A - GENERAL CONDITIONS
Definitions 1.1 - In these conditions:
“the Auctioneer” means the representative of Whare Haus Ltd t/a Ellis Willis & Beckett conducting the auction.
“the Buyer” means the bidder (including a commission bidder under Condition 30) whom Ellis Willis & Beckett (EWB) has accepted by the fall of the auctioneer’s hammer.
“the Catalogue” means any advertisement, brochure, price list or other publication relating to the auction published on behalf of EWB.
“Dangerous Substances” means any natural or artificial substance capable of causing harm to any living organism supported by the environment or damaging the environment or public health or welfare.
“Environmental Law” means 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.
“Expenses” means EWB’s charges for illustrations, special advertising, insurance, import, packing and freight and any other expenses and VAT on these amounts.
“Hammer Price” means the price at which a Lot is knocked down by the Auctioneer to the Buyer.
“Lot” means any item or items of any kind accepted by EWB with a view to its or their sale at auction;
“the Purchase Price” means the Hammer Price in pounds sterling together with any premium plus VAT chargeable and additional charges and expenses due from a defaulting buyer under Condition 35;
“the Reserve” means the minimum Hammer Price set by the Vendor at which a Lot may be sold and otherwise subject to Condition 12;
“the Sale Proceeds” means the net amount due to the Vendor, being the Hammer Price less commission at the Stated Rates and Expenses and any other amounts due to EWB;
“the Vendor” means the seller or prospective seller of any Lot; “Special Goods” means boats, motor vehicles, firearms and mechanical and electrical goods;
“the Stated Rates” means EWB’s published rates of commission for the time being and VAT;
“Storage Charges” means charges imposed by EWB in respect of the removal, storage and transportation of any Lot;
“VAT” means Value Added Tax.
1.2 - The heading and divisions in General Conditions, Vendor’s Conditions and Buyer’s Conditions in these Conditions are for convenience only and shall not affect their interpretation.
1.3 - In these Conditions the singular includes the plural, and the masculine indicates the feminine and neuter.
2 – General
2.1 - EWB acts as agents for the Vendor (except where it is expressly stated to be selling as principal) and is not responsible for any default by the Seller or Buyer.
2.2 - EWB has the right to refuse admission to its premises or attendance at its auction by any person. All persons are admitted to EWB’s premises to attend an auction on the basis that they have notice of these Conditions.
2.3 - The copyright in all illustrations and written matter (including the Catalogue) relating to each Lot is the absolute property of EWB and no person may use or copy the same without the prior written consent of EWB.
2.4 - EWB makes every effort to ensure that the Catalogue and description of the Lot are accurate, but EWB makes no warranty to that effect.
2.5 - All Statements whether made verbally or in the Catalogue are statements of opinion only and neither EWB or its employees or agents will be responsible for the accuracy of any opinion given. Each Lot is sold by the Vendor with all errors of description, faults and imperfections.
2.6 - EWB has the right to divide any Lot or combine two or more Lots, refuse any bid, withdraw any Lot from auction or (in the case of dispute) put any Lot up for auction again. The Auctioneer shall have the right to advance the bidding as he may decide.
2.7.1 - EWB shall be under no liability for any damage or loss sustained by any person while on EWB’s premises or while attending auctions conducted by EWB except for death or personal injury caused by the negligence of EWB, its employees and agents.
2.7.2 - EWB shall not be liable for any damage caused by the Vendor or the Buyer to third parties or their property while on EWB’s premises or on any other premises from which EWB’s conducting auctions.
2.8 - In the event of a sale after the auction of any Lot by private treaty the Vendor and the Buyer agree to be bound by these Conditions and any agreed special conditions of sale.
2.9 - These Conditions shall be the only terms applicable to the sale of any Lot at an auction conducted by EWB.
2.10 - Any notice by EWB to a Vendor, prospective Vendor, consignor, prospective bidder or Buyer may be delivered by hand, sent by first class mail or air mail or facsimile to the address last notified to EWB and shall be deemed to be received:
2.10.1 - if hand delivered, at the time of delivery.
2.10.2 - if sent by facsimile within 8 hours of transmission during business hours.
2.10.3 - if sent by mail within 48 hours of posting if posted to an address within the UK and 7 days of posting if posted to a country outside the UK.
2.11 - All transactions to which the Conditions shall apply shall be governed by English Law. In the event of any dispute between EWB, the Vendor and the Buyer concerning the sale of any Lot at an auction conducted by EWB, the matter shall be referred to a single arbitrator to be agreed upon by the parties.
B - VENDORS’ TERMS & CONDITIONS
3 – Default
EWB disclaim responsibility for either the Buyer or the Vendor because they act as agents for the vendor only and do not pay the vendor until payment is received from the buyer.
4 - Warranty of Title
4.1 - The Vendor warrants to EWB and to the Buyer that he is the true owner of the Lot or is properly authorised by the true owner to sell the Lot and can transfer good and marketable title to the Lot free from any liens, charges or third-party claims. When the Vendor is authorised by the true owner to sell the lot, the Vendor must name the owner and produce such written evidence of his authority as EWB may request.
4.2 - The Vendor warrants to EWB, its servants and agents and the Buyer against any loss or damage suffered in consequence of any breach of the above on the part of the Vendor.
4.3 - The Vendor warrants that all information supplied to EWB in connection with the Lot is accurate to the best of his knowledge, information and belief.
5 – Instructions
5.1 As EWB are Auctioneers, all goods delivered to their premises will be deemed to be delivered for ales by auction unless otherwise stated in writing. All goods will be entered in those sales which EWB considers suitable and sold at the auctioneer’s discretion. All goods are accepted by EWB subject to their conditions of sale. By delivering goods to EWB each Vendor acknowledges that he or she has accepted and agreed to be bound by all conditions of sale of EWB.
6 – Collection
6.1 - EWB do not themselves usually undertake the collection of goods but will, if required, instruct a contractor on the vendor's behalf in their capacity as agents. EWB disclaim all responsibility for loss or damage to goods or for unauthorised removal of goods and for damage to premises caused by the contractor who should be insured for such risks. Unless written instructions are received to the contrary these services will be deducted from the proceeds of sale.
6.2 - EWB will not collect goods for sale unless otherwise agreed and where EWB agrees to collect any such goods, the risk in such goods remains with the Vendor.
7 - Loss or Damage
7.1 EWB disclaim all responsibility for loss or damage to goods unless caused by the direct negligence of their employees.
8 – Storage
8.1 - EWB reserve the right to store or arrange for storage of delivered goods delivered to them for sale either on their own premises or elsewhere at their sole discretion. EWB exempt themselves from any liability for loss or damage of goods delivered to their salerooms or other premises without sufficient sale instructions, unless the loss or damage is caused by the direct negligence of an employee of EWB.
8.2 - Storage charges may apply at the rate of £5 per lot per day.
9 - Unsaleable Goods
9.1 Unless otherwise instructed by accompanying or previously received written notice, all goods delivered to their premises which in EWB’s opinion have no saleable value will be disposed of at EWB’s discretion, either to a charity or by consignment for destruction. A charge will be made for this service.
10 - Right To Sell
10.1 Vendors will be charged at a rate of £5 per lot per day for lots left on EWB’s premises after the vendor has been requested to remove them. This charge is backdated to the date of sale and if the goods are not removed within 21 days of such request EWB reserves the right to sell the goods at their absolute discretion without further notice in order to defray costs and storage charges.
11 - Risk of Loss or Damage
11.1 - The Vendor shall be responsible for insuring their goods until they arrive at the premises of EWB.
11.2 - Unless otherwise instructed in writing, all goods on EWB’s premises and in their custody will be held insured against the risks of fire, theft following forcible entry, and water damage, but not against damage caused by humidity or temperature changes, inherent conditions or defects, error in processing, war, nuclear radiation or radioactive contamination. The value of the goods so covered shall be the gross amount realised, or in the case of unsold lots the reserve; in the absence of a reserve or in the case of goods withdrawn prior to sale that which the specialist staff of EWB shall in their absolute discretion estimate to be the auction value of such goods.
11.3 - EWB shall not be responsible for accidental breakage, loss or damage unless caused directly by the negligence of their employees. In no event will EWB be liable for damage to glass or picture frames (or cleavage of stones) whether forming the whole or part of any Lot, or depreciation in value following repairable damage to any lot.
11.4 - In respect of any article delivered to EWB, if the vendor has in force a policy or policies of insurance in which the article is specifically mentioned as being insured, whether for an agreed sum or value, the vendor shall notify his insurers of and shall himself note EWB’s interest as bailees in such policy or policies.
12 – Reserves
12.1 - All goods are offered for sale WITHOUT RESERVE at the Auctioneer's discretion unless written instructions as to reserves are received by EWB prior to the commencement of the sale. Where requested, advice on reserves will be discussed and agreed. Reserves placed by telephone are accepted at the sole risk of the vendor and must be confirmed by the vendor in writing to be received by the Auctioneers prior to the commencement of the sale.
12.2 - All reserves are subject to 10% Auctioneers discretion.
13 - Special Goods and Dangerous Substances
13.1 - The Vendor of any Lot containing Special Goods or Dangerous Substances warrants and undertakes to EWB that on the date on which the same are consigned to EWB or put under EWB’s control that
13.1.1 - 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
13.1.2 - they comply with all applicable legislation such as (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.
13.2 - The Vendor of any Lot containing Dangerous Substances warrants and undertakes to EWB that as at the date when the same are put under EWB’s control
13.2.1 - the Vendor has obtained all requisite environmental licences and approvals required by Environmental Law; and
13.2.2 - the vendor has complied with all the Environmental Law and Environmental licences, which are applicable to the dangerous substances.
13.3 - The Vendor agrees to indemnify EWB, 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 condition 13 or any negligence of the Vendor, its employees and agents.
13.4 - The Vendor acknowledges that EWB 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.
13.5 - EWB reserve the right to make a minimum charge of £5.00 per item to have electrical goods checked by an electrician if required.
14 – Indemnity
The vendor shall duly indemnify EWB against any claim in connection with any goods sold by EWB on the vendor’s behalf.
15 - Value Added Tax
A vendor who sends for sale by auction any chattels which is an asset of his business must disclose to the Auctioneers whether or not he is a registered person for Value Added Tax purposes, and, if so, his registered number and whether or not he intends to operate the special scheme covering works of art and antiques. This information must be supplied to the Auctioneers on or prior to delivery of the goods.
16 - The Auctioneers’ Margin Scheme
The Auctioneers’ Margin Scheme allows Auctioneers to sell items without VAT on the Hammer Price. Under the Auctioneers’ Margin Scheme an amount equivalent to VAT at the current rate is added to the Buyer’s Premium. This amount cannot be refunded. The VAT element will not be shown separately on the Buyer’s invoice.
17 – Commission
The Vendor authorises EWB to deduct Commission & Expenses at the Stated Rates from the hammer price and acknowledges the Auctioneer's right to retain premium payable by the purchaser. Vendor’s commission is charged at the rate of 10% plus VAT per lot sold.
18 - Photographs and Illustrations
The vendor gives EWB full and absolute right to photograph and illustrate any lot and to use such photographs and illustrations and any photographs provided by the vendor at any time at its absolute discretion, whether or not in connection with the auction. EWB have absolute discretion on the illustration of any lot in the catalogue at the Vendor’s expense.
19 - Payment of Sale Proceeds to the Vendor
19.1 - The Sale Proceeds received from the buyer in cleared funds will be forwarded to Vendors no later than 28 days after the auction. Where the Buyer makes a payment more than 21 days after the auction, we shall send to the vendors the Sale Proceeds within 5 working days of receipt of cleared funds. The Sale Proceeds are the hammer price less commission and expenses set out in the terms of business. The vendor waives any right to interest that may be earned during the period from payment by the buyer to receipt of the 'net sale proceeds' by the Vendor.
19.2 - Vendors should note that notwithstanding any other terms of these conditions, the vendor(s) may on certain circumstances be liable to Buyer(s) in respect of disputed catalogue descriptions, even though they have been made innocently and in good faith.
19.3 - If the Buyer fails to pay the Purchase Price within 28 days of the auction EWB will notify the Vendor who will instruct EWB as to the appropriate course of action to take and if in the opinion of EWB such action is practicable, it will endeavour to assist the Vendor to recover the Purchase Price, but EWB shall be under no obligation to institute proceedings against the Buyer in its own name. If EWB do not receive instructions from the Vendor or if in the opinion of EWB such proposed course of action is not practicable for whatever reason, then EWB shall be entitled to:
19.3.1 - agree terms with the buyer for payment of the Purchase Price;
19.3.2 - where necessary, rescind the sale of the Lot and refund any monies paid by the Buyer
19.4 - If not withstanding that Buyer fails to pay to EWB the Purchase Price, EWB remits to the Vendor the Sale Proceeds, the ownership of the Lot shall pass to EWB.
20 - Buyer’s Premium
20.1 - The Buyer shall pay the Hammer Price together with a premium of 19.5% of the Hammer Price plus VAT. This premium is payable by all purchasers. The amount invoiced will be premium plus VAT (where VAT is chargeable) but this VAT will not normally be recoverable by the buyer. Any lot purchased through the services of ATG Media www.the-saleroom.com will be subject to a further charge of 4.65% plus VAT of the Hammer Price and www.easyliveauctions.co.uk will be subject to a charge of 3.6% plus VAT. Any lot purchased through www.ewbauctions.com will be subject to a further charge of 3% plus VAT of the Hammer Price.
20.2 - The Vendor authorises the Auctioneer to deduct commission and expenses at the stated rates from the hammer price and acknowledges the Auctioneer’s right to retain the premium payable by the purchaser.
21 - Withdrawn Lots
21.1 - If the Vendor cancels his instructions for sale at any time, EWB reserves the right to charge a fee of 20% of either EWB’s latest estimate of the auction price of the lot or the Reserve placed on the lot (if there is one), plus in either case VAT and expenses, with a minimum charge of £5 plus VAT.
21.2 - Upon withdrawal of the Lot/s, the Vendor shall arrange for the collection and removal of the same at his own expense on or before 2 working days after the date of withdrawal. If the Vendor fails to remove the lot within the specified time, he shall pay storage charges at the rate of £5 plus VAT per lot per day backdated to the date of withdrawal.
21.3 - Any legal fees, expert’s fees and any other expenses that EWB may incur investigating any claim concerning ownership of the Lot shall be borne by the Vendor, who shall reimburse to EWB all such fees and other expenses on a full indemnity basis.
22 - Rescission of Sale
22.1 - If the Buyer makes a claim to rescind the sale on the basis of condition 36.2 and in EWB’s opinion that claim is justified, or EWB decides to rescind the sale on the basis of condition 19.3, EWB may rescind the sale without further reference to the Vendor and refund to the Buyer any amount already paid in respect of the Lot.
22.2 - If the Vendor has received any monies in respect of the sale of a Lot and that sale is rescinded as mentioned in condition 22.1, EWB has the right to recover such monies from the Vendor.
23 - Unsold Lots
23.1 - If any Lot fails to sell at auction EWB will notify the Vendor who will either arrange for its removal from EWB the day following the auction or instruct EWB to re-offer the Lot for sale.
23.2 - If the Vendor fails to remove the Lot by the agreed time on the day following the auction, the Vendor shall pay to EWB the Storage Charges, as specified in conditions 8 & 10.
24 - Private Sales
If after 28 days of notification of any unsold Lot or withdrawn Lot, the Vendor has failed to collect the Lot, the Vendor hereby authorises EWB to sell that Lot by private treaty and to deduct from the sale price any sums owing to EWB, including but not limited to commission up to one half of the stated rates, and expenses.
25 - Post and Packaging
EWB are not shippers or packers, but will, if you are unable to arrange your own packing and couriers service, be happy to help. We will pack and post small items, at a small administration charge and send the parcel with The Royal Mail Special Delivery Service or DPD. EWB disclaim all responsibility for loss or damage to the goods - any claims in this regard must be taken up with Royal Mail or DPD. We are unable to package or post clocks or barometers using our in-house postage as we are unable to professionally secure the movement whilst it is in transit. We are unable to post guns due to strict legislation on sending firearms. Check individual requirements for posting weapons.
C - BUYER’S CONDITIONS
26 – Inspection
26.1 - Buyers and prospective Buyers are deemed to have satisfied themselves before bidding by inspection or otherwise as to (but not limited to) the physical condition (including defects) of the Lot and its description in the Catalogue. Buyers and prospective Buyers should note the provisions of General Conditions 2.4 and 2.5 in relation to descriptions of the Lot in the Catalogue.
26.2 - Condition reports. All condition reports given are statements of opinion only and subject to conditions 2.4 and 2.5.
27 - The Buyer
27.1 - Any dispute as to who the Buyer of any Lot is shall be settled by EWB.
27.2 - Every bidder at an auction run by EWB shall be deemed to act as principal unless prior to the start of the auction EWB has been given a written acknowledgment that a bidder is acting as agent for a named principal.
28 - Buyer’s Premium
The buyer shall pay the Hammer Price together with a premium of 19.5% of the Hammer Price plus VAT. This premium is payable by all buyers. The amount invoiced will be the premium plus VAT (where VAT is chargeable) but this VAT will not normally be recoverable by the buyer. Any lot purchased through the services of ATG Media www.the-saleroom.com will be subject to a further charge of 4.95% plus VAT of the hammer price in addition to the Buyer’s Premium plus VAT and www.easyliveauctions.co.uk will be subject to a further charge of 3.6% plus VAT. Any lot purchased through www.ewbauctions.com will be subject to a further charge of 3% plus VAT of the Hammer Price. The Buyer also acknowledges that EWB may receive commission from the Seller in accordance with Condition 17 hereof.
29 – VAT
Where VAT is payable by the Buyer on the Hammer Price this is indicated in the Catalogue by an asterix.
30 - Commission Bids
30.1 - EWB will, if so instructed, execute written bids up to a specified limit from prospective Buyers. The Buyer shall deliver any instructions regarding commission bids whether delivered by post, facsimile transmission, telephone or in person to the appropriate employee of EWB, being the Auctioneer or an employee authorised to accept such instructions. Neither EWB nor its employees or agents will be liable for any neglect, default or failure to act in connection with any commission bids or telephone bids.
30.2 - In the event that EWB has received commission bids on a Lot for identical amounts and at auction those commission bids are the highest bids for the Lot, subject to Condition 27.1 and to EWB’s ultimate discretion it shall be sold to the person whose commission bid was received first.
30.3 - Telephone bids can be arranged for items with a minimum estimate of £100 and are accepted at the Auctioneer’s discretion. No liability rests with EWB.
31 - Title and Risk
31.1 - Upon the acceptance of a bid (indicated by the fall of the hammer) by EWB.
31.2.1 - a contract of sale for the Lot in question is completed between the Buyer to which EWB is not a party and will not be liable for any breach thereof by either the Vendor or the Buyer.
31.2.2- the Lot will be at the sole risk of the Buyer who shall forthwith show his bidding registration card or give his full name and permanent address and if called upon to do so by the Auctioneer shall forthwith pay to EWB such proportion of the Purchase Price as the Auctioneer may require. Failure by the Buyer to do so may (at the Auctioneer’s sole discretion) lead to the Lot being put up again and re-sold.
31.3 - Legal title to the Lot will not pass to the Buyer until the Purchase Price has been paid (and all monies cleared) in accordance with Condition
32.3. EWB shall be entitled to a lien on any Lot sold until the Purchase Price has been paid in accordance with Condition 32.3.
32 – Payment
32.1 - A prospective Buyer must if practicable prior to an auction register to bid and must then give EWB his full name and permanent address and if requested by EWB banking or other suitable references and proof of identity.
32.2 - The Purchase Price must be paid to EWB no later than 5.30pm on the Friday of the week following the auction.
32.3 - Full payment for all Lots must be made to EWB by means of, cash, bank transfer or debit card in pounds sterling. We do not accept American Express OR credit card payments.
32.4 - Any payments by a Buyer to EWB may be applied by EWB towards or set off against any sums owing from that Buyer to EWB on any account whatever regardless of any directions of the Buyer or his agents whether express or implied.
33 - Removal of purchased Lots
33.1 - No Lot may be removed by the Buyer until the Purchase Price has been paid in full and the monies cleared in accordance with Condition 32.3.
33.2 - Subject to Condition 33.1, if the Buyer shall not remove (and arrange for transport/carriage) at his expense any Lot purchased by him by 5.30pm on the Friday of the week following the Sale, then the Buyer shall pay to EWB the Storage Charges.
34 - Responsibility for purchased Lots
34.1 - As the risk in respect of a Lot will pass to the Buyer from the fall of the hammer (as provided by Condition 22.1), the Buyer will be responsible for any loss or damage to the Lot from that time.
34.2 - The Buyer of a Lot being a “motor vehicle” is responsible for complying with the provisions of the Road Traffic Act 1988 and all relevant regulations made thereunder (including the Motor Vehicles Construction and Use Regulations 1986) and statutory modifications thereof and for ensuring that any necessary test certificate is in force.
34.3 - The Buyer shall be solely responsible for obtaining any export licence or any other certificate or authority (including but not limited to a firearm certificate) required in connection with a Lot. EWB will not deliver Lots (being firearms) to Buyers without production of evidence of compliance with all UK firearm regulations.
34.4 - The Purchaser of any Lot containing Dangerous Substances agrees to comply with all Environmental Laws and the terms and conditions of all environmental licences and approvals required by Environmental Law, which are applicable to Dangerous Substances.
35 - Non-Payment or failure to collect
If a Lot is not paid for in full and removed in accordance with Conditions 32 and 33, EWB as agents for the Vendor shall without further notice to the Buyer at its absolute discretion be entitled to exercise one or more of the following remedies (without prejudice to any other rights it may have):-
35.1 - issue legal proceedings against the Buyer for damages for breach of contract;
35.2 - Rescind the sale of the Lot and re-sell the Lot by auction, private treaty or any other means;
35.3 - charge the Buyer all the charges and expenses of the re-sale (including but not limited to) any commissions for the rescinded sale which remain unpaid and the deficiency (if any) between the Hammer Price of the resale and the Hammer Price of the rescinded sale;
35.4 - remove, store and insure the Lot at the expense of the Buyer;
35.5 - charge interest on the Purchase Price at a rate not exceeding 4% per month to the extent that it remains unpaid for more than 5 working days after the date of the auction;
35.6 - retain any Lot knocked down to the Buyer at the same time or any other auction until payment of a Purchase Price by the Buyer;
35.7 - exercise a lien on any other property of the Buyer in EWB’s possession for any purpose;
35.8 - rescind the sale of that Lot or any other Lot knocked down to the Buyer at the same or any other auction;
35.9 - reject or ignore any bids made by or on behalf of the defaulting Buyer at any future auctions or obtain a deposit before accepting any bids from the Buyer in the future.
36 - Liability of EWB and the Seller
36.1 - Neither the Vendor, EWB or its employees or agents is responsible for errors of description (made either orally or in any Catalogue) or for the genuineness or authenticity of any Lot. No warranty whatsoever is given by EWB, its employees or agents by any Vendor to any Buyer in respect of any Lot and any express or implied conditions and warranties are hereby excluded.
36.2 - Notwithstanding any other terms of these Conditions, if within two months after the sale EWB has received from the Buyer of any Lot notice in writing that in his view the Lot is a deliberate forgery and within one month after such notification the Buyer returns the same to EWB in the same condition as at the time of sale then the sale will be rescinded and any amount paid in respect of the Lot will be refunded. Provided that the Buyer shall have no right under this Condition if;-
36.2.1 - the Buyer is not able to satisfy EWB that the Lot is a deliberate forgery on the basis of written evidence from experts.
36.2.2 - the only method of establishing at the date of publication of the Catalogue that the Lot was a deliberate forgery was by means of scientific processes not generally accepted for use until after publication of the Catalogue or a process which was unreasonably expensive or impractical, or;
36.2.3 - the Buyer is not able to transfer a good and marketable title to the Lot free from any third party claims;
36.3 - Any claim by a Buyer under Condition 36.2 shall be limited to any amount paid in respect of the Lot and shall not extend to any consequential loss suffered by him as a result of the Lot being a deliberate forgery.
36.4 - The benefit of this Condition shall not be assignable and shall only extend to the Buyer, being the person to whom the original invoice was made out by EWB in respect of the Lot when sold and who has since the sale retained uninterrupted, unencumbered ownership of that Lot.
37 - Photographs and Illustrations
The Buyer gives EWB the absolute right to use its photographs and illustrations of Lots at any time at EWB’s absolute discretion (whether or not in connection with the auction).
38 - Client Money
EWB will hold any money belonging to the Seller or the Buyer in separately designated client accounts.
39 - Droit de Suite Royalty Charges
From 14th February 2006 all UK art market professionals (which includes, but is not limited to; auctioneers, dealers, galleries, agents and other intermediaries) are required to collect a royalty payment for all works of art that have been produced by living artists. This payment is only calculated on qualifying works of art which are sold for a hammer price more than the UK sterling equivalent of EURO 1,000 – the UK sterling equivalent will fluctuate in line with prevailing exchange rates.
It is entirely the responsibility of the Buyer to acquaint himself with the actual EURO to UK sterling exchange rate on the day of the sale in this regard. The actual qualifying threshold will be calculated by the Artist’s Resale Right Service Hub based on the European Central Bank reference rate published at 2.15pm on the day of sale and can be found on www.dacs.org.uk.
All items in this catalogue that are marked with ‘D’ are potentially qualifying items, and the royalty charge will be applied for if the hammer price achieved is more than the UK sterling equivalent of EURO 1,000. The royalty charge will be added to all relevant invoices and must be paid before items can be cleared. All royalty charges are paid to the Design and Artists Copyright Society (‘DACS’), no handling costs or additional fees with respect to these charges will be retained by the auctioneer.
The royalty charge that will be applied to qualifying items which achieve a hammer price of more than the UK sterling equivalent of EURO 1,000, but less than the UK sterling equivalent of EURO 50,000 is 4% payable by the buyer. For qualifying items that sell for more than the UK sterling equivalent of EURO 50,000 a sliding scale of royalty charges will apply – for a complete list of the royalty charges and threshold levels, please see www.dacs.org.uk. There is no VAT payable on this royalty charge.
For all question relating to the regulations regarding Droit de Suite royalty charges, please see www.dacs.org.uk, telephone +44 (0)845 410 3410, or email firstname.lastname@example.org.
40 - Money Laundering Regulations
In order to comply with Money Laundering Regulations, no cash payment will be accepted in excess of the day’s sterling equivalent of EURO 10,000.