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Auctioneer Terms and Conditions
Castle Auctions Terms and Conditions.
Castle Auctions Nicosia is a trading name of 'Margio Services Ltd', known by Cyprus company registration number HE335140.
CONDITIONS OF SALE:
Prospective buyers are advised that all Lots are sold as seen, without warranty or guarantee and they should therefore thoroughly check the condition of Lots before bidding.
Descriptions are an expression of opinion after research and careful consideration. The descriptions are not intended to be a guarantee of authenticity. The Auctioneers will not be responsible for the correctness of the description or measurement or weight or genuineness or authenticity of any article they believe to be correct but are made as an expression of opinion only and the lots are sold subject to all faults and errors in description. Neither The Auctioneers nor sellers make any warranty to buyers in respect of the lots and any implied conditions or warranties are excluded except in the case of the seller those implied in section 12 of the Sale of Goods Act 1893 as amended by the Supply of Goods (Implied Terms) Act 1973.
The Auctioneer neither has nor professes any expert or other knowledge of any Lot sold and each Lot is sold as seen with all faults and errors or mistakes of description and all written or oral representations as to description, quality or fitness are excluded. The buyer shall be deemed to have inspected the Lot he buys and if he buys without so doing he shall do so at his own risk.
GENERAL AUCTION CONDITIONS.
a) Buyers: 12% + VAT premium is added to the hammer price and charged on all items bought. 8% + VAT applies to Vehicles.
b) Sellers: 18% + VAT commission is deducted from the hammer price on all items sold, subject to a minimum fee of €3.50 +vat per item. 8% + VAT applies to Vehicle sales.
2. PAYMENT METHODS:
a) Buyers: Cash, Bank Transfer, VISA (subject to 2% handling fee), or PayPal (subject to 3% handling fee).
b) Sellers: Cash (up to €50) or Cheque / Bank Transfer for amounts over €50 on the Friday following the sale.
3. NO LOTS TO BE REMOVED FROM THE SALE ROOM UNTIL PAID IN FULL
4. Purchasers are responsible for removing lots by 5pm on Tuesday following the sale and providing adequate people and transportation for the collection of heavy goods.
5. ALL ITEMS ARE SOLD AS SEEN WITHOUT ANY WARRANTY GIVEN OR IMPLIED. LOTS WHICH WERE ONCE OPERATED BY MAINS ELECTRICITY ARE OFFERRED FOR SALE FOR DISPLAY OR HISTORICAL PURPOSES AND ARE BOUGHT ENTIRELY AT THE PURCHASER’S RISK. ANY LOT WITH AN ELECTRICAL FITTING MUST BE CHECKED BY A QUALIFIED ELECTRICIAN BEFORE CONNECTION TO THE MAINS SUPPLY. CASTLE AUCTIONS CANNOT ACCEPT RESPONSIBILITY FOR ANY CONVENTION OF THIS LOT. ELECTRICAL AND MECHANICAL ITEMS ARE NOT TESTED FOR ELECTRICAL SAFETY. FURNITURE MAY NOT BE FIRE RETARDENT.
6. Whilst we endeavour to ensure that our catalogue descriptions are correct, they should be treated as a guide. Purchasers must check that the lot they intend bidding for is as per the catalogue description and satisfy themselves of that BEFORE making a bid.
7. At the fall of the hammer the onus is on the purchaser to secure his or her own goods.
8. Items for inclusion in one of our auctions need to be delivered to the auction room or arranged for collection Monday onwards after the previous sale. To be certain there is room to include them in the sale, items should be booked in advance on 25391537 (Limassol) or 22482382 (Nicosia). Items will only be accepted if they are deemed by auction staff to be saleable. – ITEMS SHOULD NOT BE DELIVERED ON VIEWING DAYS
9. Every person on the premises or any other premises on which Castle Auctions may hold a Sale by Auction at any time shall be deemed to be there at his or her own risk without notice of the conditions of the premises and the method of arranging furniture etc. He or she shall have no claim against Castle Auctions in respect of any injury he or she may sustain or for any accident which may occur.
10. Castle Auctions disclaim all responsibility for damage or loss to goods or for any unauthorised removal of goods unless such damage or loss is caused by the negligence of their own employees.
11.Castle Auctions does not undertake to insure goods under delivery to or from its auction rooms nor while on the premises and advises owners and buyers to arrange appropriate insurance.
In the event of failure by the buyer to remove or pay for his or her purchase, Castle Auctions shall have the right, at their absolute discretion and without prejudice to any other rights and remedies they may have, to:
a. resell the lot by auction, private sale or any other means that they see fit, or,
b. remove and store the lot at the buyer's expense and at the buyer's risk and to release the same to the buyer only when the full purchase price plus commission and interest at 3% per annum above the Bank of Cyprus base rate in effect on the date of sale and the costs of removal and storage have been paid; and
c. effect a sale at any time after the lot has been removed and stored.
12. Where the buyer fails to remove or pay for his or her purchase(s) and Castle Auctions exercise their right to re-sell the lot, the sale price achieved on such resale shall be utilised first to meet all costs incurred by Castle Auctions in respect of the lot, second to pay Castle Auctions commission with the balance, if any, being paid to the seller.
13. DROIT de SUITE
(ARR) indicates works which may be subject to the Droit de Suite or Artist's Resale Right, which took effect in the UK on 14th February 2006. In accordance with legislation we are required to collect a Royalty for all qualifying works of art. This legislation was updated in January 2012 to include living artists and artists who have died in the last seventy years. This Royalty will be charged to the Buyer on the hammer price and in addition to the buyer's premium / commission rate. The Royalty rate only applies to works of art where the hammer price exceeds €1,000 (Euros). The rate is applied at 4% on works selling for €1,000 and up to €50,000. This means that if you purchase a lot which includes a work of art by a qualifying artist and it sells for over 1,000 Euros and below 50,000 Euros then you are required to pay the surcharge of 4% of the hammer price to The Design and Artists Copyright Society (DACS). Castle Auctions will detail this DACS payment on your invoice and the ARR will be paid across to DACS. A sliding scale applies to works of art selling for over 50,000 Euros. Royalties in their entirety are paid to the Design and Artists Copyright Society (DACS) and no handling fees or costs are retained by the Auctioneer. Resale Royalty payment is calculated on the rate of exchange at the European Central Bank on the date of the Sale. Royalties are not subject to VAT charges. If you have further queries then please visit www.dacs.org.uk
14. ONLINE / INTERNET BIDDING.
All our sales allow buyers the opportunity to bid from the comfort of their own home using our live internet bidding service. Please note that all lots purchased live online or using ‘autobids’ through www.castle-auctions.com and/or www.easyliveauction.com will be subject to an additional 3% commission charge plus VAT.
Following the sale all items must be collected within three working days, thereafter a DAILY storage charge of €1 for smaller items and €5 for furniture and larger items will be applied. Unfortunately storage space is limited and if goods are left on our premises for longer than 2 weeks, Castle Auctions will sell uncollected goods to defray any storage charges incurred.
We are open Monday, Tuesday, Thursday, Friday and Saturday from 10.00am to 5.00pm for collection.
13. IN THE EVENT OF A DISPUTE THE AUCTIONEER’S DECISION IS FINAL