EUROPE'S NO 1
SPECIALIST SPORTING
AUCTION HOUSE

• t&c for vendors
• t&c for purchasers

Terms And Conditions Of Sale

for VENDORS

All entries will be accepted up until 8 weeks prior to each auction and must be delivered to the premises for correct cataloguing. A collection service is available for large consignments by arrangement. Items received after the specified closing date will automatically be entered in the next scheduled sale.
Unless instructions are received to the contrary in writing, all goods will be offered without reserve.
Any items unsold will be re-offered automatically in the next available sale unless we receive your written instructions to the contrary.

1.

a) The commission from the Vendor is charged at the rate of 15% on all sporting and fishing tackle sales and 16% on Historical Documents sales.

b) A handling and photograph fee will be charged on all lots entered and sold.

c) Lots may be offered subject to a reserve as agreed between the Auctioneers and Vendor and once agreed may only be changed with the consent of the Auctioneers.

d) The Vendor shall not bid for his property or employ any person to bid for him, except for the Auctioneers who alone shall have the right to bid on behalf of the seller.

e) Items withdrawn from the sale after the items have been catalogued are subject to a withdrawal fee of 10% of the reserve price or lower guide price (minimum £5) to cover handling and cataloguing costs.

f) Items withdrawn from the sale at the instructions of the Vendor must be collected within 2 working days of the sale after which the Auctioneers reserve the right to send to storage any remaining goods at the sole expense of the Vendor and without notification.

g) A non sold fee of up to 5% may be charged at the Auctioneers discretion.

h) VAT is chargeable at the standard rate on all of the Auctioneers charges.

2. GENERAL

a) The auctioneers act only as agent for the Vendor and the Vendor warrants to the Auctioneers that he is entitled to sell.

b) The Vendors shall indemnify the Auctioneers, agents and the buyer against all claims made or proceedings brought by persons entitled or purporting to be entitled to the Lot and shall reimburse the Auctioneers on demand of all payments, expenses, costs or any other loss or damage whatsoever made, incurred or suffered as a result of any breach by the Vendor of a) above.

c) The Auctioneers shall have complete discretion as to whether to offer for sale or not: the description of the property in their catalogue or other literature: the printed estimate price of any Lots in the catalogue: and seeking the views of any expert: and illustrate the property in their catalogue at the expense of the Vendor up to a maximum of £40 for black and white, and £100 for colour photographs.

3. LOSS & DAMAGE WARRANTY

Unless otherwise stated (in which case the property remains at the owner's risk) goods will be covered for loss and damage whilst in the possession of Mullock's Ltd, for which a charge of 1% of hammer price, plus VAT at the standard rate, is made.

Mullock's Ltd is not regulated by the FSA for the provision of insurance to its clients. However Mullock's Ltd, for its own protection, insures property consigned to it at the bottom of the presale estimate, unless the item has been sold. If sold, the property is insured at the hammer price for loss occasioned as a result of theft, fire or negligence whilst in its custody and control.

4. ARTIST'S RESALE RIGHTS

Since 2006, the Artist's Resale Right has entitled a living artist to a royalty each time their work is resold.

Changes in UK legislation from 1 January 2012 means that this Right is extended to include sales of works of art by artists who have died within the last 70 years, with the royalty being paid to the heirs and beneficiaries of the artist.

Consequently, Mullock's Ltd will recover this royalty for qualifying artists from the Vendor's sale proceeds, with the deduction showing on the Vendor Account as "Artists Resale Scheme".

Mullock's Ltd will pass all monies collected to the Design and Artists Copyright Society (DACS) whose responsibility it is to collect resale royalties on behalf of artists who are entitled to receive the Right.

Further details of eligibility and calculation methods can be obtained from this office.

5. PAYMENTS

a) The proceeds of the sale will be held by Mullock's Ltd as stakeholders in favour of the Vendor in a client account until such time as the net proceeds for the sale become due and payable to the Vendor. Such proceeds may be placed in an interest bearing account to which the Vendor will not be beneficially entitled to any interest earned.

b) The net proceeds will become due and payable to the Vendor one month after the date of the sale provided that the Auctioneers have, by then, been paid the purchase price in full by the buyer. If by the due date the Auctioneers have not received payment in full from the buyer, the proceeds of the sale will be paid 7 days after full payment is received by the Auctioneers. In the event of a defaulting buyer the Auctioneers reserve the right to cancel the sale of any Lot(s) purchased and to return the goods to the Vendor.

6. VENDORS VAT STATUS

The Vendor must give the Auctioneers all relevant information as to his VAT status with regard to the Lots to be sold which he warrants is and will be correct and upon which the Auctioneers reserve the right to cancel the sale of any Lot(s) purchased and to return the goods to the Vendor.

7. UNSOLD GOODS

Unsold goods may be re-offered with a reserve at the discretion of the Auctioneers. Reserves will not be carried forward

8. RETURNS

a) Property returned at the request of the Vendors shall be returned at their risk and expense and will not be insured in transit unless the Auctioneers have received special instructions.

b) These conditions constitute together with the matters set out on the receipt from the entire agreement made between the Auctioneers and the Vendor.

ONLINE AUCTIONS

If you cannot attend the auction in person, you can use your computer to bid live in competition with those in the saleroom.

Visit
www.the-saleroom.com