1. Interpretation. In these Terms the words ‘you’, ‘yours’, etc refer to the seller and if the consignment of goods to us is made by an agent we assume that the Seller has authorised the consignment and that the consignor has the Seller’s authority to contract. Similarly the words ‘we’, ‘us’, etc. refer to the Auctioneers.
2. Commission is charged to sellers at the following rates:- A minimum of £5 per individual lot (whether sold or unsold) or 15% on individual lots realising up to £10,000 and 12.5% on the balance from £10,001, subject to a minimum entry fee of £10 per auction. All charges are subject to VAT at the standard rate.
3. Removal costs. Items for sale must be consigned to the saleroom by any stated deadline and at your expense. We can assist you with arrangements for the delivery but any liability incurred to a carrier for haulage charges is solely your responsibility.
4. Loss & Damage of Goods Warranty.
(a) All goods on our premises or under our control are covered by a loss and damage warranty against all risks while so placed and sellers are charged at the rate of 1% of the hammer price plus VAT at the standard rate or, at our discretion if unsold, our lower estimate of the hammer price.
(b) If the owner of the goods consigned instructs us in writing not to cover them under the warranty, they can remain at owner’s risk unless and until the property in them passes to the Buyer or are collected back by or on behalf of the owner, and clause 4(a) is inapplicable.
5. Illustrations. The cost of any illustrations in the catalogue or other marketing tools is borne by you. Please note any items included in the Fine Art and Antique Catalogue or other specialist sale will automatically be photographed for marketing on the web and internet live bidding purposes. Additional illustrations in the printed catalogue are optional at a supplementary cost. The copyright in respect of such shall be the property of us, the auctioneers, as is the text of the catalogue.
6. Minimum bids and our discretion. Goods will normally be offered subject to a reserve agreed between us before the sale in accordance with clause 7. 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 a ‘discretion’ we may accept a bid of up to 10% below the formal reserve.
(a) You are entitled to place 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 (in which case goods carry the storage and insurance charges stipulated in these Terms of Consignment).
(b) A reserve once set cannot be changed except with our consent.
(c) Where a reserve has been placed, only we may bid on your behalf and only up to the reserve (if any) and you may in no circumstances bid personally.
8. 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. Goods not certified as safe by an electrician (unless antiques) will not be accepted for sale. They must be removed promptly at your expense on your being notified. We reserve the right to dispose of unsafe goods as refuse, at your expense.
9. 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 promptly at your expense on your being notified. We reserve the right to dispose of unsafe goods as refuse, at your expense.
10. Descriptions. Please assist us with 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. We will assume that you have approved the catalogue description of your lots unless informed to the contrary.
11. Unsold Items.
(a) If an item is unsold subject to a reserve it may with your consent be re-offered at a future sale subject to review of the reserve. Items awaiting sale are stored free of charge. However, if you fail to give instructions to re-offer or fail to re-collect these items within one week we reserve the right to charge you for storage (see clause 15). If after three weeks you have failed to give instructions to re-offer or failed to recollect the items, we reserve the right to sell them without reserve and defray charges from any net proceeds of sale or at your expense to consign them to the local authority for disposal.
(b) Where in our opinion an item is unsaleable you must re-collect such items from the saleroom within 48 hours on being so informed. We reserve the right to charge for the storage of unsaleable items, which have not been collected within 48 hours of notification (see clause 15). If not collected within one week of notification we reserve the right to consign them to the local authority for disposal at your expense.
12. Withdrawn Items. If you withdraw an item from sale after it has been catalogued you are liable to incur a charge of 20% of the reserve or, where no reserve has been placed, at Morphets lower estimate plus all expenses incurred subject to VAT at the standard rate.
13. Conditions of Sale. You agree that all goods will be sold on our Conditions of Sale. A copy of the Conditions of Sale is available on request. In particular you undertake that you have the right to sell the goods either as owner or agent for the owner. You undertake to indemnify us and any buyer or third party in respect of breach of this undertaking.
14. Authority to deduct commission and expenses and retain premium and interest.
(a) You authorise us to deduct commission at the stated rate and all expenses incurred for your account from the hammer price and consent to our right to retain beneficially the premium paid by the buyer in accordance with our Conditions of Sale and any interest earned on the sale proceeds until the date of settlement.
(b) You authorise us in our discretion to negotiate a sale by private treaty in the case of lots unsold at auction, in which case the same charges will be payable as if such lots had been sold at auction and so far as appropriate these Terms apply.
15. Warehousing. We disclaim all liability for goods delivered to our saleroom without sufficient sale instructions and reserve the right to make a minimum warehousing charge of £5 plus VAT per lot per day. Unsold lots are subject to the same charges if you do not remove them within the time limits stated in clause 11. (a) and (b).
16. Settlement. After sale settlement of the net sum due to you normally takes place within twenty-eight days of the sale (by crossed cheque to the seller) unless the buyer has not paid for the goods. In this case no settlement will then be made but we will take your instructions in the light of our Conditions of Sale. You authorise any sums owed by you to us on other transactions to be deducted from the sale proceeds.