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Terms for Sellers

  • 1. All goods delivered to Potburys of Sidmouth Auctioneers and Valuers (hereafter “Potburys”) will be deemed to be delivered for sale by Auction and will be sold at Potburys’ discretion subject to the Terms for Sellers and Terms for Buyers and Conditions of Sale. The Seller acknowledges that the Buyer is to be bound by the Terms for Buyers and Conditions of Sale. BUYER’S PREMIUM is chargeable, all such commission shall be entirely retained together with VAT by Potburys.
  • 2. DEFINITION “Auctioneer” means Potburys or its authorised auctioneer
  • 3. WARRANTY OF TRUE OWNERSHIP AND INDEMNITIES BY SELLER
  • 3.1 The Sellers warrants that they are the true owner of the goods consigned for sale, or are properly authorised by the true owner to consign the goods for sale, and that they are able to transfer good and marketable title to the property free from any third party claims. The Seller shall indemnify Potburys against any loss or expense caused by a breach of this clause.
  • 3.2 The Seller acknowledges and agrees to indemnify Potburys for the return of any purchase money received in respect of any claims. Potburys, at their sole discretion shall refund the sale price if Potburys has received from the Buyer evidence that in his view the lot is misrepresented, either in form, attribution, or age at the point of sale. The sale of the lot will be rescinded and the purchase price of the same refunded. In the event of dispute then the matter shall be settled by independent qualified arbitration.
  • 3.3 The Seller warrants that they have revealed all relevant information they possess about the items consigned for sale, including provenance, repairs and alteration. The Seller shall indemnify Potburys against any loss or expense caused by a breach of this clause.
  • 4. IDENTITY The seller shall provide proof of their identity and address. Payment is normally made by cheque and this shall be made only to the named seller and sent to their stated address. Alternatively payment can be made by BACS to the named seller only.
  • 5. AGENCY AND DEFAULT BY BUYER Potburys acts throughout as an agent only and is not responsible for any default by the Buyer. Potburys will not pay the Seller until they have received full settlement from the Buyer. The remedies which Potburys may at their discretion apply against a defaulting Buyer are set in Clause 19 of the Terms for Buyers and Conditions of Sale.
  • 6. RIGHT TO REFUSE
  • 6.1 Potburys reserve the right to refuse any lots unsuitable for sale at their absolute discretion. Lots not suitable for sale shall include (but not be limited to) items not conforming to the 1988 Fire Regulations. Any lots unsuitable for sale will be disposed of at Potburys’ discretion and a charge will be made to the Seller for this service based on the cost of disposing of such items in accordance with environmental and other relevant legislation. In particular, the disposal of electrical items is subject to special conditions and charged accordingly.
  • 6.2 Lots accepted for sale will be placed into the first available and appropriate sale, either a fortnightly General Sale or seasonal Antiques and Decorative Sale, at the discretion of Potburys. Due to constraints of floor space, it follows that Lots might not be necessarily entered into the first auction that follows the day on which the Lots are delivered to Potburys. Ordinarily, storage charges are not made under these circumstances.
  • 6.3 Low value items will not be entered into a subsequent sale if they do not sell at the first-attempt and will be disposed of and a charge for this made to the Seller. Low value items falling within the terms of this clause will be identified to the Seller in the pre-auction advice letter.
  • 6.4 The Seller’s attention is drawn to clause 13.5 concerning minimum reserves.
  • 7. RESTRICTED ITEMS
  • 7.1 There are strict laws concerning the possession, sale, import and export of certain items including (but not limited to) firearms, ivory, taxidermy and birds eggs. The cost of any additional research or investigation relating to the sale of restricted items and, where necessary, the obtaining of a relevant licence for sale, shall be borne by the Seller.
  • 7.2 The sale of alcoholic liquor is conditional upon Potburys being granted a licence to do so by the Local Authority. The cost of applying for this licence shall be borne by the Seller.
  • 8. COMMISSION AND EXPENSES The Seller authorises Potburys to deduct commission and expenses at the stated rates from the hammer price. The rate of commission on items entered for General Sales and for Antiques and Decorative Sales is 18%, with a minimum commission of £1 per lot. VAT is payable on the commission by the Seller. Each consignment is subject to a handling and administration charge of £12 plus VAT. These charges shall apply to Lots sold by private treaty after the auction (clause 13.2).
  • 9. STORAGE AND STORAGE CHARGES
  • 9.1 Potburys reserves the right to store or arrange for the storage of goods delivered to them for Sale either on their own premises or elsewhere at their sole discretion, subject to clause 6.2 of these Terms. Further, the Seller will be liable for storage charges if the Seller has provided insufficient instructions to enable us to offer the Lot(s) for sale, or if the Seller requests to withdraw a Lot(s) or to store any item.
  • 9.2 Storage will be charged for any lots failing to sell and stored for collection by the Seller.
  • 9.3 Storage is charged at a weekly rate of not less than £10 + VAT per week per Lot, with additional charges for large or special items.
  • 10. CHARGES FOR WITHDRAWING LOTS The fee for withdrawing a lot after cataloguing but prior to sale is 10% of the reserve price or 10% of the value estimated by Potburys if no reserve has been agreed (with a minimum charge of £10).
  • 11. POTBURYS’ LIEN AND RIGHT TO SELL Sellers will be charged for goods left on the premises if the seller has been requested to remove them. If the goods are not removed within 7 days of such request, Potburys reserve the right to sell the goods and use the sale proceeds to defray costs and storage charges.
  • 12. INSURANCE All goods held for sale on Potburys’ premises and in our custody will be held insured against the risk of fire, burglary, water damage and loss, the value to be assessed by Potburys or their appointed assessors at Auction reserve price or the estimated price if no reserve has been agreed. Liability will not be accepted if the goods received have been insufficiently packed.
  • 13. RESERVES
  • 13.1 All goods are put up for sale WITHOUT RESERVE unless instructions are received by Potburys prior to the commencement of the sale. The Auctioneer will reserve the right to 10% discretion of the agreed reserve.
  • 13.2 In the event of the reserve price not being attained at Auction, Potburys are empowered to sell after the Auction, by private treaty at the discretion of the Auctioneer, so long as the goods remain on Potburys premises. Such a sale by private treaty would be subject to the agreed reserve and the 10% discretion.
  • 13.3 Where a Lot(s) is offered for auction in a sale with a reserve, and that lot(s) does not sell because the reserve price is not reached, it shall be at Potburys’ discretion to re-enter the Lot(s) in a subsequent sale at a reduced reserve.
  • 13.4 If Potburys are given instructions by the Seller to sell a Lot at a certain reserve, and Potburys notifies the Seller in advance of the sale that they do not agree with that reserve, but at their sole discretion agrees to enter the lot into the sale at that reserve specified by the Seller, then in the event of that lot failing to sell because it had not reached its reserve price, a charge of 15% of the reserve price shall be made to the Seller.
  • 13.5 Potburys at their discretion will not place a reserve on a Lot with a lower estimate of less than £20 in a General Sale or on a Lot with a lower estimate of £40 in an Antiques & Decorative Sale.
  • 13.6 The Seller may not bid on any lot which they are selling.
  • 14. SELLERS WHO ARE REGISTERED FOR VAT A Seller who consigns any Lot(s) which is an asset of the Seller’s business must disclose to Potburys whether or not he is a registered person for Value Added Tax purposes. The Seller must supply their registered number where appropriate.
  • 15. ARTIST’S RESALE RIGHTS (“droit de suite”) Royalties where necessary falls to the liability of the Buyer.
  • 16. PHOTOGRAPHY AND ILLUSTRATION The Seller gives full and absolute rights to photograph any Lot consigned to Potburys for sale for the purpose of illustrating the auction catalogue, advertisements in newspapers and magazines, and Potburys’ website.
  • 17. SALE RESULTS AND FUTURE MARKETING The seller authorises Potburys to publish results of sale of any lot consigned to Potburys for sale, and to use photographs and sale result of any lot in any future newspaper, magazine, or internet advertisement, on Potburys’ website, or in any Potburys’ marketing material.
  • 18. COMMISSION BIDS The seller agrees to Potburys accepting commission bids on behalf of any Buyer, subject to the terms and conditions imposed upon the Buyer in this respect.
  • 19. CONSUMER PROTECTION ACT 1987 (ELECTRICAL APPLIANCES): To conform to this Act the Seller authorises Potburys to test all electrical appliances which are entered into the sale. The charge for this test, to be paid by the Seller, is £2 for small items and £6 for large items. Except for antique items, electrical appliances which do not pass the safety test cannot be sold. The Seller and the Buyer should note that the fact that an electrical item has passed a safety test does not imply that it is in full working order.
  • 20. DIVULGENCE TO HMRC We will supply details, where requested by HMRC, regarding lots sold in excess of £25,000 under Schedule 23 to Finance Act 2011, or regarding any other enquiries they may make.
  • 21. PRIVATE TREATY AND CONSUMER LEGISLATION Private treaty sales made under these Terms are deemed to be sales by auction for purposes of consumer legislation.
  • 22. ENGLISH LAW APPLIES TO THE INTERPRETATION OF THESE TERMS FOR SELLERS
  • Registered in London: No. 493320 VAT. Registered No: 141 0326 25
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