Holt’s Terms and Conditions
Definitions
1. ‘The Auctioneers' means
Holt & Company Auctioneers Limited of Modern
and Antique Guns.
‘The
Auctioneer' means the representative of Holt & Company Auctioneers Limited of Modern and
Antique Guns conducting the sale;
‘The hammer price' means the
price at which any lot is knocked down to a
buyer.
'Deliberate
forgery' means an imitation made with the intention to deceive as to authorship, origin, age or source, which is not so described in the catalogue and which has a value
materially less than if it had been
in accordance with the description in the catalogue.
The Auction
2. The highest bidder shall be the buyer. In the event of any dispute, the
Auctioneer's decision shall be final.
3 The
Auctioneer shall have absolute discretion to withdraw, alter or combine with any other lot all lots offered for sale.
4.
All lots are offered subject to any reserve prices imposed by the vendor.
5.
Whilst every care is taken in the preparation of the catalogues, the Auctioneers
accept no responsibility for any inaccuracies contained therein.
6.
Lots shall be
held to be at the buyers risk from the fall of the hammer.
7.
Legal title shall not pass to the buyer until the purchase price together with the premium has been paid in full.
8.
Purchasers and
vendors are in direct contract with one another in respect of each individual
lot.
9.
All
transactions to which the Auctioneers are a party shall be governed by and
construed in accordance with the law of
Conditions concerning buyers
10.
A buyer's premium of 22.5% (exclusive of VAT) will be added to the hammer price of all lots.
11.
Buyers will be
required to supply to the Auctioneers their names and addresses and if required, a deposit, immediately after the fall of
the hammer.
12.
Commission bids will be executed free of charge but must reach the
Auctioneers by 6pm on the day preceding the sale. Telephone commission bids
must be confirmed in writing.
13.
The buyer shall not rely purely upon the catalogue description but shall satisfy himself as to the
physical condition and the description of each lot.
14.
No lot shall be removed until the purchaser has paid in full for it and
for any other lots purchased.
15.
Interest calculated at 2% above the base rate prevailing at National Westminster Bank PLC shall be payable
at the Auctioneers discretion as well as the purchase price on any accounts not
settled within 14 days of date of original invoice. Interest charged on the hammer price will be
remitted to the vendor concerned.
16.
Items bought in the
17.
The Auctioneers shall have the discretion to re-enter items in a
subsequent
18.
All shipping charges will be invoiced separately
19.
Third party cheques will not be accepted in payment
20.
By making a bid, prospective purchasers acknowledge acceptance of these conditions.
Conditions concerning Vendors
21.
Goods delivered to the Auctioneers shall be deemed to be for sale by auction unless contrary instructions are given at the
time or in advance.
22.
All goods will be insured by the Auctioneers whilst in their custody or
on their premises unless written instructions to the contrary are received. The
value of the cover shall be the gross selling price of the goods, or in the case of unsold lots or lots withdrawn before sale,
the auction value as estimated by the Auctioneers. The premium of insurance cover shall be £1.50 (+VAT)
per £100. The minimum charge will be £1.50 (+VAT)
per lot.
23.
The Auctioneers shall not be responsible for accidental damage or loss
unless directly caused by the negligence of their staff.
24.
The vendor authorises the Auctioneers to deduct commission (at a minimum of £10 per lot) and any other proper expenses from the hammer price. He/she also accepts the Auctioneer's
right to retain any premium paid by the purchaser.
25.
The
Auctioneers shall have the right to photograph and illustrate any lot consigned
for sale and to use such photographs at their discretion. The vendor accepts
without further consultation that a charge
per illustrated lot may be made towards photographic expenses. The charge imposed will be at the
Auctioneers discretion and will not exceed £300. No charge
will be made for any unsold lot.
26.
All lots will
be sold at the Auctioneer's discretion unless written instructions to the contrary are received. Any reserve figure placed upon
a lot shall be confidential between the vendor and the Auctioneers. In the
event of a lot failing to reach its reserve, the Auctioneers shall be entitled to a commission of 5.9% (inclusive of VAT)
of the reserve price, unless alternative charges have been previously agreed.
27.
A withdrawal fee of 25% plus VAT of the lower estimate (or reserve price, if there is one) shall be
payable to the Auctioneers for any lot withdrawn prior to sale after it has been
catalogued
28.
The Auctioneers will charge interest on the hammer price to purchasers
who delay making payment
29.
The vendor shall indemnify the Auctioneers against any claim relating to goods sold on his/her behalf.
30.
A vendor who enters for sale goods which are assets of a VAT registered
business must disclose this fact to the Auctioneers. He/she must also provide his/her registered
number and indicate whether or
not he/she intends to operate the Special Scheme for Antiques and Works of Art.
31. The
Auctioneers act as agents only and therefore shall not be accountable
to the vendor for any sum until payment has been received from the buyer.
Forgeries
32.
Should any lot
prove to be a deliberate forgery, the Auctioneers, upon receipt of written notice of this fact within one year of the
sale, shall rescind the sale or repurchase
the lot for an amount equal to the hammer price plus premium (inclusive of
VAT), provided that:
(a)
The lot is returned in the same condition as at the time of the sale;
(b)
Written proof of the forgery accompanies the lot and the buyer demonstrates to the reasonable
satisfaction of the Auctioneers that in light
of the catalogue description the lot is a deliberate forgery;
(c)
The general opinion of scholars and experts at the time of the sale would have indicated that the lot
was a deliberate forgery: or,
(d)
Scientific processes in existence at the time of the sale would be established that the lot was a deliberate forgery.
The benefit of this condition is
not assignable.
Item VAT rate codes: