Buying at Auction
Bidding at one of our auctions couldn’t be easier. Either turn up to the saleroom on the day and fill out one of our simple forms, or register to bid online via bid.auctioneum.co.uk. Our buying fees direct are 19.5% of the hammer price, plus VAT on this fee (23.3% in total). If you bid online additional fees will apply and these are namely 4.95%+VAT (the-saleroom.com) and 4&+VAT (bid.auctioneum.co.uk). In all instances, buyers are asked to check the specific fees before bidding as occasionally an auction may have different commission rates set.
We accept payment by cash, debit card (no limit) or credit card (£200 limit), bank transfer, or direct payment via the-saleroom.com. Cheques are not accepted.
Collection from our saleroom must take place within 5 working days of the sale date, unless there has been prior agreement. Please note that we do not have the capacity to store items for customers for more than this time. Uncollected items will be subject to storage charges. We reserve this right.
Please see our shipping page for details on fully insured flat rate delivery.
Buyers Terms and Conditions
Conditions of Sale
Auctioneum Ltd carries on business with bidders, buyers and all those present in the auction room and online prior to or in connection with a sale on the following General Conditions and on such other terms, conditions and notices as may be referred to herein.
NOTE: These terms are general, and buyers are specifically requested to read the terms relevant to each auction as occassionally, some elements may change. The terms here are offered as a guide only. Terms for each sale are clearly displayed when signing up to bid.
In these Conditions:
(a) ‘Auctioneer’or ‘we/us’ means the firm Auctioneum Ltd or its authorised auctioneer, as appropriate;
(b) ‘Hammer price’ means the level of bidding reached (at or above any reserve) when the auctioneer brings down the hammer;
(c) ‘Terms of Consignment’ means the stipulated terms and rates of commission on which Bristol Auctions Ltd accepts instructions from sellers or their agents;
(d) ‘Total amount due’ means the hammer price in respect of the lot sold together with any premium. Value Added Tax chargeable and any additional charges payable by a defaulting buyer under these Conditions;
(e) ‘sale proceeds’ means the net amount due to the seller, being the hammer price for the lot sold less commission at the stated rate, Value Added Tax chargeable and any other amounts due to us by the seller in whatever capacity and however arising;
(f) ‘You’, ‘Your’ etc refers to the buyer as identified in condition 2;
(g) The singular includes the plural and vice versa as appropriate.
Bidding Procedures and the Buyer
(a) Bidders are required to satisfy any security arrangements before entering the auction room to view or bid, and to register their particulars immediately on purchasing their first lot on the day.
(b) The maker of the highest bid accepted by the auctioneer conducting the sale shall be the buyer at the hammer price and any dispute about a bid shall be settled at the auctioneer’s absolute discretion by re-offering the Lot during the course of the auction or otherwise.
(c) Bidders shall be deemed to act as principals.
(d) Our right to bid on behalf of the seller is expressly reserved up to the amount of any reserve and the right to refuse any bid is also reserved.
Bidding increments shall be at the auctioneer’s sole discretion.
The Purchase Price
The buyer shall pay the hammer price together with a premium thereon of 19.5%+VAT on the premium at the rate imposed by law.
ARTISTS RE-SALE RIGHT. Buyers of the re-sold art of living artists will be charged the royalty where applicable. Currently this is 4% on any item sold at 1000 Euros or over, diminishing about 50,000 Euros. VAT is not applicable. Further details can be obtained from our office.
Value Added Tax
Valued Added Tax on the hammer price is imposed by law on all items affixed with an asterisk. Value Added Tax is charged at the appropriate rate prevailing by law at the date of sale and is payable by buyers of relevant Lots. (Please refer to ‘Information for Buyers’ for a brief explanation of the VAT position)
We accept payment by debit card, credit card (CC up to £200), cash, or bank transfer. If bidding via Sale-Room payment will be automatically taken from the registered card if no contact is made within 7 days.
Title and Collection of Purchase
(1) The ownership of any Lots purchased shall not pass on to you until you have made payment in full to us of the total amount due.
(2) You shall at your own risk and expense take away any lots that you have purchased and paid for no later than five working days following the day of the auction after which you shall be responsible for any removal, storage and insurance charges.
(3) No purchase can be claimed or removed until it has been paid for.
Remedies for Non-Payment or Failure to Collect Purchase
(1) If any Lot is not paid for in full and taken away in accordance with these Conditions or if there is any other breach of these Conditions, we as agent for the seller shall at our absolute discretion and without prejudice to any other rights we may have, be entitled to exercise all or any of the following rights and remedies:
(a) To proceed against you for damages for breach of contract;
(b) To rescind the sale of that Lot and/or any other Lots sold by us to you;
(c) to resell the Lot (by auction or private treaty) in which case you shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs). Any surplus so arising shall belong to the seller;
(d) To remove, store and insure the Lot at your expense and, in the case of storage, either at our premises or elsewhere, at cost to you.
(e) To charge interest at a rate not exceeding 1% per month on the total amount due to the extent it remains unpaid for more than five working days after the sale;
(f) To retain that or any other Lot sold to you until you pay the total amount due;
(g) To reject or ignore bids from you or your agent at future auctions or to impose conditions before any such bids shall be accepted;
(h) to apply any proceeds of sale of other Lots due or in future becoming due to you towards the settlement of the total amount due and to exercise a lien on any of your property in our possession for any purpose.
(2) We shall, as agent for the seller and on our own behalf pursue these rights and remedies only so far as is reasonable to make appropriate recovery in respect of breach of these conditions.
Third Party Liability
Warranty of Title and Availability
(1) Whilst we seek to describe lots accurately, it may be impractical for us to carry out exhaustive due diligence on each lot. Prospective buyers are given ample opportunities to view and inspect before any sale and they (and any independent experts on their behalf) must satisfy themselves as to the accuracy of any description applied to the lot. Prospective buyers also bid on the understanding that, inevitably, representations or statements by us as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price involve matters of opinion. Subject to the foregoing neither we the auctioneer 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, and hereby excluded. This condition or quality of lots, express, implied or statutory, are hereby excluded.
(2) Private treaty sales made under these Conditions are deemed to be sales by auction for purposes of consumer legislation.
Auctioneum Ltd. offer an online bidding service via the-saleroom.com for bidders who cannot attend the sale.
In completing the bidder registration on www.the-saleroom.com and providing your credit card details and unless alternative arrangements are agreed with Auctioneum Ltd. you:
1. authorise Auctioneum Ltd., if they so wish, to charge the credit card given in part or full payment, including all fees, for items successfully purchased in the auction via the-saleroom.com, and
2. confirm that you are authorised to provide these credit card details to Bristol Auctions Ltd. through www.the-saleroom.com and agree that Auctioneum Ltd. are entitled to ship the goods to the card holder name and card holder address provided in fulfilment of the sale.
Please note that any lots purchased via the-saleroom.com or www.artfact.com live auction services will be subject to an additional 4.95% commission charge + VAT at the rate imposed on the hammer price
Under the regulations set by the Financial Conduct Authority (FCA), Auctioneum is required to provide appropriate identity evidence for HMRC when transactions take place over £10000. This is to prove that all buyers seeking to purchase high value items from Auctioneum are who they say they are.
Buyers registering to bid via Saleroom.com and Auctioneum own website will register to bid initially by entering an email address ( subject to validating) a current address of residence along with a valid debit or credit card that details will be matched against each other to verify your identity and to protect us from theft and fraud, complying with AML laws. Successful bidders of items over £10000 using internet bidding will be sent an email after purchase asking for these, which includes details on what kind of documents we can accept. Please note, in some instances, if we are unable to verify your identity as a bidder on items of a value over £10000, we will possibly not be able to process your bid and it may be cancelled as a result. Once your identity has been verified, we will inform you via email.
Buyers submitting telephone bidding requests and commission bids prior to the auction will also be subject to the above requirements and document requests prior to bidding thus satisfying both Auctioneum and the current regulations for the Money Laundering Act .
Auctioneum will be required by law to meet current compliance requirements for example, under UK AML (anti-money laundering) HMRC laws, or individual countries customs laws and regulations and disclose this information