TRANSPORT AUCTIONS OF LONDON LTD
TERMS AND CONDITIONS OF SALES
Transport Auctions of London Ltd is hereinafter referred to as the Auctioneer and includes any person acting upon the Auctioneer's authority.
1. General Conditions of Sale
a. Lots may be viewed by any prospective bidder at the Auctioneer's premises by appointment during the week preceding the sale.
b. All persons on the premises of, or at a venue hired or borrowed by, the Auctioneer are there at their own risk.
c. Such persons shall have no claim against the Auctioneer in respect of any accident, injury or damage howsoever caused nor in respect of cancellation or postponement of the sale.
d. The Auctioneer reserves the right of admission.
e. For security reasons, bags are not allowed in the viewing room.
f. Persons handling lots do so at their own risk and shall make good all loss or damage howsoever sustained, such estimate of cost to be assessed by the Auctioneer whose decision shall be final.
a. The Auctioneer acts as agent only and shall not be responsible for any default on the part of a vendor or buyer.
b. Lots are sold as seen (see 1a) and The Sale of Goods Act (1979), The Consumer Rights Act (2015) and The Consumer Contracts Regulations (2013) do not apply.
c. All descriptions of auction lots, including the condition and estimated value of items, whether printed or oral, are given in good faith and are statements of opinion not fact. Any comments on any lots must be made to the Auctioneer at least 24 hours before the start of the auction.
d. Lots are sold with all imperfections and/or faults and neither the Auctioneer nor the vendor is responsible for any defects whatsoever.
e. No warranty is given or implied by the Auctioneer or the vendor with regard to any lot other than that the Seller has the right to sell it and any express or implied conditions or warranties whether relating to condition or quality are hereby excluded.
f. Intending purchasers should satisfy themselves as to the condition, age, provenance etc of all pieces and lots before they bid.
3. Conditions of Sale - vendors
a. A commission charge of 18% (inclusive) of the hammer price or £12 inclusive, whichever is the greater, will be deducted from the selling prices and the vendor authorises the Auctioneer to deduct all monies due to the Auctioneer from the auction proceeds.
b. Reserve prices may be set by the vendor (minimum £75). Unless otherwise instructed by the vendor, the Auctioneer may use discretion to sell a lot at up to 10% below vendor's reserve. If a lot does not sell, an administration charge of 18% (inclusive) of the reserve or £12 inclusive, whichever is the greater, will be incurred.
c. Where a lot is entered without a vendor's reserve, the Auctioneer will set a suitable reserve. In the event of such a lot not selling, the administration charge for an unsold lot will not apply.
d. All lots are sold at the Auctioneer’s discretion unless written instructions to the contrary are received from the vendor at least 48 hours prior to the starting time of the sale (responsibility for receipt of such instructions rests with the vendor) and, in the event that a lot is so withdrawn, an administration charge of 18% (inclusive) of the reserve or £12 inclusive, whichever is the greater, will be levied.
e. The closing date for entries is six weeks before the sale date or when the full number of lots has been achieved, if earlier. The Auctioneer reserves the right to defer items to a later sale where either the maximum number of lots has already been reached or where, in the Auctioneer's opinion, earlier inclusion would result in an imbalance of lots on offer.
f. The vendor warrants to the Auctioneer that he/she is the true owner of the items entered (or has written authorisation from the true owner to sell the items) and that he/she has given the Auctioneer full disclosure of the provenance & authenticity of the said items and the vendor indemnifies the Auctioneer together with his servants and agents against all and any claim made in connection with the sale of the said items.
g. The vendor shall arrange to collect unsold or withdrawn lots within 28 days of the sale unless the Auctioneer has agreed to re-enter them in a subsequent sale and, unless otherwise agreed by prior arrangement, any unsold or withdrawn lots not collected within 28 days shall incur a daily storage & administration charge of £2.40 inclusive with a minimum total charge of £30 inclusive. Lots not collected after 3 months will be sold for the Auctioneer's account without further notification to the vendor.
h. Unsold or withdrawn lots will not be released until all outstanding charges have been settled in full.
i. Any offers for lots after the sale are only to be negotiated through the Auctioneer and any sale thereafter of items which have been viewed through the Auctioneer's catalogues, viewing days, advertising or internet sites is deemed to be transacted by the Auctioneer and full vendor's and buyer's commissions are payable by the vendor.
j. Payment of the proceeds of the sale less all applicable charges will be made to the vendor's bank account within 28 working days after the auction date, provided that the Auctioneer has received full payment from the purchaser. The Auctioneer shall not be liable for settlement of any lot for which he is not in possession of cleared funds.
k. In the event of any disputes relating to a lot, the Auctioneer reserves the right to cancel the sale of said lot. The vendor will be responsible for collection of the lot.
l. Goods entered into the auctions are so done at the vendor's own risk and, while every reasonable effort will be made by the Auctioneer to look after such goods, the vendor accepts that the Auctioneer is not liable for any damage or loss to the vendor's items while in the Auctioneer's possession.
m. Vendors are not permitted to bid for their own lots.
4. Conditions of Sale - buyers
a. In making a bid for any lot, whether in person or otherwise, all persons acknowledge that they have read, understand and abide by these Terms and Conditions of Sale and the bidder acknowledges that he/she has satisfied him/herself fully before bidding, by inspection or otherwise, as to the condition of such lot.
b. Each bid is an offer to buy and a winning bid forms an irrevocable commitment to purchase the lot concerned.
c. Responsibility for a purchased lot shall pass to the buyer at the fall of the hammer; however, legal title shall not pass until the Auctioneer is in possession of cleared funds in payment for that lot.
d. The buyer will pay to the Auctioneer the hammer price together with a buyer’s premium calculated at the rate of 18% inclusive for bids lodged directly with the Auctioneer on commission or by telephone, 20.4% inclusive for online bids from buyers registered to bid on the Auctioneer's website or 23.94% inclusive for online bids from buyers registered to bid on the-saleroom.com.
e. All lots must be paid for in full within 5 working days of the sale except where agreed otherwise by the Auctioneer in advance in writing. Overdue accounts will be charged interest at 5% pa.
f. All lots must be collected by or on behalf of the buyer by appointment from the Auctioneer's Edenbridge premises within 10 working days of the sale except where agreed otherwise by the Auctioneer in advance in writing.
g. No lot(s) may be removed until cleared funds are to hand except where agreed by the Auctioneer in writing.
h. Uncollected lots after 10 working days will incur a daily storage and adminstrative charge of £2.40 inclusive per lot thenceforth with a minimum total charge of £30 inclusive. Uncollected lots after 3 months will be sold for the Auctioneer's account without further notification to the buyer.
5. The Auction Process
a. Bids may be made online by prior registration for the sale on the Auctioneer's website or by post or by email, using the Auctioneer's Commission Bid Form, or by telephone, using the Auctioneer's Telephone Bid Form, or online at www.the-saleroom.com (see 4 (d) for applicable fees).
b. The Auctioneer reserves the right:
(i) to accept or refuse any bid(s), (ii) to regulate the bidding and amounts of any bid(s) and (iii) to rearrange, consolidate or withdraw any lot(s) or part of any lot without reason or notice.
c. At the fall of the hammer, the highest bidder, acceptable to the Auctioneer, shall be the buyer of the lot.
d. In the event of a dispute, the Auctioneer has absolute discretion to settle such dispute.
e. While auctions are held online only, payment is only accepted by bank transfer or by debit-card or credit-card. Business credit-cards and debit-cards issued in the UK/EU/EEA will incur an additional charge of 2% of the total amount payable, non-EU/EEA consumer (personal) credit-cards and debit-cards an additional charge of 3.5% and non-EU/EEA business credit-cards and debit-cards an additional charge of 4.5%. Cheques are not accepted.
f. Commission bids may be left with the Auctioneer by lodging a completed Commission Bid form by the deadline stated on the form. Commission bids will be executed by the Auctioneer as cheaply as possible on a best-efforts basis and without obligation and the Auctioneer shall not be responsible for any neglect or default in executing or failing to execute any commission bid.
g. Bidding by telephone is available subject to a minimum bid of £100 per lot and by lodging a completed Telephone Bid form by the deadline stated on the form. Telephone bids will be accepted by the Auctioneer on a best-efforts basis and without obligation and the Auctioneer shall not be responsible for any neglect or default in executing or failing to execute any telephone bid.
h. The buyer of each lot shall be the person making the highest bid which is acceptable to the Auctioneer. In the event of an equal maximum bid for any lot between a commission bid and a live online bid, the commission bid will take preference. In the event of two or more commission bids being equal, the first one received takes preference.
i. Estimated values of lots are provided as a guide as to what price the lot may attain, based on previous auction results and the Auctioneer's knowledge of the prevailing market. These are indications provided in good faith but as statements of opinion rather than facts.
j. Lots will be sold in numerical order (unless otherwise stated) at a rate of between 70 and 100 lots per hour.
k. The Auctioneer does not pack or ship lots. Buyers should collect their purchases or arrange for their own courier to do so. Collection is by booked appointment from the Auctioneer's storage location in Edenbridge, Kent and appointments may be made on the Auctioneer's website up until close of business on the day before the requested date. Upon request, the Auctioneer can put buyers in touch with a shipping agent who will collect, pack and ship on the buyer's behalf. Such arrangements will form a separate contract between the buyer and the shipper and the buyer will pay the shipping costs directly to the shipper. Safe transit of purchases by personal collection, courier or shipper is at the sole risk of the purchaser.
l. All transactions associated with this auction sale shall be governed by English law.