CONDITIONS OF SALE


Rosebery Fine Art Ltd carries on business with bidders, buyers and all those present in the auction room prior to or in connection with a sale on the following General Conditions and on such other terms, conditions and notices as may be referred to herein.


1. Definitions In these Conditions:


(a) “auctioneer” means the firm of Rosebery Fine Art Ltd or its authorised auctioneer, as appropriate;


(b) “deliberate forgery” means an imitation made with the intention of deceiving as to authorship, origin, date, age, period, culture or source but which is unequivocally described in the catalogue as being the work of a particular creator 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 the description;


(c) “hammer price” means the level of bidding reached (at or above any reserve) when the auctioneer brings down the hammer;


(d) “terms of consignment” means the stipulated terms and rates of commission on which Rosebery Fine Art Ltd accepts instructions from sellers or their agents;


(e) “total amount due” means the hammer price in respect of the lot sold together with any premium, Value Added Tax chargeable and any additional charges payable by a defaulting buyer under these Conditions;


(f) “sale proceeds” means the net amount due to the seller, being the hammer price of the lot sold less commission at the stated rate, Value Added Tax chargeable and any other amounts due to us by the seller in whatever capacity and however arising;


(g) “You”, “Your”, etc. refer to the buyer as identified in Condition 2.


(h) The singular includes the plural and vice versa as appropriate.


2. Bidding Procedures and Conduct of the Auction


(a) Bidders are required to register their particulars before bidding and to satisfy any security arrangements before entering the auction room to view or bid. Any bidder who refuses to provide the requested identification may be refused permission to bid.


(b) The auctioneer has discretion at any time to refuse any bid, withdraw any lot, re-offer a lot for sale (including after the fall of the hammer) if they believes there may be error or dispute, and take such action as they reasonably thinks fit.


(c) Subject to condition 2(b) the contract between the buyer and seller is concluded on the striking of the auctioneers hammer whereupon the buyer becomes liable to pay the purchase price.


(d) Any post auction sales of lots offered at auction shall incorporate these conditions as if sold in the auction.


(e) Our right to bid on behalf of the seller is expressly reserved up to the amount of any reserve and the right to refuse any bid is also reserved.


3. Increments. Bidding increments shall be at the auctioneer’s sole discretion.


4. The Purchase Price. The buyer shall pay the hammer price together with a premium thereon of 25%. The premium is subject to VAT at the standard rate. (30% inclusive of VAT)


5. Value Added Tax. Value Added Tax on the hammer price is imposed by law on all items affixed with an asterisk or double asterisk.


Value Added Tax is charged at the appropriate rate prevailing by law at the date of sale and is payable by buyers of relevant Lots. (Please refer to “Information for Buyers” for a brief explanation of the VAT position).


6. Payment (1) Immediately a Lot is sold you will: (a) give to us, if requested, proof of identity, and


(b) pay to us the total amount due in cash, debit, credit card or bank transfer or in such other way as is agreed by us.


(2) Any payments by you to us may be applied by us towards any sums owing from you to us on any account whatever without regard to any directions of you or your agent, whether express or implied.


7. Title and Collection of Purchases. The ownership of any Lots purchased shall not pass to you until you have made payment in full to us of the total amount due.


(a)(i) You shall at your own risk and expense take away any lots that you have purchased and paid for not later than 3 working days following the day of the auction in the case of furniture and rugs or 5 working days following the day of the auction in the case of all other items. Cheques are required to be cleared by our bank before collection of goods in which case storage charges may apply.


(ii) Roseberys are unable to pack, post or delivery any items purchased through public or online auction, a list of suggested companies is supplied upon issuing of invoices, upon request or on the company website/s. These are suggestions only and are not the recommendation of Roseberys or affiliated with Roseberys in anyway and as such Roseberys cannot be held responsible for the individual performance of these companies.


(b) No purchase can be claimed or removed until it has been paid for and payment has cleared.


(c) Invoices will not be split or title transferred to another person(s). Invoices must be paid in full before any lots can be removed.


(d) Purchased lots must be collected within the allocated time as stated in the Information for Buyers section 13, storage charges are applicable thereafter. Purchased lots are at the Buyer’s risk (and therefore their sole responsibility for insurance) from the earliest of the collection or the 21st calendar day after the auction. Until risk passes Roseberys will compensate the buyer for any loss or damage to the lot up to a maximum of the purchase price paid.


8. Remedies for Non-Payment or Failure to Collect Purchases


(1) If any Lot is not paid for in full and taken away in accordance with these


Conditions or if there is any other breach of these Conditions, we, as agent for the seller and on our own behalf, shall at our absolute discretion and without prejudice to any other rights we may have, be entitled to exercise one or more of the following rights and remedies:


(a) to proceed against you for damages for breach of contract;


(b) to rescind the sale of that Lot and/or any other Lots sold by us to you;


(c) to resell the Lot (by auction or private treaty) in which case you shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs). Any surplus so arising shall belong to the seller;


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