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BUYING

It’s easy to find and snap up the antique or contemporary item of your dreams. All it takes is some careful bidding, a little know-how and some luck. Just follow these steps for auction success! 

In PersonAbsentee: 'Commission Bid'Online Commission BidLive BiddingTelephone BidBuyer's PremiumPayment & CollectionExport Of GoodsDroit de SuiteConditions of Sale

In Person

Firstly, you will need to register with Reception before you can start bidding.

- It takes approximately 10 minutes and as auctions get really busy, please leave enough time to complete the process.

- You will be asked for the following information: your name, address, telephone number, email address and a valid credit/debit card. Alternatively you may be asked to leave a cash deposit.

- Once registration is complete, you won’t need to do this again (but please let us know if you have any changes to your personal details). On your second visit, just state your name and show some photo id at reception to get all the relevant documentation you need for the auction.

- Next, a paddle will be handed to you. It’s a card printed with a personal buyer number for you to use in the auction. A different number will be allocated for any future auctions you attend. It is important that you quote this number on any communication with us.

- During the auction, when you wish to bid on an item, just raise the paddle and make the auctioneer aware of your intention.

- Other bidders will do the same thing and they may bid against you.

- The auctioneer will continue to accept bids until all but one of the bidders drops out.

Absentee: 'Commission Bid'

If you can’t attend the auction there are several options available to you. One of them is to leave an ‘absentee bid’.

This enables you to leave a price value that the auctioneer and the salesroom clerk can bid up to, on your behalf, during the auction. They will always try to secure the item for the lowest price possible.

It’s good to know that if two bids of equal value are received, preference is given to the bid that arrives first. Preference is also given to bids left directly with Lots Road Auctions over those left with the-saleroom.com. A top tip is to leave an amount that doesn’t end in a zero or five.

i.e.     £203 instead of £200

If you are willing to be flexible about the price you pay for a lot, try using a maximum of three + symbols for each 10% increase you are willing to go up to.

i.e.     £300+    = £330
          £300++  = £360

NB: a lot won’t be sold for less than 50% of the highest ‘absentee bid’, e.g. A £300 ‘commission bid’ means a lot will not be sold for less than £150.

Online Commission Bid (available from 6pm each Thursday)

It couldn’t be simpler to leave an online commission bid.

Just go to our online catalogue and click ‘Leave an Absentee/Commission Bid’ tab against the lot you want to bid on.

If you are already registered, just enter your user name and password, which will allow you to place the commission bid.

First time buyers will need to register and provide full contact details before a bid can be placed. You will then receive a confirmation email.

Useful Information

- Any changes or cancellations to commission bids needs to be made before 11am on the day of the auction.

- Check online commission bids by going to ‘My Profile - My Bids’. You can also amend or delete bids from that page too.

- Personal details can be changed by going to the ‘My Details’ page and amending the relevant contact information.

- If you bid successfully you will be contacted by phone to confirm collection and payment. An email will be sent to any bidder we have been unable to reach.

 - Auction results will be available to view from 7pm on Sunday evening.

Important information

- All lots must be paid for and collected by 1pm on the Tuesday after the auction.

- Storage charges will be incurred after this time at a rate of £20 + VAT per day, per lot.

- All online commission bidding closes at 11am on the day of the auction. No bids will be accepted after this time. If any changes or cancellations to bids are required then please call us on 020 7376 6800.

Live Bidding

Through our online partner, The Saleroom, you can now place ‘absentee bids’ from 6pm every Thursday or live bids whilst the auction is taking place.

Follow these steps for a smooth bidding experience:

-    You will need to register on The Saleroom site and then register to bid in the Lots Road Auctions listing (under Current Auctions).

-    As soon as you’ve received confirmation of your registration you can leave a commission bid or live bid when the lots comes up for auction.

Useful Information
-    Leave plenty of time to register for the auction.

-    Absentee bids are available up to one hour before the start of the auction.

-    There is an added 3% + VAT surcharge added on all successful internet bid sales.

-    Lots Road Auction’s standard Terms & Conditions apply.

Telephone Bid

A telephone bid is a free-of-charge bidding service, available on lots with a minimum estimate of £400-500.

A member of staff will call the buyer and relay the bids to the auctioneer during the bidding of the desired lot. Please respond quickly and clearly so our staff member can do the best possible job they can for you. The auctioneer’s hammer can come down very quickly and once down the sale of that lot is over.

Useful Information
-    There is a maximum of five live telephone bids per lot. Early booking is advised!

-    A member of staff will call the buyer approximately five lots ahead of the intended lot. Be sure to provide a contact number you can be reached on at all times.

-    Telephone lines and mobile phone reception aren’t 100% reliable. All telephone bidders are asked to provide two telephone numbers, plus a covering bid. It means that the auction clerk can bid on the buyer’s behalf in the event of a communication failure.

 

Buyer's Premium

The buyer's premium is a percentage the buyer pays in addition to the hammerprice.

The current premium is 22% on all lots + VAT (26.4% including VAT).

There is an additional charge of 3% + VAT when successfully bidding via the saleroom.

Payment & Collection

Lots can be paid for during and after the auction, with the following methods:
-    Instant Bank Transfer (preferred):
Bank: HSBC, Pall Mall, SW1Y
Acc Name: Lots Road Auctions
Sort code: 40 05 20
Acc Number: 0137 3870
IBAN: GB81MIDL 40052001373870
Swift Code: HBUKGB4B 
-    Cash
-    Debit card
-    Credit card (£500 maximum transaction)

Please use your Buyer reference and auction date as the payment reference and contact cashiers@lotsroad.com to inform us of the payment

Collection
Lots must be paid for and collected by 1pm on Tuesday.
We recommend Callaghan & Newbury to arrange for larger items to be transported. A representative will be in the showroom on the day of the auction. Bill Callaghan: 07903 299810 and Terry Newbury: 07794 751445.

INTERNATIONAL CARRIERS
Hedley's Worldwide                                      020 8965 8733               hedleyshumpers.com    
Veho Ltd                                                         020 7622 3141              veholtd.com
Davies Turner International                         01322 277558                daviesturner.com                          
Anglo Pacific World Movers                         020 8965 1234               anglopacific.co.uk                          
Forship Group                                               020 8560 2100               forshipltd.co.uk 
Brothers STS                                                  01708 607900               brothers-sts.co.uk                        
Trans-Portugal Removals                             020 8807 6677               trans-Portugal.co.uk                      
Andrews Shipping                                         020 8805 5588              andrewsshipping.co.uk                
Mondial Forwarding (Greece/Cyprus)         020 8805 3344              mondialtransport.co.uk                
Mail Boxes Etc.                                              020 7352 6344              mbechelsea.co.uk               

SPECIALIST PIANO REMOVAL
Gordon                                                             07956 489223
S & E Removals                                                020 8424 2158

Storage
If lots aren’t collected by Tuesday 1pm, a storage charge of £20 + VAT per lot per day will incur.

Export Of Goods

As you may be aware several countries prohibit the importation of property containing materials from endangered species, such as rhino horn, ivory, animal skin, coral and tortoiseshell. If you are interested in bidding on a lot containing these materials and you wish to export please make sure you are familiar with all relevant customs regulations prior to bidding: Animal and Plant Health Agency.

It is the buyers’ sole responsibility to obtain any relevant export or import licences.

Droit de Suite

An item marked as subject to Artists Resale Rights (Droit de Suite) means a royalty charge for the artist will be applied. This affects artworks of living artists and to those who have died in the last 70 years, from applicable countries. An artwork must sell for over 1,000 euros (the equivalent pounds sterling), to qualify and is charged at 4% of the hammer price. For further information go to DACS and ACS.

Lots Road Auctions will collect the royalty from the buyer, at the point of payment, for any qualifying works of art.

Conditions of Sale

CONDITIONS OF SALE APPLICABLE TO BUYERS

1. Definitions. In these Lots Road Auctions act only as auctioneers and agents for the seller and the representative of Lots Road Auctions conducting the auction is called the 'Auctioneer'.

2. General. Whilst Lots Road Auctions makes every effort to ensure the accuracy of their catalogues and the description of any lot:-

(a) Each lot as set out in the catalogue or as divided or combined with any other lot or lots sold by the seller with all faults, imperfections and errors of description. All electrical items are untested.

(b) Lots Road Auctions do not accept responsibility for the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot unless they have been instructed in writing by the seller to so certify, and in such case the auctioneers do so as agents of the seller and are not themselves responsible for such claims. Before bidding bidders must ensure they are satisfied with the condition of the lot - for details of condition please contact conditionreports@lotsroad.com. We cannot guarantee a response to condition and image requests received after 1 hour before the start of the auction

(c) All statements whether printed in the catalogue, made orally or in writing as to any of the matters set out in (b) above are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by Lots Road Auctions unless they have been instructed in writing by the seller to so certify.

(d) Any claim under any Statute must be received in writing by the Auctioneers within ten days of the day of the sale.

3. The Auction.(a) The Auctioneer has absolute discretion to divide any lot, to combine any two or more lots or withdraw any lot or lots from the sale, to refuse bids, regulate bidding or cancel the sale without in any case giving any reason or without previous notice. He may bid on behalf of the seller for all goods which are being offered subject to reserve or at the auctioneer's discretion.

(b) The highest bidder shall be the buyer except in the case of a dispute. The Auctioneer may at his sole discretion determine the advance of bidding or refuse a bid. If during the auction the Auctioneer considers that a dispute has arisen, he has absolute discretion to settle it or to re-offer the lot.

(c) Each lot is put up for sale subject to any reserve price placed by the seller. Where no reserve has been placed (but not otherwise) the seller has the right to bid either personally or by any one person on his behalf (who may be the Auctioneer).

(d) All conditions, notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statements modifying or affecting the same made by the Auctioneer from the rostrum prior to any bid being accepted for the lot.

4. Rescission. Notwithstanding any other terms of these Conditions, if within fourteen days after the sale Lots Road Auctions have received from the buyer of any lot notice in writing that in his view the lot is a deliberate forgery and within twenty-one days after such notification the buyer returns the same to Lots Road Auctions in the same condition as at the time of sale and by producing evidence, the burden of proof to be upon the buyer, satisfies Lots Road Auctions that considered in the light of the entry in the catalogue the lot is a deliberate forgery, then the sale of the lot will be rescinded and the purchase price of the same refunded. The seller and the buyer agree to be bound by Lots Road Auction's decision.

5. Default. Lots Road Auctions disclaim responsibility for default by either the buyer or the seller because they act as agents for the seller only and therefore do not pay out to the seller until payment is received from the buyer. Instructions given by telephone are accepted at the sender's risk and must be confirmed in writing forthwith.

6. In the event of a sale by private treaty both the seller and the buyer agree to be bound by the General and any Special Conditions of Sale.

7. Third Party Liability. Every person on Lots Road Auction's premises at any time shall be deemed to be there at his own risk. He shall have no claim against Lots Road Auctions in respect of any accident which may occur or injury, damage or loss howsoever caused, save in so far as the injury, damage or loss shall be caused by the direct negligence of Lots Road Auction's employees.

8. Inspection. Opportunity is given for inspection and each buyer by making a bid for a lot acknowledges that he has satisfied himself fully before bidding by inspection or otherwise to all the Sale Conditions, the physical condition of and description of the lot including but not restricted to whether the lot is damaged or has been repaired or restored. It is the buyer's 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. All electrical items are untested.

9. Property and Risk. The legal title in a lot shall not pass to the buyer until the lot(s) has been paid for in full and the Auctioneers shall be entitled to a lien on any lot sold until the purchase price and all charges (as defined in 10 below) are paid in full, but each lot is at the sole risk of the buyer from the fall of the hammer. Each buyer shall forthwith give his full names and permanent address and if called upon to do so by the Auctioneer shall forthwith pay Lots Road Auctions such proportion of the purchase price as the Auctioneer may require. If the buyer fails to do so, the lot may at the auctioneer's sole direction be put up again and re-sold.

10. Every bidder shall be deemed to act as principal unless there is in force a written acknowledgement by Lots Road Auctions that he acts as agent on behalf of a named principal.

11. Removal of Goods.

(a) Purchases may be cleared (after payment) during the auction with the aid of the porters. All lots shall be paid for and removed at the buyer's risk and expense by 1pm on the Tuesday after the auction, failing which the Auctioneer shall not be responsible if the same are lost, stolen, damaged or destroyed, and all lots not so removed shall remain at the risk of the buyer and subject to a warehousing charge of £20 +VAT per lot per day. If they are not paid for and removed within two days of the sale the Auctioneer may re-sell them by auction or privately without notice to the buyer. Any liability which there may be on the part of the Auctioneer in respect of any loss shall be restricted to a maximum of the price paid by the buyer of the lot. N.B. We are unable to provide a packing service and only hold a minimal amount of packing material.

(b) In the event of any failure of the buyer to comply with any of the above conditions the damages recoverable by the seller or the Auctioneers from the defaulter shall include any loss arising on any re-sale of the lots, together with the charges and expenses in respect of both sales, and together with interest at 2% above HSBC Base Rate upon the price of any lot which has not been paid for within forty-eight hours of the sale, and any money deposited in part payment shall be held by the Auctioneers on account of any liability of the defaulter to them or to the seller.

12. Purchase Price. The buyer shall pay the hammer price together with a premium at the stated rates on the hammer price of 22% + VAT (26.4% incl.). Under the Auctioneers' Margin Scheme operated by HM Customs & Excise, the premium does attract VAT as an addition to the stated premium rate.

 Lots on which Value Added Tax is payable on or included in the hammer price are indicated in the catalogue or description sheet with an asterisk (*). VAT is payable on or included in the hammer price of such lots at the rates prevailing on the day of the auction

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. £850) or more. Artist's Resale Right royalties are not subject to VAT.

13. Fixed Bids. Lots Road Auctions will execute bids on behalf of intending buyers unable to attend the sale at no charge. Lots Road Auctions undertake to purchase lots as cheaply as allowed by other bids and reserves, but will not be sold for less than 50% of the highest 'Fixed Bid' left. Bids must be submitted in writing (in person or via email) and whilst every care is taken in carrying out instructions Lots Road Auctions cannot be held responsible for errors or omissions made in carrying out such bids.

14. Live telephone bids will be accepted on lots with an estimate of £400 upwards. Telephone bids on lots of a lower value may be accepted at our discretion. Live Telephone, fixed and Internet bids are subject to a 'failure to communicate', it is better to be in the room or leave a bid.

15. Live Bidding

Lots Road Auctions offer an online bidding service via www.the_saleroom.com for bidders who cannot attend the sale. In completing the bidder registration on www.the_saleroom.com and providing credit/debit card details and unless alternative arrangements are agreed with Lots Road Auctions you:

1. confirm that you have read, understood and will comply with Lots Road Auctions Buyer's Conditions of Sale

2. confirm that you are authorised to provide these credit/debit card details to Lots Road Auctions through www.the_saleroom.com

Please note that any lots purchased via www.the_saleroom.com service will be subject to an additional 3% fixed charge + VAT at the rate imposed on the hammer price

LOTS ROAD AUCTIONS Company Registration Number: 3943446

Vat Registration Number: 243 0680 84

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