Terms and Conditions of Sale
INFORMATION FOR BUYERS
1. Introduction. The following informative notes are intended to assist Buyers of Roseberys London particularly those inexperienced or new to our salerooms or online only bidding platform. All sales are conducted according to our printed Conditions of Sale which are readily available for inspection in person, on our websites and normally accompany catalogues. Our staff will be happy to help you if there is anything you do not fully understand.
2. Agency. As auctioneers we usually contract as agents for the seller whose identity, for reasons of confidentiality, is not normally disclosed. Accordingly if you buy your primary contract is with the seller.
3. Estimates. Estimates are designed to help buyers gauge what sort of sum might be involved for the purchase of a particular lot. The lower estimate may represent the reserve price or may be above the reserve price. Estimates do not include the Buyer’s Premium or VAT (where chargeable). Estimates are prepared some time before the sale and may be altered by announcement before the sale. They are in no sense definitive.
4. Buyer’s Premium. The Conditions of Sale oblige buyers to pay a buyer’s premium of 25% up to £250,000 (30% inclusive of VAT), 20% from £250,000-500,000 (24% inclusive of VAT), 12% from £500,000 onwards (14.4% inclusive of VAT) The premium price is subject to VAT at the standard rate.
5. VAT. The addition of (*) or (VAT applied on hammer price) to the lot description indicates that VAT is payable by the purchaser at the standard rate, presently 20%, on the hammer price as well as being payable on the buyer’s premium. This imposition of VAT is likely to be because the seller is registered for VAT within the European Union and is not operating the Dealers Margin Scheme or because VAT is due at 20% on importation into the UK. Lots which appear without either of the above symbols indicate that no VAT is payable on the hammer price. This is because such lots are sold using the Auctioneers’ Margin Scheme and it should be noted that the VAT included within the premium is not recoverable as input tax.
6. Artist’s Resale Rights/Droit de Suite. Lots as indicated in the catalogue and if sold for the equivalent of 1000 euros or more on the day of the auction will be subject to a further percentage of the hammer price as follows:
From 0 to 50,000 euros subject to 4%
From 50,001 to 200,000 euros subject to 3%
From 200,001 to 350,000 euros subject to 1%
From 350,001 to 500,000 euros subject to 0.5%
Exceeding 500,000 euros subject to 0.25%
The Artist’s Resale Right payable will be the aggregate of the amounts payable under the above rate bands, subject to maximum royalty payable of 12,500 euros for any single work each time it is sold. Calculations of the artist’s resale right will be based on the pound sterling/Euro reference exchange rate quoted on the date of sale by the European Central Bank.
7. Agents. We are, primarily, agents for the seller. We are dependent on information provided by the seller and whilst we may inspect lots and act reasonably in taking a general view about them we are normally unable to carry out a detailed or any examination of lots in order to ascertain their condition in the way in which it would be wise for a buyer to do. Intending buyers have ample opportunity for inspection of goods and, therefore, accept responsibility for inspecting and investigating lots in which they may be interested.
Please note carefully the exclusion of liability for the condition of lots contained in the Conditions of Sale. Neither the seller nor we, as the auctioneers, accept any responsibility for their condition. In particular, mechanical objects of any age are not guaranteed to be in working order. Additionally, in specified circumstances lots mis-described because they are ‘deliberate forgeries’ may be returned and repayment made. There is a three week time limit. (The expression ‘deliberate forgery’ is defined in our Conditions of Sale).
8. Electrical goods. These are sold as ‘antiques’ or ‘decorative’ items only and if bought for use must first be checked for compliance with safety regulations by a qualified electrician.
9. Coloured gems. It is common practice for gemstones to be treated in order to enhance colour and clarity. Unless stated buyers should presume coloured stones may well have been exposed to some sort of treatment.
10. Export of goods. Buyers intending to export goods should ascertain (a) whether an export licence is required and (b) whether there is any specific prohibition on importing goods of that character because, e.g. they may contain prohibited materials such as ivory.
11. Bidding. Bidders are required to register with us before the sale commences and lots will be invoiced to the name and address on the registration form. Some form of identification may be required if you are unknown to us. Please enquire in advance about our arrangements for telephone bidding.
12. Commission bidding
(i) Commission bids may be left with the auctioneers indicating the maximum amount to be bid excluding the buyers’ premium. They will be executed as cheaply as possible having regard to the reserve (if any) and competing bids. If two buyers submit identical
commission bids the auctioneers may prefer the first bid received. Please enquire in advance about our arrangements for leaving commission bids by telephone, email or fax. Please ensure bids are left at least one hour prior to the start of the auction.
(ii) Commission bids may also be left via the Roseberys website. These bids are executed via the RoseberysLive software and there is no surcharge.
13. Live Online bidding
(a) An online bidding service is offered via RoseberysLive, thesaleroom.com and liveauctioneers.com. In completing the bidder registration on these sites the buyer is agreeing to Roseberys conditions of sale.
(b) In the case where a debit or credit card has been used to register the buyer also agrees to authorise Roseberys, if they so wish, to charge the debit or credit card given in part or full payment, including all fees, for items successfully purchased in the auction via the online bidding platforms.
(c) Please note there is no additional surcharge for any lots purchased via RoseberysLive, whether live bidding or commission bidding. Any lots purchased via thesaleroom.com or invaluable.com will be subject to an additional 3% commission charge + VAT at the rate imposed on the hammer price.
(d) Roseberys offers online bidding services as a convenience to its clients, but neither Roseberys nor the seller will be responsible to you for errors during or after the sale or failures to execute bids, either live bids or commission bids placed on the internet or on your mobile device, including, without limitation, errors or failures caused by: (i) any loss of connection to the auction being conducted online; (ii) a breakdown or problems with the online bidding software or the website service provider; and/or (iii) a breakdown or problems with any internet connection, computer, mobile device or system.
(e) By accessing RoseberysLive and using the software provided you are agreeing to the Website Terms and Conditions governing use of our websites. Please ensure you familiarise yourself with these prior to accessing our websites.
14. Methods of Payment. Payment can be made by cash (maximum 10,000 euros), debit and credit cards (maximum £1,000 online or over the phone) or bank transfer. For international bank transfers an administration fee of £25 is payable. Any cheques tendered will need to allow 10 days to be cleared before removal of lots purchased is permitted. Please note that regulation of money laundering means we are limited to receiving the equivalent of 10,000 euros in cash payment.
15. Collection and storage
(a) Please note what the Conditions of Sale state about collection and storage. It is important that goods are paid for and collected promptly. All lots must be collected within five working days following auction. Storage charges of £2 per lot per day + VAT will be strictly enforced thereafter.
(b) Roseberys are unable to pack, post or deliver 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.