Cavendish Philatelic Auctions Ltd.

Terms and Conditions of Sale

1. Definitions

• "Agent" means any person who bids on behalf of a Principal, as defined in clause 6.3 of these Conditions.
• "this Auction" means the sale of the Lots described in this Catalogue on the date and starting at the time shown in this Catalogue.
• "Auctioneer" means the person or persons authorised by Cavendish to conduct this Auction from the rostrum on Cavendish's Premises.
• "Absentee-Bidder" means any person who is neither physically present nor represented by an Agent at this Auction and who places a bid or bids with Cavendish in respect of any Lot in accordance with these Conditions for the Auctioneer at this Auction to execute from the rostrum when the Lot to which the bid relates is offered for sale.
• "Bidder" means any person who submits a bid for any Lot offered for sale including any Absentee-Bidder and any Agent.
• "Buyer" means any Bidder (including any Absentee-Bidder) or the disclosed principal of any Agent who Cavendish accepts by the fall of the hammer as being the Buyer in respect of any Lot.
• "Buyer's Premium" shall mean 20% of the Hammer Price plus any value added tax payable in respect of the same.
• "Catalogue" means this catalogue together with its schedules and any documents annexed or referred to in this catalogue, whether reduced to writing or any other medium, including the world wide web.
• "Cavendish" means Cavendish Philatelic Auctions Limited (company number 01794161) whose registered office is at Cavendish House, 153-157 London Road, Derby, DE1 2SY.
• "Cavendish's Premises" means Cavendish House, 153-157 London Road, Derby, DE1 2SY or any other place stated in this Catalogue to be Cavendish's Premises for the purposes of these Conditions or any of them.
• "Conditions" means these terms and conditions together with any documents annexed to or referred to in these terms and conditions.
• "Extension" means the right of the Buyer to have time to obtain an expert opinion on the Lot after the date of this Auction.
• "Hammer Price" means the price at which a Lot is knocked down to the Buyer by the Auctioneer excluding the Buyer's Premium, any Value Added Tax or other applicable taxes and any costs and expenses which are payable by the Buyer in accordance with these Conditions.
• "Lot" or "Lots" means any item or items described under a lot number in this Catalogue.
• "Price" means the price payable by the Buyer in relation to a particular Lot, as specified in clause 10.2.
• "Registering" or "Register" or "Registered" means the allocation by Cavendish of a client code number to a Bidder.
• "Seller" means the person who instructs Cavendish to sell any Lot in this Auction.

2. Agency

2.1 Cavendish is in all cases agent for the Seller except in cases where this Catalogue states that Cavendish is the owner of all or part of any Lot. In all cases where Cavendish is the agent for the Seller, Cavendish is under no liability whatsoever to any person for any act, omission or default on the part of the Seller or the Buyer, unless expressly agreed otherwise [in writing] by Cavendish.
2.2 A contract for sale of any Lot in this Auction is made between the Seller and the Buyer upon the fall of the Auctioneer’s hammer in relation to that Lot.
2.3 All Bidders and Sellers acknowledge and accept that these Conditions are binding upon them and apply to any sale of any Lot in this Auction.
2.4 For the avoidance of doubt, these Conditions shall apply to the sale of any Lot by book Auction, where bids are only taken from Absentee-Bidders and to the sale of any Lot where bids are taken from Absentee-Bidders and Bidders who are present at Cavendish’s Premises.

3. Offer of lots

3.1 All Lots will be offered for sale using numbers appearing in this Catalogue at the start of the description of each Lot. The Lots will be offered for sale in strict numerical order, starting with the [lowest] Lot number first, unless otherwise announced by the Auctioneer before the first Lot in this Catalogue is offered for sale.
3.2 Cavendish shall have the right at any time and without notice to divide any Lot, join two or more Lots, or withdraw any Lot.

4. Description of Lots

4.1 All items in any Lot are sold with all faults and imperfections and errors of description. Illustrations in this Catalogue are for identification only. Bidders should satisfy themselves prior to this Auction as to the condition of each Lot. Any statement by Cavendish as to the Lot in this Catalogue or elsewhere is a statement of opinion only and each Bidder should rely on his or her own judgement as to all matters regarding the Lot.
4.2 Save as set out in clauses 11 and 14, the Seller, Cavendish, the Auctioneer and/or any of Cavendish’s employees, agents or servants are not responsible for any error in the description of any Lot or for the authenticity of any Lot or for any mis-statement as to any matter affecting the Lot. The Seller, Cavendish, the Auctioneer and/or Cavendish’s employees, agents and servants do not make or give any warranty or representation in respect of any Lot. All implied conditions or warranties are expressly excluded.

5. Intellectual Property

5.1 The copyright and all other intellectual and proprietary rights in any descriptions, illustrations, photographs or other material relating to any Lot is the absolute property of Cavendish and no person shall be entitled to copy or use the same without the express prior written permission of Cavendish.
5.2 The Buyer acknowledges and accepts that Cavendish is entitled to use any photographs, illustrations and/or descriptions of any Lot which the Buyer has purchased as Cavendish sees fit and whether or not in relation to this Auction.

6. Bidding

6.1 Cavendish may at any time and in its absolute discretion, refuse to accept any bid from a Bidder who has not complied with the conditions in clause 9.
6.2 Subject to clause 9, Cavendish may accept bids from: Absentee Bidders by post, telephone, e-mail, fax or by any other means acceptable to Cavendish from time to time in its absolute discretion; and from Bidders who are present at this Auction, at any time before a Buyer for a particular Lot is accepted. Cavendish accepts no responsibility or liability in respect of the receipt or otherwise of any bids given by Absentee Bidders and any Absentee Bidder is advised to confirm in writing any bid given by telephone before this Auction.
6.3 Any Bidder at this Auction will be deemed to be bidding on his or her own behalf and will be held personally liable for that bid unless Cavendish has previously agreed in writing that any Bidder bids on behalf of a disclosed third party ("Principal") who is acceptable to Cavendish. In the latter circumstance, the Bidder shall act as Agent on behalf of the Principal and the Agent and Principal shall be jointly and severally liable for the bid.
6.4 Cavendish may advance the bidding for any Lot in steps fixed in the Auctioneer’s absolute discretion whether or not those steps are different from those indicated by Cavendish in this Catalogue or elsewhere.
6.5 Any dispute as to who is the Buyer of any particular Lot shall be settled by Cavendish in its absolute discretion.
6.6 Without prejudice to the generality of clause 6.5, the Auctioneer may at any time before the Buyer for a particular Lot is accepted in his or her absolute discretion:
(a)reject any bid at any time without assigning any reason for so doing; or
(b) in the event of a dispute between Bidders, or a mistake made by Cavendish before or during this Auction, either continue the bidding for the Lot or stop the bidding and offer the Lot for auction again. If any Lot is offered for Auction again, all previous bids shall cease to apply, provided always that the Auctioneer may in his or her absolute discretion re-execute any bids from Absentee-Bidders.

7. Tied Bidders

If two or more Absentee-Bidders bid the same price for a particular Lot and that price is the highest bid received by Cavendish in respect of that Lot, then without prejudice to clause 6 and to Cavendish’s ultimate discretion in relation to any Lot, Cavendish shall knock down the Lot to the Absentee-Bidder from whom such bid was first received by a duly authorised representative of Cavendish at Cavendish’s Premises.

8. Liability of Cavendish

8.1 Save as set out in clauses 11 and 14, Cavendish gives no warranties or guarantees to any Bidder and any implied warranties or conditions are excluded to the maximum extent permitted by law. In particular, Cavendish excludes all liability and/or responsibility in any way to any Bidder for any loss or damage directly or indirectly as a result of: any representation, description, report or valuation in relation to the quality or authenticity or value of any Lot; or any error or omission (including any negligence) on the part of Cavendish or any of its employees, agents or subcontractors; or any other loss or damage arising from these Conditions, this Catalogue, the sale and purchase of any Lot or otherwise.
8.2 Without prejudice to the generality of clause 8.1, every person who enters Cavendish’s Premises at any time is deemed to enter at his or her own risk and with notice of the condition of Cavendish’s Premises and their contents. Accordingly, to the maximum extent permitted by law, Cavendish excludes all responsibility or liability to any person for any injury sustained or accident which occurs on Cavendish’s premises.
8.3 To the extent that Cavendish is found liable to any Bidder, such liability shall be limited to the Hammer Price and the Buyer’s Premium.

9. Requirements of the Bidder before bidding

9.1 Any Bidder at this Auction must Register before it will be permitted to bid.
9.2 Cavendish may in its absolute discretion refuse to Register any Bidder (including any Absentee Bidder) if that Bidder fails to provide to Cavendish:-
(a) upon request proof of identity and in a manner suitable to Cavendish; and/or
(b) in the case of an Agent and upon request, the identity of the Principal and proof that the Agent has authority to act on behalf of the Principal; and/or
(c) at least five working days before any Bidder intends to bid, such credit references as Cavendish requires in a manner suitable to Cavendish.
9.3 Cavendish has the right to ask any Bidder at the time of Registering to specify the numbers of the Lot or Lots for which he or she intends to bid. Cavendish may, in respect of those Lots, require the Bidder to pay to Cavendish a cash deposit of an amount to be set by Cavendish in its absolute discretion, which must be paid by the Bidder before the Bidder is entitled to bid in this Auction.

10. Price to be paid

10.1 No Lot will be sold below 66% of the estimate appearing in this Catalogue ("the Reserve") unless Cavendish is instructed otherwise by the Seller and the Auctioneer announces prior to the commencement of the bidding on any Lot that there is a lower Reserve or no Reserve in relation to that particular Lot, subject always to the Auctioneer's ultimate discretion to sell a particular Lot below the Reserve.
10.2 Without prejudice to clause 10.1 the total price to be paid by the Buyer in respect of any Lot ("the Price") shall be: (a) the Hammer Price; and (b) the Buyer's Premium; and (c) any VAT payable by law on the Hammer Price and the Buyer's Premium; (d) all money transmission charges, including credit card charges which are payable in relation to that Lot in addition to the Price; (e) any other charges, fees, costs, expenses and interest which are payable by the Buyer to Cavendish in accordance with these Conditions.
10.3 Those Lots in respect of which VAT is payable are marked with * or ** or # # in this Catalogue. Any Lot with the symbol:- (a) # # indicates the presence of postally valid mint stamps and attracts VAT at the Standard Rate only if the Hammer Price exceeds the face value, such VAT payable on the difference between the Hammer Price and the face value; or (b) * attracts VAT at the Standard Rate; or (c) ** attracts VAT at the Temporary Import rate.
10.4 Subject to clauses 10.5 and 10.6 the Buyer shall pay the Price for any Lot it has purchased in full within 1 hour of the end of the relevant day of this Auction in which the Auctioneer knocks down the Lot to the Buyer.
10.5 Any Absentee-Bidder who purchases a Lot shall pay the Price for that Lot within 14 calendar days of the date of Cavendish's invoice in respect of the same.
10.6 Cavendish may, in its absolute discretion, agree in writing with any Bidder no later than 48 hours prior to the commencement of this Auction, that such Bidder may have an extension of time to pay the Price for any Lot that it purchases.
10.7 Without prejudice to clause 15, title in and to the items in any Lot shall not pass to the Buyer until the Buyer has paid the Price for any Lot it has purchased in accordance with this clause 10.
10.8 Agents for Buyers must note their liability under the provisions of clause 6.3 of these Conditions..

11. Return of lots

11.1 Subject to clause 11.2, any Lot may be returned by the Buyer within 14 calendar days of the date of this Auction if:-
(a) the Buyer was an Absentee Bidder in respect of that Lot; and
(b) the Buyer did not inspect the Lot personally and no other person inspected the Lot on behalf of the Buyer at any time prior to the sale of the Lot; and
(c) the description of the Lot in this Catalogue is incorrect in a material way; and
(d) the Lot does not consist of more than three items.
11.2 Clause 11.1 shall not apply in respect of any Lot if in the Catalogue the description of that Lot contains, or a photograph of that Lot indicates, a description, general or otherwise, of faults or defects in that Lot.
11.3 If the Buyer exercises his or her right to return any Lot pursuant to this clause 11, Cavendish shall refund to the Buyer the Hammer Price and the Buyer’s Premium plus any Value Added Tax paid by the Buyer in respect of the Lot. Cavendish shall have no further liability to the Buyer in respect of that Lot whatsoever.
11.4 The benefit of this clause 11 is not assignable and as such can be exercised only by the Buyer, being the person who paid the Price to Cavendish.

12. Failure by the Buyer to pay the Price

12.1 If any Buyer fails to pay the Price for any Lot in accordance with clause 10 Cavendish shall be entitled to:-
(a) charge the Buyer interest on the amount unpaid at Cavendish’s current rate from time to time for each period of 30 calendar days from the due date until the date payment is received in full in either cash or cleared funds by Cavendish; and/or
(b) re-offer the Lot immediately for resale and in such circumstances the Buyer shall not be entitled to bid in respect of that or any other Lot in this Auction; and/or
(c) sell the Lot by any means it considers appropriate in its absolute discretion; and/or
(d) exercise a lien over any goods of the Buyer (including the Lot concerned) until all outstanding payments have been received in full by the Buyer.
(e) refuse the Buyer the right to bid in any future auction irrespective of whether previous defaults have been settled. The Buyer consents to Cavendish disclosing details of such default to other auctioneers and live bidding platforms, including the name and address of the Buyer and the nature and date of the default. Auctioneers or live bidding platforms receiving details of the default may rely on such information when deciding whether to enter into a transaction with the Buyer in the future.
12.2 If Cavendish exercises its right, pursuant to clause 12.1(b), the Buyer shall compensate Cavendish for the difference between the Price due from the Buyer and the Net Price it receives upon re-sale to a third party. The Net Price shall mean the price received by Cavendish upon re-sale to a third party less the commission due to Cavendish and all costs and expenses incurred by Cavendish in relation to such re-sale.
12.3 The Buyer shall compensate Cavendish fully for all charges incurred by Cavendish on cheques and other instruments of payment that are returned unpaid or that are returned for any other reason and in addition the Buyer shall pay Cavendish an administrative charge of £25 plus VAT in respect of each event of non-payment.

13. Collection and delivery of Lots

13.1 Subject to clause 13.2, the Buyer shall collect the Lot from Cavendish’s Premises within 2 working days of the date of this Auction.
13.2 Any Absentee Bidder who is the Buyer of a Lot shall be entitled to arrange for the delivery of the Lot by Cavendish to the Buyer’s premises, provided that it accounts to Cavendish for all costs and expenses incurred by Cavendish in relation to the packing, handling, transport and insurance of that Lot during delivery. The Buyer shall account to Cavendish for such costs and expenses within 14 calendar days of the date of Cavendish’s invoice in respect of the same.
13.3 If the Buyer fails to collect any Lot from Cavendish’s premises in accordance with clause 13.1 Cavendish reserves the right to charge the Buyer storage charges at Cavendish’s rates from time to time.
13.4 If the Buyer fails to collect any Lot from Cavendish’s premises within 6 months of the date of the Auction, Cavendish reserves the right to re-sell the Lot in accordance with clauses 12.1 (b) or (c) and in such circumstances Cavendish shall account to the Buyer for the proceeds of sale less commission due to Cavendish and all costs and expenses incurred by Cavendish in relation to such sale.

14. Extension

14.1 A Buyer is entitled to an Extension in respect of any Lot if:-
(a) The Buyer notifies Cavendish at least 2 working days prior to this Auction that it intends to apply for an Extension; and
(b) the Buyer demonstrates beyond all reasonable doubt that the Lot is not genuine and/or that it does not match the description or correspond with the photograph in the Catalogue in a material way; and
(c) the Buyer returns the Lot to Cavendish within 14 calendar days of the date of this Auction or such other period as is agreed between the Buyer and Cavendish.
14.2 The Buyer shall be entitled to request that Cavendish refers the Lot to an expert approved in advance in writing by Cavendish for that expert's opinion in order to satisfy the seller 14.1(b). The costs of that expert shall be paid for by the Buyer, unless the Buyer satisfies all of the requirements in this clause 14, in which case the costs of the expert shall be paid for by the Seller.
14.3 The Buyer's right to an Extension shall not apply if:-
(a) The Buyer has wholly or partly immersed the Lot in water, or any other chemicals or has otherwise treated it; and/or
(b) the Lot comprises a collection, or 3 or more stamps and/or covers and/or items which are not separately described in this Catalogue, unless the Buyer satisfies Cavendish at least 48 hours prior to the commencement of this Auction that any such collection, stamps, covers and/or items warrant separate description in this Catalogue ("Items"). In such circumstances, the Buyer so satisfying Cavendish shall have the right to an Extension in relation to the Items only; and/or
(c) the Lot is illustrated in this Catalogue and the Buyer attempts to reject the Lot on the grounds of cancellation, centering, margins, perforation or any other characteristics which are reasonably identifiable from the illustration.
14.4 If the Buyer exercises his or her right to return any Lot pursuant to this clause 14, Cavendish shall refund to the Buyer the Hammer Price and the Buyer’s Premium plus any Value Added Tax paid by the Buyer in respect of the Lot. Cavendish shall have no further liability to the Buyer in respect of that Lot whatsoever.

15. Risks after sale

15.1 All risks in and to all items in any Lot in this Auction shall pass to the Buyer at the moment actual possession of the Lot is taken by the Buyer in accordance with clause 15.2.
15.2 Actual possession is taken when:
(a) Cavendish physically hands over the Lot to the Buyer or the Buyer’s agent; or
(b) Cavendish, at the request of the Buyer, arranges for the transport of and dispatches the Lot from Cavendish’s Premises to the Buyer or to the Buyer’s agent; or
(c) Cavendish dispatches the Lot from Cavendish’s Premises to the expert approved in advance by Cavendish in accordance with clause 14 and in this case risk in that Lot remains with the Buyer until the Lot is returned to Cavendish’s Premises.

16. Applicable law

These Conditions shall be governed by and construed and interpreted in accordance with English law and the parties agree to submit to the exclusive jurisdiction of the English courts.

17. Headings

Headings shall not affect the interpretation or meaning of the Conditions and are included only for convenience.

Cavendish Philatelic Auctions Ltd.