Selling

Selling


A gold mounted nephrite photo frame marked Faberge. Sold for £18,000 plus premium.

We hold six Fine Art and Antiques auctions per year usually of around 400-500 lots. We sell an excellent range of traditional antiques including pictures, ceramics, vertu, works of art and silver, and we always have a strong and varied selection of jewellery. In addition to traditional antiques, we sell high end collectables and ephemera. We charge a competitive rate of commission and a £5 illustration fee for each item. If a lot is unsold only the illustration fee is charged. All fees and commission are subject to VAT.

If you have something that you would like to have valued, please bring the item along to one of our valuation days at Ripley Arts Centre or West Wickham (details can we be found on the home page). Or if you have a large collection of items, we can arrange for one of our experts to visit. Please telephone: 020 8313 3655 or 07808 737 694 for further information.

Conditions of Business for Sellers

The Conditions of Business for Sellers govern all aspects of the consignment, report, holding and sale of Property by Catherine Southon Auctioneers & Valuers Ltd and the Conditions of Business for Buyers, as printed in sale catalogues and available from Catherine Southon Auctioneers & Valuers Ltd upon request. Catherine Southon Auctioneers & Valuers Ltd act as agent for Sellers.

Conditions of Business for Buyers and/or Sellers may be amended by additional terms printed in the sale catalogue and/or by notices posted up in the saleroom or announced by the auctioneer.

DEFINITIONS
“Seller” is the owner of the Property, their agent, executors or the person in possession of the Property (as appropriate).
“The Company” means Catherine Southon Auctioneers & Valuers Ltd, Lygon House, 50 London Road, Bromley BR1 3RA, Company registration number: 08020183.
“Seller’s Commission” is the commission The Company charges Sellers of Property.
“Expenses” are The Company’s expenses, fees and charges relating to the Property, including legal expenses, insurance charges, illustration fees, administration fees, customs duties, shipping and packing costs and any other expenses and VAT on these amounts.
“Buyer’s Premium” is the commission The Company charges Buyers of Property.
“Hammer Price” is the highest bid for the Property accepted by the auctioneer.
“Reserve Price” is the minimum Hammer Price at which the Property may be sold, as agreed between the Seller and The Company.
“Net Sale Proceeds” are the proceeds of sale actually received by The Company, less Seller’s Commission, Buyer’s Premium and Expenses.
“Property” means any item or items of any kind accepted by The Company with a view to its or their sale at auction.
“Buyer” means the bidder (including a commission bidder) whom The Company has accepted by the fall of the auctioneer’s hammer.
“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.
The Seller’s Commission, Hammer Price, Buyer’s Premium and all Expenses are subject to VAT, where applicable.

1. SELLER’S WARRANTIES
(a) The Seller warrants to The Company and the Buyer that:-
(i) the Seller is the owner of the Property or is properly authorised to sell it;
(ii) the Seller shall transfer possession and good title in the Property to the Buyer, free from any third party claims;
(iii) the Seller has provided all relevant information about the ownership, condition, authenticity, attribution, provenance and import/export history of the Property;
(iv) there are no copyright or other restrictions on The Company’s rights to produce and publish images of the Property.
(b) The Seller will indemnify The Company, its directors, employees, officers and Buyers of the Property against all losses and damages resulting from a breach of any of these warranties or other Conditions of Business. The Company may cancel, rescind or postpone sales of Property where it reasonably believes that there has been or may be a breach of these warranties or any other Conditions of Business by the Seller.

2. SALE PREPARATION
(a) The Company shall have sole discretion as to how Property is described, illustrated and marketed, and the date, venue and conduct of the sale.
(b) All oral or written estimates, appraisals and reports are statements of opinion only, and may not be relied upon as a prediction of the sale price and may be revised from time to time by The Company. The Company is not responsible for error of description (made either orally or in any catalogue) or for the genuineness or authenticity of any lot.
(c) The Company may, without obligation, consult with third party experts and carry out such other research for the Property as it deems necessary. The Company may transfer possession of the Property to such third parties and shall not be responsible for the acts and omissions of such third parties.
(d) The Company shall have the absolute right to produce and publish images of any Property consigned for sale and will retain copyright in any such images it produces.
(e) The Company will charge a Buyer’s Premium on the sale of the Property at The Company’s standard rates. The Company reserves the right to pay out of its commissions a fee to any third party introducing Sellers or Property to it.
(f) Sellers are prohibited from bidding on their own Property.

3. WITHDRAWAL OF PROPERTY
(a) If the Seller withdraws any Property from sale after their written agreement to sell it, The Company may charge the Seller 50% of the Seller’s Commission and Buyer’s Premium that The Company would have received had the Property sold at its mid estimate, plus all Expenses (the “Withdrawal Fee”).
(b) The Company may withdraw any Property from sale without liability for any of the following reasons:- if (i) it reasonably believes that the authenticity or attribution is questionable; (ii) it reasonably believes that the Seller’s Warranties or other Conditions of Business have been breached; (iii) there is a competing ownership claim or lien over the Property; (iv) the Property does not have all licences and permits required by law, including those required under the Convention on the International Trade in Endangered Species (CITES); (v) the condition of the Property has deteriorated since consignment; (vi) the auction has been postponed for any reason.
(c) If the Property is withdrawn for any of reasons 3(b)(ii), or (iii) the Seller shall pay the Withdrawal Fee, as per Condition 3(a). If withdrawn for any other reason, the Property shall be returned to the Seller at the Seller’s expense.

 
 
4. EXCLUSION OF LIABILITY
(a) The Company shall not be liable for any errors or omissions in any written or oral information provided to Sellers or for acts or omissions relating to the conduct of the auction or any other matter relating to the sale of Property, whether negligent or otherwise, subject always to Condition 4(c).
(b) Without prejudice to Condition 4(a), any claim against The Company shall be limited to the Net Sale Proceeds for the relevant Property. The Company shall not in any circumstances be liable for any indirect or consequential losses.
(c) The Company’s liability to the Seller in respect of death or personal injury caused by The Company’s negligent acts or omissions shall not be excluded or limited.

5. LOSS OR DAMAGE TO PROPERTY
(a) Unless otherwise agreed in writing, The Company will assume the risk of loss or damage to Property received from the Seller until:-
(i) risk passes to the Buyer; or
(ii) if unsold, 30 days after the sale or when released to the Seller (whichever is earlier); or
(iii) 6 months after receipt of the Property by The Company, if not consigned for sale.
(b) If damage or loss occurs whilst the Property is at the risk of The Company, the maximum amount of The Company’s liability shall be:
(i) the Hammer Price of the Property, if sold;
(ii) the Reserve Price of the Property or as otherwise stated on the Property Receipt, if unsold; or
(iii) the mid estimate, if not offered for sale (or The Company’s reasonable estimate of auction value where there are no pre-sale estimates);
less Seller’s Commission and Expenses.
(c) The Company will not be liable for any loss or damage caused by:- (i) normal wear and tear, gradual deterioration or inherent vice or defect; (ii) errors in processing; (iii) war or radioactive contamination.

6. VAT
If any Property is an asset of the Seller’s business, the Seller must notify The Company on delivery of the Property to The Company, whether or not he is registered for VAT purposes and if so, his registered number and whether or not he intends to operate the VAT Used Goods Scheme covering amongst other goods, works of art and antiques.

7. POST AUCTION SALES
If any Property fails to sell at auction, The Company shall be entitled for a period of 35 days after the auction to sell the Property privately for no less than the Reserve Price (unless otherwise agreed with the Seller) and on the terms of these Conditions of Business.

8. PAYMENT OF NET SALE PROCEEDS
(a) Subject in all cases to prior receipt of cleared funds by The Company and subject to rescission of the sale under Condition 10, 35 days after the sale date or 5 working days after receipt of cleared funds from the Buyer (whichever is later), The Company shall send the Seller the Net Sale Proceeds in pounds sterling, less any other amounts owed by the Seller to The Company.
(b) The Company shall not be obliged to check the ability of Buyers to pay for Property and shall have absolute discretion whether to use any of the rights and remedies against defaulting Buyers contained in the Conditions of Business for Buyers.

9. UNSOLD / UNCOLLECTED PROPERTY
(a) The Company will advise Sellers whether or not their Property has sold. Unsold Property may either:-
(i) be reconsigned for sale; or
(ii) be collected by the Seller, in which case a Reduced Commission of 50% of the Seller’s Commission may be payable calculated as if the Property sold for its Reserve Price (where applicable), plus relevant Expenses.
(b) If the Seller does not reconsign or collect the Property within 60 days of the auction as per Condition 8(a) (i) or (ii) above, The Company shall be released from any duty of bailment and may in its sole discretion be entitled to:-
(i) transfer the Property to independent storage at the Seller’s expense; or
(ii) re-offer the Property at auction for no less than 50% of the original Reserve Price agreed with the Seller (where applicable), and subject to the Seller’s Commission on the re-sale plus all relevant Expenses.
(c) If the Seller deposits the Property with The Company for more than 1 year and neither collects or consigns it for sale, The Company shall be entitled to sell such Property at a future sale conducted by The Company or elsewhere, with estimates and reserves at The Company’s discretion, after giving the Seller 60 days written notice sent to the Seller’s last known address.

10. RESCISSION OF SALES
The Company may rescind the sale where it reasonably believes that the Property is a Deliberate Forgery, in which case The Company shall send the Seller a notice of such rescission. The Seller agrees to return to The Company the Net Sale Proceeds received from the sale of such Property together with any additional Expenses incurred by The Company. The Company will return the Property to the Seller upon receipt of the Net Sale Proceeds and Expenses, unless prevented from doing so for reasons beyond The Company’s control.

11. DATA PROTECTION
(a) The Company will use information supplied by Sellers or otherwise obtained lawfully by The Company for the provision of auction related services, client administration, marketing and as otherwise required by law.
(b) By agreeing to these Conditions of Business, the Seller agrees to the processing of their personal information and to the disclosure of such information to third parties world-wide for the purposes outlined in Condition 11(a).

12. MISCELLANEOUS
(a) If any part of these Conditions of Business be held unenforceable, the remaining parts shall remain in full force and effect.
(b) These Conditions of Business shall be interpreted in accordance with English Law under the exclusive jurisdiction of the English Courts, in favour of The Company.