Leading Specialist Auctioneers of Sporting Memorabilia. Auctions held at Sotheby's New Bond Street Saleroom, London.
IMPORTANT INFORMATION FOR BIDDERS & BUYERS
Conditions of Business
All lots are offered subject to Graham Budd Auctions Ltd's Conditions of Business which you can view here.
Estimates and Reserves
Estimates are published as a guide only and are subject to review. The actual hammer price of a lot may be higher or lower than the range of figures given and there are no predetermined starting prices. Estimates can be subject to revision in which case a saleroom notice will be posted. The estimates are exclusive of buyer’s premium and VAT.
All lots are subject to reserves. The reserve price is never set higher than the low pre-sale estimate.
Buyer’s Premium & VAT
A buyer’s premium (BP) of 17.5% is applicable to all lots in this sale when bidding is conducted directly with Graham Budd Auctions either in the room or by absentee or telephone bidding.
The majority of lots in the auction are offered under the Auctioneer’s Margin Scheme (AMS) and as such BP is subject to VAT (currently set at a rate of 20% in the UK). Lots offered under AMS are marked in the printed catalogue with a * symbol after the estimate. The invoice total for AMS lots will be therefore be the hammer price + 21% inclusive of VAT.
Under VAT rules some lots are deemed to be zero rated (ZR) for VAT purposes, such as books, programmes, magazines, newspapers etc. ZR lots are marked in the catalogue with a ** symbol after the estimate. The invoice total for ZR lots will be therefore be the hammer price + 17.5%.
On very rare occasions some lots are offered under normal VAT rules and VAT will be charged at 20% (the current rate) on both the hammer price and BP. These lots are marked in the catalogue with a † “dagger” symbol. The invoice total for a “daggered” lot will therefore be the hammer price + 41% inclusive of VAT.
VAT in respect of non-EU buyers
If a non-European Union (EU) buyer instructs the auctioneer to export a purchased lot outside of the EU, then the auctioneer can demonstrate proof of export and is thereby authorised to remove the VAT from the buyer’s invoice. If however the buyer is handling the export in person or through an instructed shipper outside the control of the auctioneer, the VAT will have to be paid and then reclaimed by the buyer or the buyer’s shipper at the port of departure. Buyers are reminded that it is their responsibility to comply with UK export regulations and with any local import requirements.
When using one of the four internet bidding platforms available for sales at Graham Budd Auctions please note that additional fees will apply. This varies between 3% and 5% (+ vat where applicable) of the hammer price depending on the provider as follows:
www.the-saleroom.com 3% = 20.5% in total
www.proxibid.com 3% = 20.5% in total
www.invaluable.com 5% = 22.5% in total
www.liveauctioneers.com 5% = 22.5% in total
On each bidding platform any VAT that will be applied to an invoice total in addition to the buyer’s premium will be declared at a lot-by-lot level.
Artist's Resale Rights
Some lots may be subject to artist's resale rights and will have a special symbol printed in the catalogue or a statement will be made if viewing an online version. Purchase of these lots will be subject to the payment of an Artist's Resale Right, at a percentage of the hammer price calculated as follow:
Portion of the hammer price (in Euros) Royalty Rate
Under 1,000 Nil
For further information on Artist's Resale Rights see Design and Artists Copyright Society (DACS) website www.dacs.org.uk
Auction & Exhibition venue
Our sales are held at Sotheby’s auction room, 34-35 New Bond Street, London, W1A 2AA. Our auctions are also on public view prior to and for the duration of the auction. Full details are published in the printed catalogue and online.
All prospective bidders are encouraged to attend the exhibition and view lots in person. If this is not possible, however, we will be pleased to provide condition reports on lots where practical. All condition reports are provided in good faith. Buyers are reminded that it is their responsibility to satisfy themselves over the condition of lots (refer to Conditions of Business paragraphs 3 a & b).
Bidding in Person
To bid with us you must register to obtain a bidding number. Before the auction, fill in the form at the registration desk, provide proof of identity and you will be given a paddle number. All lots sold will be invoiced to the name and address in which the paddle has been registered and may not be transferred to other names and addresses. If you instruct an agent to bid on your behalf you will need to provide a letter of authority and they will also need to provide proof of identity. Graham Budd Auctions reserves the right to refuse. Please hand back the paddle after use.
Graham Budd Auctions Ltd will be pleased to execute bids on behalf of those clients unable to attend the sale in person. When registering an account at our website the client can then submit and mange bids online. Otherwise all bids must be submitted in writing or by email to the auctioneer in good time before the sale. The maximum bid limit will need to be declared but lot will always be purchased as inexpensively as possible, depending on competition from other bidders and the reserve price.
Graham Budd Auctions offer a telephone bidding service, but subject always to the availability of lines & staffing. These services are offered free of charge and are subject to our Conditions of Business.
Credit Card Registration for Internet Bidding
There is a choice of four platforms for internet bidding and details and fees can be seen above. In completing the bidder registration at any of these platforms you will be required to provide your credit card details. If you are a successful bidder you do not have to use the registered card as your method of payment (a full list of payment methods follow). However, if you do not advise the auctioneer of an alternative payment arrangement by registering your card at the internet bidding platform you authorise Graham Budd Auctions Ltd, if they so wish, to charge the credit card given in part or full payment, including all fees, for items successfully purchased online at the auction. By registering you also confirm that you are authorised to provide these credit card details to Graham Budd Auctions Ltd and agree that Graham Budd Auctions Ltd are entitled to ship the goods to the card holder name and card holder address provided in fulfilment of the sale
Methods of Payment
Payment is due in sterling immediately upon the issue of the invoice. In all cases and without exception purchases cannot be released until the auctioneer is in receipt of cleared funds.
Graham Budd Auctions Ltd welcome the following Methods of Payment:
Electronic transfer sent directly to our bank
Contact the auctioneers for details.
Online payment with STRIPE
Clients who register an account with Graham Budd Auctions at our website can take advantage of paying securely and free online with STRIPE.
Payment can be made by Paypal but is subject to Paypal’s fee of 3.4%.
We are pleased to accept card payments by Visa, Mastercard and American Express. Payments by credit card will incur a surcharge of 3% of the transaction total. There is no charge for payments made by debit card.
Sterling Bankers Draft or Building Society Cheque
Drawn on a recognised UK bank or building society. Please note that we require seven days to clear sterling cheques where the amount exceeds the cheque card guarantee limit, unless special arrangements have been made with the auctioneer in advance of the sale, normally the presentation of a letter of guarantee from your bank. We always reserve the right to hold goods until a cheque is cleared.
Cash payments will not be accepted above £6,000.
STORAGE, COLLECTION AND SHIPPING LOGISTICS
Payments in person can be made in the saleroom on the day of the auction and on receipt of cleared funds, lots can be collected from the saleroom during the auction or immediately after its completion.
Thereafter, all purchase lots will be transferred to Graham Budd Auctions' storage facility in Enfield, north London. Please contact the auctioneer for full details. All collections are strictly by pre-arranged appointment. Alternatively, we can organise packing for postage and shipping on a worldwide basis. Please contact us for a quote. Buyers are reminded that it is their responsibility to comply with UK export regulations and with any local import requirements.