CATO CRANE TERMS AND CONDITIONS
In these terms:
“Cato Crane” refers to the registered company name Cato Crane & Co.
“Hammer” Price refers to the price at which any lot reaches when the hammer is put down at auction and the lot has closed
“Conditions of Sale” refers to Cato Crane’s standard Conditions of Sale for the time being in force
“Property” refers to goods belonging to a vendor, with permission for Cato Crane to sell on the vendor’s behalf
- Responsibility and Insurance: Withdrawals of Property
2.1 Cato Crane accepts no responsibility for loss or damage to any kind of property while on Cato Crane’s premises, however caused
2.2. Not withstanding Term 2.1 above, but without prejudice to its terms, Cato Crane will pending sale, insure property accepted for auction on their premises, at the cost of the vendor, against all risks of physical loss or damage, and for the amount estimated by Cato Crane (at their absolute discretion) to the probable auction price of the property. If the vendor wishes for the property to be insured for a specific sum, they must give notice of this to Cato Crane at the time the property in accepted for auction by Cato Crane. This period of such insurance shall be until the earliest of
(i) the passing of risk to the buyer
(ii) the withdrawal of the property by the seller from the premises of Cato Crane
(iii) the property is unsold at auction and seven days pass while the property is on the premises of Cato Crane
The rate of Insurance is 3% of the hammer price of any property sold by Cato Crane by auction. Any unsold lots by auction are subject to 1.5% of the reserve price set by the seller, or if no reserve is set, 1.5% of the top estimate price set by Cato Crane.
VAT at the appropriate rate is applicable on Insurance charges.
In no event will Cato Crane be liable for accidental damages to goods such as damage to plaster picture frames, glazing, glass display cases of all varieties, etc
2.3 Cato Crane undertake collection of property for sale at the sellers cost, but will, if so carried out by a contractor. Cato Crane accepts no responsibility for the acts or omissions of such contractor, nor for any loss or damage to property arising therefrom, however caused.
2.4 In the event that property offered for sale is unsold, or is withdrawn prior to sale, the owner of such property shall give written instruction to Cato Crane within seven working days after the auction in question or such withdrawal (as appropriate) regarding the disposal of such property. In the action of such instruction
(i) Cato Crane will not (unless otherwise agreed) insure such property, and will not accept responsibility for any loss or damage thereto, however caused
(ii) One week after the service of notice on the seller of the intention to do so, Cato Crane shall have the right to sell the property at public auction without reserve and to deduct from the hammer price any sum owing to Cato Crane including (but not limited to) removal, storage, and insurance expenses, the expenses of this and any previous auction, reduced commission at the stated rates on any previous sale at the stated rates and all other reasonable expenses remitting the balance to the seller, or if cannot be traced, placing such balance in a bank account in the name of Cato Crane for the seller
2.5 Without prejudice to Term 8.3
(i) If Cato Crane have agreed to sell by auction two or more properties of the same seller, and that seller withdraws any of those properties before the sale, Cato Crane reserve the right to refuse to sell any one or more of the remaining properties. Upon notification to the seller of their refusal to sell any property under the term, Cato Crane will be under no further obligation in respect of such properties and provisions of Term 2.4 shall apply to such property as though it has been withdrawn by the seller
(ii) If within seven working days after Cato Crane have accepted any property for sale by auction, Cato Crane form the opinion that the property is unsuitable for auction, Cato Crane may, with no notification to the seller, withdraw their acceptance of that property. As soon as possible thereafter Cato Crane will make arrangements to return the property to the seller at Cato Crane’s sole expense
3.1 Cato Crane and their employees shall act as agents of the seller for the sale of the property, in accordance with Cato Crane’s Notices and Conditions of Sale
3.2 The seller authorises Cato Crane to receive payments for the property on their behalf, in any manner which Cato Crane may consider appropriate, and to deduct any sums due from the seller to Cato Crane on any account whatever from any such payments received before remitting the remaining balance to the seller
3.3 Cato Crane shall be under no obligation to account to the seller for sums due from the buyer until payment for the property sold has been made by the buyer to Cato Crane in accordance with the Conditions of Sale
3.4 Not withstanding Term 3.3 above, if Cato Crane remit to the seller the proceeds of the hammer price (less the commissions and expenses payable to Cato Crane) before the buyer has accounted to Cato Crane in accordance with the Conditions of Sale, title in the property shall pass to Cato Crane
3.5 If the buyer does not make payment to Cato Crane in accordance with the Conditions of Sale, Cato Crane shall, subject to any specific instructions which may be given to the seller, have authority on behalf of the seller to take any steps which Cato Crane find appropriate (including the institution of court proceedings) to enforce payment from the buyer. Cato Crane will not however exercise the right to re-offer the property for sale without giving the seller at least seven days notice of their intention to do so
4 Commissions and Expenses
4.1 Our commission from the seller in a maximum of 50% on the hammer price of all sold lots. The minimum charge on all sold lots is £5. In addition to our commission a handling charge of £5 will be charge on all lots offered. In respect of any unsold lot, Cato Crane reserve the right to charge commission at the agreed rate of the seller reserve price. Where a seller cancels instructions for sale, Cato Crane reserve the right to charge a fee of the arranged commission of Cato Crane’s then lowest estimate of the estimated auction price of the property withdrawn with a minimum withdrawal charge of £20
4.2 The seller shall, in respect of the sale of the property, be liable to pay to Cato Crane commission and handling charge at rates set out above. If the seller withdraws the property from auction or the property remains unsold, a fee calculated in the manner set out above shall be payable by the seller upon withdrawal of the property or within seven working days of the date of the auction (as the case may be). VAT at the appropriate rate is payable on all Cato Crane charges and commissions
4.3 Cato Crane shall have complete discretion in the illustration of property in their catalogues at the cost to the seller up to a maximum of £50 per lot (together with VAT and up to £10 per lot to advertise via the Internet
4.4 The seller shall in any event bear the costs and expenses of special advertising, packing, Insurance and freight to and from Cato Crane’s premises (together with VAT)
4.5 Except where otherwise agreed in writing, Cato Crane shall be entitled to exercise a lien on any property of the seller which is for the purpose in Cato Crane’s possession for payment on any sums due to Cato Crane on any account whatsoever. Cato Crane shall also be entitled, on giving the seller seven days notice on their intention to do so, to sell such property to recover any such sums and the provisions of Term 2.4(ii) shall apply to any notice served under this term
4.6 The seller acknowledges that Cato Crane will receive from the buyer a maximum 30% of the hammer price (together with VAT thereon) and assents to Cato Crane receiving the said premium for their own use and benefits
4.7 Insurance Charges – see details listed under Term 2.2
5 Sellers Warranties and Undertakings
5.1 The seller warrants to Cato Crane that he is able to transfer a good and marketable title to the property, free from any liens, charges or encumbrances
5.2 The seller undertakes to indemnify Cato Crane against any loss or damage suffered by Cato Crane as a result of any defect in the sellers title and/or any want of authority in Cato Crane resulting therefrom, and any other legal liability that Cato Crane may incur as a result thereof
6.1 The seller shall be entitled to place a reserve on the property, provided that notice of such reserve is received by Cato Crane, in writing, within 48 hours of the dating and signing of the receipt. Reserves placed verbally will be accepted at the risk of the seller, unless confirmed prior to the auction in writing. A reserve places by the seller shall not be changed without the consent of Cato Crane. Unless the seller gives written instructions to the contrary, items remaining unsold from the first offering may be re-offered without the benefit of any reserve price for as long as the property remains on Cato Crane’s property. Cato Crane may at its option sell property at a hammer price below the reserve, but in any such case the sale proceeds to which the seller is entitled will be equal to the property selling for the reserve price
6.2 Subject to Term 6.1 above, and unless the seller instructs Cato Crane to sell with no reserve, all property will be sold with Cato Crane’s discretion.
6.3 In the event of any reserve price not being reached at auction, Cato Crane has hereby empowered to sell after the auction has closed, by private treaty at not less than the reserve price for as long as the goods remain on Cato Crane’s property. In the event of such sale by private treaty, the Conditions of Sale apply to the buyer as governing the auction will apply
7.1 If during a period of twenty-one days after the sale but before Cato Crane remit sale proceeds to the seller, the buyer gives notice under condition 6 of the Conditions of Sale and proves to Cato Crane’s reasonable satisfaction that the claim is well founded. Cato Crane will be entitled to rescind the sale and issue a refund to the buyer such of the aggregate price as has been received by them. In this event, no commission will be payable by the seller and Cato Crane shall not be liable to account the seller in any way
8.1 The seller or consigner of electrical or mechanical goods warrant and undertake to Cato Crane that at the time which the same are consigned to Cato Crane or put under Cato Cranes control and except as previously disclosed to Cato Crane the same are safe if reasonably used for the purpose for which they are designed and free from any defect not obvious on external inspection which could prove dangerous to human life or health, and will indemnify Cato Crane’s servants and agents against any loss or damage suffered by any of them in consequence of any breach of the above warranty and undertaking
8.2 The seller gives Cato Crane full and absolute right to photograph and illustrated any lot placed in their hands for sale and to use such photographs and illustrations and any photographs and illustrations provided by the seller at any time at their absolute discretion (weather or not in connection with the auction)
8.3 The seller hereby authorises Cato Crane to dispose of items which in the considered opinion, and at the absolute discretion, of Cato Crane have no commercial value and also to dispose of items which do not comply with statutory safety regulations currently in force. Eg. combustible foam filled furniture. The seller authorises Cato Crane to dispose of the aforementioned categories of items without the requirement of Cato Crane to notify the seller of prior disposal. The seller agrees to pay to Cato Crane all costs incurred by Cato Crane for the disposal of unsaleable items
8.4 Each sale and matters connected there with, including these terms, shall be governed by construed accordance with the laws of England. Each seller who is for the purposes of the EC convention on jurisdiction and the enforcement of judgments domiciled in a member state of the EC submits to the exclusive jurisdiction of the English courts, and the every other seller in the non-exclusive jurisdiction to the English courts.
8.5 The headings are for convenience only and shall be ignored in construing these terms.
9 Cato Crane reserve the right to sell clients property by means of public auction on internet auction sites
10 Cato Crane reserve the right to sell goods by private treaty, at their absolute discretion, if those goods have previously been offered for sale at a Cato Crane public auction and have remained unsold.
CONDITIONS OF SALE BY AUCTION FOR BUYERS
ALL LOTS TO BE SOLD WITHOUT COPYRIGHT
- The highest bidder shall be the purchaser. If any dispute arises during the sale the Auctioneer shall be the sole arbiter and his decision shall be final and binding on all concerned.
- The Auctioneer has the right to refuse any bid and to advance the bidding as his absolute discretion.
- A buyer’s premium of 28% + VAT will be added to all bids on lots acquired unless otherwise stated. Card payments are ONLY accepted in person by chip + pin and NOT in any other form such as over the telephone.
- All Lots are put up for sale subject to any reserve price imposed by the vendor, or the right of the vendor to bid either personally or by any one person so instructed (who may be the Auctioneer).
- Cato Crane Auctioneers reserve the right to withdraw or divide any Lot or to combine any two or more lots at their sole discretion.
- At the fall of the hammer, every lot shall be at the absolute risk of the purchaser who should give the Auctioneer his name and address if requested which shall be deemed a full and sufficient acceptance of the Lot and pay such proportion of the purchase price as the Auctioneer may require, in default of which the Auctioneer may re-offer or re-sell the Lot or Lots in question.
- After the sale the following conditions shall apply:-
(a) All purchasers shall pay for and remove their lots at their own expense and risk as soon as possible and in any event within the specified time, unless alternative arrangements have been made with the Auctioneer. Any Lots not paid for and not removed by the purchaser within the specified time may be se-sold by Cato Crane Auctioneers either by private treaty at any price, or without reserve at their Auction Rooms. A cheque for any balance of proceeds of re-sale remaining after deducting the balance of the purchase payable by the purchaser and all other costs and expenses relating to the lots will be posted at the purchasers risk to his last known address. If the proceeds or re-sale are insufficient to cover the balance of the purchase price and all other costs and expenses the purchaser shall pay the amount deficient forthwith on demand to Cato Crane Auctioneers.
(b) Any damage done to the premises or to any Lot or parts thereof by such removal by the purchaser shall be made good at the expense of the purchaser. Principals will be responsible for the acts of their servants and agents.
- Every care has been taken in the preparation of this catalogue. However, Cato Crane Auctioneers point out that every Lot sold with any faults and errors of description and they disclaim for themselves and for the vendor all responsibility for authenticity, condition or quality. All statements on such matters whether printed in the catalogue or made orally are statements of opinion and not representative of fact. Purchasers are deemed to have satisfied themselves on authenticity and condition before bidding and no one in Cato Crane Auctioneers employment has authority to make representation of fact.
- No Lot or Lots shall be removed from the premises in which the sale is held until paid for; no Lot under any circumstances to be removed during the sale. Lots will only be delivered up to the purchaser on production of the cashier’s clearance note. A purchaser of more than one Lot shall not remove any of his Lots before he has paid in full for all of them.
- Cheques can only be accepted from persons who have made prior arrangements and are able to produce a satisfactory Bankers reference. Cato Crane Auctioneers reserve the right to hold back the delivery of any goods until such time as the cheque has been cleared. No Lots can be transferred from the declared purchaser to any other person.
PLEASE NOTE: We regret to say we no longer accept card payments (debit & credit cards) over the phone unless you are paying in person. We accept bank transfers & checks for non local buyers
- Cato Crane Auctioneers may at their discretion carry out buying instructions on behalf of an intended purchaser, provided such instructions are given in writing. A commission form can be obtained from Cato Crane Auctioneers. Any instructions acted on by Cato Crane Auctioneers will be carried out free of charge, except for the buyers premium, but in no event will Cato Crane auctioneers be liable to the intended purchaser in the exercise or non exercise of such instruction. Cato Crane Auctioneers do not hold themselves responsible for, nor are they in any way concerned with, instructions to purchased Lots given to the sales porters or any member of the staff other than the Auctioneer.
- All Persons shall be admitted to the sale premises only at their own risk and Cato Crane Auctioneers may refuse entry and order departure. Any person on the Auctioneers premises before, during or after the sale shall be deemed to be there at their own risk and shall have no claim against Cato Crane Auctioneers in respect of any accident which may occur.
- If by evasion neglect or by any means the purchaser should obtain delivery of his Lot or Lots without payment, then Cato Crane auctioneers may require him to pay 15% interest on the outstanding purchase money from the date of the sale until the date of full payment.
- If any purchaser should fail to comply with the condition of sale, Cato Crane auctioneers shall be at liberty to recover in full the amount of the purchase money of the Lot or Lots bought by such purchaser, with 15% interest; or they may declare his deposit money as forfeited and re-sell the Lot or Lots and any deficiencies which may occur together with any costs of re-sale be payable by the original purchaser.
- VAT is chargeable AT 20% on buyers commission
- Online Bidding
Cato Crane Auctioneers offer an online bidding service via the-saleroom.com for bidders who cannot attend the sale.
In completing the bidder registration on www.the-saleroom.com or www.easyliveauction.com and providing your credit card details and unless alternative arrangements are agreed with Cato Crane Auctioneers you:
- authorise Cato Crane Auctioneers, if they so wish, to charge the credit card given in part or full payment, including all fees, for items successfully purchased in the auction via the-saleroom.com, and
- confirm that you are authorised to provide these credit card details to Cato Crane Auctioneers through www.the-saleroom.com OR www.easyliveauction.com and agree that Cato Crane Auctioneers are entitled to ship the goods to the card holder name and card holder address provided in fulfilment of the sale.
Please note that any lots purchased via the-saleroom.com live auction service will be subject to an additional 4.95% commission charge + VAT at the rate imposed on the hammer price
Please note that any lots purchased via easyliveauction.com live auction service will be subject to an additional 3.5% commission charge + VAT at the rate imposed on the hammer price, unless you have prepaid the fee through the easyliveauction.com website