Terms & Conditions – Buyers
This document should be read carefully by all prospective buyers. It provides important information and contains additional terms applicable to you as a potential buyer at our auctions. It should be read in conjunction with our Conditions of Sale for Public Auctions (“Conditions of Sale”) which are available on our website or will be provided upon request.
Terms used in this document shall have the same meaning as defined in the Conditions of Sale.
1.1 All of our auctions and sales are conducted on our printed Auction Terms and Conditions, which include Conditions of Sale for Public Auctions and the terms set out in this document.
1.2 Any particular auction and/or any particular Lot in an auction may be subject to different or additional terms which will be published in our auction catalogue or separately announced prior to the auction. By bidding at the auction, you agree to be bound by these terms.
1.3 The principle of caveat emptor applies to the sale of all good sold at auction by us. This means it is your responsibility to investigate the Lots on which you bid to determine the validity, authenticity, quality and condition of such items prior to purchase.
1.4 Private treaty sales made under these Conditions are deemed to be sales by auction for purposes of consumer legislation.
We act as agents for the Seller only whose identity for reasons of confidentiality, is not normal disclosed. We cannot be held responsible for any defaults by the Sellers. Accordingly if you buy at auction your contract for the item or items purchased is with the Seller and not with us as the auctioneer.
3. DESCRIPTIONS AND CONDITION
3.1 Reasonable endeavours are made to ensure the accuracy of any statement as to authorship, attribution origin, date, age, provenance and condition of any Lot whether or not such statement forms part of the description of any such Lot.
3.2 Prospective buyers bid on the understanding that descriptions involve matters of opinion, not a statement of fact and is provided as a service to the Seller. Prospective buyers are given the opportunity to view and inspect before sale and they (and any independent experts on their behalf) acknowledges that they have satisfied themselves as to the accuracy of description and condition applied to a Lot.
3.3 We, nor our employees or agents nor the Seller, accept liability for the correctness of such opinions and all conditions and warranties whether relating to description, condition or quality of Lots, express, implied or statutory are hereby excluded. The absence of a report does not imply that a Lot is without imperfections. We are not liable for damage to gilded picture frames, plaster picture frames or picture frame glass. All Lots are sold as seen. We recommend that you always view a Lot in person.
4. CONDITION REPORTS
4.1 These are provided upon request. Large numbers of such requests received shortly before the sale may mean that reports cannot be provided for all Lots. Members of staff are not trained restorers or conservators and, particularly for higher value Lots, you should obtain an opinion from such a professional.
4.2 If a Lot is, or becomes dangerous, we may dispose of it without notice to bidders in advance in any manner we see fit and will be under no liability for doing so. We are dependent on information provided by the Seller about a Lot and whilst we may inspect Lots and act reasonably in taking a general view about them we rely on some information from the Seller.
4.3 Please note carefully the exclusion of liability for the condition of Lots contained in the Conditions of Sale. Neither the Seller nor we, as the auctioneers, accept any responsibility for their condition. All references to signature, inscriptions and dates refer to the present state of the work.
4.4 Dimensions are given in height before width and do not include the frame (unless stated).
4.5 Pictures, unless stated, are framed. Pictures will not have been removed from their frames unless specifically mentioned in the condition report (if in the event the item is unsold we must return it to the Seller in the same condition in which it was received by us). Additionally, in specified circumstances Lots misdescribed because they are ‘deliberate forgeries’ may be returned and repayment made. There is a 21 day time limit. (The expression ‘deliberate forgery’ is defined in our Conditions of Sale).
Please note the colours portrayed in the catalogue, and in additional images requested, are the best attempt at a likeness but cannot be confirmed as identical to the true colours.
Estimates are designed to help buyers 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 sale price. The lower estimate may represent the reserve price and certainly will not be below it. Estimates do not include the Buyer’s Premium or VAT (where chargeable). Estimates are prepared some time before the sale and may be altered by announcement before the sale. They are in no sense definitive.
7. BUYER’S PREMIUM
The Conditions of Sale forming part of our Auction Terms and Conditions require the buyer to pay a ‘buyer’s premium’ on the hammer price of each Lot purchased. The buyer’s premium is 25% of the hammer price (+ VAT only on the Buyer’s Premium).
8.1 A asterisks symbol (*) indicates that the Lot is a zero rated item and therefore not subject to VAT on the buyer’s premium. This applies to bound books (manuscripts and printed), unframed maps and albums. A dagger symbol (†) indicates that VAT is payable by the purchaser at the standard rate (presently 20%) on the hammer price as well as being and element in the buyers’ premium. This imposition of VAT is likely to be because the Seller is registered for VAT within the European Union and is not operating the Dealers Margin Scheme or because VAT is due at 20% on import into the UK.
8.2 A double dagger (ǂ) indicates that the Lot has been imported from outside the European Union and the present position is that these Lots are liable to a reduced rate of Import VAT currently 5% on the hammer price. (Ω) indicates that the Lot has been imported from outside the European Union and these Lots are liable to the standard rate of Import VAT currently 20% on the hammer price. Lots which appear without the above symbols indicate that no VAT is payable on the hammer price; this is because such Lots are sold using the Auctioneers Margin Scheme and it should be noted that the VAT included within the buyers’ premium is not recoverable as input tax.
9. EXPORT OF GOODS
Buyers intending to export goods should ascertain (a) whether an export licence is required and (b) whether there is any specific prohibition on importing goods of that character because, as an example, they may contain prohibited materials such as ivory. Ask us if you need help.
10.1 Attending the Auction. Bidders in the room will be required to register before the sale commences and Lots will be invoiced to the name and address on the sale registration form. Bidders are required to provide a government issued identity document and a proof of address. Instructions on anti-money laundering may also be required. Paddle numbers will be issued at registration which will be used only for this sale. This paddle may be used to indicate your bids to the Auctioneer during the Sale. If successful, the Prospective Buyer must ensure that the Auctioneer can see the number as indicated on the paddle and that it is their number called out. Should there be any doubts as to price or Buyer, pease draw the Auctioneer’s attention to it immediately. No liability shall be accepted for failure to rectify an error during a Sale.
10.2 Telephone Bidding. Requests for Telephone bidding must be registered by close of business on the day before the sale and are allocated on a first come first service basis. Full name, address and telephone numbers will be required together with proof of identity and address. Bank and credit/debit cards details may be requested to secure the line.
10.3 Absentee Bids. Commission/Absentee bids may be left with the Auctioneers indicating the maximum amount to be bid (excluding buyers’ premium). We will add these bids to the Auctioneers’ sale book and they will be executed as cheaply as possible having regard to the reserve (if any) and competing bids. If identical bids are submitted, the person who bid first will take precedence. We shall not be liable for failing to execute commission bids, or for any errors or omissions. All arrangements are therefore made entirely at the Prospective Buyer’s risk.
10.4 Online Bidding. Bidding can be done through ‘Easylive’ or ‘the-salesroom.com‘ Bidding on these sites is directly through the relevant platforms where you will have to register. Purchasing through these online bidding sites will be subject to an additional charge. Please refer to the individual bidding platforms for their terms and conditions. In completing the bidder registration and providing your credit card details and unless alternative arrangements are agreed with us you:
a. Authorise us, if we wish, to charge the credit card given in part or full payment, including all fees, for items successfully purchased in the auction via the online bidding platforms
b. Confirm that you are authorise to provide these credit card details to us and agree that we are entitled to permit the shipping of the goods to the card hold and card holder address provided in fulfilment of the sale; and
c. Agree that we shall not be liable for any losses, however arising, for usage of the online bidding platforms which operate pursuant to its own terms and conditions.
11. Methods of Payment
11.1 Payment will be accepted, if you are a successful bidder, by bank transfer direct into our bank account, by debit card issued in the name of the Buyer by a UK bank and registered to a UK billing address; by all major UK issued credit cards issued in the name of the Buyer and registered to a UK billing address (up to £1000), or in cash up to £8,000 (subject to relevant money laundering regulations).
11.2 The name of the bank account holder should match the name of the buyer. Payment may also be made by sterling personal cheques drawn on a UK bank account and made payable to ‘PARKER FINE ART AUCTIONS LTD’ . Purchases paid for by this method cannot be collected until your cheque has cleared. First time buyers who are not present at the saleroom are requested to pay by bank transfer.
11.3 Payment can be made and purchases collected during the auction. All accounts must be settled within 14 days of the sale. Accounts not paid within 14 days will automatically be subject to an interest change of nor more than 1.5% per month from the day of sale.
Wire transfers should be sent to:
Sort code: 201143
Account number 83710246
Account Name Parker Fine Art Auctions Ltd (Client Account)
IBAN: GB04 BUKB 20114383710246
Monies from wire transfers and cheques must be cleared for twenty four hours into our account before items may be collected.
12. COLLECTION AND STORAGE
12.1 Before being able to collect purchases you are required to pay the hammer price, plus the applicable commissions, and obtain a receipt acknowledging payment. Collection of the purchased Lots is at the purchaser’s risk and expense.
12.2 Once payment for Lots has been received, collection or transportation of purchased Lots must be made within fourteen days of the sale to avoid storage charges. Storage charges will be levied on all Lots not collected within fourteen days of the sale. This will include a storage charge of £5 plus VAT per Lot per day.
12.3 If arranging professional delivery, the Lot must have been paid for and the transport company has full details of the items to be collected.
13. ARTIST’S RESALE RIGHT CHARGES
Artist’s resale right charges will be paid by the Seller.
14. TRANSFER OF RISK
The risk in the Lot shall pass to the Buyer upon completion of the Sale by us, we are not responsible for the correct description, genuineness or authenticity of any Lot as per these conditions. The Buyer is deemed to have inspected each Lot and satisfied himself/herself to the condition.
15. OWNERSHIP OF THE LOT
Title to the Lot (s) purchased will not pass to the Buyer until the Buyer has paid us in full the total amount due pursuant to these conditions and we have applied such payment to the Lot.
16. UNCOLLECTED ITEMS
If the buyer has failed to collect within a period of two months (from sale date), we reserve the right to re-enter the uncollected items through auction, to recover the cost of storage and associated costs. At this time the buyer relinquishes all claims to ownership and any right to financial compensation.
It is the Buyer’s responsibility to obtain the correct import/export licenses. We take no responsibility for the export of goods which have been bought.
18. DUE DILIGENCE CHECKS AND ANTI-MONEY LAUNDERING PROCEDURES
18.1 Under the money laundering regulations in force we are required to carry out relevant due diligence checks. This includes verifying the identity of all customers we transact with as well as any beneficial owners on behalf of whom they may transact.
18.2 Buyer who are unable to, or refuse to, supply required identification documents and proof of address will not be able to buy from Parker Fine Art Auctions Ltd’s auctions.
18.3 Copies of customer due diligence checks will be stored for as long as it is necessary to satisfy legal requirements in an appropriate storage facility, which for the avoidance of doubt may include storage solely in electronic form.
18. TERMS OF DESCRIPTION
The forename(s) (or asterisks where not know) and surname of the artist indicates, in our opinion, an original work by the artist named. The initials of the forename(s) and the surname of the artist indicates in our opinion a work of the period of the artist which may be wholly or in part his/her work.
‘Attributed to…’ In our opinion probably a work by the artist, but with less certainty as to authorship in whole or part.
‘Studio of …’ In our opinion a work by an unknown artist in the studio of the artist, possibly under the artist’s direction.
‘Circle of …’ In our opinion a work of the period, by an unknown artist with the artist’s influence.
‘Style of …’ In our opinion a work at a later date, by an unknown artist following the artist’s style.
‘Follower of …’ In our opinion a work at a much later date, by an unknown artist following the artist’s style.
‘Manner of …’ In our opinion a work at an unknown date, by an unknown artist following the artist’s style.
‘After …’ In our opinion a work at a later date, by an unknown artist copying a work of the artist.
‘Signed, Dated & Inscribed’ In our opinion the signature, date and inscription are from the hand of the artist.
‘Highlighted Signature’ In our opinion the signature is/are from the hand of the artist, in whole or part, that may have been restored.
‘Bears a Signature’ In our opinion the signature is not by the artist and has been added by another hand/hands at a later date.
‘Oil Painting’ In our opinion is painted in oils or acrylic.
‘Mixed Media’ In our opinion a mixture or combination of part, some or all of the following – Oil, Watercolour, Gouache, Pencil, Ink or Print.