PFC Auctions Terms and Conditions of Sale

Submitting registration and/or placing a bid with PFC Auctions constitutes full acceptance of all the following conditions, bidding rules, and terms of sale.

  1. PFC Auctions reserves the right to postpone the auction for a reasonable period of time as the result of any significant event (ie An Act of God, etc). In this unlikely event, bidders and consignors will be notified of the new closing date.
  2. The auctioneer will have absolute discretion to divide any lot, to combine any two or more lots, or to withdraw any lots from the sale without giving any reason. The bidding shall be regulated at the absolute discretion of the auctioneer. The auctioneer has the right to refuse any bid or bids.
    • (a) All lots are offered for sale subject to any confidential reserve price that may be imposed by the seller.
    • (b) All lots have a Minimum Bid level. No bids will be accepted below these amounts.
  3. The highest bidder for each lot shall be the buyer thereof. In the event of any dispute the auctioneer shall have absolute discretion to determine the dispute and the disputed lot may well be re-offered for sale.
  4. You are obligated to honour any bid(s) you make, and no bids may be withdrawn at any time. There are no exceptions; failure to comply will also terminate all future bidding.
  5. The buyer of any lot shall, if requested, immediately notify his name and address to the auctioneer and if required, (a) provide bank/or other credit references; (b) pay the full purchase price, or a fractional deposit as may be determined at the discretion of the auctioneer.
  6. All lots are subject to a “BUYER’S PREMIUM”, payable by all buyers, at the following levels:
    • 20% up to £30,000 of hammer price
    • 17.5% from £30,001 to £100,000 of hammer price
    • 15% from £100,001 to £500,000 of hammer price
    • 10% from £500,001 upwards of hammer price
  7. Bidding commissions will be carried out by PFC Auctions without any additional charge. Bids must be in writing and be received at least 24 hours before the sale. “Buy” commissions will not be accepted. PFC Auctions shall not be liable for errors or omissions in executing any bidding commissions. We cannot guarantee to execute written bids received less than 24 hours before the commencement of the sale. If two absentee bidders bid identical sums for the same lot, the first bid received shall take precedence.
    • (a) Lots are sold as shown with all faults, imperfections and errors of description and lack of authenticity. Neither PFC Auctions nor the vendor shall give any warranty to any buyer in respect of any lot or be liable for any fault or error of description or lack of genuineness or authenticity of any lot. All statements as to items sold, whether made in catalogues, during the course of the auction or otherwise, are statements of opinion only and are not and shall not be taken to be statements or representations of fact. PFC Auctions reserve the right in forming their opinion to consult and rely upon any expert or authority considered by them to be reliable.
    • (b) Notwithstanding the foregoing, if any lot, other than a miscellaneous item not individually described in the catalogue, should be proved by the buyer to be not genuine or authentic, or to have been wrongly described in any material respect, the buyer may reject the same provided that he shall have given notice of his intention so to do and shall have returned the same to PFC Auctions within seven days from, and in the same condition as at, the date of sale. The onus of proving a lot to be not genuine or authentic or to have been so wrongly described shall lie with the buyer. Proof of the inability of any recognised expert or authority to express a definite opinion shall not discharge such onus. If the buyer shall discharge such onus, the auctioneers shall rescind the sale and repay to the buyer the price paid by him. Save as provided herein, PFC Auctions shall not under any circumstances whatsoever be liable for any costs, expenses or damages (whether direct, indirect, special or consequential) incurred by the buyer in respect of any lot, whether or not as a result of any fault, imperfection, error or description or lack of genuineness or authenticity, including but not limited to loss of any kind of profit whatsoever.
  8. Save as provided in the preceding paragraph of these conditions buyers must satisfy themselves as to the accuracy of their purchases at the time of delivery. PFC Auctions cannot be held responsible for any discrepancy which might be discovered after the lots have been removed from either the auction room or the auctioneers’ premises.
  9. PFC Auctions act solely as agents and shall not be responsible for any default by either the buyer or seller or for any action or claim which may arise in respect of any lot.
  10. Each lot shall be held at the buyer’s risk from the fall of the hammer. The lot or lots shall be removed by the buyer within seven working days after the date of the sale. PFC Auctions reserve the right to charge storage and to resell by auction or privately, without notice to the buyer, any lots not so removed. Storage charges shall be incurred at £5 per day (Oversized items), £2.50 per day (Standard sized items) and £1 per day (Small items less than 10kg).
  11. Any part of the purchase price left outstanding after the auction pursuant to Condition 8 shall be paid in full within thirty days of the date of the auction. Without prejudice to any other rights, PFC Auctions reserve the right to charge interest on any overdue payment at the rate of three per cent per month. Seven working days’ notice must be allowed for clearance of personal cheques before delivery can be made unless prior arrangements have been made with PFC Auctions. A 4% surcharge will be applied to credit card payments.
  12. Buyers accepting commissions from third parties do so at their own risk and will remain responsible to PFC Auctions for full settlement according to these conditions.
  13. Delivery of goods. On instruction from winning bidders PFC Auctions will obtain postage/packing/insurance quotes from Guernsey Post and Fedex, take payment for the winning bidders chosen delivery option (via PayPal plus 4% surcharge and any currency fees if applicable), and arrange delivery of the winning lots to the winning bidders chosen carrier in Guernsey. Please note PFC Auctions cannot be held responsible for delivery after the item has been delivered to the winning bidder’s chosen carrier.
  14. Local import tax. Payment of local import taxes, if applicable, will be the reponsibility of any winning bidder. Any UK based winning bidders will have the option of paying any import tax in advance (please advise PFC Auctions and we will obtain a quote at the time of dispatch), alternatively United Kingdom customs may require winning bidders to complete a full customs declaration for import of goods on their arrival in the UK.
  15. PFC Auctions are not responsible for any inaccuracies in information and results given verbally during, or after the auction nor any errors in reports subsequently produced.
  16. Payment shall be made in GBP Sterling by Bank/Wire transfer, details of which shall be included with your invoice. US/Canadian clients shall arrange payment of a Dollar amount to the exact equivalent of the GBP Sterling amount required. Please include your name and invoice number when sending instructions to the bank and inform PFC Auctions of your payment in order to speed-up the delivery of your purchases. GBP Sterling cash, bank drafts and personal cheques are also accepted. For bank transfers and cheque payments a charge of £10 must be added to the amount paid.GBP Sterling Credit Card payments are accepted up to £5,000 and will be processed through PayPal and are subject to a 4% surcharge. All winning bids must be paid in full within seven (7) days of the date of the invoice.
  17. Money Laundering Regulations. If your purchase amount is greater than £13,000 please send one document from List A and one Document from List B below with your order form. The Company and its agents reserve the right to request further documentation in respect of any applicant in order to satisfy their obligations to ensure adherence to Anti Money Laundering regulation and/or legislation. Each item must be less than three months old and should show your name and permanent residential address. Please note that statements printed via the internet are not acceptable. Original documents will be returned by post at your risk.
    • List A (Verification of Identity)
    • Driving Licence
    • Passport
    • Bank statement
    • Building society statement
    • The statement You provide must show transactions and relate to the Bank/Building Society account from which Your payment is drawn.
    • List B (Verification of Address)
    • Utility bill (but not a mobile telephone bill)
    • Council Tax bill (for the current year)
    • Benefits notification letter from the Benefits Agency confirming the right to benefits (e.g. child benefit, working families tax credit)
    • Original tax notification from HM Revenue & Customs.

     

  18. By making a bid the buyer acknowledges his/her acceptance of these Conditions and shall be bound by them.
  19. If any buyer fails to comply with any of these Conditions, the lot or lots in respect of which the failure is made may at the discretion of PFC Auctions be put up again and resold. The damages recoverable from the defaulting buyer shall include, but not be limited to, the auctioneers’ expenses and commission in respect of the resale and the amount (if any) by which the price obtained on the resale is exceeded by that obtained on the first sale.
  20. A variation of these Conditions shall only be binding on PFC Auctions and the vendor if it is made in writing and signed by a duly authorised representative of PFC Auctions.
  21. These Conditions shall take effect and be construed in accordance with the provisions of Guernsey law.