The May Sale 2021 22nd May 2021

www.silverstoneauctions.com 173 Seller (or, if appropriate, the Buyer). If there shall be a shortfall any such shortfall shall be made good by the Seller to SA on demand. 12.7.3 If within 7 days after receipt of the notice referred to in clause 12.5 the Seller informs SA that he wishes re-delivery of the Lot, he shall be entitled to do so but only upon prior payment of all Expenses and all legal and other costs reasonably incurred by SA so as to keep SA fully compensated. 13. WITHDRAWAL 13.1. The Seller may by notice in writing to SA withdraw the Lot from the Auction. In the event of such withdrawal, the Seller shall within 14 days of withdrawal pay SA the sums set out in this Condition 13. All such sums shall be payable to SA as remuneration for the services performed by SA down to the date of withdrawal, and not by way of penalty or liquidated damages. 13.2 In all cases of withdrawal, the Seller shall be liable to pay SA 15% of the mid estimate value of the Lot, notwithstanding that commission of a lesser, or no, amount had previously been agreed, to reflect the time, effort, loss of publicity and buyer’s premium suffered by SA. In the event of a Lot having no reserve and therefore no estimate the Seller shall be liable to pay SA 10% of the auctioneer’s reasonable estimate. The fee shall be subject in each case to VAT and Expenses. 13.3.In the event that the Seller withdraws the Lot from the Auction, the Seller shall arrange for collection and removal of the Lot at his own expense within two working days after the date of withdrawal provided that the Seller may not collect the Lot unless and until any withdrawal fee payable under Conditions 13.1 and 13.2 shall have been paid in full. 14. REMOVAL AND STORAGE 14.1 At least 7 working days prior to the Auction the Seller shall deliver the Lot to a central location at their own expense. Any motor vehicles not collected by 5pm on the Monday following the sale will be taken to our transport partners storage facility in Northampton at a cost of £150 plus VAT. Storage will be charged at £10 plus VAT per day from the Tuesday. 15. THE BUYER 15.1 The Buyer shall be the highest bidder at the Hammer Price. Any dispute as to any bid shall be settled by the Auctioneer at his/her absolute discretion. Every bidder shall be deemed to act as principal unless prior to the commencement of the Auction there is a written acceptance by SA that a bidder acts as agent on behalf of the named principal, and that its principal has agreed to and/or is bound by these Conditions; in which case he shall be jointly liable with the principal under these Conditions. 16. BUYER’S PREMIUM 16.1 The Buyer shall pay the Buyer’s Premium to SA at the following rates: Motor Vehicles 12.5% plus VAT, Automobilia and Lifestyle items 20% plus VAT and Number Plates 10% plus VAT. The Buyer acknowledges that SA may also receive the Seller’s Commission due to SA under Clause 10. 16.2 VAT may also be payable on the hammer price of a Lot. Any lots will be clearly marked as such in the catalogue description as follows: † VAT on hammer price and buyers premium at the prevailing rate Ω VAT on imported items on the hammer price and buyers premium at the prevailing rate* - VAT on imported items at a rate of 5% on the hammer price and the prevailing rate on the buyers premium* -- VAT on imported items on the hammer price and buyers premium at the prevailing rate, plus 10% duty on the hammer price* Note - * This import VAT is not payable by buyers exporting to the EU. However, import VAT will be due in the country you are exporting to. All other Lots will be sold using the Auctioneers Margin Scheme (VAT Notice 718/2). VAT will not be charged on the hammer price. The VAT on the buyers premium will not be split out on the invoice and cannot be reclaimed by UK VAT registered businesses or individuals. Purchases being exported to the EU within 3 months of the auction date will be zero rated purchases . It is the Buyers responsibility to provide evidence of export within the time specified. Failure to do so will result in the VAT becoming payable to SA immediately. 16.3 Further duties and VAT may be applicable on exporting Lots from the UK. It is the responsibility of the Buyer to settle these charges. 17. PAYMENT 17.1 Once a lot is sold, the Purchase Price shall become immediately payable to SA. 17.2 Full payment for all Lots must be made to SA by 5:00pm the next Working Day. Payment should be made by bank transfer and can only be accepted in GBP. Payment by card can only be made in person (subject to Government Guidelines at the time of collection) up to £20,000 by debit card and £5,000 by credit card. 17.3 No Lot may be collected until the Purchase Price has been received by SA and payments by a Buyer to SA may be applied by SA towards any such sums due from that Buyer to SA on any account whatsoever notwithstanding any directions to the contrary by the Buyer or his agent whether express or implied. 17.4 Title to the Lot will pass to the Buyer only when the Purchase Price in cleared funds has been received by SA. 17.5 Immediately a Lot is sold the risk shall pass to the Buyer notwithstanding that possession will not be given and title will not pass to the Buyer before payment of the Purchase Price. 17.6 The Buyer shall, at his own expense, remove the Lot purchased but not before payment in full to SA of the Purchase Price whether in respect of this or any other Lot. The Buyer must collect the vehicle or arrange for its delivery in accordance with the terms in clause 14. 17.7 Cash payments cannot be accepted. 17.8 It is the Buyers responsibility to comply with all export and import regulations relating to the Lot and to settle any applicable taxes and duties. 18. RESPONSIBILITY FOR PURCHASED LOTS 18.1 The Buyer will be responsible for loss or damage to a Lot they have purchased from when the Lot is sold