An 18ct gold ring, in the ancient Nordic style, size M, 8.36g.

CONDITIONS OF SALE FOR BUYERS

Buyers Premium: 21% + VAT 

1.             The Auctioneer acting as an Agent.

As auctioneers, we act as an agent on behalf of the vendor/seller. Unless otherwise agreed, sales of goods at our auctions result in contracts made by the vendor, through us as agents, with the buyer. We sell on behalf of the vendor whose identity, for reasons of confidentiality, is not disclosed without consent

2.             The Buyer.

(a)            Bidding is made using a paddle number. Prospective bidders must complete and sign a registration form, or an absentee bid form or telephone bid form should they be unable to attend the sale and provide identification if required before making a bid at auction. Any person who, nonetheless, makes a bid at a sale will be deemed to have accepted and agreed these Conditions, and the terms of any Notices and other conditions in the catalogue, whether or not they have delivered a completed Registration form.

(b)                 Items sold at auction have age, of varying degree, accordingly the condition is never perfect and lots are sold on an ‘as found’ basis, subject to all faults and imperfections which are not specified in the catalogue description. The catalogue description is for guidance only and does not imply an item is free from defects. Prospective buyers are strongly advised to inspect any goods in which they are interested in person to statisfy themselves of the condition of the lot before the auction takes place. Stamford Auction Rooms Ltd. do provide condition reports, but these are a personal opinion and only given as a guide to the buyer. We provide no guarantee to the buyer other than in relation to forgeries.

 (c)           The buyer shall be the highest bidder acceptable to the Auctioneer and the Auctioneer shall have absolute discretion to settle any dispute.

(d)           Stamford Auction Rooms Ltd reserve the right at their absolute discretion to refuse a prospective bidder or admission to their premises or attendance at their sales, without giving any reason therefore.

3.             Catalogue Descriptions.

(a)                  Stamford Auction Rooms Ltd takes great care when providing descriptions for lots in the sale, however, any statement as to authorship, attribution, origin, date, age, size, medium, weight, provenance, condition or estimated selling price is a statement of opinion of the seller or of Stamford Auction Rooms Ltd and is not to be taken as a statement or representation of fact.

(b)           The photographs of lots are for a guide to the buyer only, and should not be relied on to determine the tone or colour of any item or to reveal imperfections. Descriptions as to the condition of any lot, are not provided within the catalogues.

(c)                  Buyers are responsible for satisfying themselves concerning each and every aspect of the lot, including the condition, authorship, attribution, provenance, authenticity, age, suitability and origin, and matters referred to in the catalogue description prior to bidding at the auction.

4.             Absentee Bidding.

(a)                  Commission Bids.

(i)            Bidders unknown to Stamford Auction Rooms Ltd will be required to provide identification, e.g. photocard driving licence or passport. Without these details we may not accept the bid. Card details will be taken upon the buyer placing bids.

(ii)           If bids are successful, buyers accept that Stamford Auction Rooms Ltd will charge the card  provided for the total amount after seven working days of the sale should we not be advised by the buyer to pay by another card or alternate method of payment.

(iii)          Card details will be kept secure, in compliance with the Data Protection Act 1998, and will not be kept for any longer than is necessary.

(b)           If we receive commission bids on a particular lot for identical amounts, and at auction these are the highest bids for the lot, it will be sold to the person whose bid was received first. Prospective buyers should therefore always attend personally if they wish to be certain of bidding. Failure to sign the bid form may result in the bids not being processed.

(c)            All bids made by Stamford Auction Rooms Ltd on behalf of the prospective buyer will be made at the lowest level possible subject to reserves and other bids made for the lot.

                By Post: Absentee bidder forms can be posted to Stamford Auction Rooms Ltd on the forms provided and must be signed by the bidder. These will be subject to the same conditions as Absentee bids.

                Telephone Bids: If prospective buyers for a lot make arrangements with us not less than two clear days before the sale, we shall use reasonable efforts to contact the bidders to enable them to participate in the bidding by telephone as the sale takes place, but in no circumstances will we be liable to either the seller or any prospective buyer as the result of failure to do so. Stamford Auction Rooms Ltd. recommend that a covering absentee bid is also left in case of communication problems.

ONLINE BIDDING

                 Stamford Auction Rooms Ltd. offers an online bidding service via the-saleroom.com for bidders who cannot attend the sale.

                In completing the bidder registration on www.the-saleroom.com and providing your credit card details and unless alternative arrangements are agreed with ’Stamford Auction Rooms Ltd’ :

1.                 authorise ’Stamford Auction Rooms 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

2.                 confirm that you are authorised to provide these credit card details to ’ Stamford Auction Rooms Ltd’ through www.the-saleroom.com and agree that ‘Stamford Auction Rooms 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

5.             Conduct of the Sale and the Auctioneers discretion:

(a)            The auctioneer has the right to advance the bidding at his absolute discretion and reject any bid, divide any lot, combine any two or more lots, withdraw any lots from the sale, vary the order in which lots are offered for sale and, in the case of error or dispute, put a lot up for bidding again, without in any case giving previous notice or any reason therefore.

(b)           Subject to the auctioneer’s discretion, the fall of the hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the seller and the buyer.

6.             Responsibility for Purchased Lots:

(a)            At the fall of the hammer, risk in the lot sold shall pass to the buyer, and none to the seller, Stamford Auction Rooms Ltd., their servants or agents.

(b)           At the fall of the hammer the buyer shall be responsible for any loss, omission or damage whether caused by negligence or otherwise.

(c)            Ownership in the lot shall not pass to the buyer unless and until payment of the total amount owed has been received by Stamford Auction Rooms Ltd. A cheque given by the buyer in payment shall not be treated as a receipt until the same has been cleared.

(d)                 Any packing and handling of purchased lots by the Auctioneers staff is undertaken solely as a service to buyers and will only be undertaken at the buyer’s sole risk. The Auctioneers shall not be liable in any event for damage to ceramics, glass, mirrors or frames, irrespective of cause.

(e)                  Buyers are advised to obtain insurance in respect of a lot, and to arrange for collection, as soon as possible after the sale.

7.        Buyer’s Premium:

(a)                  In addition to the hammer price, a buyer’s premium of 21% + VAT of the hammer price, is payable by the buyer.

(b)                 Live Internet Bidding: additional buyer’s premium for lots purchased via www.the-saleroom.com.

All lots purchased online (live bidding) via www.the-saleroom.com will attract an additional charge for this service in the sum of 4.95% of the hammer price. By completing the bidder registration on www.the-saleroom.com and providing payment card details and unless alternative arrangements are agreed with Stamford Auction Rooms Ltd. the prospective bidder:

(i)            authorises Stamford Auction Rooms Ltd., if they so wish, to charge the payment card given in part or full payment, including all fees, for items successfully purchased in the sale via the-saleroom.com and

(ii)           confirms that they are authorised to provide these payment card details to Stamford Auction Rooms Ltd. through this site and agree that Stamford Auction Rooms Ltd. is entitled to ship the goods to the card holder name and cardholder address provided in fulfilment of the sale.

8.             Payment.

(a)            Upon sale of the lot the buyer shall pay the total amount due (comprising the hammer price, the buyer’s premium, any applicable value added tax and any other applicable charges) to Stamford Auction Rooms Ltd within seven working days following the conclusion of the sale.

(b)           Upon making such payment, and said payment having cleared, the buyer shall remove the lot purchased from the Stamford Auction Rooms Ltd. premises at his/her own expense within seven working days after the sale.

(c)            No lot purchased shall be removed while the sale is in progress unless at The Stamford Auction Rooms express discretion. Purchases will only be released when payments have cleared. Unless we specifically agree to the contrary, the Stamford Auction Rooms Ltd. shall retain items sold until all amounts due to us have been paid in full.

(e)            If the buyer fails to pay for any lot or lots bought by him/her, Stamford Auction Rooms Ltd may be offered again for resale.

(f)            All payments by bank transfer must be made in pounds sterling.

(g)           Credit cards are not accepted.

9.             Remedies for Non-payment or Failure to Collect Purchases.

(a)            All purchases must be paid for and collected within seven working days of the sale.

(b)           If no payment is received within seven days, the lot shall be re-entered on behalf of the buyer into the next suitable sale and shall be sold with no reserve. If this results in a lower price being obtained, the Stamford Auction Rooms Ltd shall claim the balance from the buyer together with any costs incurred in connection to the buyer’s failure to make payment.

(c)            If payment is not received within seven days, the Stamford Auction Rooms Ltd as agents for the seller shall also be entitled at its absolute discretion and without prejudice to any other rights or remedies:

(i)            to proceed against the buyer for damages for breach of contract;

(ii)           to rescind the sale of that or any other lots sold to the defaulting buyer at the same or any other auction;

(iii)          without notice to the defaulting buyer at any time to resell the lot or cause it to be resold by public auction or private sale and, if this results in a lower price being obtained, claim the balance from the Buyer together with any costs incurred in connection with the buyer’s failure to make payment;

(iv)          to remove, store and insure the lot at the expense of the defaulting buyer;

(v)           to charge interest at the rate of 2% above the Bank of England Base Rate per month on the total amount due to the extent it remains unpaid for more than five working days after the conclusion of the sale. Such interest will run as well as after as before judgement becoming due and payable forthwith upon demand;

(vi)          to retain that or any other lot sold to the same buyer at the same or any other auction and release it only after the payment of the total amount due;

(vii)         to 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 in future;

(viii)        to apply any proceeds of sale then due or at any time thereafter becoming due to the defaulting buyer towards settlement of the total amount due and to exercise a lien on any property of the defaulting buyer which is in The Stamford Auction Rooms possession for any purpose.

(d)           Storage Charges:

(i)            Any items not collected after seven working days following the sale, whether or not payment has been made, will be subject to a storage charge at the buyer’s expense of £1 per lot per day for small items and £15 per lot per day for larger items and furniture until collected by the buyer (up to a MAXIMUM of 14 days storage.) the Stamford Auction Rooms Ltd. will only release the items purchased after payment has been made in full of storage, removal, insurance and any other costs incurred, together with all other amounts due to us.

(ii)           If the items remain uncollected after 14 days, the lot(s) shall be re-entered on behalf of the buyer into the next suitable sale and shall be sold with no reserve. If this results in a lower price being obtained, the Stamford Auction Rooms Ltd. shall claim the balance from the buyer together with any costs incurred in connection to the buyer’s failure to make payment.

10.           Representations and Statements.

Neither the seller nor we, nor any of our employees or agents, are responsible for the correctness of any statement as to the authorship, origin, date, age, attribution, genuineness or provenance of any lot, nor for any other errors of description or for any faults in any lot. These are statements of opinion only and not fact. The Stamford Auction Rooms Ltd. are not liable for any omissions in the catalogue. Any warranty of any kind whatsoever is excluded by this clause. All lots are sold with all faults and imperfections and errors of description. Buyers should satisfy themselves as to the condition of any lot before bidding for it.

11.           Refund in the Case of Forgeries.

A sale will be cancelled and the amount paid refunded to the buyer if a lot sold by us proves to have been a forgery. We shall not however be obliged to refund any amounts if either (a) the catalogue description at the auction date corresponded to the generally accepted opinion of scholars or experts at that time, or fairly indicated that there was a conflict of opinions; or (b) it can be demonstrated that the lot is a Forgery only by means of either a scientific process not generally accepted for use until after the publication of the catalogue or a process which at the date of the auction was unreasonably expensive or impracticable or likely to have caused damage to the lot.

Furthermore, the Buyer should note that this refund can only be obtained if the following conditions are met;

(a)            within 28 days of the sale of the lot the buyer gives notice to Stamford Auction Rooms Ltd in writing that the lot purchased by him/her through the Stamford Auction Rooms Ltd. is a forgery (as herein defined);

(b)           the buyer returns the lot to the Stamford Auction Rooms Ltd. in the same condition as it was at the time of the auction accompanied by written proof of forgery, the number of the lot, and the date of the auction at which it was purchased; and

(c)            the buyer proves to the Stamford Auction Rooms ltd. reasonable satisfaction that the lot is a forgery and that he/she is able to transfer a good title thereto free from any liens, charges or encumbrances; and

(d)           the buyer demonstrates to the Stamford Auction Rooms Ltd reasonable satisfaction that the lot alleged by him to be a forgery is the lot actually purchased by him/her through the Stamford Auction Rooms Ltd.

In no circumstances shall we be required to pay the buyer any more than the amount paid by him/her for the lot concerned and the buyer shall have no claim for interest. The benefit of this condition is not capable of being transferred, and is solely for the benefit of the person to whom the original invoice was made out by us in respect of the lot when sold and who, since the sale, has remained owner of the lot without disposing of any interest in it to any third party. The Stamford Auction Rooms Ltd. shall be entitled to rely on any scientific or other process to establish that the lot is not a Forgery, whether or not such a process was used or in use at the date of the auction.

12.           Refunds.

The Stamford Auction Rooms Ltd. agree to refund the hammer price and the buyer’s premium to the buyer on the buyer claiming that the seller did not have the right to sell subject to the following conditions;

the buyer was acting in good faith; and

(a)            The Stamford Auction Rooms Ltd. insurers agree to the payment under the terms of the Stamford Auction Rooms Ltd. insurance; and

(b)           The buyer makes claim in writing against the Stamford Auction Rooms Ltd within 1 year of the sale and either;

(i)            The Stamford Auction Rooms Ltd has been prevented from giving possession of the lot to the buyer or the buyer has given up possession of the lot in either case by virtue of a Court Order (including Interlocutory Order) of a court of England and Wales made at the instance of any third party claiming to be the true owner; or

(ii)           the buyer has given up possession of the lot to the police in connection with any investigation into the theft of the lot; and

(iii)          if the Stamford Auction Rooms Ltd. refund the hammer price under this clause then should it transpire the buyer obtained title at auction, title vests in the Stamford Auction Rooms Ltd.

Any claim by a buyer against the Stamford Auction Rooms Ltd whether under any of these conditions or otherwise arising out of the sale of any lot shall be limited to the amount (if any) paid by the buyer in respect of such lot and shall not extend to any consequential or other loss or damage or expense suffered by the buyer.

13.           Estimates.

The Stamford Auction Rooms Ltd. makes no representations or warranties as to the anticipated selling price of any item or property. No estimates anywhere made by the Stamford Auction Rooms Ltd, its servants or agents, whether in writing or orally, may be relied upon as a prediction of the actual selling price. Estimates in catalogues, receipts and elsewhere are subject to revision by the Stamford Auction Rooms Ltd. from time to time in the exercise of its sole discretion.

14.           Electrical and Mechanical Goods.

Lots which were originally operated by mains electricity may not comply with the current statutory requirements and as such are offered for sale solely for display or historical purposes. Buyers should not assume that they are suitable for connection to the mains supply. The buyer acknowledges that the Stamford Auction Rooms Ltd has not tested electrical or mechanical goods and that the buyer is solely responsible for ensuring that such goods are tested by a qualified electrician before using them. 

15.           Export / Trade Restrictions.

It is the buyer’s responsibility to ensure that they comply with all export regulations relating to purchases. The Stamford Auction Rooms Ltd retains the right to refuse to sell an item should it fall into a restricted category, or may advise a seller to obtain a CITES certificate prior to sale.

16. The Artist's Resale Right regulations 2006 - Droit de Suite: Fully implemented as of 1^st January 2012.

It is our policy to charge the buyer an additional premium to cover our expenses relating to the payment of royalties under the Artists Resale Right Regulations 2006. Please note that from 1 January 2012, the Artist's Resale Right will be fully implemented in the UK. The full implementation will mean that a resale royalty will be due for works by deceased artists who are still in copyright. 

(i)                   Some works sold by the Stamford Auction Rooms Ltd. will be subject to Droit de Suite (Resale Royalty). This is a royalty payable to a qualifying artist each time a work is re-sold during the artist's lifetime or to the artist’s estate or beneficiaries if sold within 70 years of the artist’s death. It only applies to work by artists who are nationals of certain countries including the Russian Federation, and EU and EEA members (but not Ukraine) (a full list can be found on the DACS website www.dacs.org.uk )

(ii)           Buyers will be charged an amount equal to this resale royalty where it applies. For eligible lots which sell for a hammer price (together with buyer’s premium but excluding any VAT) of 1,000 Euros or greater, the additional premium will be payable to us by the buyer to cover our expenses relating to the payment of royalties under the Artists Resale Right Regulations 2006. The additional premium will be a percentage of the amount of the hammer price (plus buyer’s premium) calculated in accordance with the table below, and shall not exceed 12,500 Euros.

(iii)                These resale royalties are not subject to VAT and do not apply when the hammer price is less than 1,000 Euros. Invoices are normally issued in Pounds Sterling, with the resale royalty calculated on the basis of the European Central Bank reference rate on the date of the sale.

(iv)                Droit de Suite Scale - Charge Portion of the Hammer Price (in Euros)

                Up to 50,000                                           4%

                50,000.01 - 200,000                                3%

                200,000.01 - 350,000                              1%

                350,000.01 - 500,000                              0.5%

                Exceeding 500,000                  0.25%

                To a maximum of €12,500

17:           Data Protection.

For the purposes of the Data Protection Act 1998 the data controller is the Stamford Auction Rooms Ltd, Company Number 10747914 The Saleroom, Unit 3 Station Road Ind. Estate, Little Bytham, Nr Stamford, NG33 4QR. The Stamford Auction Rooms Ltd. will not disclose clients’ personal data to any third party outside our group for the purposes of direct marketing.

CONDITIONS OF SALE FOR SELLERS/VENDORS

1.             Seller’s Warranties.

The seller warrants to the Stamford Auction Rooms Ltd and to the buyer that, at all relevant times hereunder, including without limitation the time of sale that;

(a)           The seller is the true owner of the property, or is properly authorised to sell the property by the true owner and is able to and shall in accordance with these conditions transfer possession and good and marketable title to the property free from any third party claims (including without limitation any claims of governments or governmental agencies with respect to the property), liens or encumbrances;

(b)          The seller has provided the Stamford Auction Rooms Ltd with all information the seller has concerning the provenance of the property and the seller agrees that the statements in the catalogue description are, to the best of their knowledge, correct.

(c)           Unless the seller advises the Stamford Auction Rooms Ltd. in writing to the contrary at the time the property is delivered to the Stamford Auction Rooms Ltd, that there are no restrictions, copyright or otherwise, relating to the property or on the Stamford Auction Rooms Ltd. rights to reproduce photographs of the property and the seller gives The Stamford Auction Rooms full and absolute rights to photograph and illustrate any lot consigned to a the Stamford Auction Rooms Ltd. sale. The auctioneer retains copyright in all photographs taken and illustrations made by the Stamford Auction Rooms Ltd.

(f)           Unless the seller advises The Stamford Auction Rooms in writing to the contrary at the time the property is delivered to the Stamford Auction Rooms Ltd the property has been properly and legally imported into the European Union and all taxes or duties on importation into the European Union have been paid.

2.                    Seller’s Commission, Minimum Fees and Lotting Fees.

(a)                  Lotting fee of £8.50 per lot plus 15% (+VAT) of the hammer price.

These charges will be deducted after the sale, and indicated on the seller’s post-sale statement. The seller acknowledges that the Stamford Auction Rooms Ltd will receive from the buyer commission at their usual rates, on the sale of any lot, in addition to the said premium, and assents to the Stamford Auction Rooms Ltd receiving the said commission.

3.             Entering Items for Sale / Descriptions.

(a)           Where a representative for the auctioneers has viewed an item in person, we will issue a written receipt briefly describing the item(s), and suggest whether a reserve is appropriate for the item(s).

(b)                 It is the duty of the seller to provide accurate information as to the provenance etc. of goods where this is relevant. There is strict liability for the accuracy of descriptions under modern consumer legislation and in some circumstances responsibility lies with sellers if inaccuracies occur.

(c)                  Sellers are required to sign and date a copy of the entry form and agree to our terms and conditions. When entering items for sale the seller agrees that the description of the items on the receipt is to their satisfaction, sufficient to identify the lot and, to the best of their knowledge, a true representation of the item(s) left in the Stamford Auction Rooms Ltd. possession. It is the responsibility of the seller to inform the Stamford Auction Rooms Ltd. of any omissions, errors or inaccuracies on the entry form. We will assume that you have approved the catalogue description of your lots unless informed to the contrary.

(d)                 Where we are obliged to return the price to the buyer when the lot is a deliberate forgery under Condition 12 of the ‘Conditions of Sale concerning buyers’ and we have accounted to you for the proceeds of sale you agree to reimburse us the sale proceeds.

(e)      We do not charge for the photography of items. The copyright in respect of all photographs shall be the property of us, the auctioneer, as is the text of the catalogue.

(f)         Any lot unsold at the time of the auction may be sold either by way of a ‘Timed Auction’ via the-saleroom.com, or post sale by agreement with the Auctioneer up to 14 days post sale.

(g) Any lots will be re-offered with a 50% reduced reserve.

1. 4.        Reserves.

Vendors are entitled to place a reserve prior to the auction a reserve on any lot consigned, being the minimum hammer price at which that lot may be sold. Reserves must be reasonable and we may decline to offer goods which in our opinion would be subject to an unreasonably high reserve. A reserve once set cannot be changed except with our consent. Goods offered subject to a reserve will be agreed between us before the sale. We may sell lots below the reserve provided we account to you for the same sale proceeds as you would have received had the reserve been the hammer price. If you specifically give us “discretion” we may accept a bid of up to 10% below the formal reserve.

Items entered into a sale may be consigned without estimates or reserves. Where no reserve is listed, the Stamford Auction Rooms Ltd. may sell the item / lot at any price. Estimates are not reserves. Estimates are given as a guide to buyers. Unreserved items may sell at a fraction of an estimate if no reserve has been agreed. A reserve once set cannot be changed except with the Stamford Auction Rooms Ltd. consent.

5.             Items Posted or Delivered to the Stamford Auction Rooms Ltd.

Where a representative from the Stamford Auction Rooms Ltd. has not previously viewed the items in person and issued a hand written receipt / entry form for the items;

(a)                  All items are sent at the seller’s sole risk.

(b)                 It shall be assumed that these items are to be sold with no reserve until such time as the Stamford Auction Rooms Ltd. has had the opportunity to examine the items to their satisfaction.

(i)                   if, after examining the items, the Auctioneers believe they are suitable for entry into a sale, the auctioneers will issue a written receipt for the items, and agree in writing a reserve figure (if any) with the seller.

(ii)                 if the Auctioneers believe that any item is unsuitable for entry into auction, condition 10 (Unsaleable Goods, below) will be applied.

 (d)         If the reserve price is not acceptable to the seller, the seller must contact the Auctioneers and arrange for the item(s) to be returned, at the seller’s sole expense. 

(e)           The auctioneers will return exactly and only those items as were received by them from the seller, in the same condition as were received.

(f)           It is the responsibility of the seller to fully insure the items for whatever value they deem acceptable whilst in transit and to pay the cost of any transportation. This also applies if a lot is unsold and the Stamford Auction Rooms Ltd. agree to return the item to the seller. The amount the item is insured for, however, will in no way be taken as a true valuation of the item by the auctioneers – see clause 6 below.

(g)          Proof of the auctioneer’s receipt of a posted package or consignment is not to be taken as proof of the auctioneer’s acceptance, receipt or possession of an item. The auctioneers will only accept receipt or possession of an item or items as are listed by them on the entry form sent to the seller.

8.                                                                          Risk of Loss or Damage.

(a)           Loss and Damage Warranty. The Stamford Auction Rooms Ltd. for its own protection assumes liability for property consigned to it at the value of the goods. Unless otherwise instructed in writing, all goods on our premises and in our custody will be held insured against risk of fire, theft following forcible entry and water damage, and accidental breakage or damage, (but not against damage caused by humidity or temperature changes, inherent conditions or defects, error in processing, war, nuclear radiation or radioactive contamination).

(b)           The value of the goods shall be the gross amount realised, (hammer price, if the lot has been sold), or in the case of unsold lots the reserve placed on an item, (where no reserve has been placed on an item the value of the goods shall be deemed as being a nominal value of £1 sterling.) In the case of lots withdrawn prior to a sale the value shall be that of the reserve placed on any lot (agreed in writing on the entry form, or that which the Stamford Auction Room Ltd. specialised staff shall in their absolute discretion estimate to be the auction value of such goods).

(c)            The seller authorises the Stamford Auction Rooms Ltd. to assume the risk of loss or damage to the property from the time of The Stamford Auction Rooms receipt of such property until risk of loss or damage to the property passes on to the buyer as set forth in condition (4) (b) of the buyer’s conditions, until the item is collected by the seller, or until sixty days after the auction, whichever is earlier,unless, at the time the seller delivers the property to the Stamford Auction Rooms Ltd. the seller instructs The Stamford Auction Rooms in writing not to assume risk of loss or damage for any lot and within 10 days provides the Stamford Auction Rooms Ltd. with a certificate of insurance and waiver of subrogation by the seller’s insurer of all rights and claims that they may have against the Stamford Auction Rooms Ltd. in connection with any loss or damage to the property in both cases in a form acceptable to the Stamford Auction Rooms Ltd.

(d)           The Stamford Auction Rooms Ltd. shall not be responsible for damage to or the loss, theft or destruction of any goods not so insured upon the owner’s instructions.

(e)            In respect of any article delivered to us if the vendor has in force a policy or policies of insurance in which an item is specifically mentioned as being insured, whether or not for any agreed sum or value, the vendor shall notify his insurers of and shall himself note our interest as bailee in such policy or policies.

6.                   Unsaleable Goods.

(a)                  All goods delivered to their premises or collected on the Stamford Auction Rooms Ltd. behalf, will be considered as for entry for sale at auction, unless otherwise instructed by accompanying or previously received written notice. Items that, in the Stamford Auction Rooms Ltd. opinion, have no saleable value may be disposed of at the Auctioneers’ sole discretion either to a charity or by consignment for destruction. It shall be assumed that the seller agrees to such disposal, and that no prior notice of such disposal will necessarily be given. The Stamford Auction Rooms Ltd. reserve the right to charge the seller for costs incurred for the disposal of such items. Where in our opinion an item is unsaleable you must collect such items from the saleroom promptly on being so informed. Otherwise, storage charges will be incurred as per above.

(c)      If any item(s) is un-saleable by virtue of failing to attract a bid we will have absolute discretion to dispose of that item and charge for the service.

7.             Lots

(a)           The Stamford Auction Rooms Ltd. has sole and absolute discretion regarding the grouping of property into lots, providing catalogue and other descriptions, the date of the auction(s) and the manner of conducting each sale. 

(b)          Where lots with reserves have been combined or divided, the auctioneers shall combine or divide the lots in such a way that should all the lots sell at their agreed reserve price, the seller would receive no less than the full amount of the original combined reserve agreed (less any applicable commission, charges and VAT).

(d)     The seller authorises the Stamford Auction Rooms Ltd. to undertake any tests, researches or enquiries or to consult and rely on any outside experts, consultants or restorers in relation to the property as the Stamford Auction Rooms Ltd. may, at their absolute discretion, deem appropriate.

1. Electrical Items: These are subject to detailed statutory safety controls. Where such items are accepted for sale you accept responsibility for the cost of testing by external contractors. We reserve the right to dispose of unsafe goods as refuse, at your expense and without prior permission or further reference to the vendor.

1. Soft Furnishings:The sale of soft furnishings is strictly regulated by statute law in the interests of fire safety. Goods found to infringe safety regulations will not be offered and must be removed at your expense.

10.           Unsold Lots & Storage Fees:

(a)            If a reserved item is unsold in the first sale it will be automatically re-offered for a second sale and the reserve price reduced.

(b)           If the seller does not wish to enter items into a second sale, the seller must inform the Stamford Auction Rooms Ltd a week following the sale and must collect the item (s) within this time. Storage charges of £1 per lot per day for small items and £15 per lot per day for larger items and furniture will be charged from the 28th working day following the last sale in which the lot(s) were entered if items remain uncollected.

 (d)         If the seller fails to make arrangements for resale or collection within 28 working days following the items’ sale, the auctioneers shall charge the seller storage fees of £1 per lot per day for small items and £15 per lot per day for larger items and furniture until collected and shall have the right to:

(i)            Remove the lot to an independent storage facility, for which the seller shall assume all risks and responsibilities; or

(iii)                To re-offer the property at public auction and to deduct from the hammer price any sum owing to the Stamford Auction Rooms Ltd. including without limitation, removal, storage and insurance expenses, the expenses of both auctions and all other reasonable expenses before remitting any excess to the seller or, if the seller cannot be traced, placing it in a bank account in the name of the Stamford Auction Rooms Ltd. for the seller.

11.           Withdrawn Lots.

(a)                  A minimum charge of £10 per withdrawn lot will be payable by the seller. The seller must inform the Stamford Auction Rooms Ltd. of their decision to withdraw in writing prior to the sale date. Instructions regarding lots will only be accepted from the person named as seller on the receipt / entry form.

(b)                 The Stamford Auction Rooms Ltd. may withdraw lots from the sale without any liability to the seller if the Stamford Auction Rooms Ltd believes that

(i)                   there is doubt as to its authenticity or attribution,

(ii)                 any of the seller’s representatives or warranties are inaccurate in any way, or

(iii)                the seller breaches any provisions of the conditions of sale.

12.           Payments & Settlement Date.

(a)           After the sale, the Stamford Auction Rooms Ltd will post a statement to the seller informing them whether lots were sold or unsold. The seller will be paid out within 6 weeks following the sale buy either cheque or BACS transfer, unless the amount is under £30 net, which will then be paid out in cash.

(b) The seller authorises any sums owed to the Stamford Auction Rooms Ltd. on other transactions to be deducted from the sale proceeds.

13.           Obligation Regarding Lots Sold.

If the buyer fails to pay the Stamford Auction Rooms Ltd the total amount due on or by the settlement date the seller authorises the Stamford Auction Rooms Ltd. at the seller’s expense to pursue any one or more of the following courses;

(a)           to agree special terms for payment of the total amount due,

(b)          to remove, store and insure the lot sold,

(c)           to settle claims made by or against the buyer on such terms as the Stamford Auction Rooms Ltd shall decide at their absolute discretion

(d)          to take such steps as are necessary to recover the monies due by the buyer to the seller and, if necessary, to rescind the sale and refund the money to the buyer.

Without being under any obligation to do so, the Stamford Auction Rooms Ltd. shall endeavour to notify the seller of the buyer’s failure to pay prior to exercising its authority as granted in the preceding sentence. The Stamford Auction Rooms Ltd. has no obligation to collect payment from the buyer, nor to undertake legal proceedings. The seller authorises the Stamford Auction Rooms Ltd.to retain any handling, removal, storage, insurance and interest fees collected from the buyer or defaulting buyer.

If the buyer fails to pay the total amount due and the Stamford Auction Rooms Ltd. remits an amount equal to the net sale proceeds to the seller, ownership of such lot shall pass to the Stamford Auction Rooms Ltd, which shall have the benefits of the sellers agreements, representations, warranties and indemnities set forth in these conditions.

The Stamford Auction Rooms Ltd. are under no obligation to disclose the identity of either buyer or seller of any lot.

14.           Estimates.

The Stamford Auction Rooms Ltd. makes no representations or warranties as to the anticipated selling price of any item or property. No estimates anywhere made by the Stamford Auction Rooms Ltd., its servants or agents, whether in writing or orally, may be relied upon as a prediction of the actual selling price. Estimates in catalogues, receipts and elsewhere are subject to revision by the Stamford Auction Rooms Ltd. from time to time in the exercise of its sole discretion.

1. 15.     Clients Money. 

You are advised that all clients’ money is held in the following account:

Stamford Auction Rooms Ltd Vendors Account

HSBC bank
Stamford Auction Rooms Ltd.

Sort code: 40-43-05

Account number: 11556541

IBAN: GB39HBUK40430511556541

BIC: HBUKGB4B

16.           Severability.

If any part of these Conditions of Sale is found by any court to be invalid, illegal or unenforceable, that part may be discounted and the rest of the conditions shall continue to be valid and enforceable.

17.           Law and Jurisdiction.

These Conditions of Sale are subject to English Law, which shall apply to their construction as well as to their effect. For our benefit, the buyer and the seller submit to the exclusive jurisdiction of the English courts.

The above Conditions and all 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.

Definitions / Glossary

1. In our Terms and Conditions:
   
   The following expressions have specific legal meanings with which you may not be familiar. The following glossary is intended to give you an understanding of those expressions but is not intended to limit their legal meanings:
2. “Stamford Auction Rooms Ltd” means the Stamford Auction Rooms Ltd, the auctioneers of Unit 7A Meadow View Industrial Estate, Uffington Road, Stamford, PE9 2EX. Company Number 10747914
3. “Auctioneer”: the representative of The Stamford Auction Rooms conducting the sale.
4. “the bidder”: the person bidding at the sale, or in the case of a bid made by and employee or other representative of the Stamford Auction Rooms Ltd. pursuant to a commission bid or telephone bid form, the person whose details have been given on the commission bid form or telephone bid form.
5. “the hammer price” means the amount of the highest bid accepted by the auctioneer, and knocked down to the buyer.
6. “the purchase price” is the aggregate of the hammer price plus the premium and the any expenses payable to the Stamford Auction Rooms Ltd.
7. “the buyer”: means the person with the highest bid accepted by the auctioneer.
8. “the lot” means any item deposited with us for sale at auction and, in particular, the item or items described against any lot number in any catalogue.
9. “reserve”: the minimum hammer price as agreed between Stamford Auction Rooms Ltd and the seller in accordance with the seller’s agreement with the Stamford Auction Rooms Ltd. at which a lot may be sold.
10. “the buyer’s premium” means the charge payable by the buyer as a percentage of the hammer price, at the rate set out under condition (4).
11. “the total amount due” means the aggregate of the hammer price, the premium, any VAT chargeable on the hammer price and the premium, together with any additional charges and expenses from a defaulting buyer under condition (5).
12. “Forgery” means a lot constituting a modern deliberate imitation originally conceived and executed as a whole in, or after, 1870 with a fraudulent intention to deceive as to authorship, origin, age, period, culture or source where the correct description to such matters is not reflected by the description in the catalogue and which at the date of the auction had a value materially less than it would have had if it had been in accordance with the description in the catalogue. Accordingly, no lot shall be capable of being a forgery by reason of any damage and/or restoration work of any kind (including repainting).
13. “Description": any statement or representation in any way descriptive of the Lot, including any statement or representation relating to its authorship, attribution, condition, provenance, authenticity, style, period, age, suitability, quality, origin, value, estimated selling price (including the Hammer Price). 
    "Entry": a written statement in the catalogue identifying the Lot and its Lot number which may contain a description and illustration(s) relating to the Lot. 
    "Estimate": a statement of our opinion of the range within which the hammer is likely to fall.
14. “the seller” means the owner or authorised agent thereof or person in possession of the property consigned. If there are multiple owners or an agent or possessor, each shall assume all obligations, liabilities, representations, warranties and indemnities on behalf of the seller set forth in these Conditions of business. Instructions regarding lots will only be accepted from the seller, which in this instance shall be taken as the person named on the receipt / entry form to whom any monies are to be paid.
15. “seller’s premium / seller’s commission” means the commission payable to the Stamford Auction Rooms Ltd. by a seller at the published rates from time to time applicable to the relevant sale..
16. “settlement date” means a date thirty five days after the last session of each auction.
17. “net sale proceeds” means the hammer price of the lot sold received by the Stamford Auction Rooms Ltd. in cash or cleared funds, less seller’s premium and expenses and any other amounts due to the Stamford Auction Rooms Ltd. by the seller in whatever capacity and howsoever arising.
18. "artist's resale right": the right of the creator of a work of art to receive a payment on Sales of that work subsequent to the original Sale of that work by the creator of it as set out in the Artists Resale Right Regulations 2006 and fully implemented as of 1^st January 2012.
19. "bailee": a person to whom goods are entrusted. 
    "indemnity": an obligation to put the person who has the benefit of the indemnity in the same position in which he would have been, had the circumstances giving rise to the indemnity not arisen and the expression "indemnify" is construed accordingly. 
    "interpleader proceedings": proceedings in the Courts to determine ownership or rights over a Lot. 
    "knocked down": when a Lot is sold to a Bidder, indicated by the fall of the hammer at the Sale. 
    "lien": a right for the person who has possession of the Lot to retain possession of it. 
    "risk": the possibility that a Lot may be lost, damaged, destroyed, stolen, or deteriorate in condition or value. 
    "title": the legal and equitable right to the ownership of a Lot. 
    "tort": a legal wrong done to someone to whom the wrong doer has a duty of care