Sworders Objects Of Desire - Wednesday 3 October 2018

62 information, in a form acceptable to us. You must also satisfy any security arrangements we have in place before entering the auction room to view or bid. 3.2 We strongly recommend that you attend the auction in person. You are responsible for your decision to bid for a particular Lot. If you bid on a lot, including by telephone and online bidding, or by placing a commission bid, we assume that you have carefully inspected the Lot and satisfied yourself regarding its condition. 3.3 If you instruct us in writing, we may execute commission bids on your behalf. Neither we nor our employees or agents will be responsible for any failure to execute your commission bid, unless our failure to do so is unreasonable. Where two or more commission bids at the same level are recorded we have the right to prefer the first bid made (where this can be reasonably ascertained). 3.4 The Bidder placing the highest bid for a Lot accepted by the Auctioneer will be the Buyer at the Hammer Price. Any dispute about a bid will be settled at our discretion. We may reoffer the Lot during the auction or may settle the dispute in another way. We will act reasonably when deciding how to settle the dispute. 3.5 Bidders will be deemed to act as principals, even if the Bidder is acting as an agent for a third party. 3.6 We may bid on Lots on behalf of the Seller up to one bid below the Reserve. 3.7 We may refuse to accept any bid if it is reasonable for us to do so. 3.8 Bidding increments will be at our sole discretion (but will be in line with standard auction practice). 4. The purchase price As Buyer, you will pay: a. the Hammer Price; b. a premium of 23% plus VAT of the Hammer Price or 15% plus VAT for our Fine Wine and Port Auction; c. any artist's resale right royalty payable on the sale of the Lot; and d. any VAT due. 5 VAT 5.1 You shall be liable for the payment of any VAT applicable on the Hammer Price and premium due for a Lot. Please see the symbols used in the auction catalogue for that Lot and the "Information for Buyers" in our auction catalogue for further information. 5.2 We will charge VAT at the current rate at the date of the auction 6. The contract between you and the Seller 6. 1 The contract for the purchase of the Lot between you and the Seller will be formed after the hammer falls when the highest bid for the Goods at the auction is written into the Auction book by the Auctioneer. 6.2 You may directly enforce any terms in the Terms of Consignment against a Seller to the extent that you suffer damages and/or loss as a result of the Seller's breach of the Terms of Consignment. 6.3 If you breach these Terms of Sale, you may be responsible for damages and/or losses suffered by a Seller or us. If we are contacted by a Seller who wishes to bring a claim against you, we may in our discretion provide the Seller with information or assistance in relation to that claim. 6.4 We normally act as an agent only and will not have any responsibility for default by you or the Seller (unless we are the Seller of the Lot). 7. Payment 7.1 Immediately following your successful bid on a Lot you will: 7.1.1 give to us, if not already provided to our satisfaction, proof of identity in a form acceptable to us (and any other information that we require in order to comply with our antimoney laundering obligations); and 7.1.2 pay to us the Total Amount Due in any way that we agree to accept payment. Note there is an upper limit of 10,000 euros equivalent for payments in cash. 7.2 If you owe us any money, we may use any payment made by you to repay these debts. 8. Title and collection of purchases 8.1 Once you have paid us in full the Total Amount Due for any Lot, ownership of that Lot will transfer to you. You may not claim or collect a Lot until you have paid for it. 8.2 You will (at your own expense) collect any Lots that you have purchased and paid for not later than 5pm on the Friday following the auction. 8.3 If you do not collect the Lot within this time period, you will be responsible for any reasonable removal and storage charges in relation to that Lot. 8.4 Risk of loss or damage to the Lot will pass to you when you (or your agents) take physical possession of the Lot. 8.5 If you do not collect the Lot that you have paid for within thirty days after the auction, we may sell the Lot. We will pay the proceeds of any such sale to you, but will deduct any storage charges or other sums that we have incurred in the storage and sale of the Lot. We reserve the right to charge you a selling commission at our standard rates on any such resale of the Lot. 9. Remedies for non-payment or failure to collect purchases 9.1 Please do not bid on a Lot if you do not intend to buy it. If your bid is successful, these Terms of Sale will apply to you. This means that you will have to carry out your obligations set out in these Terms of Sale. If you do not comply with these Terms of Sale we may (acting on behalf of the Seller and ourselves) pursue one or more of the following measures: 9.1.1 take action against you for damages for breach of contract; 9.1.2 reverse the sale of the Lot to you and/or any other Lots sold by us to you; 9.1.3 resell the Lot by auction or private treaty (in which case you will have to pay any difference between the price you should have paid for the Lot and the price we sell it for as well as the charges outlined in Clause 8 5). Please note that if we sell the Lot for a higher amount than your winning bid, the extra money will belong to the Seller; 9.1.4 remove, store and insure the Lot at your expense; 9.1.5 if you do not pay us within five business days of your successful bid, we may charge interest at a rate not exceeding 1.5% per month on the total amount due; 9.1.6 keep that Lot or any other Lot sold to you until you pay the Total Amount Due; 9.1.7 reject or ignore bids from you or your agent at future auctions or impose conditions before we accept bids from you; and/or 9 .1.8 if we sell any Lots for you, use the money made on these Lots to repay any amount you owe us. 9.2 We will act reasonably when exercising our rights under Clause 9.1 We will contact you before exercising these rights and try to work with you to correct any non- compliance by you with these Terms of Sale. 10. Health and safety Although we take reasonable precautions regarding health and safety, you are on our premises at your own risk. Please note the lay-out of the premises and security arrangements. Neither we nor our employees or agents are responsible for the safety of you or your property when you visit our premises, unless you suffer any injury to your person or damage to your property as a result of our, our employees' or our agents' negligence. 11. Warranties 11.1 11.1 The Seller warrants to us and to you that: 11. 1.1 the Seller is the true owner of the Lot for sale or is authorised by the true owner to offer and sell the lot at auction; 11.1.2 the Seller is able to transfer good and marketable title to the Lot to you free from any third party rights or claims; and 11.1.3 as far as the Seller is aware, the main characteristics of the Lot set out in the auction catalogue (as amended by any notice displayed in the saleroom or announced by the Auctioneer at the auction) are correct. 11.2 If, after you have placed a successful bid and paid for a Lot, any of the warranties above are found not to be true, please notify us in writing. Neither we nor the Seller will be liable to pay you any sums over and above the Total Amount Due and we will not be responsible for any inaccuracies in the information provided by the Seller except as set out below. 11.3 Please note that many of the Lots that you may bid on at our auction are second- hand. 11.4 If a Lot is not second-hand and you purchase the Lot as a Consumer from a Seller that is a Trader, a number of additional terms may be implied by law in addition to the Seller's warranties set out at Clause 11.1 (in particular under the Consumer Rights Act 2015). These Terms of Sale do not seek to exclude your rights under law as they relate to the sale of these Lots.