TERMS & CONDITIONS FOR THE SALE OF GOODS BY AUCTION OR PRIVATE TREATY

1.  Application of Terms & Conditions

1.1. These Terms & Conditions shall govern the auction and sale of Goods by the Auctioneer to the exclusion of any other Terms & Conditions. 

1.2. By choosing to participate in this sale by bidding on any lot(s), you are consenting to the application of these Terms & Conditions and agreeing to by bound by the same.

1.3. If you don’t accept these Terms & Conditions their entirety, you should refrain from completing the Registration process and placing any Bid(s).

1.4. Registration to Bid is considered as acceptance of these Terms & Conditions in their entirety. 

1.5. In the event of a conflict of terms between these Terms & Conditions and the Terms & Conditions of any associated Platforms, these Terms & Conditions shall prevail, but all other non-conflicting terms contained in the platform’s Terms & Conditions shall remain in force. 

2.  Interpretation 

2.1. In these Terms & Conditions, unless the context otherwise requires, the following expressions have the following meanings: 

“Account Holder" - Means the party registered as the account holder on the platform when you first register on the same.

Bidder, You”

“Auctioneer, Us, We”  Means Capital Asset Remarking Limited t/a Capital Asset Auctions, a company registered in England and Wales with registered company number 09411169 whose registered office is at Albany House, Temple Court, Temple Way, Coleshill, Warwickshire, B46 1HH. We are a certified auction house, accredited by ATG Media, authorising us to list on iBidder.com & BidSpotter.co.uk. 

“Business Day”    Means any day other than Saturday, Sunday or bank holiday. 

 “Bidder”               Means the Account Holder who bids on any auction lots of Goods for sale by the Auctioneer. 

“Buyer”                 Means an Account Holder who makes a Winning / Accepted Bid in respect of a lot. 

  “Contract”            Means the contract for the purchase and sale of the Goods which shall incorporate, and be subject to these ‘Terms & Conditions and our Important Sale Information’.

 “Goods”                Means the goods which the Auctioneer is selling in accordance with these Terms & Conditions. 

 “Lots”                    Means an auction lot for the sale of goods by the Auctioneer.

 “Platform”                      Means the auction platform / website maintained by a third party upon which Lots are listed by the Auctioneer, including iBidder.com and Bidspotter.co.uk.

 “VAT”             Means Value Added Tax, sometimes referred to as Sales Tax in some jurisdictions. 

 “Vendor”        Means the owner of Goods sold as part of a lot in an auction by the Auctioneer.

 “Winning / Accepting     Means the winning bid on a Lot, meaning either the highest bid or alternatively an underbid accepted by the Auctioneer at the Auctioneer’s sole 

"Bid”           Means discretion Both a winning bid and an accepted bid are binding offers open to acceptance by the auctioneer, to purchase the Goods on an applicable lot, so you should be aware that even if you’re not the highest bidder on a Lot, your maximum bid submitted may be accepted by the Auctioneer, Capital Asset Auctions reserve the right of a period of 48 hours after the hammer falls to confirm if your maximum bid submitted has been accepted, deemed successful. 

2.2  Unless the context otherwise requires, each reference in these Terms & Conditions to: 

1.  “writing”, and any cognate expression, including a reference to any communication effected by electronic or facsimile transmission or similar means. 

2.   A statute or a provision statute is a reference to that statute or provision as amended or re-enacted at the relevant time. 

3.  “These Terms & Conditions” is a reference to those Terms & Conditions and any Schedules as amended or supplemented at the relevant time. 

4.  A Schedule is a schedule to these Terms & Conditions. 

5.  A Clause or paragraph is a reference to a Clause of these Terms & Conditions (other than the schedules) or a paragraph of the relevant Schedule. 

6.  A “Party” or the “Parties” refer to the parties to these Terms & Conditions. 

2.3.  The headings used in these Terms & Conditions are for convenience only and shall have no effect upon the interpretation of these Terms & Conditions. 

2.4.  Words Imparting the singular number shall include the plural and vice versa. 

2.5.  References to any gender shall include the other gender. 

3.  Important Sale Information

3.1  Sales Address

Walton New Road Business Park, Geoff’s Drive, Upper Bruntingthorpe, Leicestershire, LE17 5RD (please note: Some Lots may be located elsewhere for collection - refer to the individual item summary for specific details.) 

3.2  Auctioneers Contact Details 

 Telephone: 0116 3214 301 

 Option 1: General Enquires

 Option 2: Sales 

 Option 3: Accounts 

 Option 4: Arrangements for Collection/Delivery 

 Option 5: Other Enquiries 

 3.3.  Email Enquires 

              info@capitalasset-auctions.co.uk 

 3.4  Sales Enquires 

               accounts@capitalasset-auctions.co.uk 

 3.5.  Website

                www.capitalasset-auctions.co.uk

 3.6.  How to Register 

 You can register through Capital Asset Auctions, iBidder.com, or BidSpotter.co.uk By creating a ‘Buyers Account’, you gain the ability to sigh up and bid on any sales featured on Capital Asset Auctions, iBidder.com, or BidSpotter.co.uk. 

3.7.   How to Bid 

3.7.1  For detailed guidance, refer to the instructional video available on our website. 

3.7.2  To begin, you must first register for the sale where the Lot(s) you are interested in are listed. Subsequently, you will be required to accept all of our ‘Terms & Conditions’ and ‘Important Sale Information’. 

3.7.3  Please be aware that, depending on your purchase history, your account may require manual approval by the Auctioneer. If this is necessary, you must directly contact the Auctioneer to obtain permission to bid. 

3.7.4. The Auctioneer may request additional information for verification purpose to approve your account. 

3.7.5. Once you have successfully registered for the sale by agreeing to all the bidding terms, you will be eligible to bid on any lot(s) including in the sale. Please note, when bidding on multiple lots, you are committing to purchase all lots you bid on. 

4.  Basis of Sale by Auction

4.1  The Auctioneer’s employees or agents are not authorised to make any representations concerning the Goods unless confirmed by the Auctioneer in writing. By bidding on a Lot, you expressly acknowledge that you do not rely on, and waive any claim for breach of, any such representations which are not so confirmed. 

4.2  No variation to these Terms & Conditions, shall be binding unless agreed in writing between the authorised representatives of the Bidder and the Auctioneer. 

4.3  Sales literature, price lists, listings, lots, and other documents issued or published by the Auctioneer or any associated platform in relation to the Goods are subject to alteration without notice and do not constitute offers to sell the Goods which are capable of acceptance. 

4.4  Any typographical, clerical or other accidental errors or omissions in any sales literature, auction listing, Lot, quotation, price list, acceptance of offer, invoice or other document or information issued by the Auctioneer shall be subject to correction without liability on the part of the Auctioneer. 

4.5  Illustrations, photographs or descriptions whether in catalogues, brochures, price lists, Lots, listings or other documents issued by the Auctioneer are intended as a guide only and shall not be binding on the Auctioneer. We reserve the right to utilise stock photography or library images. 

4.6  All sales featured are strictly trade only, with every lot being offered and sold under trade only terms. This means that all consumer protections, rules, regulations and cooling-off periods are not applicable to any sales listed. By registering on any platform, or bidding on any lot, you are expressly confirming that you do so as a trade entity and not as a consumer. 

4.7   Any bids placed are binding and attributed to you as the Account Holder and cannot be withdrawn once submitted. By placing a bid you are confirming that you are in a position to purchase the Goods for the price you have bid, plus any additional charges pursuant to these Terms & Conditions if you are selected as the ultimate buyer of such Goods by application of the Terms & Conditions. 

5.   Account Holder Responsibilities and Authorisation 

5.1   The Account Holder is responsible for all bidding activity associated with their Buyer’s Account. 

5.2   The Account Holder authorises the Auctioneer to update their Buyer’s Account with additional information, such as contact details, company data, and address information among others. 

5.3   By registering, the Account Holder warrants and confirms they are either a body corporate or trade entity, and in the case of sole traders, at least 18 years of age and a resident if the UK or Republic of Ireland., capable of entering the contractual obligations created by these Terms & Conditions.  

5.4   The Account Holder commits to completing the purchase of any lot(s) on which they have placed Winning bids / Accepted Bids before the auction concludes. 

5.5  The Auctioneer may request a copy of the Account Holder’s, or the Account Holder’s duly authorised officer, certificate of incorporation, drivers licence and / or a utility bill to verify the Account Holders identity and address, information for verification may also be requested by using AplyiD Biometrics.

6.   Lot Listing 

6.1   The Auctioneer provides an item summary for all listed lots. This information and all its contents are intended for guidance purposes only and should not be relied upon as definitely. 

6.2   The Auctioneer strongly urges all Account Holders who are prospective bidders to conduct their own due diligence on any Lots they are considering bidding on, before the auction concludes and making a bid. This includes investigating aspects such as mileage, condition, warranty, year of manufacture, service records, MOT history, and any other pertinent checks of the Goods, any such checks are prohibited after bidding or the end of the sale. 

6.3   It is the responsibility of the Account Holder to carry out such investigations prior to bidding on any Lot(s) of interest. Should any investigations occur after bids have been placed, the Auctioneer will dismiss the inquiry, and all bids will remain binding on the Account Holder. 

7.   Viewing and Inspection of Lots 

7.1   The Auctioneer recommends that all potential buyers view the Goods for sale on Lots listed within the auction to full ascertain their condition and specifications. 

7.2   Viewings are available strictly by appointment only. Contact details for the Auctioneer appear in the ‘Important Sales Information’ section 3 above. 

7.3   It is essential that viewing is completed before placing any bids on the Lots you are interested in and before the conclusion of the auction. Regrettably, viewings cannot be accommodated after this stage. 

7.4   The Auctioneer strongly encourages and welcomes inspections of any lots listed for sale. We invite assessments by the AA, RACm or any independent specialist on behalf of the Account Holder considering to bid. Inspections may be supervised, should be made prior to making a bid, and Goods cannot be driven on the public highway as part of an inspection as they may not leave the Auctioneers premises. 

7.5   As this is a trade only auction the Auctioneer does not provide a grading system for any lots listed, underscoring the importance of such inspections. 

7.6   Inspections must be arranged strictly by appointment and can only be facilitated when it is feasible for the Auctioneer. Whilst we will use reasonable endeavours to accommodate viewing requests, they can only be accommodated on working days and in normal working hours when we are available. Any inspections must also be conducted before the Account Holder commits to any bids and before the auction concludes. In the event the Account Holder elects to bid on a lot prior to inspection, they do so on the basis that they will not be permitted to retract such a bid at a later date, following inspection or otherwise. 

7.7 In the event you are unable to view a lot in person, or the Auctioneer is unable to offer a viewing at a time suitable to you, a video of the lot or alternatively a live video call may be arranged with the Auctioneer. Please note however, our inability to offer a video or video call is not a contractual basis to withdraw a bid. 

 9.    Lot Images 

 9.1   Images of lots are provided by the Auctioneer and our Vendors primarily for illustrative purposes. Therefore, they may not accurately reflect any lots true condition at the time of photography due to factors such as lighting, weather conditions, and camera quality. 

 9.2   To protect against fraudulent use, the majority of lot images will feature a Watermark & / or Logo Showroom Plates.

 9.3   Notwithstanding the use of watermarks, copyright and all other associated intellectual property rights in any images on Lots belong to the Auctioneer. No images may be reproduced or copied without the express written consent of the Auctioneer. In the event an image is reproduced or used without such express permission, the infringing party agree to pay the Auctioneer royalties, to be assessed at the Auctioneers sole discretion, in respect of the use of such images and authorises the Auctioneer to invoice them for the same. 

9.4   Please be aware that some lots in the auction may be represented with ‘Library Images’, Indicating that the images do not accurately depict the condition, features, or specification of the Goods in the Lot. Accordingly, Account Holders considering bidding on Lots should arrange inspections, in accordance with the provisions of section 7 above, to satisfy themselves of the exact nature and condition of Goods in Lots. 

10.   Auction Process

10.1   Auctions will be hosted on a Platform. 

10.2   Some of the Platforms used are not owned or controlled by the Auctioneer, and accordingly the Auctioneer is not responsible for their uptime, availability or functionality. 

10.3   Account Holders may bid on Lots for Goods in accordance with instructions on the Platform. 

10.4   The end time of an auction of Lot is automatically extended each time a bid is made (if the remaining time is less than 10 minuets, this is referred to as the ’10 Minute Bidding Rule’). Time can also be extended or shortened by the Auctioneer at any point, at its sole discretion, and all bids made remain valid and open for acceptance by the Auctioneer.  

11.   Winning Bids

11.1   The winner of a Lot will be determined by the Auctioneer at the conclusion of an auction. Typically, the winner of a Lot will be the highest bidder but the Auctioneer may elect to conclude the sale to an underbidder up to 48 hours following the fall of the hammer. Accordingly, Account Holders should be aware that even if they are out bid on a Lot, they may still yet have their bid accepted as a Winning / Accepted Bid. 

11.2   Should you successfully win any Lot in the sale, the Auctioneer will send you an invoice via both Email and Business WhatsApp Messenger in pdf format (when available).

12.   Provisional Bids 

12.1    If your bid on any Lot does not meet the reserve price, you authorise the Auctioneer to present your highest ’Submitted Bid’ to our Vendor(s) for consideration. 

12.2   Should the Vendor(s) accept your ‘Submitted Bid’ within 48 hours, you will receive an invoice, with a payment deadline set for 5pm on the following day. 

12.3   When bidding on any Lot(s), being the highest bidder is not a prerequisite for winning the item. The Auctioneer retains the discretion to present all bids to or Vendor(s) for consideration. Consequently, all bids placed by the Account Holder on single or multiple Lots remain valid for 48 hours following the conclusion of the sale. Account Holders are required to specifically bear this in mind when bidding on multiple Lots as they may become the Winning / Accepted Bid on multiple Lots. 

13.   Invoicing 

13.1   Upon conclusion of the sale for each Lot, the Account Holder will receive an invoice based on their successful bids. Invoices will be dispatched via both Email and Business WhatsApp Messenger in pdf format, where applicable. 

13.2   The Auctioneer will issue invoices in the following manner: 

13.2.1   Invoice ‘1 of 2’: This initial invoice covers the Lot(s) you have won / had bids accepted on, reflecting the ‘Hammer Price’ plus administration fee, currently £325 + VAT, chargeable of each Lot. 

13.2.2   Invoice ‘2 of 2’ is issued after the payment of the first invoice ‘1 of 2’ is received, this updated invoice will include any applicable ‘Buyers Premium Commission’ applicable ‘VAT’

14.   Buyer’s Premium Commission 

14.1   Each Lot attracts a ‘Buyer’s Premium Commission’ charged between 20-35% in addition to the ‘Hammer / Bid Price’, varying by lot. Please consult the ‘Additional Fees’ tab within or below the bidding box on each lot for specific ‘Additional Fees’. 

14.2   Buyers Premium Commission is displayed within the ‘Additional Fees’ tab as ‘Commission’ for clarity. 

15. Special Conditions

15.1 All lots are subject to a 20% + Vat "Special Conditions Charge" in addition to the standard Buyers Premium Commissio, Administartion Fee and Vat charged at the current U.K rate. 

Special Condition Charges are displayed within the 'Additional Fees' tab

16.   VAT Charges 

16.1   All ‘Buyer’s Premium Commission’, ’Storage Charges’, ‘Late Payment Fees’ & ‘Administration Charges’ attract VAT at the prevailing standard U.K rate.

16.2   VAT at the prevailing U.K rare applies to all Lots on the ‘Hammer Price’, though some Lots may fall under the Margin VAT Scheme. Account Holders should refer to the ‘Additional Fees’ tab for specifics regarding VAT applicability. In the event nothing is stated, Account Holders should assume that VAT at the prevailing U.K rate applies. 

17.   Payments and Payment Deadline 

17.1    All payments must be made via ‘Bank Transfer’ - Bank details will be supplied upon your payable invoice.

17.2    Buyers should use your invoice number as the payment reference. 

17.3    The Auctioneer sets a payment deadline for all Lots listed within the sale, with specific deadlines detailed in each ‘Item Description’. 

17.4    Late Payments: If the payment deadline is missed, a daily 3% + VAT ‘Late Payment Fee’ will be added to the Account Holder’s invoice. 

17.5    The ‘Late Payment Fee’ accrues daily, including weekends and Bank Holidays. 

18.    Storage

18.1    The Auctioneer reserves the right to charge a daily storage fee of £50 + VAT, charged 7 days per week, including weekends and Bank Holidays. 

18.2    Storage charges will be applied after 3 days after winning any item or Lots. (Be advised, should you invoice become overdue Capital Asset Auctions reserve the right to charge applicable storage from the date of purchase)

18.3    Storage fees are charged in a per Lot basis. If you win multiple lots, you will be charged multiple separate storage fees.

18.4    All storage fees must be settled in full, prior to release of any Lots for collection or delivery. 

18.5    The Auctioneer, at their sole discretion, reserves the right to re-offer uncollected Lots to recover any outstanding storage charges, but this shall be at the Auctioneers sole discretion.

18.6    Any uncollected Lots shall be immediately placed in storage and charges shall begin accruing. 

18.7    Any Lots left in storage and uncollected for a period of 3 months will automatically be deemed to have been abandoned by the Account Holder unless otherwise agreed with and confirmed by the Auctioneer in writing. 

19.    Risk and Retention of Title 

19.1   Risk of damage to or loss of the Goods shall pass to the Buyer at: 

19.2   In the case Goods to be delivered at the Auctioneers premises, the time when the Auctioneer notifies the Buyer that the Goods are available for collection; or 

19.2.1   In the case of Goods to be delivered otherwise than at the Auctioneer’s premises, the time of delivery or, if the Buyer wrongfully fails to make delivery of the Goods, the time when the Auctioneer has tendered delivery of the Goods.   

19.2.2   Notwithstanding delivery and the passing of risk in the Goods, or any other provision of these Terms & Conditions, legal and beneficial title of the Goods shall not pass not pass to the Buyer until the Auctioneer has received in cash or cleared funds payment in full of the price of Goods. 

19.2.3    Sub-Clause 18.2 notwithstanding, legal and beneficial title of the Goods shall not pass to the Buyer until the Auctioneer has received in cash or cleared funds payment in full of the Goods and any other Lots which the Buyer has won, and the Buyer has repaid all moneys owed to the Auctioneer, regardless of how such indebtedness arose. 

19.2.4   The Auctioneer reserves the right to repossess any Goods in which the Auctioneer, or the Vendor for whom the Auctioneer represents, retains title without notice. The Buyer irrevocably authorises the Auctioneer to enter the Buyer’s premises during normal business hours for the purpose of repossessing the Goods in which the Auctioneer, or Vendor, retains title. 

19.2.5   The Buyer’s right to possession of the Goods in which the Auctioneer, or the Vendor for whom the Auctioneer is selling the Goods, maintains legal and beneficial title shall terminate if: 

19.2.5.1   The Buyer commits or permits any material breach of his obligations under these Terms & Conditions;

19.2.5.2   The Buyer enters into a voluntary arrangement under Parts I or VIII of the Insolvency Act 1986, the Insolvent Partnership Order 1994 (as amended), or any other scheme or arrangement is made with his creditors; 

19.2.5.3   The Buyer is or becomes the subject of bankruptcy order or takes advantage of any other statutory provision for the relief of insolvent debtors; 

19.2.5.4   The Buyer convenes any meeting of its creditors, enters into voluntary or compulsory liquidation, has a receiver, manager, administrator or administrative receiver appointed in respect of its assets or undertaking or any part thereof, any documents are filed with the court for the appointment of an administrator in respect of the Buyer, notice of intention to appoint an administrator is given by the Buyer or any of its directors or by a qualifying floating charge-holder (as defined in paragraph 14 of Schedule B1 of the Insolvency Act 1986), a resolution is passed or petition presented to any court for the winding up of the Buyer or for the granting of an administration order in respect of the Buyer, or any proceedings are commenced relating to the insolvency or possible insolvency of the Buyer. 

19.2.5.5   Until all monies due in respect of all Lots that the Buyer has had a Winning / Accepted Bid have been paid to the Auctioneer, in full and in cleared funds, without offset or deduction, the Auctioneer is permitted to withhold delivery or collection of such Goods and shall retain a Lien over all Goods until the entire sums due to the Auctioneer are paid. 

20.    Buyer’s Default 

20.1   If the Buyer fails to make any payment on the due date then, without prejudice to any other right or remedy availability to the Auctioneer, the Auctioneer shall be entitled to: 

20.2   Suspend any further deliveries to or collections by the Buyer and exercise a Lien over Goods set out in clause 18.6 above; 

20.2.1   Appropriate any payment made by the Buyer to such of the Goods (or the goods supplied under any other contract between the Buyer and the Auctioneer) as the Auctioneer may think we fit (notwithstanding any purported appropriation by the Buyer); and 

20.2.2    Charge the Buyer interest (both before and after any judgement) on the amount unpaid, in accordance with 16.4 & 17.2, until payment in full is made (a part of a day being treated as a full day for the purpose of calculating interest).  

20.2.3    Issue legal proceedings or a statutory demand seeking payment of all sums due. 

20.3    This condition applies if: 

20.3.1    The Buyer fails to preform or observe any of its obligations hereunder or is otherwise in breach of contract;

20.3.2    The Buyer becomes subject to an administration order or enters into a voluntary arrangement under Parts I or VIII if the Insolvency Act 1986 or the Insolvent Partnership Order 1994 (as amended) or (being an individual or firm) becomes bankrupt or (being a company) goes into liquidation; 

20.3.3    An encumbrance takes possession, or a receiver is appointed, of any of the property or assets of the Buyer; 

20.3.4    The Buyer ceases, or threatens to cease, to carry on the business; or 

20.3.5    The Auctioneer reasonably apprehends that any of the events mentioned above is about to occur in relation to the Buyer and notifies the Buyer accordingly. 

20.4      If Sub-Clause 19.2 appears then, without prejudice to any other right or remedy available to the Auctioneer, the Auctioneer shall be entitled to cancel the sale or suspend any further collections by the buyer without any liability to the Buyer, and if the Goods have been delivered or collected but not paid for the price shall become immediately due and payable notwithstanding any previous agreements or arrangement to the contrary.

20.5     Whilst the terms of any release from an obligation to purchase remain solely at the Auctioneers discretion, such discretion will only be exercised upon payment, as a minimum, of all cancellation costs, including, but not limited to, Buyers Premium, auction re-entry fee and an administration charge. 

21.       Request to Cancel 

21.1    In normal course, a Bidder cannot seek to cancel a Bid. 

21.2    Notwithstanding 20.1 above, and at the Auctioneers sole discretion, the Auctioneer may choose to offer a Bidder seeking to cancel a Bid a cancellation option (‘Cancellation Option’). 

21.3    A Cancellation Option, if offered, will on be offered subject to the following: 

21.3.1   Payment of Cancellation Fee, charged at the rate of the Buyer’s Premium Commission (as shown within the Additional Fees Tab on a Lot); and 

21.3.2   Payment of a Re-Auction Fee of £150.00 + VAT; and 

21.3.3   Payment of an Administration Fee of £495.00 + VAT. 

21.3.4   Payment of any applicable Late Payment Charges (as above 16.4) & Storage Charges (as above 17.2). 

22.      Auctioneers Refund Guarantee Policy*: 

Lots listed within the sale maybe subject to a ‘Refund Guarantee*’ Where a full refund will be offered for the lot, Which will attract  an

           ‘Administration Fee’ charged at £495 +VAT

• *Any refund issued will have such charges as ‘Buyers Premium’ ‘Re-Auction Entry Fee’ ‘Delivery’ & ‘Administration Fee’ deducted from the refund amount.

• *Any ‘Auctioneers Refund Guarantee’ falls to the sole discretion of the Auctioneer.

23.  Limitation of Liability 

23.1    The following provisions set out the entire financial liability of the Auctioneer (including any liability for the acts or omissions of its employees, agents and sub-contractors) to the Buyer in respect of:

23.1.1    Any breach of these Terms & Conditions or the Contract;

23.1.2   Any use made (including but not limited to modifications) or resale by the Buyer of any of the Goods, or of any product incorporating any of the Goods; and 

23.1.3   Any representation, statement or tortious act or omission including negligence arising under or in connection with these Terms & Conditions.

23.2    All warranties, conditions and other terms implied by statute or common law (save for the conditions implied by section 12 of the Sale of Goods Act 1979) are, to the fullest extent permitted by law, excluded from the Contract.

23.3    Nothing in these Terms & Conditions excludes or limits the liability of the Auctioneer: 

23.3.1   For death or personal injury caused by the Auctioneer’s negligence;

23.3.2   For any matter which it would be illegal for the Auctioneer to exclude or attempt to exclude its liability; or 

23.3.3   For fraud or fraudulent misrepresentation.

23.4   Subject to sub-Clauses 21.2 and 21.3: 

23.4.1    The Auctioneer’s total liability in contract, tort (including negligence or breach of statutory duty), misrepresentation, restitution or otherwise, shall be limited to the hammer price; and

23.4.2    The Auctioneer shall not be liable to the Buyer for any pure economic loss, loss of profit, loss of business, depletion of goodwill or otherwise, in each case whether direct, indirect or consequential, or any claims for consequential compensation whatsoever (howsoever caused). 

24.      Communications

24.1   All notices under these Terms & Conditions and under the Contract shall be in writing and be deemed duly given if signed by, or on behalf of, a duly authorised officer of the Party giving the notice. 

24.2   Notices shall be deemed to have been duly given:

24.2.1    When delivered, if delivered by courier or other messenger (including registered mail) during the normal business hours of the recipient; or

24.2.2    When sent, if transmitted by facsimile or e-mail and a successful transmission report or return receipt is generated; or

24.2.3    On the fifth business day following mailing, if mailed by national ordinary mail, postage prepaid; or

24.2.4    On the tenth business day following mailing, if mailed by airmail, postage prepaid.

24.3    All notices under this Agreement shall be addressed to the most recent address, e-mail address, or facsimile number notified to the other Party.

24.4    The Parties expressly agree not to leave negative reviews or share negative publicity, on social media, or online generally, about the other, as an express condition of these Terms & Conditions. In the event of a breach of this term each Party hereto expressly agrees to immediately remove and redact any such review or publicity immediately upon request of the other, and in the event of a failure to do so, hereby expressly contractually waives any defence to a claim for damages for breach of the same. The Parties hereto agree that a genuine pre-estimate of damages for loss of business or damage to reputation shall start at £1,000.00 per week.

25.      Force Majeure

25.1   Neither Party shall be liable for any failure or delay in performing their obligations where such failure or delay results from any cause that is beyond the reasonable control of that Party.  Such causes include, but are not limited to: power failure, Internet Service Provider failure, industrial action, civil unrest, fire, flood, storms, earthquakes, acts of terrorism, acts of war, governmental action or any other event that is beyond the control of the Party in question.

26.       Waiver 

26.1   The Parties agree that no failure by either Party to enforce the performance of any provision in these Terms & Conditions shall constitute a waiver of the right to subsequently enforce that provision or any other provision.  Such failure shall not be deemed to be a waiver of any preceding or subsequent breach and shall not constitute a continuing waiver.

27.        Severance 

27.1    The Parties agree that, in the event that one or more of the provisions of these Terms & Conditions are found to be unlawful, invalid or otherwise unenforceable,that / those provisions shall be deemed severed from the remainder of these Terms & Conditions (and, by extension, the Contract).  The remainder of these and the Contract shall be valid and enforceable.

28.         Third Party Rights

28.1    A person who is not a party to the Contract shall have no rights under the Contract pursuant to the Contracts (Rights of Third Parties) Act 1999.

29.          Intellectual Property

29.1    Copyright and all other intellectual property rights in these Terms & Conditions vests in the Auctioneer who asserts all legal and moral rights in respect of the same.

29.2    In the event that the Auctioneer finds that an Account Holder or Bidder has copied or reproduced (in whole or in part) any of these Terms & Conditions for their own, or a third parties use, then the Parties hereto agree that the Auctioneer shall be entitled to damages from the infringing Account Holder or Bidder, equivalent to a licence fee to legitimately utilise such copyrighted works, which is currently £1,000.00 plus VAT per month or part thereof.

30.           Law and Jurisdiction

30.1   These Terms & Conditions (including any non-contractual matters and obligations arising therefrom or associated therewith) shall be governed by, and construed in accordance with, the laws of England and Wales.

30.2    Any dispute, controversy, proceedings or claim between the Parties relating to these Terms & Conditions (including any non-contractual matters and obligations arising therefrom or associated therewith) shall fall within the jurisdiction of the courts of England and Wales.

Capital Asset Auctions: Important Sale Information 

Welcome to Capital Asset Auctions. If you're considering participating in our sales or auctions, it's crucial to understand and agree to the full Terms & Conditions, including this Important Sale Information and any Special Conditions that may apply to certain lots. These terms are applicable to all lots listed, whether by auction or private treaty.

Please Read our Full Terms & Conditions as well as this Important Sale Information Carefully Before completing the Registration process and Bidding – the below is only a summary of some of the key points. 

Auctioneers Refund Guarantee Policy*: Lots listed within the sale maybe subject to a ‘Refund Guarantee*’ Where a full refund will be offered for the lot, Which will attract an ‘Administration Fee’ charged at £385+VAT

• * Any refund issued will have such charges as ‘Buyers Premium’ ‘Re-Auction Entry Fee’ ‘Delivery’ & ‘Administration Fee’ deducted from the refund amount.

• * Any ‘Auctioneers Refund Guarantee’ falls to the sole discretion of the Auctioneer.

Trade Only Sales: Our sales are strictly for trade participants, meaning all consumer rules, regulations, and cooling-off periods do NOT apply. By bidding, you affirm your participation as a trade entity.

Registration and Bidding: Register via Capital Asset Auctions, iBidder.com, or BidSpotter.co.uk. Full agreement to 'Terms & Conditions and Important Sale Information' and any 'Special Conditions' is mandatory for participation. Account approval may be manual, based on purchase history.

Account Holder Responsibilities: As the account holder, you are liable for all bidding activity. All sales are trade only. In the event you are not a limited company, you must be a trader aged over 18, and a UK resident, and capable of completing purchases for any lots you win before auction end.

Lot Listing and Conditions: Lot Information & Item Summary’s are for guidance only. Capital Asset Auction strongly advise for all bidders to conduct their own due diligence on all aspects of lots of interest before bidding.

Viewing and Inspection: Strongly advised before bidding. Viewings and inspections are by appointment only and must precede any bid on the lot(s) of interest. We welcome assessments by professional bodies on behalf of bidders.

Binding Bids: Once you submit a Bid, it's final and cannot be retracted.

Winning and Provisional Bids: Winning or provisional acceptance of your bid leads to invoicing via email and Business WhatsApp Messenger (where available), with a specified payment deadline.

Payments: Strictly by Bank Transfer with specific payment deadlines. 

No Cash / Debit or Credit Card, Finance, PayPal or any other method of payments are accepted. 

Collection or Delivery: Post-payment, collections are strictly by appointment. Assistance with delivery arrangements is available, though charges apply.

Buyer's Premium Commission: All lots are subject to an additional Buyer's Premium Commission. 

Administration Charge: All lots are subject to an administration charged at the rate of £385 Subject to VAT.

Special Conditions: All Lots are subject to a 20% + Vat "Special Condition Charge" in addition top the standard Buyers Premium Commission, Administartion Fee and Vat charged at the current U.K rate.  

VAT- Value Added Tax: All Lots & Charges are subject to VAT - Value Added Tax charged at the current U.K Rate of 20%, Including: Buyers Premium Commission, Special Conditions, Storage Charges, Late Payment Fees & Administration Charges.

Some Lots may be free from VAT - Value Added Tax, which means that lot will be sold “Margin VAT”

Storage: A daily storage fee of £50.00 plus VAT is charged starting from three days after an item is won, applicable every day including weekends and holidays. These fees are levied per individual lot. Before any lot can be collected or delivered, all storage fees must be paid in full. The auctioneer may choose to re-auction uncollected lots to recover unpaid storage fees. Uncollected lots are immediately placed into storage with charges accruing from day one. If a lot remains uncollected for three months after the date of purchase, it is considered abandoned unless a written agreement states otherwise.

Important Notices

Late Payments Fees: In the event of payment not being received in full before the payment deadline, A chargeable daily Late Payment Fee of 3% Subject to VAT will be applied across the Total Invoice Figure, Including weekends and Bank Holidays.

Be Advised, Should any invoice become overdue, Late Payment Fees will be applicable, As well as Storage Charges becoming chargeable from the date of purchase.

Cancellations: Cancellations are not generally allowed. In the event they are, at the auctioneers sole discretion, they will incur fees, and these will include cancellation fee (equal to Buyer's Premium Commission) re-auction fee, and administration fee.

Final Reminders: By participating, you acknowledge and accept our Terms & Conditions in full, including this Important Sale Information. Non-compliance or misunderstanding of these terms does not absolve you from the commitments made by Registering and bidding.

For complete terms, additional information, or to address any queries, please visit our website or reach out to us directly. We wish you a successful and informed bidding experience at Capital Asset Auctions.