Buyers – Sale Terms & Conditions
1. Buyer’s premium of 23% on the hammer price plus VAT at 20% is payable on all lots.
2. Payment of all bought lots must be made within 7 days following the sale. Hannam’s Auctioneers Ltd reserves the right to cancel any sale after this period, or where he deems it to be in the Sellers best interests, at the Auctioneers discretion.
3. Hannam’s Auctioneers Ltd will not release goods to any buyer in the saleroom, until cheques have been cleared. A period of five working days will be needed to clear the cheques, and a period of 2 days for bank transfers.
4. Lots may be cleared during sale days; however a paid invoice must be produced to a member of staff, payments can be made to cashiers in the Accounts Department.
5. Lots may only be cleared after the sale has concluded, Full ownership of a lot purchased shall not pass to the buyer until full payment has been made to the Auctioneer of ‘the total amount due’.
6. Free storage of all lots will be provided for five working days following the sale, after this time has elapsed, a storage charge of ?5.00 plus VAT per lot per day will be levied, and must be paid upon collection of the items, in the event these fees are unpaid, the items will be resold in a future auction to recoup storage fees. We can provide uninsured in-house shipping for certain lots; a quote can be requested from us and our shipping team will establish if the lot is within our capabilities. If a lot is deemed to be outside of our capabilities, we will refer you to a specialist shipping company who will assist you. It is the buyer’s sole responsibility to check the legal restrictions and prohibited list for the country in which they reside. Shipping restrictions of items should be checked before bidding takes place, Hannam’s Auctioneers Ltd will not be held liable and refunds will not be issued should shipping be considered “too expensive”, restricted or prohibited.
7. Bidding (a) Paddles: Any perspective buyers are asked to complete a paddle registration card prior to the auction, a full address and form of identification will be requested at this time. When a buyer is successful, he/she will hold the paddle aloft and the auctioneer will record the paddle number as the buyer of the lot. (b) For customers unable to attend the auction they may leave an Absentee bid with the auctioneer, also known as a Commission or Written bid. We are happy to execute these bids on your behalf and will purchase the lot as cheaply as possible, other bids and reserves permitting. Forms are available in the saleroom during the viewing period. Once completed can be returned to the auctioneer’s office. Absentee and telephone bids are offered as a free service and at the buyer's risk, we cannot accept liability for any failure to place such bids. Lots will be purchased by the auctioneers on behalf of the commission bidders as cheaply as is allowed by other bids and/or reserves if any. Buy bids are not permitted by the auctioneer. The auctioneers cannot accept responsibility for any neglect or default in executing or failing to execute commission bids. (c) The auctioneers reserve the right to re-offer any lot in the case of a dispute, The auctioneers reserve the right to cancel a sale if we believe a buyer to be fraudulent, Whereby it is determined a buyer cannot make payment in full for an invoice, the auctioneers reserve the right to re-offer the lot within 28 days to an under bidder. If an agreed deposit deadline has not been met the auctioneers reserve the right to cancel a sale within 7 days. The bidding increments will be at the sole discretion of the auctioneer.
8. Whilst we seek to describe lots accurately, it may be impractical for us to carry out exhaustive due diligence on each lot. Prospective buyers are given ample opportunities to view and inspect before any sale and they (and any independent experts on their behalf) must satisfy themselves as to the accuracy of any description applied to a lot. Prospective buyers also bid on the understanding that, inevitably, representations or statements by us as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price involve matters of opinion. We undertake that any such opinion shall be honestly and reasonably held. .Subject to the foregoing neither we the auctioneer nor our employees or agents nor the seller accept liability for the correctness of such opinions and all conditions and warranties, whether relating to description, condition or quality of lots, express, implied or statutory, are hereby excluded. a) Chinese, Japanese & Oriental Works of Art catalogued without specific confirmation of age & authenticity, are sold as replica’s or decorative items only and not as authentic antiques, irrespective of any subsequent markings on the item in question, for example ‘A Chinese Porcelain Bowl bearing Kangxi marks to base’. b) Any lots catalogued as yellow metal, prospective buyers are aware we have not carried out any form of testing on the items and are sold as such as replica's or decorative items only, with no intrinsic precious metal value.
9. Liability of Auctioneers and Sellers Goods sold are not new and all goods are sold with all faults and imperfections and errors of description. Illustrations in the catalogue are for identification only. (a) Buyers should prior to the sale satisfy themselves as to the condition of each lot and whether or not in their own judgment the lot accords with the description. (b) Neither the Auctioneers the seller or their servants are responsible for cataloguing errors or for the authenticity of any lot and (c) The Auctioneers the seller or their servants and agents give no warranty whatsoever other than hereinafter contained to any buyer in respect of any lot and any express or implied conditions or warranties are hereby excluded. For UK based and International buyers, any disputes over an item are to be made known to the saleroom within 28 days of purchase, we offer a no return policy under any circumstances after this time period. (d) Any lot which proves to be a deliberate forgery may be returned to the Auctioneer within 28 days of the relevant auction provided that it is in the same condition as when bought. If the Auctioneer is satisfied from the evidence presented by you that the lot is a deliberate forgery, the Auctioneer shall refund the price paid by you for the lot including any buyer’s premium. The Auctioneer shall not have any liability for any consequential loss suffered by you (whether as buyer or seller or otherwise) as a result of the lot being a deliberate forgery.
Where a member of the public causes damage to a Lot (or part thereof) the Auctioneer reserves the right to sell the aforementioned without reserve and to hold that specific individual liable for the amount of any difference between the hammer price and the reserve or lower estimate whichever might be higher or
?a) For the cost of the restoration where appropriate or
?b) The full amount of the reserve price or the lower estimate whichever be the higher
Note: Hannam’s Auctioneers Ltd reserves the right to alter these Terms and Conditions without notification to clients.
Sellers – Sale Terms and Conditions
Sellers Commission: 15% of the hammer price, plus VAT,
1. ?5 plus VAT lotting fee on each sold item, and 1.5% plus VAT insurance charge.
2. (a) Title: The Seller of any Lot warrants to the Auctioneer and Buyer that the Seller is the true owner of the property, or is legally authorized to sell the property by its true owner, and is able to give good title to the property, with no third party able to lay claim, and that the Seller will indemnify the Auctioneer and Buyer from any loss or damage suffered by either as a result of any breach of the terms of this clause by the Seller.(b) The Seller will confirm with Hannam’s Auctioneers Ltd, prior to the auction of any alteration to the Lot of which the Seller is, or should made aware, or of suggestions made to the Seller by a third party that relate to condition, ownership or attribution of the Lot.
3. Reserves are subject to 10% discretion unless advised by the vendor. Once fixed, reserves must be altered 24 hours before the auction is due to take place with permission of the Auctioneers. Where a reserve has been placed, only the Auctioneer may bid on behalf of the Seller. The Auctioneer reserves the right to sell at a hammer price below the reserve, but in such case the sale proceeds to the Seller shall be the same as if the lot had sold at reserve. If instructed to sell without reserve, the lot shall be sold to the highest bidder on the day of the auction.
4. Insurance: The Auctioneers will insure lots at the lower end of their pre-sale estimate or initial agreed reserve, whichever is the greater value, if the items have not been sold. Hannam’s Auctioneers Ltd will not be responsible for loss or damage to the exterior features of Paintings (frames or glass), Prints or Watercolours, or for loss or damage to any property caused by temperature change, handing errors or humidity changes.
5. The Auctioneers reserve the right to cancel any sale at any time, should they deem it necessary, this will be at Hannam’s Auctioneers Ltd discretion.
6. Unsold Lots: The Auctioneer will notify the Seller of any unsold items within 7 days of the sale. The Seller can either re-offer the lot(s) with a 50% reduction on the originally agreed reserve, or collect the lot(s) within 14 days. If the auctioneers have not received instructions within 10 days either by phone or email, the lot(s) will be re-offered without reserve and sold to the highest bidder. Where a request has been made for a seller to remove goods from the saleroom, and they are not removed within 21 days of such a request, the aforementioned conditions will apply.
7. Withdrawn Lots: If the Seller withdraws a lot from auction, the Seller will pay Hannam’s Auctioneers Ltd a withdrawal fee of 50% of the agreed reserve or lower end of estimate, The Seller must notify the Auctioneers in writing of their intention to withdraw a Lot and items cannot be withdrawn within 72 hours of the auction taking place, this fee will be used to cover such handling charges, printing or photography costs.
8. Illustration: All lots will be illustrated online for no fee, however a ?10 fee may be initiated if an image is printed in the Auction catalogue. The Auctioneers reserve the right to reproduce photographs of Lots for any purpose, including future post sale advertising.
9. Liability of Auctioneers and Sellers Goods sold are not new and all goods are sold with all faults and imperfections and errors of description. Illustrations in the catalogue are for identification only. (a) Buyers should prior to the sale satisfy themselves as to the condition of each lot and whether or not in their own judgment the lot accords with the description. (b) Neither the Auctioneers the seller or their servants are responsible for cataloguing errors or for the authenticity of any lot and (c) The Auctioneers the seller or their servants and agents give no warranty whatsoever other than hereinafter contained to any buyer in respect of any lot and any express or implied conditions or warranties are hereby excluded. For UK based and International buyers, any disputes over an item are to be made known to the saleroom within 28 days of purchase, we offer a no return policy under any circumstances after this time period. (d) Any lot which proves to be a deliberate forgery may be returned to the Auctioneer within 28 days of the relevant auction provided that it is in the same condition as when bought. If the Auctioneer is satisfied from the evidence presented by you that the lot is a deliberate forgery, the Auctioneer shall refund the price paid by you for the lot including any buyer’s premium. The Auctioneer shall not have any liability for any consequential loss suffered by you (whether as buyer or seller or otherwise) as a result of the lot being a deliberate forgery.
10. Sale Proceeds will be released 30 days after the auction, except where payment has not been received by the Auctioneers and it is held in their opinion to be in the Sellers’ best interests to extend the period for the Buyer to make payment in full. In such cases, Hannam’s Auctioneers Ltd will remit the sale proceeds within 21 days of the day on which the total amount due is received from the Buyer. Hannam’s Auctioneers Ltd reserves the right to retain any interest on accruing monies being held pending settlement to Sellers. A charge will be made to Sellers for payments other than in sterling.
11. The Seller authorizes Hannam’s Auctioneers Ltd to deduct agreed commission at the stated rates or agreed rates outside of standard charges, and any expenses, from the hammer price, and acknowledges the Auctioneers’ right to retain the Buyer’s Premium in accordance with the Buyers Conditions.
12. Hannam’s Auctioneers Ltd must be notified in writing of any change of address of the Seller. Where a seller is ‘unknown’ at their stated address, and correspondence is returned to the Auctioneers offices, Hannam’s Auctioneers Ltd reserve the right to offer their goods for sale without reserve to be sold to the highest bidder, after a period of 28 days from the initial posting. Any monies realised will be held by Hannam’s Auctioneers Ltd until claimed by the Seller. All other terms and conditions will be held to apply.
13. Hannam’s Auctioneers Ltd sell as agents and as such are not responsible for any default by the Buyer.
14. Estimates: Hannam’s Auctioneers Ltd makes no warranty as to the anticipated selling price of property. Estimates are offered only as a guide and not a statement of fact.
Hannam’s Auctioneers Ltd reserves the right to alter these Terms and Conditions without notification to clients.
