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General Terms and Conditions of Business
The Auctioneer carries on business on the following terms and conditions and on such other terms or conditions 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 meanings are defined in condition 1. Buyers and sellers are requested to read carefully the Cataloging Practice and
Catalogue Explanation contained in condition 2.
DEFINITIONS AND GENERAL CONDITIONS
DEFINITIONS
1. In these conditions the following words and expressions shall have
the following meanings:
‘Auctioneer’ – James Adam & Sons.
‘Auctioneer’s Commission’ – The commission payable to the Auctioneer
by the buyer and seller as specified in conditions 13 and 25.
‘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 auction
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 Auctioneer 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 25 the seller’s contribution towards insurance under
condition 26, such VAT as is chargeable and any other amounts due by
the seller to the Auctioneer in whatever 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 completed registration forms, the register maintained
by the Auctioneer which is compiled from such registration forms) to
be completed and signed by each prospective buyer or, where the
Auctioneer has acknowledged pursuant to condition 12 that a bidder is
acting as agent on behalf of a named principal, each such bidder prior
to the commencement of an auction.
‘Sale Order Form’ – The sale order 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 13, such VAT as is chargeable
and any additional interest, expenses or charges due hereunder.
‘V.A.T.’ – Value Added Tax.
Cataloguing Practice and Catalogue Explanations
2. Terms used in Catalogues have the following meanings and the
Cataloguing Practice is as follows:
The first name or names and surname of the artist;
In the opinion of the Auctioneer a work by the artist.
The initials of the first name(s) and the surname of the artist;
In the opinion of the Auctioneer a work of the period of the artist and
which may be in whole or in part the work of the artist.
The surname only of the artist;
In the opinion of the Auctioneer a work of the school or by one of the
followers of the artist or in his style.
The surname of the artist preceded by ‘after’;
In the opinion of the Auctioneer a copy of the work of the artist.
‘Signed’/’Dated’/’lnscribed’;
In the opinion of the Auctioneer the work has been signed/dated/
inscribed by the artist.
‘With Signature’/’with date’/’with inscription’;
In the opinion of the Auctioneer the work has been signed/dated/
inscribed by a person other than the artist.
‘Attributed to’;
In the opinion of the Auctioneer probably a work of the artist.
Studio of/Workshop of’
In the opinion of the Auctioneer a work executed in the studio of the
artist and possibly under his supervision.
‘Circle of’;
In the opinion of the Auctioneer a work of the period of the artist and
showing his influence.
‘Follower of’;
In the opinion of the Auctioneer a work executed in the artist’s style yet
not necessarily by a pupil.
‘Manner of’;
In the opinion of the Auctioneer a work executed in artist’s style but of
a later date.
‘*’;
None of the terms above are appropriate but in the Auctioneer’s opin-
ion the work is a work by the artist named.
GENERAL CONDITIONS
Auctioneer Acting as Agent
3. The Auctioneer is selling as agent for the seller unless it is specifically
stated to the contrary. The Auctioneer as agent for the seller is not
responsible for any default by the seller or the buyer.
Auctioneer Bidding on behalf of Buyer
4. It is suggested that the interests of prospective buyers are best pro-
tected 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, servants or agents
shall be responsible for any neglect or default in executing bids or fail-
ing to execute bids.
Admission to Auctions
5. The Auctioneer shall have the right exercisable in its absolute discre-
tion to refuse admission to its premises or attendance at its auctions
by any person.
Acceptance of Bids
6. The Auctioneer shall have the right exercisable in its absolute dis-
cretion to refuse any bids, advance the bidding in any manner it may
decide, withdraw or divide 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 ben-
efit 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 Auctioneer in any
Catalogue as to contribution, authorship, genuineness, source, origin,
date, age, provenance, condition or estimated selling price or value is
a statement 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 judgment and opinion as to such matters.