Information for Buyers
The following informative notes are intended to assist buyers, particularly those
inexperienced or new to our salerooms. All sales are conducted on our printed
Conditions of Sale
which are readily available for inspection and normally accompany catalogues. Our
staff will be happy to help you if there is anything you do not fully understand.
As auctioneers we usually contract as agents for the seller whose identity, for
reasons of confidentiality, is not normally disclosed. Accordingly if you buy, your
primary contract is with the seller.
Estimates are designed to help buyers gauge what sort of sum might be involved for
the purchase of a particular lot. The lower estimate may represent the reserve price
and certainly will not be below it. Estimates do not include the buyer's Premium
or VAT (where chargeable). Estimates are prepared some time before the sale and
may be altered by announcement before the sale. They are in no sense definitive.
4. Buyer's Premium
Conditions of Sale
oblige buyers to pay a Buyer's Premium of
(plus VAT at 20%), which is equivalent to a VAT inclusive rate of
23.4% . For selected sales we
do offer an additional online 'live bidding' service, buyers using this facility
will be subject to an additional 3% premium plus VAT.
A 'dagger' symbol indicates that VAT is payable by the buyer at the standard rate
(presently 20%) on the hammer price as well as being an element in the buyer's premium.
This imposition of VAT is likely to be because the seller is registered for VAT
within the European Union and is not operating the Dealers Margin Scheme or because
VAT is due at 20% on importation into the UK. The double 'dagger' symbol indicates
that the lot has been imported from outside the European Union and the present position
is that these lots are liable to a reduced rate of VAT (5.0%) on the hammer price
and 20% on the buyer's premium. Lots which appear without either of the above symbols
indicate that no VAT is payable on the hammer price. This is because such lots are
sold using the Auctioneers' Margin Scheme and it should be noted that the VAT included
within the Premium is not recoverable as input tax.
6. Artist's Resale Right ("Droit de Suite")
If a lot is affected by this right it will be identified with the symbol "*" next
to the lot number. The buyer agrees to pay Bearnes Hampton & Littlewood an amount
equal to the resale royalty and we will pay such amount to the artist's collecting
agent. Resale royalty applies where the Hammer Price is 1,000 Euro or more and the
amount cannot be more than 12,500 Euro per lot. The amount is calculated as follows:
Royalty for the portion of the Hammer Price (in Euro) 4.00% up to 50,000 3.00% between
50,000.1 and 200,000 1.00% between 200,000.1 and 350,000 0.50% between 350,000.01
and 500,000 0.25% in excess of 500,000 Invoices will, as usual, be issued in Pounds
Sterling. For the purposes of calculating the resale royalty the Pounds Sterling/Euro
rate of exchange will be the European Central Bank reference rate on the day of
7. Condition of Lots
We are, primarily, agents for the seller. We are dependent on information provided
by the seller and whilst we may inspect lots and act reasonably in taking a general
view about them we are normally unable to carry out a detailed or any examination
of lots in order to ascertain their condition in the way in which it would be wise
for a buyer to do. Intending buyers have ample opportunity for inspection of goods
and, therefore, accept responsibility for inspecting and investigating lots in which
they may be interested. Please note carefully the exclusion of liability for the
condition of lots contained in the
Conditions of Sale.
Neither the seller nor we, as the auctioneers, accept any responsibility for their
condition. In particular mechanical objects of any age are not guaranteed to be
in working order. However, in so far as we have examined the goods and make a representation
about their condition, we shall be liable for any defect which that examination
ought to have revealed to the auctioneer but which would no have been revealed to
the buyer had the buyer examined the goods. Additionally, in specified circumstances
lots mis-described because they are 'deliberate forgeries' may be returned and repayment
made. There is a 3 week time limit. (The expression 'deliberate forgery'
is defined in our
Conditions of Sale).
8. Electrical Goods
These are sold as 'antiques' only and if bought for use must be checked over for
compliance with safety regulations by a qualified electrician first.
9. Export of Goods
The export of any lot from the UK or import into any other country may be subject
to one or more export or import licences being granted. It is the buyers responsibility
to obtain any relevant export or import licence. The denial of any licence required
or delay in obtaining such licence cannot justify the cancellation of the sale or
any delay in making payment of the total amount due.
Buyers intending to export goods should ascertain (a) whether an export licence
is required and (b) whether there is any specific prohibition on importing goods
of that character because, eg: they may contain prohibited materials such as ivory.
Ask us if you need help.
Bidders will be required to register before the sale commences and lots will be
invoiced to the name and address on the registration form. Some form of identification
may be required if you are unknown to us. Please enquire in advance about our arrangements
for telephone bidding.
11. Commission Bidding
Commission bids may be left with the auctioneers indicating the maximum amount to
be bid excluding buyer's premium. They will be executed as cheaply as possible having
regard to the reserve (if any) and competing bids. If two buyers submit identical
commission bids, the auctioneers may prefer the first bid received. Please enquire
in advance about our arrangements for the leaving of commission bids by telephone
12. Methods of Payment
As a general rule, any cheques tendered will need to be cleared before removal of
the goods is permitted. Please discuss with our office in advance of the sale if
other methods of payment are envisaged.
Methods of Payment
13. Collection and Storage
Please note what the
Conditions of Sale
state about collection and storage. It is important that goods are paid for and
collected promptly. Any delay may involve the buyer in paying our removal and storage