“Buyer’s Premium” refers to the premium of 20% (plus VAT) which is levied on the Hammer Price of all lots.“Hammer Price” shall mean the highest bid accepted by the Auctioneers excluding any VAT that may be included thereon.“The Buyer” shall mean the maker of the highest bid accepted by the Auctioneers whether on the fall of the hammer (when the Hammer Price is achieved) or by private treaty sale.The words “Lot” and “Goods” refer to items sold at auction sales conducted by the Auctioneers.The terms shall regulate the sale of each lot to any vendor, bidder and buyer who has been approved by the Auctioneers and shall be considered to have accepted these terms and wishes to be bound by them.ģ The following conditions are binding on all Vendors, Bidders and Buyers: ![]() CONDITIONS BINDING ON ALL VENDORS, BIDDERS AND BUYERSġ These General Conditions of Sale are issued by Sterling Vault Auctioneers Ltd (referred to in the Conditions as “the Auctioneers”).Ģ The following Conditions of Sale must be strictly adhered to along with the Important Sale Information which is displayed to bidders on all auction catalogues and in the auction office.
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