In these conditions the following meanings:
a. 'The Auctioneer' means the firm of Thomas Watson or directors or employee thereof at the time of sale.
b. 'The Buyer' shall have the meaning applied to it in Condition 4 and for the purpose of these Conditions all Buyers shall be deemed to be principals unless to the knowledge of the Auctioneer they are acting as agent on behalf of a named principal.
c. 'Forgery' means a lot (i) which is so constituted as deliberately to deceive when considered in the light of its catalogue description, and (ii) whose value as such is materially less than if it has complied with the catalogue descriptions.
2. Explanatory Introduction
The Auctioneer acts only as agent for the seller (unless otherwise specifically declared). The Auctioneer is not necessarily in a position to know the history of or assess the quality of lots sold on behalf of these principals. In addition, lots sold are likely to have been subject to wear and tear caused by use or the effects of age and may therefore have faults and imperfections. Buyers are given ample opportunity and viewing times to examine lots to be sold and will be assumed to have done so. They must rely solely on their own skill and judgement as to whether lots are fit for any particular purpose, and as to compliance with the catalogue description of illustrations.
All bids shall be treated as offers made upon these Conditions of Sale and all persons present are admitted to attend the sale on the basis that they have notice of these Conditions.
4. Ascertainment of Buyer
The buyer shall be the person making the highest bid which is acceptable to the Auctioneer as signified by the fall of the hammer. In the case of a dispute as to the highest bidding during or immediately after the sale of the lot, the Auctioneer may if he thinks fit put up the lot again for sale.
5. Auctioneers Discretion
The Auctioneer has sole discretion:
a. to refuse any bid
b. to advance the bidding as he may decide
c. to decide whether there has been a dispute as to the bidding and under condition 4 to resell
d. to withdraw or divide any lot or combine one lot with another or others, and
e. to exclude any person from the auction room or to refuse to accept his bid
6. Reserves and Seller's Right to Bid
Lots put up for sale are subject:
a. to any reserve price imposed by the Seller
b. the right of the Auctioneer to bid on behalf of the Seller
7. Buyers Duties
a. to register at reception before purchase of any lot
b. supply, if so required, bank or other suitable references c. pay the full purchase price on the day of the sale in a way acceptable to the Auctioneer, and
d. on proof of payment clear the lots purchased by him no later than the end of normal working hours during the day of sale, or within such extension of time as may specifically be agreed.
8. Liability of Auctioneer and Seller
Subject to Condition 10:
a. lots are sold with all faults and imperfections and neither the Seller nor the Auctioneer are responsible for any defects whatsoever
b. no warranty or representation is given or authorised to be given by the Seller or the Auctioneer with regard to any lot other than the Seller had the right to sell the lot in question
c. any express or implied conditions, warranties or representations whether relating to description, quality or fitness for purpose are hereby expressly excluded
d. the Auctioneers cannot make any guarantees as to the condition of electrical items and buyers are strongly advised to have them examined by a qualified electrical contractor before use, no refund is available if the item is faulty
9. Catalogue Description
The Auctioneer undertakes that care has been taken to see that catalogue descriptions are reasonably accurate and reliable but these are necessarily matters of opinion only and shall not be taken to be statements of facts. Subject to Condition 10, neither the seller nor the Auctioneer is responsible for the correctness of any description of any lot or its attribution in any manner to any particular originator.
Notwithstanding Conditions 8 and 9, if the Auctioneer receives notice from the Buyer within 14 days of the sale that in his opinion a lot is a forgery (as defined in Condition 1) and on giving such notification a lot is returned to the Auctioneer at his working premises in the same condition as when bought, then if on considering such evidence as the Buyer supplies to prove his assertion, the Auctioneer decides that the lot is a forgery the sale of the lot will be rescinded and the purchase price repaid to the Buyer.
11. Property in Lots at Risk
The Buyer Shall not become the owner of any lot, and the Auctioneer shall have a lien thereon, until the Buyer has discharged the purchase price in full, but after the fall of the hammer the risk of damage or loss to the lot in question shall nevertheless pass to and remain with the buyer.
12. Default by Buyer
If the Buyer fails to pay for or remove any lot bought by him or in any other material respect fails to comply with these Conditions, the Auctioneer shall have the right:
a. to resell the lot by public auction or otherwise without notice to the Buyer, and if any deficiency arises on such resale after deducting the Auctioneer's full cost and expenses, the Buyer shall be responsible to the Seller and Auctioneer but any net surplus to be the Seller's or, alternatively,
b. to store the lot at the Auctioneer's premises or elsewhere and to release the lot to the Buyer only after payment (in addition to the purchase price) in full of all reasonable storage and removal expenses incurred, together with interest on the outstanding amount.