Elite Auctions
Buyer's Premium: You will pay a premium of 15 per cent plus VAT (18% in total)
Lots purchased online with www.easyliveauctions.com will attract an additional charge for this service please ensure you read and agree to their terms and conditions.
Shipping:
Shipping/Delivery is entirely at the discretion of the Auction House. We suggest contacting the Auction House before placing a bid to ensure delivery is possible. 01924 366400
Terms & Conditions
TERMS OF BUSINESS
GENERAL
1. Definition
Elite Auctions are referred to as Elite throughout these Terms of Business. The representative of Elite conducting the auction is referred to as the “Auctioneer”
2. Attribution and Condition of Lots
Every effort is 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. Whether any such statement is made orally or in the catalogue it is an expression of opinion given after careful consideration and research. Each buyer by making a bid for a lot acknowledges that they have satisfied themselves fully as to the attribution and condition of the lot. In respect of pictures, it should be noted that these have not been removed from their frames unless specifically mentioned in the Condition Report. If any damage is done to any lot at the viewing or before, during or after the sale, such damage shall be made good by the person committing such damage, principals being responsible for the acts of their servants, such damage to be assessed by Elite.
3. Third Party Liability
Every person on Elite premises before, during or after a sale shall be deemed to be there at their own risk and shall have no claim against Elite in respect of any injury they may sustain or any accident which may occur.
4. Disputes
Any dispute not herein proved for shall be settled at the sole discretion of Elite.
THE SELLER
5. Payment
The “net sale proceeds” received from the buyer in cleared funds will be forwarded to the vendor no later than 28 working days after the auction (Elite endeavour to settle non-catalogue sales within 14 working days after the auction). Where the buyer makes a payment more than 23 working days after the auction Elite shall send to the vendor the “net sale proceeds” within 5 working days of receipt of cleared funds. The “net sale proceeds” are the hammer price less commission and expenses set out in the Property Receipt and Instruction Form. The vendor waives any right to interest that may be earned during the period from payment by the buyer to receipt of the “net sale proceeds” by the vendor.
THE BUYER
6. The Buyer
The highest bidder acknowledged as such by the Auctioneer will be the buyer. If any dispute arises, the Auctioneer shall have absolute discretion to settle the matter. The Auctioneer shall rule the bidding and no bid shall be retracted. The Auctioneer reserves the right to refuse any bid. The bidder in the room who is successful in purchasing any lot or lots is entirely responsible for paying for such lot or lots in accordance with Elite’s Terms of Business. Purchases made on behalf of a third party are entirely the responsibility of the bidder in the room. The Auctioneer reserves the right to bid on behalf of the vendors for any lot and to withdraw, consolidate or divide any lot or lots.
7. Registration
Prospective buyers need to register before the sale, giving their full name, address, contact telephone number(s) and email address. First time buyers will be required to provide proof of identity (i.e. driving licence/passport), a valid debit or credit card and a copy of a utility bill or a document showing their name and address. Upon receipt of the above a paddle will be issued, which is only valid for the current sale. This card may be used to indicate your bids to the Auctioneer during the sale. If successful, the bidder must ensure that their number can be seen by the Auctioneer and that it is their number that is called out. Should there be any doubts as to price or buyer, please draw the Auctioneer’s attention to it immediately.
8. Buyer’s Premium
A buyer’s premium of 15% of the hammer price is payable on each lot in auctionis subject to VAT at the current rate.
9. Value Added Tax
All charges are subject to VAT at the current rate.
10. Auctioneers’ Margin Scheme
The Auctioneers Margin Scheme allows auctioneers to sell items without VAT on the hammer price. Under the Auctioneers Margin Scheme an amount equivalent to VAT at the current rate is added to the buyer’s premium. This amount cannot be refunded. The VAT element will not be shown separately on the buyer’s invoice.
11. Payment
Payment is due immediately after the auction in pounds sterling.
The following methods of payment may be used:
Bankers draft, cashiers cheque, personal cheque, travellers cheques, debit and credit cards and cash up to a sterling equivalent of £9,000.
Wire transfers should be sent to:
Natwest 56 Westgate,Wakefield, WF1 1XF
Sort Code: 55-70-23
Account no: 83296859
Account name: Elite Auctions
IBAN GB77NWBK55702383296859
Credit cards: Visa or Mastercard for which there is a 2.5% surcharge plus VAT
Debit cards: Delta, Switch, Connect.
Payment can be made and purchases collected during the auction. Accounts not paid within 14 days will automatically be subject to an interest charge of 5% above base rate from the day of sale.
12. Internet Bidding
Lots purchased online with www.easyliveauctions.com will attract an additional charge for this service please ensure you read and agree to their terms and conditions.
13. Ownership of Purchases
The ownership of the lot(s) purchased will not pass to the buyer until the buyer has paid Elite in full the total amount due and Elite have applied such payment to the lot.
14. Transfer of Risk
Each lot shall be the buyer’s sole responsibility from the fall of the hammer and shall be sold with all faults and imperfections, Elite not being responsible for the correct description, genuineness or authenticity of any lot and making no warranty whatsoever. The buyer is deemed to have inspected each lot and satisfied himself as to its condition. In specific circumstances, a lot incorrectly described which proves to be a forgery may be returned to Elite within 14 days of the sale and a full refund made.
15. Commission Bids
If instructed, Elite will execute bids and advise prospective buyers. This service is free. Lots will always be purchased as cheaply as is allowed by such other bids and reserves as are on the Auctioneer’s book. In the event of identical bids, the earliest will take precedence. There must always be a maximum limit indicated, ie the amount to which the buyer would bid if they were attending the auction themself. “Buy” or unlimited bids will not be accepted. Commission bids placed by telephone are accepted at the client’s risk. Elite urge their clients to place such commission bids within one hour of the close of the view day.
16. Telephone Bids
Requests for telephone bidding must be registered one hour prior to the close of the view time 12pm . Lines are booked on a first come first served basis. Full name, address and telephone numbers will be required together with proof of identity and address. Bank and credit/debit card details are also necessary to secure the line. If we are unable to contact you we will bid up to the lower estimate on your behalf.
17. Absentee Bidding
Whilst every effort will be made to execute absentee bidding, Elite cannot be held responsible for any default or neglect in connection with this service. All such arrangements therefore are made entirely at the prospective buyer’s risk.
18. Storage and Collection
Please note furniture, carpets, clocks and larger works of art lots will remain in the salerooms for seven working days following each sale, after which they will be removed to store and arrangements for collection must be made in advance.
Storage charges will be levied on all lots not collected within fourteen days of the sale. This will include a handling fee of £5 per consignment as well as a storage charge of £5 per lot per day. No goods may be collected until these charges have been paid.
DROIT DE SUITE ROYALTY CHARGES
From 14 February 2006 all United Kingdom art market professionals (which includes auctioneers) are required to collect a royalty payment for all works of art that have been produced by living artists, and those who have died with the last 70 years. This payment is calculated on qualifying works of art which are sold for a hammer price more than the UK sterling equivalent of €1,000 (the UK sterling equivalent will fluctuate in line with prevailing exchange rates.
It is the responsibility of the buyer to acquaint themselves with the actual Euro to UK sterling exchange rate on the day of the sale. The actual qualifying threshold will be calculated by the Artist’s Resale Right Service Hub based on the European Central Bank reference rate published at 2.15pm on the day of the sale, and can be found on www.dacs.org.uk.
Vendor’s Commission
You will pay 15 per cent plus vat of the hammer price on each lot which sells.
Lot Fees are charged at £1 plus vat per lot and will be charged if sold or unsold
Electrical Testing
All electrical items must meet current Trading Standards legislation which means they must be tested for safety. We charge £1 per lot to test electrical equipment. We reserve the right to dispose of unsafe equipment without your prior permission.
Advertising
We do not charge for advertising unless this is specifically agreed in advance with you.
Withdrawing from Sale
If you change your mind about selling your goods, we will charge 20 per cent of the estimated sale value or the reserve, plus any costs we have incurred.
Collection and Storage Charges
We offer a collection service charged at £30 plus vat per hour and storage charges subject to quote
Unsold Lots
Unsold lots which you do not wish to re-offer for sale are stored free of charge for seven working days after which a charge of £5 plus VAT per item per day is applied.
Payments
Once your buyer’s funds have cleared in our account we aim to pay you no later than 14 working days after the auction.
If your buyer pays more than 23 days after the auction, we will pay you within 5 days of the funds clearing.
We do not pay interest on the period between your buyer’s payment and your receipt of the payment.
Please remember that you will have to pay certain charges on your sale.
Buyer Default
We act as agents and cannot be held responsible if your buyer does not pay. We cannot pay you until we have received cleared funds.
