Silverstone Auctions - Silverstone Classic Race Car Sale 2018 19th July 2018

have been damaged or poorly repaired. Given the age of some Lots, no assumption should be made with regard to any aspect of their condition. 5.6 Any person who physically interferes with, scratches or damages the Lot in any way (at, before or after the Auction) will be held liable for the loss so caused. 5.7 The Seller is responsible for delivering the Lot in a presentable and saleable condition. If additional cleaning is required it will be charged for by SAL to the Seller as an Expense. 5.8 If a Lot is not sold at Auction, SAL will for the next 14 days be entitled exclusively to negotiate a sale of the Lot on terms agreed with the Seller and as Seller’s agent, and if successful will be entitled to charge the Seller’s Commission and Expenses. 5.9 The Seller gives SAL the full and absolute right to photograph and illustrate any Lot consigned for sale, and to use such photographs and illustrations as are provided by the Seller at any time at its absolute discretion (whether or not in connection with the Auction), with indemnity against copyright infringement. 5.10 The copyright in all written matter and illustrations relating to Lots shall remain at all times the absolute property of SAL, and any person wishing to use such materials, or any part of them, may only do so with the prior written consent of SAL. 5.11 Lots market with an Asterix (*) are either owned or partly owned by SAL or an employee of SAL. 6. Alterations and Estimates 6.1 Estimates and descriptions may be amended at SAL’s discretion from time to time by notice given orally or in writing before or during an Auction. 6.2 The Lot is available for inspection and any potential bidders must form their own opinion in relation to it. They are strongly advised to examine any Lot or have it examined by a specialist or engineer on their behalf before the Auction. 6.3 SAL gives no warranty or representation as to the anticipated or likely selling price of any Lot. Any estimate given, whether written or oral and whether or not printed in any Catalogue, as to the estimated selling price of any Lot is a statement of opinion only and may be subject to revision from time to time at SAL’s sole discretion and should not be relied upon as an indication of the actual selling price. 6.4 SAL shall not be liable to the Seller for any error or misstatement in or omission from the description of any lot in any Catalogue where SAL has: 6.4.1 been provided with such description by the Seller or any person on his behalf; or 6.4.2 provided the Seller with a copy of such description prior to publication of the Catalogue and neither the Seller nor any person on his behalf has notified SAL in writing within a reasonable time before the Auction of any error or misstatement in or omission from the description. 6.5 SAL has no duty to the Seller or the Buyer to investigate the accuracy of the description of any Lot provided by or on behalf of the Seller. 7. Warranty by the Seller 7.1 The Seller warrants to the Buyer and to SAL that: 7.1.1 The Seller is the owner of the Lot or is properly authorised to sell the Lot by the owner, and is able to sell the Lot with full title guarantee free from all encumbrances and third party claims and in particular that there is no outstanding finance affecting the Lot or any taxes due. If the car is subject to finance the amount outstanding must be confirmed prior to consignment and sale. 7.1.2 The description of the Lot in the Catalogue is to the best of the Seller’s knowledge accurate and not misleading. The Seller has notified (or will before the Auction notify) SAL in writing of any material alterations to the Lot of which the Seller is aware and of any concerns expressed by third parties in relation to the authenticity, provenance, origin, age, condition or quality of the Lot and has provided SAL with all such information in the Seller’s possession or control. 7.1.3 The Seller shall compensate SAL and the Buyer in full for all losses, expenses and other costs which are caused by the Seller’s breach of any obligation of the Seller under the Terms. 7.1.4 Where the vehicle is not registered in the UK, the seller shall be responsible for completing the NOVA application within 14 days of the car arriving in the UK and before the vehicle arrives at the auction for sale. 8. Vehicle Registration Numbers 8.1 If the Seller wishes to sell the Motor Vehicle but to retain the right to the registration number of the Motor Vehicle it is the Seller’s Responsibility to notify SAL in writing. 8.2 It shall be the Seller’s responsibility to complete the retention documentation prior to sale and offer the vehicle with a new V5c and allocated registration from the DVLA prior to the Motor Vehicle being sold at the Auction whether or not SAL volunteers its services to effect that, and no liability shall attach to SAL in respect to any act or omission as a result. 9. Bidding and Reserves 9.1 Admission to the Auction requires the purchase of a Catalogue which must be presented at the entrance to the Auction. 9.2 SAL do not accept bids from any person who has not completed and submitted a registration form. Proof of identification will be required in the form of a passport or driver’s licence, together with a recent utility bill showing a bidder’s current address, before the registration process can be completed. 9.3 The Auctioneer will commence and advance the bidding at levels and in increments he considers appropriate and is entitled to place a bid or series of bids on behalf of the Seller, up to the Reserve on the Lot. 9.4 The Seller may place a Reserve on any Lot when he consigns it to the Auction, and once placed it may not be changed without the written consent of SAL. All Lots ill be sold without Reserve unless a Reserve has been agreed by SAL in writing. 9.5 Where a Reserve has been agreed, only SAL at its absolute discretion may bid on behalf of the Seller. 9.6 If no Reserve has been placed on a Lot, SAL shall in no way be held liable should the Lot be purchased for a price below any lowest estimated selling price of the Lot given in any Catalogue. 9.7 SAL may sell a Lot below the Reserve agreed with the Seller, provided that SAL accounts to the Seller for the same Sale Proceeds as the Seller would have received had the Lot been sold at that Reserve. 10. Commission and Expenses 10.1 SAL shall be entitled to deduct from the Hammer Price and retain an amount equal to 5% of the Hammer Price for vehicles and 15% for automobilia and lifestyle goods or such other sum agreed by SAL in writing (“Seller’s Commission”) plus VAT together with Expenses and any other sums due from the Seller to SAL. 10.2 The Seller acknowledges SAL’s right to retain the Buyer’s Premium payable by the Buyer. 11. Insurance 11.1 Only on payment of the Purchase Price in cleared funds shall title in the Lot pass from the Seller to the Buyer. However, the risk in the Lot passes to the Buyer on the fall of the hammer. It is therefore, the responsibility of the Seller to insure the Lot before the hammer falls and the responsibility of the Buyer to insure the Lot after the hammer falls. 11.2 SAL will not be responsible for any damage to or the loss or destruction of a Lot unless caused by the negligence of or other breach of duty by SAL, its employees or agents in the ordinary course of their duties to SAL and the Seller shall compensate SAL in full in respect of all other claims and proceedings brought against SAL in respect of any loss or damage to or destruction of the Lot. 11.3 SAL will not be liable for any injury, loss or damage caused by any Lot or by the Seller’s negligence of SAL, its