Conditions of Sale for Vendors

How you agree to comply when selling

  1. INSTRUCTIONS: All goods submitted to Jones & Jacob for sale will be accepted by them subject to these Sale Conditions. By signing or receiving the reverse of the vendors standard sale entry confirmation form the Vendors will be deemed to acknowledge and agree to these conditions.
  2. TERMS AND CONDITIONS: Commission is charged on a lot by lot basis at the rate of 15% up to £500 (there is a minimum charge of £10.00 plus VAT sold or unsold), 12.5% £501 to £999 and 10% £1, 000 or over. This includes inspection, advice, cataloguing and all national and local advertising. Prior to the printing of the catalogue fees for withdrawing lots are 5% of the reserve or Auctioneer's estimated value and any other cost incurred and if the catalogue has already been printed and the lot advertised or published on the Internet the full rate of commission applies. Clients' money: You are advised that all clients' money is held in the following account, Jones & Jacob Ltd Clients Premium Account, Barclays Bank, Hart Street, Henley on Thames, No interest is payable on monies held in this account.
  3. RESERVES: All goods are offered WITHOUT RESERVE unless written instructions are received by the Auctioneers prior to the Sale. In the event of an article not being sold at Auction the Auctioneers will, if possible, re-sell by private treaty at a minimum price of the agreed reserve. No reserves of less than £50 are accepted. Instructions given by telephone are at the sender's risk and all instructions should be confirmed in writing. The right is reserved to charge a buying-in fee of 5% on reserve prices left by Vendors, but no additional charge is made for articles not sold where the reserve was at the discretion of the Auctioneers. Unless Vendors give other instructions, unsold lots will be re-offered in a subsequent sale WITHOUT RESERVE or returned at the discretion of the Auctioneers.
  4. ILLUSTRATION: A charge of £25 (plus VAT) is made for photographs used for illustrating Vendors' goods in the catalogue and/or on the Internet. No additional charge is made for national or local advertising.
  5. INSURANCE: All goods are covered under the Auctioneer's policy whilst on their premises. A charge of 1% + VAT of the hammer price is made to Vendors for this. The value for insurance purposes shall be at the assessment of the Auctioneers and shall not exceed the lower figure of the published sale estimate. Motor vehicles, polished surfaces, glass and picture frames are excluded.
  6. STORAGE AND TRANSPORT: We or our carriers will collect in any area as economically as possible. Alternatively, goods can be brought to our premises at any time by appointment. Transport costs are the responsibility of the Vendor and will be deducted from the proceeds of sale. Nominal storage charges are incurred for articles awaiting sale. Storage charges are also made on lots that are unsold or withdrawn. No liability will be accepted for loss or damage to goods delivered to the Auctioneer's premises without sufficient instructions or identification. The Auctioneers reserve the right to donate to charity or otherwise dispose of any items sent in for sale, which are unworthy of submitting for sale by auction or which prove to be un-saleable.
  7. UNSOLD ITEMS: In the event of any lot failing to sell, it may (at the Auctioneer's discretion) be re-offered WITHOUT RESERVE in the next available sale unless contrary instructions are received within seven days of the Vendor receiving notification that it is unsold. In the absence of contrary instructions any unsold items considered by the Auctioneers to be unworthy of re-offering may be disposed of without further reference.
  8. BUYER'S PREMIUM: A Buyer's Premium of 15% is charged on the hammer price and is payable to the Auctioneers on all lots together with VAT on such premium.
  9. VAT: Commission, insurance and other charges (also Buyer's Premium) are subject to VAT. If the Vendor is registered for VAT he should declare this fact and state clearly whether he is operating a special scheme for antiques. It is a condition of sale that all items should be inclusive of VAT and it is the sole responsibility of that person to account to Customs and Excise. Goods sent in for sale by private vendors are not subject to VAT on the hammer price.
  10. DEFAULT: The Auctioneers disclaim responsibility for any default by the purchaser. In the event of a purchaser failing to complete their purchase, payment to the vendor will in turn not be completed and the article in question will either be re-offered for sale on behalf of the Vendor or returned.

« BACK to the previous page