IMPORTANT INFORMATION FOR BIDDERS AND BUYERS
Conditions of Business All lots are offered subject to Graham Budd Auctions Ltd’s Conditions of Business which are printed in the auction catalogue.
Estimates and Reserves Estimates are published as a guide only and are subject to review. The actual hammer price of a lot may be higher or lower than the range of figures given and there are no predetermined starting prices. Estimates can be subject to revision in which case a saleroom notice will be posted. The estimates printed in the auction catalogue are exclusive of buyer’s premium and VAT.
All lots are subject to reserves. The reserve price is never set higher than the low pre-sale estimate.
Buyer’s Premium & VAT A buyer’s premium of 17.5% is applicable to all lots in this sale.
The buyer’s premium is subject to VAT at the standard rate (currently 20%). Lots are normally offered for sale under the auctioneer’s margin scheme and VAT on the Buyer’s Premium is payable by all buyers. The exception is where lots are marked with a † VAT symbol. These items will be sold under the normal UK VAT rules and VAT will be charged at 20% (the current rate) on both the hammer price and the buyer’s premium.
Artist’s Resale Right Purchase of lots marked with the following symbol (+) will be subject to payment of the Artist’s Resale Right, at a percentage of the hammer price calculated as follows:
Portion of the hammer price (in €) From 1 to 1,000
From 1,001 to 50,000 From 50,001 to 200,000
Royalty Rate 0% 4% 3%
For further information on Artist’s Resale Rights see Design and Artists Copyright Society (DACS) website
www.dacs.org.uk
Bidding in Person To bid with us you must register to obtain a bidding number. Before the auction, fill in the form at the registration desk, provide proof of identity and you will be given a paddle number. All lots sold will be invoiced to the name and address in which the paddle has been registered and may not be transferred to other names and addresses. If you instruct an agent to bid on your behalf you will need to provide a letter of authority and they will also need to provide proof of identity. Graham Budd Auctions reserves the right to refuse. Please hand back the paddle after use.
A 34-35 New Bond Street Sotheby’s
Sotheby’s B Upper Grosvenor Gallery Oxford Circus
Absentee bids
Graham Budd Auctions Ltd will be pleased to execute bids on behalf of those clients unable to attend the sale in person. All bids must be submitted in writing in good time and lots will always be purchased as inexpensively as possible (depending on any other bids received, reserves & competition in the saleroom). It will be possible to arrange auction room telephone bidding, but subject always to the availability of lines & staffing. These services are offered free of charge and are subject to our Conditions of Business.
Payment
Payment is due in sterling immediately after the sale and before purchases can be released. Payments in person can be made in the saleroom on the day of the auction, after this payments must be made by post, card transactions by telephone or electronic transfer to our bank. Graham Budd Auctions Ltd welcome the following Methods of Payment:
Electronic transfers may be sent directly to our bank: Barclays Bank PLC 212 Regent Street London, W1A 4BP
IBAN Number: GB64BARC20717460420255 SWIFT/BIC Number: BARCGB22
Sort Code: 20-71-74 Account Number: 60420255
Account Name: Graham Budd Auctions Ltd
Credit/Debit Card We are pleased to accept major credit cards (regrettably we are unable to accept American Express card payments), for which a surcharge will be made of 3% of the transaction total. This is to cover the charge made to us by our bank. There is no charge for payments made by debit card.
Sterling Bankers Draft or Building Society Cheque Drawn on a recognised UK bank or building society. Please note that we require seven days to clear Sterling banker’s drafts.
Sterling Cheque or Cash Please note that we require seven days to clear sterling cheques where the amount exceeds the cheque card guarantee limit, unless special arrangements have been made with the auctioneer in advance of the sale, normally the presentation of a letter of guarantee from your bank. We always reserve the right to hold goods until a cheque is cleared. Cash payments will not be accepted above £6,000.
Collections and shipping On receipt of cleared funds, lots can be collected from the Sotheby’s saleroom during the auction or immediately after its completion. Thereafter, all lots will be transferred to Graham Budd Auction Ltd’s storage facility in Enfield, north London. Please contact the auctioneer for the full details. All collections are strictly by pre-arranged appointment. Alternatively, we can organise packing for postage and shipping on a worldwide basis. Please contact us for a quote.
Bond Street
SAT NAV Postcode For The NCP Grosvenor Hill Car Park W1K 3QQ
Sotheby’s Grosvenor Galleries
SOTHEBY’S 200
NEW BOND STREET SALEROOM Catalogue produced by atgmedia
OXFORD STREET
REGENT STREET
NEW BOND STREET
Hanover Square
Brook Street Brook Street Brook Street Hanover Street
Grosvenor Street
Grosvenor Street
Maddox
Grosvenor Hill Bourdon Street
St George Street
B A
Bruton Street
Davies Street
Davies Street
Conduit Street
Street
NCP
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