SOLD
25,000.00GBP+ buyer's premium + applicable fees & taxes.
This item SOLD at 2017 Sep 26 @ 12:41UTC+1
Did you win this lot?
A full invoice should be emailed to the winner by the auctioneer within a day or two.
Marty McFly's (Michael J. Fox) light-up 2015 Nike shoes from Robert Zemeckis' sci-fi sequel Back to the Future Part II. Doc Brown (Christopher Lloyd) gave Marty self-lacing shoes when they time-travelled to the futuristic Hill Valley.
Designed by Nike shoe veteran Tinker Hatfield, these shoes represented a futuristic take on the classic Nike brand. Several versions were created in order to achieve the various special-effects requirements for the self-lacing sci-fi shoes; this pair is a light-up walk-around version. The high-top sneakers feature a soft grey canvas panel with the Nike logo glued to the side, and blue-flecked foam sole around the perimeter. The sneakers are outfitted with LED lights on the side of the heel, and an illuminating 'NIKE' logo on the ankle strap. The heels showcase 'NIKE MAG' adhered to the foam.
These shoes have underdone sympathetic and stabilization, especially to the blue-speckled foam soles which had hardened and cracked throughout the years. Additional electronic work has been carried out to restore the light-up elements of the shoes. The EL sheets have been replaced, however the originals are included with the lot. One of the original EL sheets is marked with the date '11-7-88'. The lot remains in good restored condition and includes a custom-made display base. Dimensions: 25 cm x 30 cm x 24 cm (10'' x 12'' x 9 1/2'')
This item contains electronic components. While every effort is made to describe them accurately, no guarantee or warranty is made as to functionality, lifespan or safety of those components. It is entirely incumbent on the new owner to satisfy themselves as to their safe use and maintenance.
£25,000 - 35,000
VAT Status - Omega
Auction Location:
1 Charlie Chaplin Walk, Waterloo, London, SE1 8XR, United Kingdom
Previewing Details:
3 week exclusive Preview Exhibition At The BFI IMAX Waterloo
7th - 26th September 2017*
1 Charlie Chaplin Walk, London, SE1 8XR
*Exhibtion will be closed on the 15th September
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
22% |
Additional Fees:
Shipping Details:
Shipping
We strongly advise all bidders to request a shipping quote prior to bidding.
Buyer pays all shipping costs. The buyer is responsible for all fees including duties, taxes, VAT, customs and other charges for items shipped. All property must be shipped at the buyers expense. It is each buyers sole obligation and responsibility to be aware of, to comply with, and to bear all relevant import duties, taxes, VAT, customs and other fees charged by buyers local government and/or tax authority. Prop Store will ship all packages with the full value of the goods declared. Buyer understands and agrees that Prop Store shall have no obligation or responsibility for any import duties, taxes, VAT, customs, shipping or other charges for the items shipped.
It is the Buyers responsibility to ensure that any property purchased from Prop Store enters the shipping location lawfully, that all duties and taxes have been paid and that all required export procedures, regulations, and laws were properly complied with. Buyer understands and agrees that Prop Store shall have no obligation or responsibility for complying with any export procedures, regulations, or laws applicable to the property.
In the event that a customer refuses to accept a shipment due to import duty charges, and the item is returned to Prop Store, the customer shall be subject to a charge of 20% of the purchase price of the returned item, plus all shipping charges incurred in the shipment and return shipment of the item. The balance of the price paid for the item will be issued only as a store credit to be used against future purchases. Store credits are proprietary to each office of Prop Store, and may not be transferred to another office.
Payment Details:
Payment is due within 7 working days from receipt of invoice and must be made by the Buyer. Payments from any other source will not be accepted and shall be returned by Prop Store.
5.2.2. Payment must be in Pounds Sterling and may be made by electronic transfer, debit card, credit card (up to a maximum of 25,000) bankers draft or cheque (drawn on a U.K. bank account note cheque clearance can take between 5 and 10 working days) or cash (up to a maximum of 5,000). Please note that the Credit Card Fee will be charged and payable in addition to the Purchase Price on any amounts paid by credit card. Please quote the Lot number, invoice number and Bidder registration number when making payment to ensure it can be processed as efficiently as possible.
5.2.3. Credit card payments are only acceptable on the express understanding that the Lot is not returnable, refundable nor exchangeable and no charge card credit or refund of the Credit Card Fee may be issued in the event of any such return. If payment is made by credit card, Buyer will not undertake any action or effort to stop payment, seek a refund, or attempt a charge back of such amounts or any Credit Card Fee assessed thereon by the issuer of the credit card.
5.2.4. [] These lots are sold under standard VAT rules. For buyers within the EEC, 20% VAT will be due on the hammer price; 20% VAT will also be due on the Buyers premium (as well as Credit Card Fee if applicable). If EEC based buyer is a business outside of the U.K. who has provided their VAT number, no VAT will be due. When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT will be due on the hammer price; 20% VAT will be due on the Buyers premium only (as well as Credit Card Fee if applicable); unless items are exported to a registered business outside the EEC, in which case no VAT is due.
[] These lots have been temporarily imported from outside the EEC for sale at auction in London. For buyers within the EEC (private individuals or registered businesses), 5% VAT will be due on the hammer price; 20% VAT will also be due on the Buyers premium (as well as Credit Card Fee if applicable). When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT will be due.
[?] These lots are sold under the margin scheme. For buyers within the EEC (private individuals or registered businesses), no VAT will be due on the hammer price; 20% VAT will be due on the Buyers premium (as well as Credit Card Fee if applicable). When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT is due.
Accepted Payment Methods:
- VISA
- Master Card
- AMEX
- COD (cash on delivery)
- Wire Transfer
CONTRACTS
All accepted bids are contracts and are considered final and non withdrawable.
BUYERS PREMIUM
A buyers premium of 22% will be applied to all purchases.
ONLINE BIDDING
The person posting the bids online has to be the person who has registered for the auction.
Terms and Conditions
These Terms and Conditions of Sale (Conditions) set out the legal relationship between the Bidder/Buyer and Prop Store and the Seller. By registering to bid and participate in a Prop Store Auction, you will be deemed to have read and agreed to be bound by these Conditions and the accompanying Buyers Guide, as set forth in the catalogue for the Auction and online at www.propstore.com.
1. Interpretation
These Conditions shall include the terms set out in the Prop Store Live Auction Buyers Guide, a copy of which has been made available to the Bidder. In the event of any conflict between these Conditions and the Buyers Guide, these Conditions shall take precedence.
2. Definitions
2.1. When the following words are used in these Conditions, they mean:
AuctionA live sale by auction hosted by Prop Store
BidderAny person, properly registered and approved by Prop Store to participate in the Auction who makes or considers making a bid to buy a Lot at Auction
BuyerThe person or organisation making the highest bid or offer for a Lot accepted by the auctioneer, including a principal bidding as agent
Buyers PremiumA commission of 22% (plus VAT if applicable) of the Hammer Price for a Lot, payable by the Buyer to Prop Store
Conditions of SaleProp Stores terms and conditions of sale at auction, from time to time as may be amended
Credit Card FeeAn additional 2% (plus VAT if applicable) of the aggregate amount of the Hammer Price and Buyers Premium plus any relevant VAT, charged to the Buyer, if the Purchase Price is paid by credit card
Gaurantee of AttributionProp Stores limited guarantee relating to the provenance of each Lot, given to the extent set out in Condition 10 of these Conditions
Hammer PriceThe highest bid for a Lot accepted by the auctioneer at the Auction or the post-Auction sale price of that Lot
LotEach item or group of items consigned by the Seller to Prop Store to be made available for sale at an Auction, as detailed in the catalogue
Prop StoreProp Store Limited (company number 08622002) of Great House Farm, Chenies, Rickmansworth, WD3 6EP
Purchase PriceThe Hammer Price plus Buyers Premium (plus VAT if applicable)
Reserve Price(where applicable) the minimum price at which the Seller has authorised Prop Store to sell a Lot
SellerThe person or organisation offering the Lot for sale, including their agents or personal representatives
3. Prop Store as agent
3.1. Unless expressly agreed otherwise, Prop Store acts as agent for the Seller. The contract for the sale of the Lot is made between the Seller and the Buyer.
4. Catalogue descriptions and condition of Lots
4.1. All Lots are sold subject to their condition at the date of the Auction. The nature and age of the Lots means they are often unique and are likely to have wear and tear, damage and other imperfections and may have been totally or partially restored or repaired. By making a bid, the Bidder accepts the actual condition of the Lot and acknowledges that if a bid is successful, the Buyer will buy the Lot as is.
4.2. Prop Stores staff are not professional restorers so descriptions of Lots, images and statements of condition in Prop Stores brochure or on its website are for illustrative purposes only. Prop Store cannot guarantee that colours are properly shown. Save for Prop Store Terms of Guarantee of Attribution all Lots are sold as is. Bidders are encouraged to inspect Lots and satisfying themselves as to condition before bidding, taking independent professional advice where required.
4.3. Condition reports are available for each report upon request
4.4. Film posters in the sale include condition abbreviations: M = mint; EX = excellent; VG = very good; G = good; F = fair
4.5. Lots are sold only as collectibles and unless stated expressly to the contrary, Prop Store makes no representation or warranty that any Lot is fit for any other purpose.
4.6. Mannequins, display stands, scale measures and other display equipment are not included with the Lots unless expressly stated in the Lot description in the catalogue.
4.7. Estimates are simply a guide and should not be relied upon as to advice on value or the ultimate Purchase Price, which could be significantly higher.
5. Before the Auction
5.1. Every Bidder must register with Prop Store (including providing evidence of identity) in accordance with the Buyers Guide. Personal information shall be used only in accordance with Condition 8 below.
5.2. From time to time, Prop Store may offer a Lot which it owns in whole or in part or in which it has a financial interest and any such Lot will be identified in the catalogue with the symbol next to its Lot number.
5.3. Bidders are aware that, due to the one-of-a-kind nature of the materials, Prop Store only guarantees the provenance of Lots to the extent set out in the Terms of Guarantee of Attribution, and Prop Store will not accept returns of any material and will not issue refunds, credits or exchanges except as provided for in the Guarantee of Attribution.
5.4. As a courtesy to Buyers, Prop Store offers interest free payment plans on all auction Lots (see Condition 7.3 of the Conditions of Sale).
6. At the Auction
6.1. Prop Store reserves the right to refuse admission and/or participation at the Auction and to reject any bid. Bids may not be accepted from unregistered bidders and all Bidders must be 18 or over.
6.2. All bids must be made in GBP Sterling. The auctioneer has the right to exercise reasonable discretion in refusing any bid, advancing the bidding in such a manner as he may decide, withdrawing or dividing any Lot, combining any two or more Lots and, in the case of error or dispute, and whether during or after the sale, determining the successful Bidder, continuing the bidding, cancelling the sale or reoffering and reselling the Lot in dispute. If any dispute arises after the sale, then, in the absence of any evidence to the contrary the sale record maintained by the auctioneer will be conclusive.
6.3. Unless otherwise indicated, all Lots are offered subject to a Reserve Price. The Reserve Price will not exceed the low estimate printed in the catalogue. The Reserve Price will not be more than the lowest estimate given by Prop Store. Prop Store may disclose or keep confidential the Reserve Price at its entire discretion.
6.4. The auctioneer may open the bidding on any Lot below the Reserve Price by placing a bid on behalf of the Seller. The auctioneer may continue to bid on behalf of the Seller up to the amount of the Reserve Price, either by placing consecutive bids or by placing bids in response to other Bidders.
6.5. When making a bid, every Bidder acknowledges that such bid is a binding offer to buy the Lot at that price (plus the Buyers Premium, Credit Card Fee (if applicable), all applicable taxes and any and all shipping charges, storage and other costs). A successful Bidder will be deemed to be the Buyer unless it has been explicitly agreed in writing with Prop Store before the start of the Auction that the Bidder is acting as agent on behalf of an identified third party acceptable to Prop Store (and registered with Prop Store), and only then will Prop Store regard that third party as the Buyer. In such circumstances, the Bidder acting as agent confirms that he is authorised to bind the third party and that the Buyer has been made aware of and accepts these Conditions.
6.6. Prop Store will use reasonable efforts to execute written bids delivered before the Auction for Bidders unable to attend the auction in person, by an agent or by telephone or online. All such written bids must be made on Prop Stores Absentee Bids Form (in the catalogue).
6.7. If Prop Store receives written bids on a particular Lot for identical amounts, and at the auction these are the highest bids on the Lot, it will be sold to the person whose written bid was received and accepted first.
6.8. Online bidding at Prop Store Auctions is made available via third party service providers and use of their services and all online bidding is subject to their respective terms of use.
6.9. The Auction will be tracked on a video or digital screen, which may display, among other things, a photograph of the Lot offered for sale and the then-current bid. Bidders understand and agree that errors may occur in its operation and, except as expressly stated in the Buyers Guide or these Conditions, Prop Store shall have no liability arising out of or related to any errors or omission in respect thereto.
6.10. By participating in and/or attending the Auction and signing the registration form, each person consents to be filmed and/or photographed and agrees and authorises Prop Store to use and publish such film and/or photographs, name and likeness for use in (1) providing online access to the Auction, (2) recording the results of the Auction, (3) print, digital, online and all other media for marketing purposes (including without limitation, on Prop Stores website, YouTube and other online platforms) and (3) in any other Prop Store publications of whatever nature. The participant releases Prop Store and holds it harmless from any reasonable expectation of confidentiality or privacy associated with such images and releases Prop Store and any third parties involved in the making, creation or publication of the images or any marketing or other materials from all and any liability for claims made in respect of such publication. Publication of the images in whatever format confers no right of ownership on the individual or right to royalties or payment.
6.11. Subject to the auctioneers reasonable discretion, the Bidder placing the highest bid accepted by the auctioneer will be the Buyer and the striking of his hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Seller and the Buyer. Risk and responsibility for the Lot (including frames or glass where relevant) passes to the Buyer on the date seven calendar days from the date of the sale or on collection by the Buyer if earlier and the Buyer should arrange insurance cover for the Lot if required.
7. After the Auction
7.1. Prop Store will notify successful Bidders and send (by email unless requested otherwise) a payment invoice setting out the Purchase Price and itemising the Hammer Price and Buyers Premium plus any applicable VAT within 7 working days of the end of the Auction.
7.2. Unless a payment plan (as set out in condition 7.3 below) has been agreed by Prop Store, payment is due within 7 working days from receipt of invoice and must be made by the Buyer. Payments from any other source will not be accepted and shall be returned by Prop Store.
7.3. Payment plans will be available in 1, 2, or 3 month increments. Bidders wishing to utilise the payment plan service, if approved by Prop Store, will be responsible for paying a 20% deposit on their Lots within 7 calendar days of receiving their invoice. The balance will then be split over 1, 2 or 3 months per the Buyers selection. If the 1 month option is selected, the remaining balance on the Lot will be due 30 days after the deposit date. If the 2 month option is selected, half of the remaining balance will be due 30 days after the deposit date and the remaining half 30 days after that, and so on.
7.4. Prop Store offers no grace period on payment plan deadlines. If the Buyer does not adhere to payment deadline as agreed under the terms of the payment plan, the Buyer will have defaulted. In the event of default all funds already paid to Prop Store will be forfeited by the Buyer, and title of the Lot will not transfer to Buyer. Prop Store and the Seller shall also be entitled to all remedies for non-payment as described below and at law.
7.5. Title in the Lot will pass to Buyer and the Lot will be made available for collection by the Buyer only when Prop Store is completely satisfied that all monies owing have been paid in full.
7.6. Payment must be in Pounds Sterling and may be made by electronic transfer, debit card, credit card (up to a maximum of 25,000), bankers draft or cash (up to a maximum of 5,000). Please note that the Credit Card Fee will be charged and payable in addition to the Purchase Price on any amounts paid by credit card. Please quote the Lot number, invoice number and Bidder registration number when making payment to ensure it can be processed as efficiently as possible.
7.7. Credit card payments are only acceptable on the express understanding that the Lot is not returnable, refundable nor exchangeable and no charge card credit or refund of the Credit Card Fee may be issued in the event of any such return. If payment is made by credit card, Buyer will not undertake any action or effort to stop payment, seek a refund, or attempt a charge back of such amounts or any Credit Card Fee assessed thereon by the issuer of the credit card.
7.8. [] These lots are sold under standard VAT rules. For buyers within the EEC, 20% VAT will be due on the hammer price; 20% VAT will also be due on the Buyers premium (as well as Credit Card Fee if applicable). If EEC based buyer is a business outside of the U.K. who has provided their VAT number, no VAT will be due. When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT will be due on the hammer price; 20% VAT will be due on the Buyers premium only (as well as Credit Card Fee if applicable); unless items are exported to a registered business outside the EEC, in which case no VAT is due.
[] These lots have been temporarily imported from outside the EEC for sale at auction in London. For buyers within the EEC (private individuals or registered businesses), 5% VAT will be due on the hammer price; 20% VAT will also be due on the Buyers premium (as well as Credit Card Fee if applicable). When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT will be due.
[?] These lots are sold under the margin scheme. For buyers within the EEC (private individuals or registered businesses), no VAT will be due on the hammer price; 20% VAT will be due on the Buyers premium (as well as Credit Card Fee if applicable). When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT is due.
[US] These lots are currently located in Prop Stores Los Angeles facility and will ship directly to the buyer from the Los Angeles facility. For buyers within the EEC (private individuals or registered businesses), no VAT will be charged by Prop Store on the hammer price; 20% VAT will be due on the Buyers premium (as well as Credit Card Fee if applicable.) For buyers outside the EEC, no VAT will be charged by Prop Store.
If the item is imported to the EEC, VAT will be due on the hammer price at the appropriate rate when the item is imported into the EEC as it would on any international shipment. The specific VAT rate charged will depend on the country of importation. It may be possible for the Buyer to import the purchased items as collectors items in order to ensure a lower rate of VAT (and nil duty). However, as necessary, the Buyer should consider taking advice in order to confirm the position and ensure the correct import procedure is followed. Importation to non-EEC countries outside of the US may also incur import duties.
It is the Buyers sold obligation and responsibility to be aware of, to comply with, and to pay for all relevant import duties, taxes, VAT, customs and other fees charged in the Buyers local jurisdiction.
7.9. The Buyer will not acquire title to the Lot until all amounts due to the Seller and Prop Store from the Buyer have been received by Prop Store in cleared funds even in circumstances where Prop Store has released the Lot to the Buyer.
7.10. By registering for this auction the Buyer authorises Prop Store to charge the credit card provided at registration for all Lots purchased at the auction, and any future auction a Bidder may participate in, if not paid in full within 7 calendar days after the auction close.
7.11. If the Buyer does not make any payment due to Prop Store by the due date for payment, Prop Store may charge interest on the overdue amount at the rate of 5% a year above the base lending rate of LloydsTSB Bank plc from time to time. This interest shall accrue on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after judgment. The Buyer must pay Prop Store interest together with any overdue amount.
7.12. In addition to its rights in condition 7.11 and at law, in the event of default by the Buyer, Prop Store may take one or more of the following actions:
7.12.1. hold the Buyer liable for the total amount due and commence legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law;
7.12.2. cancel the sale;
7.12.3. resell the Lot publicly or privately on such terms as Prop Store shall think fit;
7.12.4. pay the Seller an amount up to the net proceeds payable in respect of the Hammer Price;
7.12.5. set off against any amounts which Prop Store may owe to the Buyer in any other transactions, some or all of the outstanding amount remaining unpaid by the Buyer;
7.12.6. apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not the Buyer so directs;
7.12.7. reject at any future auction any bids made by or on behalf of the Buyer or to require a deposit from the Buyer before accepting any further bids;
7.12.8. exercise all the rights and remedies of a person holding security over any Lot in Prop Stores possession owned by the Buyer, whether by way of pledge, security interest or in any other way, to the fullest extent permitted by the law of the place where such Lot is located. The Buyer will be deemed to have granted such security to Prop Store and it may retain such Lot as collateral security for such Buyers obligations;
7.12.9. take such other action as Prop Store deems necessary or appropriate. If Prop Store resells the Lot under condition 7.12.3 above, the Buyer shall be liable for payment of any deficiency between the total amount originally due to Prop Store and the amount received upon resale as well as all reasonable costs, expenses, damages, legal fees and commissions and premiums of whatever kind associated with both sales or otherwise arising from the default. If Prop Store pays any amount to the Seller under condition 7.12.4 above, the Buyer acknowledges that Prop Store shall have all of the rights of the Seller, however arising, to pursue the Buyer for such amount.
7.13. Prop Store shall be entitled to retain Lots sold until all amounts due have been received in full in good cleared funds or until the Buyer has performed any other outstanding obligations as Prop Store shall reasonably require. Subject to this, the Buyer shall collect, or have shipped or collected for shipment, purchased Lots within 7 calendar days from the date of the sale unless otherwise agreed between Prop Store and the Buyer. Lots can be collected in person by appointment only.
7.14. Each Lot will require a custom packing service and by bidding on a Lot a Bidder agrees to pay all relevant shipping costs. Prop Stores carrier of choice is FedEx, although some Lots will require special freight service. Potential shipping estimates can be obtained by emailing support@propstore.com detailing the Lot number of interest and the shipping address prior to the auction.
7.15. Prop Store recommends working with its preferred third-party independent freight agent Precision Cargo on any questions regarding importing and exporting Lots.
7.16. Although Prop Store shall use reasonable efforts to take care when selecting third parties for these purposes, the Buyer will contract directly with such third party and Prop Store accepts no liability or responsibility for the acts or omissions of any such third parties. Similarly, where Prop Store suggests other handlers, packers or carriers, its suggestions are made on the basis of its general experience of such parties in the past and Prop Store is not responsible to any person to whom it has made a recommendation for the acts or omissions of the third party concerned.
7.17. It is the Buyers sole obligation and responsibility to be aware of, to comply with, and to pay for all relevant import duties, taxes, VAT, customs and other fees charged in the Buyers local jurisdiction. Prop Store will ship all packages with the full value of the Lot declared. Buyer understands and agrees that Prop Store shall have no obligation or responsibility for any import duties, taxes, VAT, customs, shipping or other charges for the Lots shipped. Failure by the Buyer to pay all necessary amounts may result in the relevant authorities returning the Lot to Prop Store and in those circumstances the Buyer will be charged and will pay storage cost and Prop Stores additional reasonable costs and expenses.
7.18. It is the Buyers responsibility to ensure that any Lot purchased from Prop Store enters the shipping location lawfully, that all duties and taxes have been paid and that all required export procedures, regulations, and laws were properly complied with. Buyer understands and agrees that Prop Store shall have no obligation or responsibility for complying with any export procedures, regulations, or laws applicable to the Lot.
7.19. Unless otherwise agreed by Prop Store in writing, the fact that the Buyer wishes to apply for an export licence does not affect or postpone the Buyers obligation to make payment in accordance with Prop Stores payment terms nor Prop Stores right to charge interest or storage charges on late payment. If the Buyer requests Prop Store to apply for an export licence on his or her behalf, Prop Store shall be entitled to make a charge and be paid for this service. Prop Store shall not be obliged to rescind or cancel a sale nor to refund any monies paid by the Buyer to Prop Store as a result of or related to the Buyers failure or inability to obtain an export license.
7.20. Where Lots are not collected within 14 calendar days from the due date of payment, whether or not payment has been made, a storage fee of 3% of the Hammer Price per month shall be charged to the Buyer. If the Buyer has failed to pay the Purchase Price and the cost of shipping and handling, Prop Store, at its option may cancel the sale.
8. Use of information
8.1. Prop Store will hold all personal information provided by the Bidder at registration and the Bidder agrees and consents to such information being used by Prop Store to:
8.1.1. make available each Lot for shipping to the Buyer;
8.1.2. process the Buyers payment;
8.1.3. contact credit reference agencies and keep records of any searches carried out on Prop Stores behalf;
8.1.4. inform the Bidder about other auctions, products and services provided by Prop Store and its affiliates (please contact Prop Store by email at enquiries@propstore.com or by phone +44 (0)1494 766485 if you wish to stop receiving these).
9. Liability
9.1. If Prop Store fails to comply with these Conditions it is responsible for loss or damage a Buyer suffers that is a foreseeable result of Prop Stores breach or its negligence. Prop Store is not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if an obvious consequence of Prop Stores breach or if contemplated by the Buyer and Prop Store at the time the hammer falls on the Lot at the Auction.
9.2. Subject to condition 9.3, Prop Stores liability shall be limited to the amount actually paid for the Lot by the Buyer. Save to the extent required by law, in no event shall Prop Store be liable for incidental or consequential damages of any kind.
9.3. Prop Store does not exclude or limit its liability for:
9.3.1. death or personal liability caused by its negligence or the negligence of its employees, agents or subcontractors;
9.3.2. fraud or fraudulent misrepresentation; and
9.3.3. breach of the terms implied by sections 12, 13, 14 and 15 of the Sale of Goods Act 1979 (title, description, quality and fitness for purpose) save to the fullest extent permissible at law.
10. Terms of Guarantee of Attribution
10.1. Prop Store warrants that the provenance of each Lot is the film production stated in the title block of that Lot in the Auction catalogue, subject to any revisions (which may be given in writing or online before or during the Auction at which the Lot is purchased by the Buyer); this is Prop Stores Guarantee of Attribution. Buyers should be aware that multiple examples of props and costumes are frequently used during production and it is often impossible to determine whether a specific prop has been used on-camera. Any specific on-camera usage known to Prop Store will be noted within the description, but no warranties are given by Prop Store on that description.
10.2. If a Buyer demonstrates, to Prop Stores reasonable satisfaction, that the Guarantee of Attribution is materially incorrect, the sale will be rescinded if the Lot is returned to Prop Store in the same condition in which it was at the time of sale. In order to satisfy Prop Store that the Guarantee of Attribution is materially incorrect, Prop Store reserves the right to require the Buyer to obtain, at the Buyers expense, the opinion of two experts in the field, mutually acceptable to Prop Store and the Buyer.
10.3. In the event a sale is rescinded in accordance with condition 10.2, Prop Store shall repay to the Buyer the Purchase Price. Repayment of the Purchase Price shall be the Buyers sole remedy, to the exclusion of all other remedies to the extent permissible at law. it is specifically understood that this will be considered the sole remedy.
10.4. The Buyer expressly agrees that Prop Store shall not be liable in whole or in part, for, and the Buyer shall not be entitled to recover, any special, indirect, incidental or consequential damages including loss of profits or value of investment or opportunity cost.
10.5. Bidders are aware that description revisions may occur on some Lots, and should inquire before the Auction whether any description revisions have occurred on a given Lot and/or examine a lot before bidding on it. Prop Store will make all reasonable efforts to make description revisions readily available during the Auction.
10.6. Except as expressly provided in these Conditions Prop Store shall have no liability to the Buyer in respect of a Lot and all and any implied warranties and conditions are excluded to the fullest extent permitted by law.
11. Intellectual property rights
11.1. The copyright in all images, illustrations and written material produced by or for Prop Store relating to a Lot (including the contents of the Auction catalogue), is and shall remain at all times the property of Prop Store and shall not be used by the Buyer, nor by anyone else, without Prop Stores written consent. Prop Store and the Seller make no representation or warranty that the Buyer of a Lot will acquire any copyright or other reproduction rights in it.
11.2. In the catalogue descriptions, Prop Store takes steps to identify and provide provenance for Lots offered at auction. In many cases, the Lots offered were used in or in conjunction with motion pictures or other programmes and information is furnished in order to fully identify and describe the Lot offered at Auction, including photographs and illustrations. Prop Store in no way claims any connection to or relationship with the producers of the motion picture or other programme. In all cases, the use of the titles or other elements of a motion picture or other programme is for informational purposes only.
12. Events outside our control
Prop Store will not be liable or responsible for any failure to perform, or delay in performance of, any of its obligations under these Conditions that is caused by an event outside its control, that being any act or event beyond Prop Stores reasonable control, including without limitation strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks. Prop Stores obligations shall be suspended and time for performance extended until such time as the event outside its control is over, following which a new collection or shipping date can be agreed.
13. Other important terms
13.1. If any part of these Conditions is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the Conditions shall continue to be valid to the fullest extent permitted by law.
13.2. The contract is between the Seller, Buyer and Prop Store and no other person shall have any rights to enforce any of its terms.
13.3. If Prop Store fails to insist on performance of any of a Buyers obligations under these Conditions, or if it delays in doing so, that will not mean that Prop Store has waived its rights against the Buyer and does not mean the Buyer no longer has to comply with those obligations.
13.4. These Conditions are governed by English law. Prop Store and the Bidder/Buyer both agree to submit to the exclusive jurisdiction of the English courts.
13.5. By registering for this auction, the supplied card will automatically have a sum of 0.01 held and subsequently returned within 30 working days to verify the validity of the card.
13.6 The buyer is solely responsible for ascertaining that each lot sold with copyright is otherwise cleared for publication including but not limited to satisfying any publicity right that persons appearing in an image may have under any statute or common law. Neither the consignor nor Prop Store Ltd makes any representation or warranty as to any matters that need to be cleared prior to publication. No representation or warranty is made regarding copyright outside of the United Kingdom. All publication issues should be referred to the buyers own professional advisors. All representations or warranties as to copyright or rights to publish are solely made by the consignor and not Prop Store Ltd; the buyer agrees that Prop Store Ltd. will not be liable to Buyer in any respect for alleged breach of any such representation or warranty.
---------------------------------------------------------------------------------------------------
BUYERS GUIDE
1. Introduction
This Buyers Guide contains a brief overview of Prop Stores auction process and the terms under which Lots are made available for sale at auction. A more detailed statement of our Terms and Conditions of Sale follows after this Buyers Guide. Please read the Buyers Guide and the Terms and Conditions of Sale carefully. By registering to bid and participate in a Prop Store auction, you will be deemed to have agreed to be bound by them.
2. Definitions
2.1. When the following words are used in this Buyers Guide, they mean:
AuctionA live sale by auction hosted by Prop Store
BidderAny person, properly registered and approved by Prop Store to participate in the Auction who makes or considers making a bid to buy a Lot at Auction
BuyerThe person or organisation making the highest bid or offer for a Lot accepted by the auctioneer, including a principal bidding as agent
Buyers PremiumA commission of 22% (plus VAT if applicable) of the Hammer Price for a Lot, payable by the Buyer to Prop Store
Conditions of SaleProp Stores terms and conditions of sale at auction, from time to time as may be amended, a copy of which appears in the Buyers Guide
Credit Card FeeAn additional 2% (plus VAT if applicable) of the aggregate amount of the Hammer Price and Buyers Premium plus any relevant VAT, charged to the Buyer, if the Purchase Price is paid by credit card
Guarantee of AttributionProp Stores limited guarantee relating to the provenance of each Lot, given to the extent set out in Condition 10 of the Terms and Conditions of Sale
Hammer PriceThe highest bid for a Lot accepted by the auctioneer at the Auction or the post-Auction sale price of that Lot
LotEach item or group of items consigned by the Seller to Prop Store to be made available for sale at an Auction, as detailed in the catalogue
Prop StoreProp Store Limited (company number 08622002) of Great House Farm, Chenies, Rickmansworth, WD3 6EP
Purchase PriceThe Hammer Price plus Buyers Premium (plus VAT if applicable)
Reserve Price(Where applicable) the minimum price at which the Seller has authorised Prop Store to sell a Lot
SellerThe person or organisation offering the Lot for sale, including their agents or personal representatives
3. Before the Auction
3.1. Bidder Registration
3.1.1. Every person or organisation wishing to make a bid is required to register with Prop Store before participating at an Auction.
3.1.2. To register, the registration form (available in this Buyers Guide or online at www.propstore.com) must be completed in full and Prop Store provided with valid Visa, MasterCard or American Express credit card details to be held on file; and
3.1.2.1. an individual must provide Prop Store with up to date, valid government-issued photo identification (e.g. passport, national identity card) and proof of current address (such as a utility bill or bank statement dated within the last three months);
3.1.2.2. an organisation must provide a certified copy or original certificate of incorporation, or, in the case of unregistered entities, other evidence satisfactory to Prop Store contact Prop Store on +44 (0)1494 766485 for confirmation of what will be acceptable;
3.1.2.3. a person registering as an agent to bid on behalf of a third party must bring the appropriate identification documents as set out above for themselves and for the third party on whose behalf they are authorised to make a bid and provide to Prop Store a signed authorisation from the third party confirming their authority to participate at the Auction on that third partys behalf.
3.2. Pre-Auction Viewing
3.2.1. Over 250 of the Lots can be previewed at the public exhibition held at ODEON BFI IMAX, 1 Charlie Chaplin Walk, Waterloo, London SE1 8XR. Please inquire if the lot you are interested in is included in the exhibition.
3.2.2. During the Pre-Auction Viewing period, as set forth in the Auction catalogue, any Bidder may preview Lots not present in the public exhibition free of charge by appointment with Prop Store.
3.3. Delivery costs
3.3.1. Without any liability, Prop Store can provide shipping estimates before the Auction; a Bidder requiring this information should email support@propstore.com including the Lot number and shipping address at least 3 days before the start of the Auction.
3.4. Bidders outside the U.K.
3.4.1. If the Bidder is based outside the United Kingdom, the Bidder should ensure in advance of the Auction that the Lot can be exported from the U.K. and imported into the country of destination. No sale will be cancelled because the Lot may not be imported into the country of destination.
3.4.2. Prop Stores recommended third-party independent freight agent, Precision Cargo, can advise Bidders on relevant export licensing regulations and may submit export licence applications upon request. Neither Prop Store nor its freight agents can guarantee that any licences, permits or consents will be granted.
4. At the Auction
4.1. Estimates
4.1.1. Estimates represent Prop Stores guide to Bidders and do not give any indication or representation of actual values or likely bids. Estimates do not include any Buyers Premium, Credit Card Fee or VAT.
4.1.2. Prop Store reserves the right to amend its estimates from time to time
4.2. Reserve Price
4.2.1. The Reserve Price is the minimum price the Seller will accept for a Lot. The Reserve Price will not be more than the lowest estimate given by Prop Store. Prop Store may disclose or keep confidential the Reserve Price at its entire discretion.
4.3. Bidding
4.3.1. All bids are by individual Lot unless the auctioneer states to the contrary during the live Auction. Lots will usually be sold in their numbered sequence, unless the auctioneer announces otherwise.
4.3.2. All bids must be made in English only.
4.3.3. The auctioneer may accept bids from Bidders present in the sale room, via telephone, online or written bids delivered to Prop Store before the Auction commences, either using the form in this Buyers Guide or the online form at www.propstore.com.
4.3.4. Telephone Bidders must provide to Prop Store a list of Lots on which they intend to bid at least 24 hours before the start of the Auction. Telephone bids will only be accepted on Lots with low-end estimate of at least 500 and telephone calls may be recorded by or on behalf of Prop Store.
4.3.5. Written bids will be executed at the lowest possible price, taking into account the Reserve Price.
4.3.6. Online bids shall be made in accordance with and subject to the terms of the online auction platform access provider.
4.3.7. The auctioneer may also execute (non-identified) bids on behalf of the Seller up to the Reserve Price only. No bids may be made by the Seller in excess of the Reserve Price.
4.3.8. Save as expressly stated in this Buyers Guide, Prop Store accepts no liability for errors or omission in respect of bids made online, by telephone or in writing.
4.3.9. The auctioneer may accept or decline bids at his entire discretion.
5. After the Auction
5.1. Successful bids
5.1.1. Prop Store will notify successful Bidders and send (by email unless requested otherwise) a payment invoice setting out the Purchase Price and itemising the Hammer Price and Buyers Premium plus any applicable VAT within 7 working days of the end of the Auction.
5.2. Payment
5.2.1. Payment is due within 7 working days from receipt of invoice and must be made by the Buyer. Payments from any other source will not be accepted and shall be returned by Prop Store.
5.2.2. Payment must be in Pounds Sterling and may be made by electronic transfer, debit card, credit card (up to a maximum of 25,000) bankers draft or cheque (drawn on a U.K. bank account note cheque clearance can take between 5 and 10 working days) or cash (up to a maximum of 5,000). Please note that the Credit Card Fee will be charged and payable in addition to the Purchase Price on any amounts paid by credit card. Please quote the Lot number, invoice number and Bidder registration number when making payment to ensure it can be processed as efficiently as possible.
5.2.3. Credit card payments are only acceptable on the express understanding that the Lot is not returnable, refundable nor exchangeable and no charge card credit or refund of the Credit Card Fee may be issued in the event of any such return. If payment is made by credit card, Buyer will not undertake any action or effort to stop payment, seek a refund, or attempt a charge back of such amounts or any Credit Card Fee assessed thereon by the issuer of the credit card.
5.2.4. [] These lots are sold under standard VAT rules. For buyers within the EEC, 20% VAT will be due on the hammer price; 20% VAT will also be due on the Buyers premium (as well as Credit Card Fee if applicable). If EEC based buyer is a business outside of the U.K. who has provided their VAT number, no VAT will be due. When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT will be due on the hammer price; 20% VAT will be due on the Buyers premium only (as well as Credit Card Fee if applicable); unless items are exported to a registered business outside the EEC, in which case no VAT is due.
[] These lots have been temporarily imported from outside the EEC for sale at auction in London. For buyers within the EEC (private individuals or registered businesses), 5% VAT will be due on the hammer price; 20% VAT will also be due on the Buyers premium (as well as Credit Card Fee if applicable). When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT will be due.
[?] These lots are sold under the margin scheme. For buyers within the EEC (private individuals or registered businesses), no VAT will be due on the hammer price; 20% VAT will be due on the Buyers premium (as well as Credit Card Fee if applicable). When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT is due.
5.3. Export and Import
5.3.1. It is the Buyers sole responsibility to arrange and obtain all necessary export/import licences, permits and any other necessary consents before the Lot is shipped.
5.3.2. Prop Stores third-party independent recommended freight agent will be able to deal with enquiries from Bidders and Buyers on importing and/or exporting of Lots. Precision Cargo is Prop Stores freight agent of choice.
5.3.3. With regards to lots exported outside the EEC, if your Lots are shipped by Prop Store or through Prop Stores authorised shipper, you will not be required to pay VAT when settling your invoice. If you are using any other shipper, or hand carrying your Lots outside the EEC, then VAT will be due on the invoice, which will be refunded once acceptable proof of export is provided by your shipper of choice.
5.3.4. To prove export of your Lots, on Lots, obtain HMRC form C88 through Prop Stores authorised shipper, which must be stamped by HMRC upon leaving the U.K.. On or margin scheme Lots, obtain Notice 4 07 from Prop Stores authorised shipper, which must be stamped by HMRC upon leaving the U.K..
In all cases Lots must be exported within no more than 3 months of the sale date, and proof of export must be reported via the appropriate form.
5.4. Shipping and storage
5.4.1. The Buyer is solely responsible for all shipping and delivery costs. Prop Store recommends Lots are custom-packed and recommends FedEx as its carrier of choice. For oversized Lots, Prop Store recommends Precision Cargo.
5.4.2. In the event of delay in shipping or failure to collect a Lot (for a reason outside Prop Stores control) within 14 days of the due date for payment of Prop Stores invoice (or such other date for shipping or collection agreed by Prop Store a storage fee of 3% of the Hammer Price per month shall be charged to the Buyer. If the Buyer has failed to pay the Purchase Price and the cost of shipping and handling, Prop Store, at its option may cancel the sale.
PRIVACY POLICY
Introduction
This is our privacy policy. It tells you how we collect and process data received from you on our site. By visiting www.propstore.com, you are accepting and consenting to the practices described in this policy.
If you have any comments on this privacy policy, please email them to tim@propstore.com.
2. Who We Are
Here are the details that the Data Protection Act 1998 says we have to give you as a data controller:
Our site address is www.propstore.com
Our company name is Prop Store Limited
Our registered address is Bourbon Count, Nightingales Corner, Little Chalfont, Bucks HP7 9QS
Our nominated representative is Tim Lawes
3. What we may collect
We may collect and process the following data about you:
Your name, residential address, telephone number and email address provided by you
Information you put into forms or surveys on our site at any time
A record of any correspondence between us (by phone, email or otherwise)
Details of transactions you carry out through our site
Details of your visits to our site and the resources you use
Information about your computer (e.g. your IP address, browser, operating system, etc.) for system administration and to report aggregate information to our advertisers
4. Cookies
We use cookies to distinguish users and improve our site. Please look at our Cookie Policyhttp://propstore.com/cookie-policy/for more cookie information.
5. How we use what we collect
We use information about you to:
Present site content effectively to you
Provide information, products and services that you request, or (with your consent) which we think may interest you
Administer our site and for internal operations, including troubleshooting, data analysis, testing, research, statistical and survey purposes
Keep our site safe and secure
Carry out our contracts with you (see more in Section 8 below)
Allow you to use our interactive services if you want to
Tell you our charges
Tell you about other goods and services that might interest you. We will also let other people do this, and we (or they) may contact you.
If you are already our customer, we will only contact you electronically about things similar to what was previously sold to you.
If you are a new customer, you will only be contacted if you have consented to it.
If you dont want to be contacted for marketing purposes (by us and/or third parties, please tick the relevant box that you will find on screen to opt out.
Please note: We dont identify individuals to our advertisers, but we do give them aggregate information to help them reach their target audience, and we may use information we have collected to display advertisements to that audience.
6. Where we store your data
We may transfer your collected data to storage outside the European Economic Area (EEA). It may be processed outside the EEA to fulfil your order and deal with payment and/or provide support services.
By giving us your personal data, you agree to this transfer, storing or processing. We will do what we reasonably can to keep your data secure.
Payment will be encrypted. If we give you a password, you must keep it confidential. Please dont share it. Although we try to provide protection, we cannot guarantee complete security for your data, and you accept the risk that any sending data may not be secure despite our efforts.
7. Disclosing your information
We are allowed to disclose your information in the following cases:
If we want to sell our business, or our company, we can disclose it to the potential buyer
We can disclose it to other businesses in our group
We can disclose it if we have a legal obligation to do so, or in order to protect other peoples property, safety or rights
We can exchange information with others to protect against fraud or credit risks.
We can disclose it to business partners, suppliers and contractors for the performance of any contract we enter into with them or you.
We can provide it to analytics and search engine providers that assist us in the improvement and optimization of our site.
We can disclose it in order to enforce our terms and conditions http://www.propstore.com/cms/terms-and-conditions/and any other legal agreements.
8. Use of Information
We will hold all personal information provided by you in our auctions at registration and you agree and consent to such information being used by us to:
make available each Lot you have won for shipping to you;
process your payment;
contact credit reference agencies and keep records of any searches carried out on our behalf;
inform you about other auctions, products and services provided by us and our affiliates (please contact us by email at enquiries@propstore.com or by phone +44 (0)1494 766485 if you wish to stop receiving these)
9. Your rights
You can ask us not to use your data for marketing. You can do this by ticking the relevant boxes on our forms, or by contacting us at any time at tim@propstore.com. The Data Protection Act 1998 gives you the right to see information we hold about you. We can charge you a fee (currently 10) for this service.
10. Links to other sites
Please note that our terms and conditions and our policies will not apply to other websites that you get to via a link from our site. We do not accept any responsibility or liability for data use on such websites.
11. Changes
If we change our Privacy Policy, we will post the changes on this page. If we decide to, we may also email you.
BUYERS GUIDE
1. Introduction
This Buyers Guide contains a brief overview of Prop Stores auction process and the terms under which Lots are made available for sale at auction. A more detailed statement of our Terms and Conditions of Sale follows after this Buyers Guide. Please read the Buyers Guide and the Terms and Conditions of Sale carefully. By registering to bid and participate in a Prop Store auction, you will be deemed to have agreed to be bound by them.
2. Definitions
2.1. When the following words are used in this Buyers Guide, they mean:
AuctionA live sale by auction hosted by Prop Store
BidderAny person, properly registered and approved by Prop Store to participate in the Auction who makes or considers making a bid to buy a Lot at Auction
BuyerThe person or organisation making the highest bid or offer for a Lot accepted by the auctioneer, including a principal bidding as agent
Buyers ExpensesAn amount equivalent to 3% of the Hammer Price (plus VAT if applicable) if the Buyers winning bid was made online, payable by the Buyer to Prop Store
Buyers PremiumA commission of 20% (plus VAT if applicable) of the Hammer Price for a Lot, payable by the Buyer to Prop Store
Conditions of SaleProp Stores terms and conditions of sale at auction, from time to time as may be amended, a copy of which appears in the Buyers Guide
Credit Card FeeAn additional 2% (plus VAT if applicable) of the aggregate amount of the Hammer Price, Buyers Premium and Buyers Expenses plus any relevant VAT, charged to the Buyer, if the Purchase Price is paid by credit card
Guarantee of AttributionProp Stores limited guarantee relating to the provenance of each Lot, given to the extent set out in Condition 10 of the Terms and Conditions of Sale
Hammer PriceThe highest bid for a Lot accepted by the auctioneer at the Auction or the post-Auction sale price of that Lot
LotEach item or group of items consigned by the Seller to Prop Store to be made available for sale at an Auction, as detailed in the catalogue
Prop StoreProp Store Limited (company number 08622002) of Great House Farm, Chenies, Rickmansworth, WD3 6EP
Purchase PriceThe Hammer Price plus Buyers Premium and Buyers Expenses (plus VAT if applicable)
Reserve Price(Where applicable) the minimum price at which the Seller has authorised Prop Store to sell a Lot
SellerThe person or organisation offering the Lot for sale, including their agents or personal representatives
3. Before the Auction
3.1. Bidder Registration
3.1.1. Every person or organisation wishing to make a bid is required to register with Prop Store before participating at an Auction.
3.1.2. To register, the registration form (available in this Buyers Guide or online at www.propstore.com) must be completed in full and Prop Store provided with valid Visa, MasterCard or American Express credit card details to be held on file; and
3.1.2.1. an individual must provide Prop Store with up to date, valid government-issued photo identification (e.g. passport, national identity card) and proof of current address (such as a utility bill or bank statement dated within the last three months);
3.1.2.2. an organisation must provide a certified copy or original certificate of incorporation, or, in the case of unregistered entities, other evidence satisfactory to Prop Store contact Prop Store on +44 (0)1494 766485 for confirmation of what will be acceptable;
3.1.2.3. a person registering as an agent to bid on behalf of a third party must bring the appropriate identification documents as set out above for themselves and for the third party on whose behalf they are authorised to make a bid and provide to Prop Store a signed authorisation from the third party confirming their authority to participate at the Auction on that third partys behalf.
3.2. Pre-Auction Viewing
3.2.1. Over 250 of the Lots can be previewed at the public exhibition held at ODEON BFI IMAX, 1 Charlie Chaplin Walk, Waterloo, London SE1 8XR. Please inquire if the lot you are interested in is included in the exhibition.
3.2.2. During the Pre-Auction Viewing period, as set forth in the Auction catalogue, any Bidder may preview Lots not present in the public exhibition free of charge by appointment with Prop Store.
3.3. Delivery costs
3.3.1. Without any liability, Prop Store can provide shipping estimates before the Auction; a Bidder requiring this information should email support@propstore.com including the Lot number and shipping address at least 3 days before the start of the Auction.
3.4. Bidders outside the U.K.
3.4.1. If the Bidder is based outside the United Kingdom, the Bidder should ensure in advance of the Auction that the Lot can be exported from the U.K. and imported into the country of destination. No sale will be cancelled because the Lot may not be imported into the country of destination.
3.4.2. Prop Stores recommended third-party independent freight agent, Precision Cargo, can advise Bidders on relevant export licensing regulations and may submit export licence applications upon request. Neither Prop Store nor its freight agents can guarantee that any licences, permits or consents will be granted.
4. At the Auction
4.1. Estimates
4.1.1. Estimates represent Prop Stores guide to Bidders and do not give any indication or representation of actual values or likely bids. Estimates do not include any Buyers Premium, Buyers Expenses, Credit Card Fee or VAT.
4.1.2. Prop Store reserves the right to amend its estimates from time to time
4.2. Reserve Price
4.2.1. The Reserve Price is the minimum price the Seller will accept for a Lot. The Reserve Price will not be more than the lowest estimate given by Prop Store. Prop Store may disclose or keep confidential the Reserve Price at its entire discretion.
4.3. Bidding
4.3.1. All bids are by individual Lot unless the auctioneer states to the contrary during the live Auction. Lots will usually be sold in their numbered sequence, unless the auctioneer announces otherwise.
4.3.2. All bids must be made in English only.
4.3.3. The auctioneer may accept bids from Bidders present in the sale room, via telephone, online or written bids delivered to Prop Store before the Auction commences, either using the form in this Buyers Guide or the online form at www.propstore.com.
4.3.4. Telephone Bidders must provide to Prop Store a list of Lots on which they intend to bid at least 24 hours before the start of the Auction. Telephone bids will only be accepted on Lots with low-end estimate of at least 500 and telephone calls may be recorded by or on behalf of Prop Store.
4.3.5. Written bids will be executed at the lowest possible price, taking into account the Reserve Price.
4.3.6. Online bids shall be made in accordance with and subject to the terms of the online auction platform access provider. Successful online bids shall incur Buyers Expenses.
4.3.7. The auctioneer may also execute (non-identified) bids on behalf of the Seller up to the Reserve Price only. No bids may be made by the Seller in excess of the Reserve Price.
4.3.8. Save as expressly stated in this Buyers Guide, Prop Store accepts no liability for errors or omission in respect of bids made online, by telephone or in writing.
4.3.9. The auctioneer may accept or decline bids at his entire discretion.
5. After the Auction
5.1. Successful bids
5.1.1. Prop Store will notify successful Bidders and send (by email unless requested otherwise) a payment invoice setting out the Purchase Price and itemising the Hammer Price, Buyers Premium, and if applicable Buyers Expenses plus any applicable VAT within 7 working days of the end of the Auction.
5.2. Payment
5.2.1. Payment is due within 7 working days from receipt of invoice and must be made by the Buyer. Payments from any other source will not be accepted and shall be returned by Prop Store.
5.2.2. Payment must be in Pounds Sterling and may be made by electronic transfer, debit card, credit card (up to a maximum of 25,000) bankers draft or cheque (drawn on a U.K. bank account note cheque clearance can take between 5 and 10 working days) or cash (up to a maximum of 5,000). Please note that the Credit Card Fee will be charged and payable in addition to the Purchase Price on any amounts paid by credit card. Please quote the Lot number, invoice number and Bidder registration number when making payment to ensure it can be processed as efficiently as possible.
5.2.3. Credit card payments are only acceptable on the express understanding that the Lot is not returnable, refundable nor exchangeable and no charge card credit or refund of the Credit Card Fee may be issued in the event of any such return. If payment is made by credit card, Buyer will not undertake any action or effort to stop payment, seek a refund, or attempt a charge back of such amounts or any Credit Card Fee assessed thereon by the issuer of the credit card.
5.2.4. [] These lots are sold under standard VAT rules. For buyers within the EEC, 20% VAT will be due on the hammer price; 20% VAT will also be due on the Buyers premium (as well as Buyers Expenses and Credit Card Fee if applicable). If EEC based buyer is a business outside of the U.K. who has provided their VAT number, no VAT will be due. When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT will be due on the hammer price; 20% VAT will be due on the Buyers premium only (as well as Buyers Expenses and Credit Card Fee if applicable); unless items are exported to a registered business outside the EEC, in which case no VAT is due.
[] These lots have been temporarily imported from outside the EEC for sale at auction in London. For buyers within the EEC (private individuals or registered businesses), 5% VAT will be due on the hammer price; 20% VAT will also be due on the Buyers premium (as well as Buyers Expenses and Credit Card Fee if applicable). When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT will be due.
[?] These lots are sold under the margin scheme. For buyers within the EEC (private individuals or registered businesses), no VAT will be due on the hammer price; 20% VAT will be due on the Buyers premium (as well as Buyers Expenses and Credit Card Fee if applicable). When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Stores authorised shipper), no VAT is due.
5.3. Export and Import
5.3.1. It is the Buyers sole responsibility to arrange and obtain all necessary export/import licences, permits and any other necessary consents before the Lot is shipped.
5.3.2. Prop Stores third-party independent recommended freight agent will be able to deal with enquiries from Bidders and Buyers on importing and/or exporting of Lots. Precision Cargo is Prop Stores freight agent of choice.
5.3.3. With regards to lots exported outside the EEC, if your Lots are shipped by Prop Store or through Prop Stores authorised shipper, you will not be required to pay VAT when settling your invoice. If you are using any other shipper, or hand carrying your Lots outside the EEC, then VAT will be due on the invoice, which will be refunded once acceptable proof of export is provided by your shipper of choice.
5.3.4. To prove export of your Lots, on Lots, obtain HMRC form C88 through Prop Stores authorised shipper, which must be stamped by HMRC upon leaving the U.K.. On or margin scheme Lots, obtain Notice 4 07 from Prop Stores authorised shipper, which must be stamped by HMRC upon leaving the U.K..
In all cases Lots must be exported within no more than 3 months of the sale date, and proof of export must be reported via the appropriate form.
5.4. Shipping and storage
5.4.1. The Buyer is solely responsible for all shipping and delivery costs. Prop Store recommends Lots are custom-packed and recommends FedEx as its carrier of choice. For oversized Lots, Prop Store recommends Precision Cargo.
5.4.2. In the event of delay in shipping or failure to collect a Lot (for a reason outside Prop Stores control) within 14 days of the due date for payment of Prop Stores invoice (or such other date for shipping or collection agreed by Prop Store a storage fee of 3% of the Hammer Price per month shall be charged to the Buyer. If the Buyer has failed to pay the Purchase Price and the cost of shipping and handling, Prop Store, at its option may cancel the sale.