Definitions involved. In these conditions “the Auctioneer(s)” means Lacy Scott and Knight or their representative.

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 against the Auctioneers in respect of any injury he may sustain or any accident to his person or to his property.

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 at the Auctioneer’s opinion of value prior to damage.

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 Auctioneers disclaim for themselves and on behalf of the Vendor all responsibility for authenticity, age, origin, condition or quality. All comments and statements made by the 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 Auctioneer has no authority to make any representation of fact. . The Sale of Goods Act 1979 as amended is not applicable.

Bidding.The Auctioneer has absolute discretion to divide any Lot to combine any two or more Lots, to withdraw any Lot, 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 at the Auctioneer’s discretion.

Fall of the Hammer. The highest bidder (subject to 5 above) shall be the Buyer. If, however, any dispute arises the Auctioneer has absolute discretion to settle the dispute or to re-offer the Lot. At the fall of the hammer, every Lot shall be at the risk of the Buyer who shall give to the Auctioneer his name address and if so required by the Auctioneer, his bank and other suitable references. The Buyer may also be required to pay the whole or any part of the purchase price as the Auctioneer may require in default of which the Auctioneer may re-offer and resell the Lot or Lots in question.

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 each Lot (this will be exclusive of VAT at the prevailing rate).

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 by the Auctioneer prior to the sale.

Bank. Our Bank: Lloyds Bank Plc, 28 Risbygate Street, Bury St Edmunds, Suffolk (Sort Code 30-91-49)

Payment. All payments must be made at the conclusion of the sale unless prior written arrangements have been made with the 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 in the Auctioneer’s possession until the cheque has been cleared.

Title. Legal title shall not pass to the Buyer of any Lot or Lots until they have been paid for in full, including premium and any additional charges that may have been incurred. However, each Lot will immediately on the fall of the hammer be and remain in every respect at the risk of the Buyer.

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 per Lot per day or part thereof, at the sole discretion of the 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.

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 Auctioneer reserves the right to refuse bids from a defaulting Buyer. The Auctioneers disclaim 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.

Rescission. Notwithstanding any other terms of these conditions, if within 14 days after the sale the Auctioneers receive 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), satisfies the Auctioneers that 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 by the Auctioneer’s decision.