2000 London Underground quad-royal POSTER MAP 'London Connections' showing the Underground, Tramlink

TRANSPORT AUCTIONS OF LONDON LTD

TERMS AND CONDITIONS OF SALES

Transport Auctions of London Ltd is hereinafter referred to as the Auctioneer and includes any person acting upon the Auctioneer's authority.

1. General Conditions of Sale

a. All persons on the premises of, or at a venue hired or borrowed by, the Auctioneer are there at their own risk.

b. Such persons shall have no claim against the Auctioneer in respect of any accident, injury or damage howsoever caused nor in respect of cancellation or postponement of the sale.

c. The Auctioneer reserves the right of admission which will be by registration at the front desk.

d. For security reasons, bags are not allowed in the viewing area and must be left at the front desk or cloakroom.

e. Persons handling lots do so at their own risk and shall make good all loss or damage howsoever sustained, such estimate of cost to be assessed by the Auctioneer whose decision shall be final.

2. Catalogue

a. The Auctioneer acts as agent only and shall not be responsible for any default on the part of a vendor or buyer.

b. Lots are sold as seen and The Consumer Rights Act (2015) and The Consumer Contracts Regulations (2013) do not apply.

c. All descriptions of auction lots, including the condition and estimated value of items, whether printed or oral, are given in good faith and are statements of opinion not fact. Any comments on any lots must be made to the Auctioneer at least 24 hours before the start of the auction.

d. Lots are sold with all imperfections and/or faults and neither the Auctioneer nor the vendor is responsible for any defects whatsoever.

e. No warranty is given or implied by the Auctioneer or the vendor with regard to any lot other than that the Seller has the right to sell it and any express or implied conditions or warranties whether relating to condition or quality are hereby excluded.

f. Intending purchasers should satisfy themselves as to the condition, age, provenance etc of all pieces and lots before they bid.

3. Conditions of Sale - vendors

a. A commission charge of 15.0% of the hammer price or £5 (VAT not applicable), whichever is the greater, will be deducted from the selling prices and the vendor authorises the Auctioneer to deduct all monies due to the Auctioneer from the auction proceeds.

b.Reserve prices may be placed by the vendor on lots of £50 or over.  Unless otherwise instructed by the vendor, the Auctioneer may use discretion to sell a lot at up to 10% below reserve.  If a lot does not sell, an administration charge of 10% of the reserve or £5, whichever is the greater, will be incurred.

c. Where a lot is entered without a reserve, the lot will be sold to the highest bidder. If a lot without a reserve does not sell, an administration charge of £5 will be incurred.

d. All lots are sold at the Auctioneer’s discretion unless written instructions to the contrary are received from the vendor at least 48 hours prior to the starting time of the sale (responsibility for receipt of such instructions rests with the vendor) and, in the event that a lot is so withdrawn, an administration charge of £25, or 5% of the reserve, whichever is the greater, will be levied.

e. The closing date for entries is six weeks before the sale date or when the full number of lots has been achieved, if earlier. The Auctioneer reserves the right to defer items to a later sale where either the maximum number of lots has already been reached or where, in the Auctioneer's opinion, earlier inclusion would result in an imbalance of lots on offer.

f. The vendor warrants to the Auctioneer that he/she is the true owner of the items entered (or has written authorisation from the true owner to sell the items) and that he/she has given the Auctioneer full disclosure of the provenance & authenticity of the said items and the vendor indemnifies the Auctioneer together with his servants and agents against all and any claim made in connection with the sale of the said items.

g. The vendor shall arrange to collect unsold or withdrawn lots within 28 days of the sale unless the Auctioneer has agreed to re-enter them in a subsequent sale and, unless otherwise agreed by prior arrangement, any unsold or withdrawn lots not collected within 28 days shall incur a storage charge of £2 per day.  Lots not collected after 3 months will be sold for the Auctioneer's account without further notification to the vendor.

h. Unsold or withdrawn lots will not be released until all outstanding charges have been settled in full.

i. Any offers for lots after the sale are only to be negotiated through the Auctioneer and any sale thereafter of items which have been viewed through the Auctioneer's catalogues, viewing days, advertising or internet sites is deemed to be transacted by the Auctioneer and full vendor's and buyer's commissions are payable by the vendor.

j. Payment of the proceeds of the sale less all applicable charges will be made to the vendor's bank account within 28 working days after the auction date, provided that the Auctioneer has received full payment from the purchaser. The Auctioneer shall not be liable for settlement of any lot for which he is not in possession of cleared funds.

k. In the event of any disputes relating to a lot, the Auctioneer reserves the right to cancel the sale of said lot.  The vendor will be responsible for collection of the lot.

l. Goods entered into the auctions are so done at the vendor's own risk and, while every reasonable effort will be made by the Auctioneer to look after such goods, the vendor accepts that the Auctioneer is not liable for any damage or loss to the vendor's items while in the Auctioneer's possession.

m. Vendors are not permitted to bid for their own lots.

4. Conditions of Sale - buyers

a. In making a bid for any lot, whether in person or otherwise, all persons acknowledge that they have read, understand and abide by these Terms and Conditions of Sale and the bidder acknowledges that he/she has satisfied him/herself fully before bidding, by inspection or otherwise, as to the condition of such lot.

b. Each bid is an offer to buy and a winning bid forms an irrevocable commitment to purchase the lot concerned.

c. Responsibility for a purchased lot shall pass to the buyer at the fall of the hammer; however, legal title shall not pass until the Auctioneer is in possession of cleared funds in payment for that lot.

d. The buyer will pay to the Auctioneer the hammer price together with a buyer’s premium calculated at a rate of 16% of the hammer price, no VAT payable. In respect of bids via the-saleroom.com, the latter's charge of 3% of the hammer price + VAT at the prevailing rate is payable in addition.

e. All lots not paid for and removed at the sale must be paid for in full and collected within 7 working days except where agreed by the Auctioneer in advance in writing. Overdue accounts will be charged interest at 5% pa.

f. No lot(s) may be removed until cleared funds are to hand except where agreed by the Auctioneer in writing.

g. Uncollected lots after 7 working days will incur a daily storage charge of £2 per lot thenceforth. Uncollected lots after 28 days, whether paid for or not, will be sold for the Auctioneer's account without further notification to the buyer.

5. The Auction Process

a. Those persons wishing to bid in person at the auction should first register at the auction front desk and obtain a bidding number. Prospective bidders who are not known to the Auctioneer will be asked for acceptable identification including proof of address.

b. Bidding in the room must be done by holding up the bidder's numbered card so that it is clearly visible to the Auctioneer who may refuse at his discretion to accept bids attempted in any alternative manner.

c. The Auctioneer reserves the right:

(i) to accept or refuse any bid(s), (ii) to regulate the bidding and amounts of any bid(s) and (iii) to rearrange, consolidate or withdraw any lot(s) or part of any lot without reason or notice.

d. At the fall of the hammer, the highest bidder, acceptable to the Auctioneer, shall be the buyer of the lot.

e. In the event of a dispute, the Auctioneer has absolute discretion to settle such dispute.

f. Lots may be paid for and removed during or immediately after the auction by application to the front desk. Payment at the sale is accepted in cash (maximum £5,000, 1.5% handling charge as charged by our bank), by debit-card or by credit-card. Company credit-cards and debit-cards and non-EU credit-cards and debit-cards will incur an additional charge of 3% of the total amount payable. Cheques are not accepted.

g. Lots in respect of which cleared payment is not possible on the day must be collected from the Auctioneer's premises within 7 working days of notification of receipt by the Auctioneer of cleared funds.

h. Commission bids may be left with the Auctioneer by lodging a completed Commission Bid form by the deadline stated on the form. Commission bids will be executed by the Auctioneer as cheaply as possible on a best-efforts basis and without obligation and he shall not be responsible for any neglect or default in executing or failing to execute any commission bid.

i. Commission bidding is also available, as well as online live bidding, via the-saleroom.com's website and all online bids that are successful will be subject to an additional fee of 3% + VAT on the hammer price.

j. The buyer of each lot shall be the person making the highest bid which is acceptable to the Auctioneer. In the event of an equal maximum bid for any lot between the saleroom and a commission bid and/or a bid via the-saleroom.com, the bid in the saleroom will take preference. In the event of two or more commission bids being equal, the first one received takes preference.

k. Estimated values of lots are provided as a guide as to what price the lot may attain, based on previous auction results and the Auctioneer's knowledge of the prevailing market. These are indications provided in good faith but as statements of opinion rather than facts.

l. Lots will be sold in numerical order (unless otherwise stated) at a rate of between 80 and 100 lots per hour.

m. The Auctioneer does not pack or ship lots. Buyers should collect their purchases or arrange for their own courier to do so. Collection is by prior arrangement from the Auctioneer's storage location in Edenbridge, Kent and 2 working days' notice is required to make arrangements for collection. Upon request, the Auctioneer can put buyers in touch with a shipping agent who will collect, pack and ship on the buyer's behalf. Such arrangements will form a separate contract between the buyer and the shipper and the buyer will pay the shipping costs directly to the shipper. Safe transit of purchases by personal collection, courier or shipper is at the sole risk of the purchaser.

n. All transactions associated with this auction sale shall be governed by English law.