. reserve the right to offer their goods for sale without reserve to be sold to the highest bidder after a period of 90 days from the date of the initial posting. Any monies realized will be held by Rupert Toovey & Co. Ltd., until claimed by the seller. The Auctioneer reserves the right to deduct commission and expenses.

17. Private Sales. If any lot fails to sell or is subject to damage at the auction, the seller authorizes Rupert Toovey & Co. Ltd., as the seller’s exclusive agent, for a period of fourteen days following the auction to sell the lot privately for a price that will result in a payment to the seller of not less than the net amount (after commission and expenses) to which the seller would have been entitled had the lot been sold at a price equal to the agreed reserve. The Auctioneers reserve the right to deduct commission and expenses: all other items and conditions will be held to apply.

18. Rupert Toovey & Co. Ltd. reserves the right to retain any amounts accruing from interest on clients’ monies being held pending settlement to sellers.

19. To conform with Trading Standards, electrical goods are sold only as decorative objects or for historical research purposes and not for use. Therefore all cables, plugs, etc. will be removed and disposed of prior to the sale.

20. In respect of Furniture & Furnishing Fire Safety Regulations, no items can be accepted for sale which do not conform to the current legislation. In the case of dining chairs and similar pieces, the seat frames may be given to a buyer but the upholstery will have been removed, prior to the sale, where it does not comply with the aforementioned.

21. The seller authorizes Rupert Toovey & Co. Ltd. to undertake any tests, research or enquiries or to consult and rely on any outside experts, consultants or restorers in relation to any item, as Rupert Toovey & Co. Ltd. may at its sole discretion deem appropriate.

22. Neither Rupert Toovey & Co. Ltd. nor any affiliated company, nor their respective servants or agents, will be liable for loss or damage to frames or glass covering prints, paintings or other works or the loss or damage to property caused by:

(i) any third party instructed to deal with the property with the seller’s consent;

(ii) changes in humidity or temperature;

(iii) normal wear and tear, gradual deterioration or inherent defect;

(iv) errors in processing.

23. Estimates. Rupert Toovey & Co. Ltd. makes no representations or warranties as to the anticipated selling prices of property. Estimates are offered only as a guide and not as a statement of fact.

24. Rupert Toovey & Co. Ltd. would draw your attention to ‘TERMS OF SALE BY AUCTION & CONDITIONS OF BUSINESS, MAINLY CONCERNING BIDDERS & BUYERS’, ‘GENERAL CONDITIONS AND DEFINITIONS APPLICABLE TO BIDDERS, BUYERS AND SELLERS’ (see below) and ‘IMPORTANT NOTICE TO BIDDERS & BUYERS’.


N.B. References to ‘The Auctioneer’ and ‘The Auctioneers’ include Rupert Toovey & Co. Ltd., its directors, employees, consultants, servants and agents.


GENERAL CONDITIONS AND DEFINITIONS
APPLICABLE TO BIDDERS, BUYERS AND SELLERS



1. The Auctioneer sells as agent for the seller and as such is not responsible for any default by seller or buyer.

2. Any representation or statement by the Auctioneers in any catalogue as to ownership, attribution, genuineness, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only and the Auctioneers, their servants or agents hereby disclaim responsibility for the correctness of such opinions.

3. In these conditions:

(i) ‘Hammer Price’ means the price at which a lot is knocked down by the Auctioneer to the buyer.

(ii) ‘Balance Due’ means the hammer price in respect of the lot sold together with any premium, value added tax chargeable and additional charges and expenses, e.g. storage charges and insurance, in pounds sterling.

(iii) ‘Sale Proceeds’ means the net amount due to the seller being the hammer price of the lot sold less commission at the stated rate and expenses and any other amounts due to the Auctioneers from the seller.

4. The Auctioneer has the right at his absolute discretion without giving any reason to refuse any bid, to advance the bidding as he may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case of a dispute, to put up any lot for auction again.

5. Rupert Toovey & Co. Ltd. at its absolute discretion has the right to refuse admission to its premises or attendance at its auctions by any person.


N.B. References to ‘The Auctioneer’ and ‘The Auctioneers’ include Rupert Toovey & Co. Ltd., its directors, employees, consultants, servants and agents.

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