Supercar Fest Sale of Iconic & Classic Cars 28 May 2022

131 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 to them. Neither SA nor its employees or agents shall be responsible for any loss or damage unless caused by the negligence of SA, its employees or agents in the ordinary course of their duties to SA if and in so far as the Lot is in SA’s custody or under its control. 18.2 The Buyer shall be responsible for all removals, insurance, storage and other charges on any Lot from the point at which the Lot is sold in accordance with clause 14 above. 18.3 DVLA will be notified of the change of keeper as soon as possible following collection of the Lot in accordance with clause 17 above. 18.3.1 Where imported Lots are subject to a NOVA declaration being completed SA will instruct the import agent to do this on the Buyers behalf, once full payment is received, and will provide the buyer with the NOVA reference number. These lots will be clearly marked in the Lot description. 18.4 Automobilia, watches & lifestyle Lots will be sent to the buyer at the buyer’s expense. 19. NON-PAYMENT OR FAILURE TO COLLECT 19.1 If the Purchase Price is not paid in full, SA as the agent of the Seller, shall in its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or more of the following remedies:- 19.1.1 to store (either at SA’s premises or elsewhere) and insure the Lot at the expense of the Buyer; 19.1.2 to charge interest at a daily rate equal to 4% pa over Barclays Bank’s Base Rate on so much of the total amount due as remains unpaid after the date of and time referred to in clause 17.2; 19.1.3 to retain that or any Lot sold to the same Buyer at the same or any other auction of SA and to release it only after payment of the total amount due; 19.1.4 to apply any money due or to become due to the defaulting Buyer in or towards settlement of the total amount due and to exercise a charge or lien on any property of the Buyer which is in SA’s possession for any purpose. 19.1.5 take such steps as SA shall at its absolute discretion consider necessary to collect the monies due from the Buyer, and to agree terms for the payment of the Purchase Price; 19.1.6 to rescind the sale and refund any monies to the Buyer, or to rescind the sale to the Buyer and to purchase the Lot itself. If it does so, property in the Lot shall pass to SA on its election and SA shall remit the Purchase Price to the Seller within 14 Working Days of its election less the Seller’s Commission, Expenses and sums due to SA which would have been payable had the contract not been rescinded; 19.1.7 to appoint a solicitor and/or other agent to pursue any of the courses of action referred to in this clause 19, and the Seller hereby authorises SA to take any of the courses referred to in this clause, including the issue and prosecution of proceedings on the Seller’s behalf, and to settle claims and/or proceedings made by or against the Buyer on such terms as the Seller shall instruct, or in the absence of instructions on such terms as SA shall at its absolute discretion think fit. The Buyer shall be liable for all the costs incurred in any proceedings, negotiations or ADR (Alternative Dispute Resolution) including any shortfall in cost between those expended by SA or the Seller and those awarded by any Court or Tribunal. 19.2 If the Buyer fails to make payment within 14 days after the date and time referred to in clause 17.2, SA shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to re-sell the Lot or cause it to be resold by public auction or private sale, and, if this results in a lower price being obtained, the defaulting Buyer shall then pay to SA any deficiency, together with re-sale costs and any costs incurred in connection with the Buyer’s failure to make payment and any surplus shall belong to the Seller. 19.3 If the Lot is not taken away on the date and time referred to in clause 17, whether or not the Purchase Price has been paid, SA shall remove, store (either at SA’s premises or elsewhere) and insure the Lot at the expense of the Buyer and only release the Lot after payment of the total amount due. 20. LIABILITY OF SA AND THE SELLER 20.1 Buyers are solely responsible for ensuring that Motor Vehicles are safe for use, roadworthy (if a road going car) and comply with all relevant laws and regulations in force in all relevant jurisdictions and for ensuring that any necessary test certificates are in force. It is the responsibility of the Buyer to carry out such inspection as he thinks necessary in line with clauses 5 and 6 above. 20.2 In bidding for any Lot, the Buyer acknowledges that he does not rely on any representation made to him by SA, its employees or agents. 20.3 This contract is made for the benefit of SA, the Seller, and the Buyer, and save where the Buyer acts as agent for a named principal in accordance with Condition 15.1, is not intended to benefit or be enforceable by anyone else. For the avoidance of doubt, any rights otherwise arising under the Contracts (Rights of Third Parties) Act 1999 are expressly excluded. 21. 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. 22. NOTICES 22.1 Any notices shall be deemed to have been received:- 22.1.1 if hand-delivered, at the time of delivery; 22.1.2 if sent by mail, two days after the date of posting. 22.2 In proving service by delivery:- 22.2.1 by hand, it shall be necessary only to produce a receipt for the notice signed by or on behalf of the addressee; 22.2.2 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. 23. DATA PROTECTION 23.1 All information provided to SA will be treated confidentially and shall not be passed to third parties, except where necessary to complete a sale transaction. 23.2 SA reserves the right to pass on information when required by legislation, government authorities or the courts.