14ct white gold and diamond pendant necklace with seven diamonds in a flowerhead setting, stamped

Standard Terms & Conditions
 
Franklin Browns Auctioneers & Valuers carries on business with bidders, buyers and all those present in the auction room prior to or in connection with a sale on the following General Conditions and on such other terms, conditions and notices as may be referred to herein.  In these terms of business Franklin Browns Auctioneers & Valuers Ltd is referred to as 'Franklin Browns'

1.   DEFINITIONS
In these Conditions:

1. "auctioneer" mean the firm of Franklin Browns Ltd or its authorised auctioneer, as appropriate;
2. "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 sale had a value materially less than it would have had if it had been in accordance with the description;
3. "hammer price" means the level of bidding reached (at or above any reserve) when the auctioneer brings down the hammer;
4. "terms of consignment" means the stipulated terms and rates of commission on which Franklin Browns accepts instructions from sellers or their agent;
5. "total amount due" means the hammer price in respect of the lot sold together with any premium, Value Added Tax chargeable and any other additional charges payable by a defaulting buyer under these Conditions;
6. "sale proceeds" means the net amount due to the seller, being the hammer price of the lot sold less commission at the stated rate, Value Added Tax chargeable and any other amounts due to us by the seller in whatever capacity and however arising;
7. "You", "Your", etc. refer to the buyer as identified in Condition 2.
8. The singular includes the plural and vice versa as appropriate.

2. BIDDING PROCEDURES AND THE BUYER

1. Bidders are required to register their particulars before bidding and to satisfy any security arrangements before entering the auction room to view or bid.
2. The maker of the highest bid accepted by the auctioneer conducting the sale shall be the buyer at the hammer price and any dispute about the bid, which must be raised before the next lot is offered, shall be settled at the auctioneer's absolute discretion.
3. Bidders shall be deemed to act as principals
4. Once made, no bid may be withdrawn
5. Our right to bid on behalf of the seller is expressly reserved up to the amount of any reserve and the right to refuse any bid is also reserved.

3.   INCREMENTS
Bidding increments shall be at the auctioneer's sole discretion.

4.   THE PURCHASE PRICE
The buyer shall pay the hammer price together with a premium thereon of 18% plus VAT on the premium at the rate imposed by law.  All lots bought through www.the-saleroom.com will attract an additional buyer's premium of 4.95% plus VAT.

5.   VALUE ADDED TAX
Value Added Tax on the hammer prices is imposed by law on all items affixed with an asterisk.  Value Added Tax is charged at the appropriate rate prevailing by law at the date of the sale and is payable by buyers of relevant lots.

6.   PAYMENT

1. Immediately a Lot is sold you will:
   1. Give to us, if requested, proof of identity.
   2. Pay to us the total amount due in cash or in such other way as is agreed by us. We accept cash, debit card, bank transfer (details available on request) and banker's draft in pounds sterling. Debit card payments  under £200 are acepted. We do not accept American Express, Diners Club or Credit Card.
2. Any payment by you to us may be applied by us towards any sums owing from you to us on any account whatever without regard to any directions of you or your agent, whether express or implied.

7.   TITLE & COLLECTION OF PURCHASES

1. The ownership of any Lots purchased shall not pass to you until you have made payment in full to us of the total amount due.
2. You shall at your own risk and expense take away any lots that you have purchased and paid for not later than three working days following the day of auction providing that all payments have cleared our account to include cheque or bank transfer payments, after which you shall be responsible for any removal, storage and insurance charges.
3. No purchase can be claimed or removed until it has been paid for.

8.   REMEDIES FOR NON PAYMENT OR FAILURE TO COLLECT PURCHASES
If any Lot is not paid for in full and taken away in accordance with these Conditions or if there is any other breach of these Conditions, we as agent for the seller shall at our absolute discretion and without prejudice to any other rights we may have, be entitled to exercise all or any of the following rights and remedies:

1. to proceed against you for damages for breach of contract;
2. to rescind the sale of the Lot and/or any other Lots sold by us to you;
3. to resell the Lot (by auction or private treaty) in which case you shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs). Any surplus so arising shall belong to the seller;
4. to remove, store and insure the Lot at your expense and, in the case of storage, either at our premises or elsewhere;
5. to charge interest at a rate not exceeding 1.5% above the current base rate per month on the total amount due to the extent it remains unpaid for more than five working days after the sale;
6. to retain that or any other Lot sold to you until you pay the total amount due;
7. reject or ignore bids from you or your agent at future auctions or to impose conditions before any such bids shall be accepted;
8. to apply any proceeds of sale or other Lots due or in future becoming due to you towards the settlement of the total amount due and to exercise a lien (that is a right to retain possession of) on any of your property in our possession for any purpose

9. THIRD PARTY LIABILITY
All members of the public on our premises are there at their own risk and must note the lay-out of the accommodation and security arrangements.  Accordingly neither the auctioneer nor our employees or agents shall incur liability for death or personal injury (except as required by law by reason of our negligence) or similarly for the safety of the property or persons visiting prior to or at a sale.

10.   COMMISSION BIDS
While prospective buyers are strongly advised to attend the auction and are always responsible for any decision to bid for a particular Lot and shall be assumed to have carefully inspected and satisfied themselves as to its condition, we will if so instructed clearly and in writing execute bids on their behalf.  Neither the auctioneer nor our employees or agents shall be responsible for any neglect or default in so doing or failing to do so.  Where two or more commission bids at the same level are recorded we reserve the right in our absolute discretion to prefer the first bid so made.  Please note that all lots bought through www.the-saleroom.com will attract an additional buyer's premium of 4.95% plus VAT.

11.   WARRANT OF TITLE & AVAILABILITY
The seller warrants to the auctioneer and to you that the seller is the true owner of the property consigned or is properly authorised by the true owner to consign it for sale and is able to transfer good and marketable title to the property free from encumbrance and any third party claims.

12.   AGENCY
The auctioneer normally acts as agent only and disclaims any responsibility for default by sellers or buyers.

13.   TERMS OF SALE
The seller acknowledges that Lots are sold subject to the stipulation of these Conditions in their entirety and on the Terms of Consignments as notified to the consignor at the time of the entry of the Lot.

14.   STANDARD VENDOR CHARGES

1. You will pay 15% of the hammer price of each lot which sells. Loss and Damage Warranty is 1.5% on value of lots sold and a £3.00 per lot lotting fee will be applied and this will include photography and marketing, etc.
2. Franklin Browns reserves the right to charge a Withdrawal Fee of up to 10% of the reserve or lower estimated selling price and to return any items to the Vendor at the Vendor's cost.
3. Please note that VAT is applicable at the current rate on all commission, premiums and charges

15.   DROIT de SUITE
(ARR) indicates works which may be subject to the Droit de Suite or Artist’s Resale Right, which took effect in the UK on 14th February 2006. In accordance with legislation we are required to collect a Royalty for all qualifying works of art. This legislation was updated in January 2012 to include living artists and artists who have died in the last seventy years. This Royalty will be charged to the Buyer on the hammer price and in addition to the buyer’s premium / commission rate. The Royalty rate only applies to works of art where the hammer price exceeds €1,000 (Euros). The rate is applied at 4% on works selling for €1,000 and up to €50,000. This means that if you purchase a lot which includes a work of art by a qualifying artist and it sells for over 1,000 Euros and below 50,000 Euros then you are required to pay the surcharge of 4% of the hammer price to The Design and Artists Copyright Society (DACS). Browns will detail this DACS payment on your invoice and the ARR will be paid across to DACS. A sliding scale applies to works of art selling for over 50,000 Euros. Royalties in their entirety are paid to the Design and Artists Copyright Society (DACS) and no handling fees or costs are retained by the Auctioneer. Resale Royalty payment is calculated on the rate of exchange at the European Central Bank on the date of the Sale. Royalties are not subject to VAT charges. If you have further queries then please contact the DACS helpline on 0845 410 3410 or alternatively email arr@dacs.org or visit www.dacs.org.uk

16.   DESCRIPTIONS & CONDITION

1. Whilst Franklin Browns makes every effort to describe lots accurately, it may be impractical for us to carry out exhaustive due diligence on each lot. Prospective buyers and any independent expert acting on the buyer's behalf are given ample opportunities to view and inspect before the sale and they must satisfy themselves as to the accuracy of any description applied to a lot. Prospective buyers also bid on the understanding that, inevitably, any representation or statement by us as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only. Subject to the foregoing neither the auctioneer nor its employees or agent nor the seller accept liability for the correctness of such opinions and all conditions and warranties, whether relating to description, condition or quality of Lots, express, implied or statutory are hereby excluded. This Condition is subject to the next following Condition concerning deliberate forgeries.
2. Private treaty sales made under these Conditions are deemed to be sales by auction for purpose of consumer legislation

17.   FORGERIES
Notwithstanding the proceeding Condition, any Lot which proves to be a deliberate forgery (as defined) may be returned to us by you within 14 days of the auction provided it is in the same condition as when bought, and is accompanied by particulars identifying it from the relevant catalogue description and a written statement of defects.  If we are satisfied from the evidence presented that the Lot is a deliberate forgery we shall refund the money paid for the Lot including any buyer's premium (but not the amount of any consequential loss, damages, expenses or interest) provided that (1) if the catalogue description reflected the accepted view of scholars and experts as at the date of the sale or (2) you personally are not able to transfer a good and marketable title to us, you shall have no rights under this condition.

18.   GENERAL
We shall have the right at our discretion to refuse admission to our premises or attendance at our auctions by any person.

19.
Any right to compensation for losses, liabilities and expenses incurred in respect of and as a result of any breach of these Conditions and any exclusions provided by them shall be available to the seller and/or the auctioneer as appropriate.

20.
Any indemnity or exclusion under these Conditions shall extend to all actions, costs, expenses, claims and demands whatsoever suffered or incurred by the person entitled to the benefit of it and the auctioneer declares itself to be a trustee of the benefit of every such clause so far as it is expressed to be for the benefit of its employees and agents.

21.
Any notice to the buyer, seller, bidder or viewer may be given by first class mail in which case it shall be deemed to have been received by the addressee 48 hours after posting.

22.
Special terms may be used in catalogue descriptions or particular classes of items in which case the description must be interpreted in accordance with any glossary appearing within the catalogue.

23.
Any indulgence extended to buyer or sellers by us notwithstanding the strict terms of these conditions or of the Terms of Consignment shall effect the position at the relevant time only and in respect of that particular concession only; in all other respects these conditions shall be construed as having full force and effect.

24.
Scottish law applies to the interpretation of these Conditions.


Franklin Browns Ltd reserves the right to amend these Conditions of Sale at any time and without prior written notice.