Midland Railway Signal Box 'Stick Telephone' as removed from Langham Junction and purchased from

G.W.RAILWAYANA AUCTIONS Ltd

25 JUBILEE DRIVE, BREDON, TEWKESBURY, GLOS GL20 7QJ Tel: 01684 773487 / 01386 760109

Website www.gwra.co.uk                            Email      master@gwra.co.uk   or   simon@gwra.co.uk

TERMS AND CONDITIONS

1. Definitions. In these Conditions G.W.Railwayana Auctions Ltd who act only as auctioneers and agent for the vendor, is called the ‘Company’, and the representative of the Company conducting the auction is called the ‘Auctioneer’.

2. General. Whilst the Company makes every effort to ensure the accuracy of their catalogue and the description of any lot:

(a) Each lot as set out in the catalogue or as divided or combined with any other lot or lots, is sold by the vendor with all faults, imperfections and errors of descriptions.

(b) The Company does not accept responsibility for the authenticity, attribution, condition or quality of any lot, unless they have been instructed in writing by the vendor so to certify, and in such case the Company does so as agent of the vendor to certify, and in such case the Company does so as agent of the vendor and is not itself responsible for such claims.

(c) All statements, whether printed in the catalogue or made orally, as to any of the matters set out in (b) above are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by the Company, unless they have been instructed in writing by the vendor so to certify, and in such case the Company does so as agent of the vendor and is not itself responsible for such claims.

Note: The Sale of Goods Act 1979 (as amended) does not apply to any lot.

(d) Any claim under any Statute must be received in writing by the Company within ten days of sale.

3. Third Party Liability. Every person on the company's premises at any time shall be deemed to be there at his or her own risk. He or she shall have no claim against the Company in respect of any accident that may occur or injury, damage or loss howsoever caused.

4. The Auction.

(a) The Auctioneer has absolute discretion to divide any lot, to combine any two or more lots or to withdraw any lot or lots from the sale, to refuse bids, regulate bidding or cancel the sale without in any case giving any reason or without previous notice. He may bid on behalf of the vendor for all goods which are being offered subject to reserve or at the Auctioneer's discretion.

(b) The highest bidder shall be the buyer. The auctioneer may, at his sole discretion, determine the advance of the bidding or refuse a bid. If during the auction the auctioneer considers that a dispute has arisen he has absolute discretion to settle the dispute or re-offer the lot. The auctioneers may only re-offer if a bidder contests a matter immediately, and before the offering of the next lot

(c) Each lot is put up for sale subject to any reserve price placed by the vendor.

(d) All conditions, notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statements modifying or affecting the same made by the Auctioneer from the rostrum prior to any bid being accepted for the lot.

(e) Persons handling lots do so at their own risk and shall make good any loss or damage however sustained: such estimate of cost to be assessed by the Auctioneers whose decision shall be final.

5. Rescission. Notwithstanding any other terms of these Conditions, if within seven days after the sale the Company has received from the buyer of any lot notice in writing that is in his view the lot is a deliberate forgery and within fourteen days after such notification the buyer returns the same to the Company in the same condition as at the time of sale and by producing evidence, the burden of proof to be upon the buyer, satisfies the company that considered in the light of the entry in the catalogue the lot is a deliberate forgery, then the sale of the lot will be rescinded and the purchase price of the same refunded.

6. Default. The company disclaims responsibility for the default by either the buyer or the vendor because it acts as agent for the vendor only and therefore does not pay out to the vendor until the payment is received from the buyer. Instructions given by telephone are accepted at the sender's risk and must be confirmed in writing forthwith.

7. Private Treaty. In the event of a sale by Private Treaty, both vendor and buyer agree to be bound by the General and any Special Conditions of the sale.

8. Instructions. As the Company is an auctioneer, all goods delivered to the Company's premises will be deemed to be delivered for sale by auction unless otherwise stated in writing and will be catalogued and sold at the Company's discretion and accepted by the Company subject to all the Sale Conditions. By delivering the goods to the Company for inclusion in their auction sales each vendor acknowledges that he or she has accepted and agreed to be bound by all these Conditions.

9. Collections. The Company will in certain circumstances undertake the collection of goods.

10. Loss or Damage. The Company disclaims all responsibility for loss or damage to goods or for unauthorised removal of goods unless caused by the direct negligence of its employees.

11. Storage. The Company reserves the right to store or arrange for the storage of goods delivered to it for sale either on its own premises or elsewhere at its own discretion. The Company exempts itself from any liability for loss or damage to goods delivered to its salerooms without sufficient sale instructions, unless the loss or damage is caused by negligence of its employees.

12. Right to Sell. If the vendor has been requested to remove unsold goods left on the premises, within twenty-one days of such request the Company reserves the right to sell the goods to defray costs and storage charges.

13. Insurance. Unless otherwise instructed in writing, all goods on the Company's premises and in its custody will be held insured against the risks of theft following forcible entry, but not against accidental breakage or damage for which insurance the Company will charge a premium of 1.5% +Vat if the vendor so instructs us.

14. Reserves.

(a) All goods are put up for sale WITHOUT RESERVE at the Auctioneer's discretion unless written instructions as to reserves are received by the Company no later than 14 days prior to the commencement of the sale.

(b) If bidding does not reach the stated reserve, then the item will be offered to the highest bidder at the reserve price, or, at our discretion, at a figure within 10% below the agreed reserve at the vendor's expense.

(c) In the event of any reserve price or 10% discretionary figure not being reached at auction, the Company is empowered to sell after the auction, by private treaty. It will be offered at the reserve price, or, at our discretion, at a figure within 10% below the agreed reserve price at vendor's expense, as long as the goods remain on the Company's premises. In the event of such a sale by private treaty the Conditions of Sale applicable to a buyer governing the auction will apply.

15. Indemnity. The vendor shall duly indemnify the Company against any claims in connection with any goods sold by the Company on the vendor's behalf.

16. Premium and Commission. The vendor authorises the Company to deduct commission and expenses at the stated rates from the hammer price and acknowledges the Company's right to retain any premium payable by the purchaser. There is a minimum charge of £10 + VAT per lot, sold or not sold, except in circumstances laid out in 19 below. Items below an estimate value of £60 will not carry a reserve. Vendor accounts settled within 28 days of the sale except in circumstances laid out in 22 (b) below.

17. Rights to Photographs and Illustrations. The vendor gives the Company full and absolute right to photograph and illustrate any lot placed in its hands for sale 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).

18. Cancellation by vendor. When a vendor cancels instructions for sale for any reason, the Company will charge a fee equal to 10% + Vat of the reserve prices or the low estimate if no reserve has been agreed, together with any expenses incurred in relation to the withdrawn property.

BUYER'S CONDITIONS

19. Inspection. Each buyer, by making a bid for a lot, acknowledges that he satisfied himself fully before bidding by inspection or otherwise as to all the Sale Conditions, the physical condition of and description of, the lot including but not restricted to whether the lot is damaged or has been repaired or restored.

20. Property and Risk. Legal title will not pass to the buyer until the lot(s) has been paid for in full and the Company shall be entitled to a lien on any sold until the purchase price is paid in full, but each lot is at the sole risk of the buyer from the fall of the hammer. Each buyer shall forthwith give his or her full name and permanent address.

21. Principal. Every bidder shall be deemed to act as principal unless it is agreed with the company that he acts as an agent on behalf of a named principal.

22. Removal of Goods.

(a) No purchase shall be claimed or removed until it has been paid for. All purchases shall be paid for and removed at the buyer's risk and expense. Sold lots transferred to the Companies storage facility are not insured and the company will not be held responsible if the same are lost, stolen, damaged or destroyed, and all lots not removed within two calendar months of the end of the sale will incur a warehousing charge of £1 + VAT per day should the storage fees total the selling price then the company will re-sell them by auction or privately without notice to the buyer.

(b) In the event of any failure of the buyers to comply with any of the above conditions the damages recoverable by the seller or the auctioneers from the defaulter shall include any loss arising on any re-sale of the lot, together with the charges and expenses in respect of both sales, and any money deposited in part payment shall be held by the Company on account of any liability of the defaulter to them or to the seller.

23 Payment. The Company is unable to accept payment from successful bidders other than Credit Card (carries a 3% charge) Debit Card, personal or Building Society cheque, Bank Transfer (£10 fee for overseas transactions) or in cash. Cheques drawn by third parties, whether in the Company's favour or requiring endorsement, will not and cannot be accepted. In accordance with Money Laundering Regulations, the company is not able to accept High Value Payments (HVP's). Therefore, there is a compulsory £8000 cash limit per auction invoice. There is no limit for cheque transactions, however, cheques in excess of recognised limits will only be accepted if supported by proof of identity and address, i.e.: a UK Driving Licence or Passport. Details from such must be clearly written on the back of any cheque. In all cases, cheques must be supported by a valid Bank Card. Buyers unknown to the company must arrange for suitable references or utilise Building Society cheques. Non compliance may delay the release of lots pending the clearance of cheques.

24. Commission Bidders. If paying by cheque, goods will not be released until cheque clearance. Payment is due within 7 days of the Sale. The Auctioneers do not provide postage, packing, delivery or shipping services on any lots. Successful buyers may collect lots in person, or, circumstances permitting and subject to size restrictions, collect from us, if pre-arranged, at certain major events. Both options carry a handling charge of £5 + VAT per invoice and £5 + VAT per invoice if delivered. The Auctioneers will not accept responsibility for any breakages whilst items are stored awaiting collection or whilst in transit.

25. Purchase Price. Each lot is subject to a Buyer's Premium of 10% + VAT. Any lot(s) purchased online through the ATG Media Live Auction facility will attract an additional charge for this service in the sum of 3% of the hammer price plus VAT at the current rate.

26. The UK Distance Selling Regulations (DSRS) does not apply to any item purchased at our auction.

27. The UK Sale Of Goods Act (1979) As Amended does not apply to any item purchased at our auction.

Registered Company No 6519877                                 VAT No 928151032