Information for Buyers at Public Auction
The following notes are intended to assist bidders and buyers, particularly those inexperienced or new to our online auctions.All of our online auctions are governed by our Online Auction Terms and Conditions which include our Conditions of Sale (primarily applicable to buyers) and our consignment terms (primarily applicable to sellers). You are required to accept our Online Auction Terms and Conditions when registering as a registered user but you may be asked to confirm your acceptance before you can place a bid in an online auction. Any particular online auction and/or any particular lot in an online auction may be subject to different or additional terms which will be published in our online auction catalogue. All auctions and sales of wines and spirits, jewellery, watches and clocks are subject to the special terms set out in the relevant Notices in relation to those items published in our online auction catalogue and, in the event of any conflict or inconsistency, those special terms prevail over any other terms in our Online Auction Terms and Conditions.If there is anything you do not fully understand please contact us prior to the auction using the contact details in your registered user terms.
There will be an additional 5% + vat charge for web premium for bidding via the Invaluable platform
2. AGENCY
As auctioneers we usually act as agents for the seller whose identity, for reasons of confidentiality, is not normally disclosed. If you buy at auction your contract for the item or items purchased is with the seller and not with us as the auctioneer.3. ESTIMATES
Estimates are designed to help buyers gauge what sort of sum might be involved for the purchase of a particular lot. Estimates may change and should not be thought of as the sale price. The lower estimate may represent the reserve price and certainly will not be below it. Estimates do not include the buyer's premium or VAT (where chargeable). Estimates are prepared some time before the sale and may be altered on the listing for the lot published on our online auction catalogue before the sale. They are in no sense definitive.4. BUYER'S PREMIUM
The Conditions of Sale forming part of our Online Auction Terms and Conditions require the buyer to pay a buyer's premium on the hammer price of each lot purchased. The buyer's premium is 25% of the hammer price up to and including £500,000, 20% of the hammer price from £500,001 up to and including £1,000,000, and 12% of the hammer price in excess of £1,000,000. VAT at the prevailing rate of 20% is added to the buyer's premium and to any additional charges as described below.5. VAT
Items in our online auction catalogue may be marked in the following ways:(†) indicates that VAT is payable by the buyer at the standard rate (presently 20%) on the hammer price as well as being an element in the buyers' premium. This imposition of VAT is likely to be because the seller is registered for VAT within the European Union and is not operating the Dealers Margin Scheme or because VAT IS DUE AT 20% on import into the UK. ( ? ) indicates that the lot has been imported from outside the UK and the present position is that these lots are liable to a reduced rate of Import VAT currently 5% on the hammer price and buyer's premium (?) indicates that the lot has been imported from outside the UK and these lots are liable to the standard rate of Import VAT currently 20% on the hammer price.Lots which appear without the above symbols indicate that no VAT is payable on the hammer price; this is because such lots are sold using the Auctioneers Margin Scheme and it should be noted that the VAT included within the buyers' premium is not recoverable as input tax.6. DESCRIPTION AND CONDITION
Condition reports are provided on our website or upon request. The absence of a report does not imply that a lot is without imperfections. The detail in a report will reflect the estimated value of the lot. Large numbers of such requests received shortly before a sale may mean that reports cannot be provided for all lots. Members of staff are not trained restorers or conservators and, particularly for higher value lots, buyers should obtain an opinion from such a professional.Dreweatts is not liable for damage to gilded picture frames, plaster picture frames or picture frame glass. If a lot is or becomes dangerous, we may dispose of it without notice to bidders in advance in any manner we see fit and will be under no liability for doing so. We recommend that you always view a lot in person.We are dependent on information provided by the seller about a lot and whilst we may inspect lots and act reasonably in taking a general view about them we are normally unable to carry out a detailed examination, and frequently no examination, of lots in order to ascertain their condition in the way in which it would be wise for a buyer to do. Intending buyers have ample opportunity for inspection of goods and, therefore, accept responsibility for inspecting and investigating lots in which they may be interested and the corresponding risk should they not do so. Inspection of lots is strongly recommended.Please note carefully the exclusion of liability for the condition of lots contained in the Conditions of Sale. Neither the seller nor we, as the auctioneers, accept any responsibility for their condition. In particular, mechanical objects of any age are not guaranteed to be in working order.However, in so far as we have examined the goods and make a representation about their condition in our online auction catalogue, we shall be liable for any defect which is not reflected in that representation and which that examination ought to have revealed to the auctioneer but which would not have been revealed to the buyer had the buyer examined the goods.Additionally, in specified circumstances lots misdescribed because they are 'deliberate forgeries' may be returned and repayment made. There is a 3 week time limit. (The expression 'deliberate forgery' is defined in our Conditions of Sale).7. ELECTRICAL GOODS
These are sold as 'antiques' only and if bought for use must be checked over for compliance with safety regulations by a qualified electrician before you use them.8. EXPORT OF GOODS
Buyers intending to export goods should ascertain (a) whether an export licence is required and (b) whether there is any specific prohibition on importing goods of that character because they may contain prohibited materials such as ivory. Ask us if you need help.Following the UK's exit from the European Union, private overseas buyers can only receive goods free of VAT/have the VAT amount refunded if Dreweatts acts as exporter in relation to the sale and arranges for the transport of the goods. If you would like us to arrange for the export and delivery of the goods there will be an admin fee of £100 plus the shipping cost. If you arrange for the goods to be picked up/delivered to you directly we will charge UK VAT at the appropriate rate and no refund will be available. Please note that if we export the goods to you, you will be responsible for completing the importation procedures as well the payment of any relevant duty/VAT payable on importation into your country.9. BIDDING
Online bidders will be required to become a registered user on the website at www.dreweatts.com and to accept the registered user terms and the Online Auction Terms and Conditions before the sale commences. Identification proofs and other information satisfactory to us will be required if you are unknown to us. Please allow time to complete this process and please be aware that if you wish to bid on high value lots then we may need several days to carry out the necessary checks and to accept you as a registered user. Acceptance of an applicant as a registered user is in our absolute discretion. Lots will be invoiced to the registered user.10. COMMISSION BIDDING
Commission bids may be submitted in advance to the auctioneers, including by email, indicating the maximum amount to be bid excluding buyer's premium. They will be executed as cheaply as possible having regard to the reserve (if any) and competing bids. If two buyers submit identical commission bids the auctioneers may prefer the first bid received. Commission bids are at the risk of the bidder and we do not accept responsibility for and we are not liable for the electronic communication and placement of commission bids.11. METHODS OF PAYMENT
Payment will be accepted, if you are a successful bidder, by debit card issued in the name of the Buyer by a UK bank and registered to a UK billing address; by all major UK issued credit cards issued in the name of the Buyer and registered to a UK billing address with the exception of American Express and Diners Club; by bank transfer direct into our bank account, Bank Details: NatWest, 30 Market Place, Newbury, Berkshire RG14 5AG. Account Name: Dreweatts 1759 Ltd. A/C: 62412949, Sort Code: 60-15-07, BIC: NWBKGB2L, IBAN: GB21NWBK60150762412949. The name of the bank account holder should match the name of the buyer. First time buyers who are not present at the saleroom are requested to pay by bank transfer.12. COLLECTION AND STORAGE
Please note what the Conditions of Sale state about collection and storage. It is important that goods are paid for and collected promptly. Any delay may involve the buyer in paying storage charges.If you purchase a lot as a consumer from a seller who is a trader at a virtual auction (an auction which is held online only so that there is no possibility for you to attend the auction in person), you may have a legal right to cancel your purchase of that lot from the day of the virtual auction up to the day which is 14 days after the date on which you take possession of the lot. Further information is set out in the Conditions of Sale for Online Auctions.13. ? DROIT DE SUITE ROYALTY CHARGES
From 1st January 2012 all UK art market professionals (which includes but is not limited to; auctioneers, dealers, galleries, agents and other intermediaries) are required to collect a royalty payment for all works of art that have been produced by qualifying artists each time a work is re-sold during the artist's lifetime and for a period up to 70 years following the artists death. This payment is only calculated on qualifying works of art which are sold for a hammer price more than the UK sterling equivalent of EURO 1,000 - the UK sterling equivalent will fluctuate in line with prevailing exchange rates. It is entirely the responsibility of the buyer to acquaint himself with the precise EURO to UK Sterling exchange rate on the day of the sale in this regard, and the auctioneer accepts no responsibility whatsoever if the qualifying rate is different to the rate indicated. All items in this catalogue that are marked with ? are potentially qualifying items, and the royalty charge will be applied if the hammer price achieved is more than the UK sterling equivalent of EURO 1,000. The royalty charge will be added to all relevant buyers' invoices, and must be paid before items can be cleared. All royalty charges are passed on to the Design and Artists Copyright Society ('DACS'), no handling costs or additional fees with respect to these charges will be retained by the auctioneers. The royalty charge that will be applied to qualifying items which achieve a hammer price of more than the UK sterling equivalent of EURO 1,000, but less than the UK sterling equivalent of EURO 50,000 is 4%. For qualifying items that sell for more than the UK sterling equivalent of EURO 50,000 a sliding scale of royalty charges will apply - for a complete list of the royalty charges and threshold levels, please see www.dacs.org.uk. There is no VAT payable on this royalty charge.
Commission Charges
All purchases are subject to a buyer's premium, which is charged per lot at 25% of the hammer price (30% including VAT) up to and including £500,000, 20% (24% including VAT) of the hammer price from £500,001 up to and including £1,000,000 and 12% of the hammer price (14.4% including VAT) in excess of £1,000,000. A theta symbol indicates that the lot is a zero rated item and therefore not subject to VAT on the buyer's premium. This applies to bound books (manuscripts and printed), unframed maps and albums. In the event the lot has a dagger (†) beside the lot number in the catalogue, this indicates that the lot is owned by an entity or company required to pay VAT (generally not an Antique Dealer, as they operate under a dealers margin scheme). VAT is payable at 20% on the Hammer Price. Lots marked with a double dagger (presently a reduced rate of 5%) or ? (presently at standard rate of 20%) have been imported from outside the European Union to be sold at auction and therefore the buyer must pay the import VAT at the appropriate rate on the hammer price.
Payment
Once the auction has concluded, you will receive an invoice by email with a link to our online payment page as well as collection and shipping information. Where auctions finish late in the afternoon or evening, invoices will be sent out the next working day.
It is our policy not to accept third party payments. The name of the bank account or card holder should match the name of the buyer. Payment will be accepted by:
Bank transfer: Dreweatts' preferred method of payment is by bank transfer direct into our bank account. Payments must be made from the account of the registered Buyer.
Online via SagePay: clients can pay online up to a limit of £10,000 via SagePay by following this link https://www.dreweatts.com/payments. Lots paid for using SagePay will be available for collection the following day (not the same day).
Debit card issued in the name of the Buyer by a UK bank and registered to a UK billing address.
Credit card: all major UK issued credit cards registered to a UK billing address and issued in the name of the Buyer, with the exception of American Express and Diners Club. Credit cards registered to an overseas billing address up to a maximum of £5,000 with the exception of American Express and Diners Club.
In cash up to £8,000: subject to relevant money laundering regulations.
Please note:
We no longer accept payment by cheque.
We cannot accept payment by telephone for lots bought by first time bidders.
Payments for lots purchased by first time bidders must be paid for by bank transfer, in cash up to £8,000 (subject to relevant money laundering regulations), online via SagePay, or by debit or credit card with cardholder present.
CUSTOMER DUE DILIGENCE CHECKS:
In order to comply with current Money Laundering Regulations, it is our policy to conduct appropriate Know Your Client checks on any buyers who transact at the threshold of £8,000 or more. Buyers will be required to provide the following information:
For individuals, official photo identification (a government issued ID document such as passport or driver's licence) and a proof of address (utility bill, bank statement or driver's licence).
For legal entities, a certificate of incorporation (or equivalent), a register of shareholders/directors and ID documentation from the directors and beneficial owners of the business.
We reserve the right to withhold the purchased lots until such checks have been completed.
Shipping Terms
Before being able to collect your purchases, you are required to pay the hammer price, plus the applicable commissions, and obtain a receipt acknowledging payment. Collection of the purchased lots is at the purchaser's risk and expense and whilst Dreweatts do not provide packing and dispatch service we can suggest some carriers.
Dreweatts also require that all purchased items are collected within four working days of the sale to avoid a storage charge being applied.
Collections are available from Dreweatts Donnington Priory from Monday to Friday (9am - 5pm) but by appointment only and in strict accordance with government Covid-19 regulations. Collections are not possible at weekends.
Dreweatts
Donnington Priory
Oxford Road
Newbury
Berks RG14 2JE
You can collect in person or instruct your own shipper. Please note, we do not offer a shipping service ourselves.
To book a collection, please email:
[email protected] or call +44 (0) 1635 553 553.
Storage:
Due to a busy schedule of sales at Donnington Priory, we are unable to store sold items at the saleroom. All items not collected within 4 working days of the sale (by 4pm) will be automatically removed to commercial storage and subject to a storage charge of £20 (plus VAT) per lot and to a further storage charge of £2 (plus VAT) per lot per part or full day thereafter. Please note for large consignments there may be additional charges. These charges will be the sole liability of the purchaser and will be billed directly to them by Sackville-West Moving & Storing (Andover).
On payment of all sales and storage costs, items will be available for collection by appointment from Sackville-West Moving & Storing (Andover).
Shipping:
We do not offer a shipping service ourselves, but can provide details of companies that would be happy to give you a quote. Please note that lots will not be released until they are paid for in full, and the cost of shipping is payable direct to the company concerned. We will also need your prior authorisation before we release goods to any packer / shipper.
VAT liabilities for overseas buyers:
Following the UK's exit from the European Union, private overseas buyers can only receive goods free of VAT/have the VAT amount refunded if Dreweatts acts as exporter in relation to the sale and arranges for the transport of the goods. If you would like us to arrange for the export and delivery of the goods there will be an admin fee of £100 plus the shipping cost. If you arrange for the goods to be picked up/delivered to you directly we will charge UK VAT at the appropriate rate and no refund will be available. Please note that if we export the goods to you, you will be responsible for completing the importation procedures as well the payment of any relevant duty/VAT payable on importation into your country.
