TERMS & CONDITIONS OF SALE
Throughout the website, clients will find comprehensive details of the various terms and conditions of business which we employ. Below we have compiled a resume of the major points which may prove most relevant. In the event of any queries whatsoever, customers are most welcome to contact us for clarification.
1. Entering a bid at auction forms a binding contract, enforceable in full by both vendor and purchaser.
2. To enter a bid with Principality Auctions implies deemed consent to the terms and conditions of sale hereunder.
3. All bids, communicated by whatever medium, must be received by the specified closing date of the sale. No bid received after this date will be considered other than in relation to unsold lots.
4. Telephone bids are accepted but must be confirmed in writing or by means of electronic media if so requested.
5. Extension requests for Certificates of Authenticity from named Expertising Bodies must be sought in writing prior to the close of sale in order that the vendor of the item(s) in question may give express consent to the process. Extensions will not be granted in relation to any item sold for under £100.
6. Any bid may be cancelled prior to the close of sale. The verbal cancellation of a bid by telephone must be confimed in writing or by electroic media.
7. In the event of tied bids being received, the earliest bid received shall prevail.
8. All new customers shall be issued pro-forma invoices following the sale. Such invoices shall be payable in full ten days from receipt (inland) or twenty one days from receipt (overseas). The issue of such invoices to any customer at any time shall be at the absolute discretion of the auctioneer. Similarly, those customers in receipt of goods following the sale shall be liable to pay for such purchases within a similar timescale to those receiving pro-forma invoices.
9. All lots shall, in the absence of contrary instructions, be dispatched by a method which fully insures their value. Any purchaser may opt in writing to have their goods dispatched by an uninsured or under-insured method of dispatch but if such goods are lost or damage in transit, the auctioneer shall be absolved of any responsibility over and above the specified limit of any compensation/insurance paid for by the purchaser.
10. Lots subject to extensions shall be submitted with due diligence to the agreed Expertising Body. Such lots shall be paid for upon receipt in the normal way. In the event that the item(s) fail to gain a Certificate of Authenticity the purchase price shall be immediately refunded upon receipt of the item(s) by the auctioneer and the costs of the abortive expertisation process shall be borne by the vendor. In the event that said item(s) are granted a Certificate of Authenticity, the costs of the expertisation process shall be borne by the purchaser.
11. In the event that item(s) are submitted to an Expertising Body without written consent being sought for an extension prior to the close of sale and the item(s) fail to gain a Certificate of Authenticity, the purchase price shall be immediately repayable to the purchaser. However, the costs of the expertisation process in such instances shall be borne by the purchaser, the vendor having been granted no opportunity to consent to the process.
12. A purchaser may only reject a lot solely on the ground that it does not conform to the catalogue description. Such lots must be returned within seven days of receipt (inland) or twenty one days of receipt (overseas). The onus of proving a lot to be not genuine, or incorrectly described, shall rest with the purchaser. Any lot returned must be in the same condition as it was at the time of sale. No lot shall be rejected if, subsequent to the sale it has been immersed in water, marked by an expert or expert committee, or treated by any other process unless the auctioneer's permission to subject the lot to such immersion, marking or other treatment has been obtained in writing (NB - Many continental experts now mark forged stamps. It is essential permission is sought from the auctioneer before submitting to these experts).
13. Overdue accounts will be charged compound interest at a rate of 4% per month or part month that the account remains overdue.
14. Payments to vendors are made promptly 49 days from the date of sale. Lots sold on a pro-forma basis and which remain unpaid after 49 days shall be settled immediately the overdue payment is received by the auctioneer.