Conditions of Sale
Each Elstob Auctioneers sale is conducted under our full Conditions of Sale. By registering to bid, in person or online, you accept those conditions, summarised below.
Buyer’s premium
The buyer shall pay the hammer price together with a premium thereon of 25%, plus VAT on the premium (30% total). The same rate applies to lots purchased via our own website.
Estimates
Estimates are designed to help buyers gauge what sort of sum might be involved in purchasing a particular lot. The lower estimate may represent the reserve price. Estimates do not include the buyer’s premium or VAT (where chargeable).
VAT
An asterisk (*) indicates that VAT is payable by the purchaser at the standard rate on the hammer price as well as being an element in the buyer’s premium. Lots that appear without symbols are sold under the Auctioneers’ Margin Scheme, and no VAT is payable on the hammer price.
Condition of lots
We are primarily agents for the seller. Intending buyers have ample opportunity to inspect goods and accept responsibility for inspecting and investigating lots in which they may be interested. Mechanical objects of any age are not guaranteed to be in working order. Free condition reports are available on request.
Absentee bidding
Commission bids may be left with the auctioneers indicating the maximum amount to be bid, excluding the buyer’s premium. They will be executed as cheaply as possible regarding the reserve (if any) and competing bids. If two buyers submit identical commission bids, the auctioneers may prefer the first bid received.
Payment
Payment is due in pounds sterling; our preferred method is bank transfer. Card payments are limited to £500 where the cardholder is not present, and we no longer accept cheques. Accounts are due for settlement within seven days of the sale, and purchases are released only once funds have cleared.
Collection and storage
Goods can be collected as soon as they are paid for and within four working days following the sale. Items not collected within four working days of the auction (by 4pm) will be removed to commercial storage and subject to a storage charge of £20 (plus VAT) per lot and a further £2 (plus VAT) per lot per day thereafter.
Forgeries
Any lot which proves to be a deliberate forgery may be returned within 21 days of the auction (not collection), provided it is in the same condition as when bought and is accompanied by a written statement of defects and factual evidence.
Questions about a lot, a commission bid or a consignment? Email info@elstob.co.uk or call 01765 699200.