Conditions of Sale
Auctioneum Ltd carries on business with bidders, buyers and all those present in the auction room and online on the following General Conditions. These terms are general, and buyers are specifically requested to read the terms relevant to each auction, as occasionally some elements may change. Terms for each sale are clearly displayed when signing up to bid.
Buyer’s premium
The buyer shall pay the hammer price together with a premium of 21% plus VAT on the premium (25.2% in total). Lots purchased via online bidding platforms attract an additional platform fee plus VAT. Artist’s Resale Right royalties are charged where applicable. VAT on the hammer price is payable on all lots marked with an asterisk (*).
Bidding
The maker of the highest bid accepted by the auctioneer shall be the buyer at the hammer price, and any dispute about a bid shall be settled at the auctioneer’s absolute discretion. Bidders are deemed to act as principals. Bidding increments are at the auctioneer’s sole discretion. In online timed sales, a bid within the final 10 minutes resets the lot timer to 10 minutes.
Payment
We accept payment by debit card, credit card (up to £200) or bank transfer (mandatory for invoices over £500). We no longer accept payment by cheque or cash. Online bidders must have a registered card; if no contact is made within 7 days, payment may be taken automatically from the registered card. Ownership does not pass until payment has been made in full.
Collection & storage
Buyers shall, at their own risk and expense, collect lots purchased and paid for no later than five working days following the auction, after which they are responsible for removal, storage and insurance charges. Items outstanding after this period (where delivery, collection or postage has not been arranged) will be moved to off-site storage and charged at a rate of £5 per lot, per day.
Descriptions & condition
Whilst we seek to describe lots accurately, statements as to authorship, origin, date, age, provenance, condition or estimated selling price are matters of opinion. All items are sold ‘as is’, and prospective buyers are given ample opportunity to view, inspect and request condition reports before any sale.
Anti-money laundering
Auctioneum Ltd is required to carry out identity checks for transactions over €10,000 (or the sterling equivalent). Bidders on such lots will be asked for additional documentation; if we are unable to verify your identity we will be unable to proceed with the transaction.
Questions about a lot, a commission bid or a consignment? Email info@auctioneum.co.uk or call 0117 967 1000.