Conditions of Business - For Buyers

THE VENDOR, John Ross & Company, hereinafter known as Ross’s, respectfully draw to the attention of buyers, the company conducts business as set out below.

Ross’s shall have absolute discretion as to the following:

1. John Ross & Co (Ross’s) act in every respect only as agents for the seller of each lot.
2. All bids shall be treated as offers made upon the conditions of sale.
3. The highest approved bidder shall be the Purchaser, and if any dispute arises as to a bid, the lot in dispute may be put up again at the last undisputed bid and any dispute whatever in respect of the property or the sale and delivery of the goods shall be determined by the auctioneer, or in his absence by the Clerk of the sale.
4a. The bidding shall be regulated by the auctioneer as the sale proceeds, and no bidding shall be retracted.
4b. The auctioneer has the right to refuse any bid at his absolute discretion.
5. The auctioneer shall be at liberty to group together any lots, or to divide any lots during the progress of the sale, and in the case of lots upon which there is a reserve, the auctioneer, or his clerk, or the vendor, or the vendor’s agent shall have the right to bid on behalf of the vendor, or to withdraw the goods from sale.
6a. Every purchaser on being declared as such by the auctioneer, shall if required hand in his name and full address and if requested his bank or other suitable references.
6b. The purchaser shall pay such deposit or sum as may be required from him, the remainder of the purchase money to be paid in cash or by
banker’s draft at the close of the sale.
6c. The purchase price payable by the purchaser shall be the aggregate of the price at which the lot is knocked down and a premium of 15% of the final bid together with Value Added Tax of 17.5% on the premium.
6d. Artists Resale Right. Purchase of lots marked with the symbol only will be subject to payment of a levy. Royalties on this category will be
calculated at 4% of the hammer price.
7a. All statements in the catalogue or advertisements are statements of opinion and are not to be relied upon as statements of fact. Descriptions or illustrations in the catalogue or advertisements are solely for guidance and are not to be relied upon for accuracy. Intending
purchasers must satisfy themselves by inspection or otherwise as to the condition or authenticity of any lot. Furthermore, intending purchasers
must satisfy themselves as to whether or not any lot has been repaired or restored.
7b. The auctioneers are not responsible for the correctness of any statement as to origin, date, age, attribution, genuiness or provenance of any lot.
7c. The auctioneers are not responsible for any defects in any lot.
7d. Neither the seller nor Ross’s nor any person in the employment of the auctioneers has the authority to give any warranty regarding any lot.
8a. All lots to be paid for and removed from the premises at the buyers expense immediately after close of sale. The auctioneers reserve the
right to refuse cheques.
8b. No removal of any lot or lots will be allowed during the hours of selling, nor under any circumstances until paid for. All goods must be removed between the hours of 9.00 am and 5.00 pm.
8c. No goods will be delivered without an order from the auctioneer, and no order will be given until the whole account of the purchaser has been paid.
9. On failure of a purchaser to pay for or remove any lot in compliance with the above conditions, the auctioneers at their absolute discretion and without prejudice may resort to the following rights:
9i. Without notice to the purchaser to resell the lot either by public auction or private sale. Any loss attending such resale to either the auctioneer of the seller to be made good by the defaulting purchaser. Any gain to be credited to the seller.
9ii. To store the lot at the sole expense of the purchaser and to release the lot only on full payment of the purchase money along with the premium and Value Added Tax thereon and the cost of storage and any other cost incurred.
9iii. To charge at 3% above the prevailing Bank of England base rate on the entire amount outstanding, the interest accruing from the date
payment is due.
10. Any lot shall be entirely at the risk of the purchaser from the fall of the hammer.
11. If any damage be done to the premises by taking down or removing any lot or to the property of a third party, such damage shall be made good at the expense of the person or persons committing such
damage or his or their employers.
12. The auctioneers to be the sole judges in any dispute that may arise during the sale.

Conditions of Business - For Vendors

THE VENDOR, John Ross & Company, hereinafter known as Ross’s, respectfully draw to the attention of vendors, the company conducts business as set out below.

Ross’s shall have absolute discretion as to the following:

1. Whether to offer any lot for sale or not The place and date of sale and the manner under which the sale shall be conducted. Catalogue entries and the manner in which any lot is described.
2. The vendor warrants to both Ross’s and the purchaser his ability to transfer unencumbered title of any lot offered for sale. Where lots have been imported into the United Kingdom, the vendor warrants to Ross’s that he complied with all import and export procedures. The vendor shall indemnify Ross’s, it’s employees and agents and the purchasers against claims made or proceedings brought as a result of failure to comply with export or import regulations.
3. In the event of a reserve being placed on a lot, the amount must be in writing and in sterling and must be agreed by Ross’s. Any change to a reserve should be in writing and should be agreed with the Principal of Ross’s. Ross’s have the right to bid on behalf of the vendor up to the amount of the reserve. The vendor authorises Ross’s to exercise discretion on the reserve and where appropriate to accept bids of not more than 10% less than the reserve figure. Where a reserve is not placed on a lot and the lot is sold to the highest bidder, the price will be deemed to reflect the market value. Where a lot fails to attract a bid at auction, then that lot at the auctioneers absolute discretion may be deemed unsaleable and disposed of. Any items entered for auction which fail to comply with statutory safety legislation will be deemed to be unsaleable and disposed of.
4. The vendor authorises Ross’s to deduct their commission and any other expenses plus value added tax thereon at the prevailing rate. The same rate applies to public auction as to private treaty. If a lot fails to sell, the vendor shall not be charged a commission. Where property is illustrated in a catalogue or advertised in the press the cost will be deducted from the proceeds of sale.
In accordance with statutory legislation all electrical appliances will be tested for compliance with prescribed standards. The cost of such testing will be charged to the vendor.
5. Unless instructions are received to the contrary, all lots shall be covered by insurance for a figure not more than the reserve figure and only under the terms of Ross’s policy. The global insurance figure shall be that which Ross’s estimate as appropriate from time to time. The insurance fee payable by the vendor is 1% of the hammer price plus Value Added Tax at the prevailing rate. Such insurance shall subsist until payment is due or in the case of unsold lots or lots bough in until a period of seven days has elapsed after the lot has been initially offered under the hammer.
If the vendor elects not to insure a lot, it shall at all times remain at the risk of the vendor who hereby undertakes:
(i) to indemnify Ross’s against all claims made or proceedings brought against Ross’s in respect of loss or damage to the lot and even where negligence is alleged or proven;
(ii) to reimburse Ross’s for all costs and expenses arising from any claim made by the vendor.
6. Ross’s does not accept responsibility for lots damaged by changes in atmospheric conditions nor shall Ross’s be liable for any damage to glass or picture frames. If, prior to the proceeds of sale being paid to the vendor, Ross’s receives notice from the purchaser that the lot is a forgery or is not consistent with the description and Ross’s concur with their view, Ross’s will rescind the sale and refund all monies in respect of the lot to the purchaser.
7. Ross’s shall pay to the vendor the proceeds of sale not more than three weeks after the date of sale provided that the purchase price has been paid in full by the purchaser. If, before the purchase price is paid in full, Ross’s pay to the vendor an amount equivalent to the sale proceeds, the property in that lot shall pass to Ross’s.
8. Lots bought in or otherwise unsold by auction must be collected within two weeks after receipt by the vendor of notice from Ross’s requiring him to collect. After the expiry of this period, Ross’s has the right to sell such lots by public auction or private treaty without reserve and to deduct commission, storage and all reasonable ex penses from the sale proceeds. Furthermore, after the expiry of such a period Ross’s takes no responsibility whatsoever for loss or damage to any lots. L ots collected at the vendors request for transfer to Ross’s salerooms shall be moved at the vendor’s own risk and expense and will not be insured in transit unless Ross’s is otherwise instructed in writing by the vendor. Similar conditions apply in the event of lots being returned to the vendor.