Selling at Auction

The Auction Rooms are open to accept goods by appointment – Monday – Friday 9.00a.m – 5.00p.m.

Commission Rates – Per Lot –     Items up to £1000.00 – 20%

                                                      Lots over £1000.00, 20% of first £1000.00 then 10% thereafter

                                                      Minimum Charge per lot – £2.50

                                                  ALL CHARGES SUBJECT TO VAT

In these following paragraphs, Iain M Smith who act as Auctioneers and Agents are termed ‘The Auctioneers’.

As Iain M Smith are Auctioneers, all goods delivered to the Auction Hall will be deemed to have been delivered for sale by Public Auction. By delivering items to Iain M Smith for inclusion in their Auction Sales, the Vendor acknowledges that he/she has accepted and agreed to be bound by these Conditions.

Iain M Smith disclaim all responsibility for damage to goods, for loss or unauthorised removal of goods unless caused by the negligence of their employees.

Unless otherwise instructed in writing, by the vendor, all goods on Iain M Smith premises and in their custody will be insured against the risk of fire, burglary, and water damage (but not against accidental breakage or damage) for which insurance the Auctioneers will charge a premium of 1% of the gross amount realised for the goods so covered, or, in the case of unsold lots, of the best bid.

The Auctioneers shall not bear responsibility for damage to, or the loss, theft or destruction of any items which are not so insured on the owner’s written instructions.

The Auctioneers have absolute discretion to divide any lot aggregate, any two or more lots, or to withdraw any lot or lots from the sale, and to refuse bids, regulate bidding or cancel the sale – all without in any case being required to give a reason and without previous notice.

The Auctioneer may bid on behalf of the vendor for all goods which are being offered subject to reserve, at his discretion.

The highest bidder shall be the buyer. The Auctioneer may, at his sole discretion, determine the advance of the bidding or refuse a bid.

If during the Auction the Auctioneer considers that a dispute has arisen, he has the absolute discretion to settle it or to re-offer the lot. The Auctioneers decision is final.

All goods are considered to be for sale ‘without reserve’ unless instructions, in writing, as to the reserve are lodged with the Auctioneers before the sale commences.

Iain M Smith disclaim responsibility for the default by either the vendor or the buyer because they act as Auctioneers and therefore do not pay out the vendor until payment is received from the buyer.

With regard to items in sales, the purchase price payable by the buyer shall be the aggregate of the final hammer price and a Premium of 20% of the final hammer price. The Auctioneers are entitled to retain said Premium in addition to the commission stated.

Payment to vendor will be made within 14 days of the sale provided payment has been received from the buyer.

The Auctioneers reserve the right to dispose of any items which may be rejected as unsuitable for sale or for which after trial they are unable to obtain a bid. A charge will be made for the removal and disposal of each lot.

All person on Iain M Smith premises at any time shall be deemed to be there at his/her own ricks and shall have no claim against Iain M Smith in respect of any accident which may occur or in respect of any injury, damage, or loss, howsoever caused.