TERMS OF SALE
Both the sale of goods at our auctions and your
relationship with us are governed by the Terms of Consignment
(primarily applicable to sellers) the Terms of Sale (primarily
applicable to bidders and buyers) and any notices displayed in the
saleroom or announced by us at the auction (collectively, the
"Conditions of Business"). The Terms of Consignment and Terms
of Sale are available at our saleroom on request.
Please read these Terms of Sale carefully. Please
note that if you register to bid and/or bid at auction this
signifies that you agree to and will comply with these Terms of
Definitions and interpretation
1.1 To make
these Terms of Sale easier to read, we have given the following
words a specific meaning:
means Lacy Scott & Knight, a partnership registered in
England and Wales and whose registered office is located at 10
Risbygate Street, Bury St Edmunds, Suffolk, IP33 3AA.
means a person participating in bidding at the auction;
means the person who makes the highest bid for a Lot accepted by
means: (a) an imitation made with the intention of deceiving as
to authorship, origin, date, age, period, culture or source; (b)
which is described in the catalogue as being the work of a
particular creator without qualification; and (c) which at the date
of the auction had a value materially less than it would have had
if it had been as described;
means the level of the highest bid for a Lot accepted by the
Auctioneer by the fall of the hammer;
means the goods that we offer for sale at our auctions;
means the premium that we will charge you on your purchase of a
Lot to be calculated as set out in Clause 4;
means the minimum hammer price at which a Lot may be sold;
means the net amount due to the Seller;
means the persons who consign Lots for sale at our auctions;
"Terms of Consignment"
means the terms on which we agree to offer Lots for sale in our
auctions as agent on behalf of Sellers;
"Terms of Sale"
means these terms of sale, as amended or updated from time to
"Total Amount Due"
means the Hammer Price for a Lot, the Premium, any applicable
artist's resale right royalty, any VAT due and any additional
charges payable by a defaulting buyer under these Terms of
means a Seller who is acting for purposes relating to that
Seller's trade, business, craft or profession, whether acting
personally or through another person acting in the trader's name or
on the trader's behalf;
means Value Added Tax or any equivalent sales tax; and
means our website available at www.lsk.co.uk .
In these Terms of Sale the words 'you', 'yours', etc. refer to
you as the Buyer. The words "we", "us", etc. refer to the
Auctioneer. Any reference to a 'Clause' is to a clause of these
Terms of Sale unless stated otherwise.
Information that we are required to give to Consumers
description of the main characteristics of each Lot as contained in
the auction catalogue.
2.2 Our name,
address and contact details as set out herein, in our auction
catalogues and/or on our Website.
2.3 The price
of the Goods and arrangements for payment as described in
Clauses 4, 5, 7 and 8.
arrangements for collection of the Goods as set out in Clauses 8
right to return a Lot and receive a refund if the Lot is a
Deliberate Forgery as set out in Clause 13.
2.6 We and
Trader Sellers have a legal duty to supply any Lots to you in
accordance with these Terms of Sale.
2.7 If you
have any complaints, please send them to us directly at the address
set out on our Website.
Bidding procedures and the Buyer
3.1 You must
register your details with us before bidding and provide us with
any requested proof of identity and billing information, in a form
acceptable to us. You must also satisfy any security arrangements
we have in place before entering the auction room to view or
strongly recommend that you attend the auction in person. You
are responsible for your decision to bid for a particular
Lot. If you bid on a Lot, including by telephone and online
bidding, or by placing a commission bid, we assume that you have
carefully inspected the Lot and satisfied yourself regarding its
3.3 If you
instruct us in writing, we may execute commission bids on your
behalf. Neither we nor our employees or agents will be
responsible for any failure to execute your commission bid, unless
our failure to do so is unreasonable. Where two or more commission
bids at the same level are recorded we have the right to prefer the
first bid made (where this can be reasonably ascertained).
Bidder placing the highest bid for a Lot accepted by the Auctioneer
will be the Buyer at the Hammer Price. Any dispute about a
bid will be settled at our discretion. We may reoffer the Lot
during the auction or may settle the dispute in another way. We
will act reasonably when deciding how to settle the dispute.
will be deemed to act as principals, even if the Bidder is acting
as an agent for a third party.
3.6 We may
bid on Lots on behalf of the Seller up to one bid below the
3.7 We may
refuse to accept any bid if it is reasonable for us to do so.
increments will be at our sole discretion (but will be in line with
standard auction practice).
The purchase price
As Buyer, you will pay:
- the Hammer Price;
- a premium of 17.5% (plus VAT) of the Hammer Price;
- any artist's resale right royalty payable on the sale of the
- any VAT due.
5.1 You shall
be liable for the payment of any VAT applicable on the Hammer Price
and premium due for a Lot. Please see the symbols used in the
auction catalogue for that Lot and the "Information for Buyers" in
our auction catalogue for further information.
5.2 We will
charge VAT at the current rate at the date of the auction.
The contract between you and the Seller
contract for the purchase of the Lot between you and the Seller
will be formed when the hammer falls accepting the highest bid for
the Lot at the auction.
6.2 You may
directly enforce any terms in the Terms of Consignment against a
Seller to the extent that you suffer damages and/or loss as a
result of the Seller's breach of the Terms of Consignment.
6.3 If you
breach these Terms of Sale, you may be responsible for damages
and/or losses suffered by a Seller or us. If we are contacted by a
Seller who wishes to bring a claim against you, we may in our
discretion provide the Seller with information or assistance in
relation to that claim.
normally act as an agent only and will not have any responsibility
for default by you or the Seller (unless we are the Seller of the
Immediately following your successful bid on a Lot you will:
give to us, if not already provided to our satisfaction, proof of
identity in a form acceptable to us (and any other information that
we require in order to comply with our anti-money laundering
pay to us the Total Amount Due in cash (for which there is an upper
limit of 15,000 euros equivalent) or in any other way that we agree
to accept payment.
7.2 If you
owe us any money, we may use any payment made by you to repay these
Title and collection of purchases
8.1 Once you
have paid us in full the Total Amount Due for any Lot, ownership of
that Lot will transfer to you. You may not claim or collect a
Lot until you have paid for it.
8.2 You will
(at your own expense) collect any Lots that you have purchased and
paid for either:
not later than seven business days following the day of the
not later than seven businessdaysfollowing the date that we have
received payment of the Total Amount Due in cleared funds, if
8.3 If you do
not collect the Lot within this time period, you will be
responsible for any reasonable removal, storage and insurance
charges in relation to that Lot.
8.4 Risk of
loss or damage to the Lot will pass to you when you (or your
agents) take physical possession of the Lot.
8.5 If you do
not collect the Lot that you have paid for within ninety days after
the auction, we may sell the Lot. We will pay the proceeds of
any such sale to you, but will deduct any storage charges or other
sums that we have incurred in the storage and sale of the Lot. We
reserve the right to charge you a selling commission at our
standard rates on any such resale of the Lot.
Remedies for non-payment or failure to collect purchases
9.1 Please do
not bid on a Lot if you do not intend to buy it. If your bid
is successful, these Terms of Sale will apply to you. This
means that you will have to carry out your obligations set out in
these Terms of Sale. If you do not comply with these Terms of
Sale we may (acting on behalf of the Seller and ourselves) pursue
one or more of the following measures:
take action against you for damages for breach of contract;
reverse the sale of the Lot to you and/or any other Lots sold by us
resell the Lot by auction or private treaty (in which case you will
have to pay any difference between the price you should have paid
for the Lot and the price we sell it for as well as the charges
outlined in Clause 8.5). Please note that if we sell the Lot
for a higher amount than your winning bid, the extra money will
belong to the Seller;
remove, store and insure the Lot at your expense;
if you do not pay us within five business days of your successful
bid, we may charge interest at a rate not exceeding 1.5% per month
on the total amount due;
keep that Lot or any other Lot sold to you until you pay the Total
reject or ignore bids from you or your agent at future auctions or
impose conditions before we accept bids from you; and/or
if we sell any Lots for you, use the money made on these Lots to
repay any amount you owe us.
9.2 We will
act reasonably when exercising our rights under Clause 9.1.
We will contact you before exercising these rights and try to work
with you to correct any non-compliance by you with these Terms of
Health and safety
Although we take reasonable precautions regarding health and
safety, you are on our premises at your own risk. Please note
the lay-out of the premises and security arrangements.
Neither we nor our employees or agents are responsible for the
safety of you or your property when you visit our premises, unless
you suffer any injury to your person or damage to your property as
a result of our, our employees' or our agents' negligence.
The Seller warrants to us and to you that:
Seller is the true owner of the Lot for sale or is authorised by
the true owner to offer and sell the lot at auction;
Seller is able to transfer good and marketable title to the Lot to
you free from any third party rights or claims; and
11.1.3 as far
as the Seller is aware, the main characteristics of the Lot set out
in the auction catalogue (as amended by any notice displayed in the
saleroom or announced by the Auctioneer at the auction) are
If, after you have placed a successful bid and paid for a Lot, any
of the warranties above are found not to be true, please notify us
in writing. Neither we nor the Seller will be liable to pay you any
sums over and above the Total Amount Due and we will not be
responsible for any inaccuracies in the information provided by the
Seller except as set out below.
Please note that many of the Lots that you may bid on at our
auction are second-hand.
a Lot is not second-hand and you purchase the Lot as a Consumer
from a Seller that is a Trader, a number of additional terms may be
implied by law in addition to the Seller's warranties set out at
Clause 11.1 (in particular under the Consumer Rights Act 2015).
These Terms of Sale do not seek to exclude your rights under law as
they relate to the sale of these Lots.
Save as expressly set out above, all other warranties, conditions
or other terms which might have effect between the Seller and you,
or us and you, or be implied or incorporated by statue, common law
or otherwise are excluded.
Descriptions and condition
Our descriptions of the Lot will be based on: (a) information
provided to us by the Seller of the Lot (for which we are not
liable); and (ii) our opinion (although it is likely that we will
not be able to carry out a detailed inspection of each Lot).
will give you a number of opportunities to view and inspect the
Lots before the auction. You (and any independent consultants
acting on your behalf) must satisfy yourself about the accuracy of
any description of a Lot. We shall not be responsible for any
failure by you or your consultants to properly inspect a Lot.
Representations or statements by us as to authorship, genuineness,
origin, date, age, provenance, condition or estimated selling price
involve matters of opinion. We undertake that any such opinion will
be honestly and reasonably held and accept liability for opinions
given negligently or fraudulently.
Please note that Lots (in particular second-hand Lots) are unlikely
to be in perfect condition. Lots are sold "as is" (i.e. as
you see them at the time of the auction). Neither we nor the
Seller accept any liability for the condition of second-hand Lots
or for any condition issues affecting a Lot if such issues are
included in the description of a Lot in the auction catalogue (or
in any saleroom notice) and/ or which the inspection of a Lot by
the Buyer ought to have revealed.
You may return any Lot which is found to be a Deliberate Forgery to
us within 28 days of the auction (but must contact us in writing
within 14 daysof the auction) provided that you return the Lot to
us in the same condition as when it was released to you,
accompanied by a written statement identifying the Lot from the
relevant catalogue description and a written statement of
we are reasonably satisfied that the Lot is a Deliberate Forgery we
will refund the money paid by you for the Lot (including any
Premium and applicable VAT) provided that if:
catalogue description reflected the accepted view of experts as at
the date of the auction; or
personally are not able to transfer good and marketable title in
the Lot to us,
you will have no right to a refund under this Clause 13.2.
you have sold the Lot to another person, we will only be liable to
refund the price that you paid for the Lot. We will not be
responsible for repaying any additional money you may have made
from selling the Lot.
Your right to return a Lot that is a Deliberate Forgery does not
affect your legal rights and is in addition to any other right or
remedy provided by law or by these Terms of Sale.
liability to you
will not be liable for any loss of opportunity or disappointment
suffered as a result of participating in our auction.
addition to the above, neither we nor the Seller shall be
responsible to you and you shall not be responsible to the Seller
or us for any other loss or damage that any of us suffer that is
not a foreseeable result of any of us not complying with the
Conditions of Business. Loss or damage is foreseeable if it is
obvious that it will happen or if at the time of the sale of the
Lot, we, you and the Seller knew it might happen.
Subject to Clause 14.4, if we are found to be liable to you for any
reason (including, amongst others, if we are found to be negligent,
in breach of contract or to have made a misrepresentation), our
liability will be limited to the total purchase price paid by you
to us for any Lot.
Notwithstanding the above, nothing in these Terms of Sale shall
limit our liability (or that of our employees or agents) for:
or personal injury resulting from negligence (as defined in the
Unfair Contract Terms Act 1977);
fraudulent misrepresentation; or
liability which cannot be excluded by law.
All notices between you and us regarding these Terms of Sale must
be in writing and signed by or on behalf of the party giving
Any notice referred in Clause 15.1 may be given:
delivering it by hand;
first class pre-paid post or Recorded Delivery; or
email, provided that a copy is also sent by pre-paid post or
Notices must be sent:
hand or registered post:
- to us, at our address set out in these Terms of Sale or at our
registered office address appearing on our Website; and
- to you, at the last postal address that you have given to us as
your contact address in writing; or
- to us, by sending the notice to both the following email
firstname.lastname@example.org and email@example.com
- to you, by sending the notice to any email address that you
have given to us as your contact email address in writing.
Notices will be deemed to have been received:
delivered by hand, on the day of delivery;
sent by first class pre-paid post or Recorded Delivery, two
business days after posting, exclusive of the day of posting;
sent by email, at the time of transmission unless sent after 17.00
in the place of receipt in which case they will be deemed to have
been received on the next business day in the place of receipt
(provided that a copy has also been sent by pre-paid post or
Recorded Delivery as set out in Clause 15.2.3.
Any notice or communication given under these Terms of Sale will
not be validly given if sent by fax, email, any form of messaging
via social media or text message.
All client details remain confidential and will not be released
to any third parties unless required by law.
may, acting reasonably, refuse admission to our premises or
attendance at our auctions by any person.
act as an agent for our Sellers. The rights we have to claim
against you for breach of these Terms of Sale may be used by either
us, our employees or agents, or the Seller, its employees or
agents, as appropriate. Other than as set out in this Clause, these
Terms of Sale are between you and us and no other person will have
any rights to enforce any of these Terms of Sale.
may use special terms in the catalogue descriptions of particular
Lots. You must read these terms carefully along with any
glossary provided in our auction catalogues.
Each of the clauses of these Terms of Sale operates
separately. If any court or relevant authority decides that
any of them are unlawful, the remaining clauses will remain in full
force and effect.
may change these Terms of Sale from time to time, without notice to
you. Please read these Terms of Sale carefully, as they may be
different from the last time you read them.
Except as otherwise stated in these Terms of Sale, each of our
rights and remedies are: (a) are in addition to and not exclusive
of any other rights or remedies under these Terms of Sale or
general law; and (b) may be waived only in writing and
specifically. Delay in exercising or non-exercise of any
right under these Terms of Sale is not a waiver of that or any
other right. Partial exercise of any right under these Terms
of Sale will not preclude any further or other exercise of that
right or any other right under these Terms of Sale. Waiver of
a breach of any term of these Terms of Sale will not operate as a
waiver of breach of any other term or any subsequent breach of that
These Terms of Sale and any dispute or claim arising out of or in
connection with them (including any non-contractual claims or
disputes) shall be governed by and construed in accordance with the
laws of England and the parties irrevocably submit to the exclusive
jurisdiction of the English courts.
These terms are based upon
recommended terms of sale by the Society Of Fine Art Auctioneers
& Valuers (www.sofaa.org )
of which we are members.