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Reservation of Title
15.
Notwithstanding delivery or passing of risk to the buyer the ownership of a Lot shall not pass to the buyer
until he has paid to the Auctioneer the Total Amount Due.
Collection of Purchases
16.
The buyer shall at his own expense collect the Lot purchased not later than seven (7) days after the date
of the auction but (unless credit terms have been agreed with the Auctioneer pursuant to condition 14) not
before payment to the Auctioneer of the Total Amount Due.
The buyer shall be responsible for any removal, storage and insurance charges in respect of any Lot which is
not taken away within seven (7) days after the date of the auction.
The purchased Lot shall be at the buyer’s risk in all respects from the earlier of the time of collection or the
expiry of one (1) day from the date of the auction. Neither the Auctioneer nor its employees, servants or
agents shall thereafter be liable for any loss or damage of any kind howsoever caused while a purchased Lot
remains in its custody or control after such time.
Packaging and Handling of Purchased Lots
17.
Purchased Lots may be packed and handled by the Auctioneer, its employees, servants or agents. Where
this is done it is undertaken solely as a courtesy to buyers and at the discretion of the Auctioneer. Under no
circumstances shall the Auctioneer, its employees, servants or agents be liable for damage of any kind and
howsoever caused to glass or frames nor shall the Auctioneer be liable for the errors or omissions of, or for any
damage caused by, any packers or shippers which the Auctioneer has recommended.
Non-Payment or Failure to Collect Purchased Lots
18.
If a buyer fails to pay for and/or collect any purchased Lot by the dates herein specified for payment
and collection the Auctioneer shall, in its absolute discretion and without prejudice to any other rights or
remedies it may have, be entitled to exercise one or more of the following rights or remedies without further
notice to the buyer:
(a)
To issue court proceedings for damages for breach of contract;
(b
)
To rescind the sale of that Lot or any other Lots sold to the buyer whether at that or at any other
auction;
(c)
To resell the Lot or cause it to be resold whether by public auction or private sale. In the event
that there is a deficiency between the Total Amount Due by the buyer and the amount received
by the Auctioneer on such resale after deduction of any necessary expenses the difference shall be
paid to the Auctioneer by the buyer. Any surplus arising shall belong to the seller.
(d)
To store (whether at the Auctioneer’s premises or elsewhere) and insure the
purchased Lot at the expense of the buyer.
(e)
To charge interest on the Total Amount Due at the rate of 2% over and above the base rate from
time to time of Bank of Ireland or if there be no such rate, the nearest equivalent thereto as
determined by the Auctioneer in its absolute discretion from the date on which payment is due
hereunder to the date of actual payment.
(f)
To retain that Lot or any other Lot purchased by the buyer whether at the same or any other
auction and release same to the buyer only after payment to the Auctioneer of the Total Amount
Due.
(g)
To apply any sums which the Auctioneer received in respect of Lots being sold by the buyer
towards settlement of the Total Amount Due.
(h)
To exercise a lien on any property of the buyer in the possession of the Auctioneer or whatever
reason.
Liability of Auctioneer and Seller
19.
Prior to auction ample opportunity is given for the inspection of the Lots on sale and each buyer by
making a bid acknowledges that he has, by exercising and relying on his own judgment, satisfied himself as
to the physical condition, age and Catalogue description of each Lot (including but not restricted to whether
the Lot is damaged or has been repaired or restored). All Lots are sold with all faults and imperfections and
errors of description. None of the seller, the Auctioneer nor any of their employees, servants or agents shall
be responsible for any error of description or for the condition or authenticity of any Lot. No warranty
whatsoever is given by the seller or Auctioneer or by any of their employees, servants or agents in respect of any
Lot and any condition or warranty express or implied by statute or otherwise is hereby specifically excluded.
Forgeries
20.
Any amount paid by a buyer in respect of a Lot which, if it is proved within three (3) years of the date
of the auction at which it was purchased, to have been a Forgery shall be refunded to the seller subject to the
provisions hereof, provided that:
(a)
The Lot has been returned by the buyer to the Auctioneer within three (3) years of
the date of the auction in the same condition in which it was at the time of the auction together
with evidence proving that it is a Forgery, the number of the Lot and the date of the auction at
which it was purchased;
(b)
The Auctioneer is satisfied that the Lot is a Forgery and that the buyer has and is able to transfer
good and marketable title to the Lot free from any third party claims;
FURTHER PROVIDED THAT the buyer shall have no rights hereunder if:
(i)
The description of the Lot in the Catalogue at the time of the auction was in accordance with the
then generally accepted opinion of scholars or experts or fairly indicated that there was a conflict
of such opinion;
(ii)
The only method of establishing at the time of the auction in question that the Lot was a Forgery
would have been by means of scientific processes which were not generally accepted for use until
after the date of the auction or which were unreasonably expensive or impractical.
The buyer’s sole entitlement under this condition is to a refund of the actual amount paid by him in respect of
the Lot. Under no circumstances shall the Auctioneer be liable for any damage, loss (including consequential,
indirect or economic loss) or expense suffered or incurred by the buyer by reason of the Lot being a Forgery.
The benefit of this condition shall be solely and exclusively for the buyer and shall not be assignable. The
buyer shall for the purpose of this condition be the person to whom the original invoice in respect of the sale
of the Lot is made.
Photographs
21.
The buyer authorises the Auctioneer at any time to make use of any photographs or illustrations of the
Lot purchased by the buyer for such purposes as the Auctioneer may require.
CONDITIONS WHICH MAINLY CONCERN THE SELLER
Auctioneer’s Discretion
22.
With regard to the sale of any Lot the Auctioneer shall have the following powers exercisable solely in the
discretion of the Auctioneer:
(i)
To decide whether to offer any Lot for sale or not;
(ii)
To decide whether a particular Lot is suitable for sale by the Auctioneer and, if so, to determine
which auction, the place and date of sale, the conditions of sale and the manner in which such
sale should be conducted;
(iii)
To determine the description of any Lot in a Catalogue.
(iv)
To decide whether the views of any expert shall be obtained and to submit Lots for examination
by any such experts.
(v)
To determine what illustration of a Lot (if any) is to be included in the Catalogue.
Seller’s Warranty and Indemnity
23.
The seller warrants to the Auctioneer and to the buyer that he is the true owner of the Lot or is legally
authorised to sell the Lot on behalf of the true owner and can transfer good and marketable title to the Lot free
from any third party claims. As regards Lots not held by the Auctioneer on its premises or under its control the
seller warrants and undertakes to the Auctioneer and the buyer that the Lot will be available and in a deliver-
able state on demand by the Auctioneer or buyer. The seller shall indemnify the Auctioneer and the buyer or
any of their respective employees, servants or agents against any loss or damage suffered by any of them in
consequence of any breach of the above warranties or undertakings by the seller.
Reserves
24.
Subject to the Auctioneer’s discretion, the seller shall be entitled prior to the auction to place a reserve
on any Lot. All reserves must be agreed in advance by the Auctioneer and entered on the Sale Order Form
or subsequently be confirmed in writing to the Auctioneer prior to auction. This also applies to changes in
reserves. A reserve may not be placed upon any Lots under IR£100 in value.The reserve shall be the minimum
Hammer Price at which the Lot may be sold by the Auctioneer. A reserve once in place may only be changed
with the consent of the Auctioneer. A commission shall be charged on the ‘knock-down’ bid for Lots which
fail to reach the reserve price. Such commission shall be 5% of the ‘knock-down’ bid. This commission and
any VAT payable thereon must be paid before removal of the Lot after the auction. The minimum commis-
sion hereunder shall be IR £25. The Auctioneer may in its sole discretion sell a Lot at a Hammer Price below
the reserve therefore but in such case the Proceeds of Sale to which the seller shall be entitled shall be the same
as they would have been had the sale been at the reverse.
Unless a reserve has been placed on a Lot in accordance with the provisions set out above such Lot shall be
put up for sale without reserve.
In the event that any reserve price is not reached at auction then for so long as the Lot remains with the
Auctioneer and to the extent that the Lot has not been re-entered in another auction pursuant to condition
31 the seller authorises the Auctioneer to sell the Lot by private treaty at not less than the reserve price. The
Auctioneer shall ensure that in such a case those conditions herein which concern mainly the buyer shall, with
any necessary modification, apply to such sale.
