Terms & Conditions
Buyers – Sale Terms & Conditions
Buyer’s premium: 25% of the hammer price plus VAT at 20% is payable on all lots. Note: the VAT rate may alter and will be levied at the appropriate rate.
Payment. Payment of all bought lots must be made within 7 days following the sale. Hannam’s Auctioneers Ltd reserves the right to cancel any sale after this period, or where it deems it to be in the seller’s best interests, at the auctioneer’s discretion. Lots may be cleared during sale days; however, a paid invoice must be produced to a member of staff. Full ownership of a lot purchased shall not pass to the buyer until full payment has been made to the auctioneer of the total amount due.
Storage. Free storage of all lots will be provided for five working days following the sale; after this time a storage charge of £5.00 plus VAT per lot per day will be levied, and must be paid upon collection. If these fees are unpaid, or the storage fees accrue to outweigh the original hammer price, the items will be resold in a future auction to recoup storage fees.
Shipping. We can provide uninsured in-house shipping for certain lots; a quote can be requested and our shipping team will establish if the lot is within our capabilities. If not, we will refer you to a specialist shipping company. It is the buyer’s sole responsibility to check the legal restrictions and prohibited list for the country in which they reside before bidding. Refunds will not be issued should shipping be considered too expensive, restricted or prohibited.
Bidding. Prospective buyers are asked to complete a paddle registration card prior to the auction; a full address and form of identification will be requested. Absentee and telephone bids are offered as a free service and at the buyer’s risk. Lots will be purchased on behalf of commission bidders as cheaply as is allowed by other bids and/or reserves. Buy bids are not permitted. The auctioneers reserve the right to re-offer any lot in the case of a dispute, and bidding increments are at the sole discretion of the auctioneer.
Descriptions. Whilst we seek to describe lots accurately, prospective buyers are given ample opportunity to view and inspect before any sale and must satisfy themselves as to the accuracy of any description. Statements as to authorship, genuineness, origin, date, age, provenance, condition or estimated selling price are matters of opinion, honestly and reasonably held. Chinese, Japanese and Oriental works of art catalogued without specific confirmation of age and authenticity are sold as replicas or decorative items only. Lots catalogued as yellow metal have not been tested and are sold as replicas or decorative items only, with no intrinsic precious metal value.
Liability. Goods sold are not new and all goods are sold with all faults and imperfections and errors of description. Illustrations in the catalogue are for identification only. Any disputes over an item are to be made known to the saleroom within 28 days of purchase; we offer a no-return policy under any circumstances after this period. Any lot which proves to be a deliberate forgery may be returned within 28 days of the relevant auction, in the same condition as when bought, and the price paid including buyer’s premium will be refunded.
Damage. Where a member of the public causes damage to a lot, the auctioneer reserves the right to sell it without reserve and to hold that individual liable for the difference between the hammer price and the reserve or lower estimate (whichever is higher), or for the cost of restoration where appropriate.
Data. Hannam’s will obtain personal information about you in order for you to bid; this information will be stored in accordance with GDPR.
Sellers – Sale Terms & Conditions
Seller’s commission: 15% of the hammer price plus VAT; a £5 plus VAT lotting fee on each sold item, and a 1.5% plus VAT insurance charge.
Reserves. Reserves are subject to 10% discretion unless advised by the vendor, and must be altered no later than 24 hours before the auction with the permission of the auctioneers. If instructed to sell without reserve, the lot shall be sold to the highest bidder on the day.
Unsold lots. The auctioneer will notify the seller of any unsold items within 7 days of the sale. The seller can either re-offer the lot(s) with a 50% reduction on the originally agreed reserve, or collect them within 14 days. Free storage of unsold lots is provided for 28 working days following the sale, after which a charge of £5.00 plus VAT per lot per day applies.
Withdrawn lots. A withdrawal fee of 50% of the agreed reserve or lower estimate applies; lots cannot be withdrawn within 72 hours of the auction.
Illustration. All lots are illustrated online for no fee; a £10 fee may apply if an image is printed in the auction catalogue.
Sale proceeds will be released no earlier than 30 days following the auction.
Hannam’s Auctioneers Ltd reserves the right to alter these Terms and Conditions without notification to clients. Questions? Email sales@hannamsauctioneers.com or call 01420 511788.