509
Rolex Oyster Perpetual, a gentleman's stainless steel wristwatch, circa 1950, cream dial with rai...
Currency:GBP
Category:Everything Else / Other
Start Price:NA
Estimated At:400.00 - 600.00 GBP
NOT SOLD (BIDDING OVER)
0.00GBP+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2002 Oct 23 @ 02:00UTC-8 : PST/AKDT
Rolex Oyster Perpetual, a gentleman's stainless steel wristwatch, circa 1950, cream dial with raised gilt Arabic and baton numerals, three piece screw case, No.395631, inscribed verso 'Dr C.G. Terrell O.B.E. 1951', £400-600
Auction Location:
United Kingdom
Previewing Details:
Saturday 19th October 2002, 9.00 a.m.-12.30 p.m., Monday 21st October 2002, 9.30 a.m.-7.00 p.m., Tuesday 22nd October 2002, 9.30 a.m.-4.30 p.m.
Additional Fees:
Shipping Details:
No Info Available
Payment Details:
No Info Available
1. Definitions. In these Conditions Dreweatt Neate act only as auctioneers and agents for the seller and the representative of Dreweatt Neate conducting the auction is called the 'Auctioneer'
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2. General. Whilst Dreweatt Neate make every effort to ensure the accuracy of their catalogues and the description of any lot: -
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Each lot as set out in the catalogue or as divided or combined with any other lot or lots is sold by the seller with all faults, imperfections and errors of description.
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Dreweatt Neate do not accept responsibility for the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any lot unless they have been instructed in writing by the seller to so certify, and in such case the Auctioneers do so as agents of the seller and are not themselves responsible for such claims.
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All statements whether printed in the catalogue or made orally as to any of the matters set out in (b) above are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by Dreweatt Neate unless they have been instructed in writing by the seller to so certify.
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Any claim under any Statute must be received in writing by the Auctioneer within ten days of the day of the sale.
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3. The Auction.
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The Auctioneer has absolute discretion to divide any lot, to combine any two or more lots or withdraw any lot or lots from the sale, to refuse bids, regulate bidding or cancel the sale without in any case giving any reason or without previous notice. He may bid on behalf of the seller for all goods which are being offered subject to reserve or at the Auctioneer's discretion.
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The highest bidder shall be the buyer except in the case of a dispute. The Auctioneer may at his sole discretion determine the advance of bidding or refuse a bid. If during the auction the Auctioneer considers that a dispute has arisen, he has absolute discretion to settle it or to re-offer the lot.
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Each lot is put up for sale subject to any reserve price placed by the seller. Where no reserve has been placed (but not otherwise) the seller has the right to bid either personally or by any one person on his behalf (who may be the Auctioneer).
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All conditions, notices, descriptions, statements and other matters in the catalogue and elsewhere concerning any lot are subject to any statements modifying or affecting the same made by the Auctioneer from the rostrum prior to any bid being accepted for the lot.
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4. Rescission. Notwithstanding any other terms of these Conditions, if within fourteen days after the sale Dreweatt Neate have received from the buyer of any lot notice in writing that in his view the lot is a deliberate forgery and within twenty-one days after such notification the buyer returns the same to Dreweatt Neate in the same condition as at the time of sale and by producing evidence, the burden of proof to be upon the buyer, satisfies Dreweatt Neate that considered in the light of the entry in the catalogue the lot is a deliberate forgery then the sale of the lot will be rescinded and the purchase price of the same refunded. The seller and the buyer agree to be bound by Dreweatt Neate's decision.
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SELLERS CONDITIONS
8. Instructions. As Dreweatt Neate are auctioneers all goods delivered to Dreweatt Neate's premises will be deemed to be delivered for sale by auction unless otherwise stated in writing and will be catalogued and sold at Dreweatt Neate without reserve and accepted by Dreweatt Neate subject to all the Sale Conditions. By delivering the goods to Dreweatt Neate for inclusion in their auction sales each seller acknowledges that he or she has accepted and agreed to be bound by all these conditions.
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9. Collections. Dreweatt Neate do not themselves usually undertake the collection of goods but will, if required in writing, instruct a contractor on the seller's behalf in their capacity as agents. Dreweatt Neate disclaim all responsibility for loss or damage to goods or for unauthorised removal of goods and for damage to premises caused by the contractor who should be insured for such risks. Unless instructions are received to the contrary the charge for these services will be deducted from the proceeds of sale.
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10. Loss or Damage. Dreweatt Neate disclaim all responsibility for loss or damage to goods or for unauthorised removal of goods unless caused by the direct negligence of their employees.
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11. Storage. Dreweatt Neate reserve the right to store or arrange for the storage of goods delivered to them for sale either on their own premises or elsewhere at their sole discretion. They exempt themselves from any liability for loss or damage to goods delivered to their salerooms without sufficient sale instructions and reserve the right to make a storage charge for such goods (unless the loss or damage is caused by the negligence of their employees).
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12. Right to Sell. Sellers will be charged for goods left on the premises if the seller has been requested to remove them, and if the goods are not removed within twenty-one days of such request Dreweatt Neate reserve the right to sell the goods to defray costs and storage charges.
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13. Insurance
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All goods on Dreweatt Neate's premises and in their custody will be held insured against the risks of fire, burglary and water damage for which insurance Dreweatt Neate will charge a premium of £1 per £100 (minimum £1). The value of the goods so covered shall be the gross amount realised, or in the case of unsold lots the best bid, or in the case of loss prior to sale, the reserve price. When no reserve has been fixed, at that price which the staff of Dreweatt Neate shall at their absolute discretion estimate to be the auction value of such goods.
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Dreweatt Neate shall not be responsible for damage to or the loss, theft or destruction of any goods not so insured upon the owner's written instructions.
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Dreweatt Neate shall not be responsible for accidental breakage, loss or damage howsoever caused unless directly caused by negligence of their employees.
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In respect of any article delivered to Dreweatt Neate if the seller has in force a policy or policies of insurance in which the article is specifically mentioned as being insured whether or not for an agreed sum or value, the seller shall notify his insurers of, and shall himself note Dreweatt Neate's interest as bailees in such policy or policies.
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14. Reserves.
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All goods are put up for sale WITHOUT RESERVE unless written instructions as to reserve are received by Dreweatt Neate prior to the commencement of the sale.
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In the event of any reserve price not being reached at auction, Dreweatt Neate are empowered to sell after the auction, by private treaty, at not less than the reserve price, as long as the' goods remain on Dreweatt Neate's premises. In the event of such a sale by private treaty the Conditions of Sale applicable to a buyer governing the auction will apply.
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15. Indemnity. The seller shall duly indemnify Dreweatt Neate against any claims in connection with any goods sold by Dreweatt Neate on the seller's behalf.
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16. Value Added Tax. A seller who sends for sale by auction any chattel(s) which is an asset of his business must disclose to the Auctioneer whether or not he is a registered person for Value Added Tax purposes and, if so, his registered number and whether or not he intends to operate the Dealer Margin Scheme covering works of art, etc. This information must be supplied to the Auctioneer on or prior to delivery of the goods.
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17. The seller authorises the Auctioneer to deduct commission and expenses in accordance with the Auctioneer's terms of business at the stated rates from the hammer price and acknowledges the Auctioneer's right to retain any premium payable by the buyer. The seller waives any rights to any interest that may have been earned during the period from payment by the buyer to receipt of sale proceeds by the seller.
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18. Rights to Photographs and Illustrations. The seller gives Dreweatt Neate full and absolute right to photograph and illustrate any lot placed in its hands for sale and to use such photographs and illustrations and any photographs provided by the seller at any time at its absolute discretion (whether or not in connection with the auction)
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19. Withdrawals. Where a seller cancels instructions for sale, or where a lot is withdrawn for any reason other than misattribution or authenticity, Dreweatt Neate reserves the right to charge a fee equal to 10% of the reserve price of the lot, or where no reserve has been fixed, Dreweatt Neate's bottom estimate of the property withdrawn, together with any expenses incurred in relation to the property withdrawn.
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20. Unsold Lots. Where any lot fails to sell and a reserve has been agreed, the seller shall make arrangements to either re-offer the lot for sale or remove the lot in accordance with Clause 12. If no reserve has been agreed, then in addition to these conditions, Dreweatt Neate reserves the right to charge a fee equal to 5% of the reserve imposed by the seller, together with any expenses incurred in relation to the unsold lot.
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BUYERS CONDITIONS
21. Inspection. Opportunity is given for inspection and each buyer by making a bid for a lot acknowledges that he has satisfied himself fully before bidding by inspection or otherwise to all the Sale Conditions, the physical condition of and description of the lot including but not restricted to whether the lot is damaged or has been repaired or restored.
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22. Property and Risk. The legal title in a lot shall not pass to the buyer until the lot(s) has been paid for in full and the Auctioneers shall be entitled to a lien on any lot sold until the purchase price (as defined in 23 below) is paid in full but each lot is at the sole risk of the buyer from the fall of the hammer. Each buyer shall forthwith give his full names and permanent address and if called upon to do so by the Auctioneer shall forthwith pay Dreweatt Neate such proportion of the purchase price as the Auctioneer may require. If the buyer fails to do so, the lot may at the Auctioneer's sole discretion be put up again and re-sold.
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23. Every bidder shall be deemed to act as principal unless there is in force a written acknowledgement by Dreweatt Neate that he acts as agent on behalf of a named principal.
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24. Removal of Goods.
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No purchase shall be claimed or removed until the sale has been concluded. All lots shall be paid for and removed at the buyer's risk and expense by the end of the second working day after the sale, failing which the Auctioneer shall not be responsible if the same are lost, stolen, damaged or destroyed, and all lots not so removed shall remain at the risk of the buyer and subject to a warehousing charge. If they are not paid for and removed within seven days of the sale the Auctioneer may re-sell them by auction or privately without notice to the buyer. Any liability which there may be on the part of the Auctioneer in respect of any loss shall be restricted to a maximum of the price paid by the buyer of the lot.
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In the event of any failure of the buyer to comply with any of the above conditions the damages recoverable by the seller or the Auctioneers from the defaulter shall include any loss arising on any re-sale of the lots, together with the charges and expenses in respect of both sales, and together with interest at 2% above Barclays Bank plc Base Rate upon the price of any lot which has not been paid for within forty-eight hours of the sale, and any money deposited in part payment shall be held by the Auctioneers on account of any liability of the defaulter to them or to the seller. The Auctioneers are unable to accept payment from successful bidders other than in cash or by the bidder's own cheque. Cheques drawn by third parties, whether in the Auctioneer's favour or requiring endorsement, cannot be accepted.
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25. Purchase Price. The buyer shall pay the hammer price together with a premium at the stated rates on the hammer price. Under the Auctioneers' Margin Scheme operated by HM Customs & Excise, the premium does not attract VAT as an addition to the stated premium rate.
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26. Commission to Bid. Dreweatt Neate will execute bids on behalf of intending buyers unable to attend the sale at no charge. Dreweatt Neate undertake to purchase lots as cheaply as allowed by other bids and reserves. Bids must be submitted in writing and whilst every care is taken in carrying out instructions Dreweatt Neate cannot be held responsible for errors or omissions made in carrying out such bids.
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27. Lots on which Value Added Tax is payable on or included in the hammer price are indicated in the catalogue or description sheet with a sign. VAT is payable on or included in the hammer price of such lots at the rates prevailing on the day of the auction.