THESE TERMS APPLY TO PLAKAS
If you, or another person acting on your behalf, provide goods to us
to sell on your behalf at one of our auctions this signifies that you
agree to and will comply with our Auction Terms and Conditions
including these Terms of Consignment for Sellers in Auctions or
Private Treaty Sales.
1. INTERPRETATION. In these Terms the words ‘you’, ‘yours’, etc.
refer to the Seller and if the consignment of goods to us is made by
an agent or otherwise on the Seller’s behalf we assume that the
Seller has authorised the consignment and that the consignor has
the Seller’s authority to contract. All obligations that apply to the
Seller under these Terms of Consignment for Sellers in Public
Auctions shall apply to the owner of the goods and their agent
jointly and separately. Similarly the words ‘we’, ‘us’, etc. refer to the
Auctioneers.
2. WARRANTY. The Seller warrants that possession in the lots can
be transferred to the Buyer with good and marketable title, free from
any third party right and encumbrances, claims or potential claims.
The Seller has provided all information concerning the item’s
ownership, condition and provenance, attribution, authenticity,
import or export history and of any concerns expressed by third
parties concerning the same.
3. ALL COMMISSIONS and fees are subject to VAT at the
prevailing rate.
4. COMMISSION is charged to sellers and all selling terms are
available from our salerooms.
5. REMOVAL COSTS. Items for sale must be consigned to the
saleroom by any stated deadline and at your expense. We may be
able to assist you with this process but any liability incurred to a
carrier for haulage charges is solely your responsibility.
6. LOSS AND DAMAGE OF GOODS
(a) Loss and Damage Warranty - Plakas is not authorised by the
FCA to provide insurance to its clients, and does not do so.
However Plakas for its own protection assumes liability for property
consigned to it at the lower pre-sale estimate until the hammer falls.
To justify accepting liability, Plakas makes a charge of 1.5% of the
hammer price plus VAT, subject to a minimum charge of £1.50, or if
unsold 1.5% of our lower estimate. The liability assumed by Plakas
shall be limited to the lower pre-sale estimate or the hammer price if
the lot is sold. Plakas is not liable for damage to gilded picture
frames, plaster picture frames or picture frame glass; if the Lot is or
becomes dangerous, we may dispose of it without notice to you in
advance in any manner we see fit and will be under no liability for
doing so.
(b) If the owner of the goods consigned instructs us in writing not to
take such action, the goods then remain entirely at the owner’s risk
unless and until the property in them passes to the Buyer or they
are collected by or on behalf of the owner, and clause 6 (a) is
inapplicable.
7. ILLUSTRATIONS AND PHOTOGRAPHS. The cost of any
illustrations or photographs is borne by you. The copyright in
respect of such illustrations and photographs shall be the property
of us, the auctioneers, as is the text of the catalogue.
8. MINIMUM BIDS AND OUR DISCRETION. Goods will normally
be offered subject to a reserve agreed between us before the sale
in accordance with clause 9. We may sell Lots below the reserve
provided we account to you for the same sale proceeds as you
would have received had the reserve been the hammer price. If you
specifically give us a “discretion” we may accept a bid of up to 10%
below the formal reserve.
9. RESERVES
(a) You are entitled to place prior to the auction a reserve on any lot
consigned, being the minimum hammer price at which that lot may
be sold. Reserves must be reasonable and we may decline to offer
goods which in our opinion would be subject to an unreasonably
high reserve (in which case goods carry the storage and loss and
damage warranty charges stipulated in these Terms of
Consignment).
(b) A reserve once set cannot be changed except with our consent.
(c) Where a reserve has been set which we consider unreasonably
high, an unsold charge will be payable in the event that the lots fails
to sell, being the agreed selling terms calculated on the reserve,
LDW at 1.5% and any photographic charges.
(d) Where a reserve has been placed only we may bid on your
behalf and only up to the reserve (if any) and you may in no
circumstances bid personally.
(e) Reserves are not usually accepted for lots expected to realise
below £100
10. ELECTRICAL ITEMS. These are subject to detailed statutory
safety controls. Where such items are accepted for sale you accept
responsibility for the cost of testing by external contractors. Goods
not certified as safe by an electrician (unless antiques) will not be
accepted for sale. They must be removed at your expense on your
being notified. We reserve the right to dispose of unsafe goods as
refuse, at your expense.
11. SOFT FURNISHINGS. The sale of soft furnishings is strictly
regulated by statute law in the interests of fire safety. Goods found
to infringe safety regulations will not be offered and must be
removed at your expense. We reserve the right to dispose of unsafe
goods as refuse, at your expense. The rights of disposal referred to
in clause 10 and 11 are subject to the provisions of The Torts
(Interference with Goods) Act 1977.
12. DESCRIPTION. Please assist us with accurate information as
to the provenance, lawful import etc. of goods where this is
relevant. There is strict liability for the accuracy of descriptions
under modern consumer legislation and in some circumstances
responsibility lies with sellers if inaccuracies occur. We will assume
that you have approved the catalogue description of your lots and
that your lots match those descriptions unless informed to the
contrary. Where we are obliged to return the price to the buyer
when the lot is a deliberate forgery under Condition 15 of the
Conditions of Sale and we have accounted to you for the proceeds
of sale you agree to reimburse us the sale proceeds and in any
event within 7 days of our written notice to do so.
13. UNSOLD. If an item is unsold it may at our discretion be re-
offered at a future sale. Where in our opinion an item is unsaleable
you must collect such items from the saleroom promptly on being
so informed. Otherwise, storage charges may be incurred. We
reserve the right to charge for storage in these circumstances at a
reasonable daily rate.
14. WITHDRAWN AND BOUGHT IN ITEMS. These are liable to
incur a charge of 15% commission, 1.5 % Loss and Damage
Warranty and any other costs incurred including but not limited to
illustration and restoration fees all of these charges being subject to
VAT on being bought in or withdrawn after being catalogued.
15. CONDITIONS OF SALE. You agree that all goods will be sold
on our Conditions of Sale for Auctions or Private Treaty Sale. In
particular you undertake that you have the right to sell the goods
either as owner or agent for the owner with good and marketable
title and free and clear of any third party rights or claims. You
undertake to compensate us and any buyer or third party for all
losses liabilities, costs and expenses suffered or incurred arising
out of or in connection with any breach of this undertaking. We will
also, at our discretion, and as far as practicable, confirm that an
item consigned for sale does not appear on the Art Loss register,
which is administered by an independent third party.
16. DUE DILIGENCE CHECKS AND ANTI-MONEY LAUNDERING
PROCEDURES
Under the money laundering regulations in force we are required to
carry out relevant due diligence checks. This includes verifying the
identity of all customers we transact with as well as any beneficial
owners on behalf of whom they may transact. Vendors who are
unable to or refuse to supply required identification documents and
proof of address will not be able to consign to Plakas. Copies of
customer due diligence checks will be stored for as long as it is
necessary to satisfy legal requirements in an appropriate storage
facility, which for the avoidance of doubt may include storage solely
in electronic form. We reserve the right to withhold the monies owed
until the vendor provides the information necessary to complete the
anti-money laundering checks.
17. AUTHORITY TO DEDUCT COMMISSION AND EXPENSES
AND RETAIN PREMIUM AND INTEREST
(a) You authorise us to deduct commission at the stated rate and all
expenses incurred for your account from the hammer price and
consent to our right to retain beneficially the premium paid by the
buyer in accordance with our Conditions of Sale for Auctions and
any interest earned on the sale proceeds until the date of
settlement.
(b) In case of lots unsold at auction you authorise us at our
discretion to reoffer such lots and negotiate a sale within seven
days of the auction date, in which case the same charges will be
payable as if such lots had been sold at auction and so far as
appropriate these Terms apply.
18. WAREHOUSING. We disclaim all liability for goods delivered to
our saleroom without sufficient sale instructions and reserve the
right to make minimum warehousing charge of £10 per lot per day.
Unsold lots are subject to the same charges if you do not remove
them within a reasonable time of notification. If not removed within
three weeks we reserve the right to sell them and defray charges
from any net proceeds of sale or at your expense to consign them
to the local authority for disposal.
19. SETTLEMENT. After sale settlement of the net sum due to you
normally takes place within 40 days of the sale unless the buyer
has not paid for the goods or the checks necessary under the
current Money Laundering Regulations have not been completed.
In this case no settlement will then be made but we will take your
instructions in the light of our Conditions of Sale for Auctions or
Private Treaty Sales. You authorise any sums owed by you to us on
other transactions to be deducted from the sale proceeds. You must
note the liability to reimburse the proceeds of sale to us as under
the circumstances provided for in Condition 12 above. You should
therefore bear this potential liability in mind before parting with the
proceeds of sale until the expiry of 40 days from the date of sale.