The following defined terms are used in our conditions of business:
“Auction” refers to auctions conducted by Flint’s Auctioneeers Limited
“Auctioneer” refers to an auctioneers authorised by Flint’s Auctioneeers Limited (henceforth referred to as Flint’s)
“Bidder” means a bidder at an Auction, including those bidding commissions left with the auctioneer, by telephone or via internet.
“Buyer” means the bidder whose bid was the final bid accepted by the auctioneer the Auctioneer (when he/she brings down the hammer)
“Consignment/s” means the items consigned by the Vendor to Flint’s for sale by auction Auction.
“Flint’s” means Flint’s Auctioneers Limited Ltd.
“Hammer Price” means the bid reached (at or above any reserve) when the Auctioneer brings down the hammer.
“Lot” means any consigned property accepted by Flint’s for sale by Auction.
“Vendor” means the vendor of an item which is submitted to Fel for offer for sale at an Auction.
Flint’s act as agent of the Vendor only. Any contract for the sale of a Lot will be formed between the Vendor and the Buyer.
The Vendor confirms he/she can transfer good title, free of any encumbrance or third party claims, to all items consigned for auction. The vendor must reveal all relevant information that he/she possesses about items for auction including any repairs or alterations that may have been carried out. The Vendor shall indemnify Flint’s and the Buyer against any loss and expense caused by any breach
Instructions for Sale and Reserves
Flint’s reserve the right not to accept items which they deem to be unsuitable for auction All items consigned to Flint’s Auctions Ltd are deemed to be for sale by auction. Reserve prices will normally be recorded on the consignment form. Otherwise all reserve prices will be at the discretion of the auctioneer unless written instructions to the contrary are received 7 days prior to the auction. In no case may a reserve exceed the lower estimate for any lot. Where a reserve has been placed, the auctioneer may bid on behalf of the vendor.
Commission on Sales
Commission shall be charged at the agreed rate for sale entries, as a percentage of the hammer price. The Vendor authorises the Auctioneers to deduct all commission payable from the hammer price and acknowledges the Auctioneers right to retain the premium payable by the Bidder.
The vendor authorises Flint’s Auctions Ltd to deduct all monies due to them from the auction proceeds. Flint’s shall not be liable for settlement of any lots where funds have not been cleared to the company.
Items consigned shall, prior to the sale, be insured against the usual risks, to a value of the auctioneer’s mid-estimate or the reserve (the highest of the two).
The Auctioneers act throughout as agents only and are not responsible for any default by either the Vendor or the Bidder.
Flint’s Auctions shall not be liable if a purchaser fails to pay for any lot remaining in the auctioneer’s possession.
Unsold lots will be offered without reserve at subsequent auctions, unless Flint’s agree an alternative. If a lot is unsold at auction, the Vendor authorises Flint’s to negotiate a sale by private treaty. In this case the same charges will be payable as if the Lot had been sold at Auction.
If any lot/s are entered for sale and subsequently withdrawn prior to the sale date, Flint’s reserve the right to make a charge equal to the vendor’s commission based on Flint’s mid-estimate valuation.
If the authenticity of a lot is challenged by a purchaser, and Flint’s Auctions, on review of evidence, see the challenge as justified, the sale may be rescinded.
Any dispute arising from these Terms and Conditions shall be governed by English law and any dispute or action that may arise shall be dealt with in an English Court.