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TERMS AND CONDITIONS
| 1. |
Comic Book Auctions
Limited ("Compal") trades under these terms and conditions only, and
no alteration or addition to these terms and conditions binds Compal unless accepted
by Compal in writing. These Terms and Conditions supersede all previous editions. |
| 2. |
Compal sells as agent for
the Seller and is not responsible for any act or omission of the Seller or Buyer. |
| 3. |
While every effort is made to ensure the
accuracy of description of lots, Compal does not warrant the accuracy of descriptions. All
statements of any nature (whether in writing or oral) made by Compal are statements of
opinion only, and no responsibility is taken for the accuracy of any opinion given. |
| 4. |
Compal reserves the right at its sole
and absolute discretion to refuse any bid, divide or amalgamate any lot, or to withdraw
any lot. |
| 5. |
All transactions to which these terms
and conditions apply shall be governed by English law and all parties submit to the
exclusive jurisdiction of the English Courts. |
| 6. |
The copyright in all words and lot
illustrations remains the absolute property of Compal and any person wishing to use it
shall obtain the prior written consent of Compal. |
SELLER’S
CONDITIONS
| 7. |
The Seller is the person
placing lots with Compal for sale at Compal auctions. The Seller warrants to Compal and to
the Buyer that he is the true owner of the lot or is authorised to sell the lot by the
true owner and is able to transfer good and full title to the lot free from all charges
liens claims and encumbrances of any nature. |
| 8. |
The Seller indemnifies
Compal and the Buyer against all claims and proceedings arising from a breach of condition
7 and shall reimburse Compal and the Buyer upon demand for any and all loss expense or
damage arising therefrom. |
| 9. |
Compal is entitled to deduct from the
bid price placed by any Buyer commission of 20%, entry fees of £1 per lot and insurance
of 2% of the Reserve. The balance is the "sale proceeds". |
| 10. |
The Seller acknowledges Compal’s
right to retain the premium payable by the Buyer in accordance with these conditions. |
| 11. |
The Seller may place a Reserve price on
any of his lots. All lots will be sold without Reserve unless a Reserve has been agreed by
Compal. The level and existence of Reserves are confidential. |
| 12. |
The Seller authorises Compal to accept
bids of less than the Reserve, provided that any amounts due to the Seller are calculated
as if the lot had been sold for the Reserve. |
| 13. |
Compal shall pay to the Seller the sale
proceeds not later than one month after the closing date of the relevant auction provided
that the sale proceeds have by then been received by Compal. If the sale proceeds have not
been so received, Compal shall pay the Seller the sale proceeds within 14 working days
after receipt from the Buyer. |
| 14. |
If the Buyer fails to pay the purchase
price to Compal within 42 days of the closing date of the relevant auction, Compal may (at
its sole option) notify the Seller and return his goods to him. |
| 15. |
Compal has the right to photograph and
illustrate any lot and to use such photograph or illustration as it deems fit. |
| 16. |
If a lot is unsold, Compal shall notify
the Seller and the Seller shall either arrange for its collection from Compal or instruct
Compal to offer the lot for sale again. Failure to comply with this condition within 28
days shall entitle Compal to sell the lot for any price and deduct from the sale proceeds
any sums owing to Compal by the Seller. |
BUYER’S CONDITIONS
| 17. |
The Buyer is the person
submitting the highest bid in the appropriate manner for any lot at the relevant auction
(being the highest bid at the closing date in postal auctions or the highest bid before
the hammer falls at live auctions, provided in either case that the bid is acceptable to
Compal in its absolute discretion) and Compal shall settle any dispute finally at its
absolute discretion. |
| 18. |
After the closing date or
the live auction (whichever is the later) Compal shall reduce the highest postal bid (but
not the highest live bid) for any lot to 10% above the next highest bid. |
| 19. |
The Buyer shall pay to Compal for each
lot the bid price, a premium of 10% of the bid price, the postage and packing charge (the
"subtotal") , and if he pays by credit card a handling charge of 2% of the
subtotal (together "the purchase price") and the Buyer acknowledges that Compal
may receive the commission due from the Seller in accordance with these terms and
conditions. At live auctions payment may be made by debit or credit card on the day, but
not by cash. The Buyer may take away on the day his lots paid for in this way. If the
Buyer pays for any lots by cheque, Compal will ship the lots to him once the cheque has
cleared. |
| 20. |
Upon acceptance of a bid by Compal, a
contract of sale is completed between the Buyer and Seller. Compal is not a party to the
contract, and shall not be liable for any breach of it by the Buyer or the Seller.
Ownership of any lot will only pass to the Buyer when he has paid the full purchase price
for it. |
| 21. |
The purchase price must be paid to
Compal no later than 7 days after the date of the invoice which Compal sends to the Buyer. |
| 22. |
The Buyer is responsible for any loss or
damage to any lot he has purchased from the date of his invoice and neither Compal nor any
of its employees or agents shall be responsible for loss or damage of any kind caused
while the lot is in its custody or control after that date. |
| 23. |
If a lot is not paid for in full in
accordance with these conditions, Compal as agent for the Seller and without further
notice to the Buyer shall at its absolute discretion be able to do any one or more of: a)
re-sell the lot; b) remove, store and insure the lot at the expense of the Buyer; c)
charge the Buyer interest on the purchase price at 3% above the base lending rate of
National Westminster Bank plc from time to time; d) retain any lots sold to the Buyer at
any Compal auction until payment of the purchase price; e) apply the proceeds of sale of
any lot due at any time to the Buyer towards settlement of the purchase price; f) exercise
a lien over any goods belonging to the Buyer which are in Compal’s possession or
custody; g) rescind the sale of that and/or any other lot sold to the Buyer at any Compal
auction; h) issue legal proceedings against the Buyer for damages for breach of contract. |
| 24. |
Prior to bidding, Buyers must satisfy
themselves as to the condition of lots in person at live auctions or by our Appointment to
View service. Neither the Seller nor Compal (nor any employees or agents) are responsible
for any errors of description, and no warranty is given. Your stautory rights are not
affected. |
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