TERMS & CONDITIONS

IMPORTANT INFORMATION FOR BUYERS

SECTION A

1. INTRODUCTION

The following notes are intended to assist Bidders and Buyers, particularly those who are inexperienced or new to our saleroom. The sale of goods at our auctions are governed by our Terms of Sale (for Live Auctions or Online Auctions as applicable), our Privacy Policy, the Important Information for Buyers, and any notices that are displayed in our saleroom or announced by the Auctioneer (in the case of a Live Auction) or displayed on any Listing for a Lot in our Online Auction catalogue (in the case of an Online Auction) (collectively, the “Terms and Conditions

of Business”). The Terms and Conditions of Business are available for inspection on our Website and at our saleroom on request. Our staff

will be happy to help you if there is anything in our Terms and Conditions of Business that you do not fully understand.

Please make sure that you read the applicable Terms of Sale carefully before bidding. If your bid is successful, you will be obliged to

comply with our Terms of Sale.

2. AGENCY

As Auctioneers we usually act on behalf of the Seller whose identity, for reasons of confidentiality, is not normally disclosed. If you buy at auction your Contract for your purchase of the goods is with the Seller, not with us as Auctioneer.

3. ESTIMATES

Estimates are designed to help you gauge what sort of sum might be involved for the purchase of a particular Lot. Estimates may change and should not be thought of as the Lot’s value or predicted sale price. The lower Estimate may represent the Reserve price (the minimum price for which a Lot may be sold) and will not be below the Reserve price. Estimates do not include the Buyer’s Premium or VAT (where chargeable). Estimates are prepared some time before the auction and may be altered by a saleroom notice or announcement by the Auctioneer before the auction of the Lot (for Live Auctions), or on the Listing for a Lot in our Online Auction catalogue before the auction of the Lot (for Online Auctions). They represent a matter of opinion and are not definitive.

4. BUYER’S PREMIUM

The Terms of Sale oblige you to pay a Buyer’s Premium at 25% on the Hammer Price of each Lot purchased. The Buyer’s Premium is subject

to VAT at the standard rate (currently 20%).

5. VAT

The following paragraphs are intended to give general advice on VAT for items purchased at auction. We have covered the common situations, and this may not be comprehensive. We are unable to offer Tax advice and we suggest you seek independent advice if you require clarifications or further information.

5.1 Items in our catalogue may be marked in the following ways:

(a) (†) indicates that VAT is payable by the Buyer on both the Hammer Price and the Buyer’s Premium. VAT will be chargeable at the standard rate (presently 20%) for most Lots. Qualifying books will be charged at 0%. This imposition of VAT is likely to be because the Seller is registered for VAT within the UK and is not operating the Dealers’ Margin Scheme on their consignment to us.

(b) (‡) indicates that the Lot has been imported from outside the UK using customs Temporary Admissions procedures. Import VAT of 5%

(reduced rate due to nature of the Lot) is due on the Hammer Price and an amount in lieu of VAT at 20% will be included in the Buyer’s Premium. This VAT on the Buyer’s Premium cannot be itemised separately on our invoices. The successful Bidder and therefore Buyer of the

Lot will become its importer.

(c) (Ω) indicates that the Lot has been imported from outside the UK using customs Temporary Admissions procedures. Import VAT of 20% (higher rate) is due on the Hammer Price and an amount in lieu of VAT at 20% will be included in the Buyer’s Premium. This VAT on the Buyer’s Premium cannot be itemised separately on our invoices. The successful Bidder and therefore Buyer of the Lot will become its importer.

(d) Lots which do not display one of the above symbols (referred to herein as unmarked Lots) have no VAT payable on the Hammer Price. This is because such Lots are sold using the Auctioneers’ Margin Scheme. Therefore, an amount in lieu of VAT at the standard rate is included within the Premium and will not be shown separately on our invoice or be recoverable as input Tax.

5.2 For the items marked (‡) or (Ω), Buyers registered for VAT in the UK should notify us as soon as possible after the sale so that we can correctly instruct our shipping agents to complete the import into the UK under the Buyer’s VAT registration and HMRC can issue a form C79. The charge on our invoice for the import VAT is not sufficient evidence to make a claim for the import VAT.

6. REFUNDS OF VAT

6.1 For Buyers from outside the UK, the VAT charged on the Hammer Price and Buyer’s Premium or included in lieu of VAT in the Buyer’s Premium can be refunded so long as the Buyer has:

(a) registered to bid with an address outside the UK; and

(b) discussed with us the proof of export we require and the timeframes to complete the export.

 

6.2 Once we are satisfied that the requirements referred to in Clause 1.6.1 have been met, and with the proof of export provided, the following VAT will be refunded:

(a) For Lots marked (†): The VAT on the Hammer Price and on the Buyer’s Premium.

(b) For Lots marked (‡) and (Ω): the import VAT and, the VAT in lieu in the Buyer’s Premium.

(c) For unmarked Lots: the amount in lieu of VAT in the Buyer’s Premium.

6.3 To enable us to refund the VAT charged correctly we normally require the use of our international shippers to assist with the required paperwork. For private Buyers, we will only be able to refund the VAT if our shippers are used for the export of the Lot outside the UK.

7. REINVOICING SALES

For unmarked Lots, you can request a Lot to be reinvoiced outside the Auctioneers’ Margin Scheme. VAT at 20% will be charged on the Hammer Price and the VAT on the Buyer’s Premium will be itemised separately on our invoice. This will enable a VAT registered business to reclaim all the VAT. Please note that the item will no longer be eligible to be sold in the Margin Scheme. We recommend you seek advice before proceeding. Requests must be made within 6 months of the sale and certain conditions apply.

8. INSPECTION OF GOODS BY THE BUYER

As we act on behalf of the Seller, we are dependent on information provided by the Seller about their goods. We may inspect Lots and will act reasonably in taking a general view about them. However, we are normally unable to carry out detailed examinations of Lots to check their condition in the way a Buyer would do. You will have the opportunity to inspect the goods (upon request). Where a Lot is made available for inspection, we strongly recommend that you inspect any Lots that you are interested in prior to bidding at the auction. Please carefully note the exclusion of liability for the condition of Lots set out in the Terms of Sale for Online Auctions at Clause 22.5 and the Terms of Sale for Live Auctions at Clause 18.5.

9. GOODS WITH ELECTRICAL COMPONENTS

These are sold as “antiques” for their historical and decorative attributes, and for collection and display only. They are not intended for use.

If you buy goods with electrical components and intend to use them, you must ask a qualified electrician to check them for compliance with safety regulations before you use them.

10. ENDANGERED SPECIES

If you intend to buy goods which contain endangered species, you need to find out if there is a prohibition on the purchase of goods of that character. For goods containing elephant ivory, you also need to satisfy yourself that they have been correctly registered or certified and meet

the exemption conditions under applicable legislation.

11. EXPORT OF GOODS

If you intend to export goods you must find out:

11.1whether an export licence is needed; and

11.2 if there is a prohibition on exporting goods of that character outside of the UK or on importing goods of that character in your

intended country of import such as because the goods contain prohibited materials such as elephant ivory or other protected flora and fauna.

12. BIDDING

Bidders will be required to register with us before the auction starts. We Reserve the right to impose a deadline prior to the auction by which you must register or by which we must receive a commission bid. If you wish to bid on high value Lots this deadline may be several days before the auction in order to allow us sufficient time to carry out the necessary checks. Lots will be invoiced to the name and address on the registration form. Please enquire in advance about our arrangements for telephone or online bidding. You will need to provide us with proof of your identity in a form acceptable to us and such other information as we may require. Please note that we may refuse to register you if you do not provide us with all the information and documentation that we ask for or at our discretion.

13. BIDDING PLATFORMS

We offer free online bidding directly through our Website (www.olympiaauctions.com). You may also bid using an independent Bidding Platform. Bidders using an independent Bidding Platform or service should note that the platform may impose an additional fee or charge, which will be added to the total amount payable in the event your bid is successful. Please refer to the terms and conditions on the relevant independent platform for rates.

 

14. FINANCIAL CHECKS

As Auctioneers we may have to conduct various checks into our customers under the Money Laundering Legislation, under sanctions legislation and other related legislation. Unless we confirm we already have this information, on registration to bid you will be required to provide the following:

(a) For individuals, official photo identification (driving licence, passport or equivalent) and proof of address (if this is not included in your

ID document).

(b) For corporate entities, the certificate of incorporation (or equivalent) with the entity’s official name, registered number (if any) and registered address, as well as details and ID documentation for directors and beneficial owners of the entity.

(c) For trusts and estates, details and ID documentation for executors/trustees and details of beneficiaries: please contact us for further information.

14.1 You may be asked for further information if we deem this necessary.

14.2 If you are bidding for another person (your Principal) you will be required to provide the above information for yourself and your Principal, along with a signed letter from your Principal authorising you to bid on his/her behalf.

14.3 If you require further information about ID requirements, please contact enquiries@olympiaauctions.com. If we deem that you have not provided sufficient information for us to complete our anti-money laundering, terrorist financing and sanctions checks to our satisfaction, we may refuse to register you to bid and we may postpone completion of or cancel any Contract made by you and the Seller in the event you have made a successful bid.

15. COMMISSION BIDDING

You may leave commission bids with us indicating the maximum amount to be bid against a Lot (excluding the Buyer’s Premium and/or any applicable VAT). We will execute commission bids as cheaply as possible having regard to the Reserve (if any) and competing bids. If two Buyers submit identical commission bids, we may prefer the first bid received (where this can be reasonably ascertained). Please enquire in advance about our arrangements for the leaving of commission bids by telephone or fax/email or via our Website or online Bidding Platform.

16. METHODS OF PAYMENT

16.1 Online: Payment can be made at www.OlympiaAuctions.com/payments. 

16.2 Cheque: Usually any cheques will need to be cleared before you can take the goods away. We require seven days to clear sterling cheques unless special arrangements have been made in advance of the sale.

16.3 Bank Transfer: Payments must be received from a bank account held in the name of the person or entity named on the invoice for the Lot.

16.4 Cash: £6,000 and “card holder not present” payments above £2,000 cannot be accepted.

16.5 Credit Card payments in person: Payments above £6,000 cannot be accepted.

16.6 Debit Card payments in person: Payments are without limit.

17. COLLECTION AND STORAGE

Please note what the applicable Terms of Sale say about collection and storage (see Clause 13 of the Terms of Sale for Live Auctions and Clause 15 of the Terms of Sale for Online Auctions). It is important that you pay for and collect goods promptly. Any delay may involve you having to pay storage charges. You (or your agent) must bring photographic ID for collection. Please note that collection may be made during working hours only, usually Monday to Friday 09:30 to 17:00.

18. POTENTIAL CANCELLATION RIGHTS

If you purchase a Lot in an Online Auction as a Consumer in the UK or EU from a Seller who is a Trader, you may have a right to cancel your purchase of that Lot from the day of the auction up to the day which is 14 days after the date on which you take possession of the Lot. You may also have the right to cancel Services provided by us. Further information is set out in the Terms of Sale for Online Auctions.

 

 

SECTION B: CATALOGUING PRACTICE

1.

Please note that all measurements are approximate and that illustrations are not to scale. The condition of a Lot is not usually included in catalogue descriptions, and no assumptions should be made in the absence of this information. Condition reports are available on request.

2. CERAMICS

Obvious faults may be recorded in italics at the end of a description for ceramics.

3. CLOCKS AND WATCHES

All Lots are sold “as is” and the absence of any reference to the condition of a clock or watch does not imply that the Lot is in good condition

and without defects, repairs or restorations. Most clocks and watches have been repaired in the course of their normal lifetime and may now incorporate parts not original to them. Furthermore, we make no representation or warranty that any clock or watch is in working order.

As clocks and watches often contain fine and complex mechanisms, the Bidder should be aware that a general service, change of battery or further repair work, for which the Buyer is solely responsible, may be necessary. The Bidder should be aware that the importation of watches such as Rolex, Frank Muller and Corum into the United States is highly restricted. These watches may not be shipped to the USA and can only

be imported personally.

4. DISPLAY ACCESSORIES

Please note that armour stands and many of the display mounts used in the catalogue(s) and the sale exhibition(s) do not form part of the Lot unless stated in the catalogue, though they may be made available to the successful Buyer of the relevant Lot(s). Please contact us for prices and further details.

5. FIREARMS

Please note that all bore sizes are approximate.

6. JEWELLERY

It is common practice for many gemstones to be treated by a variety of methods to enhance their appearance and the international jewellery trade has generally accepted these methods. Although heat enhancement of colour is usually permanent, in some cases this could affect the durability of a gemstone. Oiled gemstones may need re-oiling after a certain period. If no gemmological report is published in the catalogue, prospective Buyers should be aware that the gemstones or pearls could have been enhanced by some method.

7. PHOTOGRAPHS

In addition to the explanations set out below regarding categorising terms for works, please note the following. The date given is that of the image (negative). Where no further date is given, this indicates that the photographic print is vintage (the term “vintage” may also be included in the Lot description). A vintage photograph is one which was made within approximately 5–10 years of the negative. Where a second, later date appears, this refers to the date of printing. Where the exact printing date is not known, but understood to be printed later, “printed later” will appear in the Lot description.

Unless otherwise specified, dimensions given are those of the piece of paper on which the image is printed, including any margins. Some photographs may appear in the catalogue without the margins illustrated.

All photographs are sold unframed unless stated otherwise in the Lot description.

8. PICTURES

A work catalogued with the name(s) or recognised designation of an artist, without any qualification, is, in our opinion, a work by the artist. In other cases, the following expressions with the following meanings are used:

(a) “Attributed to”: means in our opinion it is probably a work by the artist in whole or in part.

(b) “Studio of” or “workshop of”: means in our opinion a work executed in the studio or workshop of the artist, possibly under his supervision.

(c) “Circle of”: means in our opinion a work of the period of the artist and showing his influence.

(d) “Follower of”: means in our opinion a work executed in the artist's style but not necessarily by a pupil.

(e) “Manner of”: means in our opinion a work executed in the artist's style but of a later date.

(f) “After”: means in our opinion a copy (of any date) of a work of the artist.

(g) “Signed”, “dated”, “inscribed”: means in our opinion the work has been signed, dated or inscribed by the artist. The addition of a question mark (?) adds an element of doubt.

(h) “Bears signature”, “bears date”, “bears inscription”: means in our opinion the signature, date, inscription or stamp is by a hand other than that of the artist.

9. SILVER, GOLD AND PRECIOUS METALS

Weights may only be accurate to within 5 grams. Weights shown as “(* oz)” are in troy ounces and usually rounded down to the full ounce.

10. THE FOLLOWING SYMBOLS MAY BE USED IN OUR AUCTION CATALOGUES

(a) (□) indicates a Lot with no Reserve.

(b) (✧) indicates a “Premium Lot”. For Premium Lots, you must complete the required Premium Lot preregistration application and deliver to us such necessary financial references, guarantees, deposits and/or such other security as we may in our absolute discretion require, as security for your bid. Our decision as to whether to accept any pre-registration application shall be final.

(c) (◉) indicates items that have been identified at the time of cataloguing as containing organic material which may be subject to restrictions regarding import or export. The absence of the symbol is not a warranty that there are no restrictions regarding import or export of the

item. We accept no liability for any Lots which may be subject to restrictions but have not been identified as such. Please refer to section A, paragraph 10 above.

(d) (⊕) indicates a Lot that may be subject to Artist’s Resale Right.

(e) (○) indicates “Guaranteed Property”. The seller of lots with this symbol has been guaranteed a minimum price from one auction or a series of auctions. This guarantee may be provided by Olympia Auctions or jointly by Olympia Auctions and a third party. Olympia Auctions and any third parties providing a guarantee jointly with Olympia Auctions benefit financially if a guaranteed lot is sold successfully and may incur a loss if the sale is not successful. A third party providing a guarantee jointly with Olympia Auctions may provide an irrevocable bid, or otherwise bid, on the guaranteed property. If the Guaranteed Property symbol for a lot is not included in the printed or pdf auction catalogue (where applicable), then Olympia Auctions will notify bidders that there is a guarantee on the lot by one or more of the following means: the lot’s specific webpage will be updated to include the guaranteed property symbol, a notice will be added to the Olympia Auctions webpage for the auction, or a pre-sale or pre-lot announcement will be made indicating that there is a guarantee on the lot. If every lot in a sale is guaranteed, a Special Notice will be included to this effect and this symbol will not be used for each lot.

(f) (∏) indicates “Monumental”. Lots with this symbol may, in our opinion, require special handling or shipping services due to size or

other physical considerations. Buyers are advised to inspect the lot and to contact Olympia Auctions prior to the sale to discuss any specific shipping requirements.

(g) (W) indicates property stored and to be collected from off-site storage. Please note that property can only be released once payment has been received in full and cleared funds. If you are sending your own authorised agent to collect property from Olympia Auctions on your behalf, please provide a letter of authorisation, a copy of your paid invoice and photographic ID.

(h) (#) Book sales. Although these items are not free from VAT, Olympia Auctions is able to use the margin scheme and VAT will not normally be charged on the hammer price. Olympia Auctions must bear VAT on the buyer’s premium and hence will charge an amount in lieu of VAT at the standard rate on this premium. This amount will form part of the buyer’s premium on our invoice and will not be separately identified.

TERMS OF SALE FOR LIVE AUCTIONS

The sale of goods at our Live Auctions (as defined below) and your legal relationship, as Bidder and/or Buyer, with us and the Seller are governed by these Terms of Sale for Live Auctions, our Privacy Policy, the Important Information for Buyers and any notices displayed in the saleroom or announced by us at the auction (collectively, the “Terms and Conditions of Business”). These Terms of Sale for Live Auctions are available on our Website and at our saleroom on request.

Please read these Terms of Sale for Live Auctions carefully before bidding and contact us if you have any questions. Please note that if you (or another person acting on your behalf) register to bid and/or bid at auction, this signifies that you agree to be bound by and will comply with these Terms of Sale for Live Auctions. You may also be asked to accept any third party terms and conditions when bidding via an Independent Bidding Platform (as defined below).

Please note that these Terms of Sale for Live Auctions relate to auctions held at our premises only. We have separate terms for Online Auctions (as defined separately below).

1. DEFINITIONS AND INTERPRETATION

1.1 To make these Terms of Sale for Live Auctions easier to read, we have given the following words a specific meaning:

“Auctioneer” means Olympia Auctions Ltd, a company registered in England and Wales with registration number 07982062 and whose registered office is located at 25 Blythe Road, London W14 0PD or its authorised auctioneer, as appropriate. The term “Auctioneer” includes the Bidding Platform where appropriate;

“Art Market Participant” means an art market business registered with HMRC under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended);

“Bidder” means a person participating or planning to participate in bidding at our Live Auction;

“Bidding Platform” means the online bidding platform on which the Online Auction is operated by the Auctioneer, or by a third party service provider on the Auctioneer’s behalf;              

“Bidding Platform Fee” means the fee set out in the Important Information for Buyers;

“Business Day” means any day that is not a weekend or public holiday in England and the Auctioneer is open for business;

“Buyer” means the Bidder who makes the highest bid for a Lot accepted by the Auctioneer including a Buyer’s Principal when acting as agent;

“CITES Regulation” means the Convention on International Trade in Endangered Species of Wild Fauna and Flora;

“Contract” means the contract between the Seller and you referred to at Clause 3;

“Consumer” means an individual acting for purposes which are wholly or mainly outside that individual's trade, business, craft or profession;

“Deliberate Forgery” means:

(a) a copy or imitation made in our reasonable opinion with the intention of deceiving as to authorship, attribution, authenticity, origin, date, age, period, culture, provenance, source or material;

(b) described in the catalogue entry (as amended by any saleroom or Website notice) as being the work of a particular creator without qualification or any indication that there may be any uncertainty or conflict of opinion in relation to the work being such a copy or imitation; and

(c) which at the date of the auction or sale had a value materially less than it would have had if it had been as described;

“Estimate” means the price range within which, in our opinion, a Lot may reasonably be expected to sell. A reference to the “low Estimate” means the lower figure in such price range;

“Hammer Price” means the amount of the highest bid for a Lot (at or above any Reserve) accepted by the Auctioneer by the fall of the hammer;

“Independent Bidding Platform” means an online bidding platform or service that is independent from us and has an arrangement with us to permit a Bidder to review Lots and to bid in our auctions using their platform or service;

“Live Auction” means a public auction where members of the public are given the possibility of attending the sale in person;

“Lot(s)” means an item offered for sale or a group of items offered together;

“Money Laundering Legislation” means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended) and related legislation, together with any applicable terrorist financing and legislation on Restrictive Measures;

“Online Auction” means an auction held over the Website or any Independent Bidding Platform where members of the public are not given the possibility of attending the sale in person;

“Pledge” means any security or charge over the Lot in favour of ourselves or any third party;

“Principal” means a person or entity you are acting on behalf of for the purposes of the purchase of the Lot(s);

“Premium” means the fee in addition to the Hammer Price that we will charge you on your purchase of a Lot to be calculated as set out in

Clause 8.1.2;

“Recorded Delivery” means a method of delivery pursuant to which the sender receives a confirmation that a letter has been posted and a signature is obtained from the recipient as a record that it has been delivered;

“Reserve” means the minimum Hammer Price at which a Lot may be sold;

“Restrictive Measures” means economic or financial sanctions, export controls, embargoes or any other restriction on trade under the laws

of the European Union, the United Kingdom or the United States, or in the jurisdiction in which you, your Principal, or any agent acting for you does business;

“Sale Proceeds” means the net amount due to the Seller;

“Seller” means the person(s) who consigns Lots for sale at our Live Auctions;

“Tax” means any tax, levy, impost, duty or other charge or withholding of a similar nature in any jurisdiction (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same) and “Taxes” shall be construed accordingly;

“Terms of Consignment” means the terms on which we agree with Sellers to offer Lots for sale in our auctions as agent on their behalf;

“Terms of Sale for Live Auctions” means these terms of sale for Live Auctions, as amended or updated from time to time;

“Trader” means a person who is acting for purposes relating to that person's trade, business, craft or profession, whether acting personally or through another person acting in the trader’s name or on the trader’s behalf;

“Total Price” means the fee that we will charge you as set out at Clause 8;

“VAT” means Value Added Tax in the UK and any other Tax of a similar nature in any jurisdiction (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same) at the rate from time to time applicable; and

“Website” means the Auctioneer’s website.

1.2 In these Terms of Sale for Live Auctions, the words “you”, “yours”, etc. refer to you as the Buyer. The words “we”, “us”, “our” etc. refer to the Auctioneer. Any reference to a ‘Clause’ is to a clause of these Terms of Sale for Live Auctions unless stated otherwise. A reference to legislation or a legislative provision is a reference to it as amended, extended or re-enacted from time to time. We may change these Terms of Sale for Live Auctions from time to time, without notice to you.

2. INFORMATION THAT WE ARE REQUIRED TO GIVE TO CONSUMERS

2.1 A description of the main characteristics of each Lot as contained in the auction catalogue.

2.2 Our name, address and contact details as set out herein, in our auction catalogues and/or on our Website.

2.3 The price of the Lot and arrangements for payment as described in 8, 9, 12 and 13.

2.4 The arrangements for collection of the Lot as set out in Clauses 13 and 14.

2.5 Your right to return a Lot and receive a refund if the Lot is a Deliberate Forgery as set out in Clause 19.

2.6 We and Trader Sellers have a legal duty to supply any Lots to you in accordance with these Terms of Sale for Live Auctions.

2.7 If you have any complaints, please send them to us directly at the address set out on our Website.

2.8 We also refer you to your warranties as a Bidder and Buyer as set out in Clause 10.

3. THE CONTRACT BETWEEN YOU, US AND THE SELLER

3.1 Unless the Auctioneer is selling on its own behalf, the Auctioneer acts as agent for and on behalf of the Seller and the contract for sale is between the Buyer and the Seller.

3.2 Subject to the Auctioneer's discretion at Clause 5.2, the contract for sale of a Lot is formed on the fall of the hammer.

3.3 The contractual relationship between Bidders and Buyers, the Auctioneer and the Seller in relation to any Live Auction is governed by the Terms and Conditions of Business .

3.4 If you purchase an unsold Lot after an auction, the contract for sale is formed when the sale is agreed in writing and the Total Price of the Lot shall be as set out at Clause 8 except that any reference to Hammer Price shall be read as the agreed sale price. So far as appropriate, the remainder of these Terms of Sale for Live Auctions shall apply to the sale as they would to an auction sale.

3.5 You may directly enforce any terms in the Terms of Consignment against a Seller to the extent that you suffer damages and/or loss as a result of the Seller’s breach of the Terms of Consignment. As agent for the Seller, we will not have any responsibility for any default or breach of obligations by you or the Seller (unless we are the Seller of the Lot).

3.6 If you breach these Terms of Sale for Live Auctions, you may be responsible for damages and/or losses suffered by a Seller or us. If we are contacted by a Seller who wishes to bring a claim against you, we may at our discretion provide the Seller with information or assistance in relation to that claim.

3.7 In addition to any other rights we may have to cancel a contract for sale under these Terms of Sale for Live Auctions, we may delay completion of a sale, delay release of a Lot or cancel the sale of a Lot in the event:

3.7.1 you are in breach of your warranties in Clause 10; or

3.7.2 we have not completed our enquiries pursuant to the Money Laundering Legislation to our satisfaction; or

3.7.3 we have reason to believe that the transaction might be unlawful for any reason, or that the sale might put us under any civil or

criminal liability.

4. BIDDER REGISTRATION

4.1 You must register your details with us before bidding and provide us with any requested proof of identity, billing information and any further client due diligence information and documentation that we require, in a form acceptable to us. Further details are set out at Paragraph 1.14 of the Information for Buyers.

4.2 We reserve the right, where we deem we are so required for regulatory purposes, to reveal your identity and contact details (and those of your Principal) to the Seller. You must also satisfy any security arrangements we have in place before entering the auction room to view or bid on any Lot.

4.3 We may at our complete discretion refuse to register any Bidder, delay registration or disable a Bidder’s access to our Website/the Bidding Platform if we are not satisfied with the information or documentation provided or the Bidder’s creditworthiness, including if the Bidder has previously defaulted in paying for or collecting purchases in any of our auctions or at any other auction house.

4.4 If you are a returning Bidder, we may at our discretion require that you provide updated identity and other documentation before permitting you to bid in an auction.

4.5 We do not undertake to register any Bidder in time for any specific auction.

4.6 If you are bidding on behalf of another person, you will need to disclose such information in advance of the auction and that person may also need to complete our registration and client due diligence process and provide us with written authority to accept bids from you on his/her/its behalf. If we are not informed of these arrangements in advance of an auction or do not have clear written authority in place, you will be deemed to be bidding as principal for your own account.

4.7 If you intend to bid on a Lot using pre-approved financing by a third party lender, you must notify us at the time of registration or at the time of securing financing, obtain our agreement to the arrangements and provide any further information or documentation that we may require.

4.8         You may de-register at any time on request. This will leave any accrued rights and obligations unaffected.

5. BIDDING PROCEDURES

5.1 We strongly recommend that you attend the auction in person if possible. However, you may bid in any of the following ways following successful registration to bid:

5.1.1 in person;

5.1.2 by telephone, in which case you must make such arrangements at least 24 hours before the start of the auction;

5.1.3 via an Independent Bidding Platform; or

5.1.4 if you instruct us in writing, we may execute commission bids on your behalf. Neither we nor our employees or agents will be responsible for any failure to execute your commission bid. Where two or more commission bids are recorded at the same level, we have the right, at our sole discretion, to prefer one over any others, without providing any reasons.

5.2 The Bidder placing the highest bid for a Lot accepted by the Auctioneer on the fall of the hammer will be the successful Buyer at the Hammer Price and bound by the contract formed pursuant to Clause 3.2 and governed by the Terms and Conditions of Business, unless the Auctioneer  has for any reason at its/his/her option refused the bid, reopened the bidding and/or cancelled the sale and reoffered the Lot. Any dispute about a bid will be settled at our sole discretion, giving due consideration to any circumstances and acting reasonably. We may settle disputes at our discretion in any way we think fit including by reoffering the Lot and our decision will be final. If there is any discrepancy between our record of an auction and the information provided in any communication to you, our record will prevail.

5.3 We may withdraw a Lot at any time prior to or during the sale of a Lot or cancel an auction. We will not be liable to you for our decision to withdraw a Lot or cancel an auction.

5.4 All bidding will be in the currency of the sale location.

5.5 Bidders will be deemed to act as Principals (in other words, acting for their own account and not on behalf of someone else), even if the Bidder is acting as an agent for a third party.

5.6 We may bid on Lots on behalf of the Seller up to one bidding increment below the Reserve.

5.7 We may at our sole discretion refuse to accept any bid.

5.8 If you make a successful bid but in our opinion you do not satisfy our client due diligence requirements, including but not limited to, completing any checks required by Money Laundering Legislation and/or anti-terrorism financing checks to our satisfaction, we may cancel the contract for sale between you and the Seller. Upon notice of our election to cancel the contract for sale, you shall promptly return the Lot to us and we will then refund the Total Price paid to us. The refund shall constitute the sole remedy and recourse you may have against us and the Seller with respect to such a cancelled sale.

5.9 We do not accept responsibility for any bids missed by the Auctioneer.

5.10 Bidding increments will be at our sole discretion.

5.11 In the event you participate in the auction using the services of an Independent Bidding Platform, you will incur an additional fee or additional commission payable to that platform. This will be collected by us as part of the Total Amount Due in the event you are the Buyer of the Lot on which you bid.

6. INSPECTION OF LOTS

6.1 The Auctioneer provides descriptions, Estimates, illustrations and condition reports (on request) to assist Bidders in deciding whether to bid on a Lot but subject to Clause 18 accepts no responsibility for their accuracy.

6.2 Lots may be available for viewing on request in person at our premises or another location. Viewing information will be available on our Website and in the auction catalogue. Where a Lot is made available for inspection, we strongly recommend that you inspect any Lots that you are interested in prior to bidding at the auction. You are responsible for your decision to bid for a particular Lot and for undertaking your own due diligence in relation to the Lot. If you bid on a Lot, you will be deemed to have carefully inspected the Lot and satisfied yourself regarding its suitability, quality and condition.

7. ESTIMATES

Estimates are provided as a guide to what, in our opinion, the sale price of a Lot is reasonably likely to be. The Estimate is not a guarantee of what the actual selling price or value may be and cannot be relied on as such. The Estimate does not take into account Premium, VAT or any other applicable charges.

8. OUR CHARGES

8.1 As Buyer, you will pay:

8.1.1 the Hammer Price;

8.1.2 a Premium of 25% of the Hammer Price;

8.1.3 any artist’s resale right royalty identified as payable on the sale of the Lot (as set out at Clause 11);

8.1.4 any Bidding Platform Fee;

8.1.5 any VAT or other duties, fees or Taxes applicable to the Lot (as set out at Clause 9);

8.1.6 any additional charges payable by a late paying or defaulting Buyer under these Terms of Sale for Live Auctions.

9. VAT AND OTHER DUTIES

9.1 You shall be solely responsible for ascertaining the overall cost of your bid and paying any applicable VAT and other fees, Taxes or duties payable in addition to the Hammer Price and Premium (where applicable) due for a Lot. Please see the symbols used in the auction catalogue for that Lot and the “Information for Buyers” in our auction catalogue for further information.

9.2 We will charge VAT and other duties, fees and Taxes at the current rate at the date of the Live Auction.

9.3 For Lots sold under the rules for the Auctioneers’ Margin Scheme, VAT will be charged on the Premium at the standard rate. The VAT cannot be itemised separately on our invoices and is not reclaimable by UK VAT registered Sellers.

9.4 For Lots offered under the Temporary Admission VAT rules, the VAT may not be shown separately on our invoice because of Tax legislation. You may be eligible to have a VAT refund in certain circumstances if the Lot is exported.

10. BUYER WARRANTIES

10.1 You warrant to us, and where you are acting on behalf of someone else (your Principal), you will procure that your Principal warrants

to us, that:

10.1.1 any client due diligence information or documentation provided to us in accordance with Clause 4.3 is and continues to be true and accurate;

10.1.2 any bids you place, or which are placed on your behalf, are not part of any collusive or other anti-competitive arrangement and are not in breach of any applicable law;

10.1.3 the funds used for the purchase of the Lot(s) are not connected with nor are derived from any criminal activity, including without limitation Tax evasion, money laundering or terrorist financing and are not attributable, either directly or indirectly to an individual or entity that is subject to Restrictive Measures;

10.1.4 neither you, nor any agent acting for you, nor your Principal, are engaged in, or under investigation for, and have not been previously charged for or convicted of any offences in relation to, without limitation, Tax evasion, money laundering, terrorist financing, fraud or other criminal behaviour; and

10.1.5 you are not and have no reason to suspect that you, nor any agent acting for you, nor your Principal, nor the ultimate Buyer are subject to Restrictive Measures or owned, partly owned or controlled by person(s) subject to such Restrictive Measures.

10.2 Where you are bidding on a Lot on behalf of another person (your Principal) and you are an Art Market Participant, you warrant that:

10.2.1 you have conducted appropriate customer due diligence on your Principal in accordance with all applicable Money Laundering Legislation, have obtained and kept a record of documents required to establish your Principal's identity, and have no reason to suspect or believe that he/she/it is engaged in money laundering, terrorist financing, tax evasion, fraud or other criminal behaviour nor subject to Restrictive Measures;

10.2.2 upon request, you will provide us or any independent third party auditor (employed at our cost) with any identification and any other relevant documentation you have obtained for customer due diligence purposes on your Principal of the Lot;

10.2.3 you consent to us relying on this due diligence;

10.2.4 you will retain for a period of not less than five years the documentation evidencing the due diligence;

10.2.5 you have authority to bid on that Lot on behalf of your Principal; and

10.2.6 you have been placed in funds by your Principal to cover the Total Price and any additional fees and charges.

10.3 Where you are bidding on behalf of another person (your Principal) and you are not a regulated Art Market Participant, you warrant that:

10.3.1 you will provide accurate and complete information about your Principal to us;

10.3.2 you have authority to bid on that Lot on behalf of your Principal; and

10.3.3 you have been placed in funds by your Principal to cover the Total Price and any additional fees and charges.

11. ARTIST’S RESALE ROYALTY

11.1 Works by certain artists sold in certain countries are subject to royalty fees accruing to the artist or their estate. The fees are levied on a sliding scale relative to Hammer Price and capped at £12,500 per item. We will collect these fees from you on behalf of the artist.

11.2 If applicable, artist’s resale royalties (in Euros) are charged at:

11.2.1 4% of the Hammer Price up to £50,000;

11.2.2 3% of the Hammer Price from £50,000.01 to £200,000;

11.2.3 1% of the Hammer Price from £200,000.01 to £350,000;

11.2.4 0.5% of the Hammer Price from £350,000.01 to £500,000; and

11.2.5 0.25% of the Hammer Price above £500,000, subject to an overall cap of £12,500.

12. PAYMENT

12.1 Following your successful bid on a Lot you will:

121.1.1 immediately give to us, if not already provided to our satisfaction, any further proof of identity or source of funds, or client due diligence documentation, in a form acceptable to us (and any other information that we require in order to comply with our anti-money laundering obligations – please refer to Paragraph 15 of the Information for Buyers in the auction catalogue); and

12.1.2 unless we have agreed otherwise and subject to the terms of any Pledge, pay to us the Total Price within 3 Business Days of the date of the auction in cleared funds in GBP Sterling in any way that we agree to accept payment including in cash (for which there is an aggregate upper limit of £6,000 for all purchases made in auction). Please see the Important Information for Buyers for further information about how to make a payment.

12.2 If payment is late, we reserve the right to charge interest on the Total Price or any part thereof in accordance with Clause 14.1.5.

12.3 If you owe us any money, we may use any payment made by you to repay the money you owe us before applying such monies towards your purchase of the Lot(s).

12.4 All Lots sold will be invoiced in the name of the registered Bidder at the address given to us at the time of registration and cannot be transferred to other names or addresses.

13. TITLE AND COLLECTION OF LOTS

13.1 While you are bound by the contract for the purchase of the Lot from the fall of the hammer on your successful bid, the transaction is not completed and ownership in the Lot will not pass to you until:

13.1.1 we receive the Total Price in full and cleared funds for that Lot;

13.1.2 you have provided us with the information set out in Clause 4 and provided your continuing compliance with Clause 10; and

13.1.3 we have completed our enquiries pursuant to the Money Laundering Legislation to our satisfaction.

13.2 You may not claim or collect a Lot until:

13.2.1 you have paid for it;

13.2.2 ownership has passed to you; and

13.2.3 any applicable storage charge applicable under Clause 13.7 and accrued up until the day of collection have been paid in full by you (at law, the right for a professional to hold on to goods until its services have been paid for is called a “lien”).

13.3 We may (i) refuse to accept payment, (ii) refuse to release the Lot or any other property to you, (iii) cancel the contract for sale between you and the Seller, or (iv) without any refunds to you would otherwise be entitled to if we require further information or verification and until we satisfy ourselves of the client due diligence and source of funds related to the transaction.

13.4 For any Lots stored at a third-party location and not available for collection from our premises, your provision to us of instructions authorising the release to you or your agent shall constitute collection by you.

13.5 If you have purchased a Lot using third party pre-approved financing, with our knowledge and agreement, and the Lot remains subject to a Pledge, we will hold the Lot until we receive confirmation from the beneficiary of the Pledge that we are authorised to release the Lot. In such cases, time starts to run under Clauses 13.6 and 13.7 below from the date that we inform you that the Lot can be released, rather than the date of the auction.

13.6 Unless notified otherwise, and subject to the passing of ownership in the Lot to you under Clause 13.1, you will (at your own expense) collect any Lots that you have purchased and paid for at such location as you are notified of either:

13.6.1 not later than 5 Business Days following the day of the auction; or

13.6.2 not later than 5 Business Days following the date that we have received payment of the Total Price in cleared funds, if later.

13.7 Subject to Clause 13.1 if you do not collect a Lot you have agreed to purchase within any of the time periods set out at Clause 13.6 above, we shall start charging a minimum warehousing charge of £10 per Lot per day plus any applicable VAT, starting from the latest of the time periods to the date of collection (inclusive). You will also be responsible for any reasonable removal, storage and insurance charges in relation to that Lot.

13.8 Risk of loss or damage to the Lot will pass to you at the fall of the Hammer or when you have otherwise purchased the Lot. Once risk passes to you, you irrevocably release us, our officers and employees, agents and the Seller from any and all claims, causes of action, liabilities, damages, losses and expenses (including but not limited to reasonable legal fees) for loss or damage to the Lot.

13.9 Subject to Clause 13.1, if you do not collect the Lot that you have paid for within 28 days of the date of the auction, we may sell the Lot by auction or private treaty with the Estimate and Reserve or purchase price, as applicable, set at our discretion. We will pay the proceeds of any such sale to you, but will deduct any storage charges or other sums that we have incurred in the storage and sale of the Lot and any other sums owed by us to you. We reserve the right to charge you a selling commission at our standard rates on any such resale of the Lot.

14. REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES

14.1 Please do not bid on a Lot if you do not intend to buy it. If your bid is successful, our Terms and Conditions of Business form your contract of purchase. This means that you will have to carry out your obligations set out in our Terms and Conditions of Business including these Terms of Sale for Live Auctions. If you do not comply with these Terms of Sale for Live Auctions we may (acting on behalf of the Seller and ourselves) pursue one or more of the following measures:

14.1.1 take legal action against you to recover the Total Price and/or pursue damages for breach of contract, including any fees, interest, legal expenses or other costs that we incur;

14.1.2 reverse the sale of the Lot to you and/or any other Lots sold by us to you (in which case we may charge you an administration fee of £150 plus VAT per Lot or, if lower, the Total Price of the Lot and retain any partial payment of the Total Price as liquidated damages);

14.1.3 cancel the sale of the Lot and resell it by auction or private treaty (in which case you will have to pay any difference between the Total Price for the Lot and the Hammer Price we sell it for as well as the charges, outlined in Clause 9 and any other costs and expenses or legal fees incurred by us in reselling the Lot or any loss to us of Seller’s commission. Please note that if we resell the Lot for a higher amount than the Hammer Price on the sale of the Lot to you, the additional sale proceeds will be paid to the Seller and we will retain any increase in Premium;

14.1.4 remove, store and insure the Lot at your sole risk and expense until you pay the Total Price together with any removal, storage and insurance fees as set out at Clause 13.7, or we agree alternative arrangements;

14.1.5 if you do not pay us within three Business Days of your successful bid, we may charge interest at a rate not exceeding 5% per annum above HSBC Bank plc base rate on the total amount due, or any part remaining unpaid;

14.1.6 assist the Seller in pursuing you for payment and/or damages including by revealing your identity and contact details;

14.1.7 keep the Lot, any other Lot sold to you, or any item(s) consigned for sale by you to us as security for payment until you pay the Total Price and at our discretion sell any of your property in our possession and apply the proceeds to the amount owed by you to us after deduction of the commission due to the Seller and any sale expenses including any applicable Taxes;

14.1.8 if you owe money to us we can apply any payments including deposits or part payments made by you towards part settlement of the Total Price due for the Lot or any other Lot purchased by you, or to any shortfall on the resale of any Lot pursuant to Clause 14.1.3 or to any outstanding sums owed by you to us including but not limited to any removal, storage or insurance charges in relation to any Lot that you have purchased or to any loss or damage suffered by us as a result of your failure to comply with these Terms of Sale for Live Auctions;

14.1.9 refuse to allow you to register to bid, reject or ignore bids from you or your agent at future auctions, suspend your ability to place bids on the Bidding Platform and/or impose conditions before we accept bids from you;

14.1.10 offset any amounts due from you against any amounts that we may owe you, including if we sell any Lots for you; and/or

14.1.11 take any other action we consider necessary.

15. HEALTH AND SAFETY

Although we take reasonable precautions regarding health and safety, you are on our premises at your own risk. Please note the lay-out of the premises and security arrangements. Neither we nor our employees or agents are responsible for the safety of you or your property when you visit our premises, unless you suffer any injury to your person or damage to your property as a result of our, our employees’ or our agents’ negligence.

16. EXPORT AND IMPORT RESTRICTIONS

16.1 Exporting a Lot out of the United Kingdom or importing it into another country may be subject to legal requirements and restrictions depending on factors such as the type of goods, their age and monetary value and destination. It is solely your responsibility to ascertain what

the requirements are in relation to any Lot and obtain the necessary endangered species licenses or permits or export or import licence

where applicable.

16.2 Lots made of restricted organic matter or endangered species are identified in the catalogue. These may be subject to prohibitions on export or import pursuant to the CITES Regulation and otherwise may require licences. Subject to Clause 18.7, you are solely responsible for identifying and obtaining any necessary licence. The information provided in our catalogue reflects our reasonable opinion at the date of publication but is intended as guidance only and neither the Auctioneer nor the Seller make any representation or give any warranty as to whether any Lot is subject to a prohibition or restriction on export or import.

16.3 You acknowledge that your purchase of the Lot and fulfilment of your obligations under the Terms and Conditions of Business is not conditional on successfully obtaining an export, import or other licence or permit for any Lot and that you will pay for and collect the Lot regardless of whether a licence has been or is likely to be granted. We will not cancel your purchase of a Lot if for any reason it is refused a licence or is seized or confiscated by government authorities.

16.4 We may on request assist you with applying for a licence to export your Lot(s) out of the United Kingdom and will charge a fee for doing so to cover the costs of our time and out of pocket expenses.

17 SELLER’S WARRANTIES

17.1 The Seller warrants to us and to you in relation to each Lot that:

17.1.1 the Seller is the true owner of the Lot for sale or a joint owner of the Lot acting with the co-owner's consent or, if acting on the owner's behalf, is authorised by the true owner to offer and sell the Lot at auction;

17.1.2 the Seller is able to transfer clear and unencumbered legal title to the Lot, subject to any restrictions set out in the Lot description, to you free from any third party rights or claims;

17.1.3 as far as the Seller is aware, the main characteristics of the Lot set out in the auction catalogue (as amended by any notice displayed in the saleroom or on any Independent Bidding Platform, or announced by the Auctioneer at the auction), and any documentation provided to you by the Seller in relation to the Lot, are correct.

17.2 If, after you have placed a successful bid and paid for a Lot, any of the warranties above are found not to be true, please notify us in writing. Neither we nor the Seller will be liable, under any circumstances, to pay you any sums over and above the Total Price and we will not be responsible for any inaccuracies in the information provided by the Seller except as set out below.

17.3 If you purchase a Lot as a Consumer from a Seller that is a Trader, a number of additional terms may be implied by law in addition to the Seller’s warranties set out at Clause 17.1 (in particular under the Consumer Rights Act 2015). These Terms of Sale for Live Auctions do not seek to exclude your rights under law as they relate to the sale of these Lots.

17.4 Save as expressly set out above, all other warranties, conditions or other terms which might have effect between the Seller and you, or us and you, or be implied or incorporated by statue, common law or otherwise are excluded to the fullest extent that they can be lawfully excluded.

18. DESCRIPTIONS, CONDITION AND SAFETY

18.1 Our descriptions of the Lot will be based on: (a) information provided to us by the Seller of the Lot (for which we are not liable); and

(b) our opinion (as set out at Clause 18.4) (although it is likely that we will not be able to carry out a detailed inspection of each Lot).

18.2 Any photographs that we provide are for identification purposes only and may not reveal a Lot's condition or be accurate in colour or other features. The actual colour of the Lot may vary from the images in the auction catalogue.

18.3 On request, we will give you the opportunity to view and inspect the Lots before the auction. You (including any agents or independent consultants acting on your behalf) must satisfy yourself about the accuracy of any description of a Lot and of any other characteristics of a Lot relevant to your decision to place a bid. We shall not be responsible for any failure by you or your agent or consultants to properly inspect a Lot.

18.4 Certain words used in the catalogue description have special meanings. You can find details of these in the Important Information for Buyers which form part of the Terms and Conditions of Business. Any description and/or statements by us about any Lot, including but not limited to its authorship, attribution, authenticity, origin, date, age, period, culture, provenance, source, material, dimensions, condition or estimated selling price, whether oral or in writing, are matters of our opinion genuinely held but are not to be relied on as a statement of fact or contractual representation. We do not warrant that we have carried out a detailed inspection of each Lot. Any references to dimensions or weight are approximate only.

18.5 Please note that of the majority of Lots sold by the Auctioneer are second-hand and are unlikely to be in perfect condition. Lots are sold

“as is” (i.e. as you see them at the time of the auction). Neither we nor the Seller accept any liability for the condition of any Lot.

18.6 The sale of Lots containing elephant ivory is banned, subject to exceptions. Please note that we may offer Lots containing elephant ivory from time to time. Subject to Clause 18.7, where this is the case, we rely on the documentation obtained by the Seller of the Lot confirming that the Lot satisfies the relevant exemptions. Therefore, we cannot guarantee that any certificate or other documentation provided by us (on the Seller’s behalf) to you in connection with the sale of the Lot is valid or accurate.

18.7 From time to time and only upon request, we may apply for the relevant certificates, registrations or other documentation required pursuant to the CITES Regulation. In the event that we do apply for such documentation on your behalf, we guarantee that is valid and accurate.

18.8 All Lots with electrical components are sold as “antiques” for their historical and decorative attributes for collection and display only, and are not intended for use. If you buy Lots with electrical components and intend to use them, you must first ask a qualified electrician to check them for compliance with safety regulations.

18.9 All Lots of furniture are sold as a collector’s item for display purposes and are not supplied for use. Such Lots may not comply with applicable furniture and safety regulations. Therefore, if you do intend to use such Lots for private use or otherwise, you must first ensure that they are refurbished and rendered compliant with any applicable furniture and safety regulations.

19. DELIBERATE FORGERIES

19.1 You may return any Lot which is found to be a Deliberate Forgery to us within twelve months of the date of the Live Auction provided that you return the Lot to us at your expense in the same condition as when it was released to you, accompanied by a written report by two recognised experts approved in advance by us on the subject matter identifying the Lot as a Deliberate Forgery with reference to the catalogue description and fully explaining the reasoning behind any conclusions drawn in the report. We shall not be bound by any expert report produced by you and reserve the right to consult our own experts at our expense.

19.2 If we are satisfied, acting reasonably, that the Lot is a Deliberate Forgery and it has been returned to us within the time specified in Clause 19.1, we will cancel the sale of the Lot and we will refund the Total Price to you for the Lot (including any Premium and applicable VAT) to you provided that you will have no right to a refund under this Clause 19.2 if any of the following circumstances apply:

19.2.1 the catalogue description reflected the accepted view of experts, specialists or scholars as at the date of the Live Auction;

19.2.2 the catalogue description reflected that there is a conflict of expert opinion on the authorship of the Lot;

19.2.3 the Lot can only be shown to be a Deliberate Forgery on the basis of scientific examination which was not available at the time of the auction or in the circumstances was not practicable or reasonable to expect;

19.2.4 there has not been a material loss in value from the value of the Lot had it been described differently in the heading of the catalogue entry;

19.2.5 you were not the original Buyer (i.e. the registered Bidder) of the Lot named on the invoice for the Lot issued at the time of the sale; or

19.2.6 you personally are not able to transfer clear legal title in and any right to possession of the Lot to us, free of any claim, interest or restriction by anyone else, on the date of the return of the Lot to us.

19.3 If you have sold the Lot to another person, we will only be liable to refund the Total Price. We will not be responsible for repaying any additional money you may have made from selling the Lot. The rights under this Clause 19 are given to you as Buyer in our auction; they are not given to, and may not be transferred or assigned to, any third party.

19.4 In the event that we cancel the sale and refund the Total Price to you, such refund shall constitute the sole remedy and recourse you may have against us and/or the Seller with respect to such cancelled sale. We and the Seller will not in any circumstances be liable to you for any loss, damage, expense, costs, loss of profit, loss of business or loss of opportunity.

19.5 Your right to return a Lot that is a Deliberate Forgery does not affect your legal rights and is in addition to any other right or remedy provided by law or by these Terms of Sale for Live Auctions.

20. OUR DISCLAIMER AND LIMITATION OF OUR LIABILITY TO YOU

20.1 The Website and the Bidding Platform are provided by us or our service providers without any warranties or guarantees in relation to any statements or representations made or information given in connection with the conduct of the auction or for any other matter relating to the sale of any Lot by us, or our employees or agents whether oral or in writing and accept no liability in connection therewith, including in relation to any errors (human or otherwise) or omissions unless Clause 19 applies. All users of our Website and/or the Bidding Platform bear the risks associated with the use of the internet. Both our Website and the Bidding Platform provide content from users, internet sites or resources. While we try to ensure that material included on our Website and/or the Bidding Platform is correct, reputable and of high quality, we are not responsible if this is not the case. Except as expressly set out herein, we will not be responsible for any errors or omissions or for the results obtained from the use of such information or for any technical problems users may experience with the Website and/or the Bidding Platform or participating in any Live Auction, including but not limited to any loss of internet connection, problems with using any bidding software or hardware faults. We do not accept any liability for any delay or failure in placing a bid, any failure to execute bids or any errors or omissions owing to technical failings, whether on our part or yours. If we are informed of any inaccuracies in the material on our Website or the Bidding Platform we will attempt to correct the inaccuracies or ask our service providers to do so as soon as we reasonably can.

20.2 You acknowledge that the Website and the Bidding Platform are provided as is for public use, subject to registration. Registration is free of charge and as such we have no responsibility to users of our Website and/or the Bidding Platform for any downtime or errors on our Website or the Bidding Platform. If, because of errors on our Website and/or the Bidding Platform an auction cannot be completed, our only responsibility to you is to enable Sellers to re-list the Lot(s) once our Website and/or the Bidding Platform is back up. In particular, we will not be liable for any loss of opportunity or disappointment suffered as a result of participating in our Live Auction.

20.3 We accept no liability in relation to any of the Seller’s warranties at Clause 17, including any warranty of satisfactory quality and fitness for purpose, description, size, quality, condition, attribution, authenticity, rarity, importance, completeness, value, frame, medium, provenance, exhibition history, literature, or historical relevance or any breach by the Seller of their obligations under our Terms of Consignment. Unless Clause 19 applies, all warranties express or implied are specifically excluded by us to the fullest extent permitted by law.

20.4 We accept no liability for damage to gilded picture frames, plaster picture frames or picture frame glass.

20.5 We do not accept any liability to any Bidders for any failure to register a Bidder or any acts or omissions in relation to the sale of Lots and the conduct of our auctions and will not be liable for any loss, damage, expense, costs, loss of profit, loss of business, loss of opportunity or disappointment as a result of participating in our auctions.

20.6 Subject to Clause 20.10 below, if we are found to be liable to you for any reason (including, amongst others, if we are found to be negligent, in breach of contract or to have made a misrepresentation), our total liability will be limited to the Total Price as paid by you to us for any Lot. We will not be responsible to you for any loss, damage, expense, costs, loss of profit, loss of business or lost of opportunity. We have no responsibility to any person other than you in connection with the purchase of any Lot.

20.7 Neither we, nor the Seller shall be responsible to you and you shall not be responsible to the Seller or us for any failure to meet any obligations which we, you or the Seller has under the Terms and Conditions of Business which is caused by circumstances beyond our, your or the Seller’s reasonable control. This includes but is not limited to strikes, lock-outs, fire, flood, natural disasters, war, armed conflict, terrorist attack, nuclear and chemical contamination, epidemic and pandemic.

20.8 You should note that Lots are sold as antiques for their decorative attributes rather than for use, and are often of considerable age and uncertain manufacture; neither we nor the Seller accepts any liability for loss or damage to the Lots, or any other loss or damage, that is caused by or results from any inherent vice or defect affecting the Lots.

20.9 In addition to the above, neither we nor the Seller shall be responsible to you and you shall not be responsible to the Seller or us for

any other loss or damage that any of us suffer that is not a foreseeable result of any of us not complying with the Terms and Conditions of Business. Loss or damage is foreseeable if it is obvious that it will happen or if at the time of the sale of the Lot, we, you and the Seller knew it might happen.

20.10 Notwithstanding the above, nothing in these Terms of Sale for Live Auctions shall limit our liability (or that of our employees or agents) for:

20.10.1 death or personal injury resulting from negligence (as defined in the Unfair Contract Terms Act 1977);

20.10.2 fraudulent misrepresentation; or

20.10.3 any liability which cannot be excluded by law.

21. NOTICES

21.1 All notices or other communications between you and us regarding these Terms of Sale for Live Auctions must be in writing and signed by or on behalf of the party giving it.

21.2 Any notice referred in Clause 21.1 may be given:

21.2.1 by delivering it by hand;

21.2.2 by first class pre-paid post or Recorded Delivery; or

21.2.3 by email, provided that a copy is also sent by first class pre-paid post or Recorded Delivery. A notice given by email will be deemed to be signed for the purposes of this Clause 21.2 if the name of the sender appears in a signature position after the body of the email and has not been added automatically by the sender’s email server.

21.3 Notices must be sent:

21.3.1 by hand, by first class pre-paid post or Recorded Delivery:

(a) to us, at our address set out in these Terms of Sale for Live Auctions or at our registered office address appearing on our Website; and

(b) to you, at the last postal address that you have given to us as your contact address in writing.

21.3.2 by email:

(a) to us, by sending the notice to the following email address: enquiries@olympiaauctions.com, marked for the attention of the

Sale Administration Team

(b) to you, by sending the notice to any email address that you have given to us as your contact email address in writing.

21.4 Notices will be deemed to have been received:

21.4.1 if delivered by hand, on the day of delivery; or

21.4.2 if sent by first class pre-paid post or Recorded Delivery, two Business Days after posting, exclusive of the day of posting; or

21.4.3 if sent by email, at the time of transmission unless sent after 17.00 in the place of receipt in which case they will be deemed to have been received on the next Business Day in the place of receipt (provided that a copy has also been sent by pre-paid post or Recorded Delivery as set out in Clause 21.3.1.

21.5 Any notice or communication given under these Terms of Sale for Live Auctions will not be validly given if sent by fax, any form of messaging via social media or text message (including WhatsApp).

22. DATA PROTECTION

We will hold and process any personal data in relation to you in accordance with our current privacy policy, a copy of which is available on our Website.

23. GENERAL

23.1 We may, at our sole discretion, though acting reasonably, refuse any person admission to our premises or attendance at our Live Auctions.

23.2 We act as an agent for our Sellers. The rights we have to claim against you for breach of these Terms of Sale for Live Auctions or our Terms and Conditions of Business may be used by either us, our employees or agents, or the Seller, its employees or agents, as appropriate. Other than as set out in this Clause, these Terms of Sale for Live Auctions are between you and us and no other person will have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any of their terms.

23.3 The Terms and Conditions of Business shall be binding on the parties' respective heirs, beneficiaries, executors, successors and assigns, but neither party may assign the contract between us without the prior written consent of the other party.

23.4 We may use special terms in the catalogue descriptions of particular Lots. You must read these terms carefully along with any glossary provided in our auction catalogues.

23.5 Each of the Clauses of these Terms of Sale for Live Auctions operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining Clauses will remain in full force and effect.

23.6 We may change these Terms of Sale for Live Auctions from time to time, without notice to you. Please read these Terms of Sale for Live Auctions carefully, as they may be different from the last time you read them.

23.7 Except as otherwise stated in these Terms of Sale for Live Auctions, each of our rights and remedies are: (a) are in addition to and not exclusive of any other rights or remedies under these Terms of Sale for Live Auctions or general law; and (b) may be waived only in writing and specifically. Our delay in exercising or non-exercise of any right under these Terms of Sale for Live Auctions is not a waiver of that or any other right. Our partial exercise of any right under these Terms of Sale for Live Auctions will not preclude any further or other exercise of that right or any other right under these Terms of Sale for Live Auctions. Our waiver of a breach of any term of these Terms of Sale for Live Auctions will not operate as a waiver of breach of any other term or any subsequent breach of that term.

23.8 The Terms and Conditions of Business and any dispute or claim arising out of or in connection with them (including any non-contractual claims or disputes) shall be governed by and construed in accordance with the laws of England and Wales and the parties irrevocably submit to the exclusive jurisdiction of the English courts.

TERMS OF SALE FOR ONLINE AUCTIONS

The sale of goods at our Online Auctions (as defined below) and your relationship as Buyer/Bidder with us and the Seller are governed by these Terms of Sale for Online Auctions, our Privacy Notice, the Important Information for Buyers and, in relation to specific lots, any notices that are displayed on the Listing for that Lot at the time of the auction (collectively, the “Terms and Conditions of Business”). These Terms of Sale for Online Auctions are available on our Website.

Please read these Terms of Sale for Online Auctions carefully before bidding and contact us if you have any questions. Please note that if you (or another person acting on your behalf) register to bid and/or bid at auction this signifies that you agree to be bound by and will comply with these Terms of Sale for Online Auctions. You may also be asked to accept any third party terms and conditions when bidding via an independent bidding platform (as defined below).

Please note that these Terms of Sale for Online Auctions relate to auctions held online only. We have separate terms for auctions held

at our premises.

1. DEFINITIONS AND INTERPRETATION

1.1 To make these Terms of Sale for Online Auctions easier to read, we have given the following words a specific meaning:

“Auctioneer” means Olympia Auctions Ltd, a company registered in England and Wales with registration number 07982062 and whose registered office is located at 25 Blythe Road, London W14 0PD or its authorised auctioneer, as appropriate. The term “Auctioneer” includes the Bidding Platform where appropriate;

“Art Market Participant” means an art market business registered with HMRC under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended);

“Bidder” means a person participating or planning to participate in bidding at our Online Auction;

“Bidding Platform” means the online bidding platform on which the Online Auction is operated by the Auctioneer, or by a third party service provider on the Auctioneer’s behalf;              

“Bidding Platform Fee” means the fee set out in the Important Information for Buyers;

“Business Day” means any day that is not a weekend or public holiday in England and the Auctioneer is open for business;

“Buyer” means the Bidder who makes the highest bid for a Lot accepted by the Auctioneer, including a Buyer’s Principal when acting as agent;

“CITES Regulation” means the Convention on International Trade in Endangered Species of Wild Fauna and Flora;

“Contract” means the contract between the Seller and you referred to at Clause 12;

“Consumer” means an individual acting for purposes which are wholly or mainly outside that individual’s trade, business, craft or profession;

“Consumer Rights Directive” means the EU Consumer Rights Directive and any implementing legislation;

“Deliberate Forgery” means:

(a) a copy or imitation made in our reasonable opinion with the intention of deceiving as to authorship, attribution, authenticity, origin, date, age, period, culture, provenance, source or material;

(b) described in the catalogue entry (as amended by any saleroom or Website notice) as being the work of a particular creator without qualification or any indication that there may be any uncertainty or conflict of opinion in relation to the work being such a copy or imitation; and

(c) which at the date of the auction or sale had a value materially less than it would have had if it had been as described;

“Estimate” means the price range within which, in our opinion, a Lot may reasonably be expected to sell. A reference to the low Estimate means the lower price in such price range;

“Hammer Price” means the level of the highest executed bid for a Lot (at or above any Reserve) when the Listing Period for the Lot ends;

“Listing” means a listing of a Lot for sale on the Website or Bidding Platform;

“Listing Period” means the period during which Bidders may place bids to purchase a Lot;

“Lot(s)” means an item offered for sale or a group of items offered together;

“Money Laundering Legislation” means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended) and related legislation, together with any applicable terrorist financing and legislation on Restrictive Measures;

“Online Auction” means an auction held over the Website or any Bidding Platform where members of the public are not given the possibility of attending the sale in person;

“Order Confirmation” means the email confirmation that we send to you to confirm that we have accepted your bid to purchase a Lot;

“Pledge” means any security or charge over the Lot in favour of ourselves or any third party;

“Principal” means a person or entity you are acting on behalf of for the purposes of the purchase of the Lot(s);

“Premium” means the fee in addition to the Hammer Price that we will charge you on your purchase of a Lot to be calculated as set out in Clause 8.1.2;

“Recorded Delivery” means a method of delivery pursuant to which the sender receives a confirmation that a letter has been posted and a signature is obtained from the recipient as a record that it has been delivered;

“Reserve” means the minimum Hammer Price at which a Lot may be sold;

“Restrictive Measures” means economic or financial sanctions, export controls, embargoes or any other restriction on trade under the laws of the European Union, the United Kingdom or the United States, or in the jurisdiction in which you, your Principal, or any agent acting for you does business;

“Sale Proceeds” means the net amount due to the Seller;

“Seller” means the person(s) or entity who consigns Lots for sale at our Online Auctions;

“Services” means the auction-related services that we agree to provide you, including the maintaining of the Website with descriptions of the Lot(s), the provision of a Bidding Platform, the coordination of your potential purchase via such online auction and/or storage and warehousing services;

“Tax” means any tax, levy, impost, duty or other charge or withholding of a similar nature in any jurisdiction (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same) and “Taxes” shall be construed accordingly;

“Terms of Consignment” means the terms on which we agree to offer Lots for sale as agent on behalf of Sellers;

“Terms of Sale for Online Auctions” means these terms of sale for online only auctions, as amended or updated from time

to time;

“Total Price” means the fee that we will charge you as set out at Clause 8;

“Trader” means a person who is acting for purposes relating to that person’s trade, business, craft or profession, whether acting personally or through another person acting in the trader’s name or on the trader’s behalf;

“VAT” means Value Added Tax in the UK and any other Tax of a similar nature in any jurisdiction (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same)  at the rate from time to time applicable; and

“Website” means the Auctioneer’s website. 

In these Terms of Sale for Online Auctions the words “you”, “yours”, etc. refer to you as the Buyer. The words “we”, “us”, “our” etc. refer to the Auctioneer. Any reference to a ‘Clause’ is to a clause of these Terms of Sale for Online Auctions unless stated otherwise. A reference to legislation or a legislative provision is a reference to it as amended, extended or re-enacted from time to time. We may change our Terms from time to time, without notice to you.

2. INFORMATION THAT WE ARE REQUIRED TO GIVE TO CONSUMERS

2.1 A description of the main characteristics of a Lot is contained in the Listing for that Lot. This description will also be contained in the Order Confirmation referred to in Clause 11.

2.2 A description of our Services, as set out in these Terms of Sale for Online Auctions.

2.3 Our name, address and contact details as set out herein and/or on our Website.

2.4 The technical means for concluding the contract to buy Lots are set out in Clause 4. If you have made a mistake in inputting information prior to submitting your bid, please click on the back arrow and you will be able to change it.

2.5 The price of the Lot and arrangements for payment as described in Clauses 8, 9, 11, 14 and the manner in which our storage charges (as part of the Services) are calculated (see Clause 15.6).

2.6 The arrangements for collection of the Lot as set out in the Order Confirmation and in Clauses 15 and 19.

2.7 Your right to cancel your purchase of a Lot and to receive a refund as set out in Clause 16 (provided you return the Lot to us at your own cost) and a copy of the Model Cancellation Form (see Clause 17.2).

2.8 Your right to cancel our Services as set out in Clause 18, a copy of the Model Cancellation Form (see Clause 17.2), information on your obligation to pay for Services supplied up to cancellation, and confirmation of the loss of the right to cancel if we have performed our Services in full.

2.9 Your right to return a Lot and receive a refund if the Lot is a Deliberate Forgery as set out in Clause 23.

2.10 We and Trader Sellers have a legal duty to supply any Lots to you in accordance with these Terms of Sale for Online Auctions.

2.11 We also refer you to your warranties as a Bidder and Buyer as set out in Clause 7.

2.12 If you have any complaints, please send them to us directly at the address set out on our Website.

3. BIDDER REGISTRATION

3.1 You must register your details with us and login to our Website/the Bidding Platform before bidding and provide us with any requested proof of identity, billing information and any further client due diligence information and documentation that we require, in a form acceptable to us (more details are set out at section A, paragraph 14 of the Information for Buyers).

3.2 We may at our complete discretion refuse to register any Bidder, delay registration or disable a Bidder’s access to our Website/the Bidding Platform if we are not satisfied with the information or documentation provided or the Bidder’s creditworthiness, including if the Bidder has previously defaulted in paying for or collecting purchases in any of our auctions, or at any other auction house.

3.3 We will send you confirmation by email that you have completed the registration process and have approval to bid in our auctions.

3.4 If you are a returning Bidder, we may at our discretion require that you provide updated identity and other documentation before permitting you to bid in an auction.

3.5 We do not undertake to register any Bidder in time for any specific auction. 

3.6 If you are bidding on behalf of another person, you will need to disclose such information in advance of the auction and that person may also need to complete our registration and client due diligence process and provide us with written authority to accept bids from you on his/her/its behalf. If we are not informed of these arrangements in advance of an auction or do not have clear written authority in place, you will be deemed to be bidding as principal for your own account.

3.7 If you intend to bid on a Lot using pre-approved financing by a third party lender, you must notify us at the time of registration or at the time of securing financing, obtain our agreement to the arrangements and provide any further information or documentation that we require.

3.8 You may de-register at any time on request. This will leave any accrued rights and obligations unaffected.

3.9 We reserve the right, where we deem we are so required for regulatory purposes, to reveal your identity and contact details (and those of your Principal) to the Seller. You must also satisfy any security arrangements we have in place before using our online auction room to bid on any Lot.

4. BIDDING PROCEDURES

4.1 Your contract with us for the Services will be formed when you register your details on our Website/the Bidding Platform, and we will send you a confirmation of the information listed in Clause 2 upon registration. You may register on our Website less than fourteen days before an online auction. By registering on our Website/the Bidding Platform, you acknowledge that you are asking us to start performing the Services before the end of the cancellation period (see Clause 18).

4.2 Bids can only be placed during the date and time period that bidding is open, which will be displayed on our Website. The Bidder placing the highest bid for a Lot accepted by the Auctioneer at the end of the Listing Period will be the Buyer at the Hammer Price and bound by the contract formed pursuant to Clause 12.2 and governed by the Terms and Conditions of Business, unless the Auctioneer has for any reason at its/his/her option refused the bid, reopened the bidding or cancelled the sale and reopened the Lot.

4.3 We may at our sole discretion and without any liability to you:

4.3.1 suspend your account at any time;

4.3.2 refuse to accept any bid;

4.3.3 reopen bidding after it has closed whether during or after the auction;

4.3.4 withdraw a Lot at any time prior to or during the sale of the Lot;

4.3.5 divide a Lot or combine one or more Lots; and/or

4.3.6 cancel a sale and re-offer a Lot.

4.4 We may withdraw a Lot at any time prior to or during the sale of the Lot or cancel an auction. We will not be liable to you for our decision to withdraw a Lot or cancel an auction.

4.5 A countdown timer is displayed for each Lot listed showing the time left before bidding closes on that Lot.

4.6 While bidding is active, the Bidder can enter a maximum bid at any time. The Bidder will be sent a confirmation email acknowledging the bid and confirming whether it is the winning bid at the time of submission. You will also receive notification by email if you have been outbid on a Lot.

4.7 Bids can be revised to the extent that they have not already been executed prior to the end of the Listing Period.

4.8 All bids have a time stamp and are prioritised strictly in the time order that they are received. If you wish to cancel a bid, please notify us in writing at enquiries@olympiaauctions.com. Any such notification must be submitted by no later than 48 hours before the end of the Listing Period.

4.9 All bidding will be in the currency of the sale location.

4.10 Bidders will be deemed to act as principals (in other words, acting for their own account and not on behalf of someone else), even if the Bidder is acting as an agent for a third party.

4.11 If you make a successful bid but in our opinion you do not satisfy our client due diligence requirements, including, but not limited to, completing any checks required by Money Laundering Legislation and/or anti-terrorism financing checks to our satisfaction, we may cancel the contract for sale between you and the Seller. Upon notice of our election to cancel the contract for sale, you must promptly return the Lot to us and we will then refund the Total Price paid to us. The refund shall constitute the sole remedy and recourse you may have against us and the Seller with respect to such cancelled sale.

4.12 Bidding increments will be at our sole discretion.

4.13 Any dispute about a bid will be settled at our sole discretion, giving due consideration to any circumstances and acting reasonably. We may settle disputes at our discretion in any way we think fit including by re-offering the Lot and our decision will be final. If there is any discrepancy between our record of an auction and the information provided in any communication to you, our record will prevail.

5. INSPECTION OF LOTS

5.1 The Auctioneer provides descriptions, Estimates, illustrations and condition reports (on request) to assist Bidders in deciding whether to bid on a Lot but subject to Clause 22 accepts no responsibility for their accuracy.

5.2 Lots may be available for viewing on request in person at our premises or another location. Viewing information will be available on our Website. Where a Lot is made available for inspection, we strongly recommend that you inspect any Lots that you are interested in prior to bidding at the auction. You are responsible for your decision to bid for a particular Lot and for undertaking your own due diligence in relation

to the Lot. If you bid on a Lot, you will be deemed to have carefully inspected the Lot and satisfied yourself regarding its suitability, quality

and condition.

6. ESTIMATES

Estimates are provided as a guide to what, in our opinion, the sale price of a Lot is reasonably likely to be. The Estimate is not a guarantee of what the actual selling price or value may be and cannot be relied on as such. The Estimate does not take into account Premium, VAT or any other applicable charges.

7. BUYER WARRANTIES

7.1 You warrant to us, and where you are acting on behalf of someone else (your Principal), you will procure that your Principal warrants to

us, that:

7.1.1 any client due diligence information or documentation provided to us in accordance with Clause 3.2 is and continues to be true

and accurate;

7.1.2 any bids you place, or which are placed on your behalf, are not part of any collusive or other anti-competitive arrangement and are not in breach of any applicable law;

7.1.3 the funds used for the purchase of the Lot(s) are not connected with nor are derived from any criminal activity, including without limitation Tax evasion, money laundering or terrorist financing and are not attributable, either directly or indirectly to an individual or entity that is subject to Restrictive Measures;

7.1.4 neither you, nor any agent acting for you, nor your Principal, are engaged in, or under investigation for, nor have you been previously charged with or convicted of any offences in relation to, without limitation, Tax evasion, money laundering, terrorist financing, fraud or other criminal activities; and

7.1.5 you are not and have no reason to suspect that you, nor any agent acting for you, nor your Principal, not the ultimate Buyer are subject to Restrictive Measures or owned, partly owned or controlled by person(s) subject to such Restrictive Measures.

7.2 Where you are bidding on behalf of another person (your Principal) and you are an Art Market Participant, you warrant that:

7.2.1 you have authority to bid on that Lot on behalf of your Principal;

7.2.2 you have been placed in funds by your Principal to cover the Total Price and any additional fees and charges;

7.2.3 you have conducted appropriate customer due diligence on your Principal in accordance with all applicable Money Laundering Legislation and have obtained and kept a record of documents required to establish your Principal’s identity and have no reason to suspect or believe that he/she/it is engaged in money laundering, terrorist financing, tax evasion, fraud or other criminal behaviour nor subject to Restrictive Measures;

7.2.4 upon request, you will provide us or any independent third party auditor (employed at our cost) with any identification and any other relevant documentation you have obtained for customer due diligence purposes on your Principal of the Lot;

7.2.5 you consent to us relying on this due diligence; and

7.2.6 you will retain for a period of not less than five years the documentation evidencing the due diligence.

7.3 Where you are acting on behalf of another person (your Principal) and you are not an Art Market Participant, you warrant that:

7.3.1 you will provide accurate and complete information about your Principal to us;

7.3.2 you have authority to bid on that Lot on behalf of your Principal; and

7.3.3 you have been placed in funds by your Principal to cover the Total Price and any additional fees and charges.

8. OUR CHARGES

8.1 As Buyer, you will pay us:

8.1.1 the Hammer Price;

8.1.2 a Premium of 25% of the Hammer Price;

8.1.3 any artist’s resale right royalty payable on the sale of the Lot (as set out at Clause 10); and

8.1.4 any VAT, import VAT or other duties, fees or Taxes applicable to the Lot (as set out at Clause 9);

8.1.5 any additional charges payable by a late paying or defaulting Buyer under these Terms of Sale for Online Auctions; and

8.1.6 any Bidding Platform Fee.

9. VAT AND OTHER DUTIES

9.1 You shall be solely responsible for ascertaining the overall cost of your bid and the payment of any applicable VAT and other fees, Taxes or duties payable in addition to the Hammer Price and Premium (where applicable) due for a Lot. Please see the symbols used in the online auction catalogue for that Lot and the Important information for Buyers for further information.

9.2 We will charge VAT and other duties, fees and Taxes at the current rate at the date of the Online Auction.

9.3 For Lots offered under the rules for the Auctioneers’ Margin Scheme, VAT at the standard rate will be charged on the Premium. This VAT cannot be itemised separately on our invoices and is not reclaimable by UK VAT registered Sellers.

9.4 For Lots offered under the Temporary Admission VAT rules, the VAT may not be shown separately on our invoices because of Tax legislation. You may be eligible to have a VAT refund in certain circumstances if the Lot is exported.

10. ARTIST’S RESALE ROYALTY

10.1 Works by certain artists sold in certain countries are subject to royalty fees accruing to the artist or their estate. The fees are levied on a sliding scale relative to Hammer Price and capped at £12,500 per item. We will collect these fees from you on behalf of the artist.

10.2 If applicable, artist’s resale royalties are charged at:

10.2.1 4% of the Hammer Price up to £50,000;

10.2.2 3% of the Hammer Price from £50,000.01 to £200,000;

10.2.3 1% of the Hammer Price from £200,000.01 to £350,000;

10.2.4 0.5% of the Hammer Price from £350,000.01 to £500,000; and

10.2.5 0.25% of the Hammer Price above £500,000, subject to an overall cap of £12,500.

11. ORDER CONFIRMATION PROCESS

11.1 Once we have received your successful bid on a Lot, an automated confirmation of receipt will be displayed on the online auction page of the Bidding Platform. Please note that this does not mean that your bid has been accepted or that a contract has been made. We will confirm acceptance of your bid to you by sending you an Order Confirmation by e-mail which confirms that we have accepted your bid and that the Lot will be ready for you to collect at the given location following our receipt of the Total Price from you in cleared funds. The contract between the Seller and you (the “Contract”) will only be formed when we send you the Order Confirmation.

11.2 The Order Confirmation will include the following information:

11.2.1 the description of the Lot that you have successfully bid for;

11.2.2 the Hammer Price for the Lot that you have successfully bid for plus the Premium and any applicable VAT or artist’s resale

right royalty;

11.2.3 confirmation of the arrangements for your payment for and collection of the Lot;

11.2.4 details of your right to cancel the Contract and a model cancellation form;

11.2.5 details of our legal duty to supply the Lot in conformity with these Terms of Sale for Online Auctions;

11.2.6 our identity, address and contact details (including our telephone number, fax number and e-mail address, where available), and how you can complain;

11.2.7 details of your right to return the Lot and receive a refund if the Lot is a Deliberate Forgery; and

11.2.8 a copy of the Terms of Sale for Online Auctions.

11.3 We reserve the right to cancel the Contract on behalf of the Seller in (amongst others) the following situations in this Clause 11.3 and

Clause 11.4, without being liable for any damage or costs:

11.3.1 your contact or billing information is not correct or not verifiable;

11.3.2 your bid is flagged up by our security systems as an unusual bid or a bid susceptible to fraud; or

11.3.3 your payment is not received within five Business Days of our acceptance of your bid.

11.4 In addition to any other rights we may have to cancel a contract for sale under these Terms of Sale for Online Auctions, we may delay completion of a sale, delay release of a Lot or cancel the sale of a Lot in the event:

11.4.1 you are in breach of your warranties in Clause 7; or

11.4.2we have not completed our enquiries pursuant to the Money Laundering Regulations and related legislation to our satisfaction; or

11.4.3 we have reason to believe that the transaction might be unlawful for any reason, or that the sale might put us under any civil or

criminal liability.

12. THE CONTRACT BETWEEN YOU, US AND THE SELLER

12.1 Unless the Auctioneer is selling on its own behalf, the Auctioneer acts as agent for and on behalf of the Seller and the contract for sale is between the Buyer and the Seller.

12.2 As set out at Clause 11 above, we will confirm acceptance of a successful bid for a Lot to you by sending you an Order Confirmation by

e-mail. The contract for the purchase of the Lot between you and the Seller will be formed when we send you the Order Confirmation.

12.3 The contractual relationship between Bidders or Buyers, the Auctioneer and the Seller in relation to any Online Auction is governed by the Terms and Conditions of Business.

12.4 As agent for the Seller, we will not have any responsibility for any default or breach of obligations by you or the Seller (unless we are the Seller of the Lot). You may directly enforce any terms in the Terms of Consignment against a Seller to the extent that you suffer damage and/or loss as a result of the Seller’s breach of the Terms of Consignment.

12.5 If you breach these Terms of Sale for Online Auctions, you may be responsible for damages and/or losses suffered by a Seller or us. If we are contacted by a Seller who wishes to bring a claim against you, we may at our discretion provide the Seller with information or assistance in relation to that claim.

12.6 If you purchase an unsold Lot after an auction, the contract for sale is formed when the sale is agreed in writing and the Total Price of the Lot shall be as set out at Clause 8 except that any reference to Hammer Price shall be read as the agreed sale price. So far as appropriate, the remainder of these Terms of Sale for Online Auctions shall apply to the sale as they would to an auction sale.

13. DATA CHECK

When you submit a successful bid, we may run some checks on it before it is fulfilled. These checks may include verifying your address, creditworthiness, and checking for fraud. As to the latter, we run partly automated checks on all bids to filter out unusual or suspect transactions, or transactions which can be identified as susceptible to fraud. Suspected fraud on our Online Auctions will be investigated and if necessary prosecuted. By submitting your bid, you agree to this.

14. PAYMENT

14.1 Following your successful bid on a Lot you will:

14.1.1 immediately give to us, if not already provided to our satisfaction, any further proof of identity or source of funds, or client due diligence documentation in a form acceptable to us (and any other information that we require in order to comply with our anti-money laundering obligations, please refer to section A and paragraph 14 of the Information for Buyers); and

14.1.2 unless we have agreed otherwise and subject to the terms of any Pledge, pay us the Total Price within 3 Business Days of the date of the auction in cleared funds in GBP Sterling in any way that we agree to accept payment including in cash (for which there is an aggregate upper limit of £6,000 for all purchases made in any auction) Please see the Important Information for Buyers for further information about how to make a payment.

14.2 If payment is late, we reserve the right to charge interest on the Total Price or any part thereof in accordance with Clause 19.1.5.

14.3 If you owe us any money, we may use any payment made by you to repay the amounts owed by you before applying such monies towards your purchase of the Lot(s).

14.4 All Lots sold will be invoiced in the name of the registered Bidder at the address given to us at the time of registration and cannot be transferred to other names or addresses.

15. TITLE AND COLLECTION OF PURCHASES

15.1 While you are bound by the contract for the purchase of the Lot from us sending the Order Confirmation, the transaction is not completed and ownership in the Lot will not pass to you until:

15.1.1 we have received the Total Price in full and cleared funds for that Lot;

15.1.2 you have provided us with the information set out in Clause 3 and provided your continuing compliance with Clause 7; and

15.1.3 we have completed our enquiries pursuant to the Money Laundering Legislation to our satisfaction.

15.2 You may not claim or collect a Lot until:

15.2.1 you have paid for it;

15.2.2 ownership has passed to you; and

15.2.3 any applicable storage charge applicable under Clause 15.7 and accrued up until the day of collection have been paid in full by you (at law, the right for a professional to hold on to goods until its services have been paid for is called a “lien”).

15.3 We may (i) refuse to accept payment, (ii) refuse to release the Lot or any other property to you, (iii) cancel the contract for the sale between you and the Seller or (iv) withhold any refunds you would otherwise be entitled to if we require further information or verification and until we satisfy ourselves of the client due diligence and source of funds related to the transaction.

15.4 For any Lots stored at a third-party location and not available for collection from our premises, your provision to us of instructions authorising the release to you or your agent shall constitute collection by you.

15.5 if you have purchased a Lot using third party pre-approved financing, with our knowledge and agreement, and the Lot remains subject to a Pledge, we will hold the Lot until we receive conformation from the beneficiary of the Pledge that we are authorised to release the Lot. In such cases, time starts to run under Clauses 15.6 and 15.7 below from the date that we inform you that the Lot can be released, rather than the date of the auction.

15.6 Unless notified otherwise, and subject to the passing of ownership in the Lot to you under Clause 15.1, you will (at your own expense) collect any Lots that you have purchased and paid for at the location notified in the Order Confirmation either:

15.6.1 not later than 5 Business Days following the day of the auction; or

15.6.2 not later than 5 Business Days following the date that we have received payment of the Total Amount Due in cleared funds, if later.

15.7 Subject to Clause 15.1, if you do not collect the Lot within any of the time periods set out at Clause 15.6 above, we shall start charging a minimum warehousing charge of £10 per Lot per day plus any applicable VAT, starting from the latest of the time periods to the date of collection (inclusive). You will also be responsible for any reasonable removal, storage and insurance charges in relation to that Lot.

15.8 Risk of loss or damage to the Lot will pass to you when you purchase the Lot. Once risk passes to you, you irrevocably release us, our offices and employees, agents, and the Seller from any and all claims, causes of action, liabilities, damages, losses and expenses (including but not limited to reasonable legal fees) for loss or damage to the Lot.

15.9 Subject to Clause 15.1, if you do not collect the Lot that you have paid for within 28 days of the date of the auction, we may sell the Lot by auction or private treaty with the Estimate and Reserve or purchase price, as applicable, set at our discretion. We will pay the proceeds of any such sale to you, but will deduct any storage charges or other sums that we have incurred in the storage and sale of the Lot and any other sums owed to us by you. We reserve the right to charge you a selling commission at our standard rates on any such resale of the Lot.

16. CONSUMER’S RIGHT TO CANCEL THE CONTRACT

16.1 If you purchase a Lot at an Online Auction and you are contracting as a Consumer habitually residing in the UK or the EU and the Seller of a Lot is a Trader, you will have a statutory right under the Consumer Rights Directive to cancel the contract for your purchase of that Lot without giving any reason conditional upon satisfaction of the requirements set out at Clause 16.2 to 17.3. The provisions below set out your legal right to cancel. If the Lot is being sold by any person or entity other than a Trader, the right to cancel does not apply. Further advice about your legal right to cancel your purchase is available from your local Citizens Advice Bureau or Trading Standards Office.

16.2 If applicable, you may exercise the right to cancel from the date of purchase of the Lot in the Online Auction for a period of 14 days starting on the day after the day on which you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the Lot (the “Cancellation Period”). Where the Lot consists of more than one item delivered separately, the Cancellation Period will expire 14 days from acquiring physical possession of the last item within the Lot.

17. EXERCISING THE CONSUMER’S RIGHT TO CANCEL THE CONTRACT

17.1 In order to exercise your right to cancel your purchase, you must inform us clearly in writing (by letter sent by post or email) of your decision to cancel the contract within the Cancellation Period. To meet the cancellation deadline, it is sufficient for you to send your communication within the Cancellation Period even if we do not receive it before the Cancellation Period has expired (the cancellation is effective from the date you send us the email or post the letter to us). You may, but are not required to, notify us by using the model cancellation form set out below.

17.2 Model cancellation form:

To: Sale Administration Team, Olympia Auctions Ltd, 25 Blythe Road, London W14 0PD, enquiries@olympiaauctions.com

I/We [*] hereby give notice that I/We [*] cancel my/our [*] contract of sale of the following goods [*]:

Auction Title:

Auction Date:

Lot No:

Brief Description of Lot:

Bid successfully on [*]/received on [*]:

Name of consumer(s):

Address of consumer(s):

Signature of consumer(s) (only if this form is notified on paper):

Date:

[*] Delete as appropriate

17.3 You must return the Lot to us without undue delay and in any event not later than 14 days from the day on which you communicate your cancellation of the contract to such address as we specify. The deadline is met if you send back the Lot before the period of 14 days has expired.

17.4 You will bear the direct cost of returning the Lot. We cannot provide an estimate of the cost of returning any Lot as we do not arrange delivery ourselves.

17.5 If you exercise your right to cancel your purchase, you will receive a refund of the Price paid for the Lot in accordance with Clause 17.

17.6 You are entitled to a reasonable opportunity to inspect the Lots you have purchased (which will include removing them from their packaging and inspecting them). At all times, you must take reasonable care of the Lots and must not let them out of your possession. If you are in breach of your obligations to take reasonable care of the Lots in this Clause 17.9, we will have a claim against you and may deduct from the refund costs incurred by us as a result of the breach. We are permitted by law to reduce your refund to reflect any reduction in the value of the Lot, if this has been caused by your handling of the Lot in a way contrary to the conditions specified in these terms or which would not be permitted during a pre-sale exhibition held prior to an auction. If we refund you the price paid before we are able to inspect the Lot and later discover you have handled the Lot in an unacceptable way, you must pay us an appropriate amount.

17.7 Details of this statutory right, and an explanation of how to exercise it, are also provided in the Order Confirmation. This provision does not affect your statutory rights.

17.8 The cancellation right described in this Clause is in addition to any other right that you might have to reject a Lot, for instance because it is a Deliberate Forgery as set out in Clause 23 below.

17.9 Where you have validly returned a Lot to us under your right of cancellation described in Clause 16, we will refund the full amount paid by you for the Lot. This does not include costs of delivery as we do not provide a delivery service or any fees, taxes or duties paid to other parties in relation to the Lot, including in order to export or import the Lot.

17.10 You will be responsible for returning the Lot to us at your own cost.

17.11 We will process any refund due to you within the deadlines below:

17.11.1 if you have collected the Lot but have not returned it to us: fourteen days after the day on which we receive the Lot back from you or,

if earlier, the day on which you provide us with evidence that you have sent the Lot back to us; or

17.11.2 if you have not collected the Lot or you have already returned the Lot to us: fourteen days after you inform us of your decision to cancel the Contract.

17.12 We will refund you using the same means of payment that you used for the transaction.

Legal ownership of a Lot will immediately revert to the Seller (or us if we are the Seller) if we refund any such payment to you.

17.13 Legal ownership of a Lot will immediately revert to the Seller (or us if we are the Seller) if we refund any such payment to you.

17.14 For further information on how to return Lots to us, please get in touch with us using the contact details provided on our Website.

18. RIGHT TO CANCEL OUR SERVICES

18.1 Separately from your right to cancel your contract with the Seller per Clause 16.1 (where applicable), you will have the statutory right

under the Consumer Rights Directive to cancel the contract for the Services (such as delivery or other post-sale services) we provide you in connection with your purchase of the Lot from the Seller.

18.2 If applicable, you may exercise the right to cancel the contract for our Services from the day the contract is formed for a period up to the end of the fourteenth day after the date of formation of that contract (the “Cancellation Period”).

18.3 In order to exercise your right to cancel the contract for Services, you must inform us clearly in writing (by letter sent by post or email) of your decision to cancel the contract for Services within the Cancellation Period. To meet the cancellation deadline, it is sufficient for you to send your communication within the Cancellation Period even if we do not receive it before the Cancellation Period has expired (the cancellation is effective from the date you send us the email or post the letter to us). You may, but are not required to, notify us by using the model cancellation form set out below.

18.4 Model cancellation form

To Sale Administration Team, Olympia Auctions Ltd, 25 Blythe Road, London W14 0PD, enquiries@olympiaauctions.com

I/We [*] hereby give notice that I/We [*] cancel my/our [*] contract of sale of the supply of the following service [*]:

Date of registration for the service [*]:

Name of consumer(s):

Address of consumer(s):

Signature of consumer(s) (only if this form is notified on paper):

Date:

[*] Delete as appropriate

18.5 You request that we begin the performance of our Services during the cancellation period. You shall pay us an amount which is in proportion to what has been performed until you have communicated us your cancellation from this contract. You acknowledge that if any of our Services are fully performed by the time the contract for our Services is cancelled, we will not reimburse you for such fully performed Services.

19. REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES

19.1 Please do not bid on a Lot if you do not intend to buy it. If your bid is successful, our Terms and Conditions of Business will form your contract of purchase. This means that you will have to carry out your obligations set out in these Terms of Sale for Online Auctions. Subject to any cancellation of a purchase under Clauses 16 and 17, if you do not comply with these Terms of Sale for Online Auctions we may (acting on behalf of the Seller and ourselves) pursue one or more of the following measures:

19.1.1 take legal action against you to recover the Total Price and/or pursue damages for breach of contract, including any fees, interest, legal expenses or other costs that we incur;

19.1.2 reverse the sale of the Lot to you and/or any other Lots sold by us to you (in which case we may charge you an administration fee of £150 plus VAT per Lot or, if lower, the Total Price of the Lot and retain any partial payment of the Price as liquidated damages;

19.1.3 cancel the sale of the Lot and resell it by auction or private treaty (in which case you will have to pay any difference between the Total Price for the Lot and the Hammer Price we sell it for as well as the charges outlined in Clause 11 and any other costs and expenses or legal fees incurred by us in reselling the Lot or any loss to us of Seller’s commission). Please note that if we resell the Lot for a higher amount than the Hammer Price on the sale of the Lot to you, the additional sale proceeds will be paid to the Seller and we will retain any increase in Premium;

19.1.4 remove, store and insure the Lot at your sole risk and expense until you pay the Total Price together with any removal, storage and insurance fees as set out in Clause 15.7 or we agree alternative arrangements;

19.1.5 if you do not pay us within three Business Days of your successful bid, we may charge interest at a rate not exceeding 5% per annum above the HSBC Bank plc base rate on the total amount due, or any part remaining unpaid;

19.1.6 assist the Seller in pursuing you for payment and/or damages including by revealing your identity and contact details;

19.1.7 keep the Lot, any other Lot sold to you, or any item(s) consigned for sale by you to us as security for payment until you pay the Total Price and at our discretion sell any of your property in our possession and apply the proceeds to the amount owed by you to us after deduction of the commission due to the Seller and any sale expenses including any applicable Taxes;

19.1.8 if you owe money to us we can apply any payments including deposits or part payments made by you towards part settlement of the Total Price due for the Lot or any other Lot purchased by you, or to any shortfall on the resale of any Lot pursuant to Clause 19.1.3 or to any outstanding sums owed by you to us including but not limited to any removal, storage or insurance charges in relation to any Lot that you have purchased or to any loss or damage suffered by us as a result of your failure to comply with these Terms of Sale for Online Auctions;

19.1.9 refuse to allow you to register you to bid, reject or ignore bids from you or your agent at future auctions, suspend your ability to place bids on the Bidding Platform and/or impose conditions before we accept bids from you;

19.1.10 offset any amounts due from you against any amounts that we may owe you, including if we sell any Lots for you; and/or

19.1.11 take any other action we consider necessary.

 

20. EXPORT AND IMPORT RESTRICTIONS

20.1 Exporting a Lot out of the United Kingdom or importing it into another country may be subject to legal requirements and restrictions depending on factors such as the type of goods, their age and monetary value and destination. It is solely your responsibility to ascertain what

the requirements are in relation to any Lot and obtain the necessary endangered species licenses or permits or export or import licence

where applicable.

20.2 Lots made of restricted organic matter or endangered species are identified in the catalogue. These may be subject to prohibitions on export or import pursuant to the CITES Regulation and otherwise may require licences. Subject only to Clause 22.7, you are solely responsible for identifying and obtaining any necessary licence. The information provided in our catalogue reflects our reasonable opinion at the date of publication but is intended as guidance only and neither the Auctioneer nor the Seller make any representation or give any warranty as to whether any Lot is subject to a prohibition or restriction on export or import.

20.3 You acknowledge that your purchase of the Lot and fulfilment of your obligations under the Terms and Conditions of Business is not conditional on successfully obtaining an export, import or other licence or permit for any Lot and that you will pay for and collect the Lot regardless of whether a licence has been or is likely to be granted. We will not cancel your purchase of a Lot if for any reason it is refused a licence or is seized or confiscated by government authorities.

20.4 We may on request assist you with applying for a licence to export your Lot(s) out of the United Kingdom and will charge a fee for doing so to cover the costs of our time and out of pocket expenses.

21. SELLER’S WARRANTIES

21.1 The Seller warrants to us and to you in relation to each Lot that:

21.1.1 the Seller is the owner of the Lot for sale or a joint owner of the Lot acting with the co-owners authority or, if acting on the owner’s behalf, is authorised by the owner to offer and sell the Lot at auction;

21.1.2 the Seller is able to transfer clear and unencumbered legal title to the Lot to you free from any third party rights or claims; and

21.1.3 as far as the Seller is aware, the main characteristics of the Lot set out in the catalogue (as amended by any notice on our Website or any Bidding Platform) are correct.

21.2 If, after you have placed a successful bid and paid for a Lot, any of the warranties above are found not to be true, please notify us in writing. Neither we nor the Seller will be liable, under any circumstances, to pay you any sums over and above the Total Price and we will not be responsible for any inaccuracies in the information provided by the Seller except as set out below.

21.3 If you purchase a Lot as a Consumer from a Seller that is a Trader, a number of additional terms may be implied by law in addition to the Seller’s warranties set out at Clause 21.1 (in particular under the Consumer Rights Act 2015). These Terms of Sale for Online Auctions do not seek to exclude your rights under law as they relate to the sale of these Lots.

21.4 Save as expressly set out above, all other warranties, conditions or other terms which might have effect between the Seller and you, or us and you, or be implied or incorporated by statute, common law or otherwise are excluded to the fullest extent that they can be lawfully excluded.

22. DESCRIPTIONS, SAFETY, CONDITION AND DISCLAIMERS

22.1 Our descriptions of the Lot will be based on: (a) information provided to us by the Seller of the Lot (for which we are not liable); and

(b) our opinion (as set out at Clause 22.3) (although it is likely we will not be able to carry out a detailed inspection of each Lot).

22.2 On request, we will give you the opportunity to view and inspect the Lots before auction. You (including any agents or consultants acting on your behalf) must satisfy yourself about the accuracy of any description of a Lot and of any other characteristics of a Lot relevant to your decision to place a bid. We shall not be responsible for any failure by you or your agent or consultant to properly inspect a Lot.

22.3 Certain words used in the catalogue description have special meanings. You can find details of these on the pages headed “Important Information for Buyers” which form part of these Terms of Sale for Online Auctions. Any descriptions and/or statements by us about any Lot, including but not limited to its authorship, attribution, authenticity, origin, date, age, period, culture, provenance, source, material, dimensions, condition or estimated selling price, whether oral or in writing, are matters of our opinion genuinely held but are not to be relied on as a statement of fact or contractual representation. We do not warrant that we have carried out a detailed inspection of each Lot. Any references to dimensions or weight are approximate only.

22.4 Any photographs that we provide are for identification purposes only and may not reveal a Lot’s condition or be accurate in colour or

other features. The actual colour of the Lot may vary from the images in the auction catalogue.

22.5 Please note that the majority of Lots sold by the Auctioneer are second-hand and will not be in perfect condition. Lots are sold “as is”

(i.e. as you see them at the time of the auction). Neither we nor the Seller accept any liability for the condition of any Lot.

22.6 The sale of Lots containing elephant ivory is banned, subject to exceptions. Please note that we may offer Lots containing elephant ivory from time to time. Subject only to Clause 22.7, where this is the case, we rely on the documentation obtained by the Seller of the Lot confirming that the Lot satisfies the relevant exemptions. Therefore, we cannot guarantee that any certificate or other documentation provided by us (on the Seller’s behalf) to you in connection with the sale of the Lot is valid or accurate.

22.7 From time to time and only upon request, we may apply for the relevant certificates, registrations or other documentation required pursuant to the CITES Regulation. In the event that we do apply for such documentation on your behalf, we guarantee that is valid and accurate.

22.8 All Lots of furniture are sold as a collector’s item for display purposes and are not supplied for use. Such Lots may not comply with applicable furniture and safety regulations. Therefore, if you do intend to use such Lots for private use or otherwise, you must first ensure that they are refurbished and rendered compliant with any applicable furniture and safety regulations.

22.9 All Lots with electrical components are sold as “antiques” for their historical and decorative attributes for collection and display only, and are not intended for use. If you buy Lots with electrical components and intend to use them, you must first ask a qualified electrician to check them for compliance with safety regulations.

23. DELIBERATE FORGERIES

23.1 You may return any Lot which is found to be a Deliberate Forgery to us within twelve months of the date of the Online Auction provided that you return the Lot to us at your expense in the same condition as when it was released to you, accompanied by a written report by two recognised experts approved in advance by us on the subject matter identifying the Lot as a Deliberate Forgery with reference to the catalogue description and fully explaining the reasoning behind any conclusions drawn in the report. We shall not be bound by any expert report produced by you and reserve the right to consult our own experts at our expense.

23.2 If we are satisfied, acting reasonably, that the Lot is a Deliberate Forgery and it has been returned to us within the period specified in

Clause 23.1, we will cancel the sale of the Lot and refund the Total Price to you save that you will have no right to cancel the sale or receive a refund under this Clause 23.2 if and of the following circumstances apply:

23.2.1 the online auction catalogue description reflected the accepted view of experts, specialists or scholars as at the date of the Online Auction;

23.2.2 the catalogue description reflected that there is a conflict of expert opinion on the authorship of the Lot;

23.2.3 the Lot can only be shown to be a Deliberate Forgery on the basis of scientific examination which was not available at the time of the auction or in the circumstances was not practicable or reasonable to expect;

23.2.4 there has not been a material loss in value from the value of the Lot had it been described differently in the heading of the catalogue entry;

23.2.5 if you were not the original Buyer (i.e. the registered Bidder) of the Lot named on the invoice for the Lot issued at the time of the sale; or

23.2.6 you personally are not able to transfer clear legal title in and right to possession of the Lot to us, free of any claim, interest or restriction by anyone else, on the date of the return of the Lot to us.

23.3 If you have sold the Lot to another person, we will only be liable to refund the Total Price. We will not be responsible for repaying any additional money you may have made from selling the Lot. The rights given under this Clause 23 are given to you as a Buyer in our Online Auction: they are not given to, and may not be transferred or assigned to, any other party.

23.4 In the event that we cancel the sale and refund the Total Price to you, such refund shall constitute the sole remedy and recourse that you may have against us and/or the Seller with respect to such cancelled sale. We and the Seller will not in any circumstances be liable to you for any loss, damage, expense, costs, loss of profit, loss of business or loss of opportunity.

23.5 Your right to return a Lot that is a Deliberate Forgery does not affect your legal rights and is in addition to any other right or remedy provided by law or by these Terms of Sale for Online Auctions.

24. OUR DISCLAIMERS AND OUR LIABILITY TO YOU

24.1 The Website and the Bidding Platform are provided by us or our service providers without any warranties or guarantees in relation to any statements or representations made or information given in connection with the conduct of the auction or for any other matter relating to the sale of any Lot by us, or our employees or agents whether oral or in writing and accept no liability in connection therewith, including in relation to any errors (human or otherwise) or omissions unless Clause 23 applies. All users of our Website and/or the Bidding Platform bear the risks associated with the use of the internet. Both our Website and the Bidding Platform provide content from users, internet sites or resources. While we try to ensure that material included on our Website and/or the Bidding Platform is correct, reputable and of high quality, we are not responsible if this is not the case. Except as expressly set out herein, we will not be responsible for any errors or omissions or for the results obtained from the use of such information or for any technical problems users may experience with the Website and/or the Bidding Platform or participating in any Online Auction, including but not limited to any loss of internet connection, problems with using any bidding software or hardware faults. We do not accept any liability for any delay or failure in placing a bid, any failure to execute bids or any errors or omissions owing to technical failings, whether on our part or yours. If we are informed of any inaccuracies in the material on our Website or the Bidding Platform we will attempt to correct the inaccuracies or ask our service providers to do so as soon as we reasonably can.

24.2 You acknowledge that the Website and the Bidding Platform are provided as is for public use, subject to registration. Registration is free of charge and as such we have no responsibility to users of our Website and/or the Bidding Platform for any downtime or errors on our Website or the Bidding Platform. If, because of errors on our Website and/or the Bidding Platform an auction cannot be completed, our only responsibility to you is to enable Sellers to re-list the Lot(s) once our Website and/or the Bidding Platform is back up. In particular, we will not be liable for any loss of opportunity or disappointment suffered as a result of participating in our Online Auction.

24.3 You should note that Lots are sold as antiques for their decorative attributes rather than for use, and are often of considerable age and uncertain manufacture; neither we nor the Seller accepts any liability for loss or damage to the Lots, or any other loss or damage, that is caused by or results from any inherent vice or defect affecting the Lots. We accept no liability for damage to gilded picture frames, plaster picture frames or picture frame glass.

24.4 In addition to the above, neither we nor the Seller shall be responsible to you and you shall not be responsible to the Seller or us for

any other loss or damage that any of us suffer that is not a foreseeable result of any of us not complying with the Terms and Conditions of Business. Loss or damage is foreseeable if it is obvious that it will happen or if at the time of the sale of the Lot, we, you and the Seller knew

it might happen.

24.5 We accept no liability in relation to any of the Seller’s warranties at Clause 21, including any warranty of satisfactory quality and fitness for purpose, description, size, quality, condition, attribution, authenticity, rarity, importance, completeness, value, frame, medium, provenance, exhibition history, literature or historical relevance or any breach by the Seller of their obligations under the Terms of Consignment. Unless Clause 23 applies, all warranties express or implied are specifically excluded by us to the fullest extent permitted by law.

24.6 We do not accept any responsibility to any Bidders for any failure to register a Bidder or any acts or omissions in relation to the sale of Lots and the conduct of our auctions and will not be liable for any loss, damage, expense, costs, loss of profit, loss of business or loss of opportunity suffered as a result of participating in our auctions.

24.7 Subject to Clause 24.9, if we are found to be liable to you for any reason (including, amongst others, if we are found to be negligent, in breach of contract or to have made a misrepresentation), our total liability will be limited to the Total Price paid by you to us for any Lot. We will not be responsible to you for any reason for any loss, damage, expense, costs, loss of profit, loss of business or loss of opportunity. We have no responsibility to any person other than the Buyer in connection with the purchase of any Lot.

24.8 Neither we, you nor the Seller will be responsible for any failure to meet any obligations which we, you or the Seller has under the

Terms and Conditions of Business which is caused by circumstances beyond our, your or the Seller’s reasonable control. This includes but is

not limited to strikes, lock-outs, fire, flood, natural disasters, war, armed conflict, terrorist attack, nuclear and chemical contamination, epidemic and pandemic.

24.9 Notwithstanding the above, nothing in these Terms of Sale for Online Auctions shall limit our liability (or that of our employees or

agents) for:

24.9.1 death or personal injury resulting from negligence (as defined in the Unfair Contract Terms Act 1977);

24.9.2 fraudulent misrepresentation; or

24.9.3 any liability which cannot be excluded by law.

25. NOTICES

25.1 All notices or other communications between you and us regarding these Terms of Sale for Online Auctions must be in writing and signed

by or on behalf of the party giving it.

25.2 Any notice referred in Clause 25.1 may be given:

25.2.1 by delivering it by hand;

25.2.2 by first class pre-paid post or Recorded Delivery; or

25.2.3 by email, provided that a copy is also sent by first class pre-paid post or Recorded Delivery. A notice given by email will be deemed to be signed for the purposes of this Clause 25.1 if the name of the sender appears in a signature position after the body of the email and has not been added automatically by the sender’s email server.

25.3 Notices must be sent:

25.3.1 by hand, by first class pre-paid post or Recorded Delivery:

(a) to us, at our address set out in these Terms of Sale for Online Auctions or at our registered office address appearing on our Website; and

(b) to you, at the last postal address that you have given to us as your contact address in writing.

25.3.2 by email:

(a) to us, by sending the notice to the following email address: enquiries@olympiaauctions.com, marked for the attention of the

Sale Administration Team

(b) to you, by sending the notice to any email address that you have given to us as your contact email address in writing.

25.4 Notices will be deemed to have been received:

25.4.1 if delivered by hand, on the day of delivery;

25.4.2 if sent by first class pre-paid post or Recorded Delivery, two Business Days after posting, exclusive of the day of posting; or

25.4.3 if sent by email, at the time of transmission unless sent after 17.00 in the place of receipt in which case they will be deemed to have been received on the next Business Day in the place of receipt (provided that a copy has also been sent by pre-paid post or Recorded Delivery as set out in Clause 25.3.1).

25.5 Any notice or communication given under these Terms of Sale for Online Auctions will not be validly given if sent by fax, any form of messaging via social media or text message (including WhatsApp).

26. DATA PROTECTION

We will hold and process any personal data in relation to you in accordance with our current privacy policy, a copy of which is available on

our Website.

27. GENERAL

27.1 We may, at our sole discretion, though acting reasonably, refuse any person admission to our premises or participation in our

Online Auctions.

27.2 We act as an agent for our Sellers. The rights we have to claim against you for breach of these Terms of Sale for Online Auctions or our Terms and Conditions of Business may be used by either us, our employees or agents, or the Seller, its employees or agents, as appropriate. Other than as set out in this Clause, these Terms of Sale for Online Auctions are between you and us and no other person will have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any of their terms.

27.3 The Terms and Conditions of Business shall be binding on the parties’ respective heirs, beneficiaries, executors, successors and assigns, but neither party may assign the contract between us without the prior written consent of the other party.

27.4 We may use special terms in the Listings for particular Lots. You must read these terms carefully along with any glossary provided on

our Website.

27.5 Each of the clauses of the Terms and Conditions of Business operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining clauses will remain in full force and effect.

27.6 We may change these Terms of Sale for Online Auctions from time to time, without notice to you. Please read these Terms of Sale for Online Auctions carefully, as they may be different from the last time you read them.

27.7 Except as otherwise stated in these Terms of Sale for Online Auctions, each of our rights and remedies are: (a) are in addition to and not exclusive of any other rights or remedies under these Terms of Sale for Online Auctions or general law; and (b) may be waived only in writing and specifically. Our delay in exercising or non-exercise of any right under these Terms of Sale for Online Auctions is not a waiver of that or any other right. Our partial exercise of any right under these Terms of Sale for Online Auctions will not preclude any further or other exercise of that right or any other right under these Terms of Sale for Online Auctions. Our waiver of a breach of any term of these Terms of Sale for Online Auctions will not operate as a waiver of breach of any other term or any subsequent breach of that term.

27.8 The Terms and Conditions of Business and any dispute or claim arising out of or in connection with them (including any non-contractual claims or disputes) shall be governed by and construed in accordance with the laws of England and Wales and the parties irrevocably submit to the exclusive jurisdiction of the English Courts.

TERMS OF CONSIGNMENT

Your contract with us is made up of these Terms of Consignment, our Receipt, our Privacy Policy, the sale catalogue, and any notices displayed

in the saleroom or announced by us at the auction (collectively, the “Agreement”).

Please read these Terms of Consignment carefully. Please note that if you (or another person acting on your behalf) provide goods to us to sell on your behalf at our auction, this signifies that you agree to and will comply with these Terms of Consignment.

1. DEFINITIONS AND INTERPRETATION

1.1 To make these Terms of Consignment easier to read, we have given the following words a specific meaning:

“Advance” means a payment to the Seller in advance of the sale of the Goods;

“Auctioneer” means Olympia Auctions Ltd, a company registered in England and Wales with registration number 07982062 and whose registered office is located at 25 Blythe Road, London W14 0PD or its authorised auctioneer, as appropriate;

“Art Market Participant” means an art market business registered with HMRC under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended);

“Bidder” means a person participating or planning to participate in bidding at our auction;;

“Bidding Platform” means the bidding platform on which the Online Auction is operated by the Auctioneer, or by a third party service provider

on the Auctioneer’s behalf;

“Business Day” means any day that is not a weekend or public holiday in England and the Auctioneer is open for business;

“Buyer” means the person who makes the highest bid for the Goods accepted by the Auctioneer, including a Buyer’s Principal when acting

as agent;

“CITES Regulation” means the Convention on International Trade in Endangered Species of Wild Fauna and Flora;

“Commission” means the fee that we charge you on the sale of the Goods as set out in Clause 5 below;

“Consumer Rights Directive” means the EU Consumer Rights’ Directive and any implementing legislation;

“Consumer” means an individual acting for purposes which are wholly or mainly outside that individual’s trade, business, craft or profession;

“Deliberate Forgery” means:

(a) a copy or imitation made in our reasonable opinion with the intention of deceiving as to authorship, authenticity, origin, date, age, period, culture, provenance, source or material;

(b) described in the catalogue entry (as amended by any saleroom or Website notice) without qualification or any indication that there may be any uncertainty or conflict of opinion in relation to the work being such a copy or imitation; and

(c) which at the date of the auction or sale had a value materially less than it would have had if it had been as described;

“Estimate” means the price range within which, in our opinion, a Lot may reasonably be expected to sell. A reference to the “low Estimate” means the lower figure in such price range;

“Goods” means the goods that you consign to us for sale at our auction;

“Hammer Price” means the amount of the highest bid accepted by the Auctioneer for a Lot by the fall of the hammer (in the case of Live Auctions) or the level of the highest executed bid when the Listing Period for a Lot ends (in the case of Online Auctions);

“Listing” means a listing of a Lot for sale on the Website or Bidding Platform;

“Listing Period” means the period during which Bidders may place bids to purchase a Lot;

“Live Auction” means a public auction where members of the public are given the possibility of attending the sale in person;

“Lot” means an item offered for sale or a group of items offered together;

“Money Laundering Legislation” means the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (as amended) and related legislation, together with any applicable terrorist financing legislation and legislation on Restrictive Measures;

“Online Auction” means an auction held over the Website or any Bidding Platform where members of the public are not given the possibility

of attending the sale in person;

“Pledge” means any security or charge over the Goods in favour of ourselves or any third party;

“Premium” means the fee charged to the Buyer on their purchase of the Goods (in addition to the Hammer Price) in accordance with the

Terms of Sale;

“Price” means the total of:

(a) the Hammer Price;

(b) the Premium;

(c) any VAT, import VAT or other duties, fees or Taxes applicable to the Lot;

(d) any artist’s resale right royalty payable on the sale of the Lot; and

(e) any additional charges payable by a late paying or defaulting Buyer under the Terms of Sale.

“Principal” means a person or entity you are acting on behalf of for the purposes of the consignment of the Goods to the Auctioneer;

“Proceeds” means the net amount due to the Seller;

“Recorded Delivery” means a method of delivery pursuant to which the sender receives a confirmation that a letter has been posted and a signature is obtained from the recipient as a record that it has been delivered;

“Reserve” means the minimum Hammer Price at which the Lot may be sold, subject to Clause 10;

“Restrictive Measures” means economic or financial sanctions, export controls, embargoes or any other restriction on trade under the laws

of the European Union, the United Kingdom or the United States, or in the jurisdiction in which you, your Principal, or any agent acting for you does business;

“Seller” means the person(s) or entity who consigns Lots for sale at our auctions;

“Tax” means any tax, levy, impost, duty or other charge or withholding of a similar nature in any jurisdiction (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same) and “Taxes” shall be construed accordingly;

“Terms of Consignment” means these terms of consignment as amended from time to time;

“Terms of Sale” means the standard terms of the contract between us as your agent and the Buyer as amended from time to time;

“Trader” means a person who is acting for purposes relating to that person’s trade, business, craft or profession, whether acting personally

or through another person acting in the trader’s name or on the trader’s behalf (such as an agent and/or the Auctioneer);

“VAT” means Value Added Tax in the UK and any other tax of a similar nature in any jurisdiction (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same); and

“Website” means the Auctioneer’s website. 

1.2 In these Terms of Consignment the words “you”, “yours”, etc. refer to the Seller. The words “we”, “us”, “our” etc. refer to the Auctioneer. All obligations that apply to the Seller under these Terms of Consignment shall apply to the owner of the Goods and their agent, jointly and separately. If the consignment of Goods to us is made by an agent, we assume that the owner of the Goods has authorised the consignment and authorised the agent to contract on the owner's behalf. Any reference to a ‘Clause’ is to a clause of these Terms of Consignment unless stated otherwise. A reference to legislation or a legislative provision is a reference to it as amended, extended or re-enacted from time to time.

2. INFORMATION THAT WE ARE REQUIRED TO GIVE CONSUMERS

2.1 A description of the main characteristics of the auction-related services that we are providing to you as set out in these Terms of Consignment or otherwise agreed with you in writing.

2.2 Our name, address and contact details as set out in these Terms of Consignment and/or on our Website.

2.3 The rate at which we will charge you the Commission plus any applicable VAT on the sale of the Goods as set out in Clause 5.

2.4 The fee that we will charge you plus any applicable VAT as set out in Clause 19 if either the Goods are unsold at auction or the Goods are withdrawn by you from the auction after the Goods have been catalogued and/or marketed by us prior to the auction in any way.

2.5 The arrangements for collection of any unsold Goods are set out in Clauses 19 and 21 and terms regarding payment of any Proceeds due to you in Clause 18.

2.6 If you have any complaints, please get in contact with us using the contact details set out on our Website.

3. CONSIGNING GOODS FOR SALE AT AUCTION

3.1 By entering into the Agreement and consigning Goods to us for sale at auction, you appoint us as your agent to offer the Goods for sale and authorise us to sell the Goods to the Buyer in accordance with the Terms of Sale.

3.2 All obligations that apply to the Seller under the Agreement apply to the owner of the Goods and their agent, jointly and separately.

3.3 Prior to consigning Goods to us, you will need to provide us with the following information and documentation about you and the Goods, in a form acceptable to us:

3.3.1 your legal name and proof of identity (in a form acceptable to us at our sole discretion) (as set out in Clause 3.4) and other information as we may require to conduct such checks under the Money Laundering Legislation as we deem necessary;

3.3.2 the information about the Goods and the owner of the Goods (if not you) as set out in Clause 13;

3.3.3 your bank account details;

3.3.4 your address and contact details;

3.3.5 your VAT registration number (if applicable) and confirmation whether you consign the Goods pursuant to this Agreement under normal UK VAT rules, (which is VAT at the appropriate rate on the full Hammer Price) or whether the Goods were acquired under such conditions that make them eligible to be sold under the Auctioneer’s VAT margin scheme;

3.3.6 confirmation of whether you are selling the Goods as a Trader or as a Consumer;

3.3.7 confirmation of whether the Goods are pledged or otherwise subject to a third party right or interest, written confirmation from the

holder of any security or third party right or interest that you are authorised to sell the Goods and written instructions in relation to settlement

of the Proceeds;

3.3.8 confirmation of whether the Goods contain materials such as rosewood and ivory that fall under the CITES Regulation, the UK Ivory Act 2018 and/or equivalent legislation in other jurisdictions; and

3.3.9 upon request, if the Goods are made up of materials that fall under the CITES Regulation, the UK Ivory Act 2018 and/or equivalent legislation in other jurisdictions, confirmation that the Goods meet the relevant exemptions and that the Goods have been registered and/or

the relevant exemption certificate and/or permit have been obtained in order to sell them, offer or arrange for sale, advertise and display them for sale.

 

3.4 We may have to conduct various checks into our customers under the Money Laundering Legislation. In this regard we will require the following for the consignor of property to us:

3.4.1 For individuals, official photo identification (driving licence, passport or equivalent) and proof of address (if this is not included in your

ID document).

3.4.2 For corporate entities, the certificate of incorporation (or equivalent) with the entity’s official name, registered number (if any) and registered address, as well as details and ID documentation for directors and beneficial owners of the entity.

3.4.3 For trusts and estates, details and ID documentation for executors/trustees and details of beneficiaries: for further information please contact our administrative team at enquiries@olympiaauctions.com.

3.4.4 You may be asked for further information if we deem this necessary.

3.5 If you are consigning goods for another person (your Principal) you will be required to provide the above information (as applicable) for yourself and your Principal, along with a signed letter from your Principal authorising you to consign those goods.

3.6 If you are consigning goods on behalf of someone who is not the ultimate owner of the Goods, you will be required to provide us with all information on the ultimate owner(s) of the Goods we may require to satisfy our checks under the Money Laundering Legislation.

3.7 If you do not provide us with, or we are not satisfied with any of the above information or documentation received from you, by any stated deadline, we may refuse to accept consignment of your Goods for sale in our auction or withhold payment to you of the Proceeds until you have satisfied the information requirements.

3.8 We reserve the right, at our discretion, to reveal your identity and contact details (or that of your Principal) to the Buyer, for

regulatory purposes.

3.9 You must inform us promptly if any information provided by you changes or becomes incorrect or out of date.

3.10 Assuming that we agree to consign your Goods, you must deliver the Goods to such location as we shall agree in writing by any stated deadline (at your expense and risk). We may be able to assist you with this process but, any liability incurred to a carrier for haulage charges or insurance is solely your responsibility.

3.11 We have complete discretion in determining how to advertise and market the sale of any Goods including, without limitation, by choosing suitable auction(s) and Bidding Platform(s), the date, timing, location and conduct of the auction, dividing or amalgamating the Goods into Lots, photographing, describing and cataloguing the Lots and presenting them in the sale catalogue or in any other marketing material.

3.12 We may, at our discretion, revise how the Lot is described or catalogued or presented in any marketing material at any time prior to the auction, whether orally or in writing.

3.13 We may, at our discretion, consult with third party experts and carry out such other research in relation to the Goods as we deem necessary. We may transfer the Goods to third parties but shall have no responsibility for the acts or omissions of any third parties.

3.14 You are prohibited from bidding on any Goods that you consign to us for auction. If you submit a bid at the Hammer Price for any Goods that you have consigned to us, we may charge you the Commission (calculated in accordance with Clause 5.1), the Premium and our reasonable expenses.

4. THE CONTRACT BETWEEN YOU AND THE BUYER

4.1 Subject to the Auctioneer’s discretion to refuse a bid, reopen bidding on any Lot, or cancel a sale and reoffer any Lot, the contract between you and the Buyer will be formed:

4.1.1 in respect of Live Auctions, when the hammer falls accepting the highest bid for the Lot;

4.1.2 in respect of Online Auctions when the Listing Period for a Lot ends; or

4.1.3 in respect of private treaty sales arranged in accordance with Clause 19.1, when a sale is agreed in writing.

4.2 You may directly enforce any terms in the Terms of Sale against a Buyer and/or a Bidder to the extent that you have suffered damage and/or loss as a result of the Buyer and/or the Bidder’s breach of the Terms of Sale.

4.3 If you breach the terms of the Agreement, you may be responsible for damages and/or compensation of losses suffered by a Buyer, Bidder and/or by us. If we are contacted by a Buyer and/or a Bidder who wishes to bring a claim against you, we may at our discretion provide the Buyer and/or Bidder with such information or assistance as we may be permitted or required by law to provide in relation to that claim.

4.4 We normally act as an agent only and will not have any responsibility for default by you or the Buyer. We are under no obligation to pursue the Buyer in relation to any default under the Terms of Sale. See further at Clause 18.3.1.

4.5 Provided that we are satisfied with any client due diligence information or documentation provided by the Buyer, title to any Lot passes to the Buyer only when the Price has been paid to us by the Buyer. See further at Clause 14.

4.6 We may delay completion of, or cancel, any contract for sale where:

4.6.1 we have not completed our enquiries pursuant to the Money Laundering Legislation to our satisfaction;

4.6.2 we have concerns about the Buyer in relation to the Money Laundering Legislation; or

4.6.3 we have reason to believe that the transaction might be unlawful for any reason, or that the sale might put us under any civil or

criminal liability.

5. COMMISSION AND OTHER CHARGES

5.1 We will charge you a Commission on the sale of any Lot calculated as a percentage of the Hammer Price.

5.2 We may apply additional charges, agreed with you at the time of consignment, for photography, loss and damage waiver, advertising and other services.

5.3 We will apply a minimum charge of £10 per Lot in respect of all the services we have provided whether the Lot is sold or unsold.

5.4 Our sales are normally conducted under HMRC’s VAT rules for the Auctioneers’ Margin Scheme. Under this scheme we will charge an amount in lieu of VAT at the standard rate on our Commission. This VAT will not be separately itemised on our statement to you and is not reclaimable. For the sale of qualifying books, the rate of VAT will be 0%.

5.5 You agree that we may pay an introductory fee to a third person if that person has introduced you to us. The introductory fee will be paid from our Commission and will not reduce the amount of any Proceeds due to you. In such cases, it is the introducer's responsibility to notify you that they are receiving an introductory fee and inform you of the amount.

5.6 You and the Buyer are jointly liable for payment of any resale royalty due to an artist under the Artist’s Resale Right Regulations of 2006

(as amended) on the sale of a Lot. We will charge to the Buyer any applicable resale royalty as part of the Price and on receipt pay that amount

to the collecting society authorised to collect resale royalty on the artist’s behalf. You agree that if we pay the resale royalty without receiving payment from the Buyer we may either deduct the resale royalty from the Proceeds, or you will reimburse us. In either case, we will forward

to you any payment of resale royalty we subsequently receive from the Buyer.

5.7 We are entitled to offset any amounts due from you any time in respect of any consignment of Goods to us, whether such Goods are sold

or unsold, against the Proceeds or any amounts due to you.

6. LOSS AND DAMAGE TO GOODS

6.1 We are not authorised by the Financial Conduct Authority to provide insurance to you. However, subject to Clauses 6.4 and 6.6, we accept liability for Goods from the time we take possession of the Goods until:

6.1.1 the fall of the hammer or when the Buyer has otherwise purchased the Lot; or

6.1.2 if the Goods are unsold, on collection of the Lot or on expiry of the period for collection in accordance with Clauses 21.2 and 21.3, whichever is the earlier.

6.2 Our liability for Goods is limited to the lower of:

6.2.1 our low Estimate for the Lot before the sale;

6.2.1 the Hammer Price; or

6.2.3 the Reserve if the Lot is unsold. 

6.3 In consideration for accepting liability for Goods as set out above, we will charge you 1 % of the Hammer Price (plus VAT as applicable) or,

if unsold, 1% of the Reserve for the Lot or, where there is no Reserve, 1% of the low Estimate, in all cases subject to a minimum charge of £10 per Lot.

6.4 You should note that goods are sold as antiques, for their decorative attributes, and are often of considerable age and uncertain manufacture; the liability accepted by us in Clause 6.1 does not include any liability for loss or damage to the Goods that is caused by or results from any circumstance not within our control including without limitation: (i) any inherent vice or defect affecting the Goods; (ii) acts of God, flood, drought, earthquake or other natural disaster; (iii) epidemic or pandemic; (iv) acts of terrorism, civil commotion, riots or war; (v) nuclear, chemical or biological contamination; or (vi) any law or action taken by a government or public authority including without limitation imposing export or import restrictions. 

6.5 We do not accept any liability for damage to gilded picture frames, plaster picture frames or picture frame glass; if the Lot is or becomes dangerous, we may dispose of it without advance notice to you in any manner we see fit and will incur no liability for doing so.

6.6 If you (or your agent) instruct us in writing not to assume liability for Goods, and we have acknowledged such instruction prior to taking possession of the Goods, then the Goods remain entirely at your risk unless and until the Goods pass to the Buyer or are collected by you or on your behalf. In this case Clauses 6.1 to 6.4 will not apply and you hereby waive and forgo any and all claims or demands in respect of any loss or damage suffered to the Goods.

7. PHOTOGRAPHS

Unless otherwise agreed at the time of consignment, you will pay for the cost of any photographs of your Goods produced for the auction catalogue. We reserve the right to photograph all Goods unless you specifically request us in writing not to. The copyright in such photographs will be owned by us, along with the text and layout of the auction catalogue. Our charges for photography will vary depending on the number of images we take and the nature of the Goods, but always subject to the minimum charge per Lot set out in Clause 5.3.

8. ESTIMATES

The Estimate for each Lot will be agreed with you prior to an auction and is intended to represent a range that, in our opinion, the Lot may reasonably sell for. The Estimate is not a guarantee of what the actual selling price may be and cannot be relied on as such.

9. MINIMUM BIDS AND OUR DISCRETION

Goods will normally be offered subject to a Reserve agreed between you and us before the auction in accordance with Clause 10. We may sell Goods below the Reserve provided that 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 a “discretion”, we may accept a bid of up to 10% below the formal Reserve.

10. RESERVES

10.1 Goods will normally be offered subject to a Reserve agreed between you and us before the auction in accordance with this Clause 10.

10.2 Reserves must be reasonable and agreed with us at our discretion and may not exceed our low Estimate for that Lot. We may decline to offer Goods which, in our opinion, would be subject to an unreasonably high Reserve (in which case the Goods must be collected in accordance with Clause 21 and carry storage and insurance charges).

10.3 From time to time, and at our sole discretion, if we are selling a collection of Lots for you, we may agree a global reserve price by reference to the cumulative value of either the low Estimates or Reserves of each of the Lots in that collection (“Global Reserve Price”). If the sale of the initial Lot(s) in that collection achieve a Hammer Price in excess of the Global Reserve Price to the point, the Reserves of the subsequent Lots in the collection may be adjusted by such percentage as we may agree in writing.

10.4 Once we have agreed a Reserve, this cannot be changed except with our mutual agreement. In the event that you withdraw Goods following our refusal to change a Reserve the fees and charges outlined in Clause 19.5 will apply.

10.5 Where a Reserve has been agreed, only we may bid on your behalf and only up to one bidding increment (which is set at our sole discretion) below the Reserve. You may in no circumstances bid personally or ask anyone else to bid on your behalf. In the event that you fail to comply with this Clause 10.5, we may, at our discretion, cancel the sale, withdraw the Goods from our auction and/or charge you and/or the person bidding on your behalf the full Price payable as if you were the Buyer of the Lot. In such circumstances, neither you nor your agent may benefit from any of the rights afforded to Buyers under our Terms of Sale or by law. Any decision to re-offer the Lot at auction or by private treaty sale and on what terms will be at our sole discretion. You will be responsible for payment of our reasonable fees and expenses.

10.6 If we have not agreed the Reserve with you prior to the auction, we will set the Reserve at the low Estimate unless we have agreed that the Goods shall be sold without Reserve.

11. ELECTRICAL ITEMS

11.1 You must certify any electrical items that you wish to consign to us for sale using external contractors. We will not accept any Goods that are not certified as safe by an electrician (unless they are antiques).

11.2 If we notify you that we will not accept electrical Goods without a valid electrical safety certificate, you must remove such Goods

promptly at your expense following such notification. If you do not collect the Goods within 5 Business Days our written notice to do so,

Clause 21 will apply.

12. UNSAFE GOODS

If in our opinion any of your Goods, in particular those which are soft furnishings, infringe safety regulations, we have the right not to offer these Goods for sale. You must remove such Goods at your expense. If you do not collect such Goods within 5 Business Days of our written notice to do so, Clause 21 will apply.

13. SELLER’S WARRANTIES AND INFORMATION ABOUT THE GOODS

13.1 In addition to any warranties implied by law, you warrant and undertake to, and where you are acting on behalf of someone else, you will procure that your Principal warrants and undertakes, to us and the Buyer that:

13.1.1 you are the owner of the Goods or are duly authorised by the owner of the Goods to sell them;

13.1.2 if you are the joint owner of the Goods, you will provide us with written confirmation of your co-owner’s identity and your authority to consign the goods on his/her behalf;

13.1.3 you have provided us with all information that you have or know of relating to the provenance, export/import history, condition, attribution, authenticity and any other material characteristics of the Goods (and any additional information that may be relevant), including any concerns expressed by third parties concerning the same;

13.1.4 any information or documentation that you have provided in relation to the Goods is, to the best of your knowledge, complete, correct and up to date and you will let us know promptly, and in any event before the auction, if you find out that is not the case;

13.1.5 the Goods will match any description of the Goods that you provide to us, be of satisfactory quality and fit for purpose; and you will let us know promptly, and in any event before the auction, if you find out that the Goods do not match the description that you provided to us or if any information comes to light that may affect the sale value of the Goods or our agreement to consign them;

13.1.6 if the Goods contain or are made of elephant ivory and/or other material that falls under the CITES Regulation, the UK Ivory Act 2018 and/or equivalent legislation in other jurisdictions, they meet the relevant exemptions and the Goods have been registered and all applicable registration fees have been paid and/or the relevant exemption certificate and/or permit have been obtained in order to sell the Goods, offer or arrange them for sale, advertise and/or display them for sale. The exemption certificate or proof of registration of the Goods on the relevant government website (or through alternative postal and telephone methods prescribed by the government, as applicable) shall be passed to the Buyer upon transfer of ownership to the Buyer in accordance with the Terms of Sale.

13.1.7 as far as you are aware, the main characteristics of the Goods set out in the Receipt, auction catalogue or in the Listing (as amended by any notice displayed in the saleroom, on the Website or announced by us at the auction) are correct;

13.1.8 the VAT status of the Goods declared by you is correct and that items to be sold under the Auctioneers’ Margin Scheme are eligible to be sold under the Scheme as set out in the current appropriate HMRC VAT notices;

13.1.9 unless you have disclosed that the Goods are pledged or otherwise subject to a third party right or interest in accordance with Clause 3.3.7, you have and will continue to have the right and ability to transfer clear and unencumbered legal title and right to possession to the Goods to the Buyer without any restrictions or third party rights or claims;

13.1.10 you have informed us if the Goods or the Proceeds of the Goods are pledged to a third party and provided us with written confirmation from the beneficiary of such Pledge giving authority to sell the Goods and written instructions for settling the Proceeds, acknowledged and agreed by us;

13.1.11 for Goods consigned from outside the UK and to be entered under Temporary Admissions, the following conditions are met:

(i) the Goods are not returned goods to the UK, or were Goods previously exported by you from the UK, (ii) ownership in the Goods has

not changed whilst they were outside the UK, and (iii) the Goods are eligible for importation into the UK;

13.1.12 to the best of your knowledge, the Goods have been lawfully imported and lawfully and permanently (save for Goods imported in the UK under a Temporary Admissions procedure) exported as required by the laws of any country in which the Goods were previously located, any required declarations upon the export and import of the Goods have been properly made, any duties and Taxes on the export and import of the Goods have been paid (save for Goods imported in the UK under a Temporary Admissions procedure) and you have provided us with all documentation available to you;

13.1.13 neither you, nor any agent acting for you, nor your Principal, are engaged in nor, to the best of your knowledge, either under investigation, nor have been charged with nor convicted of: tax evasion, money laundering, terrorist financing or other criminal activities;

13.1.14 neither you, nor any agent acting for you, nor your Principal, are subject to Restrictive Measures or owned, partly owned or controlled by person(s) subject to such Restrictive Measures, and to the best of your knowledge the Goods have not been or are not used by or for the benefit of any person(s) subject to Restrictive Measures;

13.1.15 neither (i) your consignment of the Goods, nor (ii) your sale of the Goods to the Buyer, nor (iii) our, or where applicable the Buyer’s, receipt of the Goods does or will violate the laws or regulations (including Restrictive Measures) of any country in which we, you or the

Buyer operate;

13.1.16 none of the Proceeds will be transferred or used for the benefit of any person(s) subject to Restrictive Measures, unless such activity is authorised in writing by the government authority having jurisdiction over the transaction or in accordance with applicable law or regulation;

13.1.17 you will pay all Taxes and duties potentially due on the sale of the Goods;

13.1.18 you have no knowledge of or reason to suspect that the Goods have any connection to any proceeds of crime, including Tax evasion; and

13.1.19 there are no copyright or other restrictions on the Auctioneer’s rights to produce and publish images of the Property.

13.2 Where you are consigning the Goods as agent on behalf of the owner and you are an Art Market Participant, you warrant and

undertake that:

13.2.1 you have conducted appropriate customer due diligence on the ultimate owner(s) of the Goods in accordance with all applicable Money Laundering Legislation and have obtained and kept a record of documents required to establish your client's identity;

13.2.2 you will provide us or any independent third party auditor (employed at our cost) with any identification and any other relevant documentation you have obtained for customer due diligence purposes on the ultimate owner(s) of the Goods, and evidence of your authority

to act on the owner’s behalf;

13.2.3 you consent to us relying on this due diligence;

13.2.4 you will disclose all material information in relation to the sale of the Goods to the owner;

13.2.5 you are authorised to receive the Proceeds of the Goods on behalf of the owner and will account to the owner for the Proceeds in full prior to deducting any commission or other sums; and

13.2.6 you will retain for a period of not less than five years the documentation evidencing the due diligence.

13.3 Where you are acting on behalf of another person and you are not an Art Market Participant, you warrant that you will provide accurate and complete information about your Principal to us.

13.4 You must inform us immediately should you find out that any of the warranties in this Clause 13.1 are incorrect and/or if any of the information or documentation you have provided to us relating to the Goods is incorrect or incomplete and/or if the Goods do not match the description that you provided to us or the main characteristics of the Goods set out in the auction catalogue or in the Listing.

13.5 You authorise us to pass on the warranties in this Clause 13 to the Buyer and acknowledge that any information that you provide in relation to the Goods may form part of the contract between both of us and the Buyer and you acknowledge that the Buyer may have a statutory right to reject the Goods if the information provided is incorrect.

13.6 If we refund the price of any Goods to the Buyer due to the Goods being a Deliberate Forgery, you will promptly, and in any event within

5 Business Days of receipt of our written demand, reimburse to us in full any Proceeds that we have transferred to you for those Goods.

14. TRANSFER OF OWNERSHIP AND PLEDGED GOODS

14.1 Transfer of ownership of a Lot occurs automatically when we receive payment of the Price in cleared funds from the Buyer, provided that there is continuing compliance by the Buyer with our client due diligence and anti-money laundering requirements.

14.2 In the event that we release the Goods to the Buyer before we have received payment in full of the Price for the Goods, it will be at our sole risk and we will pay you the Proceeds in accordance with Clause 18.3.3.

14.3 In the event that the Goods or all or part of the Proceeds of the Goods are pledged or otherwise subject to a third party right or interest you will advise us of the same and provide written confirmation, acknowledged by us, from the holder of the security or third party right or interest that you are authorised to sell the Goods. We take no responsibility for making payment of any part of the Proceeds to the holder of the security or third party right or interest unless we have received instructions to this effect in writing at the time of consignment and have acknowledged the same in writing.

15. INDEMNITY

You will indemnify, hold harmless and keep us and the Buyer fully indemnified against any and all claims, actions, liability, loss, damage, costs (including reasonable legal fees and any VAT in relation to such fees) and expenses which we may incur or suffer as a result of a breach of any of the warranties under Clause 13 or any of your obligations under these Terms of Consignment whether by you, your Principal, or anyone acting on your behalf, including without limitation, if we are required to refund the Price of any Lot to the Buyer as a result of your breach of these Terms of Consignment or any Lot being a Deliberate Forgery. Your indemnification obligation under this clause shall survive completion of the sale(s) contemplated by these Terms of Consignment.

16. TERMS OF SALE

You agree that the Goods will be sold to the Buyer in accordance with our Terms of Sale for Online Auctions or Terms of Sale for Live Auctions, copies of which will be displayed in the saleroom, on the Website and printed in our auction catalogue, as applicable, and you agree to be bound by those Terms of Sale.

17. AUTHORITY TO DEDUCT COMMISSION, FEES AND EXPENSES AND TO RETAIN PREMIUM AND

INTEREST AND TAX

17.1 Subject to Clause 17.2, you authorise us to deduct our Commission at the stated rate and all expenses incurred on your account from the Hammer Price, plus any applicable VAT. You consent to our right to charge the Buyer and retain beneficially the Premium plus any applicable VAT, other Taxes, duties or fees paid by the Buyer in accordance with our Terms of Sale and any interest earned on the Proceeds until the date of settlement. Additionally, subject to Clause 5.6, you authorise us to deduct from the Price and account for artist’s resale right royalty.

17.2 We have the right to withhold any relevant Taxes and duties from the Proceeds if required by law to pay them on your behalf. You must give us all relevant information about your VAT status and that of the Goods prior to consignment and inform us immediately if your VAT status changes. If any information you give us in relation to your tax status or the tax status of the Goods is incorrect or incomplete, you must immediately on demand reimburse us any sums that we have paid and any costs and expenses that we have incurred as a result.

17.3 In the event of the Goods being pledged to a third party, as described in Clause 14.3, you authorise us to retain an amount equal to the value of the Pledge from the Proceeds and to pay such amount to the beneficiary of the Pledge in accordance with the written instructions that you provide before we pay the balance of the Proceeds to you in accordance with Clause 18.

17.4 You also authorise us to charge the Buyer any fee owed to an independent Bidding Platform or service which has been used by the Buyer when bidding for your Lot, and to pay such fee to the independent Bidding Platform or service.

18. SETTLEMENT

18.1 Where the auction is a Live Auction:

18.1.1 provided that we have received payment for the Goods from the Buyer in cleared funds, and we are satisfied with the outcome of our checks under the Money Laundering Legislation, we will usually pay the Proceeds due to you in the currency of the sale within 35 days of the last day of the auction);

18.1.2 If the Buyer has not paid for the Goods by then (or we have agreed extended payment terms or an instalment plan with the Buyer), we will submit payment to you by no later than 5 Business Days after (i) we have received payment in clear funds and (ii) after the final payment of the instalment. Until we receive cleared funds from the Buyer no settlement will be made; and

18.1.3 If we make payment to your bank account in error, we will request reimbursement by sending you a debit note and you will repay such amounts within 5 Business Days of the date of our invoice.

18.2 Where the auction is an Online Auction:

18.2.1 subject to Clauses 18.2.2 to 18.2.5 and provided that the Buyer has paid for and collected the Goods and we have received payment in cleared funds, and we are satisfied with the outcome of our checks under the Money Laundering Legislation, we will usually pay the Proceeds to you in the currency of the sale within 35 days of the end of the Listing Period;

18.2.2 if you are a Trader and the Buyer is a Consumer habitually resident in the UK or European Union, the Buyer may have the right under the Consumer Rights Directive to cancel the contract for the purchase of Goods from the date of the online auction until the date that is fourteen days after the day on which the Buyer (or his/her agent) took physical possession of the Goods (referred to in this Clause 18.2.2 as the “Cancellation Period”);

18.2.3 if the Buyer validly exercises his/her cancellation rights by notifying us during the Cancellation Period that he/she wishes to cancel the purchase of the Goods (a “Cancellation Notice”), we will promptly notify you in writing;

18.2.4 if Clause 18.2.2 applies, we will pay the Proceeds on the later of (a) 35 days after the last day of the Online Auction; and (b) 3 Business Days after the end of the Cancellation Period, in each case if no Cancellation Notice is received; and

18.2.5 if Clause 18.2.2 applies and we have already paid you the Proceeds but subsequently receive a valid Cancellation Notice from the Buyer, you will promptly, and in any event within 5 Business Days of us notifying you, transfer to us a sum equal to the Proceeds so that we may refund the Buyer. We will not refund the Buyer until the Goods have been returned to us or the Buyer has provided us with proof of shipping the Goods to us. Please note that failure to transfer this sum to us will be a breach of these Terms of Consignment, for which we may take legal action against you. Further information regarding a Consumer Buyer’s right to cancel is set out in the Terms of Sale for Online Auctions.

18.3 In the case of both Live Auctions and Online Auctions:

18.3.1 subject to Clause 14.2, if the Buyer has not paid for the Goods in full and clear funds, we will not release the Goods to the Buyer or submit payment to you. In this case no settlement will be made. We may discuss with you the rights that we may at our discretion exercise under Clause 14 of our Terms of Sale in relation to a Buyer's failure to pay but we are under no obligation in any circumstances to enforce payment by the Buyer or take any legal proceedings on your behalf;

18.3.2 we will not release the Goods to the Buyer until we have completed the necessary checks under the Money Laundering Legislation;

18.3.3 if Clause 14.2 applies, settlement will be deemed to have occurred on the later of the day we release the Goods or, in respect of Live Auctions, 35 days from the last day of the auction, or in respect of Online Auctions, 35 days from the last day of the auction;

18.3.4 we may without notice to you deduct any sums that you owe to us at any time, including in relation to any consignment of Goods to us or any services provided to you, from the Proceeds. Our exercise of our rights under this Clause shall not limit or affect any other rights or remedies available to us under these Terms of Consignment or otherwise;

18.3.5 we may delay paying the Proceeds to you for a reasonable period of time if we are not satisfied about the information that you provided in accordance with Clause 3.3 or any of the matters warranted by you at Clause 13 and we may in our sole discretion decide to delay and withhold payment of the Proceeds to you where (i) we have a legal obligation to do so and (ii) we have reasonable grounds to believe that either you or the Buyer is engaged in money laundering, terrorist financing, Tax evasion, fraud or other criminal behaviour and/or is subject to trade sanctions, embargoes or any other restriction on trade in any jurisdiction; and

18.3.6 we will only pay Proceeds to a bank account in your name and, unless notified in writing that your bank account details have changed, we will make payment to the bank account that you specified at the time of consigning the Goods. We will not be responsible for any payments made to the incorrect bank account if this is because you have not provided us with the new bank account details prior to us instructing payment or if the details provided are incorrect.

19. UNSOLD AND WITHDRAWN ITEMS

19.1 If the Goods are unsold at auction, you authorise us to negotiate a sale by private treaty until the close of business 25 Business Days following the last day of the auction. In this case you will pay to us the same Commission and charges as if such Goods had been sold at auction and, so far as appropriate, these Terms of Consignment will apply to any such sale and any references to Hammer Price and Reserve will be read as references to the sale price.

19.2 In addition to Clause 19.1, we may, with your consent, re-offer unsold Goods at a future auction with us but we may recommend a variation in Estimate or Reserve. Where, in our opinion, Goods are unsaleable, we will notify you and you must collect such Goods from the saleroom within 5 Business Days of the date of our notice to do so in accordance with Clause 21.2.

19.3 You will pay us any illustration or other charges notified to you in writing, including but not limited to illustration or restoration fees, on

any Goods that are unsold at the auction and fail to sell by private treaty as described in Clause 19.1 or at a subsequent auction as described in Clause 19.2.

19.4 In the event that you withdraw Goods following their consignment or request a change in Reserve which we do not agree, you will pay us a charge of:

19.4.1 20% of the Reserve (or our low Estimate if there is no Reserve) plus VAT together with any other charges set out at Clauses 5.2 and 5.3 in cases where the Goods have been researched, catalogued and/or otherwise handled by us but the catalogue has not yet been designed or there are more than 20 Business Days before the auction; or

19.4.2 30% of the Reserve (or our low Estimate if there is no Reserve) plus VAT together with any other charges set out at Clauses 5.2 and 5.3 in cases where the Goods are already included in the designed catalogue or there are less than 20 Business Days before the auction.

19.5 When the seller is an overseas seller, we may be able cancel the VAT charge referred to in Clause 19.4.1 and 19.4.2 above, provided that you provide us with details of your overseas fixed establishment.

19.6 If we have agreed to offer an Advance against the Goods, you undertake not to remove or procure the removal of the Goods held in our possession from our possession or to allow any charge, lien or third party interest to be applied to the Goods while the Advance and any other amounts owed to us are outstanding.

19.7 We will not release any unsold or withdrawn Goods to you prior to receipt in full of any amounts owed to us, including in relation to any Advance paid by us to you on consignment of the Goods.

20. WITHDRAWAL OF THE GOODS BY US AND CANCELLATION

20.1 We may, at our sole discretion, at any time withdraw your Goods from our auction or cancel a sale:

20.1.1 for legal, reputational or operational reasons (including, but not limited to, if you fail to provide evidence to verify your identity or your title to the Goods to our satisfaction);

20.1.2 if we have reason to believe that it is in the best interests of other users of our Website or Bidding Platform to do so (e.g. you have been subject to phishing or hacking);

20.1.3 if we have reason to believe that you may be, or are about to be, in breach of these Terms of Consignment;

20.1.4 if the Goods contain prohibited materials such as ivory and rosewood that fall under the CITES Regulation, the UK Ivory Act 2018 and/or equivalent legislation in other jurisdictions, do not meet the relevant exemptions, have not been registered and/or accompanied by valid certificates where required to sell them or, if we are registering Goods on your behalf, you have failed to supply the information required or failed to pay the administration and/or registration fee;

20.1.5 if we have reason to believe the Goods to be a Deliberate Forgery;

20.1.6 if we deem the Goods to be unsafe for sale or subject to any legal or other restriction that impairs their ability to be sold;

20.1.7 if the condition of the Goods has significantly deteriorated since consignment; and/or

20.1.8 if the Buyer fails to pay for the Goods in full or is unable to pay in a currency that is acceptable to us, at our sole discretion.

20.2 In the event that Clause 20 applies and a Lot has already been sold, you authorise us to accept the return of the Lot. If the Proceeds have already been paid to you, you must repay them in full together with any charges due in accordance with Clause 19.4.2 and any reimbursement due to us under Clause 15 including for any loss, liability, expense, cost or legal fees, within 5 Business Days of receiving a written demand from us. If you fail to return the Proceeds in full, we will be entitled to sell the Lot and retain any proceeds of sale. If the proceeds of sale from re-offering the Goods do not cover the amounts due to us in full, including our fees and expenses, we are entitled to pursue you for payment of any shortfall together with interest and costs.

20.3 In the event that we withdraw Goods prior to an auction, you will be responsible for paying us any charges due in accordance with

Clause 19.4.1 together with any reimbursement due to us under Clause 15, including for any liability, loss, damage, costs (including reasonable legal fees and any VAT in relation to such fees) and expenses which we may incur as a result of your failure to comply with any obligations under our Agreement.

20.4 In the event that we have not completed our enquiries in respect of the source of funds received, anti-money laundering, anti-terrorist financing and other checks we consider appropriate concerning you or the Buyer to our satisfaction, at our discretion, we shall be entitled either not to complete or to cancel the sale of the Goods, as appropriate, and to take any further action required or permitted under applicable law without any liability to you.

21. WAREHOUSING

21.1 We have no liability for Goods that you deliver to us without sufficient sale instructions and we may apply a warehousing charge to such Goods. We reserve the right to charge you a minimum warehousing charge of £10 per Lot per day plus any applicable VAT.

21.2 We will notify you to ask you to remove any of your unsold, unoffered or withdrawn Goods. Unsold, unoffered and withdrawn Goods

will be subject to the charges set out in Clause 21.1 above if you do not remove them within 5 Business Days of the date of our written notice

to do so.

21.3 If you do not comply with Clause 21.2 within 10 Business Days of the date of our written notice, we may either: (a) sell such Goods and set off charges from any Proceeds; or (b) at your expense dispose of such Goods.

22. AUTHORITY TO RETAIN GOODS

22.1 We may retain any Goods consigned by you, whether or not entered into a sale and/or sold for a reasonable period in the

following circumstances:

22.1.1 we are completing our client due diligence enquiries in accordance with Clause 3.3;

22.1.2 we have reason to believe that there may be competing claims to title of any Goods or third parties may have an interest in them;

22.1.3 we are not satisfied that the information supplied about the Goods is correct or complete; or

22.1.4 in order to comply with our legal obligations.

22.2 Where Clause 22.1 applies, we may charge you storage fees in accordance with Clause 21.1.

22.3 We are entitled to retain by way of lien any Goods consigned by you, whether or not entered into a sale, where you have failed to pay or reimburse us for any sums due to us including where you have failed to pay the Price of any Lot that you have purchased from us.

23. RIGHT TO CANCEL

23.1 If you are a consumer habitually residing in the UK or European Union and you have entered into these Terms of Consignment entirely at a distance (online, over the phone or by email), you have the right to cancel these Terms of Consignment within 14 days in accordance with Clause 23.2 without giving any reason.

23.2 The cancellation period will expire at the end of 14 days from the day that the contract between us is entered into (referred to in this Clause 23 at the “Cancellation Period”). To exercise the right to cancel, you must inform us of your decision to cancel this contract by a clear statement sent by signed for post or email to us at our contact details set out in these Terms of Consignment. You may use the model cancellation form set out at the end of this Clause 23, but it is not obligatory. To meet the cancellation deadline, it is sufficient for you to send your communication within the Cancellation Period even if we do not receive it before the Cancellation Period has expired.

23.3 If you cancel this contract, we will reimburse you all payments received from you unless you asked us to start work during the Cancellation Period (see Clause 23.4 below). We will make the reimbursement without undue delay, and not later than 14 days after the day on which we are informed about your decision to cancel this contract, using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise. In any event, you will not incur any fees as a result of the reimbursement.

23.4 We will not start work until you have accepted our Terms of Consignment and we will not perform any services during the Cancellation Period unless you expressly request us to (and this may be required in writing). If you request that we begin the performance of services during the Cancellation Period, you shall pay us an amount which is in proportion to what has been performed until you have communicated to us your cancellation from this contract. You will lose the right to cancel and have to pay us in full once the services under the contract have been fully performed even if this happens within the Cancellation Period.

23.5 Model cancellation form:

To Sale Administration Team, Olympia Auctions Ltd, 25 Blythe Road, London W14 0PD, enquiries@olympiaauctions.com

I/We [*] hereby give notice that I/We [*] cancel my/our [*] contract of sale for the supply of the following service [*]:

Date of registration for the service [*]:

Name of consumer(s):

Address of consumer(s):

Signature of consumer(s) (only if this form is notified on paper):

Date:

[*] Delete as appropriate

24. OUR DISCLAIMERS AND OUR LIABILITY TO YOU

24.1 Nothing in these Terms of Consignment limits our liability for:

24.1.1 death or personal injury resulting from negligence (as defined in the Unfair Contract Terms Act 1977);

24.1.2 fraudulent misrepresentation; or

24.1.3 any liability which cannot be excluded by law.

24.2 Subject to Clause 24.1, we will not be liable to you for any of the following:

24.2.1 We will not be liable to you for any loss of opportunity or disappointment suffered as a result of participating in our auction;

24.2.2 any mistakes, errors or omissions, whether in writing or orally, in appraising or describing the Goods or cataloguing of Lots or any information provided to Bidders, Buyers or included in our marketing material;

24.2.3 any Lot failing to sell or any Buyer failing to pay for a Lot once sold;

24.2.4 any loss of: profits, sales, business, agreements, contracts, anticipated savings, opportunity, damage to goodwill; or

24.2.5 indirect or consequential loss.

24.3 If, despite the terms above, we are found to be liable to you for any reason, our liability will be limited to the Proceeds due for the Goods

if sold or the Reserve or low Estimate if unsold.

24.4 The Website and the Bidding Platform are provided by us or our service providers without any warranties or guarantees. All users of our Website and/or the Bidding Platform bear the risks associated with the use of the internet.

24.5 Both our Website and the Bidding Platform provide content from users, internet sites or resources. While we try to ensure that material included on our Website and/or the Bidding Platform is correct, reputable and of high quality, we accept no responsibility if this is not the case. Except as expressly set out herein, we will not be responsible for any errors or omissions or for the results obtained from the use of such information or for any technical problems users may experience with the Website or the Bidding Platform. If we are informed of any inaccuracies in the material on our Website or the Bidding Platform we will attempt to correct the inaccuracies or ask our service providers to do so as soon as we reasonably can.

24.6 You acknowledge that our Website and any Bidding Platforms are provided as is for public use, subject to registration. Registration is free of charge and as such we have no responsibility to you or users of our Website and/or any Bidding Platforms for any downtime or errors on our Website or the Bidding Platform. If, because of errors on our Website or the Bidding Platform, an auction cannot be completed, our only responsibility to you is to enable you to re-list the Goods once our Website or the Bidding Platform returns to functionality.

25. NOTICES

25.1 All notices or other communications between you and us regarding these Terms of Consignment must be in writing and signed by or on behalf of the party giving it.

25.2 Any notice referred in Clause 25.1 may be given:

25.2.1 by delivering it by hand;

25.2.2 by first class pre-paid post or Recorded Delivery; or

25.2.3 by email, provided that a copy is also sent by first class pre-paid post or Recorded Delivery. A notice given by email will be deemed to be signed for the purposes of this Clause 25 if the name of the sender appears in a signature position after the body of the email and has not been added automatically by the sender’s email server.

25.3 Notices must be sent:

25.3.1 by hand, by first class pre-paid post or Recorded Delivery:

(a) to us, at our address set out in these Terms of Consignment or at our registered office address appearing on our Website; and

(b) to you, at the last postal address that you have given to us as your contact address in writing.

25.3.2 by email:

(a) to us, by sending the notice to the following email address: enquiries@olympiaauctions.com, marked for the attention of our Sale Administration Team;

(b) to you, by sending the notice to any email address that you have given to us as your contact email address in writing.

25.4 Notices will be deemed to have been received:

25.4.1 if delivered by hand, on the day of delivery;

25.4.2 if sent by first class pre-paid post or Recorded Delivery, two Business Days after posting, exclusive of the day of posting; or

25.4.3 if sent by email, at the time of transmission unless sent after 17.00 in the place of receipt in which case they will be deemed to have been received on the next Business Day in the place of receipt (provided that a copy has also been sent by pre-paid post or Recorded Delivery as set out in Clause 25.3.1).

25.5 Any notice or communication given under these Terms of Consignment will not be validly given if sent by fax, any form of messaging via social media or text message (including WhatsApp).

26. DATA PROTECTION

We will hold and process any personal data in relation to you in accordance with our current privacy policy, a copy of which is available on our Website.

27. GENERAL

27.1 Each of the Clauses of these Terms of Consignment and the Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining Clauses will remain in full force and effect.

27.2 We may change these Terms of Consignment from time to time, without notice to you. Please read these Terms of Consignment carefully, as they may be different from the last time you read them.

27.3 The Agreement shall be binding on the parties’ respective heirs, beneficiaries, executors, successors and assigns, but neither party may assign the Agreement without the prior written consent of the other party.

27.4 Except as otherwise stated in these Terms of Consignment, each of our rights and remedies: (a) are in addition to and not exclusive of any other rights or remedies under these Terms of Consignment or general law; and (b) may be waived only in writing and specifically. Our delay in exercising or non-exercise of any right under these Terms of Consignment is not a waiver of that or any other right. Our partial exercise of any right under these Terms of Consignment will not preclude any further or other exercise of that right or any other right under these Terms of Consignment. Our waiver of a breach of any term of these Terms of Consignment will not operate as a waiver of breach of any other term or

any subsequent breach of that term.

27.5 No person other than you, the Buyer or us will have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any of

the terms of the Agreement.

27.6 Both of us agree to keep the terms of the Agreement private and confidential and not to disclose them to any person except to our employees, officers, representatives or professional advisers or as required by law. Neither party shall use the other party’s confidential information for any purpose other than in the exercise of rights and performance of obligations under or in connection with the Agreement.

27.7 The Agreement is the entire agreement between us concerning the consignment of the Goods and replaces any other agreements, representations or understandings between us, whether written or oral, relating to the consignment of the Goods.

27.8 The Agreement and any dispute or claim arising out of or in connection with it (including any non-contractual claims or disputes) shall be governed by and construed in accordance with the laws of England and Wales and the parties irrevocably submit to the exclusive jurisdiction of the English Courts.