Online Timed Auctions Conditions of Sale

Click on one of the headings below to view the full Online Timed Auctions Conditions of Sale. Please ensure you have read and understood the terms and conditions before bidding on an item. 

1. DEFINITIONS

In these conditions the following terms have the following meanings unless inconsistent with the context:

  • “Auctioneers” means Stags.
  • “Host” means Bidpath Online Auction Software & Services – The software providers for this auction.
  • “Buyers Premium” means the premium charged to buyers on purchase of Lots.
  • “Commission” means the commission charged on the sale of Lots.
  • “Conditions” means the standard terms and conditions of business set out in this document.
  • “Lots” means all or any machinery and other items sold or intended to be sold in accordance with these conditions.
  • “Purchaser” means a person, firm or Company who purchase any Lot.
  • “Vendor” means a person, firm or Company who puts forward any Lot intended to be sold at the sale.
  • “Sale” means a sale of the Lots by auction from time to time organized by the auctioneers.
  • “Storage Location” means the venue at which the specific lot is stored during the sale period and is available for viewing (Please note Stags Auctioneers will not always be able to attend viewings along with purchasers).
  • “Sale Price” means the price at which a Lot is sold to the winning buyer.
  • “Sale Proceeds” means the net amount due to the Vendor being the Sale price of the lot sold less commission and expenses and any other amounts due to the Auctioneer by the Vendor in whatever capacity and howsoever arising.
  • “Reserve Price” means the minimum price fixed by either the Auctioneers or Vendor at which any Lot is to be sold in the sale.
  • “Auction Period” means the duration of the timed auction as advertised.  Any time periods running from the end of the Auction Period commence at the closing time of the Auction Period.

Except where the context otherwise requires words denoting the singular include the plural and vice versa;  words donating one gender includes all genders, words denoting persons include corporations.

2. CONDITIONS OF SALE

  1. All persons registered to bid in any capacity are deemed to bid on the understanding that they have read and understood these Conditions.  These Conditions may be supplemented or superseded by Special Conditions applicable to specific Sales, any such special conditions will be noted within the descriptions of specific lots or on under the sale terms & conditions notes.
  2. No employee or agent of the Auctioneers has any authority to vary these provisions or the Conditions of Sale.
  3. Any dispute arising under this Contract or the Conditions of Sale shall be determined in the first instance by the Auctioneers whose ruling shall be binding on the conduct of the auction. If such an issue including any dispute under Clause 10 remains in dispute after the auction it may be referred by the Buyer the Seller or the Auctioneers to arbitration or if the parties agree to independent expert determination within the period of ten Working Days starting on the date of the Sale by a person agreed between the parties in dispute or failing such agreement by a person appointed by the President of the Central Association of Agricultural Valuers on the application of any of the parties within that time paying such fee as may be charged for that service. The parties agree to meet the professional fees and costs of that person as he shall direct and to be bound by his award both as the matter of the dispute and as to the parties’ costs.
  4. Any indemnity under this Contract shall be an indemnity in respect of all actions proceedings and costs including legal costs expenses claims and demands whatever incurred or suffered.

3. HEALTH AND SAFETY

  1. All persons viewing a lot do so at their own risk and with notice of the condition of the premises and their contents.
  2. All persons viewing a lot are hereby made aware that there may be significant risks at the Storage Location including moving machinery and equipment; Caution should be exercised at all times and children and animals/pets must be fully supervised at all times.
  3. All persons viewing a lot must take notice of all specific health and safety notices on display at individual sites. If in doubt, please consult the Auctioneer in charge or the owner of the site.
  4. Any accidents or incidents that occur on the Storage Location must be immediately reported to Stags and the Vendor and details recorded in the appropriate accident books. No powered machinery or equipment should be started without the prior approval of the Auctioneers & the vendor.
  5. Any vehicles brought onto the Storage Location to collect lots should be operated with extreme caution and within a 5mph speed limit.  Loading using machinery should only be undertaken by suitably qualified and experienced operators. All loading and unloading of items is carried out at the purchasers risk and arrangements to ensure safety at all items should be in place. 
  6. The Auctioneers shall have the right at their discretion to refuse admission to their premises or those of their clients by any person.

4. AUCTIONEERS STATUS

  1. The Auctioneers sell as agents for the Vendor except where they are stated wholly or partly to own any Lot as principal.
  2. The parties to the contract of sale are the Vendor and the Purchaser and the Auctioneers as such are not responsible for any default by Vendor or Purchaser.
  3. The Auctioneers includes any employee or agent of the Auctioneers who at the relevant time has the authority to conduct an auction sale.
  4. The auctioneer may announce or publish any statements made and supplied by the seller if they see fit.
  5. The auctioneer retains the right to refuse bids, divide or combine lots, to withdraw lots from the auction, or re-offer a lot for sale in the case of a dispute.


5. EXCLUSION OF LIABILITY

  1. The Auctioneers shall not be liable for any expense, loss, claim or proceedings in respect of any loss, damage or injury whatsoever to any property real or personal (including any Lots) whether incurred before, during or after the Sale.
  2. The Auctioneers shall not be liable for any expense, loss, claim or proceedings in any respect or personal injury to or death of any person arising out of or in the course of or caused by the Sale, except to the extent that the same is due to the negligence of the Auctioneers, their servants or agents.

6. WARRANTY

In case of dispute as to the interpretation of these Conditions the decision of the Auctioneers shall be final and binding on all parties save as provided for in Clause 2(iii).

7. RESERVATIONS

The Auctioneers sell as agent for the Vendor and as such are not responsible for any default by the Vendor or Purchaser.

8. CATALOGUES AND ADVERTISEMENTS

  1. All statements contained in the catalogues and adverts as to any lot are made without responsibility on the part of the Vendors or the Auctioneers, and such statements as to authenticity, genuineness, age, condition or quality, of any lot, are statements of opinion, and are not to be taken as statements or representations of fact.
  2. The auctioneers cannot be held liable for any costs incurred by any person in reliance of the description of a lot, all purchasers should view lots in the flesh or ensure they have satisfied themselves that all descriptions and facts stated are in fact reliable. Similarly, auctioneers cannot be held liable for costs incurred in travel or time should a lot be withdrawn from the auction without purchaser notification.

9. RESERVE PRICE AND BIDDING

  1. No person may bid without warranting their identity to the Auctioneers.
  2. Any person intending to bid as an agent for a potential Buyer must notify the Auctioneers in advance of the Sale and confirm the arrangements for payment of the goods to the satisfaction of the Auctioneers.
  3. The Auctioneers may accept written instructions to bid on behalf of any prospective Buyer but with no liability in the case of any error arising out of such instructions. Any instructions accepted shall be at the risk of the prospective Buyers who will be deemed to have viewed the Lot. The Auctioneers accept no responsibility in connection with the commissioning of their staff to bid for a Lot. It is the responsibility of the Bidder to ascertain if he has been successful.
  4. The Auctioneers may at their discretion make arrangements to receive bids over the telephone or otherwise from prospective Buyers not physically present at the Sale. Where such a facility is offered prospective Buyers wishing to use it must register with the Auctioneers in advance of the Sale. The Auctioneers accept no liability in relation to telecommunications facilities and connections nor to the means by which such prospective Buyers may seek to communicate with the Auctioneers.
  5. Bids shall be made exclusive of any VAT and Buyer’s Premium which may apply.
  6. The Purchaser shall be the person who makes the highest bid acceptable to the Auctioneers.
  7. The bidding increments will be regulated by the Auctioneers. The Purchaser shall not make any set-off or other plea for non-payment of the purchase money, and shall be liable to the Auctioneers for any unpaid purchase money whether or not the lot bought has been delivered.
  8. All Lots must be inspected by the Purchaser who bids on the understanding that he has inspected (or is deemed to have inspected the Lot for which he is bidding and agrees to take it with all faults and imperfections.
  9. The Auctioneers may without giving any reason, refuse to accept the bidding of any person.
  10. The Auctioneers and/or the Vendor reserve the right to fix a Reserve Price and alter this at any time during the auction, for any lot.
  11. Although the right to alter reserves is reserved it is expected that all vendors must set a reserve prior to sale and this must not be changed. If no reserve is added at the start of the sale, a reserve should not be added after. Vendors can move reserves down in value but not up in value once the auction has commenced.
  12. Lots that are entered, advertised and promoted by the auctioneers but then sold privately out of the auction will attract a reasonable administration fee to cover the auctioneer’s costs. The auctioneer will not be held liable for a seller defaulting on the conditions of sale in this way.

10. PAYMENT

  1. All Purchasers must register their names and addresses before they are permitted to bid in an online sale, The Auctioneers reserve the right to reject or terminate any registration at its sole discretion.
  2. On conclusion of the Auction period Stags will notify the buyer by email, Post or Telephone to confirm:
  3. That the Buyer is the winning bidder
  4. The amount of the successful bid
  5. Attached to the notification email or posted invoice will be an invoice for the amount of the winning bid plus any relevant commission and VAT due.
  6. All lots must be paid for within 5 working days of the conclusion of the Auction period unless alternative arrangements are made prior to the auction ending and have been confirmed by the auctioneers.
  7. The Auctioneers may at their absolute discretion, agree to accept payment by such other means or such other manner as they see fit.
  8. All payments must be made by Cheque, Bankers Draft, Debit Card, BACS or Credit Card (Subject to 2% Charge + VAT on Business Credit Cards).
  9. The auctioneers reserve the right to charge the buyer interest on any payment outstanding from five working days after the date of the invoice together with any reasonable debt recovery charges such rates and charges for all transactions to be those prescribed by the Late Payment of Commercial Debts (interest) Act 1988 as amended.
  10. If the auctioneers have paid the seller the sale proceeds due for a lot before the buyer has paid the auctioneers in full for the lot then the auctioneers shall have lien on the lot until the outstanding amount is paid in full by the buyer to the auctioneers.
  11. In the event of any sale by the buyer of a lot that has not been fully paid for the buyer will hold the proceeds of such sale on trust for the auctioneers to discharge the lien referred to at Clause 10.  

11. RESERVATION OF TITLE

Even though risk in the lot has passed to the Purchaser, title to any lot will remain with the Vendor until the Purchaser has paid the purchase money for that lot in full, and in the case of uncleared funds the sum until full payment has cleared the Auctioneers’ bank account.  Until title has passed to the Purchaser under this Condition, the Vendor may recover possession of the lot from the Purchaser, and the Vendor or the Auctioneers may enter upon the Purchaser’s premises (or such premises where the lot is held) in order to do so.

12. RESPONSIBILITY FOR LOTS & COLLECTION OF LOTS

  1. After the close of the sale such risk and duty shall devolve upon the Purchaser to ensure the lot is used safely, kept secure and is in a legal condition to travel or operate and the Auctioneer accepts no liability for damage loss or theft of any items.
  2. Buyers should in all cases make collection within four weeks of the conclusion of the auction unless other terms are stipulated at the time of sale or prior arrangements have been made. Purchasers risk forfeiting an item if not collected after this time period irrelevant of whether the item has been paid for in part or full. Where vendors request items to be removed after this period or sooner than the end of this time period, purchasers will be given 2 weeks written notice either by email, post or both by the auctioneers and then have to make collection or forfeit the item and lose any right to collect or claim it.
  3. Purchasers should not enter or arrive at a vendors property without the vendor agreeing to an appointment or having been provided with authorisation in the form of collection details from the auctioneers.
  4. Where vendors, the auctioneers or contracted parties assist with the loading or removal of items no liability is held by the removing party in terms of damage, injury or method. Purchasers can and should make their own arrangements if they hold concerns.      

13. VALUE ADDED TAX

  1. The Auctioneers will add Value Added Tax at the appropriate rate to the Hammer Price of a Lot.
  2.  
  3. If a Lot is zero rated exempt or where the Seller operates the flat rate scheme for Value Added Tax purposes the Auctioneers will state this at the commencement of sale.
  4. Where the Seller does not advise the Auctioneers of the appropriate rate of or status for VAT of a Lot the Auctioneer will apply the rate or status that appears appropriate from the information available to them and will not accept liability for any errors.
  5. Where a Lot is sold on behalf of a Seller who is not registered for Value Added Tax the Lot will be sold under the VAT Auctioneers’ Scheme unless written instructions are given to the Auctioneers to the contrary.
  6. The Auctioneers require Buyers from countries in the European Union who are registered for Value Added Tax to supply the Auctioneers with their VAT number or equivalent fiscal number and other relevant information so that the Lots purchased may be invoiced without Value Added Tax. Where this information is not made available or where the Buyer is not VAT registered, VAT will be charged at the appropriate UK rate in addition to the Hammer Price of the Lot. This amount will not be recoverable. It is the responsibility of such a Buyer to ensure that he or his haulier completes and signs a “collection certificate” from the Auctioneers’ office prior to collection of the Lot purchased so that Value Added Tax is not charged at the standard UK rate and be irrecoverable.
  7. Buyers from countries outside the European Union will be required to pay a VAT deposit equivalent to the standard UK rate of VAT on the Lot which will be refunded if within three months of “the time of supply” the Auctioneers are supplied with a satisfactory Bill of Loading or Certificate of Shipment as proof of shipment of the Lot outside the European Union, failing which the VAT deposit will be paid over to Her Majesty’s Revenue and Customs.

14. WARRANTY AND INSPECTION OF GOODS

  1. Unless a warranty is specifically given for a particular Lot at the time of the Sale all Lots are sold with all faults and imperfections and errors of description. Purchasers should satisfy themselves prior to the sale of the Lot as to the condition of each Lot and should exercise and rely on their own judgement as to whether the Lot accords with its description and not rely on the vendors or auctioneer’s description. Neither the Auctioneers, their servants or agents are responsible for errors of description or for the genuineness or authenticity of any Lot.  Unless otherwise stated no warranty is given by the Auctioneers, their servants or agents or by any Vendor to any Purchaser in respect of any Lot and any express or implied conditions or warranties are excluded to the fullest extent permitted by law.
  2. If any Lots are described at the same time of the Sale as in “working order” such Lots shall have no defect which renders them incapable of the reasonable work for which they are intended and they must be capable of performing such work for a period of 7 days commencing at 12 noon on the sale day subject always to Clause 17 set out below.
  3. Any Lot described by the Vendor as “just overhauled”, “straight from work”, “worked up to date of Sale” or “as new” or any other description calculated to mislead Purchasers will be deemed to have been sold with a warranty that such Lot is in “working order” and therefore has no defect which renders it capable of the reasonable work for which it is intended and it must be capable of performing such work for a period of 7 days commencing at 12 noon on the sale day subject always to Clause 17 set out below.
  4. Persons viewing lots at the Storage Location are respectfully reminded that verbal or physical abuse of any person, especially Stags staff, will not be tolerated.

15. COMPLIANCE WITH ROAD TRAFFIC ACTS

The Purchaser of any vehicle or trailer is responsible for complying with all legal requirements as to the construction and the use of such vehicle or trailer and for obtaining all certificates, permits or other authorization necessary before such vehicle or trailer can be used on the road.

16. HEALTH AND SAFETY AT WORK ACT 1974 AND ALL OTHER ACTS AND REGULATIONS APPLICABLE TO HEALTH AND SAFETY

  1. The Purchaser of any Lot is responsible for complying with all legal requirements as to the safe use of Lots purchased at the Sale and shall ensure compliance with all relevant legislation relating to the safe use of such Lots.
  2. The Purchaser will be deemed to have inspected any Lot and will be solely responsible for ensuring that the Lot complies with the Health & Safety at Work Act 1974 and in particular Sector Information Minute 01/2006/03 as issued or subsequently amended by the Health and Safety Executive or subsequent governing body prior to commencing use or work with such Lot.
  3. The Purchaser will provide if requested by the Vendor or the Auctioneer acting as Agent on behalf of the Vendor a written undertaking pursuant to Section 6(8) of the Health and Safety at Work Act 1974 to confirm that all duties under Sections 6(1)(a) or 6(1a) of the Health & Safety at Work Act 1974 have passed to the Purchaser at the fall of the hammer.

17. NOTIFICATION OF DEFECTIVE LOTS

  1. Any Purchaser disputing the accuracy of any description or alleging breach of warranty of the Lot purchased shall notify the Auctioneers as soon as practicable and no later than 12.00 noon on the third working day following the Sale at which the Lot was purchased and shall return such Lot to the Storage Location not later than seven days following such Sale together with a competent engineer’s report (if so required by the Auctioneer) setting out full details of the defect alleged.
  2. The Auctioneers may appoint as arbitrator any person including but without limitation any partners of their own firm or any person in their employ who decision shall be final and binding on the Vendor and the Purchaser.

18. RESALE DUE TO FAILURE OF COMPLIANCE

  1. On failure of compliance with the Conditions, the Auctioneers may without prejudice to any other rights they may have, resell the Lot or Lots, either by public auction or private contract and the deficiency (if any) arising upon the resale together with all expenses shall be due as a debt by the defaulter of the first sale.
  2. The defaulter shall not be entitled to any surplus which may arise by such re-sale, which shall remain the property of the Auctioneers.
  3. Expenses shall be deemed to include the usual Auctioneers’ commission on the re-sale and all expenses for porters, advertising, market tolls, carriage, care, storage, keep and otherwise.

19. AUCTIONEERS’ RIGHT TO ANNUL SALES

In the event of any dispute, refusal to pay, lack of communication or of non-payment on the part of the Purchaser, the Auctioneers may, entirely at their discretion, annul and cancel the sale of such Lot of Lots.

20. REMOVAL OF LOTS FROM STORAGE LOCATION

  1. All Lots whether sold or unsold may not be removed from the Storage Location without a pass or paid invoice for the removal of Lots. Passes or Paid invoices must be obtained from the Auctioneers’ Offices or by email or post.  All Lots must be checked out by a Representative of the Auctioneers or the Vendors themselves.
  2. The buyer has no right to anything not described in the sales description.
  3. The buyer will be responsible for removal of lots at his own expense and must provide his own labour and equipment.  Such removal must be carried out safely and lawfully and in accordance with any conditions of sale of which the buyer is notified.
  4. All Lots purchased must be cleared from the Storage Location within seven days of the date of the Sale in which they were purchased unless otherwise stated or arranged.
  5. The Auctioneers reserve the right to sell entirely without reserve by auction at the next, or at any future Sale, any sold or unsold Lot which remains in the Storage Location for longer than the times specified in clause 20(iv) above, unless they have received and accepted in their sole opinion a satisfactory explanation in writing from the Purchaser or Vendor as to why the Lot remains in the Storage Location.

21. BUYER’S PREMIUM

Where the Auctioneers state before the Sale in the catalogue or special conditions a Buyer’s Premium together with Value Added Tax may be charged to Buyers calculated on the basis of the Hammer Price at a rate to be stated in that announcement.

 

 

1. DEFINITIONS

In these conditions the following terms have the following meanings unless inconsistent with the context:

  • “Auctioneers” means Stags.
  • “Host” means NextLot Online Auction Software & Services – The software providers for this auction.
  • “Buyers Premium” means the premium charged to buyers on purchase of Lots.
  • “Commission” means the commission charged on the sale of Lots.
  • “Conditions” means the standard terms and conditions of business set out in this document.
  • “Lots” means all or any machinery and other items sold or intended to be sold in accordance with these conditions.
  • “Purchaser” means a person, firm or Company who purchase any Lot.
  • “Vendor” means a person, firm or Company who puts forward any Lot intended to be sold at the sale.
  • “Sale” means a sale of the Lots by auction from time to time organized by the auctioneers.
  • “Storage Location” means the venue at which the specific lot is stored during the sale period and is available for viewing (Please note Stags Auctioneers will not always be able to attend viewings along with purchasers).
  • “Sale Price” means the price at which a Lot is sold to the winning buyer.
  • “Sale Proceeds” means the net amount due to the Vendor being the Sale price of the lot sold less commission and expenses and any other amounts due to the Auctioneer by the Vendor in whatever capacity and howsoever arising.
  • “Reserve Price” means the minimum price fixed by either the Auctioneers or Vendor at which any Lot is to be sold in the sale.
  • “Auction Period” means the duration of the timed auction as advertised.  Any time periods running from the end of the Auction Period commence at the closing time of the Auction Period.

Except where the context otherwise requires words denoting the singular include the plural and vice versa;  words donating one gender includes all genders, words denoting persons include corporations.

 2. CONDITIONS OF SALE

  1. In signing the Entry Form the Seller accepts the Auctioneers (STAGS) Conditions of Sale and the provisions of this Contract for each Lot listed on the Entry Form.
  2. No employee or agent of the Auctioneers has any authority to vary these provisions or the Conditions of Sale.
  3. Any dispute arising under this Contract or the Conditions of Sale shall be determined in the first instance by the Auctioneers whose ruling shall be binding on the conduct of the auction. If such an issue including any dispute under Clause 11 remains in dispute after the auction it may be referred by the Buyer the Seller or the Auctioneers to arbitration or if the parties agree to independent expert determination within the period of ten Working Days starting on the date of the Sale by a person agreed between the parties in dispute or failing such agreement by a person appointed by the President of the Central Association of Agricultural Valuers on the application of any of the parties within that time paying such fee as may be charged for that service. The parties agree to meet the professional fees and costs of that person as he shall direct and to be bound by his award both as the matter of the dispute and as to the parties’ costs.
  4. Any indemnity under this Contract shall be an indemnity in respect of all actions proceedings and costs including legal costs expenses claims and demands whatever incurred or suffered.

3. SELLER’S WARRANTIES

The Seller warrants to the Auctioneers and to the Buyer:-

  1. His/her identity.
  2. That he/she is the true owner of the Lot or is authorised by the true owner to act as Agent in offering the Lot for sale.
  3. That he/she is able to transfer a good and marketable title to the Lot free from any third party claims liens and encumbrances.
  4. That no Lot is subject to a Hire Purchase lease contract hire or any other similar agreement or has been recorded by an insurance company as a write off or as subject to a major insurance claim.
  5. That all statements on the Entry Form are correct so that the Lot is not misdescribed being aware that providing a false description can be an offence under the Trade Descriptions Act 1968 and the Fraud Act 2006 punishable by a fine or imprisonment.
  6. That as far as reasonably practicable he has taken sufficient steps to ensure the Lot is safe and without risk to health and safety and that suitable testing and examination has been arranged and that he indemnifies the Auctioneer against all claims under the Consumer Safety Act 1978 and Part 1 of the Consumer Protection Act 1987.
  7. That he/she has declared in writing on the Entry Form any risk posed by the Lot to health and safety so that it is clear to the Auctioneer and prospective Buyers.
  8. That unless previously disclosed to the Auctioneers any vehicle entered is in a roadworthy condition and complies with regulations made under section 41 of the Road Traffic Act 1988 and has the benefit of any unexpired vehicle excise licence and any current MOT certificate relating to its which will be transferred to the Buyer.
  9. That he/she will provide all operators’ handbooks and instruction manuals held in his possession for the Lot.
  10. That where information required by this Clause has not been provided or the Auctioneers have reason to doubt it the Auctioneer may using his powers under Clause 3(iii) above instruct a suitably qualified person to inspect the items and report on any such matter the cost of which shall be borne by the Seller.
  11. That he/she will indemnify the Auctioneers their servants and agents and the Buyer against any loss or damage suffered by them in consequence of any breach of the above warranties.

4. WITHDRAWAL OF A LOT

  1. In all cases where a Lot once entered is not offered for sale on the Seller’s instructions the Auctioneers shall be indemnified by the Seller for all expenses incurred in relation thereto and against all claims from third parties that may arise.
  2. Any expenditure on advertising, travel, administration and time will be charged to the seller although the lot has not actually been sold and instead has been withdrawn. The auctioneers will invoice a reasonable figure to cover the majority of costs attracted.
  3. The auctioneers reserve the right to charge a withdrawal charge that allows vendors to remove items once the auction has commenced. Charges will be outlined for individual sales and in addition sellers can be invoiced to recover costs incurred as mentioned in section 4(ii).

5. WARRANTY & INSPECTION OF LOTS

  1. The Auctioneers’ knowledge of the Lots is initially dependent on the information provided by the Seller who has warranted as to its accuracy. The Auctioneer does not carry out exhaustive due diligence on each Lot. The information supplied about Lots is not a representation of fact but a statement of opinion on the basis of the evidence reasonably available to them.
  2. If a Lot is described at the time of the Sale as in “working order” that Lot is understood to have no defect which renders it incapable of the reasonable work for which it is intended.
  3. Where the Seller has declared any health and safety issues regarding a Lot or the Auctioneers have become aware of any such issues details of the matter will be available to Bidders in the Lot description for that sale on the website. It will also be for Bidders to satisfy themselves as to health and safety matters and the Buyer to take them into account in his use of the Lot after purchase.
  4. Where entries are submitted by other mediums other than a written or typed entry form the vendor will be entirely liable for any errors in reserves, descriptions or details in relation to the item. These alternative mediums include but are not limited to Whatsapp, Facebook, Email or Phone Conversations. Vendors should always complete an official entry form when submitting any entry and it is the duty of any Seller to ensure this is provided to the auctioneers alongside any communications through alternative mediums.

6. RESERVE PRICE

  1. The Seller shall be entitled to place a Reserve Price on any Lot prior to the Sale being the minimum amount for which the Lot may be sold.
  2. Such a Reserve Price shall be advised to the Auctioneers in writing no later than two Working Days before (or as advised in the special conditions) the start of the Sale and without such a Reserve Price the Lot will be offered for sale without a Reserve Price. Unless given in person to the Auctioneer or stated on the Entry Form, any such instruction shall not be binding unless the auctioneer has confirmed his receipt of it in writing. Once the auction has commenced a reserve price cannot be added to a lot.

7. RESPONSIBILITY OF LOTS

  1. Until sold each Lot remains entirely the responsibility of the Seller. The Auctioneers accept no liability for any Lot and will not provide insurance cover for any Lot.
  2. It is the responsibility of the Seller to ascertain whether his Lots have sold at the Sale and the Auctioneers shall be under no liability to notify the Seller if Lots are not sold.
  3. The Seller must take reasonable precautions to ensure the item remains secure, undamaged and in the same condition as when it was sold to the purchaser for up to 4 weeks until collection has been completed.

8. AUCTIONEER’S COMMISSION

  1. The Auctioneer (STAGS) will be entitled to charge the Seller commission as a percentage of the Hammer Price for any Lot at the rate specified on the entry form for his services (“Commission”) together with such entry fees expenses and other charges both due under these Conditions and as may also have been agreed with the Seller (“Charges”). The Commission and Charges shall be subject to VAT at the appropriate rate or rates.
  2. Any Lot included on the Entry Form by the Seller which is purchased by the Seller or on his behalf will be subject to charges and commission in accordance with these Conditions.

9. VALUE ADDED TAX

  1. The Seller will be responsible for accounting for any Value Added Tax on the Sale of a Lot.
  2. The Seller must state to the Auctioneers whether he is registered for Value Added Tax and if registered his Value Added Tax registration number and whether he operates under a flat rate scheme or any VAT Margin Scheme. If he is not registered for Value Added Tax the Seller hereby confirms that he has instructed the Auctioneers to arrange on his behalf the auction or sale of the Lots he has entered.
  3. The Auctioneers will not account to the Seller for any Value Added Tax without the information required by Clause 9(ii).
  4. The Auctioneers will add Value Added Tax at the appropriate rate to the Hammer Price of a Lot.
  5. If a Lot is zero rated exempt or where the Seller operates the flat rate scheme for Value Added Tax purposes the Auctioneers will state this at the time of Sale.
  6. Where the Seller does not advise the Auctioneers of the appropriate rate of or status for VAT of a Lot the Auctioneer will apply the rate or status that appears appropriate from the information available to them and will not accept liability for any errors.
  7. Where a Lot is sold on behalf of a Seller who is not registered for Value Added Tax the Lot will be sold under the VAT Auctioneers’ Scheme unless written instructions are given to the Auctioneers to the contrary.
  8. Where a Seller is registered for Value Added Tax and is trading goods under the general Margin Scheme and would like to offer a Lot for sale under the VAT Auctioneers’ Margin Scheme the Lot must be included on a separate Entry Form making it clear that the Lot is to be sold under the respective schemes.

 10. PAYMENT TO SELLERS

  1. Subject to Clauses 9(iii) 9(iv) and 9(v) the Auctioneers shall issue payment of the Sale Proceeds for a Lot to the Seller within 20 Working Days of the payment for that Lot by the Buyer resulting in cleared funds in the Auctioneers’ bank. If the Seller requires earlier payment, providing cleared funds from the purchaser has been arranged this can usually be facilitated but should be requested in writing to the Auctioneers.
  2. Monies received from Buyers will be held by the Auctioneers in a separate identifiable Clients’ Account.
  3. Should there be notification by the Buyer of a defective Lot or Lots then the procedure set out in Clause 1(iii) shall be followed and the sale proceeds dealt with accordingly.
  4. Notwithstanding Clause 9(i) in the event of any debt of the Seller being owed to the Auctioneers the latter shall have the right to set off such debt against the sale proceeds.
  5. Following the sale of any vehicle the Auctioneers shall not pay over the Sale Proceeds to the Seller until the Seller has given to the Auctioneers the V5C registration book for that vehicle a signed declaration that the registration book is lost or a declaration of non-registration or the Buyer confirms that he has now obtained a V5C document for the vehicle.
  6. For individual sales payment schedules will vary. The auctioneers reserve the right to withhold payment to the seller until they themselves have received payment of the goods in question.

 11. NOTIFICATION OF A DEFECTIVE LOT

  1. Where a Buyer alleges a breach of any warranty for a Lot for which he has paid he shall notify the Auctioneers in writing clearly stating details of the alleged breach as soon as practicable and no later than 1p.m. on the fifth Working Day after the day the Lot was picked up from the Seller and in any event before the Lot is removed from the United Kingdom.
  2. The Buyer shall make the Lot available for inspection in the United Kingdom by the Seller the Auctioneers and the duly appointed agents of either within five Working Days following the day on which the notification of the defective Lot is received.
  3. If there is a complaint against the Auctioneers it will be handled under the complaints procedure established by the Auctioneers to handle formal complaints made against their business.
  4. If the complaint is against the Seller the Auctioneers will notify the Seller of the alleged breach as soon as reasonably practicable and in the event of continuing disagreement any dispute will be handled under Clause 1(iii).
  5. The Auctioneers’ obligation to account to the Seller for the Sale shall be suspended until they are satisfied that the dispute has been settled.

12. RESALE DUE TO FAILURE TO COMPLY WITH THESE CONDITIONS

  1. Where a Lot has been sold to a Buyer who then fails to comply with the Conditions the Auctioneers may without prejudice to any other rights they may have resell that Lot either by public auction or private contract. If the price achieved on resale is less than Hammer Price together with any expenses arising the deficit shall be due as a debt from the original Buyer of the Lot.
  2. The defaulter shall not be entitled to any part of the proceeds which may arise by such re-sale which shall remain the property of the Auctioneers.
  3. Expenses due from the defaulter shall be deemed to include the Auctioneers’ commission on the re-sale and all other expenses that would be due on a Sale under these Conditions.

13. AUCTIONEERS’ RIGHT TO ANNUL A SALE OF A LOT

Before making payment to the Seller in the event of any dispute or refusal to pay on the part of the Buyer the Auctioneers may entirely at their discretion annul and cancel the sale of such a Lot or Lots.

14. EXCLUSION OF LIABILITY

  1. The Auctioneers shall not be liable for any expense, loss, claim or proceedings in respect of any loss, damage or injury whatsoever to any property real or personal (including any Lots) whether incurred before, during or after the Sale.
  2. The Auctioneers shall not be liable for any expense, loss, claim or proceedings in any respect or personal injury to or death of any person arising out of or in the course of or caused by the Sale, except to the extent that the same is due to the negligence of the Auctioneers, their servants or agents.

 

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