TERMS AND CONDITIONS
- Sale charges
All charges will be calculated on the following basis for EACH lot sold:-
Up to £500 – 10% + VAT
£501 – £2,500 – 5% + VAT
£2,501 upwards – 2% + VAT
Minimum Sale value – £50 per lot
CANCELLATION FEE – A cancellation fee of 2.5% + VAT of the reserve price will be charged if an item is withdrawn from sale once the sale goes live.
For example if a lot sells for £6,000, the commission would be as follows;
Up to £500 – 10% plus VAT – £50 plus VAT
£501 – £2,500 – 5% plus VAT – £100 plus VAT
£2,501 upwards – 2% plus VAT – £70 plus VAT
Total Commission – £220 plus VAT.
2. Buyer’s Premium
The sale of all lots will be subject to a Buyer’s Premium of 2% + VAT added to all purchases. A further 4% + VAT will be payable to i-bidder.com.
- Viewing of Lots for Sale
Items are kept on the Vendor’s own premises, Durrants will liaise with the Vendor and potential Purchaser to arrange a mutually convenient time for viewings.
Only good quality tyres with more than 70% tread will be accepted for sale.
- Electrical Items
All electrical items must be tested by a qualified electrician prior to the sale.
Please ensure that if you have entered a vehicle into the sale, the keys (clearly labelled), together with any relevant documents (log book showing the correct owner’s details and signed by the vendor, MOT certificate etc.) are ready to go with the vehicle when sold.
- Admission of Lots
The Auctioneers reserve the right to refuse entry to any item considered unsuitable for sale.
- Site Security
Security for item’s stored at the Vendor’s own premises will be the responsibility of the Vendor.
- CONFIRMATION OF OWNERSHIP: The vendor warrants to the Auctioneers and to the Purchaser:-
9.1 That he is the true owner of the Lot or is properly authorised to sell the Lot by the true owner.
9.2 Is able to transfer a good and marketable title to the lot free from any third party claims liens and encumbrances and that all entries on the entry form are correct.
9.3 That no Lot is subject to any hire purchase, lease, contract hire agreement or any other finance agreement or contract.
9.4 That the auctioneers have been notified in writing if any of the items on this form, or any continuation form, have been recorded by any insurance company as a write off or having been subject to a major insurance claim.
- TRADES DESCRIPTION ACT 1968: The vendor is reminded that under the terms of the Trades Description Act 1968 the Vendor of any Lot to which a false description is applied may be guilty of a criminal offence punishable by fine or imprisonment.
- Any interest accrued on monies held will be retained by Durrants. The proceeds of sale will be placed in our Auction Rooms Clients’ Account with Barclays Bank Plc, Norfolk Business and Agricultural Corporate Banking Centre, East Anglia Team, 3 St. James Court, Whitefriars, Norwich, NR3 1RJ.
- Payment will be made by bank transfer.
- Complaints – We operate a formal procedure in accordance with RICS guidelines. Full details are available on our website www.durrants.com
- General Data Protection Regulations