Conditions for Sale

CONDITIONS OF SALE FOR THE AUCTION
- PURCHASERS

1. The highest accepted bidder shall be the Purchaser immediately the lot/lots have been knocked down to him.  Should any dispute arise between two or more bidders, the Auctioneer will declare the Purchaser.  The Auctioneer's decision in all cases is final.

2. The Auctioneer does not hold himself responsible for any errors of description and makes no warrantee or representation in that regard.  All goods are sold Voetstoots. A bid shall be taken as proof that the bidder has made himself acquainted with the lot for which he bids. AUTHENTICITY & PROVENANCE OF PAINTINGS ARE NOT GUARANTEED.

3. THE TERMS: Cash or Bank guaranteed cheques - all accounts must be paid immediately at the conclusion of each day's sale.  In default of which, the lot/lots purchased may be immediately put up again and resold at the defaulters risk.  Ownership of the goods sold vests at all times in the Auctioneer's principal until payment in full has been made.  Cheques tendered will not be accepted as cash until paid by the bank.

4. The Auctioneer's Vendue Roll of Sale is final. No dispute will be taken into consideration as to the correctness of same.

5. The Auctioneer reserves the right to regulate the bidding, to refuse any bid/bidding, to withdraw any lot or lots from the sale and to stipulate any reserve price as imposed by his principal.

6. All lots knocked down remain at the risk of the Purchaser.

7. The removal of fixtures, fittings and all other articles purchased shall be at the Purchasers risk and cost, but shall be subject to storage costs if not removed on the day of the sale.

8. In the event of legal proceedings being instituted, the Auctioneer shall be entitled, at his own option, to institute such proceedings in the Auctioneers name, whether or not he is acting as an agent.

9. In the event of the Purchaser's default in compliance with any of these conditions the damages recoverable from the defaulter shall include any loss arising on any resale of the goods, together with the charges and expenses in respect of both sales and any deposit held by the Auctioneers shall be forfeited as Rouwkoop.

CONDITIONS OF SALE - SELLER

Hereunder V&H shall refer to Vigne & Howard

1.  Vigne & Howard's Discretion

V&H shall have absolute discretion as to the following:

  • Whether to offer any Lot for sale or not
  • Whether the Lot is suitable for sale by V&H and, if so, the place and date of sale
  • The conditions of sale and manner in which such sale is conducted.

2.Warrant and Indemnity

The Seller warrants to V&H and the Buyer that he/she will be able to transfer good and marketable title to the Lot free from all liens and encumbrances.  The Seller shall indemnify V&H, its employees and the Buyer against all claims made or proceedings bought by persons entitled or purporting to be entitled to the Lot and shall reimburse V&H on demand for all payments, costs, expenses or any other loss or damage whatsoever made, incurred or suffered as a result of any breach by the Seller.

3. Reserves

"NETT" Reserves are unacceptable.  Our full charges are deducted from all Sales.  Lots will be offered without reserve unless agreed in writing between the Seller and V&H and, once the reserve has been agreed, it may only be changed with the consent of V&H.  The Seller shall not bid for his/her property, nor employ any person to bid for him/her.  V&H alone shall have the right to bid, on behalf of the Seller, up to the reserve amount.

4. Commissions and Expenses

 The Seller authorizes V&H to deduct commission and expenses, at the quoted rates, from the hammer price and notwithstanding that V&H is his/her agent, acknowledges that V&H may retain the Premium payable by the Buyer in accordance with the Buyer's Conditions. The commission and expenses payable by the Seller are subject to VAT at the prevailing rate.  In the case of Lots failing to reach their reserve a charge of 5% may be made on the reserve price, this charge is subject to VAT at the prevailing rate.

5. Insurance

All property sent to or deposited with V&H for sale, valuation or any other purpose whatsoever will at all times remain at the risk of the Seller or consignor and neither V&H nor its employees will be responsible for any loss or damage whether caused by negligence or otherwise, even where negligence is alleged or proven.

6. Payment of Proceeds of Sale

V&H shall pay the Proceeds of  sale to the Seller 30 (thirty) days from date of sale if the Purchase Price has been settled in full by the Buyer.  If by the due date, V&H has not received the Purchase Price in full from the Buyer, V&H will pay the Proceeds of Sale within seven working days after the ae on which full settlement is received from the Buyer.  If before the Purchase Price is paid in full by the Buyer and V&H pays to the Seller an amount equal to the Proceeds of Sale, property in the Lot shall pass to V&H.

7. Unsold Lots

Lots unsold on auction must be collected at the Seller's expense within the period of seven days after notification by V&H requesting him/her to collect unsold property.  Upon the expiry of such period, V&H shall have the right to sell such Lots by public or private sale and on such terms as it thinks fit, and to deduct from the Proceeds of Sale any sums owing to V&H including, without limitation, removal, storage and insurance expenses.

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