The Classic Sale At Silverstone Festival 25th - 27th August 2023

289 TERMS & CONDITIONS GENERAL These Terms and Conditions should be read in conjunction with the Terms and Conditions specific to Buyers and Sellers. The following Terms (“Terms”) together with such other terms, conditions and notices as may be set out in any relevant catalogue apply to all live sales by Iconic Auctioneers Limited (registered company number 07464860), The Forge, Harwoods House, Banbury Road, Ashorne, CV35 0AA (“IA”) at auction or within 14 days after the auction. No alteration to the Terms will be binding unless accepted by IA in writing. The Terms may be amended by IA provided it is reasonable for it do so by the posting of notices prior to or during the sale. Nothing in the Terms shall affect the statutory rights of a consumer. Additional information applicable to the Auction may be set out in the Catalogue for the Sale, in an insert in the Catalogue and/or in a notice displayed in the Auction Hall or via the website. Buyers should be alert to the possibility of changes. IA acts solely for and in the interests of the Seller. IA’s duty is to sell the Lot at the highest price obtainable at the Auction to a Buyer. IA does not act for Buyers in this role and does not give advice to Buyers. When IA or its employees make statements about a Lot it is doing so as agent for the Seller of the Lot. Buyers who are themselves not expert in the Lots are strongly advised to seek and obtain independent advice on the Lots and their value before bidding for them. This may include inspecting the Lot where available. DEFINITIONS 1. In these Terms: 1.1 “Auction” means the auction sale in respect of which a Lot is made available for sale. 1.2 “Auctioneer” means the representative of IA conducting the Auction or their agent nominated to do so. 1.3 “Automobilia” means any memorabilia including but not limited to trophies, badges, programmes, models, prints and other collectables. 1.4 “Buyer” means the person whose bid is accepted by IA to conclude the contract for the purchase of a Lot. 1.5 “Buyer’s Premium” means the amount payable by the Buyer to IA, calculated by reference to the hammer price and payable in addition to it. 1.6 “Catalogue” means the list of lots relating to the relevant Auction and includes any webpage advertisement, brochure, estimate, price list or other publication relating to one or more Lots. 1.7 “Contract” means the legal agreement between the Buyer and the Seller made on the successful bid of the Buyer on which the Lot is sold to them. 1.8 “Cataloguing Fee” means the sum payable by the Seller for each Lot entered into the Auction in respect of photography, script writing and marketing costs. 1.9 “Estimate” means a statement of our opinion of the range within which we think the Hammer Price for the Lot is likely to be. It should not be relied on as an indication of actual selling price or value of a Lot and does not take into account Buyer’s Premium or VAT. 1.10 “Expenses” means IA’s charges and expenses payable by the Seller in addition to the Seller’s Commission including insurance, storage, illustrations, cataloguing fee, cleaning costs, special advertising, packing and freight of that Lot and any VAT thereon. 1.11 “Hammer Price” means the price in pounds sterling at which a Lot is sold by the Auctioneer to the Buyer. 1.12 “Live Sale” means a sale open to the public for viewing and bidding in the room, conducted by an Auctioneer. 1.13 “Lot” means any item(s) consigned to IA with the view to its or their sale at Auction. 1.14 “Motor Vehicle” means any car or motorcycle included or proposed to be included in an auction together with spares, tools, documentation etc. stated as being part of the Lot. 1.15 “No Reserve” means there is no minimum price at which the Lot may be sold. 1.16 “Purchase Price” means the Hammer Price together with the Buyer’s Premium and any additional charges due plus VAT. 1.17 “Reserve” means the minimum price agreed between IA and the Seller at which a Lot may be sold. 1.18 “Sale Proceeds” means the net amount due to the Seller being the Hammer Price less the Seller’s Commission and VAT, Expenses and any other amount due to IA from the Seller. 1.19 “Seller” means the person who offers the Lot for sale, whether as agent or principal. 1.20 “Seller’s Commission” means the amount payable by the Seller to IA, calculated by reference to the hammer price. 1.21 “VAT” means Value Added Tax applicable at the prevailing rate at the date of the transaction (currently 20%). 1.22 “Working Day” means any day (other than a Saturday and Sunday) at which clearing banks in the city of London are open for the transaction of normal sterling banking business. 2. AGENT IA sells as agent for the Seller (except where IA is selling as principal, which IA will disclose in the Catalogue or otherwise in the Auction). The Contract for the sale of a Lot is between the Seller and the Buyer. IA shall not be liable for any act or default by the Seller (except where selling as principal) or the Buyer. 3. LOSS OR INJURY IA shall be under no liability for any injury, damage or loss sustained by any person while on IA’s premises (including any premises where an auction may be conducted or where a Lot, or part of a Lot, may be on view from time to time) except for death or personal injury, damage or loss caused by the negligence of or other breach of duty by IA, its employees or agents in the ordinary course of their duties to IA. 4. GOVERNING LAW Any transactions to which the Terms apply shall be governed by English Law and the Courts of England shall have exclusive jurisdiction to settle all disputes arising in connection with all aspects of all matters or transactions to which these Terms apply. 5. NOTICES 5.1 Any notices shall be deemed to have been received:- 5.1.1 if hand-delivered, at the time of delivery; 5.1.2 if sent by mail, two days after the date of posting. 5.2 In proving service by delivery:- 5.2.1 by hand, it shall be necessary only to produce a receipt for the notice signed by or on behalf of the addressee; 5.2.2 by post, it shall be necessary only to prove that the notice was contained in a pre-paid envelope which was duly addressed and posted first class. 6. DATA PROTECTION 6.1 All information provided to IA will be treated confidentially and shall not be passed to third parties, except where necessary to complete a sale transaction or to facilitate transport by our partners. 6.2 IA reserves the right to pass on information when required by legislation, government authorities or the courts. 6.3 Telephone calls are recorded for training and monitoring purposes and may be used to assist in resolving any disputes which may arise in relation to bids during a Sale. 6.4 Photographs and video footage will be taken throughout the auction. These will be used by IA for marketing and publicity on our website, in social media, third party publications and other marketing collateral. The auction will be live streamed on our website and YouTube channel. Please speak to a member of staff at the registration desk if you have any concerns or if you wish to be exempted from this activity. Please note that we cannot be held responsible for any third party photography or video content of this event. 7. MISCELLANEOUS 7.1 You acknowledge and agree that IA, nor anyone employed by or representing IA, has not provided any legal or tax advice to you. 7.2 If any clause or part of any clause contained in the terms and conditions is held to be unenforceable or invalid this shall not affect the enforceability or validity of the remaining clause/s. BUYERS These terms and conditions should be read in conjunction with the General Terms & Conditions. IA acts solely in the interest of the Seller – to sell the lot at the highest price obtainable for the Seller. IA does not act for Buyers or Bidders and does not give advice to Buyers or Bidders. Any statements made regarding a Lot are made on behalf of the Seller. Bidders and Buyers who are themselves not expert in the Lots are advised to seek independent advice regarding their lots and their value before bidding. 1. LOTS 1.1 The Catalogue contains details about each Lot. The description contained in the Catalogue, which may be online, is given on behalf of the Seller, from information supplied by the Seller for which IA is not responsible. Mileage is correct at time of cataloguing.