Buyer’s premium & other charges
All lots purchased are subject to the hammer price plus a buyer’s premium of 22% + VAT. Items are sold under the Auctioneers Margin Scheme unless otherwise indicated.
There are no additional charges for bidding online.
Lots marked with a * in the catalogue are subject to VAT at 20% on the hammer price and any lots marked ** are subject to import VAT at 5% on the hammer price.
Lots marked with § may be subject to Artists Resale Right (Droit de Suite). This is only payable for lots selling above €1,000, made by certain artists who were alive within the last 70 years. An additional 4% will be charged on the hammer price for lots selling between €1,000 and €50,000, with a sliding scale to calculate the charge applied for lots selling in excess of €50,000. Please refer to dacs.org.uk for further details.
Estimates & reserves
All lots are subject to a low and high estimate. These estimates express an opinion on the range in which we believe the hammer price is likely to fall. The estimates are intended as a guide and items may sell above or below the estimates provided. London Auction reserves the right to modify these estimates at any time.
Each lot will be subject to a confidential reserve price, agreed in advance with the vendor, below which the item cannot be sold. The reserve price will not exceed the low estimate. Items may be sold ‘without reserve’ whereby there is no minimum selling price.
Descriptions & condition reports
Auction lots are sold ‘as is’. Descriptions are included based upon opinions and should not be relied upon as statements or representations of fact. London Auction makes no guarantees, warranties or representations, expressed or implied, with respect to the items for sale, as to the correctness of the catalogue descriptions or other descriptions of the authenticity, attribution, condition, origin, size, quality, rarity, importance, provenance, period, age or historical relevance. No statement, whether oral or written, shall be deemed such a guarantee, warranty or representation.
All items are displayed at the sale venue in the lead up to the auction. It is the buyer’s responsibility for assessing the condition of the items sold. Please visit our website for further details for dates and times for viewing.
Condition reports are provided on request. The absence of a condition report does not imply that the lot is without imperfections. Members of staff are not trained restorers or conservators, and condition reports are provided based on opinions. Condition reports are non-exhaustive and are based on what can be seen with the naked eye, unless otherwise specified. The responsibility for ascertaining the condition of the lot remains with the purchaser and London Auction cannot be held responsible for these reports which are of an advisory nature only.
Live online bidding
London Auction offers live online bidding via the-saleroom.com. Registration should be completed prior to the sale.
There are no additional charges for bidding online.
Absentee bids may be left in the form of a written commission bid or by requesting a telephone bid. If you submit a commission bid, the auctioneer will bid on your behalf, in order to obtain the item as cheaply as the other bidding allows, and up to a maximum of the bid left. By requesting a telephone bid, you will be contacted by a member of staff for your requested lots and bidding will be relayed to the auctioneer.
Please email your request for absentee bidding to firstname.lastname@example.org including your contact details, lots numbers / details of the items that you wish to bid on, your maximum bid (for commission bids) and a telephone number for the sale day (for telephone bids).
Please note, London Auction is not responsible for failure to execute any bid for any reason.
Terms of sale
The highest bidder is deemed to be the buyer. Any disputes with the bidding will be settled by the auctioneer, and the auctioneer’s decision will be final. London Auction reserves the right to withdraw, consolidate, divide or alter the order of any lots, and to reject any bid for any reason.
All items purchased from London Auction are payable immediately following the conclusion of the auction. Payment can be made by bank transfer, debit card or credit card. Items will only be released once payment has been received in full, and any other procedures as required by law have been satisfactorily completed.
Title to any lot shall not pass until cleared funds have been received in full, and any checks as required by law have been satisfactorily completed.
If payment is not received within seven days of the sale date, London Auction reserves the right to declare the sale null and void, with any subsequent loss on resale becoming the responsibility of the bidder.
Interest shall accrue on unpaid lots at a rate of 1.5% per month.
Collection and shipping
All items successfully purchased at auction must be collected within 14 days of the sale date at the buyer’s expense.
If any damage is sustained to an item purchased, prior to collection, by means of theft, breakage or other means, London Auction reserves the right to render the sale null and void, without further liability.
Items that are not collected within 14 days of the sale date will incur storage charges of £2 + VAT per lot per day for smaller items, and £10 + VAT per lot per day for larger items and furniture. The buyer will be responsible for loss or damage from this date.
Export Licenses and Restricted Items
Certain items may require an export license or special permit to be legally exported from the United Kingdom and/or imported into another country. Certain items may be restricted from export from the United Kingdom and/or import into another country. Such items may include, but are not limited to, firearms and other weaponry and items that contain endangered species, such as ivory, coral, rhino horn, tortoiseshell and certain types of wood.
It is the buyer’s responsibility to understand if an item is restricted from export and/or import, or if a license or permit is required for export and/or import, and to obtain this at their risk and expense.
All items that contain electrical components are sold as works of art. These items should be checked and certified by an accredited electrician before use. Use of such goods is entirely at the risk of the buyer and no warranties as to the safety of these goods are given.