Vendors Terms and Conditions - Terms Of Consignment of Vendors
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.
Commission is charged to the sellers at the following rates:
15% on each lot sold which is antique.
20% on Wardrobes, Curtains & Beds, Sofas, Settees, Pianos & modern or reproduction items.
Reproduction Upholstery, Dining Room & Bedroom Furniture.
Minimum charge £5.00 plus VAT per lot.
3. Removal costs.
Items for sale must be consigned to the sale room by any stated deadline and at your expense. We may be able to assist you with this process but any liability incurred to a carrier for haulage charges is solely your responsibility.
4. Loss and damage warranty.
We are not regulated by the FSA for the provision of insurance to clients. However, we for our own protection assume liability for property consigned to us at lower pre-sale estimate. To justify accepting liability, we make a charge of 2% of the hammer price plus VAT.
a. If the owner of goods consigned instructs us in writing not to take such action they then remain at owner's risk unless and until the property in them passes to the Buyer or they are collected by or on behalf of the owner, and clause 4a) is inapplicable.
The cost of any illustrations is borne by you i.e. £10.00 per lot. The copyright in respect of such illustrations shall be the property of us, the auctioneer, 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 "discretion" we may accept a bid of up to 20% below the formal reserve.
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. A reserve once set cannot be changed except with our consent. Where a reserve had 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 at you 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 at your expense. We reserve the right to dispose of unsafe goods as refuse, at your expense. The rights of disposal referred to in clause 8 and 9 are subject to the provisions of The Torts (Interference with Goods) Act 1977, Schedule 1, a copy of which is available for inspection on request.
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. Where we are obliged to return the price to the buyer when the lot is a deliberate forgery under condition 15 of the Conditions of Sale and we have accounted to you for the proceeds of sale you agree to reimburse us the sale proceeds. The liability to reimburse the sale proceeds shall not arise where you are acting reasonably and honestly and are unaware of the forgery but we are or ought to have been aware of it.
11. Unsold and Withdrawn items.
If an item is unsold it may with your consent be re-offered at a future sale. Where in our opinion an item is unsalable you must collect such items from the saleroom promptly on being so informed. Otherwise, storage charges may be incurred. We reserve the right to charge for storage in these circumstances at a reasonable daily rate.
12.Withdrawn and Bought Items.
If an item is withdrawn, any expenses incurred prior to the printing of the catalogue will be charged to the client. After the catalogue had been printed withdrawn items incur charges comprised of the sum of the vendor's commission, the buyer's premium, the illustration cost, the loss and damage warranty and other expenses in relation to that item. VAT will be levied upon all these charges at the standard rate. These charges will be calculated upon Francis Smith Ltd's published high estimate.
13.Conditions of Sale.
You agree that all goods will be sold on our Conditions of Sale. In particular you undertake that you have the right to sell the goods either as owner or agent for the owner. You undertake to compensate us and any buyer or third party for all losses liabilities and expenses incurred in respect of and as a result of any breach of this undertaking.
14. Authority to deduct commission and expenses and retain premium and interest.