Oro, a Car, Racing Car & similar group

1.  Definitions.

In these Conditions VECTIS AUCTIONS LIMITED act only as auctioneers and agents for the seller and the representative of VECTIS AUCTIONS LIMITED conducting the auction is called the "Auctioneer".

2.  General.

Whilst VECTIS AUCTIONS LIMITED make every effort to ensure the accuracy of their catalogues 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 sold by the seller with all faults, imperfections and errors of description.

(b)  VECTIS AUCTIONS LIMITED do not accept responsibility for the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot unless they have been instructed in writing by the seller to so certify, and in such case the Auctioneer do so agents of the seller and are not themselves 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 be VECTIS AUCTIONS LIMITED unless they have been instructed in writing by the seller to so certify.

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

3.  The Auction.

(a) The Auctioneer has absolute discretion to divide any lot, to combine two or more lots or to withdraw any lot or lots from the sale, to refuse bids, regulate bidding or cancel the sale without previous notice. He may bid on behalf of the seller for all goods which are being offered subject to reserve or at the Auctioneer's discretion. (b) The highest bidder shall be the buyer except in the case of a dispute. The Auctioneer may at his sole discretion determine the advance of bidding or refuse a bid. If during the auction the Auctioneer considers that a dispute has arisen, he has absolute discretion to settle it or to re-offer the lot. (c) Each lot is put up for sale subject to any reserve price placed by the seller. (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.

4.  Rescission.

Not withstanding any other terms of these Conditions, if within fourteen days after the sale VECTIS AUCTIONS LIMITED have received from the buyer of any lot notice in writing that in his view the lot is a deliberate forgery and within twenty-one days after such notification the buyer returns the same to VECTIS AUCTIONS LIMITED in the same condition as at the time of the sale and by producing evidence, the burden of proof on the buyer, satisfies VECTIS AUCTIONS LIMITED 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. The seller and the buyer agree to be bound by VECTIS AUCTIONS LIMITED's decision. In such cases the vendor will be approached by VECTIS AUCTIONS LIMITED for a refund of any monies paid to them. In the event of a dispute then the matter shall be settled by arbitration, the arbitrator to be agreed by both parties. Both the buyer and the seller agree to be bound by the decision.

5.  Defaults.

VECTIS AUCTIONS LIMITED disclaim responsibility for default by either the buyer or the seller because they act as agents for the seller only and therefore do not pay out to the seller until payment is received from the buyer. Instructions given by telephone are accepted at the sender's risk and must be confirmed in writing forthwith.

6.  In the event of a sale by private treaty both the seller and the buyer agree to be bound by the General and any Special Conditions of Sale.

7.  Third Party Liability.

Every person on VECTIS AUCTIONS LIMITED premises at any time shall be deemed to be there at his own risk. He shall have no claim against VECTIS AUCTIONS LIMITED in respect of any accident which may occur or injury, damage or loss howsoever caused, save in so far as the injury, damage or loss shall be caused by the direct negligence of VECTIS AUCTIONS LIMITED employees.

8.  Viewing.

The attention of intending purchasers is drawn to the separate BUYERS CONDITIONS printed at the end of these conditions of sale.

SELLERS CONDITIONS

9.  Instructions.

As VECTIS AUCTIONS LIMITED are auctioneers all goods delivered to VECTIS AUCTIONS LIMITED's premises will be deemed to be delivered for sale by auction unless otherwise stated in writing and will be catalogued and sold at VECTIS AUCTIONS LIMITED without

reserve and accepted by VECTIS AUCTIONS LIMITED subject to all the Sale Conditions. By delivering the goods to VECTIS AUCTIONS LIMITED for inclusion in their auctions sales each seller acknowledges that he or she has accepted and agreed to be bound by all these conditions.

10.  Collections.

VECTIS AUCTIONS LIMITED do not themselves usually undertake the collection of goods but will, if required in writing instruct a contractor on the seller's behalf in their capacity as agents. VECTIS AUCTIONS LIMITED disclaim all responsibility for loss or damage to goods or for unauthorised removal of goods and for damage to premises caused by the contractor who should be insured for such risks. Unlessinstructionsarereceivedtothecontrarythechargefortheseserviceswillbedeductedfromtheproceedsofsale.

11.  Loss or Damage.

VECTIS AUCTIONS LIMITED disclaim all responsibility for loss or damage to goods for unauthorised removal of goods unless by the direct negligence of their employees.

12.  Storage.

VECTIS AUCTIONS LIMITED reserve the right to store or arrange for the storage of goods delivered to them for sale either on their own premises or elsewhere at their sole discretion. They exempt themselves from any liability for loss or damage to goods delivered to their salerooms without sufficient sale instructions and reserve the right to make a storage charge for such goods (unless the loss or damage is caused by the negligence of their employees).

13.  Right to Sell.

Sellers will be charged for goods left on the premises if the seller has been requested to remove them, and if the goods are not removed within twenty-one days of such request VECTIS AUCTIONS LIMITED reserve the right to sell the goods to defray costs and storage charges.

14.  Insurance.

(a) Unless otherwise instructed in writing all goods on VECTIS AUCTIONS LIMITED's premises and in their custody will be held insured against the risk of fire, burglary and water damage. The value of the goods so covered shall be the gross amount realised, or in the case of unsold lots the best bid, or in the case of loss prior to sale, the reserve price. When no reserve has been fixed, at that price which the staff of VECTIS AUCTIONS LIMITED shall at their absolute discretion estimate to be the auction value of such goods. VECTISAUCTIONS LIMITED has appointed two independent consultants to assist in such matters. (b) VECTIS AUCTIONS LIMITED shall not be responsible for damage to or the loss, theft or destruction of any goods not so insured upon the owner's written instructions. (c) VECTIS AUCTIONS LIMITED shall not be responsible for accidental breakage, loss or damage howsoever caused unless directly caused by the negligence to their employees. (d) In the respect of any article delivered to VECTIS AUCTIONS LIMITED if the seller has in force a policy or policies of insurance in which the article is specifically mentioned as being insured whether or not for an agreed sum or value, the seller shall notify his insurers of, and shall himself note VECTIS AUCTIONS LIMITED's interest as bailees in such policy or policies.

15.  Reserves.

(a) All goods are put up for sale WITHOUT RESERVE unless written instructions are received by VECTIS AUCTIONS LIMITED prior to commencement of the sale. (b) In the event of any reserve price not being reached at auction, VECTIS AUCTIONS LIMITED are empowered to sell after the auction, by private treaty, at not less than the reserve price, as long as the goods remain on VECTIS AUCTIONS LIMITED'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. (c) All reserves must be agreed by both VECTIS AUCTIONS LIMITED and the vendor. If a reserve is not agreed and the goods fail to sell, a 7.5% charge of the reserve will be made. No reserves are carried forward to future sales.

16.  Indemnity.

The seller shall duly indemnify VECTIS AUCTIONS LIMITED against any claim in connection with any goods sold be VECTIS AUCTIONS LIMITED on the sellers behalf.

17.  Value Added Tax.

A seller who sends for sale by auction any chattel(s) which is an asset of his business must disclose to the Auctioneer whether or not he is a registered person for Value Added tax purposes and, if so, his registered number and whether or not he intends to operate the special scheme covering works of art, etc. This information must be supplied to the Auctioneer on or prior to delivery of the goods.

18.  Payment of Net Sale Proceeds.

VECTIS AUCTIONS LIMITED shall be entitled to deduct commission and expenses at the stated rate from the hammer price (the "Net Sale Proceeds"). VECTIS AUCTIONS LIMITED shall pay any Net Sale Proceeds to you in accordance with any payment instructions received from you. VECTIS AUCTIONS LIMITED shall use reasonable endeavors to transfer the payment of the Net Sale Proceeds to you within 25 days of receipt of funds from the Buyer.

Until payment of the Net Sale Proceeds, you agree that the only claim you shall have against VECTIS AUCTIONS LIMITED shall be for an amount corresponding to the Net Sale Proceeds, which you acknowledge discharge of on receipt of the Net Sale Proceeds.

19.  Rights to Photographs, Illustrations and Catalogue.

The seller gives VECTIS AUCTIONS LIMITED full and absolute right to photograph and illustrate any lot placed in its hands for sale and to use such photographs provided by the seller at any time at its absolute discretion (whether or not in connection with the auction). The contents of all catalogues are copyright to VECTIS AUCTIONS LIMITED and permission must be sought in writing for any form of reproduction.

20.  Late Withdrawls

(a)  Lots withdrawn once an item has been catalogued will incur a charge of 15% of the bottom estimate or the reserve which ever is greater.

(b)  Lots withdrawn after the catalogue has been printed and distributed will incur a charge of 25% of the bottom estimate or the reserve which ever is greater.

BUYERS CONDITIONS

21.  Inspection.

Opportunity is given for inspection and each buyer is making a bid for a lot acknowledges that he is satisfied himself fully before bidding by inspection or otherwise to all the Sale Conditions, the physical conditions and description of the lot including and not restricted to whether the lot is damaged or has been repaired or restored.

22.  Property and Risk.

The legal title in a lot shall not pass to the buyer until the lot(s) has been paid for in full and the Auctioneers shall be entitled to a lien on any lot 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 full names and permanent address and if called upon to do so by the Auctioneer shall forthwith pay VECTIS AUCTIONS LIMITED such proportion of the purchase price as the Auctioneer may require. If the buyer fails to do so, the lot may at the Auctioneer's sole discretion be put up again and re-sold.

23.  Every bidder shall be deemed to act as principal unless there is in force a written acknowledgement by VECTIS AUCTIONS LIMITED that he acts as agent on behalf of a named principal.

Bidding Increments

As Vectis Auctions Ltd are to participate in "live bidding” for all sales, to enable us to do this the following bidding increments will apply.

Any postal, internet or bids that have been telephoned in with odd figures, for example a bid for £56 will be rounded up to £60 or a bid for £222 will be rounded up to £240. In the event of a "tied” bid we will always accept the bid received first.

24.  Removal of Goods.

(a) No purchase shall be claimed or removed until the sale has been concluded, unless the Auctioneer announces prior to the sale goods may be removed before the sale ends. All lots shall be paid for and removed at the buyer's risk and expense by the end of the day of the sale except in the case of successful postal bidders who must pay within seven days of notification of such success (in the case of foreign postal bidders within fourteen days) failing which the Auctioneer shall not be responsible if the same lots are lost, stolen, damaged or destroyed, and all lots not so removed shall remain at the risk of the buyer and subject to a warehousing charge. If they are not paid for and removed within the aforementioned time limited the Auctioneer may re-sell them by auction or privately without notice to the buyer. Any liability which there may be on the part of the Auctioneer in respect of any loss shall be restricted to a maximum of the price paid by the buyer of the lot. All lots are sent to postal bidders at their own risk although every effort is made by the Auctioneer to pack all items safely and send via an appropriate courier. 

(b) Once goods have been removed from the Auction building by Buyers who attend the sale, no further responsibility for loss or damage however or whenever caused can be accepted by Vectis Auctions Limited. Buyers should ensure lots are as viewed before they are removed. 

(c) Each lot must be paid in full before delivery and in the event of any person purchasing more than one lot, the whole must be paid in full before delivery of any part. No lot shall be removed without an order signed by the Auctioneer or their clerk. 

(d) In the event of any failure of the buyer 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 lots, together with charges and expenses in respect of both sales, and together with interest at 2% above Handelsbanken Base Rate upon the price of any lot which has not been paid for within forty-eight hours of the sale, and any money deposited in part payment shall be held bythe Auctioneers on account of any liability of the defaulter to them or to the seller. The Auctioneers are unable to accept payment from successful bidders other than in cash or by bidder's own cheque. Cheques drawn by third parties, whether in the Auctioneer's favour or requiring endorsement, cannot be accepted.

Methods of payment

 Cheque

If payment is to be made by cheque and the cheque exceeds the cheque guarantee limit, then goods can only be collected on the day of the sale if the buyer is known to us, or if prior arrangements have been made. We reserve the right to hold goods until a cheque is cleared.

 Debit/Credit Card

Debit cards are accepted and there is no charge for this service. Most major credit cards are accepted.

 Bank Transfer

If you wish to pay by bank transfer, our details are as follows: Handelsbanken, Ground Floor, Winder House, Kingfisher Way, Stockton on Tees, TS18 3EX. Sort Code: 40-51-62 Account No: 42076703, IBAN: GB16HAND40516242076703, Bank Swift code: HANDGB22,

Account Name: Vectis Auctions Ltd

25.  Commission to Bid.

VECTIS AUCTIONS LIMITED will execute bids on behalf of intending buyers unable to attend the sale at no charge. VECTIS AUCTIONS LIMITED undertake to purchase lots as cheaply as allowed by other bids and reserves. Bids must be submitted in writing and whilst every care is taken in carrying out instructions VECTIS AUCTIONS LIMITED cannot be held responsible for errors or omissions made in carrying out such bids.

26.  Buyers Premium.

In addition to the hammer price every buyer will pay on INDIVIDUAL LOTS a sum equal to 22.5% of the hammer price exclusive of VAT at the rate in force at the time of purchase.

27.  Mechanical and Electrical.

Items sold in our auctions are sold as collectors items. Mechanisms have not been tested unless otherwise stated in the lot description.