AUCTION CONDITIONS

1. Introduction

The Common Auction Conditions are designed for

auctions, to set a consistent practice across the industry.

There are three sections, all of which must be included

without variation, except where stated:

2. Glossary

The glossary gives special meanings to certain words used

in the conditions.

3. Auction Conduct Conditions

The Auction Conduct Conditions govern the relationship

between the auctioneer and anyone who participates in

the auction. They cannot be changed without the

auctioneer’s agreement. We recommend that these

conditions are set out in a two-part notice to bidders, part

one containing advisory material – which auctioneers can

tailor to their needs – and part two the auction conduct

conditions and any extra auction conduct conditions.

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4. Sale Conditions

The Sale Conditions apply only govern the agreement

between each seller and buyer. They include general

conditions of sale and template forms of special conditions

of sale, tenancy and arrears schedules and a sale

memorandum. They must not be used if other standard

conditions apply.

5. GLOSSARY

This glossary applies to the AUCTION CONDUCT

CONDITIONS and the SALE CONDITIONS. It is a compulsory

section of the Common AUCTION Conditions that must be

included without variation (but the SPECIAL CONDITIONS

may include defined words that differ from the glossary so

long as they apply only to the SPECIAL CONDITIONS). The

laws of England and Wales apply to the CONDITIONS and

YOU, WE, the SELLER and the BUYER all submit to the

jurisdiction of the Courts of England and Wales. Wherever

it makes sense: • singular words can be read as plurals, and

plurals as singular words; • a “person” includes a corporate

body; • words of one gender include the other genders; •

references to legislation are to that legislation as it may

have been modified or re-enacted by the date of the

AUCTION or the CONTRACT DATE (as applicable); and •

where the following words appear in small capitals they

have the specified meanings.

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6. ACTUAL COMPLETION DATE

The date when COMPLETION takes place or is treated as

taking place for the purposes of apportionment and

calculating interest.

7. AGREED COMPLETION DATE

Subject to CONDITION a) the date specified in the SPECIAL

CONDITIONS; or b) if no date is specified, 20 BUSINESS

DAYS after the CONTRACT DATE; but if that date is not a

BUSINESS DAY the first subsequent BUSINESS DAY.

8. APPROVED FINANCIAL INSTITUTION

Any bank or building society that is regulated by a

competent UK regulatory authority or is otherwise

acceptable to the AUCTIONEERS.

9. ARREARS

ARREARS of rent and other sums due under the TENANCIES

and still outstanding on the ACTUAL COMPLETION DATE.

10. ARREARS SCHEDULE

The ARREARS schedule (if any) forming part of the

SPECIAL CONDITIONS.

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11. AUCTION

The AUCTION advertised in the CATALOGUE.

12. AUCTION CONDUCT CONDITIONS

The AUCTION advertised in the CATALOGUE.

13. AUCTIONEERS

The AUCTIONEERS at the AUCTION.

14. BUSINESS DAY

Any day except (a) Saturday or Sunday or (b) a bank or

public holiday in England and Wales.

15. BUYER

The person who agrees to buy the LOT or, if applicable, that

person’s personal representatives: if two or more are

jointly the BUYER their obligations can be enforced against

them jointly or against each of them separately.

16. CATALOGUE

The catalogue for the AUCTION as it exists at the date of

the AUCTION (or, if the catalogue is then different, the date

of the CONTRACT) including any ADDENDUM and whether

printed or made available electronically. 4

17. COMPLETION

Unless the SELLER and the BUYER otherwise agree, the

occasion when they have both complied with the

obligations under the CONTRACT that they are obliged to

comply with prior to COMPLETION, and the amount

payable on COMPLETION has been unconditionally

received in the SELLER’S conveyancer’s client account (or as

otherwise required by the terms of the CONTRACT).

18. CONDITION

One of the AUCTION CONDUCT CONDITIONS or SALE

CONDITIONS.

20. CONTRACT DATE

The date of the AUCTION or, if the LOT is sold before or

after the AUCTION: a) the date of the SALE MEMORANDUM

signed by both the SELLER and BUYER; or b) if CONTRACTs

are exchanged, the date of exchange. If exchange is not

effected in person or by an irrevocable agreement to

exchange made by telephone, fax or electronic mail the

date of exchange is the date on which both parts have been

signed and posted or otherwise placed beyond normal

retrieval.

21. DOCUMENTS

DOCUMENTS of the entries on the register and other

DOCUMENTS listed or referred to in the SPECIAL

CONDITIONS relating to the LOT (apart from FINANCIAL

CHARGES).

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22. INTRODUCTION

The AUCTION CONDUCT CONDITIONS apply wherever the

LOT is located. If YOU make a bid for a LOT or otherwise

participate in the AUCTION it is on the basis that YOU

accept these AUCTION CONDUCT CONDITIONS. They

govern OUR relationship with YOU. They can be varied only

if WE agree.

23. OUR ROLE

As agents for each SELLER we have authority to (a) prepare

the CATALOGUE from information supplied by or on behalf

of each SELLER; (b) offer each LOT for sale; (c) sell each LOT;

(d) receive and hold deposits; (e) sign each SALE

MEMORANDUM; and (f) treat a CONTRACT as repudiated if

the BUYER fails to sign a SALE MEMORANDUM or pay a

deposit as required by these AUCTION CONDUCT

CONDITIONS or fails to provide identification as required by

the AUCTIONEERS. OUR decision on the conduct of the

AUCTION is final. WE may cancel the AUCTION, or alter the

order in which LOTS are offered for sale. WE may also

combine or divide LOTS. A LOT may be sold or withdrawn

from sale prior to the AUCTION. YOU acknowledge that to

the extent permitted by law WE owe YOU no duty of care

and YOU have no claim against US for any loss. WE may

refuse to admit one or more persons to the AUCTION

without having to explain why. YOU may not be allowed to

bid unless YOU provide such evidence of YOUR identity and

other information as WE reasonably require from all

bidders.

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23. BIDDING AND RESERVE PRICES

All bids are to be made in pounds sterling exclusive of VAT.

WE may refuse to accept a bid. WE do not have to explain

why. If there is a dispute over bidding WE are entitled to

resolve it, and OUR decision is final. Unless stated

otherwise each LOT is subject to a reserve PRICE (which

may be fixed just before the LOT is offered for sale). If no

bid equals or exceeds that reserve PRICE the LOT will be

withdrawn from the AUCTION. Where there is a reserve

PRICE the SELLER may bid (or ask US or another agent to

bid on the SELLER’s behalf) up to the reserve PRICE but may

not make a bid equal to or exceeding the reserve PRICE.

YOU accept that it is possible that all bids up to the reserve

PRICE are bids made by or on behalf of the SELLER.

24. THE PARTICULARS AND OTHER

INFORMATION

WE have taken reasonable care to prepare PARTICULARS

that correctly describe each LOT. The PARTICULARS are

based on information supplied by or on behalf of the

SELLER. YOU need to check that the information in the

PARTICULARS is correct. If the SPECIAL CONDITIONS do not

contain a description of the LOT, or simply refer to the

relevant LOT number, you take the risk that the description

contained in the PARTICULARS is incomplete or inaccurate,

as the PARTICULARS have not been prepared by a

conveyancer and are not intended to form part of a legal

CONTRACT. The PARTICULARS and the SALE CONDITIONS

may change prior to the AUCTION and it is YOUR

responsibility to check that YOU have the correct versions. 7

If WE provide information, or a copy of a DOCUMENT, WE do

so only on the basis that WE are not responsible for the

accuracy of that information or DOCUMENT.

25. THE CONTRACT

A successful bid is one WE accept as such (normally on the fall

of the hammer). This CONDITION A5 applies to YOU only if

YOU make the successful bid for a LOT. YOU are obliged to

buy the LOT on the terms of the SALE MEMORANDUM at

the PRICE YOU bid (plus VAT, if applicable). YOU must

before leaving the AUCTION (a) provide all information WE

reasonably need from YOU to enable US to complete the

SALE MEMORANDUM (including proof of your identity if

required by US); (b) sign the completed SALE

MEMORANDUM; and (c) pay the deposit. If YOU do not WE

may either (a) as agent for the SELLER treat that failure as

YOUR repudiation of the CONTRACT and offer the LOT for

sale again: the SELLER may then have a claim against YOU

for breach of CONTRACT. Intending purchasers must

complete bidder registration via Essential Information

Group Auction Passport or fill in the appropriate bidding

form ensuring that all sections are completed. Failure to

complete any part of the appropriate form may render the

instructions ineffective or result in your registration not

being approved. Copies of all relevant bidder’s/purchaser’s

identification must be provided prior to the start of the

auction.

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No responsibility is taken by the auctioneers for unprocessed

registrations received later than 24 hours prior to the auction.

Maximum bids for proxy or telephone bidders must be for an

exact figure, rounded to the nearest £5,000, and any reference

to a bid to be calculated by reference to other bids will not be

acceptable. In the event of there being any confusion as to the

maximum bid, the auctioneer reserves the right to refuse a bid

on behalf of the prospective bidder..All bidders registered via

Auction Passport must authorise a £10,000 security hold on a

debit card as part of the registration. Those submitting bidding

forms will be required to provide card details for security. If you

are successful, the £10,000 hold will be deducted from your

account and put towards the 10% deposit. If you are

unsuccessful, the hold on your card will usually be removed

within 5 working days. When the 10% deposit is taken, you will

also be required to pay a Buyer’s Administration Fee of £1,200

(£1,000 + VAT). In some cases, this figure may be higher and if

so, will be stated in the addendum. For lots with a purchase

price below £50,000, the Buyer’s Administration Fee will be

£900 (£750+VAT). Payments can be made either by BACS or

debit card and must be made on the day of the auction. The

Buyer's Administration Fee is payable on all lots sold at auction,

prior to the auction or post-auction. If the successful bidder fails

to provide the required deposit and buyers administration

charge, then Grand auction house and/or their seller reserves its

rights to pursue the winning bidder via all legal means necessary

for the deposit and the buyer’s administration charge and any

associated losses and interest as applicable. The auctioneer, in

accepting remote bids, acts as agent for the prospective

bidder/purchaser who shall be considered to have authorised

the auctioneer on the basis of all relevant conditions 9

of sale and any amendments to the auction particulars. In the

event of the prospective purchaser’s bid being successful, the

auctioneer or any duly authorised partner or employee of Grand

auction house is authorised by the bidder and purchaser to sign

any Memorandum of Sale or Sale Contract relating to the

property concerned incorporating any addendum. The

auctioneer accepts no liability for any bid not being made on

behalf of the prospective purchaser and reserves the right to bid

himself or through an agent up to the reserve price for the

particular property concerned. In the event that: (a) two or more

parties consider for whatever reason that they are the highest

bidder; (b) there is a dispute as to which bidder is the highest

bidder; (c) there is any other dispute as between any bidders

and/or as between the auctioneer and any bidders; or (d) the

auctioneer considers that there is a disputed bid; the auctioneer

at their sole discretion have the right to declare a "Bidding

Dispute" at any time during the auction. In the event of a bidding

dispute, the auctioneer reserves the right to re-offer the lot on

the terms they consider to be reasonable. The auctioneer shall

accept no liability whatsoever if the underbidder is unable to

make an increased bid. The auctioneer's decision on the conduct

and to replace the Common AUCTION Conditions in their

entirety.

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26. SELLERS AND BUYERS

TERMS N CONDITIONS

26.1 Agent for the seller

Unless otherwise agreed, Grand Auction house Ltd,

hereafter referred to as GAH LTD acts as agent for the

seller. The contract for sale of the property is therefore

made between the Seller and the Buyer.

26.2 Definitions

For the purposes of the current Terms and Conditions, the

Seller shall be defined as the owner of the Goods. It is

implied that the Seller is the legitimate owner and is

authorised to sell the Lot. The Bidder is any registered

person participating in the auction, and the Buyer is the

successful Bidder for a particular Lot. The Lot means the

item(s) put up for sale by GAH Ltd and to which the present

Terms and Conditions apply.

26.3 Catalogue descriptions

Any representation in any catalogue or otherwise as to the

origin, date, age, attribution, authenticity or estimated selling

price of any lot is a statement of opinion only. Such statements

do not constitute a representation warranty or assumption of

liability by GAH Ltd in relation to the Lot. Any prospective Buyer

should satisfy themselves prior to the sale as to the reliability of

the catalogue description. 11

The absence of mention related to prior restorations in the

catalogue descriptions does not imply that the good is exempt

thereof. Photographs of any Lot provided by GAH Ltd are for

indicative purposes only and are not deemed to be a precise

representation of the said Lot. The Buyer is advised to seek

independent expert advice in order to be assured of the

authenticity and true state of the good.

26.4 Inspection

Prior to auction, prospective purchasers are strongly

advised to personally examine any property in which they are

interested to satisfy themselves in relation to matters which

may concern them.

26.5 Condition report

GAH Ltd may issue a Condition Report on request prior to

the sale. This Condition Report is for identification purposes

only and cannot be considered as giving a precise account of

the Lot’s true state. Thus, some imperfections and faults may

not be accounted for in the Condition Report. As

aforementioned, and in the absence of any contractual value

of the Condition report, it is the Buyer’s sole duty to inspect in

person the Lot in order to be assured of its true condition and

GAH Ltd shall not be responsible for assertions within the

Condition Report hereto.

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26.6 Electricals

All electrical items are sold as seen and GAH Ltd offers no

guarantee as to the working condition of such items or their

safety. It is the Buyer’s duty to take necessary steps to be

assured that the Lot is safe for normal use.

26.7 Estimates

Estimates are based on various factors inherent to the

situation of the market at the time of the sale, as well as

considerations such as the condition, rarity, or quality of the

item etc. Estimates are only indicative and represent the

opinion of GAH Ltd. Estimates provided by GAH Ltd cannot

constitute a guarantee as to the value of the good.

Subsequently, goods may sell at prices lower or higher than the

provided estimates.

26.8 Reserves

Many Lots are offered subject to a reserve, which is the

confidential minimum sale price. The reserve will never exceed

the low estimate printed in the catalogue. GAH Ltd may open

the bidding on any Lot below the reserve by placing a bid on

behalf of the seller, and may in their discretion continue to bid

up to the reserve price. This can be achieved by bidding in

response to other bidders or alternatively by placing

consecutive bids.

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26.9 Registration to the sale

New bidders will need to register prior to the sale. It is

strongly advised bidders register at least 24 hours before the

sale. Registration thereafter shall be at the auctioneer’s

entire discretion. International bidders may be required to

register 48 hours before the sale and to submit bank details.

A deposit may be requested prior to each sale. Failure to

register shall result in the impossibility for the bidder to

purchase a Lot.

26.10 Proof of identity

Bidders not previously known to GAH Ltd will be

required to provide: • Official proof of identity in the form of

a passport or photocard driving licence. No other forms of ID

are acceptable. • Proof of address of main residence. Only

official documents showing name and address will be

accepted. • Both landline and mobile telephone numbers •

A bank reference for foreign bidders may be requested •

Corporate clients will have to provide a certificate of

incorporation prior to the auction, along with the

representative’s ID in accordance with the abovementioned

requirements for proof of identity. Any Bidder that does not

match the provided identity for registration may not

purchase during the sale.

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27. DURING THE SALE

27.1 Attendance at auction

Attending the auction in person is recommended. GAH Ltd

has the right at their absolute discretion to refuse participation

in any auction, to reject any bid, and to refuse admission to the

premises. Bidders are not obliged to be present in person at the

auction. Absentee bidders shall be required to make necessary

arrangements with CA Ltd prior to the sale.

27.2 Personal bidding

Bidders attending the auction in person shall be required to

collect a unique bidding paddle prior to bidding in the sale.

27.3 Commission bids

GAH Ltd will use reasonable efforts to carry out

Commission bids received by them prior to the sale for the

convenience of clients who are not present at the auction in

person. Execution of Commission bids is a free service provided

to help clients and GAH Ltd does not accept liability for any

failure to execute a Commission bid or for errors and omissions

in connection with it. Commission bids shall be executed at the

lowest possible price, subject to competing bids and reserves.

Although GAH Ltd will endeavour to inform Buyers, it is the

Buyer’ Title will not pass to the Buyer until GAH Ltd has

received all amounts due to them in cleared funds even if the

Lot has been released to the Buyer. 15

28. Transfer of property

Property of the goods shall pass to the Buyer only once GAH

Ltd has received full payment for the goods, this includes the

price at the fall of the hammer as well as Buyer’s premium,

relevant taxes, and costs in relation to shipping.

29. Transfer of risks

Purchased Lots shall be at the Buyer’s risk in all respects

from the fall of the hammer, and neither GAH Ltd nor their

agents shall be responsible for any loss or damage of any kind,

whether caused by negligence or otherwise.

30. Cancellation of the sale

At the fall of the hammer, the contract is formed between the

Buyer and GAH Ltd and is binding thereafter. Under no

circumstances can the Buyer cancel the sale. GAH Ltd may

at its entire discretion, during or after the auction, cancel

the sale of the Lot or reoffer and resell the Lot if it

becomes aware of any error or dispute of any nature,

whether or not title has passed to the Buyer, and up to a

period of 6 months after the said sale. Grounds for

cancellation under the present section shall include but

not be limited to any dispute relating to the attribution or

provenance of the Lot, ownership and title, fraud or deceit,

lack of relevant licences or certificates, any subsequent

changes in domestic or international legislations restricting

the sale of export of goods etc. In the event of internetonly auctions (where are no offered advanced physical

viewing times), the Buyer shall have a 14 day right to

retract, after receipt of the Lot, under EU Consumer Law.

Public auctions are not covered by this right to retract.

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31. AFTER THE SALE

31.1 Payment

All purchased lots must be paid for on the day of the auction.

Commission bids must be paid for no later than the day

after the auction. Payment must be made by cash, debit,

credit card or bank transfer. We do not accept cheques. We

do not currently accept American Express. GAH ltd adheres

strictly to current anti-money laundering regulations and

reserves the right to refuse payment or cancel the sale of

any lot, should suspicion or evidence of regulation

infringement arise. The 2020 guidelines reference ‘Art

Works’, but are as yet to be fully defined. As such, GAH Ltd

reserves the right to adapt buying/selling rules at any time,

in order to maintain compliance. Cash payments shall not

be receivable for amounts over €10,000, regardless of the

payment being for one or multiple Lots. As of 2020, new

directives also extend to other forms of payment where the

amount is in excess of €10,000 and this may require further

information sharing covering both buyers and sellers.

Should it encounter contravention of said regulations, or is

unable to bring buyers/sellers into line with said regulations

through advice and support, GAH ltd reserves the right to

cancel any lot transaction and offer said lots to

underbidders and where applicable will notify the relevant

authority of the suspected contravention if deemed

intentional. Payments made by someone other than the

registered Buyer shall not be accepted.

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31.2 Buyer’s Premium

The Buyer will pay GAH Ltd a premium of 26% on the

hammer price plus VAT on that premium on the first £500,000 and

12% plus VAT on the balance thereafter. A Buyer’s Premium of 21%

plus VAT is charged on Wine & Spirits Lots. The VAT payable varies

by symbol as below: No Symbol: The standard rate of VAT is

charged on the premium under the Auctioneers Margin Scheme in

accordance with Art. 333 of 2006/112/EC. Standard UK VAT will be

charged on the buyers’premium and invoiced on an inclusive basis.

†: Normal VAT rules apply and the standard rate of VAT will be

charged at both hammer price and premium. *: These lots have

been imported from outside the UK for sale and placed under the

Temporary Admission regime. Import VAT is payable at 5% on the

hammer price. VAT at 20% will be added to the buyer’s premium

but will not be shown separately on the invoice. If you are reexporting a * lot outside of the UK, you must use Chiswick Auctions

Ltd TA Shipper.

31.3 Online Bidding Surcharges

Customers bidding through the third-party auction platform

thesaleroom.com are liable for a 4.95% surcharge on the hammer

price,plus VAT. This is in addition to the Buyer ’s Premium.

Customers bidding through the third-party auction platform are

liable for a 5% surcharge on the hammer price, plus VAT. This is in

addition to the Buyers Premium.

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31.4 Taxes

VAT is payable on the buyer’s premium, and for some lots, VAT

is payable on the hammer price. The successful bidder will be

responsible to ascertain and pay any applicable taxes including VAT,

sales tax or any equivalent tax arising on sale of a particular lot.

W.e.f. 1st January 2021 (Post Brexit), Private individual buyers based

outside UK will now be charged VAT at the applicable rate and will

not be able to claim a VAT refund. Trade clients based outside UK

and who arrange for their own shipping can get the VAT refunded if

all the below conditions are met: 1. Have registered to bid with an

address outside of the UK 2. Provide immediate proof of export out

of the UK within 90 days from the date of the auction Please note,

we charge an administrative fee of £135 per invoice to check export

documents and arranging VAT refunds. VAT refunds will be done to

the original method of payment used by the buyer. No VAT will be

refunded where the total VAT on an invoice is under £30. Trade

clients based outside UK and who arrange shipping with our

recommended shipper JGM Shipping can get the VAT taken off the

invoice prior to making payment. In order to do this, a confirmation

of shipping with JGM Shipping needed to be provided by GAH LTD. If

you cancel or change the shipping with our recommended shipper,

we will issue a revised invoice charging all applicable taxes.

31.5 Shipping

Any shipping costs that may arise subsequent to the sale shall

be at the Buyer’s expense. Such costs may include but not limited to

postage, import and export permits where required and any other

licence necessary for goods to be shipped outside of the European

Union. GAH Ltd does not offer insurance for shipping. However, 19

GAH Ltd may arrange insurance upon the Buyer’s request and

at the Buyer’ s expense. GAH Ltd cannot be held responsible

for any damages that may be incurred to goods prior to the

fall of the hammer.

31.6 Loss or Damage

BAH Ltd does not accept liability for loss or damage occurring

to Lots after the sale. GAH Ltd will use reasonable efforts

when handling Lots, but shall not be responsible for any loss

or damages that may occur whilst the said Lot is in any third

party’s care.

31.7 Cultural Goods import and export

restrictions

Cultural goods may be subject to import and export

restrictions. Under EU Regulations related to the trade of

cultural goods, export licences may be required for export

outside of the European Union if the item’s value exceeds the

EU threshold. Under UK Law, a licence may also be required

for intra-EU trade. Licenses are issued by RICA and it is the

Buyer ’s duty to obtain them. Some countries restrict the

import of specific cultural goods. For example, the United

States prohibits the import of pre-Columbian monument

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32. SELLING

The Auctioneers reserve the right to refuse to accept for sale any

Lot. The Auctioneers shall be entitled to a commission on the

price at which the Lot is sold in accordance with their published

scale of charges. Payment shall be made at the time of sale. The

Seller authorises the Auctioneers to deduct commission from the

sale price. In addition, the Auctioneers reserve the right to charge

a commission to the Buyer on the purchase price in accordance

with their published scale of charges. If any Lot is entered for sale

and is sold by the Seller to any person attending the sale that sale

shall be deemed to have been affected by the Auctioneers as

Agents for the Seller and full commission will be payable. The

Seller shall at his own expense take away all unsold Lots not later

than 5 p.m. on the next working day. Any lots left on site with us

may be automatically consigned to the next auction. In default of

this, storage will be charged in accordance with the Auctioneers`

Standard Scale of Charges. Please note that if any item is entered

into the auction and not sold and subsequently collected by the

vendor, there will be a charge of £125 plus VAT for the HPI / TER

check that we have carried out. No Lot will be accepted for sale

unless the appropriate Entry Form has been fully completed. The

particulars given on the Entry Form and the description of the Lot

contained in it form the basis of the Contract between the Seller

and the Auctioneers and the Auctioneers shall not be liable to

account to the Seller for any loss which may arise through the use

of such particulars or description in any sale. At the request of

the Seller the Auctioneers may complete and sign the Entry Form

on the Sellers’ behalf. The Auctioneers accept no liability to either

Seller or Buyer for any loss which may arise as a result.

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If a Reserve Price is not stated in the appropriate place on the

Entry Form the Lot will be sold without Reserve.

Notwithstanding any indication to the contrary on the Entry

Form (e.g. “NET”, “CLEAR”), the Auctioneer has authority to sell

at the price stated on the Entry Form. If a reserve price is

nominated, unless otherwise stated as (“Firm”) on the entry

form, the auctioneer will at his/her own discretion reserve the

right to sell that item at 90% of the nominated reserve price (up

to £500) 95% (up to £5,000) and 97.5% (over £5,000). Minimum

reserve price per item is £100. Any unsold items that are “rolled

over” to the next auction and carry a reserve of £100 and less,

will be automatically sold in the following auction without

reserve. A Lot will not be released until it has been offered for

sale by the Auctioneers or the Auctioneers have ceased selling

for the day. If any lot fails to sell by Auction the Auctioneers

reserve the right to re-offer the Lot for sale by auction or to sell

by private treaty at the Reserve Price or such other price as may

be agreed by the Seller. Commission shall be payable in this

instance in accordance with the provisions outlined above.

Where any Lot is found to be subject to a hire purchase, leasing

or similar agreement the Auctioneers reserve the right to

discharge the existing liability and to remit the balance, if any, to

the Seller. The Auctioneers may, at their discretion, make

enquiries as to the title to any Lot. They shall not be under any

duty to either Seller or Buyer to make such enquiries or to

disclose to any person the result of any enquiries.

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33. DEFINITIONS

a) “Seller” includes the owner of the Lot and any other

person offering the lot to the Auctioneers for sale whether

authorised by the owner or not. b) “Buyer” includes the

highest bidder, the person to whom a Lot is sold by private

treaty, the person declared by the Auctioneers as being the

Buyer and the principal of any of the above if they are

acting as agents. c) “Sale” includes a sale by private treaty.

d) “Lot” includes all Lots entered for sale whether by public

auction or by private treaty. e) The expressions “Seller”,

“Buyer”, and “Auctioneers” include where appropriate their

employees and agents.

34. AUCTIONS ACT 1927, ss1-4

Certain bidding agreements to be illegal (1) If any dealer

agrees to give, or gives, or offers any gift or consideration to

any other person as an inducement or reward for shall be

imprisonment for a term not exceeding two years or a fine

or both. (2) This section applies only to offences committed

after the commencement of this Act. 2. Persons convicted

not to attend or participate in auctions (1) On any such

summary conviction or conviction on indictment as is

mentioned in section 1 above, the court may order that the

person so convicted or that person and any representative

of him shall not (without leave of the court) for a period

from the date of such conviction – (a) in the case of a

summary conviction, of not more than one year, or (b) in

the case of a conviction on indictment, of not more than

three years, enter upon any premises where goods

intended for sale by auction are on display or to attend or

participate in any way in any sale by auction.

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(2) In the event of a contravention of an order under this

section, the person who contravenes it (and, if he is the

representative of another, that other also) shall be guilty of an

offence and liable – (a) on summary conviction, to a fine not

exceeding the statutory maximum; (b) on conviction on

indictment, to imprisonment for a term not exceeding two years

or to a fine or to both. (3) In any proceedings against a person in

contravention of an order under this section consisting in the

entry upon premises where goods intended for sale by auction

were on display, it shall be a defence for him to prove that he did

not know, and had no reason to suspect, that goods so intended

were on display on the premises, and in any proceedings against

a person in contravention of such an order consisting in him

having done something as the representative of another, it shall

be a defence for him to prove that he did not know, and had no

reason to suspect, that that other was the subject of such an

order. (4) A person shall not be guilty of an offence under this

section by reason only of his selling property by auction or

causing it to be so sold. 3. Right of seller of goods by auction

where agreement subsists that some person shall abstain from

bidding for the goods (1) Where goods are purchased at an

auction by a person who has entered into an agreement with

another or others that the other or others (or some of them)

shall abstain from bidding for the goods (not being an

agreement to purchase the goods bona fide on a joint account)

and he or the other party, or one of the other parties, to the

agreement is a dealer, the seller may avoid the contract under

which the goods are purchased. (2) Where a contract is avoided

by virtue of the foregoing subsection, then,

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(4) A person shall not be guilty of an offence under this section

by reason only of his selling property by auction or causing it to

be so sold. 3. Right of seller of goods by auction where

agreement subsists that some person shall abstain from bidding

for the goods (1) Where goods are purchased at an auction by a

person who has entered into an agreement with another or

others that the other or others (or some of them) shall abstain

from bidding for the goods (not being an agreement to purchase

the goods bona fide on a joint account) and he or the other party,

or one of the other parties, to the agreement is a dealer, the

seller may avoid the contract under which the goods are

purchased. (2) Where a contract is avoided by virtue of the

foregoing subsection, then, if the purchaser has obtained

possession of the goods and restitution thereof is not made, the

persons who were parties to the agreement that one or some of

them should abstain from bidding for the goods the subject of

the contract shall be jointly and severally liable to make good to

the seller the loss (if any) he sustained by reason of the operation

of the agreement. (3) Subsection (1) above applies to a contract

made after the commencement of this Act whether the

agreement as to the abstention of a person or persons from

bidding for the goods the subject of the contract was made

before or after that commencement. (4) Section 2 of the Auctions

(Bidding Agreements) Act 1927 (right of vendors to treat certain

sales as fraudulent) shall not apply to a sale the contract for

which is made after the commencement of this Act. (5) In this

section, ‘dealer’ has the meaning assigned to it by section 1(2) of

the Auctions (Bidding Agreements) Act 1927. 4. Copy of the Act

to be exhibited at

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sale Section 3 of the Auction (Bidding Agreements) Act 1927

(copy of Act to be exhibited at sale) shall have effect as if the

reference to that Act included a reference to this Act. 5. Short

title, commencement and extent (1) This Act may be cited as

the Auctions (Bidding Agreements) Act 1969. (2) This Act shall

come into force at the expiration of one month beginning with

the day on which it is passed. (3) This Act shall not extend to

Northern Ireland.

CUSTOMER’S SIGNATURE

DATE:

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