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IMPORTANT INFORMATION - PLEASE READ VERY CAREFULLY
AUCTION DESCRIPTION: As a result of recent client wins, including the Aston Martin Valkyrie project, Cosworth is offering an opportunity to purchase components and memorabilia from iconic engine projects over its illustrious 60 year history. Cosworth is expanding its operations to meet growing demand for its state-of-the-art powertrain and electronics solutions, requiring its storage facilities to be repurposed.
SALE LOCATION: Cosworth Ltd., The Octogon, St James Mill Road, Northampton, NN5 5RA
VAT: 20% unless specified - please see individual lots.
BUYERS PREMIUM: 15%+VAT. Note the buyers premium is always plus VAT.
OFFICE CONTACT: Emma Offler 01200 443366 9am to 4pm.
SITE CONTACT: Richard Travis
COLLECTIONS: 22nd and 23rd of November between 10am and 3pm only. No other collections are possible. Under no circumstances will goods be stored. Uncollected goods may be disposed of at the discretion of the vendor. This is a highly secure facility and access by members of the public is tightly monitored. IMPORTANT - You will be refused collection if you cannot provide photo ID, i.e. drivers license or passport etc AND a copy of the original remittance as sent to the bidder. Please ensure you bring along your photo ID and the remittance documentation at time of collection. For security reasons CCTV will be in operation throughout the facility capturing both audio, video and vehicle registration numbers.
POSTAGE & PACKAGING: Postage, packaging, crating and palletisation is available to any worldwide location - please obtain a quotation when you receive your winners notification by email. Any postage, packaging, palletisation and crating of goods will not be available until 14 days after the close of the auction. You may organise your own courier to collect on your behalf, so long as full and final payment in secured beforehand. Please ensure any courier is supplied with your invoice number as reference for collection. Failure to do so may result in collections being refused from site.
OFFICE OPENING HOURS: MONDAY TO FRIDAY 9am to 5pm only.
VIEWINGS: Public viewing is available on Friday 2nd November 11am to 3pm only. As with all lots available at auction we strongly advise bidders view items prior to bidding to ensure they are completely satisfied with condition and application.
PAYMENTS: In light of recent changes in legislation surrounding taking payment over the telephone by credit or debit card, H&I can no longer accept this method of payment. However, you may still pay by using the Bidspotter payment link which is emailed to you at the close of the auction as well as bank transfer or even cash over the counter at your local bank. For those who are able to visit our main office in Clitheroe, Lancashire, you may still pay in person using chip and pin as long as you have suitable photographic ID with you.
H&I strongly advise bidders to inspect any items prior to placing bids. Any bid placed will be deemed by H&I as proof that the bidder has completely satisfied themselves as to the condition of the item(s). H&I do not test (unless stated otherwise) any equipment presented in auction and all items are sold with no warranty implied or otherwise. The Sale of Goods Act does not apply.
Anyone collecting from site must wear the necessary PPE as appropriate (if appropriate) and have suitable public liability insurance in place. PLEASE NOTE THAT IT YOUR RESPONSIBILITY TO SUPPLY YOUR OWN PPE AND ADHERE TO ALL HEALTH AND SAFETY REGULATIONS. ANYONE NOT WEARING APPROPRIATE PPE WILL NOT BE ALLOWED ACCESS TO THE SITE UNDER ANY CIRCUMSTANCES. THIS IS NON NEGOTIABLE.
YOU MUST READ THE FOLLOWING VERY CAREFULLY. IF YOU DISAGREE WITH ANY OF THESE TERMS & CONDITIONS AND THOSE SET OUT IN OUR MAIN TERMS AND CONDITIONS, PLEASE DO NOT BID.
Please remember when you are placing bids that you are entering into a legally binding contract to pay for the goods. Occasionally if any reserves are in place on goods, they may be removed by the vendor(s). In such instances your highest bid will be still a valid bid and should you win the good(s) then you must still pay for them.
Unless stated otherwise, payment must be made within 3 days. When bidding you entered into a legally binding contract with H&I Ltd to purchase. Please think carefully about your bidding activity as non-payment of invoices is not taken lightly and H&I Ltd will take steps to recover any monies due either through the courts or via debt collection agencies. Additionally, your details will be handed over to Bidspotter and your account suspended from future auctions. Once a bid has been placed, it cannot be removed. For simplicity, H&I Ltd accept payment by debit card and via online payment request from Bidspotter. If you have failed to settle your invoice(s) within the specified time, H&I reserve the right to take payment from your registered card held with Bidspotter.
APPRAISALS AND ERRORS
Whilst H&I Ltd endeavour to provide an accurate appraisal and description of any goods, it is ultimately the responsibility of the prospective buyer to inspect condition and suitability. H&I Ltd offer viewing days for potential buyers to inspect goods for themselves. Those placing bids without viewing beforehand do so at their own risk. Where any factors such as dimensions or other data are critical, please ensure you view items prior to bidding. Our terms and conditions of sale are vigorously enforced and any contravention will be pursued to the fullest extent of the law.
Any references to functionality and condition should be determined by the purely by the potential buyer. H&I Ltd are UNABLE TO OFFER REFUNDS once the sale has closed. As clearly stated on Bidspotter when you place a bid, you agree to be bound by the terms and conditions and they state that those bidding without viewing do so at their own risk and that the sale is final with fees being non-negotiable. H&I Ltd do not warrant ANY goods and no warranty is implied. Every single lot in our auctions are strictly on a sold-as-seen-basis. If in doubt, please arrange to view any goods prior to placing a bid.
Non payment of goods purchased at auction with H&I Ltd will be treated very seriously. If after 3 days no payment is received then, without exception, we reserve the right to collect any outstanding monies from your registered credit or debit card. If this is not possible the matter will be handed over to the County Court for recovery of monies owed. A County Court Judgement may be served and you may be liable for all costs incurred in the recovery. H&I Ltd reserve the right to charge a deposit prior to bidding or if in cases where the buyer is not reachable in a reasonable amount of time, the full balance owed may be taken from the registered card.
IDENTITY VERIFICATION - PLEASE READ VERY CAREFULLY
As part of our ongoing identity verification programme, H&I are committed to making the bidding process fair and equal for everyone so from time to time we may randomly select accounts in order to verify contact details. H&I will temporarily suspend any selected account, email the contact and ask for a call back to check details upon which we will reinstate the account for bidding. If no contact is made with our Identity Verification Team within 24 hours, the account will remain suspended and bidding shall not be allowed. Please ensure your contact details held in your Bidspotter account are up-to-date.
You have 5 working days from payment of invoice to collect goods unless otherwise stated. If this time is exceeded then a storage charge of £25+VAT per lot per day will be issued. If the total amount due in storage charges is greater than the value of the lots then H&I reserve the right to take the goods in respect of payment of any outstanding storage fees.
If you disagree with any of the above or our full terms and conditions, we would ask you to not bid in this auction. Thank you.
GENERAL CONDITIONS OF SALE
1.1. In these General Conditions the following words and expressions shall have the meanings set opposite:
“Auction” any auction (whether a Live Auction or an Online Auction and whether conducted independently or simultaneously) conducted pursuant to these General Conditions and the Special Conditions;
“Auctioneer” the person conducting the Auction or to whom the conduct of the Auction is delegated under General Condition 4.9 below;
“Bidder” any person who offers to purchase any Lot whether by bidding at Auction or offering to purchase by private treaty or tender;
“Bid” an offer to purchase any Lot whether by bidding at Auction or offering to purchase by private treaty or tender, and “Bids” and “Bidding” shall be construed accordingly;
“Buyer” any person who agrees to purchase any Lot whether at Auction or by private treaty or tender and as determined under General condition 4.12 below;
"Buyer`s Premium" a commission payable by the Buyer on the completion of a Sale the amount of which is set out in the Special Conditions; The Auctioneer, when acting as Agent for the Seller, may also receive commission from the Seller.
“Catalogue” the catalogue incorporating these General Conditions and the Special Conditions;
"Clearance Date and Time" the date and time on which all Lots must be removed by the Buyer from the Location as specified in the Special Conditions;
"Deposit" the sum payable by the Buyer to the Company as set out in the Special Conditions;
"Live Auction" any auction conducted at the Location or at such other location(s) as shall be notified by the Company in the Special Conditions or in the Catalogue;
“Location” the premises at which the Lots are located, details of which are set out in the Special Conditions;
“Lot” any Lot described in the Catalogue, on the Website or on the Company’s invoice;
"Online Auction" any auction conducted over the internet via the Website pursuant to these General Conditions and the Special Conditions;
"Sale" the sale of any Lot by Auction, private treaty or tender and as determined under General Condition 4.11 below;
“Seller” the person upon whose instructions the Company is conducting the Sale, details of whom are set out in the Special Conditions;
“Special Conditions” any additions to these General Conditions set out or referred to in the Catalogue, announced at Auction or otherwise specified by the Company;
"Website" the website at: www.bidspotter.co.uk;
"VAT" value added tax chargeable under English Law for the time being and any similar additional tax.
2. Application of these General Conditions
2.1. These General Conditions apply to every Sale of plant and machinery, chattels and trade stocks conducted by the Company.
2.2. These General Conditions, the Special Conditions and any terms set out in the Catalogue shall together comprise the "Conditions of Sale".
2.3. To the extent that these General Conditions are inconsistent with any Special Conditions, the General Conditions shall prevail.
2.4. Bidding for any Lot shall be deemed to be an acceptance by the Bidder of these General Conditions and the Special Conditions.
2.5. These General Conditions shall be governed construed and enforced in accordance with the laws of England and Wales unless the Location is in:-
2.5.1 Scotland in which case the laws of Scotland shall apply; or
2.5.2 Northern Ireland in which case the laws of Northern Ireland shall apply.
2.6. A reference to writing or written shall include e-mail.
2.7. Any word or phrase having a meaning defined in these General Conditions shall have the same meaning when used in the Special Conditions.
3. Identity of the Parties
3.1. The Company offers each Lot as agent of the Seller and not as principal unless otherwise indicated in the Catalogue.
3.2. The identity of the Seller is set out in the Special Conditions.
3.3. Unless the Company has previously acknowledged in writing that the Bidder Bids as agent on behalf of a named principal, every Bidder shall be taken to Bid on his own behalf as principal.
3.4. Any Bidder acting as agent on behalf of a named principal shall remain liable to the Seller and the Company for all obligations and liabilities of his principal jointly and severally with the principal. The Bidder warrants that he has the authority of his principal to make each Bid made.
3.5. Every Bidder is required to give his name and address and provide satisfactory proof of identity and such other information and documentation as is required to the Company before making any Bid and in the case of:
3.5.1. a Live Auction by the completion of a registration form;
3.5.2 an Online Auction by online registration at the Website; and
3.5.3 a private treaty or tender by prior registration or notification of details, as and when requested by the Company.
3.6 The Company reserves the right at any time to reject the registration of any persons and refuse access to the Auction at its sole discretion.
3.7 On registration for an Online Auction Bidders will be added to the Company`s mailing list for the purposes of notification of future sales by email. If a Bidder wishes to stop receiving such notifications they can unsubscribe at any time by clicking on the link provided at the bottom of each email.
3.8 On registration in accordance with General condition 3.5 the Bidder acknowledges that only adults aged 18 years and over are entitled to enter into a legally binding contract and as a result they are the only people entitled to register for the Auction. By registering the Bidder warrants that he is aged 18 years or older and is capable of forming a legally binding contract.
4. Conduct of Auctions
4.1 Any Lot may be subject to a minimum bid or reserve price. The Seller is entitled to change these at any time before the conclusion of the Sale.
4.2 The Seller, Auctioneer or any representative, agent or person acting on behalf of the Seller may Bid for any Lot. Persons entitled to Bid pursuant to this condition 4.2 shall be entitled to place Bids on any Lot up to the reserve price including by placing Bids in response to other Bidders.
4.3 Lot descriptions will be amended as appropriate as and when information becomes available to the Company. Prospective Bidders must read Lot descriptions before making a Bid so that they are fully aware of any amendments to the description appearing in the Special Conditions and/or on the Website or in the Catalogue in relation to a particular Lot.
4.4 The Auctioneer may at any time before the conclusion of the Sale withdraw or divide any Lot or combine any Lots.
4.5 The Company may sell any Lot by private treaty or tender before or after the Auction. The Auctioneer may reject any Bid at his sole discretion and without being required to give a reason.
4.6 No Bid shall be retracted without the consent of the Auctioneer.
4.7 The Auctioneer may where there is a dispute between Bidders, summarily determine the dispute or immediately again offer the Lot for sale, in each case without being required to give a reason.
4.8 The Auctioneer shall in every other respect decide how the Auction is to be conducted and without being required to give a reason.
4.9 The Auctioneer may in his sole discretion delegate to a person whom he believes to be competent the conduct of the Auction in accordance with these General Conditions.
4.10 The Auctioneer may from time to time act jointly with an associated Auctioneer who will be named in the Catalogue and/or in the Special Conditions.
4.11 A Sale is concluded (constituting acceptance of the Bidder`s offer, subject to General Condition 4.12 below) when:
4.11.1 in the case of a Live Auction, on the fall of the Auctioneer`s hammer; and/or,
4.11.2 in the case of an Online Auction, at the close of the timed Online Auction Sale as specified on the Website and as defined by General Condition 4.17.3 below or;
4.11.3 in the case of a private treaty or tender, when the Bidders Bid is accepted by the Company, such acceptance to be communicated to the Bidder in writing by way of receipt of the Company’s invoice.
4.12 The Buyer shall be the person who made the highest Bid before the conclusion of the Sale pursuant to General Condition 4.11 above subject to approval and acceptance by the Company, the Auctioneers and the Seller or such other Bidder as the Auctioneer and/ or the Company may declare to be the Buyer without being required to give a reason. The Auctioneer and/ or the Company and/ or the Seller is not bound to accept the highest Bid or any other Bid placed in the course of the Auction.
4.13 In the case of an Online Auction the Buyer, as determined under General Condition 4.12 above, shall within a reasonable time after the conclusion of the Sale receive by email an invoice in respect of the monies due for the Lot(s) purchased.
4.14 In the event that the reserve price is not met, the Company may consider the Bids received below the reserve price with the Seller who at its sole discretion may accept, reject or place a counteroffer.
4.15 On conclusion of the Sale and acceptance of the Bidders Bid pursuant to General Conditions 4.11 and 4.12 above, the Buyer acknowledges and agrees that he has entered into a contract with the Seller to buy the Lot and the Buyer must complete the transaction to purchase the Lot.
4.16 The Buyer may not remove any Lot he has bought until after the end of the Auction.
4.17 In relation to an Online Auction:
4.17.1 the Company cannot guarantee that the internet services will operate continuously or without interruptions and this could affect the conduct of the Online Auction and the Bidders ability to Bid online. The Company shall not be liable in any respect in the event of any dispute due to errors, omissions or disruptions to internet services or power failures or any other unforeseen circumstances which may occur during the Online Auction;
4.17.2 the Auctioneer may at any time, without notice, postpone or cancel an Online Auction or extend an Online Auction beyond the published closing time (including extension of the timed Online Auction in accordance with General Condition 4.17.3 below);
4.17.3 the timed Online Auction Sale is auto bid extension enabled meaning that where a Bid is placed within ten minutes of the original scheduled close of the timed Online Auction the scheduled close of the timed Online Auction will automatically be extended by an additional ten minutes. This continues with a new scheduled close time each time a Bid is placed until no-one places a Bid before the last scheduled close of the timed Online Auction. Every time a Bid is placed within ten minutes or less left in the Online Auction an additional ten minutes Bidding time is added until there are no more Bids. Such time shall then be deemed to be the close of the timed Online Auction.
4.18 In the event that the Auctioneer unknowingly sells a Lot that was not eligible for Sale (i.e. there is a third party interest that comes to light) then the Auctioneer shall be entitled to immediately rescind that Sale without any further liability to the Auctioneer and/or Company or the Seller.
4.19 Copies of the Auctions (Bidding Agreements) Act 1927 and 1969 are held at the Company’s and/or the Auctioneer’s principal place of business.
5. Sale and Payment
5.1 The Buyer shall pay the following sums to the Company in full and without set off:-
5.1.1 immediately upon the Sale of any Lot the Deposit, if requested by the Company; and
5.1.2 the balance of the price of the Lot purchased, together with the Buyer’s Premium by no later than 48 hours after conclusion of the Sale or, in the case of an Online Auction, after receipt of an invoice in respect of the purchased Lot(s) pursuant to General Condition 4.13 above, or such other time and date as may be specified in the Special Conditions; and
5.1.3 any other payment or amount due to the Seller and/or the Company pursuant to these General Conditions or the Special Conditions on demand.
5.2 In every case time for payment shall be of the essence.
5.3 In view of Money Laundering Regulations the Company reserves the right to refuse payment in cash. Payments in cash of more than £7,500 will not, in any circumstances, be accepted.
5.4 If the Buyer fails to make any payment on the due date for payment then, without limiting any other right or remedy available to the Seller, the Buyer shall pay to the Company interest (both before and after any judgment) on the amount unpaid at the rate of 1.5% above the bank base rate of Barclays Bank Plc per month or any part thereof until payment in full is made.
5.5 Until the Buyer has fully complied with its obligations in this General Condition 5:-
5.5.1 title to any Lot bought shall not pass to the Buyer;
5.5.2 the Seller shall have a lien over any Lot bought by the Buyer in the Auction;
5.5.3 if the Buyer effects or purports to effect a resale or any other disposition of all or part of the Lot, the Buyer shall hold the proceeds of resale or other disposition on trust for the Seller.
5.6 All sums payable under these General Conditions and the Special Conditions are exclusive of any applicable VAT for which the Buyer shall be additionally liable to pay to the Company. On written request by the Buyer the Company will provide a VAT invoice.
5.7 The Company will only accept payment under this General Condition 5 from the Buyer or its authorised agents.
6. Removal of Lots
6.1 Risk of damage to or loss of the Lot shall pass to the Buyer immediately upon the conclusion of the Sale.
6.2 The removal of Lots from the Location shall be undertaken by the Buyer entirely at its own risk and without any liability whatsoever to the Company.
6.3 Buyers are responsible for any and all costs and expenses incurred in relation to the removal of Lots and any other applicable charges, taxes and insurance costs.
6.4 The Buyer may not remove any Lot until the Buyer has:-
6.4.1 paid by cleared funds all amounts payable pursuant to General Condition 5 above in full; and
6.4.2 if requested by the Company produced satisfactory evidence to the Company that the Buyer has adequate public liability insurance in respect of the indemnity set out in General Condition 6.11 below and/or deposited with the Company, by way of security for the costs of making good any damage likely to occur, such sum as the Company may stipulate.
6.5 The Company will only permit the removal of Lots purchased by the Buyer or its authorised agents.
6.6 The Buyer must remove each Lot purchased by the Clearance Date and Time for which time shall be of the essence. Lots may only be removed during normal working hours or such hours as are specified in the Special Conditions. No clearance on Bank or Public Holidays.
6.7 Buyers should co-operate regarding order of removal of Lots in order to comply with the Clearance Date and Time. If it transpires that a Buyer makes no effort to commence dismantling and the particular Lot is preventing other buyers from removing purchased Lots, then the Auctioneer reserves the right to insist that removal take place immediately notwithstanding the specified Clearance Date and Time. In the event the Buyer does not comply with its obligations under this General Condition 6.7, then the Auctioneer reserves the right to arrange for the removal and/or storage of the Lot and charge any attendant costs to the Buyer.
6.8 If any Lot is unsold and has to be dismantled & lowered to allow the removal of any other lot, then such dismantling & lowering shall be the responsibility of the Buyer of the relevant Lot(s).
6.9 Title to computer software sold pursuant to the Sale of a Lot is not transferred under any Sale to the Buyer and use is subject to any licence or copyright restrictions and user conditions. The Sellers, Company and/or Auctioneers reserve the right to erase any private or sensitive information prior to the Sale or at any later date.
6.10 The Buyer and/or his removal contractor must liaise with the Company`s site representative prior to commencing dismantling/removal of a Lot from the Location and must at all times comply with its obligations under clause 6.11 below.
6.11 When removing any Lot from the Location the Buyer shall, or shall procure that its removal contractors shall:
6.11.1 carry out a full assessment of Lot, the Location and the land or buildings to which the Lot is fixed to assess the risks associated with detaching/removing the Lot and shall fully satisfy themselves that they can detach/remove the Lot in compliance with the Buyers obligations under this General Condition 6.11 prior to handling and/or commencing removal of a Lot;
6.11.2 obtain all relevant planning permissions (where required) in relation to the removal of building structures and plant housings;
6.11.3 buyers of Lots will be required to make good holes or voids exposed by the removal of Lots. Cladding taken off buildings for removal of plant & equipment will have to be replaced, unless otherwise specified by the Company;
6.11.4 when detaching any Lot fixed to land or buildings, do so safely and lawfully and must not use flame cutters, explosives or any other dangerous equipment or process without first obtaining written consent of the Company;
6.11.5 remove the Lot in compliance with all relevant legislation, regulations, codes of practice, guidance, orders, rules and other requirements of any relevant government or governmental agency or authority whether Parliamentary, statutory, parochial or local including (without limitation) in compliance with the Health and Safety at Work etc Act 1974, the Environmental Protection Act 1990, The Construction (Design and Management) Regulations 2007, Control of Substances Hazardous to Health Regulations 2002 (COSHH), and the Road Vehicle (Construction and Use) Regulations 1986 and any subsequent amendments thereof and all other health and safety and environmental legislation in existence at the time of the Sale. To the extent that such regulations are advisory rather than mandatory, the standard of compliance to be achieved by the Buyer shall be to the best industry practice;
In all cases arising under this General Condition 6.11 the costs of compliance shall be borne by the Buyer and the Buyer hereby indemnifies the Company and the Seller against all losses, costs, expenses, damages, liabilities, demands, claims, actions and proceedings which the Company and/or the Seller may incur arising directly or indirectly out of any breach by the Buyer to the provisions of this General Condition 6.11 and the Buyer shall make good any damage caused to (without limitation) other lots, the Location or to any property belonging to third parties, in removing any Lot under this General Condition 6.11.
6.12 The Company shall be entitled to halt the clearance of any Lot if in its absolute discretion the removal of a Lot is being carried out in an unsatisfactory manner. Where the clearance is halted by the Company, the Buyer must liaise with the Company`s site representative as to how the Lot should be removed from the Location provided that the Buyer shall at all times ensure that it complies with its obligations under General Condition 6.11 above and the Company shall have no liability in this regard.
6.13 The Buyer shall provide evidence as and when requested by the Company of the Buyer`s insurance policies in respect of the following insurances and at a minimum level of:
6.13.1. Public Liability Cover - limit Two Million Pounds (£ 2,000,000); and
6.13.2. Employers Liability Cover - limit Ten Million Pounds (£10,000,000);
the Company reserves the right to vary the level of insurance cover stated above at any time, as and when required.
6.14 The Buyer shall provide to the Company a Risk Assessment & Method Statement complying with The Construction (Design & Management) Regulations 2007, COSHH or with any subsequent amendments thereof or such other legislation as shall from time to time be in force.
6.15 Electric, gas, water, steam and waste disconnections are the responsibility of the Buyer and MUST be carried out by an approved contractor following consultation with the site representative.
6.16 It is expressly brought to the Buyer’s attention that certain Lots could contain blue or white asbestos, dangerous chemicals etc. which if not handled correctly during their removal could result in breach of Health & Safety at Work legislation and/or Control of Substances Hazardous to Health Regulations or other statutory requirements.
6.17 Any fluids, gases and/ or waste remaining in plant and machinery are the responsibility of the Buyer and MUST be removed from the Location strictly in accordance with any applicable statutory requirements.
6.18 The Buyer must use safe and lawful means of removing the Lot, must comply with all current statutory requirements and regulations including those relating to the disposal and removal if waste, and if required, satisfy the Company in relation to their removal procedures; in particular, the removal of waste materials must be undertaken by an approved and licensed contractor to an approved waste management site.
6.19 It is the purchaser’s or their removal contractors responsibility (i.e. Police, Ministry of Transport, Local Authority) to transport off site long/ wide loads, within sufficient time prior to the commencement of clearance period as stated in the Special Notes & Conditions.
6.20 The Buyer shall indemnify the Company and the Seller against any loss, damages, expenses, claims or liabilities arising directly or indirectly from the possession or use of the Lot after title to the Lot has passed to the Buyer but before it is removed from the Location.
6.21 All Lots are sold on the understanding that the Seller does not represent them as being in a condition which makes them suitable for domestic use. If any Lots are intended for domestic use the Buyer must ensure that they comply with the requirements of the Furniture & Furnishings (Fire) (Safety) Regulations 1988 and any subsequent amendments thereof or such other relevant statutory requirements or regulations as shall from time to time be in force.
6.22 The Buyer undertakes to comply with the provisions of the Data Protection Act 1998 in processing data held by them in connection with any Lot.
7. Default by the Buyer
7.1 If at any time the Buyer has failed to pay the sums specified in General Condition 5 above in full by the due date for payment, or to remove any Lot purchased by the Clearance Date and Time specified in the Special Conditions the Seller may rescind the Sale of that Lot, in which case any Deposit shall be forfeit, and that Lot may be resold.
7.2 If the Seller has rescinded the Sale but the Buyer has removed the Lot purchased, the Seller shall be entitled without previous notice to enter upon any premises where he believes the Lot to be and remove it.
7.3 If the Seller has rescinded the Sale and the Lot has been resold by the Auctioneer and/or the Company or by the Seller, the Buyer shall reimburse the Seller with any shortfall where:-
7.3.1 the resale price less the Sale price; and
7.3.2 the costs incurred by the Seller incidental to the resale.
7.4 If the Buyer fails to remove any Lot by the Clearance Date and Time specified:-
7.4.1 the Seller may remove the Lot from the Location and leave it outside at the Buyer’s risk in all respects;
7.4.2 the Seller may charge the Buyer for the reasonable costs of storage;
7.4.3 the Seller may charge the Buyer rent, taxes, men`s wages and expenses incurred as a result of the Lot(s) remaining at the Location; and
7.4.4 the Buyer shall indemnify the Seller against any loss, damages, expenses, claims or liabilities incurred by the Seller arising from the Buyer’s failure to remove the Lot from the Location.
8. Acknowledgements and Exclusion of Warranties
8.1 The Buyer acknowledges that in agreeing to purchase any Lot he is not relying on any warranties or representations made by the Seller or the Company or any of their employee’s agents or representatives. All representations, warranties and conditions, express or implied, statutory or otherwise in respect of all and any of the Lots are expressly excluded and without limitation any warranties and conditions as to title, quiet possession, satisfactory quality, fitness for purpose and description are excluded to the fullest extent as permitted by law.
8.2 The Buyer further acknowledges that neither the Sellers nor the Company shall in any circumstances be liable to or to compensate the Buyer nor shall the Buyer be entitled to rescind the Sale or reject any Lot for an error omission or misstatement contained in the Catalogue and/or in the Special Conditions.
8.3 The Buyer also acknowledges that:-
8.3.1 all the Lots are purchased on the basis that risk of good title to all or any of them passing to the Buyer is at the Buyer’s risk and without limitation the Lots are sold subject to any claims, liens, distraint and execution and subject to all leasing, hire or hire purchase agreements and reservation of title claims (if any) in respect of them;
8.3.2 if it shall be found that the Seller does not have title to all or any of the Lots the Buyer shall have no right to rescind, avoid or vary this agreement or to claim damages or a reduction in the price paid or payable;
8.3.3 anything found in, under, near or in any Lot which is not specifically included in the description of the Lot remains the property of the Seller;
8.3.4 any intellectual property rights or software subsisting in a Lot may be third party property and as such the Seller and/or the Company may be unable to effect transfer. The Buyer will not be authorised to use intellectual property rights or software and any such use or transfer shall be at the Buyers sole risk.
8.4 The Buyer undertakes that it shall ensure that any vehicle comprised in any Lot is in a roadworthy condition in accordance with the Road Vehicle (Construction and Use) Regulations 1986 and any subsequent amendments thereof or such other relevant regulations as shall from time to time be in force before using it on a public road. It is the Buyer’s responsibility to remove Company logos and lettering from vehicles. Odometer readings are not warranted.
8.5 The Buyer acknowledges that any item of plant, machinery or equipment contained in the Lot(s) may not necessarily comply with any statutory requirements or regulations governing the use of that plant, machinery or equipment in their working environment. Neither the Seller nor the Company shall incur any liability to the Buyer because of any default or defect in all or any of the Lots. Buyers are entirely responsible for ensuring that the use of any item of plant, machinery or equipment does not contravene any health and safety and environmental legislation in existence at the time of the Sale.
8.6 The Buyer acknowledges and agrees that the Company is acting only as agent of the Seller and it is expressly agreed and declared that no personal liability in connection with the Sale of any Lot or otherwise shall fall on the Company and the Buyer shall indemnify the Company against all and any liabilities arising under or in connection with the Sale of any Lot. Insolvency Practitioner(s), including Administrative Receiver(s), Administrator(s) and Liquidator(s) act as agent(s) for the Seller without personal liability and shall incur no personal liability whatsoever in relation to a Sale or pursuant to any document relating thereto.
8.7 The Buyer agrees that the General Conditions and the exclusions which they contain are fair and reasonable bearing in mind that:-
8.7.1 the Buyer must rely absolutely on the Buyer’s own opinion and/or professional advice concerning the quality, state, condition, performance and functionality of the Lots any right, title or interest which is sold under the terms of these General Conditions, their fitness and suitability for any particular or any purpose, the possibility that some or all of them may have defects not apparent on inspection and examination including, without limitation, the presence of contamination and the possibility that the Buyer may not acquire title and the fact that the Buyer would have no remedy under this Agreement should that happen;
8.7.2 the Buyer has available to it skilled professional advice and on that basis agrees to purchase a Lot for a consideration calculated to take into account amongst other things the risk to it represented by the fact that the parties believe that all the exclusions and limitations set out in these General Conditions would be recognised as being fully effective by the Courts and the Seller making it clear that it would not have agreed to sell any Lot on any other basis except for a higher consideration;
8.7.3 the Buyer has been given every opportunity which might reasonably be expected to examine and inspect the Lots.
8.8 Notwithstanding anything else in these General Conditions, the Seller’s and the Company’s total liability under or in connection with the Sale of any Lot, whether in respect of breach of contract, tort (including negligence), breach of statutory duty or otherwise, including consequential loss, shall be limited in aggregate to the price paid for the Lot or if no price has been paid then the higher of the market value or reserve price for the Lot. This General Condition 8.8 does not apply to liability for death or personal injury.
8.9 The Buyer acknowledges that a Sale by Auction is not a consumer sale for the purposes of the Sale of Goods Act 1979 (as amended by the Sale and Supply of Goods Act 1994) and the Unfair Contract Terms Act 1977 and the Buyer shall not seek to rely upon and conditions or warranties implied thereby or by any other legislation.
SPECIAL CONDITIONS OF SALE
Seller: As displayed on www.bidspotter.co.uk sale details page or in the catalogue
Location: As displayed on www.bidspotter.co.uk sale details page or in the catalogue
Directions: As displayed in the catalogue
Viewing: As displayed on www.bidspotter.co.uk sale details page or in the catalogue
Access to the Location is allowed on the understanding that all persons attend the Location entirely at their own risk and are responsible for and will indemnify the Seller and the Company against any losses damage or claims occasioned by their presence at the Location.
Children under the age of 16 will not be allowed access to the Location.
All bidders must register their details with the Company and provide identification where required. In the case of Live Auctions by way of the registration form provided at the Live Auction or in the Catalogue and in the case of Online Auctions, online at the Website (www.bidspotter.co.uk).
The General Conditions and the Special Conditions apply to all Sales by way of Auction, private treaty and tender and in the case of any Bids placed by way of an Online Auction stress that all Bidders must read and understand Bidspotter’s terms and conditions of registration at www.bidspotter.co.uk.
At the close of the timed Online Auction Sale final Bid figures will be submitted to the Seller for its approval and any Bid shall be subject to approval and acceptance by the Company and/or the Seller. No Bid may be withdrawn and the Company/Seller does not bind himself to accept the highest Bid or any other Bid placed in the course of the Online Auction Sale.
Buyers will pay a Buyer`s premium of 10% or 15% (as displayed on www.bidspotter.co.uk sale details page or in the catalogue) (plus VAT) of the purchase price for each Lot purchased whether by Auction or, private treaty or tender. The Buyer`s Premium is payable by the Buyer to the Company in accordance with the General Conditions and, for the avoidance of doubt is payable in addition to the purchase price for the Lot. The Buyer`s Premium is not negotiable and is payable by all Buyers.
Buyers shall pay a deposit of 25% (plus VAT) of the purchase price for each Lot purchased as requested by the Company pursuant to the General Conditions and these Special Conditions. The company reserve the right to take a deposit by way of a credit/ debit card payment from the card presented for registration if the payment terms below are not complied with.
All Lots shall be paid for in full within 48 hours of the conclusion of the Sale and shall be at the Buyer`s risk immediately upon the conclusion of the sale.
Cash - In view of Money Laundering Regulations the Company reserves the right to refuse payment in cash. Payments in cash of more than £7,500 will not, in any circumstances, be accepted.
Bankers Draft/ Cheques: (made payable to Bpi & Associates Auctioneers & Valuers ) will only be accepted on the basis that any Lots are not removed until cleared funds are in the Company`s client account.
Debit Cards: The Company accepts debit cards for payment of invoices (subject to a surcharge of 2.5% - £5 minimum fee). Credit cards will only be accepted for deposit payments referred to under the ‘Deposit’ section above.
All sums payable under the General Conditions and these Special Conditions are exclusive of any applicable VAT for which the Buyer shall be additionally liable to pay to the Company.
All lots must be cleared without fail by the date as displayed on www.bidspotter.co.uk sale details page or in the catalogue, such date and time being the Clearance Date and Time as referred to in the General Conditions, REMOVAL OF ALL LOTS WILL BE STRICTLY BY APPOINTMENT, please see the Company`s invoice for contact details.
Collection from site is the Buyer’s responsibility, the Company/ Seller do not provide a packing/ delivery service.
Lots sold subject to a reserve removal will either be indicated in the Catalogue with the date of availability or will be identified by the Auctioneer at the point of Sale. A Deposit will be payable as with other lots but in this instance payment in full can be left until five (5) working days prior to availability. Unless specified to the contrary such Lots must be removed from the Location not later than the Clearance Date and Time specified for final removal in these Special Conditions.
In case of a fire alarm all visitors and contractors are to exit buildings and report to the Muster Point.
No smoking on site. Food and Drink is only to be consumed in designated areas.
All persons including Buyers, their employees, agents, representatives and contractors are reminded that they are responsible for their own safety on site and enter at their own risk and should take the precaution of wearing protective clothing as appropriate.
If Buyers wish to purchase Lots with the help of a finance company they should make arrangements well in advance of the Sale to ensure that they are able to make payment in accordance with the General Conditions.
Overseas Buyers should ensure that the country to which the items are destined:-
• holds no import restrictions on the goods to be purchased;
• has no import licence restrictions or a restriction on currency allocation;
• has no prolonged inspection procedure which might cause excess delay or refusal in allowing your goods to be imported.
Overseas Buyers will receive a fully descriptive invoice in order that they may arrange payment as soon as possible with the Company`s bank.
Overseas Buyers should employ a suitable freight forwarding organisation. Please note that many of the machinery removal companies in the United Kingdom are not necessarily freight forwarders. The [Seller and/or Company] will be pleased to advise accordingly.
The Company makes no representation and accepts no liability whatsoever to any Buyer in respect of the issuance or validity of any exportation or importation permits or the existence and exercise of exportation or importation regulations or any compulsory purchasing regimes.
VAT Payments and Returns:
All overseas Buyers (EU and non EU) will be charged VAT at the current rate on each Lot purchased. This will be refunded to the overseas Buyer as soon as the Seller receives a copy of the bill of lading as proof of export, providing this documentation is received within 3 months of the sale date. The Seller is unable to refund the VAT on the Buyer’s Premium to non EU countries.
Whilst every effort has been made to provide reliable information, Bpi & Associates do not warrant the information contained herein and prospective purchasers must satisfy themselves by inspection as to its correctness.