Bidding: Bidding is at the rate shown by each lot e.g. 12 bottles, 6 magnums, per lot etc.
The bid increments vary based on the current winning bid.
Charges: As well as the hammer price, purchasers in wine auctions will pay to JSC a buyers’ premium of 12% (incl. VAT) to make up the final bid price. All other auctions, purchasers will incur a buyer's premium of 18% (incl. VAT).
Estimates: The prices quoted against each lot are intended as a guide only.
Commission Bids: Commission bids will be accepted and will be executed, without charge, on behalf of those unable to attend the auction. Lots will be bought at the lowest price permitted by other bids and reserves. We accept bids through our website, email, phone, letter or fax and must be received no later than 12 noon the day before the auction.
Telephone Bids: Prospective buyers may place bids by telephone, at their own risk and subject to availability and the lot having a guide price of no less than £75. Bids must be requested no later than 12 noon the day before the auction.
Offers: Lots are normally offered on one of the following terms: Duty Paid except where otherwise stated, all lots are offered duty paid and bidding is at duty paid prices. VAT: Buyers are liable to VAT at the current rate (20% currently) on the purchase price of all lots marked with an asterisk (*) unless otherwise stated. In Bond (Marked I.B.): Purchasers are responsible for duty, VAT, clearance, delivery etc. and all other charges applicable from the day of the auction.
Payment: Payment is due within 7 working days on receipt of invoice. J. Straker Chadwick & Sons (hereafter known as JSC) reserve the right to charge interest at a rate equal to 5% above the base rate of Natwest Bank PLC, per month, or part month (compound interest) on all overdue accounts.
Release and Non-collection: JSC will only release a buyers’ wine when full payment has been received. Any wines not collected within one month of receipt of invoice will be stored, at the purchaser’s risk, at a cost of £6 (incl. VAT) per lot, per week.
Delivery/ Collection: Purchasers using a courier/third party to collect and deliver their wine must make JSC aware who will be collecting their items and when. JSC will not release any wine until we have received written notice from the purchaser. JSC take no responsibility whatsoever for damage to any goods in transit, either before or after an auction. The risk of damage to goods in transit is the responsibility of the purchaser or vendor, who should make the appropriate insurance arrangements to cover carriage of their goods. The contract for carriage is between the purchaser or vendor and the courier.
Loss, Breakage Or Shortages: All lots are at the buyer’s risk once released from JSC’s premises.
Option: The buyer of the first lot of a run of similar lots will have the option to stand-on and purchase some or all of the remaining similar lots at the same bid price unless the Auctioneer directs otherwise.
Payment Types Accepted: JSC accept payment by cash, cheque or credit/debit card, excluding American Express. Please note, payment by credit cards and all business cards will incur a 2% surcharge.
Selling Fees: The vendor will receive the Hammer Price of the lots they place in an auction, less the Auctioneer's Commission. Wine commission is charged per lot @ 1st £1000 - 15% (incl. VAT) and £1001+ - 12% (incl. VAT). Minimum charge £8.40 per lot. Antiques and Furniture charged @ 18% (incl. VAT). Minimum charge £1.20 per lot. Late Withdrawal of lots from an auction will incur a 6% charge on the estimate of each item at the discretion of the Auctioneer.
Market Street Chambers
Tel: 01873 852624
Fax: 01873 857311
Monday to Friday
V.A.T Registration No. 134 6939 48