Conditions of sale for Buyers

1. The highest bidder to be the buyer. If any dispute arises the Auctioneers shall have absolute discretion to settle it and put any disputed lot up again for sale.
2. All buyers are deemed to have read and understood our methods of payment, as outlined in the catalogue.
3. All buyers Accounts are to be settled within 24 hours.
4. Buyer’s premium 17.02% + VAT payable on all lots (20% including VAT). There will be an additional charge of 5% + VAT for all successful buyer's who have registered through the-saleroom.com.
5. Lots marked with an asterisk* in the catalogue denote that 17.5% VAT is payable on top of the hammer price i.e. a total of 37.5% on the hammer price.
6. Certain works by living artists, will incur an Artist's Resale Right royalty charge of 4%, when sold with a hammer price of € 1000 (approx. £680) or more. Artist's Resale Right royalties are not subject to VAT.
7. All lots are put up for sale subject to any reserved price imposed by the vendor, or as recommended by Lots Road Auctions as agents.
8. Ownership of the offered lot shall pass to the buyer upon the fall of the auctioneer’s hammer when the auctioneer announces that the lot has been sold, from which point the buyer shall assume full risk and responsibility for the lot. The buyers to have pre-registered and given Lots Road Auctions permission to charge all monies due to Lots Road Auctions.
9. All lots are sold as shown with all faults, imperfections and errors of description or of genuineness of authenticity. Messrs. Lots Road Auctions makes no warranty whatsoever. See (10).
10. The lots to be taken away at the buyer’s risk and expense, not later than 6.00pm on the day after the sale; in default of which Messrs. Lots Road Auctions will not hold themselves responsible if the same are lost, stolen, damaged or otherwise destroyed but they will be left at the sole risk of the purchaser, and subject to a charge of warehousing of £10.00 per lot per day (PLUS VAT). If at the expiration of the two days after the conclusion of the sale, unless otherwise agreed, the lots are not cleared and/or paid for, they may be sold immediately either publicly or by private treaty without notice being given to the defaulters.
11. It is the buyers’ responsibility to measure any item to ensure that it can be accommodated in its’ intended location. All buyers must check their purchases before the lots leave the building. Lots Road Auctions will accept no claims for loss or damage thereafter.
12. Upon failure of the buyer to comply with any of the above conditions, the money deposited in part payment shall be forfeited; and the defaulter shall make good any loss arising from the resale, together with the charges and expenses in respect to both sales.
13. Care is taken to ensure that any statement as to authorship, attribution, origin, date, age, provenance and condition is reliable and accurate but all statements are statements of opinion and are not to be taken as statements or representations of fact. The Auctioneers reserve the right in the forming their opinion to consult and rely upon the expert opinion or Authority reasonably considered by them to be reliable.
14. Purchases may be cleared (after payment) during the sale with the aid of the porters.
15. Written bids (“Commission Bids”) shall be taken and carried out for the convenience of the bidders. Messrs. Lots Road Auctions shall not be responsible for failing to execute such bids or errors relating to the execution of such bids.
16. Live telephone bids will only be accepted on lots with an estimate of £500 upwards. Any lots estimated below this will be accepted as a commission bid. Live Telephone Bids are subject to a “failure to communicate”, it is better to be in the room or leave a bid.