Sworders Modern British & 20th Century Art 20 April 2021

138 2. TERMS OF SALE Please note that if you register to bid and/or bid at auction this signifies that you agree to and will comply with these Terms of Sale. These Terms of Sale relate to auctions conducted by an Auctioneer only. We have separate terms for online only auctions. 1. Definitions and interpretation 1.1 To make these Terms of Sale easier to read, we have given the following words a specific meaning: In these Terms of Sale the words ‘you’, ‘yours’, etc. refer to you as the Buyer. The words ‘we’, ‘us’, etc. refer to the Auctioneer. Any reference to a ‘Clause’ is to a clause of these Terms of Sale unless stated otherwise. 2. Information that we are required to give to Consumers 2.1 A description of the main characteristics of each Lot as contained in the auction catalogue. 2.2 Our name, address and contact details as set out herein, in our auction catalogues and/or on our Website. 2.3 The Price of the Goods and arrangements for payment as described in Clauses 4, 5, 7 and 8. 2.4 The arrangements for collection or delivery of the Goods as set out in Clauses 8 and 9. 2.5 Your right to return a Lot and receive a refund if the Lot is a Deliberate Forgery as set out in Clause 13. 2.6 We and Trader Sellers have a legal duty to supply any Lots to you in accordance with these Terms of Sale. 2.7 If you have any complaints, please send them to us directly at the address set out on our Website. 3. Bidding procedures and the Buyer 3.1 You must register your details with us before bidding and provide us with any requested proof of identity and billing 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 re-offer 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 25% 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, Premium and Shipping Costs (if applicable) 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 when the Auctioneer records the winning Lot in the sale book accepting the highest bid for the Lot at auction, unless due diligence information required by the Auctioneer under the Money Laundering Regulations 2019 in accordance with their internal procedure remains outstanding, in which case the contract will be formed when that information is accepted by the Auctioneer as complete. 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 at 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 anti-money laundering obligations); and 7.1.2 pay to us the total amount due in any way that we agree to accept payment. 7.1.3 pay in full the Shipping Costs prior to the Goods being shipped, should you agree to the Auctioneer’s shipping agent delivering the Goods. 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, or such later date as is specified in the printed catalogue or on our Website. 8.3 If you agree to the Auctioneer delivering the Goods, only when the full Shipping Costs have been paid will the Goods be dispatched. We reserve the right that some Lots will not be suitable for an automated shipping estimate and will require bespoke quotes from the shipping agent. 8.4 Should you decide to use the delivery service, you thereby agree to allow the Auctioneer to share relevant personal data that we hold with the shipping agent in order to allow effective communication between the shipping agent and you, and to enable delivery. 8.5 If you do not collect the Lot within the time period under Clause 8.2, you will be responsible for any reasonable removal and storage charges in relation to that Lot. 8.6 Risk of loss or damage to the Lot will pass to you when you (or your agents) take physical possession of the Lot. 8.7 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. ‘Auctioneer’ means GES & Sons Ltd trading as Sworders Fine Art Auctioneers, a company registered in England and Wales with registration number 6858916 and whose registered office is located at Cambridge Road, Stansted Mountfitchet, Essex CM24 8GE or its authorised Auctioneer, as appropriate; ‘Bidder’ means a person who places a bid for Goods at our auction; ‘Buyer’ means the person who makes the highest bid for the Goods accepted by the Auctioneer; ‘Commission’ means the Commission that we charge you on the sale of the Goods as set out in Clause 5 below; ‘Consumer’ means an individual acting for purposes which are wholly or mainly outside that individual’s trade, business, craft or profession; ‘Consumer Contracts Regulations’ means the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013; ‘Deliberate Forgery’ means: (a) an imitation made with the intention of deceiving as to authorship, origin, date, age, period, culture or source; (b) which is described in the catalogue as being the work of a particular creator without qualification; and (c) which at the date of the auction had a value materially less than it would have had if it had been as described; ‘FCA’ means the Financial Conduct Authority; ‘Goods’ means the Goods that have been consigned to us for sale at our auction; ‘Hammer Price’ means the level of the highest bid for a Lot accepted by the Auctioneer; ‘Premium’ means the Premium charged to the Buyer on the sale of the Goods in accordance with the Terms of Sale; ‘Price’ means the total of the Hammer Price, Premium, Shipping Costs (if applicable) and any applicable VAT; ‘Proceeds’ means the Price less the Commission, the Premium, Shipping Costs, any expenses incurred to your account and any applicable VAT; ‘Reserve’ means the minimum Price at which the Goods may be sold; ‘Seller’ means the owner of the Goods and any agent who consigns the Goods for sale on the owner’s behalf (if applicable); ‘Shipping Costs’ means the charges applied to the shipping of all Goods purchased, should the Buyer ask for the Auctioneer’s shipping agent to deliver the Goods (if applicable); ‘Terms of Consignment’ means these Terms of Consignment; ‘Terms of Sale’ means the Terms of Sale for Bidders or Buyers at our auctions; ‘Trader’ means a Seller who is acting for purposes relating to that Seller’s trade, business, craft or profession, whether acting personally or through another person acting in the Trader’s name or on the Trader’s behalf (such as an agent and/or the Auctioneer); ‘VAT’ means any value added tax or equivalent sales tax; and ‘Website’ means our Website available at www.sworder.co.uk .