CONDITIONS OF SALE

1. Definitions involved.  In these conditions "the Auctioneer(s)" means Lacy Scott and Knight or their representative.
2. Third party liability. Every person on the Auctioneers'premises, before, during or after the sale shall be deemed to be there at his own risk and with no notice of the condition of the premises and of the method of arranging chattels etc.  He shall have no claim againstthe Auctioneersin respect of any injury he may sustain or any accident to his person or to his property.
3. Damage. At the sole discretion of the Auctioneer, any persons damaging any lot(s) by their actions (whether accidental or not) may be liable for the repair or reinstatement of that lot(s), or they shall be deemed as the Buyer of the lot(s) at the reserve price or  at the published estimate or atthe Auctioneer'sopinion of value prior to damage.
4. Condition of lots. Neither the Auctioneer nor the Vendor is responsible for the conditions of lots listed.  The absence of any such reference does not imply that a lot is in good order or free from imperfections.  All lots are sold as seen with all faults, imperfections and errors of description. The Auctioneersdisclaim for themselves and on behalf of the Vendor all responsibility for authenticity, age, origin, condition or quality.  All comments and statements made bythe Auctioneer, whether printed in the catalogue or made orally, are statements of opinion and must not be taken as representations of fact.  Buyers are deemed to have satisfied themselves on authenticity and condition before bidding. The Auctioneerhas no authority to make any representation of fact.  The Sale of Goods Act 1979 ass amended isnotapplicable.
5. Bidding. The Auctioneer has absolute discretion to divide anyLotto combine any two or more Lots, to withdraw anyLot, or Lots from the sale, to refuse bids and to regulate the bidding or cancel the sale without in any case giving any reason or without previous notice.  He may bid on the Vendor's behalf for all goods that are being offered subject to a reserve or atthe Auctioneer'sdiscretion.
6. Fall of the Hammer.  The highest bidder (subject to 5 above) shall be the Buyer.  If, however, any dispute arisesthe Auctioneerhas absolute discretion to settle the dispute or to re-offer theLot.  At the fall of the hammer, everyLotshall be at the risk of the Buyer who shall give tothe Auctioneerhis name address and if so required bythe Auctioneer, his bank and other suitable references.  The Buyer may also be required to pay the whole or any part of the purchase price asthe Auctioneermay require in default of whichthe Auctioneermay re-offer and resell the Lot or Lots in question.
7. Buyer's Premium.  A Buyer's commission at the current rate published in the room will be charged in addition to the hammer price of eachLot(this will be exclusive of VAT at the prevailing rate).
8. VAT. VAT at the prevailing rate will be charged, as appropriate, on Buyer's and Seller's commission and charges.  VAT will also be charged on the hammer price of lots when appropriate.  This will be indicated bythe Auctioneerprior to the sale.
9. Bank. Our Bank: Lloyds Bank Plc,28 Risbygate Street, Bury St Edmunds,Suffolk(Sort Code 30-91-49) Tel No: 01284 767161.
10. Payment. All payments must be made at the conclusion of the sale unless prior written arrangements have been made withthe Auctioneers.  Interest will be charged on monies outstanding 7 days after the sale date at the rate of 5% above the bank base rate, chargeable per week or part thereof.  Cheques will be accepted up to the limit of the banker's guarantee card.  Intending Buyers who wish to settle their account by cheques over that limit may be required to produce a banker's reference at the time of payment.  The goods will remain inthe Auctioneer'spossession until the cheque has been cleared.
11. Title. Legal title shall not pass to the Buyer of anyLotor Lots until they have been paid for in full, including premium and any additional charges that may have been incurred.  However, eachLotwill immediately on the fall of the hammer be and remain in every respect at the risk of the Buyer.
12. Collection of Lots. All Lots must be paid for in full at the conclusion of the sale (Condition 10 above) and are to be collected within 7 days.  Goods not collected within this time will be subject to a storage and handling charge of £2 perLotper day or part thereof, at the sole discretion ofthe Auctioneer.  No goods purchased will be handed over without production of a receipt settling both purchase price and any charges that may be incurred through handling.
13. Default. Failure to settle an account within one calendar month will result, at the Auctioneers'discretion, in the Lots being re-offered at public auction in an attempt to recover the debt.  Any deficiency in the outstanding amount and all expenses incurred will be charged to the defaulting Buyer and pursued through the courts until the debt is settled.  Any further charges incurred in pursuance of the debt will be recovered from the defaulting Buyer. The Auctioneerreserves the right to refuse bids from a defaulting Buyer. The Auctioneersdisclaim responsibility for default by either the Buyer or the Vendor, because they act as Auctioneers and Agents only and may not pay out to the Vendor until payment is received from the Buyer.
14. Rescission.  Notwithstanding any other terms of these conditions, if within 14 days after the salethe Auctioneersreceive the Buyers notice in writing that in his view the Lot purchased is a forgery and within 21 days after such notification the Buyer returns the same to Lacy Scott and Knight, in the same condition as at the time of the sale and by producing evidence (the burden of truth to be upon the Buyer), satisfiesthe Auctioneersthat considered in the light of the entry of the catalogue the Lot is a deliberate forgery, then the sale of the Lot will be rescinded and the purchase price of the same refunded.  The Vendor agrees to be bound bythe Auctioneer's decision.