Conditions of Sale

1 This Notice and Conditions of Sale applies to all sales including sales by private treaty.

CONDITIONS OF SALE
1.1 Definitions
In these Conditions:
Martel Maides Auctions means Martel Maides Auctions Limited whose registered office is The Auction Rooms, Cornet Street, St Peter Port, Guernsey GY1 1LF
The hammer price means the price at which any lot is knocked down to the buyer;
The premium means the premium payable by the buyer under Condition 1.2 below;
The aggregate price means the aggregate of the hammer price and the premium;
Total amount due means the aggregate price together with any additional charges and expenses due from a defaulting buyer under Condition 4.2.

1.2 A premium at the rate of 15% of the hammer price of each lot sold is payable by the buyer to Martel Maides Auctions for their own retention and will not be waived.

1.3 While every care has been taken in the preparation of this catalogue, any statement as to authorship, attribution, origin, date, age, provenance and condition is a statement of opinion and is not to be taken as a statement or representation of fact. Martel Maides Auctions reserve the right, in forming their opinion, to consult and rely upon any expert or authority considered by them to be reliable.

1.4 Martel Maides Auctions for themselves and for the seller of each lot give notice to intending buyers that certain terms used in descriptions of lots contained in Martel Maides Auctions' catalogues have the meanings ascribed to them in the Glossary.

1.5 Martel Maides Auctions reserve the right at their absolute discretion to refuse admission to their premises or attendance at their sales, without giving any reason therefore.

2. Conduct of the Sale

2.1 The seller of any lot shall be entitled to place a reserve on such lot, provided that notice of such reserve has been received by Martel Maides Auctions in writing prior to the sale. Neither the seller on his own behalf, nor any other person on the seller's behalf, except the auctioneer, may make any bid in respect of lots of which the seller is the owner.

2.2 The auctioneer has the right to advance the bidding at his absolute discretion and may refuse to accept any bid, divide any lot, combine any two or more lots, withdraw any lots from the sale and vary the order in which lots are offered for sale without in any case giving previous notice or any reason therefore.

2.3 Martel Maides Auctions act as agents only except:
(i) in respect of any obligation to repurchase under Condition 6; or
(ii) in respect of their retention of the premium and any sums payable under condition 4.2. Martel Maides Auctions shall be under no obligation to account to the seller of any lot for sums due in respect thereof until payment for the lot bought has been made by the buyer to Martel Maides Auctions as required by Condition 4.1.

2.4 Martel Maides Auctions accept no responsibility to anyone in connection with the commissioning by intending buyers of any of their employees to bid for lots on behalf of such intending buyers.

3. Purchase, risk, title and aggregate price

3.1 The highest bidder acceptable to the auctioneer prior to the fall of the hammer shall be the buyer, but if, during or after the sale of the lot, but before the end of the sale as a whole, the auctioneer considers, at his absolute discretion, that a dispute has arisen or that the buyer has not complied satisfactorily with Condition 3.3 or 3.4, or that there is any other reason for so doing, he may at his absolute discretion, put up the lot again for sale. Every bidder shall be deemed to act as principal unless there is in force a written acknowledgement by Martel Maides Auctions that he acts as agent on behalf of a named principal.

3.2 At the fall of the hammer risk in the lot sold shall pass to the buyer, and none of the seller, Martel Maides Auctions, their servants or agents shall be responsible for any loss or damage whether caused by negligence or otherwise, but ownership of such lot shall not pass until payment in respect thereof has been made in accordance with Condition 4. In the event that Martel Maides Auctions shall have agreed and made payment to the seller in respect of any lot before the buyer has made payment to Martel Maides Auctions in accordance with Condition 4, title in the property shall pass to and remain with Martel Maides Auctions until the buyer has made payment to Martel Maides Auctions.

3.3 On the fall of the hammer in respect of each lot sold the buyer shall, if so required by Martel Maides Auctions, forthwith give his name and permanent address to the auctioneer or his assistant together with his bank or other suitable references, and any such other proof of his identity as Martel Maides Auctions may at their absolute discretion require.

3.4 The buyer may be required to pay down forthwith the whole or any part of the aggregate price, and if he fails to do so any lot or lots bought by him may, at the auctioneers absolute discretion, be offered again for resale at any time before the conclusion of the auction.

4. Commission and Collection

4.1 Subject only to any arrangements made in writing with Martel Maides Auctions prior to the sale or where payment has already been made in accordance with Condition 3.4., the buyer shall pay the aggregate price to Martel Maides Auctions not later than 4.30pm on the second working day following the sale and shall, upon making such payment, be required to take away the lot purchased from Martel Maides Auctions' premises at his own expense.

4.2 No lot purchased shall be claimed or removed until the sale has been concluded, if any buyer fails to pay for and take away any lot in accordance with condition 4.1, Martel Maides Auctions as agents for the seller shall, following three working days after the conclusion of the sale, be entitled at their absolute discretion and without prejudice to any other rights or remedies:

(i) to proceed against the buyer for damagesfor breach of contract;
(ii) to rescind the sale of that or any other lots sold to the defaulting buyer at the same or any other auction;
(iii) without notice to the defaulting buyer at any time to resell the lot or cause it to be resold by public auction or private sale and the defaulting buyer shall pay to Martel Maides Auctions any resulting deficiency in the total amount due (adjusted for Martel Maides Auctions' resale costs, and any part payment received);
(iv) to remove, store and insure the lot at the expense of the defaulting buyer;
(v) to charge interest at the rate of 2% per month on the total amount due to the extent it remains unpaid for more than five working days after the conclusion of the sale such interest will run as well as after as before judgement becoming due and
payable forthwith upon demand;
(vi) to retain that or any other lot sold to the same buyer at the same or any other auction and release it only after payment of the total amount due;
(vii) to reject or ignore any bids made by or on behalf of the defaulting buyer at any future auctions or obtain a deposit before accepting any bids in future;
(viii)to apply any proceeds of sale then due or at any time thereafter becoming due to the defaulting buyer towards settlement of the total amount due and to exercise a lien on any property of the defaulting buyer which is in Martel Maides Auctions' possession for any purpose.

4.3 Any sums received by Martel Maides Auctions from any buyer may be appropriated by Martel Maides Auctions towards any amounts owned by such buyer to Martel Maides Auctions on any account whatever, without regard to any purported appropriation of such sums by the buyer, whether express or implied.

5. Responsibility to buyers

5.1 Subject to Condition 6 all lots are sold as shown and neither Martel Maides Auctions nor the seller accept any responsibility for any faults, imperfections or errors of description however caused in or with regard to any lot, and all lots are to be taken and paid for whether genuine and authentic or not. Buyers should satisfy themselves as to the condition of any lot before bidding on it.

5.2 The attention of buyers is drawn to the general notices elsewhere in Martel Maides Auctions' catalogues to the effect that all statements made and contained in the catalogue or elsewhere in any advertisement or brochure are statements of opinion only and are not be relied on as statements or representations of fact.

5.3 Neither Martel Maides Auctions nor the seller makes or gives, neither has Martel Maides Auctions, nor any person employed by the Martel Maides Auctions, any authority to make or give, any representation or warranty to any person in respect of any lot, and any conditions or warranties implied by law are hereby excluded.

5.4.Martel Maides Auctions on their own behalf give no guarantee as to the right of any seller to offer any lot for sale, and will not be responsible for any defect in the sellers title to such lot.

6. Forgeries

6.1. In the event of any lot proving to be a forgery Martel Maides Auctions will, at their absolute discretion and subject to the following conditions, either rescind the sale of any lot and refund such of the aggregate price has been received by them or repurchase the lot for such sum as shall equal the aggregate price paid for the lot by the buyer, provided that this obligation shall only arise if:

(i) within one year of the sale of the lot the buyer gives notice in writing to Martel Maides Auctions that the lot purchased by him through Martel Maides Auctions is a forgery (as hereinafter defined); and
(ii) the buyer returns the lot to Martel Maides Auctions in the same condition as it was at the time of the auction accompanied by written proof of forgery, the number of the lot, and the date of the auction at which it was purchased; and
(iii) the buyer proves to Martel Maides Auctions' reasonable satisfaction that the lot is a forgery and that he is able to transfer a good title thereto free from any liens, charges or encumbrances; and
(iv) the buyer demonstrates to Martel Maides Auctions' reasonable satisfaction that the lot alleged by him to be a forgery is the lot actually purchased by him through Martel Maides Auctions.

6.2 A forgery means an imitation intended by the maker or any other person to deceive as to authorship, date or provenance, provided that it is not shown to be such in the catalogue description and at the date of the sale had a value materially less that it would have had if it had been in accordance with that description. Notwithstanding the above, the buyer shall have no rights in respect of a forgery (as defined) if;
(i) the catalogue description at the date of the sale was in accordance with the then
generally accepted opinion of scholars and experts or fairly indicated that there was a conflict of such opinion; or
(ii) it can be established that the lot is a forgery only be means of process not generally accepted for use until after the publication of the catalogue.

6.3 The benefit of this Condition shall be personal to the buyer who, for the purpose of this Condition, shall be the person to whom the original invoice is made out by Martel Maides Auctions in respect of the lot sold. The benefit of this condition shall not be assignable by the buyer.

7. General

7.1. Any claim by a buyer against Martel Maides Auctions whether under any of these Conditions or otherwise arising out of the sale of any lot shall be limited to the amount (if any) paid by the buyer in respect of such lot shall not extend to any consequential or other loss or damage or expense suffered by the buyer.

7.2. The above conditions and all notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statements modifying or affecting the same made by the auctioneer from the rostrum prior to any bid being accepted for the lot.

7.3. Each bidder by the making of any bid acknowledges his acceptance of these Conditions and the terms of any Notices and other Conditions in the catalogue.

7.4. Martel Maides Auctions are under no obligation to disclose to any person the identity of either buyer or seller of any lot.

7.5 Each sale and matters connected therewith, including these conditions, shall be governed by and construed in accordance with the laws of Guernsey. By taking part in the sale every bidder submits to the nonexclusive jurisdiction of the Guernsey courts.

7.6 The headings are for convenience only and shall be ignored in construing these Conditions.


IMPORTANT NOTICES FOR WORLDWIDE BUYERS

Shipping

Should you be successful with your bidding we would be pleased to make arrangements for your purchased lot(s) to be shipped to various destinations. For further information please contact James Bridges +44 (0)1481 722700, who will be pleased to assist.

VAT and Export

It is important to note that export restrictions may apply to certain items of a Channel Islands Interest. Please read the notice in the catalogue relating to Export Licences.

The Channel Islands are regarded as a Special Territory of EU and therefore no duty is payable on antiques, pictures and collectibles imported into the UK or Mainland Europe, however the Channel Islands are regarded as non-EU for the purpose of VAT.

Currently EU buyers must pay 5% VAT on the import of antiques and certain works of art.

Import VAT is calculated on the total cost of the invoice plus carriage and must be paid to the Carrier direct (not Martel Maides Auctions) prior to the items being shipped from Guernsey. Items will not be shipped unless this payment has been received by the appointed Carrier.

We regret the collection of lots during the sale may not be possible.

Buyers Premium

15%

VAT and Export

It is important to note that export restrictions may apply to certain items of a Channel Islands Interest. Please read the notice in the catalogue relating to Export Licences.

The Channel Islands are regarded as a Special Territory of EU and therefore no duty is payable on antiques, pictures and collectibles imported into the UK or Mainland Europe, however the Channel Islands are regarded as non-EU for the purpose of VAT.

Currently EU buyers must pay 5% VAT on the import of antiques and certain works of art.

Import VAT is calculated on the total cost of the invoice plus carriage and must be paid to the Carrier direct (not Martel Maides Auctions) prior to the items being shipped from Guernsey. Items will not be shipped unless this payment has been received by the appointed Carrier.

Methods of Payment

Purchases can only be released when full settlement (inclusive of all charges) of all invoices issued to the buyer is received in cleared funds. Before bidding, you should ensure that you have the necessary funds available and be able to pay according to one of the methods set out below. All cheques should be made payable to Martel Maides Auctions. We accept the following methods of payment: sterling chque drawn on a UK branch of a bank or building society; bankers draft/building society cheque; sterling travellers cheques; cash; bank transfer; debit cards & credit cards.

Shipping

Should you be successful with your bidding we would be pleased to make arrangements for your purchased lot(s) to be shipped to various destinations. For further information please contact James Bridges +44 (0)1481 722700, who will be pleased to assist.