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Auction Terms

Home Conditions of Business Online Auction Terms

1. Defined Terms

The following definitions and rules of interpretation apply in these Terms

1.1. Definitions

Account: a Bidder’s account on the Online Platform.

Artist Resale Royalty or ARR: means the royalty to be paid to the original artist of any piece of art under the Artist Resale Rights Regulations 2006 (as amended).

Authenticity Guarantee: the guarantee we provide as principal to the Buyer in relation to a purchased Lot, as set out in clause 17.

Bidder: any person or entity registered to bid in a sale.

Business: a person acting for purposes of that person’s trade, business, craft or profession.

Buyer: the buyer of record of a Lot.

Buyer’s Expenses: any costs or expenses, plus any applicable VAT, due to us from the Buyer in respect of the purchase of a Lot.

Buyer’s Premium: the commission the Buyer must pay to us as part of the Purchase Price for auction Lots. The Buyer’s Premium rate is subject to change at any time. The current Buyer’s Premium rate for all auctions is 10% of the Hammer Price. Buyer’s Premium is subject to any applicable VAT.

Catalogue: the list of Lots offered in a sale and associated information, available on our Website

Collecting Society: the Design and Artists Copyright Society, the Artists Collecting Society or any other collecting society nominated by an artist for the collection of Artist Resale Royalty on their behalf

Consumer: an individual acting for purposes wholly or mainly outside that individual’s trade, business craft or profession.

Hammer Price: for each auction Lot sold, the last price acknowledged by our online platform, or in the case of a post-auction sale, the agreed sale price. Hammer Price is subject to any applicable VAT.

Lot: an item (or more than one item grouped as one) of property offered for sale.

Online Platform: our Website and any other online means through which we enable Bidders to bid on Lots in our sales.

Parcel: a group of Lots of the same type and quantity of wine. There may be some discrepancies between the different Lots in a Parcel with respect to level, condition or otherwise, as set out in the Catalogue descriptions for each Lot.

Purchase Price: for auction Lots, the Hammer Price plus the Buyer’s Premium, any applicable VAT and/or sales or use tax, and any applicable artist resale right royalty payable by the Buyer on a qualifying Lot.

Reserve: the confidential minimum Hammer Price at which an auction Lot can be sold.

Sale: a timed online auction conducted by us on the Online Platform.

Seller: the person(s) or entity(ies) on whose behalf we are offering a Lot for sale.

Terms: these Terms for Online Auctions.

VAT: any applicable Value Added Tax or goods and services tax, or an amount in lieu of Value Added Tax or goods and services tax, as the case may be, at the prevailing rate.

we us or our: House of Assets Ltd.

Website: https://www.houseofassets.com/

you or your: Bidders and Buyers or any agent acting on behalf of a Bidder or Buyer.

1.2. Interpretation:

1.2.1 .A reference to legislation or a legislative provision:

1.2.1.1. is a reference to it as amended, extended or re-enacted from time to time; and

1.2.1.2. shall include all subordinate legislation made from time to time under that legislation or legislative provision.

1.2.2 A person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality).

1.2.3. Any words following the terms including, include, in particular, for example or any similar expression, shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.

1.3. A reference to writing or written includes email but not fax.

2. Introduction

2.1. We are house of Assets Ltd a company registered in England and Wales with company number 15221757. You can find more information about us and our services on our Website.

2.2. These Terms include our Authenticity Guarantee and any other additional conditions that are expressly stated as applicable to a Sale. Our and the Seller’s relationship with you in relation to the Lots offered in a Sale is governed by these Terms. We act solely as agent for the Seller. A sale contract is made directly between the Seller and the Buyer.

2.3. By registering on our Website and setting up an Account you agree to be bound by these Terms. We recommend that you print a copy of these terms for your records.

2.4. We may change these Terms from time to time in our sole discretion, without notice to you or to the Seller, by posting such changes on the Website. It is your and the Seller’s responsibility to periodically check these Terms for changes by clicking the link “Legal.” If these Terms have been revised since your last review the “Last Updated” date at the end of these Terms will have been updated. If you do not agree to these Terms, you will not be allowed to register to bid in a Sale.

2.5. Businesses are not entitled to all the same rights as Consumers. Where a term applies just to Businesses or just to Consumers, this is clearly stated.

3. Access to Sales.

3.1. Sales are conducted by timed online auction. The Sale is an automatic process that is administered according to parameters (such as bid increments and end times) established by us. Bids are placed over a defined time period (“Bidding Period”). Bidders can view the highest current bid. The highest bid, (being the greatest bid that meets or is in excess of any reserve bid), at the end of the Bidding Period is successful

4. Bidder access

4.1. Bidders must be aged 18 (eighteen) years of age or older and have opened an Account with us. We may require financial references, guarantees, deposits or other security, as we determine necessary or appropriate.

4.2. Anyone who has been barred, refused or suspended by us will not be permitted to access a Sale.

4.3. If you access a Sale on behalf of a Business, you warrant that you have authority to bind that Business.

4.4. Bidders shall supply all information requested by us in order to register and represent, warrant and undertake to us that all such information is complete, truthful and accurate. It is your responsibility to update and maintain changes to such information and we are entitled to rely on any information provided by you.

4.5. We reserve the right in our absolute discretion to refuse any request to register and/or approval of any person for any reason, in particular if a Bidder’s conduct poses a risk to the integrity or reputation of our Sales and/or our Website.

4.6. You shall provide to us, upon our request, verification of identity and any additional information required to comply with our Know Your Client requirements, applicable law or to evidence your authority to open an Account and to participate in any Sale. If you are an agent acting on behalf of a Bidder (your “principal”), you shall also disclose to us the identity of the principal and provide to us, upon our request, verification of identity and any additional information required to comply with our Know Your Client requirements, applicable law with respect to you and the principal or to evidence your authority to bid on behalf of and to bind the principal. We reserve the right to seek identification of the source of funds received. If we have not completed our enquiries in respect of Know Your Client, Sanctions, anti-money laundering, anti-terrorist financing or other checks as we consider appropriate concerning you (or your principal, if applicable) to our satisfaction or if we are not satisfied in our sole discretion with the results of such enquiries, we may, in our sole discretion, prohibit you or the principal from bidding, or not complete, cancel or rescind the sale of any Lot, including refusing or returning any payment, as appropriate, and take any further action required or permitted under applicable law without any liability to you.

5. Conduct at Sales

5.1. No shill bidding: Shill bidding (where the Seller, or someone known to the Seller, places a bid in order to inflate the price of the Lot being sold) is strictly prohibited and the Seller warrants and undertakes that the Seller will not place or permit to be placed any bids on any Lots by way of shill bidding.

5.2. Any attempt at shill bidding may extend the relevant Sale time and without prejudice to any other right or remedy that we may have, we may suspend your Account and block all future access to our Online Platform.

5.3. We reserve the right to refuse or revoke permission to bid before or during a Sale for any reason. We also reserve the right to deactivate your Account at any time prior to, during, or after a Sale.

6. Bidding

6.1. You are responsible for making yourself aware of all salesroom notices and announcements, which will be available on the Online Platforms.

6.2. For certain Sales, Bidders are permitted to submit via the Online Platform a maximum bid before the start of a Sale (an “Advance Bid”). Advance Bids will be executed on your behalf automatically up to your predefined maximum value in response to other bids placed on the Lot up to the amount of the Reserve (if applicable). The current leading bid will be visible to all Bidders; the value and status of your Advance Bid will be visible only to you, unless it is the leading bid. Once the Sale begins, the Online Platform will open bidding at the current leading bid. The Online Platform will continue to bid on your behalf up to your predetermined maximum bid, or you may continue to bid via the Online Platforms during the Sale at the next increment.

6.3. All bidding will be in Sterling.

6.4. For Sales with Advance Bidding, you may cancel a bid after you place it only if:

6.4.1. the description of or the condition report for the Lot has been materially revised after the bid was placed; or

6.4.2. a notice regarding the Lot has been posted on our Online Platform after the bid was placed.

Other than in the foregoing limited circumstances, you agree that any bid you place is final and you will not be permitted to amend or retract it. For all Sales, should your bid be successful, you irrevocably agree to pay the full Purchase Price and any applicable Buyer’s Expenses. We are not responsible for any errors that you make or that are made through your Account in placing a bid on a Lot.

6.5. In a Sale, bidding will open at an amount that is at or below the low estimate for the Lot and escalates in bid increments that we determine. We may vary the amount of the bid increments during the Sale. Lots will be closed sequentially by the Online Platform. Lots will close sequentially in 30 second or one-minute intervals (as indicated on the sale page) unless a bid is placed within one minute of a Lot’s scheduled closing time, in which case we will extend the sale of that Lot by two minutes from the time of the last bid and such extensions may be repeated for a maximum period of two hours. The extension of any Lot’s closing time does not affect any other Lot’s closing time; therefore, it is possible that Lots will close out of numerical Lot order.

6.6. The Online Platform may open bidding on any Lot by placing a bid on behalf of the Seller below the Reserve. We may place successive or consecutive bids for a Lot up to the amount of the Reserve, or if there is an irrevocable bid on the Lot, up to the amount of the irrevocable bid.

6.7. The Online Platform may refuse or reject any bid, including bids that have previously been accepted, withdraw any Lot, or reopen or continue the bidding (including the close of a Lot). If the Reserve for a Lot is not met, we may withdraw the Lot from sale, and Online Platform will announce that the withdrawn Lot has been “passed”, “withdrawn”, “returned to owner,” “unsold,” “bought-in” or the equivalent.

6.8. In the case of error or dispute with respect to bidding, either during or after the Sale, we in our sole discretion may refuse any bid, withdraw a Lot, determine who the Buyer is, continue or re-open the bidding, cancel the sale of a Lot, or re-offer and re-sell a Lot (including after the close of a Lot), and take such other action as we reasonably deem appropriate. In the case of any dispute, our sale record will be absolute and final. If there is any discrepancy between any online records or messages provided to you and our sale record, our sale record will prevail. Where we decide to cancel the sale of a Lot or to re-offer and sell a Lot following an error or dispute with respect to bidding, we will notify the Buyer of such decision as soon as reasonably practicable.

6.9. Subject to clauses 6.7 and 6.8, the Buyer will be the highest Bidder accepted for a Lot on the close of the Lot; in the case of a Bidder bidding as agent, such Bidder’s principal will be the Buyer. This means that, subject to 6.7 and 6.8, the sale contract between the Buyer and the Seller is concluded on the close of a Lot at which time the Buyer becomes liable to pay the full Purchase Price and any applicable Buyer’s Expenses. The sale contract between the Seller and the Buyer of a Lot will be final at the end of the Sale.

6.10. Any post-auction sale of Lots will be made pursuant to these Terms.

7. Payment

7.1. Buyers will be invoiced after the Sale. The purchase information shown in the “My Bids” section of the Online Platform and in the “Account Activity” section of your Account is provided for your convenience only. If there is any discrepancy between the online purchase information and the invoice we send you following the Sale, the invoice will prevail. We will process payments through our third-party service provider (currently Stripe), who may post operating rules related to payment on their website and change such rules from time to time.

7.2. The Buyer’s Premium will be added to the Hammer Price on a per-Lot basis and are payable by the Buyer as part of the Purchase Price.

7.3. The Buyer is required to pay the full Purchase Price for a Lot and any applicable Buyer’s Expenses in cleared funds within 48 hours of the Sale,

7.4. The Buyer also must pay as part of the Purchase Price any applicable VAT, consumption tax, goods or services tax or other indirect taxes, luxury tax, excise tax, and duties or tariffs (collectively, “Taxes”), as well as any applicable artist resale right royalty on the purchase of a Lot where and as required by applicable law. We will collect any applicable Taxes and artist resale right royalty on the purchase of a Lot where and as required by applicable law.

7.5. The Buyer shall pay the Purchase Price in full. If the Buyer is a Business payment shall be made without any deduction for taxes of any kind, unless such deduction is required by law. In any such case, the amount due to us from the Buyer will be increased to an amount that after deduction for any such taxes leaves an amount equal to the Purchase Price.

7.6. We will not accept payment from a source other than the Buyer. If you are registered to bid as a Business, your Business will need to pay for any purchases in the name of the Business via an accepted payment method. Partial payment for a Lot is not permitted.

7.7. Payments in cryptocurrency will not be accepted

8. Consequences of Late or Non-payment

8.1. If the Buyer fails to pay the Purchase Price by the due date for payment without our prior agreement, the Buyer will be in default. In such a case, without prejudice to any rights or remedies the Seller may have, we may in our sole discretion exercise one or more of the following rights or remedies in respect of each Lot for which the Buyer has failed to pay in full, to the fullest extent permitted by law, in addition to any and all other rights or remedies available to us or the Seller by law or in equity:

8.1.1. cancel the sale of the Lot;

8.1.2. set off any amounts owed to the Buyer by us against any amounts outstanding from the Buyer in respect of the Lot or any damages suffered by us as a result of breach of contract by the Buyer;

8.1.3. apply any deposits and/or payments made to us by the Buyer as part of the Purchase Price and Buyer’s Expenses towards such Lot or any other Lot purchased by the Buyer, or to any shortfall on the resale of any Lot pursuant to paragraph (viii) below, or to any damages suffered by us as a result of breach of contract by the Buyer;

8.1.4. reject future bids from the Buyer or render such bids subject to payment of a deposit;

8.1.5. charge interest at the annual percentage rate of 4% above the Bank of England base rate, but in no event greater than the maximum rate permitted by law, from the date on which payment is due to the date the Purchase Price and the relevant Buyer’s Expenses are received in cleared funds (both before and after judgment);

8.1.6. resell the Lot at the Buyer’s expense either at auction or by private sale, with estimates and reserves set at our discretion, and if such resale is for less than the sum of the Purchase Price and applicable Buyer’s Expenses for that Lot, the Buyer will remain liable for the shortfall together with all costs incurred in such resale;

8.1.7. commence legal proceedings to recover the Purchase Price and Buyer’s Expenses for that Lot, or to claim damages for the Buyer’s breach of contract, together with interest and the costs of such proceedings on a full indemnity basis; and

8.1.8. release the name and address of the Buyer to the Seller to enable the Seller to commence legal proceedings to recover the amounts due and legal costs, and in such case, we will take reasonable steps to notify the Buyer prior to releasing such details to the Seller.

9. Artist’s Resale Royalty

9.1. The Seller shall be responsible for payment of any ARR due on the sale of any item to the Collecting Society.

10. The Lots

10.1. All Lots are offered for sale in the condition they are in at the time of the sale. You acknowledge that Lots may be of an age and type such that they are not in perfect condition. Catalogue descriptions and condition reports may refer to imperfections of a Lot, but Lots may have other faults not expressly referred to in the Catalogue or condition report. Illustrations on the Website are for identification purposes only and may not convey full information as to the actual condition of a Lot.

10.2. You accept responsibility for making your own enquiries and investigations in relation to Lots which you may be interested in. Condition reports may be available on request.

10.3. You acknowledge that the information provided on each Lot is dependent on information provided by the Seller, and we do not carry out exhaustive due diligence on each Lot. Information provided to you regarding any Lot is a matter of opinion only and not a representation of fact. This information is dependent upon, among other things, the condition of the Lot, the degree of research, examination or testing that has been carried out and the status of generally accepted expert opinion. Any estimates should not be relied upon as a prediction of the selling price or value of a Lot and may be revised from time to time in our absolute discretion.

10.4. We reserve the right to withdraw any Lot from a Sale or to cancel a Sale, whether prior to or during the Sale, and we will not be liable to you for any claims, causes of action, liabilities, damages, losses, or expenses in connection with such withdrawal or cancellation.

10.5. Unless otherwise specified, all Lots are offered subject to a Reserve. You acknowledge that we may reduce the Reserve for any Lot at any time during the Sale, provided it has been agreed with the Seller prior to any such reduction.

10.6. Each Lot offered will be referenced by its Lot number assigned in the Catalogue. Unless we specify otherwise, bids must be on a per-Lot basis.

10.7. The Buyer is solely responsible for identifying and obtaining any necessary export, import or permit for a purchased Lot. Neither we nor the Seller make any representations or warranties as to whether any Lot is subject to export or import restrictions or any embargoes. The denial of any permit or license will not justify cancellation or rescission of the sale or excuse any delay in payment.

11. No Warranties by Seller or by us

11.1. All Lots are offered for sale “AS IS,” without any guarantee, representations or warranties by us or the Seller, except for the express representations and warranties given by the Seller as set out in the Catalogue and any Authenticity Guarantee. We and the Seller disclaim all implied warranties, including but not limited to satisfactory quality and fitness for a particular purpose, except in so far as such obligations cannot be excluded by law. Neither we nor the Seller give you any guarantee, representation or warranty as to the correctness of the Catalogue or other images or descriptions of the condition, completeness, size, quality, rarity, value, importance, medium, frame, provenance, exhibition history, or literary or historical relevance of any Lot, and no statement anywhere, whether oral or written, will be deemed such a warranty, representation or assumption of liability. Except as expressly set out in the Catalogue, neither we nor the Seller make any representations or warranties as to whether any Lot is subject to copyright or whether the Buyer acquires any copyrights, including but not limited to, any reproduction rights in any Lot.

12. Buyer Representations and Warranties

12.1. You represent and warrant to us and the Seller that at all relevant times:

12.1.1. your bids on any Lot are genuine and are not the product of any collusive or other anti-competitive agreement and are otherwise consistent with any applicable antitrust laws;

12.1.2. your conduct under these Terms has not and will not violate any applicable law, regulation or code in any jurisdiction;

12.1.3. regarding any Lots containing alcoholic beverages, where required by applicable law, you are properly licensed, permitted or otherwise authorized to purchase, receive, possess and/or cause to transport alcoholic beverages;

12.1.4. your purchase of a Lot and, if you are acting as an agent on behalf of a principal, the arrangement between you and your principal, will not facilitate tax crimes;

12.1.5. you have no knowledge or reason to suspect that:

12.1.5.1. the funds used to purchase a Lot are connected with the proceeds of criminal activity, or

12.1.5.2. you or your principal, if applicable (or, if you are an entity, any person with a beneficial or ownership interest in you), are under investigation, charged with, or convicted of any substantive or predicate money laundering or economic sanctions crime, terrorist activity, tax evasion or act in violation of any anti-bribery or anti-corruption laws or regulations;

12.1.6. you (and your principal, if applicable) are not, nor are you (or your principal, if applicable) owned (in whole or in part), controlled, or acting on behalf of, a person that is:

12.1.6.1. the subject of economic sanctions, embargoes or other trade restrictions in any jurisdiction, including those administered and enforced by the United States, European Union or any of its member states, United Kingdom, United Nations Security Council, or other applicable sanctions authority (collectively, “Sanctions”), or

12.1.6.2. located, organized, or resident in a country or territory that is the subject of Sanctions (including Crimea, Cuba, Iran, North Korea, Syria, the Russian Federation and Belarus) (collectively, “Sanctioned Jurisdictions”);

12.1.7. you (and your principal, if applicable) are currently in compliance, and for the past five years have complied, with applicable Sanctions, anti-money laundering, anti-terrorism, and anti-bribery or anti-corruption laws;

12.1.8. the Purchase Price will not be funded directly or indirectly by or from anyone that is the subject of Sanctions or located, organized, or resident in a Sanctioned Jurisdiction;

12.1.9. no party directly or indirectly involved in the transaction is the subject of Sanctions or is owned (in whole or in part) or controlled by any person that is the subject of Sanctions or otherwise located, organized, or resident in a Sanctioned Jurisdiction, except as expressly authorized in writing by the government authority having jurisdiction over the purchase and with our prior express written consent;

12.1.10. if you are acting as agent on behalf of a principal, you have taken steps reasonably designed to ensure compliance with Sanctions, anti-money laundering, anti-terrorism, and anti-bribery or anti-corruption laws, including but not limited to, conducting appropriate due diligence on your principal and screening source of funds. You will retain and make available upon request the documentation evidencing such due diligence for at least five years after the purchase;

12.1.11. your purchase will not cause (or otherwise result in) us, any Seller, or anyone else to violate any Sanctions, anti-money laundering, anti-terrorism, or anti-bribery or anti-corruption laws; and

12.1.12. you have full legal authority without any further action or other party’s consent to enter into and perform under these Terms and to give these representations and warranties; if you are an entity, the individual bidding on your behalf is authorized to do so and the entity is duly incorporated or formed, validly existing and in good standing in the jurisdiction where it is incorporated or formed.

12.2. We may, in our sole discretion, rescind the sale of a Lot if we reasonably determine that (i) any of the Seller’s representations or warranties are inaccurate, incomplete or breached; or (ii) the sale has subjected or might subject us or the Seller to liability.

13. Indemnity

13.1. You shall indemnify and hold us, our officers and employees, and the Seller harmless against any and all liabilities, costs, expenses, damages and losses (including but not limited to any direct, indirect or consequential losses, loss of profit, loss of reputation and all other reasonable professional costs and expenses) suffered or incurred or paid by us or by the Seller arising out of or in connection with any inaccuracy, incompleteness or breach of any of your representations or warranties or breach of your obligations under these Terms to the fullest extent permitted by law.

14. Delivery, Risk and Title

14.1. The Seller will ship purchased Lots directly to you. It is your responsibility to ascertain and pay all international duties, custom charges, taxes, charges and tariffs owed to the appropriate government entity or that otherwise need to be paid prior to shipment and/or delivery including any third-party charges necessary to facilitate shipment. Shipping of the Lot will be to the address you provided on your Account following conclusion of the Sale. Purchased Lots cannot be delivered to P.O. boxes, and the Seller will be restricted to delivery addresses accepted by mainstream commercial courier services (including DHL, DPD, FedEx, TNT) otherwise the Seller will not be able to arrange delivery

14.2. Risk and responsibility for a purchased Lot will transfer to the Buyer when the Lot comes into the physical possession of the Buyer or the Buyer’s designated agent.

14.3. Title in a purchased Lot will not pass to the Buyer until the full Purchase Price is paid in cleared funds. The Seller will be directed to release the Lot to the Buyer or Buyer’s agent after the full Purchase Price has been paid together with any applicable Buyer’s Expenses and appropriate identification of the Buyer and Buyer’s agent (if any). Any earlier release does not affect the passing of title or the Buyer’s unconditional obligation to pay the full Purchase Price and any applicable Buyer’s Expenses.

15. Cancellation

15.1. If you are a Consumer who habitually resides in the European Union or United Kingdom and the Seller is a Business, then you have the right to cancel your online purchase of goods (the “Right to Change your Mind”) for any reason during the period of 14 calendar days after you or your designated agent (other than the carrier) acquires physical possession of the Lot (the “Cancellation Period”). To exercise the Right to Change your Mind in relation to a Lot, the Consumer must:

15.1.1 notify the Seller via the Online Platform of intention to cancel by a clear statement (direct message; email or using the model cancellation form provided) prior to the end of the Cancellation Period, and

15.1.2. return the Lot to the Seller in the same condition as when you or your representative received it, by no later than 14 calendar days after providing notice of intent to cancel.

15.2. You shall return the Lot or deliver it to the Seller at such address as the Seller may specify for the purpose, no later than 14 calendar days from the day after which you notify the Seller of your intention to cancel your purchase of the Lot. This deadline is met if you send back the Lot before the period of 14 calendar days has expired. You must bear the direct costs of returning the Lot. 


15.3. We will make the reimbursement to the Buyer using the same method of payment as the Buyer used for the initial transaction, unless expressly agreed otherwise. We will not charge the Buyer any fee in connection with processing the reimbursement.

15.4. If you handle the Lot in a way which would not be acceptable in-store, the Seller may reduce your refund, to compensate the Seller for its reduced value. For example, the refund may be reduced if the Lot’s condition is not the same as when despatched to you. In some cases, because of the way you have treated the Lot, no refund may be due.

15.4. We will not reimburse the Buyer for any supplementary costs that arose if you chose a type of delivery other than the least expensive type of standard delivery offered by the Seller or any import duties you incur as a result of you returning the Lot to us. We are entitled to deduct from the reimbursement the amount of any loss in value of the Lot that is caused as a result of unnecessary handling by you.

16. Exclusions and Limitations of Liability

16.1. Neither we nor the Seller will be liable for errors or omissions in the Catalogue or other descriptions of the Lot, though if we discover a material error or omission in such materials prior to the Sale, we will endeavour to provide a correction, time permitting.

16.2. We reserve the right to withdraw any Lot before the conclusion of the sale and will have no liability to you for such withdrawal.

16.3. Broadband or other internet capacity constraints, corporate firewalls and other technical problems beyond our reasonable control may create difficulties for some Bidders including, for example, in relation to accessing an auction via the Online Platform and in maintaining continuity of such access. Neither we nor the Seller will be liable to you for any failure to execute bids through our Online Platform, or errors or omissions in connection therewith, including, without limitation, errors or failures caused by:

16.3.1. any loss of connection between you and our Online Platform;

16.3.2. a breakdown on or problem with our Online Platform or other technical services; or

16.3.3. a breakdown or problem with your internet connection, computer, mobile device or system.

16.4. The Seller of any Lot is not liable to you for any acts or omissions in connection with any matter relating to the sale of such Lot, other than a breach of the express representations and warranties given by the Seller.

16.5. We are not responsible for any breach of these Terms by the Seller.

16.6. Our liability to Consumers. We are responsible for losses you suffer caused by us breaching these Terms unless the loss is:

16.6.1. Unexpected. It was not obvious that it would happen and nothing you said to us before we engaged with you on these Terms meant we should have expected it (so, in the law, the loss was unforeseeable).

16.6.2. Caused by a delaying event outside our control. As long as we have taken the steps set out in the section We’re not responsible for delays outside our control.

16.6.3. Avoidable. Something you could have avoided by taking reasonable action. For example, damage to your own digital content or device, which was caused by digital content we supplied and which you could have avoided by following our advice to apply a free update or by correctly following the installation instructions or having the minimum system requirements advised by us.

16.6.4. A Business loss. Our liability for any loss you suffer in connection with your Business is limited, as described in clause 10 and 15.7.

16.7. Our liability to Businesses. If you are a Business, then, except in respect of the losses described in clause 15.10:

16.7.1. we shall not be liable to you, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with any contract between us; and

16.7.2. our total liability to you for all other losses arising under or in connection with any contract between us, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall be limited to £5,000,000.

16.8. Nothing in these terms shall limit or exclude our liability for:

16.8.1. death or personal injury caused by our negligence, or the negligence of our employees, agents or subcontractors (as applicable);

16.8.2. fraud or fraudulent misrepresentation;

16.8.3. breach of the terms implied by section 12 of the Sale of Goods Act 1979 or section 2 of the Supply of Goods and Services Act 1982;

16.8.4. defective products under the Consumer Protection Act 1987; or

16.8.5. any matter in respect of which it would be unlawful for us to exclude or restrict liability.

17. Data Protection

17.1. We will hold and process your personal information and share it with the Seller if you are a Buyer as described in, and in line with, our Privacy Policy published on our Website.

18. Authenticity Guarantee

18.1. We, as principal, provide an Authenticity Guarantee to the Buyer in relation to Lots sold by Business Sellers.in relation to Sellers that are Consumers Lots will be sold on the Online Platform if the Seller provides a certificate of authenticity and provenance in respect of the Lot which is then subject to our approval before being added to any Catalogue.

18.2. The Authenticity Guarantee is provided solely for the benefit of the Buyer and cannot be transferred to any third party.

18.3. To claim under the Authenticity Guarantee, the Buyer must:

18.3.1. notify us and the Seller in writing within 28 days of receiving any information that causes the Buyer to question the authenticity or attribution of the Lot specifying the Lot number and the date of the Sale in which it was purchased, and providing all the information in the Buyer’s possession in support of the Buyer’s claim; and

18.3.2. return the Lot to the Seller, in the same condition as at the date of Sale to the Buyer and be able to transfer good title in the Lot, free from any third-party interest or claim(s) arising after the date of the sale.

18.4. We reserve, in our absolute discretion as principal, the right to reject a claim under the Authenticity Guarantee if:

18.4.1. the Catalogue description was in accordance with the opinions of independent experts which are generally accepted and known or privately expressed to us as at the date of the sale, or the Lot description indicated that there was a conflict of such opinions;

18.4.2. the only method of establishing that the Lot was a counterfeit at the date of the sale would have been by means or processes not then generally available or accepted, unreasonably expensive or impractical to use, or likely to have caused damage or loss of value to the Lot;

18.4.3. the manner in which the Lot is said to be a counterfeit is due only to damage, restoration, modification work of any kind (including repainting or over-painting) present at the time of the sale, or the inability of the manufacturer, maker or relevant archives to confirm the authenticity and attribution of the Lot; or the manner in which the description of the Lot is incorrect does not result in a material loss in value of the Lot.
18.5. We can offer Buyer:

18.5.1. an introduction to insurers who have insurance products to cover items against being counterfeit; and

18.5.2. our third party verification and valuation service

such services to be charged by the relevant third party expert or insurer at rates to be agreed.

19. Miscellaneous

19.1. You are personally liable for your bid. If you are an agent acting on behalf of a principal, you and your principal are bound by these Terms and jointly and severally assume your obligations and liabilities under them.

19.2. We own the exclusive copyright to all images and written material we produce relating to each Lot. You cannot use them without our prior written permission. We may use them as we deem appropriate, to the extent permitted by law, before, during or after the sale of a Lot.

19.3. If you are a Business, these Terms, including the Authenticity Guarantee, and the express representations and warranties and indemnity given by the Seller together are the entire agreement between us, the Seller and you with respect to the subject matter hereof and supersedes all prior or contemporaneous written, oral or implied understandings, representations or agreements relating to the subject matter of this agreement.

19.4. You confirm that you have not relied upon, and waive all your rights and remedies available in relation to, any express or implied representation, warranty and/or promise outside of these Terms.

19.5. If any part of these Terms is deemed invalid or unenforceable, such invalidity or unenforceability will not affect the remaining provisions, which will remain in full force and effect.

19.6. No act, omission or delay by us shall be deemed a waiver or release of any of our rights.

19.7. These Terms are binding upon you, your estate, heirs, executors, devisees, representatives, administrators, successors and permitted assigns.

19.8. You may not assign or delegate your rights or obligations under these Terms without our prior written consent.

19.9. Notices to us should be in writing or by emails and addressed to us at:

Postal address: The Old Schoolhouse, 259 Muscliffe Lane, Bournemouth, Dorset BH9 3NJ

Email Address: [email protected] 

quoting the reference number specified for the Sale.

19.10. Notices to you will be in writing or by email and addressed to you at the postal or email address you have provided in your Account.

19.11. All communications between you and the Seller will be via the Seller’s published contact details on the Website.

20. Law and Jurisdiction

20.1. These Terms and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with these Terms, their subject matter or their formation will be governed by and construed in accordance with the law of England.

20.2. Each party irrevocably agrees that the Courts of England and Wales will have exclusive jurisdiction to settle any claim or dispute (including non-contractual disputes or claims) arising out of or in connection with these Terms, their subject matter or formation. If you are a consumer then, wherever you live, you can bring claims against us in the courts of the country you live in or in the courts of England and Wales. If you are a consumer we can claim against you in the courts of the country you live in. If you are a business you irrevocably agree to submit all disputes arising out of or in connection with our contract with you to the exclusive jurisdiction of the English courts.

21. Third Party Rights

21.1. The Contracts (Rights of Third Parties) Act 1999 is excluded and will not apply to these Terms.

Last Updated: 17 May 2024

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