The Conditions of Business
GENERAL
The following Conditions of Business (“Conditions”) apply to all sales by RM at auction to the exclusion of any other terms that the Buyer, the Seller, or any bidder seek to impose or incorporate, or which are implied by custom, practice, or course of dealing in the field of the sales at auction.
No alteration to the Conditions will be binding unless accepted by RM in writing. The Conditions are subject to amendment by RM by the posting of notices or by oral announcement made by the Auctioneer prior to or during the sale, provided it is reasonable for it to do so.
Participation in the sale implies acceptance of the Conditions.
DEFINITIONS
1. In these conditions:
1.1 “Auction” means the auction sale in respect of which a Lot is consigned for sale, as well as any other sale of mouvables according to applicable law.
1.2 “Auctioneer” means the person who will conduct the Auction.
1.3 “Buyer” means the person to whom a Lot is knocked down by the Auctioneer.
1.4 “Buyer’s Premium” shall have the meaning given in Condition 9.1.
1.5 “Catalogue” includes any advertisement, brochure, estimate, price list or other publication relating to one or more Lots.
1.6 “Expenses” in relation to the Auction of any Lot means RM’s charges and expenses including, but not limited to, insurance, storage, illustrations, photography costs, cataloguing costs, special advertising, packing and freight of that Lot and any VAt or other tax in lieu of VAT at the applicable rate.
1.7 “Hammer Price” means the price in the currency in which the Auction is conducted at which a Lot is knocked down by the Auctioneer to the Buyer.
1.8 “Lot” means any item(s) consigned with the view to its or their sale at Auction.
1.9 “Motor Vehicle” means any item included or proposed to be included in a sale of motor vehicles.
1.10 “Purchase Price” means the hammer Price together with the Buyer’s Premium and any VAT or other tax in lieu of VAT at the applicable rate, expenses and any additional charges due.
1.11 “Reserve” means the minimum hammer Price agreed between RM and the seller at which a Lot may be sold.
1.12 “RM” means RM Auctions Limited (co. no. 5812660).
1.13 “Sale Proceeds” means the net amount due to the seller being the hammer Price less the seller’s Commission, expenses and any other amount due to RM from the seller plus any VAT or other tax in lieu of VAT at the applicable rate.
1.14 “Seller” means the person who offers the Lot for sale.
1.15 “VAT” means Value Added tax applicable at the prevailing rate in France on the date of the Auction.
2. RM AS AGENT
Except where it is expressly stated to be selling as principal, RM sells as agent for the seller.
3. RM’S DISCRETION
3.1 RM has the right at its sole discretion to refuse any bid, to divide any Lot, to combine two or more Lots, to withdraw any Lot and, in the case of dispute, to put any lot up for Auction again.
3.2 If RM is notified about the seller’s alleged breach of any of the Conditions before it has remitted the sale Proceeds to the seller, it may at its sole discretion withhold payment until that dispute is resolved. RM may, however, deduct any sums that are due to it from the sum held.
4. LIABILITY
4.1 Nothing in these Conditions shall limit or exclude RM, Buyer or seller liability for death or personal injury caused by its negligence, or the negligence of its employees, agents or subcontractors (as applicable), fraud or fraudulent misrepresentation or for any matter in respect of which it would be unlawful to exclude or restrict liability.
4.2 Subject to Condition 4.1:
4.2.1 RM shall not be liable to the Buyer, the seller, any bidder or any other related person for any injury, damage or loss sustained by any person while on RM’s premises (including any premises where an Auction may be conducted or where a Lot or part of a Lot may be on view from time to time);
4.2.2 RM shall not be liable to the Buyer, the seller, any bidder or any other related person for any damage to or the loss or destruction of a Lot;
4.2.3 RM shall not be liable to the Buyer, the seller, any bidder or any other related person for any injury, damage or loss caused by any Lot;
4.2.4 RM shall under no circumstances whatever be liable to the Buyer, the seller, any bidder or to any other person, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with these Conditions;
4.2.5 RM’s total liability to the Buyer in respect of all losses, whether in contract, tort (including negligence), breach of statutory duty, or otherwise shall be limited to the aggregate of the Hammer Price of the relevant Lot and the Buyer’s Premium; and
4.2.6 RM’s total liability to the Seller in respect of all losses arising under or in connection with these Conditions, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall be limited to the Sale Proceeds of the Lot.
5. GOVERNING LAW
5.1 These Conditions (and any dispute or claim relating to them or their subject matter, their enforceability or their termination (including non-contractual claims)) are to be governed by and construed in accordance with French law.
5.2 The Tribunal of Grande Instance of Paris shall have jurisdiction to settle any claim, dispute or issue whether arising out of or in connection with Conditions or otherwise (including non-contractual claims).
6. NOTICES
6.1 Any notice by RM to a Seller, Buyer or any other person under or in connection with these Conditions may be delivered by hand or sent by first class mail and shall be deemed to have been received:
6.1.1 If hand-delivered, at the time of delivery;
6.1.2 If sent by mail, two days after the date of posting.
6.2 In proving service by delivery:
6.2.1 By hand, it shall be necessary only to produce a receipt for the notice signed by or on behalf of the addressee;
6.2.2 By post, it shall be necessary only to prove that the notice was contained in a pre-paid envelope which was duly addressed and posted first class
THE BUYER’S CONDITIONS
7. THE BUYER
7.1 The Buyer shall be the highest bidder. Any dispute as to any bid shall be settled by the Auctioneer at his absolute discretion.
7.2 Every bidder shall be deemed to act as principal unless prior to the commencement of the Auction there is a written acceptance by RM that a bidder acts as agent on behalf of the [named] principal.
7.3 No person shall be entitled to bid (whether in person, or via written, telephone or online bids) at the Auction without first having fully completed, signed and delivered to RM a bidder’s registration form, that is in a form acceptable to RM acting in its sole discretion, and RM must have allocated that person a registration number.
7.4 Bidders are responsible for all bids made with the registration number issued to them by RM.
7.5 RM has the right in its sole discretion to refuse admission to its premises or attendance at any Auction to any person who has defaulted on payment of an earlier purchase or in case of payment problems or other problems which are likely to jeopardize the smooth running and security of the Auction.
7.6 All bids submitted (whether in person, via the online bidding service, via telephone or via written bids) are final and bidders are not permitted to amend or retract bids. A contract of sale is made between the Seller and the Buyer on the acceptance of a bid by the fall of the Auctioneer’s hammer.
7.7 Due to factors beyond the control of RM, it is possible that one or more Lots described on its website or in the Catalogue may not be present at the Auction. Bidders are advised to check shortly before Auction time for updated information.
7.8 Bidders are responsible for making themselves aware of all saleroom notices and announcements.
8. BUYER’S PREMIUM
8.1 The Buyer shall pay RM an amount equal to 12% of the hammer Price for automotive lots and 17% for non-automotive lots including motorcycles and memorabilia or other items (“Buyer’s Premium”) together with VAt or any other tax in lieu of VAt at applicable rate on the Buyer’s Premium.
8.2 The Buyer acknowledges that RM may also receive the Seller’s Commission.
9. PAYMENT
9.1. RM is not a party to the contract of sale made between the Seller and the Buyer and has no liability for any act or default by the Seller or the Buyer.
9.2 Immediately a Lot is sold, the Buyer shall:
9.2.1 Give to RM his bidder registration number, his full name and address and, if so requested, proof of identity if he has not already done so; and 21.2.2 pay to RM the Purchase Price unless credit terms have been agreed with RM in writing before the Auction.
9.3 Full payment for all Lots must be made to RM by 5:00pm the next business day following the Auction. Payment must be made in the currency in which the Auction is conducted by wire transfer, unless other arrangements have been agreed by RM in advance. Where the Buyer wishes to pay by cheque (supported by a Bank Letter of Guarantee) and RM has agreed that the Buyer may do so, the Lot will not be released until the cheque has been cleared.
9.4 No Lot may be collected until the Purchase Price has been received by RM and payments by a Buyer to RM may be applied by RM towards any such sums due from that Buyer to RM on any account whatsoever notwithstanding any directions to the contrary by the Buyer or his agent whether express or implied.
9.5 Title to the Lot will pass to the Buyer when the Purchase Price in cleared funds has been received by RM.
9.6 Risk in the Lot shall pass to the Buyer on the Lot being knocked down by the Auctioneer to the Buyer notwithstanding that possession will not be given and title will not pass to the Buyer until the Purchase Price has been received in cleared funds by RM. With effect from passing of risk to the Buyer in accordance with these Conditions and subject to Condition 4.1, the Buyer shall indemnify and keep indemnified RM against all liabilities, costs, expenses, damages and losses suffered or incurred by RM in connection with any claim made against RM in respect of any loss or damage to the Lot or injury, loss or damage caused by the Lot.
10. REMOVAL OF PURCHASES
10.1 Immediately following the Auction, the Lot will be removed to a storage facility at the Buyer’s expense by a transport company designated by RM. The fee for this removal is compulsory and shall be outlined in the Catalogue.
10.2 It is the Buyer’s responsibility to arrange for collection and transport of the Lot from the storage facility but not before payment in full to RM of the Purchase Price whether in respect of this or any other Lot.
10.3 The Buyer shall be responsible for all removals, storage, insurance and other charges on any Lot, and accepts that the Lot will only be released after payment of the total amount due.
11. NON-PAYMENT OR FAILURE TO COLLECT
11.1 If the Purchase Price is not paid in full in accordance with these Conditions RM, as the agent of the Seller, shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or more of the following remedies:
11.1.1 To charge to any credit or debit card of the Buyer the Purchase Price and any interest and storage and removal costs up to the maximum limit of the credit or debit card (where applicable);
11.1.2 To charge the Buyer interest on the overdue amount at the rate of 8% per annum above the Bank of England’s base rate from time to time. Such interest shall accrue on a daily basis from the due date until actual payment of the overdue amount, whether before or after judgement. The Buyer shall pay the interest together with the overdue amount;
11.1.3 To remove, store (either at RM’s premises or elsewhere) and insure the Lot at the Buyer’s expense;
11.1.4 To retain that or any Lot sold to the same Buyer at the same or any other Auction and to release it only after payment of the total amount due;
11.1.5 To reject or disregard any bid or bids made by or on behalf of the Buyer at any future auction or to require payment of a deposit before any future bid made by or on behalf of that Buyer;
11.1.6 To apply any money due or to become due to the defaulting Buyer in or towards settlement of the total amount due and to exercise a charge or lien on any property of the Buyer which is in RM’s possession for any purpose.
11.2 If the Buyer fails to pay the purchase price within 14 days after the date and time referred to in Condition 10.3
11.3, RM shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or more of the following additional remedies:
11.2.1 To proceed against the Buyer for damages for breach of contract;
11.2.2 To cancel or declare void the sale of that or any other Lot sold to the Buyer at the same or any other auction notwithstanding the total amount due in respect of such other Lot shall have been paid;
11.2.3 To re-sell the Lot or cause it to be resold by auction or private treaty, and, if this results in a lower price being obtained, the defaulting Buyer shall then pay to RM, on demand, any deficiency, together with re-sale costs and any costs incurred in connection with the Buyer’s failure to make payment and any surplus shall belong to the Seller.
11.3 If the Lot is not taken away on the date and time referred to in Condition 10.3, whether or not the Purchase Price has been paid, RM shall remove, store (either at RM’s premises or elsewhere) and insure the Lot at the expense of the Buyer and only release the Lot after payment of the total amount due.
11.4 If the Buyer fails to collect the Lot within 28 days after the date and time referred to in Condition 10.3, RM shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or more of the following additional remedies:
11.4.1 To cancel or declare void the sale of the Lot;
11.4.2 To re-sell the Lot or cause it to be re-sold by auction or private treaty and to set off the total amount due in respect of that
Lot against the sale proceeds and any surplus shall belong to the defaulting Buyer.
12. BUYER RESPONSIBILITIES AND ACKNOWLEDGEMENTS
12.1 Buyers are solely responsible for ensuring that Motor Vehicles are safe for use, roadworthy and comply with all relevant laws and regulations in force in all relevant jurisdictions and for ensuring that any necessary test certificates are in force. Any reference in the Catalogue or other documentation to ‘mileage’ or ‘recorded mileage’ is based upon the Motor Vehicle’s mileometer reading and is not guaranteed to correspond with the actual distance covered by the Motor Vehicle. Buyers are solely responsible for satisfying themselves that the condition of the Motor Vehicle is commensurate with the mileometer reading. Electrical or mechanical items are not checked prior to sale and are purchased at the Buyer’s risk. It is the Buyer’s responsibility to inspect the Lot prior to bidding and satisfy himself as to the accuracy of its description in the Catalogue and, if necessary, arrange for an inspection to be carried out by a suitably qualified independent expert with regard to checking the ownership, attribution, authenticity, date, period, provenance, restoration condition and roadworthiness of the Lot. Any Motor Vehicle is sold as a collector item and not as a means of transport. Buyers are specifically advised that any Motor Vehicle sold as such may well have had parts replaced and paint renewed or be made up of parts from other vehicles the condition of which may be difficult to establish. RM has to rely on information as to date, condition and authenticity provided by Sellers and does not, and cannot, undertake its own inspection of Motor Vehicles or other Lots to establish whether the Motor Vehicle or other Lot conforms with the description in the Catalogue. It is the responsibility of the Buyer to carry out such inspection as he thinks necessary.
12.2 Buyers are solely responsible for ensuring that any Motor Vehicle purchased at Auction complies with the appropriate statute or regulation for driving, using or transporting it and for ensuring that any necessary test certificate is in force.
12.3 The Buyer shall be responsible for obtaining any export licence that may be required in connection with the Lot.
12.4 No warranty is given by RM as to the accuracy of the description of any Lot in any Catalogue or as to the age, authenticity, suitability, provenance, attribution, origin, condition, fitness for purpose, merchantable or satisfactory quality of any Lot or roadworthiness of any Motor Vehicle. Buyers are solely responsible for verifying any documents relating to any Motor Vehicle on which they wish to bid, prior to the Auction. All warranties, conditions and other terms implied by law are, to the fullest extent permitted by law, excluded from these Conditions.
12.5 In bidding for any Lot, the Buyer acknowledges that he does not rely on any representation, warranty or promise made to him by RM, its employees or agents unless such representation has been specifically confirmed by RM in writing prior to the Auction (statements in Catalogues do not qualify for this purpose).
13. CURRENCY CONVERSION
At some Auctions a currency converter may be operated. Errors may occur in the operation of the currency converter. Where these arise RM does not accept liability to bidders who follow the currency converter rather than the actual bidding in the saleroom.
