Terms and Conditions of Sale of Goods at Auction.

1. By participating in the sale all sellers, bidders and buyers agree to the Smith & Wilde conditions of sale of goods by auction, subject to English Law.
2. These conditions shall be governed by and construed in accordance with English law. All transactions to which these conditions apply and all connected matters shall also be governed by English law.
3. Admission to the auction is by catalogue only and Smith & Wilde reserve the right, at their discretion to refuse or admit admission or attendance.
4. Smith & Wilde reserve the right to fix a reserve price for any lot.
5. Smith & Wilde may without giving any reason refuse to accept the bidding of any person.
6. In the case of a dispute as to any bid, Smith & Wilde may immediately determine the dispute or put up the lot again at the last undisputed bid or withdraw the lot.
7. No person may advance less at a bid than a sum to be named from time to time by the auctioneers.
8. Lots on which VAT is payable by the buyer are indicated in the catalogue. VAT is payable at the rates prevailing on the day of the auction.
9. The seller may bid for any lot either personally or through Smith & Wilde or through any other person as many times as they respectively may think fit and may withdraw any lot (subject to the terms set out in the Smith & Wilde conditions of sale for the sale of goods by auction)
10. The seller without permission of Smith & Wilde may not withdraw a lot. If Smith & Wilde or the seller withdraw a lot, the seller will be charged a fee equal to 20% of lowest estimate or highest bid received, plus any photography, advertising, publicity and research charges incurred with a minimum fee of £25 per lot.
11. If Smith & Wilde and the seller agree a reserve there shall be no unsold charge.
12. A 25% charge of the sellers unagreed reserve shall be incurred if Smith & Wilde do not agree the reserve and the lot fails to meet the unagreed reserve if unsold.
13. If any lot carries a reserve agreed between the seller and Smith & Wilde, the lot will be sold subject to this reserve. The seller automatically gives Smith & Wilde 10% discretion on any reserve agreed.
14. No reserve can be higher than the lower estimate published in the catalogue. The seller may not bid, or employ any agent to bid on lots, which the seller has put up for sale. Smith & Wilde may bid on the seller's behalf.
15. The highest bidder for each lot shall be the buyer of that lot. The buyer shall pay commission to Smith & Wilde at the rate of the percentages shown below of the purchase price, plus VAT at the appropriate rate on such commission.
16. Selling 15% charge.
17. No fees for unsold lots as long as the reserve is agreed with the auctioneers in writing prior to the auction.
18. Any unsold lots remaining uncollected 10 working days after the auction unless agreed with Smith & Wilde will be liable for storage charges of £3 per lot per day plus insurance. No lots will be released to the seller unless until all charges have been paid for in full. The seller must also bear all costs including insurance of returning unsold items. Any lots uncollected within 4 calendar months after the date of the auction Smith & Wilde may dispose of the items as they see fit in order to recover any outstanding charges.
19. Lots submitted by overseas sellers that incur costs are the responsibility of the seller and not Smith & Wilde.
20. Buying. 15% commission plus VAT making a total of 17.63% charge on the hammer price. There is no VAT on the hammer price.
21. Insurance charge 1.5% of the lower estimate valuation.
22. The buyer of each lot shall give in his name and address and proof of identity (if required) to Smith & Wilde at the sale and shall if required pay to the auctioneers 10% of the purchase price as a deposit in part payment.
23. Each lot shall be at the buyer's risk from the fall of the hammer but must be paid for in full before property in the goods passes to the buyer.
24. The buyer is liable for a charge of £3 per lot per day + VAT (Whether or not the lot has been paid for) starting from the first day following the sale and continuing until the lot is removed or resold.
25. Upon failure by the buyer not to pay in full, any money deposited in part payment shall be forfeited to the owner of the lot, he paying out of it all just expenses, and the lot shall be resold by public auction or private sale and the deficiency (if any) arising upon the resale together with the expenses (plus any VAT chargeable thereon) of it shall be due as a debt from the buyer in default upon the first sale.
26. Every person in the place of auction before during or after the sale shall be deemed to be there at his own risk and with notice of the condition of the premises and their contents. Such persons shall have no claim against the auctioneers in respect of any injury sustained or any accident, which may occur from any cause whatsoever.
27. Smith & Wilde sell as agents for the seller (except where they are stated wholly or partly to own any lot as principal) and as such are not responsible for any default by seller or buyer.
28. The buyer will be the highest bidder and once a bid is made no bids may be retracted. Bidding is a legal offer to buy and on the fall of the hammer, the successful bidder enters into a legally binding contract subject to English law. The lot then becomes the buyers risk and the legal title of any lot shall not pass to the buyer until the lot is paid for outright, including the buyer's premium and any other charges. At no time do Smith & Wilde warrant such title.
29. Neither the seller of any lot nor Smith & Wilde, their servants or agents is responsible for errors of description or for the authenticity of any lot or for any misstatement as to any matter affecting the lot. Neither the seller of any lot nor Smith & Wilde, their servants or agents makes or gives, nor has any person in the employment of Smith & Wilde any authority to make or give, any representation or warranty in relation to any lot and any implied conditions or warranties are excluded.
30. 10 working days after the sale, the seller gives Smith & Wilde permission to accept late bids or other offers with the intention of obtaining an amount for the seller equal to the net proceeds had the lot sold at its reserve or for a lesser amount agreed between the seller and Smith & Wilde, all such transactions are subject to the Smith & Wilde auction terms and conditions.
31. Notwithstanding any other terms of these conditions if, within 14 days after the sale, Smith & Wilde receive from the buyer of any lot notice in writing that in his view the lot is a forgery, and within 21 days after such notification the buyer returns it to Smith & Wilde in the same condition as at the time of sale and by producing evidence (the burden of proof on the buyer) satisfies Smith & Wilde that, considered in the light of the entry in the catalogue, the lot is a forgery, and further that the buyer is able to transfer a good and marketable title to the lot free from any third party claims, then the sale of the lot will be rescinded and the purchase price refunded. The seller and the buyer agree to be bound by Smith & Wildes' decision. In deciding whether or not the lot is a forgery Smith & Wilde shall be entitled to seek the views of any expert or other authority. By participating in the sale all bidders agree to the conditions of the sale of goods by auction.
32. Smith & Wilde acts as a commissioner of unnamed vendors basic currency is £ sterling for all business.
33. Payment may be made by cash, Switch, debit card, Visa, MasterCard or American Express. Company cheques are accepted, personal cheques are accepted if supported by a cheque guarantee card (cheques are only accepted on the day if supported by a letter of bank guarantee issued to Smith & Wilde prior to the day of the auction) Visa and MasterCard carry a 1.5 % surcharge, American Express carries a 4.8 % surcharge.
34. All lots can be extensively inspected and proved before the auction, and within the specified auction viewing set times. Every lot in this auction is auctioned off as seen, with any faults, errors of description, and imperfections. Catalogue descriptions shall not be considered a promise of quality pursuant and every description is made conscientiously but without giving any warranty. Any statement by the auctioneers as to the lot is a statement of opinion only and every person should rely on his own judgement as to all matters affecting the lot.
35. Smith & Wilde has the right to separate re-arrange, leave out or withdraw any lot without any declaration and has got also the right to exclude persons from the sale when it is necessary with out any statement.
36. Smith & Wilde do not accept any risk for a bidders misunderstandings, which result from phone calls faxes, mail bids, e-mails and letters.
37. Smith & Wilde will not assume any responsibility for any defects or attributes, hidden or patent and shall not be liable for catalogue descriptions, written explanations and any statements on phone or fax or e-mail.
38. Absentee bids may be made and this is a free and confidential service. Lots will always be bought as cheaply as is consistent with other bids using the Smith & Wilde bidding form. Smith & Wilde will not accept bids under the catalogue price, order bids can be sent by fax, postal service or e-mail.
39. Bidding is by a paddle system.
40. All buyers will be required to sign and complete a Smith & Wilde registration form before viewing. On completion of a Smith & Wilde registration document a bidding number will be allocated. All lots purchased must be paid for on the day of the auction, unless agreed with Smith & Wilde - any purchased lots uncollected will be removed to safe storage at a minimum fee of £12 per lot.
41. At the discretion of Smith & Wilde bidders may be required to show an ID card and a bank reference or place a security deposit before the auction, otherwise if a bidders fails to meet any of the conditions set by Smith & Wilde then Smith & Wilde reserves the right not to accept the bids.
42. Smith & Wilde offer the facility to make commission bids for persons who are unable to attend the auction. Smith & Wilde will use all reasonable efforts to purchase lots as cheaply as permitted by other bids and/or reserves if any and subject to their terms and conditions for sale of goods by auction. No charge will be made for this service. All commission bids should be received 24 hours before the auction and written on the bidding form provided in the Smith & Wilde catalogue.
43. Methods of payment for overseas clients are by international bank transfer or Western Union and a charge of £12 per transaction will be incurred.
44. All bids shall be treated as offers made on the conditions of sale and notices in the catalogue, and it is advised that every bidder should take part in the viewing of the auction sale.
45. If payment is outstanding from any purchaser 28 days after the auction Smith & Wilde reserve the right to withdraw the sale. Smith & Wilde have no liability to pay the seller if the purchaser has not paid for the lot or lots or the auction of the lot has been withdrawn.
46. Invoices are to be paid within 10 working days from the day of the auction. Items will not be released until payment has been received in full. Purchased items still in possession of Smith & Wilde will be covered by their insurance for a period of up to 10 working days after the date of the auction.
47. Smith & Wilde can provide postage, packing and shipping. The purchaser will be liable for this cost. Smith & Wilde reserve the right as to the method of shipment. A written quotation will be submitted to the purchaser for this service. Insurance can be provided at extra cost. In respect of overseas clients customs documentation will be completed accurately, any import duty or tax incurred is the sole responsibility of the buyer.

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