Our Terms & Conditions

Version 1.1 — 26th July 2019


WatchAuction.co.uk conducts business with bidders, buyers, sellers and consignors and all those registered for an online auction prior to or in connection with a sale on the following General Conditions and on such other terms, conditions and notices as may be set out or referred to herein.


TERMS APPLYING TO YOU THE CUSTOMER

The Privacy Policy - within this we have the terms of how we will process any personal data collected or provided from you.

The Fee Policy - within this we display the fees in which we charge.

The 7 Day Policy - within this we have the terms of how we will give assurances to both the buyer and seller.


BIDDING & BUYING

THE BUYER

  1. All bidders are required to complete our registration process in order to view or bid. The highest bidder shall be deemed the buyer at the hammer price. Any dispute about a bid shall be settled at the auctioneer’s absolute discretion. Once made, no bid may be withdrawn.

  2. The right of WatchAuction.co.uk to bid on behalf of the seller is expressly reserved.

MINIMUM INCREMENT

Bids that do not exceed 10% of the previous bid may be refused at the discretion of WatchAuction.co.uk.

PURCHASE PRICE

  1. All buyers will pay the hammer price in addition to a buyers premium of 16% plus VAT, non negotiable.

  2. Lots purchased via commission or telephony bidding will be charged an additional fee for this service of 2% including VAT.

VALUE ADDED TAX

  1. Value Added Tax on the hammer price is imposed on all items.

Customs & Import Charges

  1. It is a possible that you may encounter customs or import duties that are charged once the parcel arrives at its destination country.

    These charges will need to be paid by you the buyer. Unfortunately, WatchAuction.co.uk holds no control over any of these charges and will be unable to advise what you are likely to be charged. This is due to various customs policies that are in place and may significantly change from country to country.

    Please contact your local customs office for advice; they will be able to provide accurate details of any charges that may be applied, if any.

PAYMENT

  1. As soon as a lot is sold the buyers shall;

    I. Pay WatchAuction.co.uk the total amount due immediately within 24 hours

  2. Any permitted payment by credit card or foreign currency shall carry additional charges.

  3. If payment is made by foreign transfer, WatchAuction.co.uk must receive the total amount in sterling after conversion and the deduction of any bank charges. (Conversion rates will be set by WatchAuction.co.uk on the day of auction)

TITLE AND COLLECTION OF PURCHASES

  1. The ownership of any lots purchased shall not be transferred to the buyer until full payment has been received by WatchAuction.co.uk.

  2. No purchase can be claimed or removed until it has been paid for in full.

  3. Postage and shipping charges will be added to invoices where applicable.

NON PAYMENT OR FAILURE TO COLLECT

7 Days after an auction has finished, any lots not paid for in full and taken away in accordance with these Conditions, or any other breach of these Conditions, WatchAuction.co.uk as agent for the seller shall at its discretion be entitled to exercise all or any of the following rights and remedies:

  1. Proceed against the buyer for damages for breach of contract;

  2. Rescind the sale of that lot and/or any other lots sold by WatchAuction.co.uk to the buyer in question;

  3. Re-sell the lot either by auction or private trade

  4. Remove, store and insure the lot at the expense of the buyer in question

  5. Charge interest at a rate of 5.9% per month on the total amount due to the extent it remains unpaid for more than 7 working days after the sale

  6. Retain any other lots purchased by the buyer in question until all items purchased have been paid for in full

  7. Reject, ignore or exclude bids from the buyer in question from all future auctions or impose conditions before any bids are accepted

  8. Apply proceeds of any sale due to the buyer in question to the payment of purchased items remaining unpaid

  9. Charge the hammer price plus buyers premium and internet charges to the card registered with WatchAuction.co.uk.

THIRD PARTY LIABILIY

All members of the public present at the auctioneer’s premises are there at their own risk and must pay attention to the security arrangements of the accommodation. Accordingly, WatchAuction.co.uk shall incur no liability for death or personal injury (except where required by law) or for the safety of the property or persons visiting prior to or at a sale.

COMISSION BIDS

Whilst it is strongly advised that buyers are online and active on the day of auction, WatchAuction.co.uk where clearly instructed in writing may bid on behalf of buyers. WatchAuction.co.uk nor its employees or agents shall not be responsible for any failed bids. In the instance WatchAuction.co.uk is bidding on behalf of multiple buyers at the same time, bids of the same value shall be awarded to the bid placed first.


SELLING

WARRANTY OF TITLE AND AVAILABILITY

The seller warrants to WatchAuction.co.uk and the buyer that the seller is the true owner of the property consigned or has full authority from the true owner to consign it for sale with WatchAuction.co.uk and transfer title to the property free from any third party claims.

RESERVES

  1. The seller shall be allowed to place a reserve on any lot consigned unless pre agreed with WatchAuction.co.uk that the consignment holds no reserve

  2. Reserves must be reasonable in line with WatchAuction.co.uk appraisals and WatchAuction.co.uk reserves the right to reject unreasonable reserves

  3. An agreed and set reserve may not be changed unless consented to do so by WatchAuction.co.uk

AUTHORITY TO DEDUCT COMMISSIONS AND EXPENSES

  1. The seller authorises WatchAuction.co.uk to deduct commission at the stated rate and all expenses incurred for the buyers account from the hammer price and acknowledges WatchAuction.co.uk reserves the right to retain the premium paid by the buyer in accordance with these conditions.

  2. The seller authorises WatchAuction.co.uk in their discretion to negotiate a sale by private trade in the case of lots unsold at auction in which case charges will be applied at the same rate of those sold at auction

COLLECTIONS

WatchAuction.co.uk does not themselves undertake the collection of goods but may, as the seller’s agent, instruct a contractor. WatchAuction.co.uk accepts no liability for the actions of such contractor who contracts with the seller direct.

INSURANCE

  1. WatchAuction.co.uk holds all goods on their premises and in their custody covered against the risks of fire, burglary and water damage

  2. The amount reimbursed to the seller will be the sum of the lower estimate of any lot’s stated on the consignment form minus the agreed seller’s commission.

AGENCY

WatchAuction.co.uk acts as agent only and disclaims any liability for default by the buyer or for paying out the seller before receiving payment by the buyer.

UNSOLD ITEMS

Unsold items will not incur a fee but may be liable to postage costs if necessary.

WITHDRAWALS

  1. Any lots withdrawn from the sale after the written agreement to sell it, WatchAuction.co.uk will charge the seller 4% of the lower estimate

  2. WatchAuction.co.uk may withdraw any property from the sale without liability if WatchAuction.co.uk reasonably believes that the authenticity is questionable


GENERAL CONDITIONS

  1. WatchAuction.co.uk act as agent for the seller and as such is not responsible for default by the seller or the buyer. The seller acknowledges that lots are sold subject to the stipulations of these Conditions.

  2. Subject to the next following Condition concerning deliberate forgeries, any representation or statement by WatchAuction.co.uk in any catalogue as to originality, genuineness, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only. Prospective buyers are given a video and pictures of the watch, a completed appraisal by WatchAuction.co.uk and a certified check from ‘The Watch Register before any sale and prospective buyers must satisfy themselves as to all such matters. Neither WatchAuction.co.uk or its employees or agents nor the seller accept liability for the correctness of such opinions and all conditions and warranties, express, implied or statutory are hereby excluded. WatchAuction.co.uk are not liable for the authenticity of watch parts if no representation or statement to the originality is made in the description or condition report.

  3. Any lot proving to be a deliberate forgery (as defined) may be returned to WatchAuction.co.uk by the buyer within 28 days of the auction provided it is in the same condition as when bought, and is accompanied by particulars identifying it from the relevant catalogue description and a written statement of defects. If WatchAuction.co.uk is satisfied from the evidence presented that the lot is a deliberate forgery WatchAuction.co.uk shall refund the money paid by the buyer for the lot (but not the amount of any consequential loss, damages, expenses or interest). Any lot which proves to be a deliberate forgery after this 21 day period cannot be refunded as (1) this was the opinion made by the expert(s) using the information and resources accessible at the time of the sale (2) timepieces are classified as a wasting asset (machinery) and will therefore depreciate over time mechanically & in value since the time of the sale.

  4. WatchAuction.co.uk reserves the right, at its discretion to refuse admission to its auctions or premises by any person.

  5. Any indemnity under these Conditions shall extend to all actions, costs, expenses, claims and demands whatsoever suffered or incurred by the person entitled to the benefit of it and WatchAuction.co.uk declares itself to be a trustee of the benefit of every such indemnity so far as it is expressed to be for the benefit of its employees and agents.

  6. Any notice to any buyer, seller, bidder or viewer may be given email in which case it shall be deemed to have been received by the addressee 48 hours after being sent.

  7. Special terms may be used in catalogue descriptions in which case they must be interpreted in accordance with any glossary appearing at the commencement of the catalogue.

  8. Any indulgence extended to buyers or sellers by WatchAuction.co.uk notwithstanding the strict terms of these Conditions or the terms of consignment shall affect the position at the relevant time only and in respect of that particular concession only; in all other respects these Conditions shall be construed as having full force and effect.

  9. Data Protection - WatchAuction.co.uk will use information supplied by Buyers and Sellers or otherwise obtained lawfully by WatchAuction.co.uk for the provision of auction related services, client administration, marketing and as otherwise required by law. By agreeing to these Conditions of Business, the Buyer or Seller agrees to the processing of their personal information and to the disclosure of such information to third parties world-wide for the purposes outlined above.

  10. WatchAuction.co.uk must be informed if anyone with disabilities wishes to attend the auction or viewing days so that the required arrangements can be made.

  11. English law applies to the interpretation of these Conditions.

  12. WatchAuction.co.uk should be informed at least 48 hours prior to the auction if you require help due to a disability effecting your efficiency in bidding.