IMPORTANT INFORMATION FOR BIDDERS & BUYERS
1. Conditions of Business
All lots are offered subject to Graham Budd Auctions Ltd Conditions of Business which can be viewed in full at our website www.grahambuddauctions.co.uk
2. The Auction
The auction is being conduct as a live stream broadcast.
3. Conduct of the Auction
The auctioneer will commence the bidding and advance the bidding in such increments as he considers appropriate. The contract between the buyer and the seller is concluded on the striking of the auctioneer's hammer. The auctioneer shall have discretion to refuse bids, withdraw or re-offer for lots for sale (including after the fall of the hammer) if he believes that there may have been an error or dispute, and may also take such other action as he reasonably deems necessary. Title in a lot will not pass to the buyer until Graham Budd Auctions has received the purchase price in cleared funds. Remedies for non-payment are stated in our Conditions of Business which can be viewed in full at our website www.grahambuddauctions.co.uk
4. Pre-Sale Viewing
We are offering pre-sale viewing of lots at our Wellingborough premises.
This is strictly by a pre-arranged timed appointment to be requested by email.
The last opportunity to view lots at our premises is Thursday 30th of November.
5. Condition Reports
Any requests for condition reports or additional photographs must be received by email by Thursday 30th of November.
It is recommended that prospective Bidders inspect the lots on which they intend to bid, we accept bids from potential Buyers on the basis that Buyers (or their advisors) have fully accepted the lot prior to bidding and have satisfied themselves prior to bidding in relation to the condition and accuracy of the description of the lot.
6. Overseas Bidders
Are responsible for all import duties, customs charges, and VAT payable in the destination country. Customs declarations will be based on the final hammer price of winning bids without exception.
We are currently seeing unprecedented delays in customs clearance times around the world, it is not uncommon for this to take several weeks, and unfortunately we cannot do anything to expedite the process or be held responsible for any delays.
7. Collections and Shipping Logistics
On receipt of cleared funds, lots can be collected from our storage facility in Wellingborough. Please contact the auctioneer for the full details and to make a timed appointment.
Alternatively, we can organise packing for postage and shipment on a worldwide basis. Please contact us for a quote.
On occasions due to high value, complicated customs arrangements or for the need of highly specialised packing, we will recommend a third-party professional packer and shipper.
All glass will be removed from framed and glazed items prior to posting and may result in delays to shipping your items. (This service is included in the cost of postage and packing). We can also totally remove all framing and mounts upon request to reduce shipping costs.
Alternatively, lots can be collected in person by prior appointment from NN8 1RT.
Overseas Bidders are responsible for all import duties, customs charges and VAT payable in the destination country.
Customs declarations will be based on the final hammer price of winning bids without exception.
We are currently seeing unprecedented delays in customs clearance times around the world, it is not uncommon for this to take several weeks and unfortunately we cannot do anything to expedite the process or be held responsible for any delays.
All bidders are be required to register in the auction Online before the auction commences in order to place a absentee bid or book a telephone line on any lot with the Auction House or bid on the Online Platforms.
A form of government-issued proof of identification (photograhpic identification with proof of current address) will be required at the time of registration, for all Absentee, Telephone and Online Bidding.
Room bidding is now available, bidders are welcome to contact the auction house to pre-reserve a seat, either by telephone or via email by Thursday 30th of November, after which a confirmation email will be sent confirming seat reservation.
Due to limited space we can not accommodate unreserved room bidders on the day of the auctions.
Lots will only be invoiced to the name and address on the bid registration form and cannot be transferred to another name and address. We can only accept payment for the lot from the registered Bidder.
9. Absentee Commission Bidding
If you are unable or do not wish to bid live online on the auction day, we accept absentee commission bids, these need to be emailed to the auctioneer by Thursday 30th of November prior to the auction and are only accepted via email.
You will be required to declare your maximum limit, but the auctioneer will try and achieve the most inexpensive price for you subject always to the reserve price and competition from other bidders.
Alternatively absentee bids can be left in your account on the Graham Budd Live and Saleroom bidding platforms.
10. Telephone Bidding
As an alternative, there will be a telephone bidding service for the auction. Please email the auctioneer to reserve a telephone line by Thursday 30th of November prior to the auction.
11. Buyer’s Premium and VAT
The final selling bid at auction is known as the ‘hammer price'.
For bidders who have registered for the sale directly at Graham Budd Auctions, including for Live Internet Bidding, a buyer’s premium of 24% of the hammer price will be charged.
Bidders who registered directly at the-saleroom.com will be charged a 4.95% Internet bidders’ surcharge.
Both the buyer’s premium and the internet surcharge are subject to VAT at the current rate of 20%.
An example for a lot purchased at £100 hammer for buyers who registered directly at Graham Budd Auctions, including for Live internet bidding, would be as follows:
£24.00 Buyer’s Premium
£4.80 VAT (20% of £24.00)
TOTAL INVOICE: £128.80
An example for a lot purchased at £100 hammer for buyers who registered directly at the-saleroom.com would be as follows:
£24.00 Buyer’s Premium
£4.95 Internet Surcharge
£5.79 VAT (20% of £28.95)
TOTAL INVOICE: £134.74
12. VAT in respect of non-UK buyers
Buyers from outside of the UK, including EU countries, are not required to pay VAT on their purchases on condition that the goods are being shipped overseas and will not remain in the United Kingdom. Under these circumstances buyers will receive an export invoice which will not contain any VAT element.
An example for a lot purchased at £100 hammer for buyers who registered directly at Graham Budd Auctions would be as follows:
£24.00 Buyer’s Premium
TOTAL INVOICE: £124.00
An example for a lot purchased at £100 hammer to a non-UK buyer who registered directly at thesaleroom.com would be as follows:
£24.00 Buyer’s Premium
£4.95 Internet Surcharge
TOTAL INVOICE: £128.95
Every lot in the auction has a published low and high estimate. Estimates are published as a guide only. The final hammer price of a lot may be higher of lower than the range of figures given and there are no predetermined starting bids. The published estimates are exclusive of buyer’s premium. Every lot in the auction is subject to a reserve price which is a confidential agreement between the seller and the auctioneer. The reserve price is never set higher than the published low estimate but can be set below it.
14. Artist’s Resale Rights / Droit de Suite
This is a royalty payable to a qualifying artist or the artist’s heirs each time a work is resold during the artist’s lifetime and up to a period of 70 years after the artist’s death.
This will be in addition to the Hammer Price, lots may qualify for and be subject to payment by the Buyer of the Artist’s Resale Right at a percentage of the Hammer Price calculated as follows:
From €1,000 to €50,000 – 4%
From €50,001 to €200,000 – 3%
From €200,001 to €350,000 – 1%
From €350,001 to €500,000 – 0.5%
Exceeding €500,001 – 0.25%
Up to a maximum levy of €10,000 on any single lot.
Any Artist’s Resale Right royalties will be calculated on the pound sterling/ Euro exchange rate quoted on the date of the auction by the European Central Bank.
The auction is held in the UK and will be conducted in British Pounds Sterling.
Payment is due in sterling and before any property can be released. After the auction concludes successful buyers will be invoiced by email.
If you have successfully bid online, you would have registered your debit/credit card details. We will not charge your card automatically as you may prefer to use a different method of payment (see below).
If you wish to pay by the registered card please authorise us to charge the card for the auction and email us notification. If we have not been contacted after seven days the registered card will automatically be charged.
For all other payments please state your Buyer Number or Invoice Number as the payment reference.
Graham Budd Auctions accept the following methods of payment:
ELECTRONIC TRANSFERS AND INTERNET BANKING
Barclays Bank PLC, 212 Regent Street, London, W1A 4BP
Sort Code: 20-71-74
Account Name: Graham Budd Auctions Ltd
FOR OVERSEAS BUYERS
IBAN number: GB64BARC20717460420255
*** Important Online Fraud Notice *** Graham Budd Auctions will never instruct you to send money other than to the bank details above. If you receive any communication in respect of payment that you consider suspicious always contact the auctioneer by telephone (not email) for authentication.
If you are a registered account holder at www.grahambuddauctions.co.uk you can pay safely and securely online and free with a Visa or MasterCard. Please quote the ‘Buyer Number’ printed on your invoice as the reference.
CREDIT or DEBIT CARD
At auction registration at the-saleroom.com you will have registered a credit or debit card. Although you have authorised us to use this card we will not do so automatically. However, if you do wish to pay on the registered card, please instruct the auctioneer accordingly. Alternatively, you may wish to use a different card to the one registered. Card payments can be made directly with the auctioneer by telephone with Visa and MasterCard.
*** Important Online Fraud Notice *** To avoid possible compromise, never email your card details to the auctioneer.
Please note we no longer accept cash, cheques or bankers drafts as a method of payment.
17. Data Protection
GBA will use information supplied by bidders or otherwise obtained lawfully by GBA for the provision of auction related services, client administration, marketing and as otherwise required by law. By agreeing to these Conditions of Business, the bidder agrees to the processing of their personal information and to the disclosure of such information to third parties world-wide for the purposes outlined in the above service provisions, and to the seller solely in the event on non-payment.
All images of lots, catalogue descriptions and all other materials produced by GBA are the copyright of GBA.
Graham Budd Auctions’ Conditions of Business shall be interpreted in accordance with English Law, under the exclusive jurisdiction of the English Courts, in favour of GBA.