Terms & Conditions for Buyers
BUYERS TERMS AND CONDITIONS DEFINITIONS
UK Restoration Auctions is the trading name of Sydham Restoration Auctions Limited a company registered in England and Wales (12612761),
In UK Restoration Auctions Terms and Conditions outlined below the following words and expressions shall have the following meanings unless otherwise stated.
These Terms and Conditions were last updated on the 28th July 2021.
We recommend buyers also read the Sellers Terms and Conditions.
- The Buyer – This is the person whose bid is highest by the end of a timed auction and concludes the contract for the purchase of a Lot.
- Buyer’s Commission – The commission charged to “The Buyer” in addition to the hammer price and internet bidding fee. UK Restoration Auctions has a Buyers Commission of 5%.
- Contract – This means the contract formed in line to these conditions between any of the Seller, the Buyer and UK Restoration Auctions. Where UK Restoration (Sydham Restoration Limited) are the Sellers, this will be expressed in principal in the Lot(s) listing, and then the contract formed pursuant to these conditions is between the Buyer and UK Restoration Auctions themselves, who are bound by the Terms and Conditions outlined.
- Duration – These are the four different durations offered to Sellers that their Lots can be listed for. These options for the Lots duration are either 1 Week (7 days), 2 Weeks (14 days), 3 Weeks (21 days) or a full calendar month on our website. The Duration is specified by the Seller on our Consigning Lots form. Buyers must be aware that Sellers may enter multiple Lots with different durations.
- Hammer Price – This is the price in British £ sterling at which a Lot finishes once the timed auction has been completed.
- Internet Bidding Fee – This is a flat fee payable by the Buyer of £1.00p on every lot they purchase through UK Restoration Auctions. 50% of this Internet Bidding Fee is donated to our chosen charity partner, Guide Dogs For The Blind, www.guidedogs.org.uk.
- Lot(s) – This is any item(s) consigned with a view to its or their sale at timed auction through UK Restoration Auctions.
- Premises – This is where UK Restoration Auctions stores all Lots before, during and after the timed auction has been completed. This is also where Lots can be viewed prior to the sale by a pre organised appointment.
- Reserve – This is the minimum Hammer Price (if any) agreed between UK Restoration Auctions and the Seller at which the Lot may be sold. Lots with reserves will be clearly stated. Reserves must be outlined by the seller at the time of the Lot(s) consignment.
- Register to Bid Form – This is the form to be completed by the Buyer to enable them to bid. Upon the completion of this online form your details will be added onto our database and you will be able to bid in our timed auctions.
- The Sale – This is the timed auction which the Lot is consigned for sale.
- The Seller – This is the person who offers the Lot(s) for sale through UK Restoration Auctions. Where UK Restoration is the Seller then this will be expressed in principal in the Lots listing.
- Total Amount Due To From Buyer – This is the Hammer Price in respect of the Lot sold plus the Buyer’s Commission (5%) and additional charges (£1.00p Internet Bidding Fee per item) and expenses due from the Buyer under these conditions plus VAT chargeable if applicable in British £ sterling.
- Value Added Tax (VAT) – This is UK Value Added Tax at the prevailing rate at the date of the timed auction. The UK VAT rate currently is 20%. Please note items sold by UK Restoration through UK Restoration Auctions are subject to VAT. Sydham Restoration Limited that trades as UK Restoration (www.ukrestoration.com) is registered in England & Wales VAT Number 302 5982 14.
TERMS AND CONDITIONS FOR THE BUYER
- The Buyer is the individual making the highest bid at or over Reserve (if any) in one of our timed auctions by UK Restoration Auctions.
- The contract for the Lot between the Buyer and UK Restoration Auctions shall be concluded at the end of the timed auction for that Lot, with the Lot then chargeable in line with UK Restoration Auctions Terms and Conditions.
- All prospective Buyers have to register in order to bid by successfully completing our Register to Bid Form.
- A prospective Buyer will be unable to execute their bid if they have not successfully completed our Register to Bid Form.
- All Buyers have to provide photographic identification in the form of either a copy of their current driving licence or valid passport when completing our Register to Bid Form.
- All sold Lots will be invoiced to the Buyer to the address that appears on their supplied driving licence. If a passport has been supplied then we will require a utility bill or other appropriate document with the Buyer’s address on it.
- The Buyer shall pay to UK Restoration Auctions in respect of each Lot the Buyer’s Commission calculated on the Hammer Price at the stated rates in addition to the Internet Bidding Fee, calculated to give the Total Amount Due.
- The Buyers Commission is the commission payable by the Buyer. UK Restoration Auctions charges Buyers a commission of 5% per Lot in addition to the Hammer price for the Lot and a £1.00p internet bidding fee.
- The Internet Bidding Fee is the flat fee payable by the Buyer of £1.00p on every Lot they purchase through UK Restoration Auctions. 50% of this Internet Bidding Fee is donated to our chosen charity partner, Guide Dogs For The Blind, www.guidedogs.org.uk.
- For UK Restoration Auctions timed auctions the following bidding increments will apply: Under £100 : £2, £100 – £250 : £10, £250 – £500 : £25, £500 – £1000 : £50, £1,000+ : £100.
- For UK Restoration Auctions timed auctions each Lot will be live for either 1 Week (7 days), 2 Weeks (14 days), 3 Weeks (21 days) or a full calendar month from the Lots initial listing.
- Buyers are assured that all Lots that are consigned to UK Restoration Auctions are done so exclusively, meaning that they are for sale through no other medium once consigned by our Sellers.
- All Lots consigned to UK Restorations Auctions will not be ended early before their scheduled end time. The Seller is aware that their Lots once live can not be withdrawn.
- UK Restoration Auctions shall have the absolute discretion to settle any dispute related to bidding.
- Every Buyer shall be deemed to act as a principal unless UK Restoration Auctions has, prior to the timed auction date, acknowledged (either by acceptance of our Register to Bid form which discloses the true principal, or otherwise in writing) that the Buyer is acting as an agent on behalf of a disclosed principal.
- Upon the sale of a Lot, the Buyer will pay to UK Restoration Auctions the Total Amount Due, at latest by 5pm no later than 72 hours (Three business days) after the completion of the timed auction for the Lot by bank transfer. UK Restoration will endeavour to send invoices out within 24 hours of the completion of the Lot.
- UK Restoration Auctions are unable to accept payment from successful bidders other than by bank transfer. Our bank details are: Account Name: SYDHAM RESTORATION AUCTIONS LIMITED, Bank: METRO BANK, Branch Sort Code: 23-05-80, Account Number: 40615334, IBAN Number: GB73MYMB23058040615334.
Swift Code: MYMBGB2L
- Buyers who fail to pay UK Restoration Auctions without a legitimate reason are likely to be banned from future auctions.
- Complementary storage is offered on all Lots for 21 days after the end of the timed auction the Buyers Lot(s) are in. Please see our Storage Solutions link for rates.
- In any event, neither the Seller or UK Restoration Auctions shall be liable for any indirect or consequential loss whatsoever, and the maximum liability of UK Restoration Auctions, in the event of any claim against them arising from the sale of any Lot shall be limited to the Hammer Price plus Buyer’s Premium in respect of that Lot.
- UK Restoration Auctions reserve the right to settle any legitimate claim by their own methods, not necessarily through their insurers.
- If within 21 days after the sale date UK Restoration Auctions have received from the Buyer of any Lot photographic evidence showing that in their view the Lot they have purchased through UK Restoration Auctions is a deliberate forgery, it is requested that the Lot be collected by UK Restoration Auctions at our expense at the earliest opportunity, assuming it is in the same condition as at the time of the timed auction sale. If UK Restoration Auctions conclude that the item is a deliberate forgery then the sale of the Lot will be rescinded and the purchase price of the same refunded. The Seller and the Buyer agree to be bound by UK Restoration Auctions’ final decision.
- In the event of a dispute of the nature outlined in point 22. above, then the matter shall be settled by arbitration. The arbitrator will be nominated by the President of the Royal Institution of Chartered Surveyors. Both the Buyer and the Seller agree to be bound by the decision.
- UK Restoration Auctions in all respects acts and will be treated as an agent for the Seller except where UK Restoration (Sydham Restoration Limited, Registered in England & Wales VAT Number 302 5982 14) is expressly stated to be selling as principal. Lots sold by UK Restoration Auctions for UK Restoration are subject to VAT at the prevailing rate, unless the Lots age means no VAT is applicable.
- UK Restoration Auctions shall be under no liability for any injury, damage, death or loss sustained by any person while on UK Restoration Auctions premises delivering, viewing or collecting Lots.
- UK Restoration Auctions shall have the right, at its sole discretion, without assigning any reason, to refuse any person admission to our Premises or admittance to any of our timed auctions.
- UK Restoration Auctions shall keep and use any data relating to the Buyer and the Seller in accordance with the provisions of all relevant data protection legislation. The Buyer consents to such data being kept and used for appropriate purposes.
- If any condition or any part of these conditions under any term shall be held to be invalid or unenforceable, the validity or enforceability of the remaining conditions will not be affected.
- These conditions shall be governed by and construed in accordance with English Law. All transactions to which these conditions apply and all matters connected therewith shall also be governed by English Law.
- Each of UK Restoration Auctions and the Buyer hereby submit to non-exclusive jurisdiction of the courts of England and Wales.