General Conditions of Sale
1. Definitions
In these Terms and Conditions, "The Auction House North Shields Ltd" will be referred to as "The Auction House," "we," "us," or "our." The individual conducting the auction is known as the Auctioneer. These definitions apply to both these Conditions and the Buyer’s Information Form.
- Auctioneers’ Margin Scheme - Defined in Clause 20.
- Buyer - The highest bidder for a Lot, as determined by the Auctioneer.
- Buyer’s Premium - A percentage of the Hammer Price added to the Hammer Price, payable to The Auction House, as specified in Clause 28.
- Conditions - These Terms of Business, including the Buyer’s Information Form.
- Condition Report - A report detailing the condition of a Lot, available upon written request from a prospective buyer, as described in the Buyer’s Information Form.
- Sale - The purchase of a Lot by the Buyer from the Seller.
- Prospective Buyer - Any person expressing interest in purchasing a Lot.
- Day of Sale - The date on which an auction for a Lot occurs.
- Lot(s) - The items offered for sale at auction.
- Hammer Price - The final price a Prospective Buyer bids for a Lot, as confirmed by the Auctioneer.
- View Day(s) - The days determined at our discretion for prospective buyers to view the Lots.
2. Agency
The Auction House acts solely as an agent for the Seller, and we are not responsible for any default by the Buyer.
3. Attribution and Condition of Lots
While we strive for accuracy in any statements regarding authorship, origin, condition, and other attributes of a Lot, these are only opinions. By bidding, the Buyer confirms they are satisfied with the Lot's condition and attribution. We do not provide warranties or guarantees regarding any Lot's condition or authenticity.
- Forgery: If a Lot is found to be a deliberate forgery, the Buyer may return it within 21 days of the Sale, provided the item is in the same condition and is accompanied by supporting evidence. A refund will be given unless the catalogue description or condition report reflects the consensus of scholars at the time of the sale or the Buyer cannot transfer a good title.
4. Liability
Our liability is limited by law and does not extend to:
- Death or injury caused by negligence.
- Fraud or fraudulent misrepresentation.
- Breach of terms implied by the Supply of Goods and Services Act 1982.
In all other cases, our liability to the Buyer or Seller will not exceed the Lot’s sale price.
5. Disputes
Any dispute not covered by these Conditions will be resolved at our sole discretion.
6. General
The Auction House reserves the right to refuse admission to the premises or auction participation. We will not be liable for delays caused by circumstances beyond our control. These Conditions constitute the entire agreement, superseding any prior agreements, and may only be modified in writing.
- Governing Law: These Conditions are governed by the laws of England, and any disputes will be resolved by the courts of England.
7. VAT
Currently, we are VAT-exempt. Once VAT-registered, VAT will be applicable on all commissions, premiums, and charges.
Relating to the Seller
8. Commission
The Seller will pay a commission of 20% of the Hammer Price for each Lot sold. The commission is due upon demand.
9. Right to Refuse
We reserve the right to refuse any Lot for sale.
10. Unsold Items
An unsold Lot will incur no fee. However, if the Seller does not wish for the Lot to be reoffered, it will be stored for up to seven days free of charge. After that, a £5 per day charge will apply for storage. All storage fees must be settled before any items are released.
11. Haulage Charges
Haulage services are charged at £60 per hour, with a minimum charge of £60. This includes travel time, loading, unloading, and packing.
12. Withdrawal or Cancellation by Seller
The fee for withdrawing a Lot or cancelling a sale before the auction is 20% of the Lot’s estimated value, plus any reasonable costs incurred.
13. Withdrawal or Cancellation by The Auction House
We reserve the right to withdraw any Lot from a Sale, and will not accept liability for any such withdrawal.
14. Loss and Damage Warranty
We will hold goods in our custody against breakages, fire, theft, and water damage unless the Seller has other insurance. We are not responsible for loss, damage, or theft of goods not covered by insurance.
15. Illustrations and Photographs
We retain the copyright to all images created for marketing purposes.
16. Reserves
Sellers may place a reserve on any Lot, but it cannot exceed the lower estimate or may be increased by 10% at the Auctioneer’s discretion.
17. Electrical Items
Electrical items must meet current legislation. We reserve the right to dispose of any items not in compliance.
18. Soft Furnishings
Soft furnishings must comply with the Furniture and Furnishings (Fire) (Safety) Regulations. Non-compliant items will be rejected.
19. Disposal of Items
We reserve the right to dispose of items considered unsaleable, and the Seller will incur any disposal charges.
20. VAT
Once VAT-registered, we will apply VAT on all commissions, premiums, and charges.
21. Auctioneers' Margin Scheme
We may sell items under the Auctioneer's Margin Scheme, meaning VAT will not be applied to the Hammer Price but will be added to the Buyer’s Premium.
22. Payment
The Seller will receive the "net sale proceeds" no later than 28 working days after the auction, minus commission and expenses.
The Seller waives any claim for interest during the payment period.
23. Consigning Lots
We may include unsold Lots in future auctions, although reasonable efforts will be made to notify the Seller.
Relating to the Buyer
24. Registration
Prospective Buyers must register in writing before the sale, providing full name, address, and contact details. Proof of identity is required for first-time buyers. A paddle number will be issued upon registration.
25. Condition Reports
While we provide condition reports upon request, Buyers are advised to view the Lots they intend to bid on and satisfy themselves of their condition.
26. Telephone Bidding
Requests for telephone bids must be made at least one hour before the View Day. Telephone lines are subject to availability and a minimum Lot value of £40.
27. Online Bidding
Online bidding will be available in the future via easylive.com.
28. The Buyer
The highest bidder recognized by the Auctioneer will be the Buyer. If a dispute arises, the Auctioneer has sole discretion to settle the matter.
29. Buyer’s Premium
- 15% Buyer’s Premium is payable for Antiques & General Sales when paying by Bank Transfer or Cash.
- 16.5% Buyer’s Premium applies when paying by Debit or Credit Card.
30. Auctioneers’ Margin Scheme
Under the Auctioneers' Margin Scheme, VAT is applied to the Buyer’s Premium, but not to the Hammer Price.
31. Payment
Payment is due immediately after the auction and must be in pounds sterling. Payment methods include:
- Bank Transfer
- Debit or Credit Card
- Cash (up to £1,000)
Bank transfers should be sent to:
Lloyds Bank PLC
| Sort code | 30-54-66 |
| Account number | 31281268 |
| Account name | The Auction House North Shields Ltd Auctioneers Client account |
| IBAN | GB19LOYD30546631281268 |
| Swift/BIC | LOYDGB21F95 |
Card payments where the cardholder is not present will be accepted only for transactions up to £500.00. Payment can be made and purchases collected at the end of the auction. Accounts that remain unpaid for seven days will automatically incur an interest charge of 5% above the base rate, calculated from the date of the sale.
32. Transfer of Risk
The risk associated with the Lot will pass to the Buyer upon the completion of the Sale by the Auctioneer. The Auction House North Shields Ltd is not responsible for the accuracy, genuineness, or authenticity of any Lot as stated in these Conditions. The Buyer is considered to have inspected each Lot and satisfied themselves regarding its condition.
33. Ownership of the Lot
Ownership of the Lot(s) purchased will not transfer to the Buyer until the full payment is made to The Auction House North Shields Ltd, and the payment is applied to the Lot.
34. Storage and Collection
Please be aware that furniture, carpets, clocks, and larger works of art will remain at our premises for seven days following the sale. After this period, items will be moved to storage, and arrangements for collection must be made in advance by the Buyer.
Storage charges will be applied to all Lots not collected within seven days of the Sale. This includes a handling fee of £5.00 per Lot and a storage charge of £5.00 per Lot per day. Lots may not be collected until these charges are paid in full, without set-off or deduction.
35. Droit De Suite / Artist’s Resale Rights
From 14 February 2006, UK art market professionals (including auctioneers) are required to collect a royalty payment for works of art created by living artists and those who have passed away within the last 70 years. This payment applies to qualifying works of art sold for a hammer price of more than £1,000. It is the responsibility of the Buyer to check the applicable Euro to UK sterling exchange rate on the day of the sale. The exact qualifying threshold will be calculated by the Artist’s Resale Right Service Hub based on the European Central Bank reference rate published at 2:15 PM on the day of the sale and can be found at www.dacs.org.uk.
