TERMS OF CONSIGNMENT FOR SELLERS
10. Descriptions. Please assist us with accurate information as to the provenance etc. of goods where this is relevant. There is strict liability for the accuracy of descriptions under modern consumer legislation and in some circumstances responsibility lies with sellers if inaccuracies occur. We will assume that you have approved the catalogue description of your lots unless informed to the contrary. Where we are obliged to return the price to the buyer when the lot is a deliberate forgery under Condition 15 of the Conditions of Sale and we have accounted to you for the proceeds of sale you agree to reimburse us the sale proceeds. The liability to reimburse the sale proceeds shall not arise where you are acting reasonably and honestly and are unaware of the forgery or where we are or ought to have been aware of it.
11. Unsold Items.
Roseberys: All unsold lots will be automatically re- offered in an online only auction that will take place within one week of the original sale date.
The estimate and reserve of the lot will remain the same. Should the lot remain unsold it will then be automatically re-offered into the next appropriate live or online auction with the low estimate reduced by 40% of the original estimate. If the revised estimate is £200 or below it will be re-offered without reserve. Please note lots originally consigned to Roseberys will incur Roseberys charges even if they are re-offered and sold in an online auction.
Vertu at Roseberys: All unsold lots will automatically be re-offered into the next appropriate auction with the low estimate reduced by 40% of the original estimate and if the revised estimate is £200 or below it will be offered without reserve.
If Roseberys advises the vendor that it does not wish to re-enter a lot on their behalf or the vendor advises that they do not wish to have a lot re- entered for sale, the vendor shall collect or have the lot collected within five days of the auction ending, failing which they shall be responsible for storage charges of £2 per lot per day in addition to any other charges to which they are liable. All requests must be received in writing. If a lot remains uncollected two months after the date of the auction, Roseberys shall have the right to sell the lot at auction without reserve and to deduct form the ‘hammer price’ any sum owing to Roseberys as well as expenses arising from all auctions in which the lot has been included, plus storage and loss and damage warranty charges.
12. Withdrawn Items.
(a) If an item is withdrawn prior to the publication of the catalogue a minimum charge of £20 + VAT per lot is applicable. This fee covers administration, handling, storage and loss & damage of the lot whilst in our care.
(b) If an item is withdrawn after the online or offline publication of the lots they will incur charges where applicable comprising the sum of the vendor’s commission, the entry fee, the illustration cost, the
loss and damage warranty, the buyer’s premium, the marketing fees and other expenses in relation to the item. VAT is applicable on all charges. These commission and premium charges will be calculated upon Roseberys published mid estimate.
(c) In the cases of 12 (a) and (b) Roseberys will store the withdrawn item for a period of five days with no charge, after this a storage charge will be applicable at a daily rate of £2 per item per day plus VAT for items that remain uncollected.
13. Conditions of Sale. You agree that all goods will be sold according to our Conditions of Sale. In particular you undertake that you have the right to sell the goods either as owner or agent for the owner. You undertake to compensate us and any buyer or third party for all losses liabilities and expenses incurred in respect of and as a result of any breach of this undertaking.
14. Authority to Deduct Commission and Expenses and Retain Premium and Interest.
(a) You authorise us to deduct commission from the hammer price at the stated rate plus all applicable expenses incurred on your account and consent to our right to retain beneficially the premium paid by the buyer in accordance with our Conditions of Sale and any interest earned on the sale proceeds until the date of settlement.
(b) You authorise us at our discretion to negotiate a sale by private treaty not later than five working days from the date of the auction in the case of lots unsold at auction, in which case the same charges will be payable as if such lots had been sold at auction and so far as appropriate these Terms apply.
15. Warehousing. We disclaim all liability for goods delivered to our saleroom without sufficient written sale instructions, client contact details or without our prior written agreement to take delivery and reserve the right to either refuse to receive such goods or to make a minimum warehousing charge of £2 per item per day. Unsold lots are subject to the same charges if you do not remove them within a reasonable time of notification. If not removed within twenty one days we reserve the right to sell them and defray charges from any net proceeds of sale or at your expense to consign them to the local authority for disposal.
16. Settlement. Settlement of the net sum due to you normally takes place 28 days after the sale (by crossed cheque or bank transfer to the seller) unless the buyer has not paid for the goods. In this case no settlement will then be made but we will take your instructions in the light of our Conditions of Sale. You authorise any sums owed by you to us on other transactions to be deducted from the sale proceeds. You must note the liability to reimburse the proceeds of sale to us as under the circumstances provided for in Condition 10 above. You should therefore bear this potential liability in mind before parting with the proceeds of sale until the expiry of 28 days from the date of sale.
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