These terms apply to Plakas Auctions
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 we assume that the Seller has authorised the consignment and that the consignor has the Seller’s authority to contract. Similarly the words ‘we’, ‘us’, etc. refer to the Auctioneers.
2. Commission and Entry Fee.
(a) Entry Fee: A charge of £12 VAT inclusive is made to each lot sold in addition to vendor’s commission. This charge covers our specialist research, catalogue description, website illustration, marketing on our website and other third party sites as well as live or timed bidding on various internet platforms.
(b) Vendors Commission: Is charged on each lot at 15%.
3. Catalogue Illustration Fee. The cost of any illustrations is borne by you. Lots may be illustrated in a catalogue and thus a charge of between £20-60 per illustration is applicable, dependent on size. For example a quarter page illustration £20, half page £40, three quarter/full page £60. The copyright in respect of such illustrations shall be the property of the auctioneers, as is the text of the catalogue; any persons to be found to have reproduced such illustrations or text without prior written approval will be deemed as being in breach of copyright law and appropriate legal action may be taken.
4. Loss and Damage of Goods
(a) Plakas Auctions is not authorised by the FSA to provide insurance to its clients, and does not so do. However Plakas Auctions, for its own protection, assumes liability for property consigned to it at the lower pre-sale estimate until title passes to the buyer. To justify accepting liability, Plakas Auctions makes a charge of 1.75% of the hammer price plus VAT. The liability assumed by Plakas Auctions shall be limited to the lower pre-sale estimate or to the reserve if the lot was unsold. Settlement in any claim arising shall be subject to commission as if the lot had sold in the normal manner.
(b) If the owner of 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 4(a) is inapplicable.
(c) Plakas Auctions will not be liable for the loss or damage to frames or glass covering prints, paintings or other works. Old frames are often fragile or subject to deterioration and whilst Plakas Auctions will do their upmost to ensure the safety and care of frames and glass we will not compensate for loss or damage to property caused by changes in humidity or temperature, normal wear and tear, gradual deterioration, inherent defect or errors in processing.
5. Removal Costs. Items for sale must be consigned to the sale room 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. Minimum Bids and our Discretion. Goods will normally be offered subject to a reserve agreed between us before the sale in accordance with clause 7. We may sell Lots below the reserve provided we account to you for the same sale proceeds that 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 approximately 15% below the low estimate and “wide discretion” allows to use accept a bid of up to approximately 30% below the low estimate.
(a) Prior to the auction you are entitled to place 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. If we are unable to offer goods they may be subject to storage charges if uncollected.
(b) A reserve once set cannot be changed except with our consent and confirmed by you in writing.
(c) 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.
8. 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.
9. 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 8 and 9 are subject to the provisions of The Torts (Interference with Goods) Act 1977, Schedule 1, a copy of which is available for inspection on request.
10. Descriptions. Please assist us with accurate information as to the provenance 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 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. The liability to reimburse the sale proceeds shall not arise where you are acting reasonably and honestly and are unaware of the forgery or where we are or ought to have been aware of it.
11. Unsold Items. Unsold lots will be automatically re-offered into the next appropriate live or online auction with the low estimate reduced by 40% and if the revised estimate is £200 or below it will be offered without reserve. Alternatively, we may contact you to request that you collect the items. If you do not wish to re-enter the lots please notify Plakas Auctions in writing with collection instructions. Please note storage charges will be incurred if lots are not collected within one week, storage charges will be applied of £5 + VAT per lot per day. If a lot remains uncollected two months after the date of the auction, Plakas Auctions shall have the right to sell the lot at auction without reserve and to deduct form the ‘hammer price’ any sum owing to Plakas Auctions as well as expenses arising from all auctions in which the lot has been included, plus storage and loss and damage warranty charges.
12. Withdrawn Items.
(a) If an item is withdrawn prior to the publication of the catalogue a minimum charge of £20 + VAT per lot is applicable. This fee covers administration, handling, storage and loss & damage of the lot whilst in our care.
(b) If an item is withdrawn after the online or offline publication of the lots they will incur charges where applicable comprising the sum of the vendor’s commission, the entry fee, the illustration cost, the loss and damage warranty, the buyer’s premium, the marketing fees and other expenses in relation to the item. VAT is applicable on all charges. These commission and premium charges will be calculated upon Plakas Auctions published mid estimate.
(c) In the cases of 12 (a) and (b) Plakas Auctions will store the withdrawn item for a period of five days with no charge, after this a storage charge will be applicable at a daily rate of £5 per item per day plus VAT for items that remain uncollected.
13. Conditions of Sale. You agree that all goods will be sold according to our Conditions of Sale. In particular, you undertake that you have the right to sell the goods either as owner or agent for the owner. You undertake to compensate us and any buyer or third party for all losses liabilities and expenses incurred in respect of and as a result of any breach of this undertaking.
14. Authority to Deduct Commission and Expenses and Retain Premium and Interest.
(a) You authorise us to deduct commission from the hammer price at the stated rate plus all applicable expenses incurred on your account and consent to our right to retain beneficially the premium paid by the buyer in accordance with our Conditions of Sale and any interest earned on the sale proceeds until the date of settlement.
(b) You authorise us at our discretion to negotiate a sale by private treaty not later than five working days from the date of the auction in the case of lots unsold at auction, 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.
15. Warehousing. We disclaim all liability for goods delivered to our saleroom without sufficient written sale instructions, client contact details or without our prior written agreement to take delivery and reserve the right to either refuse to receive such goods or to make a minimum warehousing charge of £5 per item 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 twenty one days 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.
16. Settlement. Settlement of the net sum due to you normally takes place 28 days after the sale (by crossed cheque or bank transfer to the seller) unless the buyer has not paid for the goods. In this case no settlement will then be made but we will take your instructions in the light of our Conditions of Sale. 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 10 above. You should therefore bear this potential liability in mind before parting with the proceeds of sale until the expiry of 28 days from the date of sale.