The bidder must download and complete a separate authority form and provide either a personal cheque, bankers draft, solicitor’s clients account cheque, or cheque signed by a Building Society, for 10% of the maximum amount bid for each lot. This is subject to a minimum of £2,000 (as applicable) made payable to: Seel & Co Ltd. In addition to the deposit, a buyer’s premium of £450 plus Vat is also payable.
The form must be sent or delivered to: The Auctioneers office, The Crown House, Wyndham Crescent, Cardiff, CF11 9UH, to arrive before 5pm two working days prior to the date of that month’s relevant auction. It is the bidder’s responsibility to check that the form is received by telephoning the auctioneer’s office.
The bidder shall be deemed to have read the bidders’ notice and the particulars of the relevant Lot in the catalogue and the General and Special Conditions of Sale. The prospective purchaser shall be deemed to have taken all necessary professional and legal advice and to have made enquires and have knowledge of any announcements to be made from the rostrum of any amendments relating to the relevant lot. Announcements can and should be checked by bidders on the day of the auction.
In the case of telephone bids attempts will be made to contact the bidder by telephone and if successful, the bidder may then compete in the bidding (up to the maximum of the amount authorised in the completed authority form).
In the event that the proposed bidder cannot be contacted or communication breaks down, or there is any confusion or disruption, the auctioneers will bid/continue to bid on behalf of the bidder up to the maximum of the authorisation.
In the case of written bids the auction staff will compete in the bidding up to the maximum of the authorisation.
The right is reserved not to bid on behalf of telephone/written bidders in the event of any error, doubt, omission or uncertainty of the bid for any reason whatsoever. No warranty or guarantee is given that a bid will be made on behalf of the bidder and no liability is accepted in this regard.
In the event that the telephone/written bid is successful the auctioneer will sign the Memorandum of Contract on behalf of the bidder as a contract would have been formed on the fall of the hammer.
In the event of a contract, the deposit monies will be applied so far as necessary to meet the requirement for a 10% deposit. In the event that the bidder is unsuccessful in gaining the contract, the deposit monies shall be returned to the bidder promptly.
Once delivered to the auctioneers, the authority to bid is binding on the bidder up to 9.00 pm on the day on which the particular lot is auctioned. This is to allow for the possibility of a vendor agreeing to sell post-auction where the bidding has not reached the reserve.
The authority can only be withdrawn by notification in writing delivered to the offices of Seel & Co, two hours before the start of the auction on the day the relevant lot is scheduled to be auctioned or by delivery into the hands of the auctioneers in the auction room half an hour before the start of the auction that day. It is the bidders responsibility to obtain a receipt on a copy of the withdrawal notification signed by one of the auctioneers staff and without such a receipt the authority stands and any successful Contract is binding on the bidder.
If the bidder, or the agent, actually bids at the auction without having previously withdrawn the authority, the auctioneer is at liberty to accept such bid in addition to any bid from auction department staff as empowered under the telephone/ written authority form. The auctioneers would have no liability whatsoever if the price achieved is the result of this competition in bidding without intervention from other bidders.
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