TERMS AND CONDITIONS FOR SELLING AT AUCTION (All charges include VAT)
- Ownership: the seller must confirm that they are the sole owner of all lots or have authority from the owners that these items can be sold or that they are the executor or administrator of the estate from which the items may be sold.
- Charges: £12 per lot (sold or unsold) for Cataloguing, Lotting, Photography (unlimited shots) and Marketing fee (internet & newspapers) plus Commission 18% of the hammer price.
- Loss or damage of goods: Young's assumes liability for property consigned to it at the lower pre-sale estimate until the hammer falls. The cost to the vendor of insurance is 1.8% of the hammer price.
- Withdrawal fee: 30% of the lower estimate or reserve will be charged should you change your mind about selling the items, plus any agreed costs that have been incurred.
- Lots with an estimate of lower than £50 shall be sold without reserve, thus giving the Auctioneer the right to sell the item at their discretion to the highest bidder or at a price the auctioneer sees fit.
- Electrical goods and soft furnishings: items that fail to meet current safety regulations will not be accepted.
- Bids: the auctioneer has the right at his absolute discretion to refuse any bid and to advance any bidding as he may decide.
- Payment: the seller will be paid by bank transfer or cheque (within 28 days).
- Where the buyer has not paid: in the event of goods not being paid for 20 days after the sale the auctioneers may take steps necessary to recover the purchase price, (this could include debt collection, re-sale or legal action) dependent on the circumstances.
- Where an item is unsold: if the seller fails to provide new instructions or collect the item, the Auctioneers reserve the right to charge £6 per Lot to remove the item from the auction venue and sell or dispose of such items at the expense of the seller. It is the responsibility of the seller to contact the auctioneers with regard to any possible unsold items.
- Should 'Droit de suite' (Artist's Resale Rights) apply to a sale, a charge of 4% of the hammer price will apply where the hammer price is equal to or greater than Euros 1000 (or UK sterling equivalent as calculated on the day of the sale).
- Storage: Where the seller has agreed with the auctioneer to store items prior to the sale, that fee shall be charged to the agreed date of auction. Should the auction be rescheduled by Young’s Auctions the same fee shall apply. After the sale commensurate storage fees will be incurred if unsold lots are not collected by the Friday following the sale.
5th Dec 2015