Terms & Conditions for Sellers

Catherine Southon Auctioneers and Valuers - Terms of Business for Sellers

Definitions

Catherine Southon – Catherine Southon Auctioneers and Valuers

AMS - means the Auctioneers Margin Scheme for accounting for Value Added Tax as operated by SAR and as referred to in VAT notice 718/2 or any subsequent update, replacement or revision of that notice. 

Buyer - any person who has bought a lot from the Vendor at auction run by HFA. 

Buyer’s Conditions - the conditions upon which HFA contracts to sell a Lot at auction to a Buyer.

Commission - a sum equivalent to 15% of the Hammer Price plus VAT. 

Dangerous Substances - any natural or artificial substance capable of causing harm to any living organism, or damaging the environment or public health or welfare. 

Environmental Laws - all laws, regulations, codes of practice, circulars, guidance notices and the like (whether in the UK or elsewhere) concerning the protection of human health or the environment or the conditions of the workplace or the generation, transportation, storage, treatment or disposal of Dangerous Substances. 

Estimate - the written estimate of the likely range of Hammer Price which any Lot may achieve at auction as set out on the face of this agreement.

Expenses - any expenses reasonably incurred by HFA in exercising its obligations or rights under clauses 21, 23 and 24. 

Hammer Price - the price, in pounds sterling, at which a Lot is sold to a Buyer. 

Limit of Liability - a sum equivalent to the Reserve, or in the absence of any Reserve the median of any Estimate.

Lot - means, as the context so requires, any item or collection of items (including a single item forming part of such a collection) as described on the face of this Agreement;

Lotting Fee - the sum of £2.00 in respect of any Lot sold at auction. 

Owner - the Vendor or such other person possessing legal title to a Lot who has been notified by the Vendor to HFA as being the Owner pursuant to clause 4.

Proceeds of Sale - the Hammer Price less any Commission, Lotting Fee, Expenses or other sums to which Catherine Southon may be entitled pursuant to this agreement.  

Reserve - the minimum Hammer Price at which HFA may sell any Lot at auction, as set by the Vendor pursuant to clause 13; 

Vendor - the person named on the face of this Agreement who places a Lot with Catherine Southon for sale at Auction. Reference to “Vendor” includes a reference to the Owner unless precluded by the context.

Unsaleable Lot - a lot which is unsold at auction or, in the opinion of HFA, has no reasonable prospect of being sold at any future auction.

VAT - Value Added Tax at the prevailing rate.

Vendor Receipt - the Face of this Agreement.

Withdrawal Fee - a sum equivalent to 33% of the top estimate, plus any additional storage and admin fees, payable entirely at the discretion of the auctioneer.

1. This agreement sets out the terms and conditions upon which HFA agrees to accept and sell Lots at auction on behalf of the Vendor.
   
   
2. SAR acts at all times as agent for the Vendor. Lots will be sold subject to the Buyers’ Conditions which are published on HFA’s website and hard copies are available at the Vendor’s request. The Vendor is deemed to have full knowledge thereof.
   
   
3. The Vendor is deemed to be the Owner unless he notifies HFA otherwise in writing.
   
   
4. If the Vendor is not the Owner, then the Vendor; (a) must give to HFA such details of the identity of the Owner as Catherine Southon may require; and (b) warrants to HFA that he is acting as agent of the Owner and is properly authorised by the Owner to sell the Lot and to receive and the Proceeds of Sale on the Owner’s behalf.   
   
   
5. The Vendor warrants to Catherine Southon and to the Buyer that:
   
   5.1 the Vendor is able to transfer good and marketable title to the Lot free from any liens, charges or third-party claims.
   
   5.2 any description or information supplied by him to HFA in connection with the Lot is accurate to the best of his knowledge, information and belief.
   
   
6. The Vendor warrants to HFA that he will indemnify and hold harmless HFA against any breach of the warranties contained in clause 5.
   
   
7. The Vendor must deliver the Lot to premises specified by HFA unless otherwise agreed with by HFA. In that event, HFA, acting as agent for the Vendor, will instruct a contractor to collect the Lot. HFA will take reasonable steps to ensure that any contractor instructed pursuant to this clause is insured against risk of breakage or theft of the lot but shall otherwise have no liability whatsoever to the Vendor for damage, destruction or theft of the Lot. The Vendor will, on demand, pay Expenses incurred by HFA.
   
   
8. Any Lot delivered to, or collected by HFA pursuant to clause 7, will be deemed to be delivered for sale by auction unless otherwise stated by the Vendor in writing.
   
   
9. The Vendor is deemed to have full knowledge of the AMS. Any Vendor who sends for sale by auction any Lot which is an asset of his business or otherwise falls outside the AMS must disclose this to HFA at the time of entering this agreement and must disclose whether he is registered for Value Added Tax purposes, and, if so, his registered number. The Vendor will indemnify and hold harmless HFA in respect of any charge to VAT incurred by SAR as a result of any breach of this clause, 9.
   
   
10. If the Vendor has in force a policy or policies of insurance in respect of any Lot the Vendor shall take all steps as may be necessary to ensure that HFA, as bailees of that Lot, have the benefit of that insurance including but not limited to notifying his insurers of HFA’s interest as bailees in such policy or policies.
    
    
11. HFA shall no liability whatsoever for damage or destruction of any Lot unless caused; (a) by the direct negligence of its employees; or (b) otherwise by fire, water damage or theft following forcible entry.
    
    
12. In any event, the liability of HFA in respect of damage or destruction to a Lot, however caused, shall be limited to the Limit of Liability.
    
    
13. If the Vendor wishes to set a Reserve, he must notify HFA of the amount of the Reserve at the time of entering into this agreement. Unless such notification is given all Lots shall be sold without Reserve.
    
    
14. No Reserves may be set at a level which is less than £50 or higher than the lowest Estimate.
    
    
15. All Reserves are subject to 10% Auctioneers discretion unless otherwise agreed at the time of consignment.
    
    
16. Withdrawal of any Lot after cataloguing is entirely at the auctioneer’s discretion. If the Vendor should withdraw a Lot from sale then a Withdrawal Fee will apply.
    
    
17. The Vendor shall pay to HFA:
    
    17.1 Commission on any Lot sold at auction. The Vendor acknowledges that HFA may also charge commission to any Buyer of any Lot pursuant to the Buyer’s Conditions; and
    
    17.2 The Lotting Fee, if applicable
    
    
18. Subject always to receipt from the Buyer, HFA will pay the Proceeds of Sale to the Vendor within 15 working days of the Auction at which a Lot is sold. For the avoidance of doubt the Vendor will not be entitled to any interest on the Proceeds of Sale. 
    
    
19. HFA shall be entitled to deduct any sums due under this agreement from any other monies owed by SAR to the Vendor including but not limited to Commission, Lotting Fee and Expenses.
    
    
20. HFA shall notify the Vendor if, following any auction, any Lot is an Unsaleable Lot. 
    
    
21. The Vendor must collect a withdrawn Lot or an Unsaleable Lot within 5 working days. If any Lot is not removed in accordance with this clause 21, HFA shall, without further notice to the Vendor, at its absolute discretion, be entitled to exercise one or more of the following remedies (without prejudice to any other rights it may have):
    
    21.1 store and insure the Lot at the expense of the Vendor;
    
    21.2 sell the Lot by auction, private treaty or any other means;
    
    21.3 dispose of the Lot by any means it sees fit;
    
    21.4 charge the Vendor for Expenses;
    
    21.5 exercise a lien on any other property of the Vendor in HFA’s possession for any purpose;
    
    
22. In the event that a Buyer fails to make payment for any Lot, HFA will consult with the Vendor in relation to any remedies which the Vendor may have against the Buyer by reason of the Buyers Conditions and may, in its absolute discretion, assist the Vendor to recover any sums due by exercising its rights against the Buyer. For the avoidance of doubt nothing in this agreement compels HFA to incur any cost or take legal proceedings against the Buyer in its own name.
    
    
23. The Vendor of any Lot containing Special Goods or Dangerous Substances warrants and undertakes to HFA that on the date on which the same are consigned to or put under HFA’s control that;
    
    23.1 they are safe (if used for the purpose for which they were designed) and free from any defect which might cause personal injury or death; and
    
    23.2  they comply with all applicable legislation including (but not limited to) the Health   and Safety at Work Act 1974 as amended from time to time, Health and Safety Regulations and Dangerous Substances Regulations. 
    
    23.3  the Vendor has obtained all requisite environmental licences and approvals required by Environmental Law; and
    
    23.4 he will indemnify and hold harmless HFA, its employees or agents against any loss or damages suffered by any or all of them as a result of any breach of any of the warranties contained in this clause 23 or any negligence of the Vendor, its employees and agents.
    
    23.5 he will indemnify and hold harmless HFA against any claim for damage to property, personal injury or death injury arising out of any defect or danger inherent in the Lot.
    
    23.6 the Vendor acknowledges that HFA are the Vendor’s agents and for the purposes of all legislation applicable to Special Goods and Dangerous Substances, including, but not limited to, Health and Safety legislation and regulations and Consumer Protection Act 1987, the Vendor acts as consignor and supplier.
    
    23.7  indemnify HFA against any Expenses in checking any Lot to ensure compliance with this clause 23.
    
    
24. In the event that a Buyer exercises or purports to exercise the right to rescind the contract for sale of any Lot (whether pursuant to the terms of the Buyers Conditions or otherwise) HFA may take such steps as it considers reasonable, to determine ownership or authenticity of the Lot including but not limited to obtaining expert or legal advice, and if, in HFA’s reasonable opinion the Buyer is entitled to rescind, then HFA may;
    
    24.1 refund to the Buyer any amount already paid in respect of the Lot; and
    
    24.2 recover any monies already paid to the Vendor in respect of that Lot.
    
    24.3 recover any Expenses from the Vendor
    
    
25. The vendor gives HFA full and absolute right to photograph or illustrate any Lot and copyright in such photographs and illustrations shall vest in HFA.