c) without notice to the buyer, to resell
the lot or cause it to be resold by public or private sale, any deficiency
in the purchase price attending such resale (after giving credit for any
payment and after deducting full costs incurred in
connection with the lot) to be made good by the
defaulting buyer, any surplus (after retention by Henry Adams of the
premium), to be paid to the seller. By the making of any bid the buyer
acknowledges his acceptance of these conditions in the catalogue.
Legal title shall not pass to the buyer of any lot(s) until the lot(s) have
been paid for in full, but each lot will immediately on the fall of the
hammer be and remain in every respect at the risk of the buyer. Henry
Adams shall be entitled to a lien on any lot sold until the purchase price
(as defined above) is paid in full by the buyer.
No transfers of ownership will be made.
Buyers are reminded that, in accordance with all sales conducted by
Henry Adams, a premium of 20% plus VAT is payable on the hammer price.
All bids shall be treated as offers made upon the following
Conditions of Sale.
The purchase price payable by the buyer shall be the aggregate of the final
bid and a premium of 20% of the final bid (together with any VAT chargeable
on the final bid and such premium). The final bid means the price at
which a lot is knocked down to the buyer. By the making of any bid the
buyer acknowledges that his attention has been drawn to the fact that on the
sale of any lot the Auctioneer will receive from the vendor a commission in
addition to the said premium of 20%.
Henry Adams Auctioneers act in all aspects as agents for the seller of each
lot.
The Auctioneers reserve the right to withdraw, consolidate, divide or alter
any lot or combine any two or more lots.
The bidding to be regulated at the discretion of the auctioneer, who
reserves the right to accept or reject any bid and, in the case upon which
the
seller has placed a reserve, the auctioneer shall have
the right to bid on behalf of the seller.
The buyer shall forthwith supply his name and address and, if so required by
Henry Adams, his bank and other suitable references. The buyer may
also be required to pay forthwith the whole or any part of the purchase
price, and if he fails to do so the lot or lots may at the auctioneer's
absolute discretion, be put up again and resold.
a) all lots must be paid for and taken
away at the buyer's expense not later than the time specified
b) No lot can be removed during the
auction, nor can any lot be taken away until the full purchase price and
premium has been paid.
If a buyer fails either to pay for, or take away, any lot in accordance with
the condition above, Henry Adams shall be entitled at their absolute
discretion to exercise one or more of the following rights
a) to store the lot or cause it to be
stored at their own premises or warehouses elsewhere at the sole expense and
risk of the buyer and to release the lot only after payment in full of the
purchase price, accrued storage and haulage charges and all other costs
incurred by Henry Adams in connection with the lot.
b) to charge to buyers, with accounts
remaining unpaid after 7 days, interest at a rate of 5% above the current
Bank base rate.
