Dix Noonan Webb shall remit the ‘sale proceeds’ to the seller not later than 35 days after the auction, but if by that date Dix Noonan Webb has not received the ‘total amount due’ from the buyer then Dix Noonan Webb will remit the sale proceeds within five working days after the date on which the ‘total amount due’ is received from the buyer. If credit terms have been agreed between Dix Noonan Webb and the buyer, Dix Noonan Webb shall remit to the seller the sale proceeds not later than 35 days after the auction unless otherwise agreed by the seller.


18 If the buyer fails to pay to Dix Noonan Webb the ‘total amount due’ within 3 weeks after the auction, Dix Noonan Webb will endeavour to notify the seller and take the seller’s instructions as to the appropriate course of action and, so far as in Dix Noonan Webb’s opinion is practicable, will assist the seller to recover the ‘total amount due’ from the buyer. If circumstances do not permit Dix Noonan Webb to take instructions from the seller, the seller authorises Dix Noonan Webb at the seller’s expense to agree special terms for payment of the ‘total amount due’, to remove, store and insure the lot sold, to settle claims made by or against the buyer on such terms as Dix Noonan Webb shall in its absolute discretion think fit, to take such steps as are necessary to collect monies due by the buyer to the seller and if necessary to rescind the sale and refund money to the buyer.


19 If, notwithstanding that the buyer fails to pay to Dix Noonan Webb the ‘total amount due’ within three weeks after the auction, Dix Noonan Webb remits the ‘sale proceeds’ to the seller, the ownership of the lot shall pass to Dix Noonan Webb.


20 Charges for withdrawn lots Where a seller cancels instructions for sale, Dix Noonan Webb reserve the right to charge a fee of 15 per cent of Dix Noonan Webb’s then latest estimate or middle estimate of the auction price of the property withdrawn, together with Value Added Tax thereon if the seller is resident in the European Union, and ‘expenses’ incurred in relation to the property.


21 Rights to photographs and illustrations The seller gives Dix Noonan Webb full and absolute right to photograph and illustrate any lot placed in its hands for sale and to use such photographs and illustrations and any photographs and illustrations provided by the seller at any time at its absolute discretion (whether or not in connection with the auction).


22 Unsold lots Where any lot fails to sell, Dix Noonan Webb shall notify the seller accordingly. The seller shall make arrangements either to re-offer the lot for sale or to collect the lot.


23 Dix Noonan Webb reserve the right to charge commission up to one-half of the ‘stated rates’ calculated on the ‘bought-in price’ and in addition ‘expenses’ in respect of any unsold lots.


General conditions and definitions


24 Dix Noonan Webb sells as agent for the seller (except where it is stated wholly or partly to own any lot as principal) and as such is not responsible for any default by seller or buyer.


25 Any representation or statement by Dix Noonan Webb, in any catalogue as to authorship, attribution, genuineness, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only. Every person interested should exercise and rely on his or her own judgement as to such matters and neither Dix Noonan Webb nor its servants or agents are responsible for the correctness of such opinions.


26 Whilst the interests of prospective buyers are best served by attendance at the auction, Dix Noonan Webb will, if so instructed, execute bids on their behalf. Neither Dix Noonan Webb nor its servants or agents are responsible for any neglect or default in doing so or for failing to do so.


27 Dix Noonan Webb shall have the right, at its discretion, to refuse admission to its premises or attendance at its auctions by any person.


28 Dix Noonan Webb has absolute discretion without giving any reason to refuse any bid, to divide any lot, to combine any two or more lots, to withdraw any lot from the auction and in case of dispute to put up any lot for


auction again.


29 (a) Any indemnity under these Conditions shall extend to all actions, proceedings costs, expenses, claims and demands whatever incurred or suffered by the person entitled to the benefit of the indemnity.


(b) Dix Noonan Webb declares itself to be a trustee for its relevant servants and agents of the benefit of every indemnity under these Conditions to the extent that such indemnity is expressed to be for the benefit of its servants and agents.


30 Any notice by Dix Noonan Webb to a seller, consignor, prospective bidder or buyer may be given by first class mail or airmail and if so given shall be deemed to have been duly received by the addressee 48 hours after posting.


31 These Conditions shall be governed by and construed in accordance with English law. All transactions to which these Conditions apply and all matters connected therewith shall also be governed by English law. Dix Noonan Webb hereby submits to the exclusive jurisdiction of the English courts and all other parties concerned hereby submit to the non-exclusive jurisdiction of the English courts.


32 In these Conditions: (a) ‘catalogue’ includes any advertisement, brochure, estimate, price list or other publication; (b) ‘hammer price’ means the price at which a lot is knocked down by the auctioneer to the buyer;


(c) ‘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 in pounds sterling;


(d) ‘deliberate forgery’ means an imitation made with the intention of deceiving as to authorship, origin, date, age, period, culture or source which is not shown to be such in the description in the catalogue and which at the date of the sale had a value materially less than it would have had if it had been in accordance with that description;


(e) ‘sale proceeds’ means the net amount due to the seller being the ‘hammer price’ of the lot sold less commission at the ‘stated rates’ and ‘expenses’ and any other amounts due to Dix Noonan Webb by the seller in whatever capacity and howsoever arising;


(f) ‘stated rate’ means Dix Noonan Webb published rates of commission for the time and any Value Added Tax thereon;


(g) ‘expenses’ in relation to the sale of any lot means Dix Noonan Webb charges and expenses for insurance, illustrations, special advertising, packing and freight of that lot and any Value Added Tax thereon;


(h) ‘bought-in price’ means 5 per cent more than the highest bid received below the reserve.


33 Vendors’ commission of sales A commission of 15 per cent is payable by the vendor on the hammer price on lots sold.


34 VAT


Commission, illustrations, insurance and advertising are subject to VAT if the seller is resident in the European Union.


Bankers: Lloyds TSB Piccadilly London Branch 39 Piccadilly London W1V 0AA


Sort Code: 30-96-64 Account No. 0622865 Swift Code: LOYDGB2L IBAN: GB70LOYD30966400622865 BIC: LOYDGB21085


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