1. BEFORE THE SALE
1.1 Agent for the Seller
Cadmore Auctions (hereafter C.A) acts as an agent for the Seller. The Seller agrees that C.A shall promote and offer the Lot(s) for sale on their behalf.
For the purposes of the present Terms and Conditions, the Seller is defined as the legitimate owner of the Lot(s). The Contract of Sale is between the Buyer and the Seller.
1.2 Seller Undertakings
The Seller undertakes to C.A that they are the true owner of the Lot, or have been duly mandated by the true owner to sell the Lot, and that there are no claims relating to ownership or title or any other claim thereon.
All information provided by the Seller prior to the sale, including but not limited to attribution or provenance is deemed to be true and accurate.
The Seller shall be bound by such assertions and may be liable to indemnify C.A for any false statements made. Any Seller acting in the course of
Business shall be bound by the description they make. In relation to imported items, the Seller undertakes that the Laws of the countries from which the item was exported have been complied with and that the item has been lawfully imported. It is the Seller’s duty to obtain necessary licenses and authorisations for the purposes of the sale.
1.3 Proof of identity
The Seller shall be required to provide proof of identification in the form of a passport and photocard driving licence. No other forms of ID are acceptable. Proof of address of main residence is also required. Only official documents showing name and address will be accepted.
1.4 Lot examination and description
C.A shall proceed to a free standard examination of the Seller’s Lot, which does not involve in depth investigation or tests unless otherwise agreed. The Seller may request further research and tests which may incur extra costs. Such undertakings by C.A shall be at the Seller’s expense.
Identification and description of the Lot is a statement of opinion by C.A and at this point is made for the sole purposes of informing the Seller. Until the Lot is entered for sale, the basic description given by C.A is not binding.
Estimates at C.A are made for indicative purposes only and are merely a statement of the auctioneer’s opinion, based on a variety of factors such as the item’s market value at the time of the sale, quality, rarity etc.
The Seller accepts that any estimate or valuation provided by C.A is a genuinely held opinion only and can in no way be considered as a guarantee of the selling price or value of the item. Estimates do not include Seller’s Commission or VAT.
C.A shall not be held responsible if a Lot does not sell within the range of the provided estimate and by no means can the sale be cancelled by the Seller in such circumstances.
The Seller may place a reserve price on items offered for auction. Reserve prices of less than £50 shall not be accepted. Where Lots are entered on a signed contract or receipt without reserve, the Lot may
be sold to the highest bidder, irrespective of the price achieved by the said Lot at auction. Lots with discretionary reserves may be sold at 15% below the lower estimate.
1.7 Cataloguing / Marketing
A basic description of the Lot shall be made prior to cataloguing. This basic description is for identification purposes only and by no means is C.A held by such assertions.
An agreed processing charge, which may include a marketing fee where applicable, will be incurred on sold lots only as per the figure stated in the Consignment Agreement.
Marketing and any promotion of a lot(s) in any medium is at the sole discretion at C.A
C.A shall own the copyright on all images, illustrations and written material produced by or for C.A relating to a Lot, including catalogue contents. The Seller shall not use the said materials without the prior consent of C.A.
1.8 Item withdrawal before the sale
In the event a catalogued Lot is withdrawn by the Seller prior to the sale, a charge of £30 plus VAT or 10% of the reserve plus VAT (whichever is greater) will be levied. C.A may at its entire discretion and at any time before or during the sale withdraw a Lot consigned by the Seller for any reason it deems reasonable, such as where disputes have arisen with respect to questionable authenticity or attribution, or in the event of any other claim on the Lot.
Any costs in relation to the sale that may arise, such as Seller’s Commission, taxes, and any other costs relating to the promotion of the Lot by C.A (when agreed) or obtaining relevant authorisations for the purposes of the sale shall be at the Seller’s expense. C.A may, upon the Seller’s request or prior consent, arrange additional services such as restoration of the item or authenticity tests. Any additional costs that may be incurred for the purposes of promoting and selling the Lot shall be at the Seller’s expense.
2. DURING THE SALE
2.1 Bidding policies
C.A shall regulate the bidding at its entire discretion.
Neither the Seller nor anyone on behalf of the Seller shall be permitted to bid for their own Lots.
Where Lots are entered with a reserve, C.A alone shall have the right to bid on behalf of the Seller and up to the set reserve price only. Bidding thereafter shall be incremented at the auctioneer’s discretion in response to interested third parties.
3. AFTER THE SALE
3.1 Unsold Lots
If a Lot does not sell during the auction, the Seller must collect said Lot no later than close of business on the Friday following the sale, or agree a re-entry schedule with C.A.
C.A does not store unsold Lots without arrangement. Uncollected items shall be sold without reserve, or prior notice. Storage of said items shall incur storage fees at £5 per lot per day plus VAT at the Seller’s expense until collection by the Seller or disposal by C.A. Unsold or withdrawn Lots will not be released until all outstanding charges have been settled in full.
3.2 Unsold without reserve
Should any item (estimated at £50 or under) without reserve not attract a bid during the auction, C.A reserves the right to dispose of the item in the absence of an agreed arrangement with the seller.
3.3 Seller’s Commission
A commission charge of 15% of the hammer price on any Lot, plus VAT on that commission, shall be payable by the Seller to C.A. Exemptions to this fixed rate must be detailed in the ‘Special Instructions’ section of the Consignment Agreement.
C.A shall make the payment for the proceeds of the sale to the Seller within 35 days of said sale. Payment shall be made by cheque or bank transfer within the above-mentioned time limit after full payment for any outstanding charges owed by the Seller has been made to C.A.
Cheques for the proceeds of the sale (minimum of £5) less all applicable charges, will be mailed to the seller 35 days after the auction date – provided that C.A has received full payment from the purchaser.
3.5 Loss or Damage
C.A shall store consigned Lots on its premises.
C.A is not authorised by the Financial Services Authority (F.S.A.) to provide insurance to its clients and does not do so. However, C.A provides a Loss or Damage Liability Warranty, therefore assuming liability for Lots consigned to it at the lower pre-sale estimate, until title passes to the Buyer at the fall of
the hammer. A Loss and Damage Liability Warranty fee of 1.5% of the hammer price plus VAT will be charged.
The liability assumed by C.A under the present section shall be limited to the lower pre-sale estimate or to the set reserve price if the Lot was unsold.
C.A shall not be liable for loss or damage to: frames or glass covered prints, paintings or other works OR for damage caused by: moths, vermin, woodworm, insufficient packing, preparation carried out by the Seller or on their behalf.
Old frames are often fragile or subject to deterioration and whilst C.A will do its upmost to ensure
the safety and care of frames and glass, it will not compensate for loss or damage to property caused by changes in humidity or temperature; normal wear and tear; gradual deterioration; or inherent defect. Settlement in any claim arising shall be subject to commission as if the lot had sold in the normal manner.
In the event C.A becomes aware of any error or dispute of any nature during or after the auction, it may entirely at its discretion cancel the sale or reoffer and resell the Lot, whether or not title has passed to the Buyer, and up to a period of 6 months after said sale.
Grounds for cancellation under the present section shall include but not be limited to: any dispute relating to the attribution or provenance of the Lot; ownership and title; fraud or deceit; lack of relevant licences or certificates; any subsequent changes in domestic or international legislations restricting the sale of export of goods etc.
In the event fraud is committed, the Seller may be liable to indemnify both the Buyer and C.A. Ltd. By no means can the Seller cancel the sale upon the fall of the hammer. However, the Seller must notify
C.A within 28 days of any event which may give rise to a claim failing in which C.A reserve the right to decline any such claim.
If C.A has made payment for the proceeds of the sale to the Seller prior to cancellation of the said
sale, the Seller shall make a full refund of the proceeds within 5 working days from notification of the cancellation by C.A.
3.7 Data protection
The Seller agrees that personal information transmitted to C.A may be disclosed exclusively for the purposes of business, or as required by Law.
C.A shall not use personal information for any other purpose without the Buyer’s prior consent.
C.A shall never sell, lend or trade in personal data provided by any Party.
Whenever and to the extent that any provisions of these terms would or might contravene the provision of any relevant legislation, such provision is to
take effect only in so far as it may do so without contravening such legislation and the legality, validity and enforceability of any of the remaining provisions are not in any way to be affected or impaired as a result.
3.9 Law and Jurisdiction
The rights and obligations of the parties with respect to these Conditions of Sale and the conduct of
the auction and any matters related to any of the foregoing shall be governed by and interpreted in accordance with the Law of England and Wales.
For the benefit of C.A all bidders and sellers agree that the Courts of England are to have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Conditions of Sale and Authorship warranty relate or apply. All parties agree that C.A shall retain the right to bring proceedings in any court other than the Courts of England.