Terms and Conditions
Featonbys Auctioneers & Valuers
15 Little Bedford Street, North Shields ,Newcastle, Tyne and Wear, NE298NW
TERMS & CONDITIONS
1. Third Party Liability
All members of the public on our premises are there at their own risk. Neither the Auctioneer, employees or agents shall incur liability for death or person injury (except as required by law by reason of our negligence) or similarly for the safety of the property or persons visiting before during or after a sale.
The auctioneer means the firm of Featonbys Ltd or its authorised Auctioneer who act as Auctioneers and agents for the vendor.
Whilst every effort is made to ensure the accuracy of the catalogue and the description of each lot.
i) Each lot is sold by the vendor with all faults, imperfections and errors of description
ii)Featonby's Ltd do not accept responsibility for the attribution, genuineness, authenticity, origin, authorship, date, age, period or condition of any lot, unless they have been instructed in writing by the vendor and are not themselves responsible for such claims
iii) All statements whether printed in the catalogue or made orally, as to any of the matters in (ii) above are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by Featonby's Ltd, unless they have been instructed in writing by the vendor so to certify and in such case the Auctioneers do so as agents of the vendor and are not themselves responsible for such claims
iv)All measurements and weights are approximate and should be verified by the intending purchaser
v)Any claim under Statute must be received in writing by the Auctioneer within ten days of the day of the sale.
vi)The seller warrants to the Auctioneer and the buyer that the seller is the true owner of the property or authorised by the true owner to consign it for sale and is not held under a Hire Purchase Agreement, Bill of Sale or other legal document.
i)The Auctioneer may divide, combine add to or withdraw any lot or lots from the sale, refuse bids, regulate bidding or cancel the sale without giving any reason or without previous notice. He may bid on behalf of the vendor for any lots which are being offered subject to reserve, or at the Auctioneers discretion
ii) The highest bidder shall be the buyer except in the case of dispute. If during the auction a dispute has arisen, the Auctioneer has absolute discretion to settle it or to re-offer the lot. The Auctioneer may at his sole discretion determine the increments of bidding or refuse any bid.
iii) Each lot is put up for sale subject to any reserve price placed by the vendor.
iv) All descriptions, conditions, notices, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statement modifying or affecting the sale made by the Auctioneer from the rostrum prior to any bid being accepted for the lot.
Notwithstanding any other terms of these conditions – if within seven days after the sale Featonby's Ltd have received from the buyer of any lot notice in writing that in his view the lot is a deliberate forgery and stating the grounds on which he takes that view, and that within fourteen days after such notification the buyer returns the lot to Featonby's Ltd in the same condition as at the time of sale, and in doing so satisfies Featonby's Ltd that the lot is a deliberate forgery then the sale of the lot will be rescinded and the purchase price of the same refunded.
6. Default. Featonby's Ltd act as agents only and disclaim any responsibility for default by the vendor or buyer. They act as agents for the vendor only and therefore do not pay out to the vendor until payment is received from the buyer. Instructions given by telephone are accepted at the sender’s risk and must be immediately confirmed in writing.
7. Sale by Private Treaty.
Both the vendor and the buyer agree to be bound by the Terms and any Special Conditions of Sale.
Each buyer by making a bid for a lot acknowledges that he has satisfied himself before bidding as to all the sale conditions and the descriptions and condition of the lot including whether the lot is damaged or has been repaired or restored. Imperfections not stated.
Whilst care is taken to take accurate images they are intended for guidance only. Colours may vary.
10. Property and risk.
Legal title will not pass to the buyer until the lot has been paid for in full and the Auctioneers shall be entitled to a lien on any lot sold until the purchase price (as defined in 12 below) is paid in full but each lot is at the sole risk of the buyer from the fall of the hammer.
Every bidder shall be deemed to act as principal unless there is in force a written acknowledgement by Featonby's Ltd that he acts as agent on behalf of a named principal.
12. Payment & Removal of Goods
i)The Auctioneers accept payment in cash, BACS or card . In order to avoid delay in clearing purchases, buyers unknown to the Auctioneers are advised to make arrangements before the sale for payment, or for references to be supplied.
We are able to accept card payments when the buyer is not present by telephone.
Payment by BACS to Lloyds Bank. Include a lot number when making payment.
Account Featonby's Ltd. Sort code 772051 . Account number 34546660
IBAN – GB44 LOYD 7720 51 34 5466 60 . BIC – LOYDGB21B12
Removal of goods
No purchases may be removed during the auction sale or prior to full settlement. All purchases shall be paid for and removed at the buyer’s own risk and expense by the end of the second working day following the sale, or by arrangement with the Auctioneers. The Auctioneer shall not be responsible for any loss or damage and all lots not so removed shall remain at the risk of the buyer. Items which are not paid for and removed within seven days of the sale may be re-sold by auction or private treaty without notice to the buyer.
Deliveries can be arranged and booked in with the van department. Featonby's Ltd offer a postage and packing service of small items . For any larger shipments we recommend Mailboxes Etc. Newcastle – 0191 222 0018. Email email@example.com
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 lot, together with the charges and expenses in respect of both sales.
13. Purchase Price and Charges
The buyer shall pay the hammer price together with a premium of 25% including VAT, at the current rate imposed by law. The vendor authorises the Auctioneer to deduct commission and expenses at the stated rates from the hammer price and acknowledges the Auctioneers right to retain the premium payable by the purchaser.
14. Online Bidding
Featonby's Ltd offer an online bidding service via www.easyliveAuction.com for bidders who cannot attend the sale. Lots purchased via easyliveAuction.com live auction service will be subject to an additional 3% commission charge + VAT at the rate imposed on the hammer price or for live auctions you may select the Flat Fee of £3.00 - This is taken now by Easy Live Auction. You will not be charged any further premium on lots you win over and above the auctioneers normal Buyers Premium. NOTE: This fee will be taken regardless of whether you bid on / win lots.
15. Commission Bids.
The Auctioneers can execute bids on behalf of intending buyers at their own risk. Bids must be submitted at least one hour before the sale commences and entered on the forms provided. Bids left by telephone/email will be accepted only on the condition that they are at the sender’s risk. For catalogue sales commission bids can be left with www.the-saleroom.com. Telephone bids by arrangement with the auctioneers by 12 noon on the Saturday before the sale.
17. Withdrawal of Lots. Vendors who withdraw items from the sale after catalogues have been prepared will be charged a withdrawal fee of 10% + VAT of the reserve price or estimated sale value. Any items withdrawn must be collected within 7 days or be subject to a storage charge of £1 per lot per day, and will not be released until this fee has been paid.
18. Electrical and Mechanical Goods.
Lots which were originally operated by mains electricity/gas may not comply with 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 Featonby's Ltd has not tested electrical or mechanical goods and that the buyer is solely responsible for ensuring that such goods are tested by a suitably qualified person before use. Notwithstanding the above all Electrical, Gas and Mechanical Goods entered for the general Auction sale must be in perfect working order and comply with all safety regulations, or they will be disposed of without notice. Full commission will be charged on goods sold which do not comply with these conditions.
19. Payments to Seller. Accounts exceeding £50 are remitted by post; under £50 are paid in cash at the office. Payment is made seven working days after each general sale. Payment following catalogue sales twenty one working days.
20. Artist's Resale Right is a royalty payable to a qualifying artist or the artist's heirs each time a work is re-sold during the artist's lifetime and for a period up to 70 years following the artist's death. An amount equal to the resale royalty will be collected from the buyer of a work of art covered by these Regulations. This will then be passed to the relevant collecting agency. Royalties will be calculated using a sliding scale of percentages of the sale price. For auction companies, the sale price is the hammer price (i.e., the price without the premium). Resale royalties are not subject to VAT. Resale royalty does not apply when the hammer price is less than an estimated €1,000. For full details see www.dacs.org.uk.