![]() ![]() At the fall of the hammer the Buyer shall give to the Auctioneer if required, such proportion of the purchase price as the Auctioneer may require in default of which the Auctioneer may re-offer and re-sell the Lot or Lots in question. Lots marked with ‘V’ belong to registered persons and Value Added Tax will be charged at the standard rate on the ‘hammer price’.ĥ. The Buyer shall pay to The Cotswold Auction Company the ‘hammer price’ together with a premium of 20% of the ‘hammer price’ together with Value Added Tax at the standard rate on the premium, agrees that the Auctioneers, when acting as Agents for the Seller, may also receive commission from the Seller in accordance with Condition 23 and acknowledges the Auctioneer’s right to retain the premium payable by the Purchaser.Ĥ. All Conditions, Notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any Lot are subject to any statements modifying or affecting the same made by the Auctioneer from the rostrum before accepting any bid for the Lot.ģ. The highest Bidder shall be the Buyer – if any dispute arises, the Auctioneer has absolute discretion to settle the dispute or to re-offer the Lot.Į.Ěuctioneer’s Statement. All intending purchasers must register their name and address with the auction staff and obtain a bidding number.ĭ.ğall of the Hammer. Where there is no reserve either the Seller or his Agent (who may be the Auctioneer) has the right to bid on the Seller’s goods. He may bid on the Seller’s behalf for all goods which are being offered subject to reserve or at the Auctioneer’s discretion. The Auctioneer has absolute discretion to divide any Lot, to combine any two or more Lots, to withdraw any Lot, to refuse bids, to regulate the bidding or cancel the sale without in any case giving any reason. Buyers are deemed to have to satisfied themselves on authenticity, condition, etc., before bidding and no-one in the Auctioneers employment has authority to make any representation of fact.Ĭ.ěidding. All statements on such matters, whether printed in the catalogue or made orally, are statements of opinion and not representations of fact. Every Lot is sold with all faults and errors of description and the Auctioneers disclaim, for themselves and for the Seller, all responsibility for authenticity, attribution, age, origin, provenance, date, condition, quality or estimated selling price. They accept no responsibility in connection with the commissioning of members of their staff to bid for Lots on behalf of intending Purchasers.ī.ĝescription. The Auctioneers do not guarantee the title of any Lot or Lots sold by them and will not be responsible for any defects in such title. The Auctioneer sells as Agent for the Seller and as such is not responsible for any default by Seller or Buyer. ![]() The ‘total amount due’ means the ‘hammer price’ in respect of the lot sold together with any premium, Value Added Tax chargeable and additional charges and expenses due from a defaulting buyer under Condition 12.Ī.Ěgency. The ‘hammer price’ means the price at which a lot is knocked down by the Auctioneer to the Buyer. In these Conditions, The Cotswold Auction Company, who act only as Auctioneers and Agents for the Vendor, are called ‘the Auctioneers’ and the representative of The Cotswold Auction Company conducting the auction is called ‘the Auctioneer’. He shall have no claim against The Cotswold Auction Company 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 The Cotswold Auction Company employees.ġ.ĝefinitions. Every person on The Cotswold Auction Company premises at any time shall be deemed to be there at his own risk. ![]()
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