ONLINE TIIMED AUCTIONS CONDITIONS OF SALE SPECIFIC TO PURCHASERS

1     DEFINITIONS
In these conditions the following terms have the following meanings unless inconsistent with the context:
“Auctioneers” means Stags.
“Host” means Bidpath Online Auction Software & Services – The software providers for this auction.
“Buyers Premium” means the premium charged to buyers on purchase of Lots.
“Conditions” means the standard terms and conditions of business set out in this document.
“Lots” means all or any machinery and other items sold or intended to be sold in accordance with these conditions.
“Purchaser” means a person, firm or Company who purchase any Lot.
“Vendor” means a person, firm or Company who puts forward any Lot intended to be sold at the sale.
“Sale” means a sale of the Lots by auction from time to time organised by the Auctioneers.
“Storage Location” means the venue at which the specific Lot is stored during the sale period and is available for viewing (Please note Stags Auctioneers will not always be able to attend viewings along with purchasers).
“Sale Price” means the price at which a Lot is sold to the winning Purchaser.
“Reserve Price” means the minimum price fixed by either the Auctioneers or Vendor at which any Lot is to be sold in the sale.
“Auction Period” means the duration of the timed auction as advertised. 
“Buyers Premium” means payment to the Auctioneers by the Purchaser for each Lot, on which VAT is chargeable, at the rate as advertised for that Sale.
“Special Conditions” means any additional conditions that are attributable to that specific Sale.
“Purchaser Registration Number” means the number given to a potential Purchaser for that Sale by the Auctioneers.
Except where the context otherwise requires words denoting the singular include the plural and vice versa; words donating one gender includes all genders, words denoting persons include corporations.

2          CONDITIONS OF SALE
(i)    All persons registered to bid in any capacity are deemed to bid on the understanding that they have read and understood these Conditions.  These Conditions may be supplemented or superseded by Special Conditions applicable to specific Sales, any such special conditions will be noted within the descriptions of specific lots or on under the sale terms & conditions notes.
(ii)    No employee or agent of the Auctioneers has any authority to vary these provisions or the Conditions of Sale. 

(iii)    Any dispute arising under this Contract or the Conditions of Sale shall be determined in the first instance by the Auctioneers whose ruling shall be binding on the conduct of the auction. If such an issue including any dispute under Clause 10 remains in dispute after the auction it may be referred by the Buyer the Seller or the Auctioneers to arbitration or if the parties agree to independent expert determination within the period of ten Working Days starting on the date of the Sale by a person agreed between the parties in dispute or failing such agreement by a person appointed by the President of the Central Association of Agricultural Valuers on the application of any of the parties within that time paying such fee as may be charged for that service. The parties agree to meet the professional fees and costs of that person as he shall direct and to be bound by his award both as the matter of the dispute and as to the parties’ costs. 

3       HEALTH AND SAFETY
(i)     All persons viewing a Lot do so at their own risk and with notice of the condition of the premises and their contents.
(ii)     All persons viewing a Lot are hereby made aware that there may be significant risks at the Storage Location including moving machinery and equipment; Caution should be exercised at all times and children and animals/pets must be fully                        supervised at all times.
(iii)     All persons viewing a Lot must take notice of all specific health and safety notices on display at individual sites. If in doubt, please consult the Auctioneer in charge or the owner of the site.
(iv)     Any accidents or incidents that occur on the Storage Location must be immediately reported to Stags and the Vendor and details recorded in the appropriate accident books. No powered machinery or equipment should be started without the                  prior approval of the Auctioneers & the Vendor.
(v)     Any vehicles brought onto the Storage Location to collect lots should be operated with extreme caution and within a 5mph speed limit.  Loading using machinery should only be undertaken by suitably qualified and experienced operators. All                    loading and unloading of items is carried out at the purchasers risk and arrangements to ensure safety at all items should be in place.  
(vi)     The Auctioneers shall have the right at their discretion to refuse admission to their premises or those of their clients by any person.

4     AUCTIONEERS STATUS
(i)     The Auctioneers sell as agents for the Vendor except where they are stated wholly or partly to own any Lot as principal.
(ii)     The parties to the contract of sale are the Vendor and the Purchaser and the Auctioneers as such are not responsible for any default by Vendor or Purchaser.
(iii)     The Auctioneers includes any employee or agent of the Auctioneers who at the relevant time has the authority to conduct an auction sale. 
(iv)     The Auctioneers may announce or publish any statements made and supplied by the Vendor if they see fit.
(v)     The auctioneer retains the right to refuse bids, divide or combine lots, to withdraw lots from the auction, or re-offer a lot for sale in the case of a dispute.
 

5      EXCLUSION OF LIABILITY
(i)     The Auctioneers shall not be liable for any expense, loss, claim or proceedings in respect of any loss, damage or injury whatsoever to any property real or personal (including any Lots) whether incurred before, during or after the Sale.
(ii)     The Auctioneers shall not be liable for any expense, loss, claim or proceedings in any respect or personal injury to or death of any person arising out of or in the course of or caused by the Sale, except to the extent that the same is due to the negligence of the Auctioneers, their servants or agents.
 

6     WARRANTY
        In case of dispute as to the interpretation of these Conditions the decision of the Auctioneers shall be final and binding on all parties save as provided for in Clause 2(iii).
 

7     BUYER’S PREMIUM
        Where the Auctioneers state before the Sale in the catalogue or Special Conditions a Buyer’s Premium together with Value Added Tax may be charged to Buyers calculated on the basis of the Hammer Price at a rate to be stated in that announcement. 
 

8     DESCRIPTION AND CONDITION OF LOTS
(i)    As agents for the Seller, the Auctioneers are primarily dependant on the information provided by the Seller and any statement, written or verbal, made by the Auctioneers in respect of any Lot as to genuineness, origin, date, age, provenance, condition or estimated selling price, including condition reports which may be provided at the Buyer’s request, is a statement of opinion held by the Auctioneers. It is, however, deemed that prospective Buyers have inspected the Lots on which they intend to bid at pre-sale viewings. Accordingly, the Auctioneers accept bids from potential Buyers on the basis that the Buyers (or their advisors) have fully inspected the Lot prior to bidding and have satisfied themselves prior to bidding in relation to the condition and accuracy of the description of the Lot. 

(ii)    The nature of the Lots sold at Auction is such that they will rarely be in perfect condition and are likely, due to their nature and age, to show signs of wear and tear, damage, or other imperfections, restoration or repair. Any reference to condition by the Auctioneers will not amount to a full description of condition. Photographs included in the Auctioneers sale catalogues or on the website, are not representative of the condition of any Lot. 

(iii)    The Auctioneers draw the Buyer’s attention to the exclusion of liability for the condition of Lots contained in the Conditions of Sale. Neither the seller nor the Auctioneers, accept any responsibility for the condition of any Lot. 

(iv)    All portable electrical goods are Portable Appliance Tested (PAT) although they are not guaranteed to be in working order. Prior to use, the electrical system of such goods must be checked and approved by a qualified electrician for compliance with safely regulations. 

(v)    Certain machines could contain hazardous substances such as blue and white asbestos, dangerous chemicals and other hazardous substances which, if not handled correctly and disposed of correctly, could be in breach of Health and Safely at Work Act 1974, Control of Substances Hazardous to Health Regulations 1988 (COSHH) or other current legislation. The buyer undertakes to handle and dispose of correctly, any toxic chemicals and dangerous substances and to indemnify the Auctioneers against any failure to observe these undertakings. 

(vi)    All statements contained in the catalogues and adverts as to any lot are made without responsibility on the part of the Vendors or the Auctioneers, and such statements as to authenticity, genuineness, age, condition or quality, of any lot, are statements of opinion, and are not to be taken as statements or representations of fact.

(vii)    The Auctioneers cannot be held liable for costs incurred in travel or time should a lot be withdrawn from the auction without purchaser notification. 
 

9     RESERVE PRICE AND BIDDING
(i)    Bidders are required to register for a Purchasers Registration Number before bidding at the Sale. Proof of identification (verification of email address and mobile phone number) will be required at the time of registration if the bidder is not known to the Auctioneers. No person may bid without warranting their identity to the Auctioneers. 

(ii)    Any person intending to bid as an agent for a potential Buyer must notify the Auctioneers in advance of the Sale and confirm the arrangements for payment of the goods to the satisfaction of the Auctioneers. 

(iii)    The Auctioneers may accept written instructions to bid on behalf of any prospective Buyer but with no liability in the case of any error arising out of such instructions. Any instructions accepted shall be at the risk of the prospective Buyers who will be deemed to have viewed the Lot. The Auctioneers accept no responsibility in connection with the commissioning of their staff to bid for a Lot. It is the responsibility of the Bidder to ascertain if he has been successful. 

(iv)    The Auctioneers may at their discretion decide to receive bids over the telephone or otherwise from prospective Buyers not physically present at the Sale. Where such a facility is offered prospective Buyers wishing to use it must register with the Auctioneers in advance of the Sale. The Auctioneers accept no liability in relation to telecommunications facilities and connections nor to the means by which such prospective Buyers may seek to communicate with the Auctioneers. 

(v)     Bids shall be made exclusive of any VAT and Buyer’s Premium which may apply. 
(vi)     The Purchaser shall be the person who makes the highest bid acceptable to the Auctioneers.
(vii)     The bidding increments will be regulated by the Auctioneers. The Purchaser shall not make any set-off or other plea for non-payment of the purchase money, and shall be liable to the Auctioneers for any unpaid purchase money whether or not the lot bought has been delivered.
(viii)     All Lots must be inspected by the Purchaser who bids on the understanding that he has inspected or is deemed to have inspected the Lot for which he is bidding and agrees to take it with all faults and imperfections.
(ix)     The Auctioneers may without giving any reason, refuse to accept the bidding of any person.
(x)     The Auctioneers and/or the Vendor reserve the right to fix a Reserve Price and alter this at any time during the auction, for any lot.
(xi)     Although the right to alter reserves is reserved it is expected that all vendors must set a reserve prior to sale and this must not be changed. If no reserve is added at the start of the sale, a reserve should not be added after. Vendors can move reserves down in value but not up in value once the auction has commenced.
(xii)     Lots that are entered, advertised and promoted by the auctioneers but then sold privately out of the auction will attract a reasonable administration fee to cover the Auctioneers costs calculated at 10% of the reserve price. The Auctioneers will not be held liable for a seller defaulting on the conditions of sale in this way.
 

10     PAYMENT
(i)     All Purchasers must register their names and addresses before they are permitted to bid in an online sale.
(ii)     On conclusion of the Sale period the Auctioneers will notify the buyer by email, post or telephone to confirm:
(a)     That the Buyer is the winning bidder
(b)     The amount of the successful bid
(iii)     Attached to the notification email or posted invoice will be an invoice for the amount of the winning bid plus any relevant commission and VAT due.
(iv)     All lots must be paid for within 5 working days of the conclusion of the Sale period unless alternative arrangements are made prior to the auction ending and have been confirmed by the Auctioneers.
(v)     The Auctioneers may at their absolute discretion, agree to accept payment by such other means or such other manner as they see fit.
(vi)     All payments must be made by Cheque, Bankers Draft, Debit Card, BACS or Credit Card (Subject to 2% Charge + VAT on Business Credit Cards).
(vii)     The Auctioneers reserve the right to charge the buyer interest on any payment outstanding from five working days after the date of the invoice together with any reasonable debt recovery charges such rates and charges for all transactions to be those prescribed by the Late Payment of Commercial Debts (interest) Act 1988 as amended.
(viii)     If the Auctioneers have paid the seller the sale proceeds due for a lot before the buyer has paid the Auctioneers in full for the lot then the Auctioneers shall have lien on the lot until the outstanding amount is paid in full by the buyer to the Auctioneers.
(ix)     In the event of any sale by the buyer of a lot that has not been fully paid for the buyer will hold the proceeds of such sale on trust for the Auctioneers to discharge the lien referred to at Clause 10(viii).