Conditions of Sale
The terms under which Bosvena Auctions conducts business with buyers and sellers.
Conditions of Sale – Buyer
1. Your Contract with Bosvena Auctions
(a) We conduct business with Bidders, Buyers and all those present at Live Auctions and Online Auctions on the following Conditions and on such other terms as may be published by us.
(b) By agreeing to these Conditions, you represent that you are at least 18 years old.
(c) We may modify or replace these Conditions at any time. Your acceptance at the point of registering to bid constitutes acceptance of changes.
(d) Definitions used in these Conditions are at Condition 19.
2. Bidding Procedures
(a) Bidders are required to register their particulars before bidding and to satisfy security, credit or identity checks.
(b) We reserve the right to ask for a bank guarantee, payment in advance or financial reference.
(e) The Bidder of the Hammer Price bid shall be the Buyer. Any dispute shall be settled at the auctioneer’s absolute discretion.
(f) Bidders shall be deemed to act as principals.
(g) Once made, no bid may be withdrawn.
(h) Our right to bid on behalf of the Seller is reserved up to the amount of any reserve.
(I) Registration via our website must be completed before any bids can be taken. In accordance with Anti Money Laundering procedure, if a client reaches £10,000 further documents will be required.
3. Conduct of Live Auctions
(a) Live Auctions will be conducted at an appointed date and hour. Bosvena Auctions may pause or cease the Auction at any time.
(b) Bidders may place bids in person, by telephone, via the Website and by commission bids.
(c) We reserve the right to withdraw, divide or combine Lots at any time.
(d) The Auctioneer may select and modify bid increments.
(e) We will notify you by email if you are the successful bidder.
(f) Until confirmation, neither Bosvena Auctions nor the Seller are obliged to sell the Lot to you.
(g) Unsold Lots: May be added to an after sale list. You may contact us to purchase from the after sale list.
4. Conduct of Timed Online Auctions
(a) All Online Auctions are conducted on a timed basis. No bid will be accepted before or after the auction period.
(b) If a bid is placed within the final 5 minutes, the auction extends for a further 2 minutes automatically.
(c) Bidders may only place bids via the Website. Commission bids may be submitted 24 hours in advance to info@bosvenaauctions.co.uk.
(d) The Winning Bid will be the highest bid that meets or exceeds the Reserve Price.
(f) Bosvena Auctions reserves the right to cancel an Online Auction if a system failure occurs.
5. The Purchase Price
The Buyer shall pay the Hammer Price together with a premium of 22% plus VAT. By exception, Buyer’s Premium on vehicles is charged at 15% plus VAT.
6. Value Added Tax
VAT on the Hammer Price is imposed on items affixed with an asterisk. *VAT is payable at 5.00% on the Hammer Price and 20% on the Buyer’s Premium.
7. Payment
Immediately a Lot is sold to you, you will:
(a) Give further proof of identity if requested.
(b) Pay by debit/credit card, bank transfer, or cash up to £9,000. Telephone card payments limited to £500 unless known to Bosvena Auctions.
(c) Payments may be applied towards any sums owing.
(d) We may require a 10% deposit immediately.
(e) We comply with Anti-Money Laundering regulations (€10,000 threshold).
8. Title and Collection
(a) Ownership shall not pass until payment in full.
(b) Collect within 5 working days of the Auction; after which storage and insurance charges apply.
(c) No purchase can be claimed until paid for.
(d) Furniture: Items not removed in 5 days will be moved to storage at buyer’s expense.
(e) Wildlife Material: May require CITES permits. Client’s responsibility.
(f) Blades: Not for sale to persons under 18. Photo ID required.
(g) Firearms: Subject to UK firearms/shotgun licensing.
(h) Shotgun Cartridges: Valid firearms licence required.
(I) Electrical Goods: Sold as ‘antiques’ only; must be checked before use.
(J) Documents: May not automatically include copyright.
9. Remedies for Non-Payment
If a Lot is not paid for in full, we may: proceed against you for damages; rescind the sale; resell the Lot; charge storage; charge interest at up to 1.5% per month; retain Lots until payment; reject future bids; apply other sale proceeds. If uncollected after 30 days, £5 per day fee applies.
10–18. Additional Conditions
10. Third Party Liability: Any person on our premises is there at their own risk.
11. Artist’s Resale Right: Royalties apply for artworks over £1,000 by living or recently deceased artists. Rates from 4% to 0.25%, max £10,000.
12. Commission, Telephone & Online Bidding: Commission bids 24 hours before; telephone lines 48 hours before; online bidding available via our website.
13. Warranty of Title: The Seller warrants they are the true owner.
14. Agency: We act as agents for the seller.
15. Terms of Sale: The Lot is sold subject to these Conditions.
16. Information to Bidders: Estimates are guidance only. Condition reports available 48 hours prior.
17. Forgeries: May be returned within 21 days.
18. General: English law applies.
19. Definitions
“Auction” — a Live Auction or Online Auction.
“Auctioneer” — our representative conducting the Auction.
“Bidder” — a potential Buyer accepted for registration.
“Buyer” — the buyer as identified in Condition 2.
“Buyer’s Premium” — as defined in Condition 5.
“Forgery” — an imitation made with intent to deceive.
“Bosvena Auctions” — Bosvena Auctions Ltd, company no. 16958637.
“Hammer Price” — highest accepted bid meeting/exceeding the Reserve.
“Live Auction” — auction at our premises with in-person, telephone, website or commission bidding.
“Online Auction” — timed auction conducted on our Website.
“Reserve” — confidential minimum price agreed with the Seller.
“Total Amount Due” — Hammer Price plus premium, VAT and charges.
“Website” — www.bosvenaauctions.co.uk
20. Vehicles
All vehicle Lots are sold “as is” without any warranty that they are in working order.
Conditions of Sale – Seller
1. Our Status
(a) You appoint Bosvena Auctions Ltd as agent to sell the item on your behalf.
(d) Seller’s Commission plus VAT: Live/Online Auction commission is 15%. Bought-in lots: 10% of reserve. Minimum £10 per lot; £5 lotting fee per lot.
(e) Net Hammer Price paid 28 business days after the Date of Sale.
(g) 22% premium plus VAT payable by the Buyer is collected and retained by the auctioneer.
2. The Reserve
(a) Reserve shall not exceed the low estimate. Without agreed Reserve, Lots sell without Reserve.
(b) “Disc.” gives the Auctioneer approximately 10% leeway.
(e) We may bid on your Lot up to the Reserve. You may not bid on your own Lot.
3. Cataloguing and Estimates
We catalogue items as we see fit. Unsuitable items may be returned or disposed of. Estimates are guidance only.
4. Lots Withdrawn, Combined or Split
We may withdraw, divide or combine Lots at any time. If you withdraw, commission plus 25% buyer’s premium allowance is payable.
5. Seller's Obligations
You warrant: sole ownership; not a Forgery; full title guarantee; all relevant information provided; any concerns disclosed; export/import licences held; taxes paid; material alterations declared. You will indemnify us against all claims from breach.
6. Illustrations
We may photograph Lots for marketing. Illustration charge: £15 plus VAT per Lot, deducted from proceeds.
7. Risk; Loss Damage Warranty
We assume liability at the reserve price. Charge of 1.5% of hammer price plus VAT is deducted. If you opt out in writing, items remain at your risk.
8–10. Unsold, Withdrawn Lots & Forgeries
Unsold Lots: Added to After Sale List. Goods remaining after 10 days may be re-offered without reserve or disposed of. Storage fee £5/day after 30 days.
Withdrawn Lots: Collect within 30 days. Storage fee £5/day thereafter.
Forgeries: Sale cancelled and refunded if shown to be a Forgery within 21 days.
11–22. Additional Conditions
11. Complaints: Two-stage complaints handling procedure.
12. Liability: Limited to £5,000 (or £15,000/Hammer Price for Online Auctions).
13. Transport: We arrange transport; charges deducted from proceeds.
14. VAT: Charged on commission, premium and taxable services.
15. Artist’s Resale Rights: We may charge the vendor when applicable.
16. Client Account Interest: Retained by Bosvena Auctions.
17. Anti-Money Laundering: Due diligence required on all customers.
18. Picture Frames: No responsibility for damage accepted.
19. Electrical Items: Subject to safety controls; testing costs are your responsibility.
20. Soft Furnishings: Fire safety regulated; non-compliant goods not offered.
21. Settlement: Net sums paid within 28 working days by BACS.
22. General: English law applies.