1977 Colt Sigma 2000 GLX - The rarest of survivors! 1 of only 2 UK road registered - No Reserve

Humbert & Ellis Ltd Terms & Conditions - General

The following Terms (“Terms”) together with such other terms, conditions and notices as may be set out in any relevant catalogue apply to all sales by Humbert & Ellis Limited (registered company number 04828258), The Mill Pury Hill Business Park, Alderton, Towcester, United Kingdom, NN12 7LS (“HE”) at auction or within 14 days after the auction.

No alteration to the Terms will be binding unless accepted by HE in writing. The Terms may be amended by HE 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 Saleroom (For Live Bidding Only) or via the website. Buyers should be alert to the possibility of changes.

HE acts solely for and in the interests of the Seller. HE’s duty is to sell the Lot at the highest price obtainable at the Auction to a Buyer. HE does not act for Buyers in this role and does not give advice to Buyers. When HE 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 HE conducting the Auction or their agent nominated to do so.

1.3 “Other Items” means any memorabilia, antiques, jewellery, decorative or household items, collectables etc.

1.4 “Buyer” means the person whose bid is accepted by HE to conclude the contract for the purchase of a Lot.

1.5 “Buyer’s Premium” means the amount payable by the Buyer to HE, 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 “Listing 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 HE’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 HE with the view to its or their sale at Auction.

1.14 “Vehicle / Registration Number” 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 HE 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 HE 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 HE, 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.

1.22 “Discretion” means the percentage amount HE can reduce a reserve without informing the Seller.

2. AGENT

HE sells as agent for the Seller (except where HE is selling as principal, which HE 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. HE shall not be liable for any act or default by the Seller (except where selling as principal) or the Buyer.

3. LOSS OR INJURY

HE shall be under no liability for any injury, damage or loss sustained by any person while on HE’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 HE, its employees or agents in the ordinary course of their duties to HE.

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 HE 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 HE reserves the right to pass on information when required by legislation, government authorities or the courts.

7. MISCELLANEOUS

7.1 You acknowledge and agree that HE, nor anyone employed by or representing HE, 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.

Humbert & Ellis Ltd Terms & Conditions - Buyers

These terms and conditions should be read in conjunction with the General Terms & Conditions.

HE acts solely in the interest of the Seller – to sell the lot at the highest price obtainable for the Seller. HE 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 HE is not responsible. Mileage is correct at time of cataloguing.

1.2 Photographs, Illustrations and diagrams contained in the Catalogue are for identification purposes only. They may not show the true condition and colour (which may be inaccurately reproduced) of the Lot.

1.3 It is for any potential bidder to satisfy themselves as to each and every aspect of a Lot, including its originality, authorship, condition, provenance, history, background, authenticity, style, period, age, suitability, quality, roadworthiness (if relevant), origin, value and estimated selling price (including the Hammer Price), via the information provided online or in any Catalogue. No description of a Lot carries with it an implication that it is fit for any particular purpose.

1.4 Each Lot is sold by its respective Seller to the Buyer. Lots are sold to the Buyer on an “as is” basis, with all faults and imperfections and no warranty.

1.5 The actual condition of a Lot may not be as good as its outward appearance suggests. In particular, parts may have been replaced or renewed and those parts may not be original or of “Satisfactory Quality’. The inside of a Lot may not be visible where, for example, it is covered by upholstery or material, and may not be original or may be damaged, have been damaged or poorly repaired. Given the age of some Lots, no assumption should be made with regard to any aspect of its condition.

1.6 Any person who physically interferes with, scratches or damages the Lot in any way (before or after the Auction) will be held liable for the loss so caused.

1.7 Lots market with an Asterix (*) are either owned or partly owned by HE or an employee of HE.

2. ALTERATIONS AND ESTIMATES

2.1 Estimates and descriptions may be amended at HE’s discretion from time to time by notice given orally or in writing before or during an Auction.

2.2 The Lot will be available to view either via the information provided online or at the Auction venue. Any potential bidders must form their own opinion in relation to the Lot.

2.3 HE gives no warranty or representation as to the anticipated or likely selling price of any Lot. Any estimate given, whether written or oral and whether or not contained in any Catalogue, as to the estimated selling price of any Lot is a statement of opinion only and may be subject to revision from time to time at HE’s sole discretion and should not be relied upon as an indication of the actual selling price.

2.4 HE has no duty to the Buyer to investigate the accuracy of the description of any Lot provided by or on behalf of the Seller.

3. BIDDING AND RESERVES

3.1 You must be 18 or over in order to bid. You should keep your account details strictly confidential and not permit any third party to access your account on your behalf or otherwise. You will be liable for any and all bids made via your account.

3.2 In order to bid in the auction potential buyers must register via our website or bidding platform to bid online. All relevant information must be completed and ID requirements met for your bid to be processed. You should not let anyone else use your paddle. The name and address in which you register will be the name and address on your invoice, if successful, and cannot be amended once issued.

3.3 HE may refuse to accept bids from any person who has not registered via one of the methods in clause 3.1. Buyers are directed to the requirements in place regarding registration before the registration process can be completed.

3.4.1 HE reserves the right to decline to register bidders and decline to accept their bids if they have been so registered.

3.5 Buyers should ensure they have the necessary funds available to pay before bidding.

3.6 The Auction will be conducted in line with the terms and conditions.

3.7 You cannot reduce or cancel a bid once it has been placed with the Auctioneer and it is the Auctioneers decision as to whether a bid has been validly made.

3.8 A Contract of sale is made between the Seller and the Buyer on the acceptance of a bid by the fall of the Auctioneer’s hammer. HE is not a party to the Contract. The Buyer will be liable to pay the Purchase Price which is the Hammer Price plus the Buyer’s Premium and any applicable VAT. 

3.8.1 Occasionally a bid may be accepted by the Auctioneer as a ‘provisional bid’ if your final bid has not met the reserve price. A provisional bid stands until 12pm the day following the auction. During this time HE will contact the Seller on your behalf to see if they will accept your bid or to try to negotiate a sale on your behalf. If successful the lot will be deemed to have been sold to the Buyer at the fall of the hammer and the normal terms and Conditions will apply to the purchase.

3.9 If two or more bidders submit identical bids for a Lot, the first bid received takes preference.

3.10 If you are bidding as agent on behalf of another party you must disclose this fact when you register to bid and provide information as required for identification checks on that third party. Where your bid is successful you are jointly and severally liable with the third party for the full amount owing to us.

4. THE BUYER

4.1 Any doubt as to the Hammer Price or Buyer must be brought to the Auctioneers attention immediately. 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 HE 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.

5. BUYER’S PREMIUM

5.1 The Buyer shall pay the Buyer’s Premium to HE at the following rates on the hammer price:

Vehicles / Registration Numbers - 10% (Including VAT and internet fee)

Other Items - 30.94%  (Including VAT and internet fee)  

5.2 VAT may also be payable on the hammer price of a Vehicle. Any Vehicles will be clearly marked as such in the catalogue description as follows:

†    VAT on hammer price and buyer’s premium at the prevailing rate

Ω   VAT on imported Vehicles on the hammer price and buyer’s premium at the prevailing rate*

◊    VAT on imported Vehicles at a rate of 5% on the hammer price and buyer's premium plus the prevailing rate on the buyer's premium*

○   VAT on imported Vehicles on the hammer price and buyer’s 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 buyer’s 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 HE immediately.

5.3 Further duties and VAT may be applicable on exporting Lots from the UK. It is the responsibility of the Buyer to settle these charges.

6. PAYMENT

6.1 Once a lot is sold, the Purchase Price shall become immediately payable to HE.

6.2 Full payment for all Lots must be made to HE within 48 hours of close of sale. Payment should be made by bank transfer and can only be accepted in GBP. Payment by card can only be made in person up to £20,000 by debit card and £5,000 by credit card. We do not accept AMEX or cash.

6.3 No Lot may be collected until the Purchase Price has been received by HE and payments by a Buyer to HE may be applied by HE towards any such sums due from that Buyer to HE on any account whatsoever notwithstanding any directions to the contrary by the Buyer or his agent whether express or implied.

6.4 Title to the Lot will pass to the Buyer only when the Purchase Price in cleared funds has been received by HE.

6.5 Immediately after 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.

6.6 The Buyer shall, at his/her own expense, remove the Lot purchased but not before payment in full to HE of the Purchase Price whether in respect of this or any other Lot. The Buyer must collect the Lot or arrange for its delivery in accordance with the terms in the Key Sale Information in the Auction Catalogue.

6.7 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.

7. INSURANCE

7.1 Only on payment of the Purchase Price in cleared funds shall title in the Lot pass from the Seller to the Buyer. However, the risk in the Lot passes to the Buyer as soon as the Lot is sold to the Buyer. The Lot is sold when the highest bid is accepted by the Auctioneer. It is therefore the responsibility of the Buyer to insure the Lot from the fall of the hammer.

8. RESPONSIBILITY FOR PURCHASED LOTS

8.1 The Buyer will be responsible for loss or damage to a Lot they have purchased from when the Lot is sold to them. Neither HE nor its employees or agents shall be responsible for any loss or damage unless caused by the negligence of HE, its employees or agents in the ordinary course of their duties to HE if and in so far as the Lot is in HE’s custody or under its control.

8.2 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 the Key Sale Information in the Auction Catalogue.

8.3 Where applicable, HE will retain the V5C and notify the DVLA of the change of keeper as soon as possible following full payment of the Lot in accordance with clause 6.

8.4 Where imported Lots are subject to a NOVA declaration being completed the buyer will need to instruct the import agent to do this.. These lots will be clearly marked in the Lot description.

8.5 Items can can be sent to the buyer at the buyer’s expense or collected from our offices in Northamptonshire, by prior appointment.

9. NON-PAYMENT OR FAILURE TO COLLECT

9.1 If the Purchase Price is not paid in full, HE 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:-

9.1.1 to store (either at HE’s premises or elsewhere) and insure the Lot at the expense of the Buyer;

9.1.2 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 6.2;

9.1.3 to retain that or any Lot sold to the same Buyer at the same or any other auction of HE and to release it only after payment of the total amount due;

9.1.4 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 HE’s possession for any purpose.

9.1.5 take such steps as HE 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;

9.1.6 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 HE on its election and HE 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 HE which would have been payable had the contract not been rescinded;

9.1.7 to appoint a solicitor and/or other agent to pursue any of the courses of action referred to in this clause 9, and the Seller hereby authorises HE 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 HE 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 HE or the Seller and those awarded by any Court or Tribunal.

9.2 If the Buyer fails to make payment within 14 days after the date and time referred to in clause 6.2, HE 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 HE 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.

9.3 If the Lot is not taken away on the date and time referred to in the Key Sale Information in the Auction Catalogue, whether or not the Purchase Price has been paid, HE shall remove, store (either at HE’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.

10. LIABILITY OF HE AND THE BUYER

10.1 Buyers are solely responsible for ensuring that 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 1 and 2 above.

10.2 In bidding for any Lot, the Buyer acknowledges that he does not rely on any representation made to him by HE, its employees or agents.

10.3 This contract is made for the benefit of HE, the Seller, and the Buyer, and save where the Buyer acts as agent for a named principal in accordance with Clause 4.1, 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.