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STANDARD TERMS & CONDITIONS

1. A buyer’s premium of 20% (Plus V.A.T. @ 20%) of the hammer price is payable by the buyers of all lots.

2. Cheques to be made payable to ‘Knights Sporting Limited’.

3. Knights Sporting Ltd, Registered Office, The Thatched Gallery, The Green, Aldborough, Norwich, Norfolk. NR11 7AA

4. Postage and packing will be charged at current rates for all postal deliveries.

4a Postage and packing is subject to V.A.T. at 20%.

5. The seller warrants to the Auctioneer and to the buyer that he is the true owner or is properly authorised to sell the property by the true owner and is able to transfer good and marketable title to the property free from any third party claim.

6. The highest bidder to be the buyer. If during the auction the Auctioneer considers that a dispute has arisen he has absolute authority to settle it or re-offer the lot. The Auctioneer may at his sole discretion determine the advance of bidding or refuse a bid, divide any lot, combine any two or more lots or withdraw any lot without prior notice.

7. The buyer shall pay the price at which a lot is knocked down by the Auctioneer to the buyer (the hammer price) together with a premium of 20% (Plus V.A.T. @ 20%) of the hammer price, all of which are hereafter collectively referred to as ‘the total sum due’. By making any bid the buyer acknowledges that his attention has been drawn to the fact that on the sale of any lot the Auctioneer will receive from the seller commission at its usual rates in addition to the said premium of 20% (Plus V.A.T. @ 20%) and assents to the Auctioneer receiving the said commission.

8. The buyer shall forthwith upon the purchase give in his name and pay to the Auctioneer immediately after the conclusion of the auction the total sum due.

9. If the buyer fails to pay for or take away any lot or lots the Auctioneer as agent for the seller shall be entitled after consultation with the seller to exercise one or other of the following rights:

i) Rescind the sale of that or any other lots sold to the buyer who defaults and re-sell the lot or lots whereupon the defaulting buyer shall pay to the Auctioneer any shortfall between the proceeds of that sale after deduction of costs of re-sale and the total sum due. Any surplus shall belong to the seller.

ii) Proceed with damages for breach of contract.

10. Ownership of the lot purchased shall not pass to the buyer until he has paid to the Auctioneer the total sum due.

11. The seller shall be entitled to place a reserve on any lot and the Auctioneer shall have the right to bid on behalf of the seller for any lot on which a reserve has been placed. A seller may not bid on any lot on which a reserve has been placed.

12. As from January 2007, all unsold lots will attract a fee per lot of £3.00 + VAT.

12a. Where any lot fails to sell, the Auctioneer shall notify the seller accordingly. The seller shall make arrangements either to re-offer the lot for sale or to collect the lot.

13. Any representation or statement by the Auctioneer in any catalogue, brochure or advertisement of forthcoming sales as to authorship, attribution, genuineness, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only. Every person interested should exercise and rely on his own judgement as to such matters and neither the Auctioneer nor his servants or agents are responsible for the correctness of such opinions. No warranty whatsoever is given by the Auctioneer or the seller in respect of any lot and any express or implied warranties are hereby excluded.

14. Notwithstanding any other terms of these conditions, if within fourteen days of the sale the Auctioneer has received from the buyer of any lot notice in writing that in his view the lot is a deliberate forgery and within fourteen days after such notification the buyer returns the same to the Auctioneer in the same condition as at the time of the sale and satisfies the Auctioneer 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. ‘A deliberate forgery’ means a lot made with intent to deceive.

15. A buyer’s claim under the above condition shall be limited to the amount paid to the Auctioneer for the lot and for the purpose of this condition the buyer shall be the person to whom the original invoice was made out by the Auctioneer.

16. Lots may be removed during the sale after full settlement.

17. All goods delivered to the Auctioneer’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 Auctioneer’s discretion and accepted by the Auctioneer subject to all these conditions. By delivering the goods to the Auctioneer for inclusion in his auction sales each seller acknowledges that he/she accepts and agrees to all the conditions.

18. The Auctioneer shall remit the proceeds of the sale to the seller no later than forty days after the day of the auction provided that the Auctioneer has received the total sum due from the buyer. In all other cases the Auctioneer will remit the proceeds of sale to the seller within seven days of the receipt by the Auctioneer of the total sum due. The Auctioneer will not be deemed to have received the total sum due until after any cheque delivered by the buyer has been cleared. In the event of the Auctioneer exercising his right to rescind the sale his obligation to the seller hereunder lapses.

19. In the case of the seller withdrawing instructions to the Auctioneer to sell any lot or lots, the Auctioneer may charge a fee of the lot withdrawn and any expenses incurred in respect of the lot or lots.

20. Live telephone bidding

i) Live telephone bidding can be arranged (subject to paragraph 20iii) below) by contacting the Auctioneer two days prior to the day of the Auction.

ii) Knight’s have a mandatory minimum lot estimate of £80.00 on all live calls.

iii) The arrangement referred to in paragraph 20i) above will be at the buyer’s risk and no guarantee can be given by the Auctioneer that telephone facilities will be available or working on the day of the Auction.

21. These conditions shall be governed by and construed in accordance with English Law.

Online Bidding.

In completing the bidder registration on www.the-saleroom.com and providing your credit card details and unless alternative arrangements are agreed with Knights Sporting Limited Ltd you: authorise Knights Sporting Limited Ltd, if they so wish, to charge the credit card given in part or full payment, including all fees, for items successfully purchased in the auction via the-saleroom.com, and confirm that you are authorised to provide these credit card details to Knights Sporting Limited Ltd through www.the-saleroom.com and agree that Knights Sporting Limited Ltd are entitled to ship the goods to the card holder name and card holder address provided in fulfilment of the sale. Please note that any lots purchased via the-saleroom.com live auction service will be subject to an additional 4.95% commission charge + VAT at the rate imposed on the hammer price’