Adam's The Deborah Brown Collection 1st October 2024

118 GENERAL TERMS & CONDITIONS OF BUSINESS The Auctioneer carries on business on the following terms and conditions and on such other terms or condi- tions as may be expressly agreed with the Auctioneer or set out in any relevant Catalogue. Conditions 12-21 relate mainly to buyers and conditions 22-32 relate mainly to sellers. Words and phrases with special mean- ings are defined in condition 1. Buyers and sellers are requested to read carefully the Cataloguing Practice and Catalogue Explanation contained in condition 2. DEFINITIONS AND GENERAL CONDI- TIONS Definitions 1. In these conditions the following words and expres- sions shall have the following meanings: ‘Auctioneer’ – James Adam and Sons trading as Ad- am’s ‘Auctioneer’s Commission’ – The commission payable to the Auctioneer by the buyer and seller as specified in conditions 22 and 26. ‘Catalogue’ – Any advertisement, brochure, estimate, price list or other publication. ‘Forgery’ – A Lot which was made with the intention of deceiving with regard to authorship, culture, source, origin, date, age or period and which is not shown to be such in the description therefore in the Catalogue and the market value for which at the date of the auc- tion was substantially less than it would have been had the Lot been in accordance with the Catalogue description. ‘Hammer Price’ – The price at which a Lot is knocked down by the Auctioneer to the buyer. ‘Lot’ – Any item which is deposited with the Auction- eer with a view to its sale at auction and, in particular, the item or items described against any Lot number in any Catalogue. ‘Proceeds of Sale’ – The net amount due to the seller being the Hammer Price of the Lot after deducting the Auctioneer’s Commission thereon under condition 26 the seller’s contribution towards insurance under condition 28, such VAT as is chargeable and any other amounts due by the seller to the Auctioneer in what- ever capacity howsoever arising. ‘Registration Form or Register’ – The registration form (or, in the case of persons who have previously attended at auctions held by the Auctioneer and com- pleted registration forms, the register maintained by the Auctioneer which is compiled from such reg- istration forms) to be completed and signed by each prospective buyer or, where the Auctioneer has ac- knowledged that a bidder is acting as agent on behalf of a named principal, each such bidder prior to the commencement of an auction. ‘Sale Agreement Form’ – The sale agreement form to be completed and signed by each seller prior to the commencement of an auction. ‘Total Amount Due’ – The Hammer Price of the Lot sold, the Auctioneer’s Commission due thereon under condition 22, such VAT as is chargeable and any addi- tional interest, expenses or charges due hereunder. ‘V.A.T.’ – Value Added Tax. Cataloguing Practice and Catalogue Explanations 2. Terms regarding cataloguing practice used in cata- logues have specific meanings, and attention is drawn to these explanations in each published catalogue. GENERAL CONDITIONS Auctioneer Acting as Agent 3. The Auctioneer is selling as agent for the seller un- less it is specifically stated to the contrary. The Auc- tioneer as agent for the seller is not responsible for any default by the seller or the buyer. The Auctioneer reserves the right to bid on behalf of the seller. Auctioneer Bidding on behalf of Buyer 4. It is suggested that the interests of prospective buyers are best protected and served by the buyers attending at an auction. However, the Auctioneer will, if instructed, execute bids on behalf of a prospective buyer. Neither the Auctioneer nor its employees, ser- vants or agents shall be responsible for any neglect or default in executing bids or failing to execute bids. Admission to Auctions 5. The Auctioneer shall have the right exercisable in its absolute discretion to refuse admission to its premis- es or attendance at its auctions by any person. Acceptance of Bids 6. The Auctioneers shall have the right exercisable in its absolute discretion to refuse any bids, advance the bidding in any manner it may decide, withdraw or di- vide any Lot, combine any two or more Lots and, in the case of a dispute, to put any Lot up for auction again. Indemnities 7. Any indemnity given under these conditions shall extend to all actions, proceedings, claims, demands, costs and expenses whatever and howsoever incurred or suffered by the person entitled to the benefit of the indemnity and the Auctioneer declares itself to be a trustee of the benefit of every such indemnity for its employees, servants or agents to the extent that such indemnity is expressed to be for their benefit. Representations in Catalogues 8. Representations or statements made by the Auc- tioneer in any Catalogue as to attribution, authorship, genuineness, source, origin, date, age, provenance, condition or estimated selling price or value is a state- ment of opinion only. Neither the Auctioneer nor its employees, servants or agents shall be responsible for the accuracy of any such opinions. Every person interested in a Lot must exercise and rely on their own judgement and opinion as to such matters. Governing Law