Moody RGB carries on business on the following terms and conditions and on such other terms, conditions, and notices, as may be set out in any relevant catalogue. The definition of words and phrases with special meanings appear in Condition 23. By participating in this sale, the buyer agrees to be bound by the terms of these Conditions of Sale.

1. The Buyer
The highest bidder shall be the buyer at the 'hammer price' and any dispute shall be settled at the auctioneer's absolute discretion. Any bidder acting for any person who is not bidding shall be jointly and severally liable with that person for satisfaction of all obligations and liabilities hereunder.

2. Bids
The auctioneer shall have the right to refuse any bid which does not exceed the previous bid by at least 5% or by such other proportion or unit of money as the auctioneer shall in his absolute discretion determine. Bids are to be accepted in GB pounds sterling.

3. The Buyer's Premium
If applicable, the buyer shall pay to Moody RGB a premium at the 'stated rates' on the 'hammer price' together with Value Added Tax (VAT) at the standard rate on the premium and notes that Moody RGB when acting as agent for the seller, may also receive commission from the seller in accordance with Condition 17.

4. Value Added Tax (VAT)
Where Value Added Tax applies it is payable by the buyer on the 'hammer price' at the rate prevailing on the day of the auction.

5. Payment
Immediately after a lot is sold, the buyer shall:

a) give to Moody RGB his name and address and, if so requested, proof of identity; and

b) pay to Moody RGB the 'total amount due' (unless credit terms have been agreed with Moody RGB before the auction)

6. Payment by Purchaser
Payment is due upon the fall of the hammer and must be made in full by 5:00pm on the day of the sale. The preferred method of payment is by electronic transfer but payment can also be made by cash, banker's draft or credit card (the latter of which is subject to a 3% + VAT admin charge) in GB pounds sterling. Cheques will be accepted only by prior arrangement and supported by a letter from the purchaser's bank stating the amount up to which such charge will be honoured.

6a. The auctioneers may, at their absolute discretion, impose such lift out costs for the removal of Lots as they see fit. These costs are MANDATORY and will be charged on the Purchasers account.

7. Moody RGB may, at its absolute discretion, agree to provide credit terms to a buyer under which the buyer will be entitled to take possession of lots purchased up to any agreed amount in value with payment of the 'total amount due' on a determined future date.

8. Any payments by a buyer to Moody RGB may be applied by Moody RGB towards any sums owing from that buyer to Moody RGB on any account whatever without regard to any directions of the buyer or his agent, whether expressed or implied as to how that payment should be applied.

9. Ownership of Purchase
The ownership of the lot purchased shall not pass to the buyer until he has made payment in full to Moody RGB of the 'total amount due'.

10. Collection of Purchases
a) The buyer shall at his own expense take away the lot purchased as directed in the catalogue but (unless credit terms have been agreed in accordance with Condition 7) not before payment to Moody RGB of the 'total amount due'.

b) In default of a) above, the buyer shall be responsible for any removal and storage costs of any lot.

11. Buyer's Responsibilities for Lots Purchased
The buyer will be responsible for loss or damage to lots purchased. All lots shall be at the buyer's risk from the fall of the hammer and neither Moody RGB nor its servants or agents shall be responsible for any loss or damage of any kind, whether caused by negligence or otherwise, while any lot is in its custody or under its control.

12. The buyer is solely responsible for compliance with all statutes or regulations governing the ownership, use or transportation of any lot.

13. Remedies for Non-Payment or Failure to Collect Purchases
If any lot is not paid for in full and taken away in accordance with Condition 5 and Condition 9, or if there is any other breach of either of those Conditions, Moody RGB as agent of the seller shall, at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one of more of the following rights and remedies:

a) to proceed against the buyer for damages for breach of contract;

b) to rescind the sale of that or any other lot(s) sold to the defaulting buyer at the same or any other auction;

c) to re-sell the lot or cause it to be re-sold by public auction or private sale and the defaulting buyer shall pay to Moody RGB any resulting deficiency in the 'total amount due' (after deduction of any part payment and addition of re-sale costs and Moody RGB's commission and buyer's premium at the stated rates) and any surplus shall belong to the seller;

d) to remove,store and insure the lot at the expense of the defaulting buyer and in the case of storage, either at the premises or elsewhere of Moody RGB;

e) to charge interest at a rate not exceeding 2% per month on the 'total amount due' to the extent it remains unpaid;

f) to retain that or any other lot(s) of the same buyer and release any such lot(s) only after payment of the 'total amount due';

g) to reject or ignore any bids made by or on behalf of the defaulting buyer at any future auctions or obtain a deposit before accepting any bids in the future;

h) to apply any proceeds of the sale then due or at any time thereafter becoming due to the defaulting buyer towards settlement of the 'total amount due' to exercise a lien on any property
of the defaulting buyer which is in possession of Moody RGB for any purpose and to sell that property.

14. Liability of Moody RGB and sellers

a) All goods are sold with all faults and imperfections and errors of description. Illustrations in catalogues are for identification only. Buyers should satisfy themselves prior to sale as to the condition of each lot and should exercise and rely on their own judgement as to whether the lot accords with its description. Subject to the obligations accepted by Moody Auctions Limited under this Condition, none of the seller, Moody RGB, its servants or agents is responsible for errors of descriptions or for the genuineness or authenticity of any lot(s) no warranty whatever is given by Moody RGB, its servants or agents, or any seller to any buyer in respect of any lot and any expressed or implied conditions or warranties are hereby excluded.

b) Neither Moody RGB nor the seller make any representations or warranties, expressed or implied, as to whether any lot is subject to copyrights, nor whether the purchaser acquires any copyrights including but not limited to reproduction rights, in any lot sold.

GENERAL CONDITIONS AND DEFINITIONS

15. Moody RGB sells as agent for the seller (except where it is stated wholly or partly to own any lot as principal) and as such is not responsible for any default by seller or buyer.

16. Any representation or statement by Moody RGB in any catalogue as to authorship, attribution, genuineness, origin, date, age, provenance, condition, reserve price or estimated selling price is a statement of opinion only. Every person interested should exercise and rely on his own judgement as to such matters and neither Moody RGB nor its servants or agents are responsible for the correctness of such opinions.

17. Whilst the interests of prospective buyers are best served by attendance at the auction, Moody  RGB will if so instructed execute bids on their behalf, neither Moody RGB nor its servants or agents being responsible for any neglect or default relating to bids made in doing so or for failing to do so, or for failure or telecommunications relating to bids made.

18. Moody RGB shall have the right at its discretion to refuse admission to its premises or attendance at its auctions by any person.

19. Moody RGB has absolute discretion without giving any reason to refuse any bid, to divide any lot, to combine any 2 or more lots, to withdraw any lot from the auction and in case of dispute to put up any lot for auction again.

20. Any notice by Moody RGB to a seller, consignor, prospective bidder or buyer may be given by first class mail or airmail or fax if so given shall be deemed to have been duly received by the addressee 48 hours after posting, in the case of mail or by the close of business on the day of transmission in the case of the fax.

21. These Conditions shall be governed by and construed in accordance with English Law. All transactions to which these Conditions apply and all matters connected therewith shall also be governed by English Law. Moody RGB hereby submits to the exclusive jurisdiction of the English Courts and all other parties concerned hereby submit in favour of Moody RGB to the non-exclusive jurisdiction of the English Courts.

22. Rescission by Vendor
In the event of the vendor after the sale not being able to give a good and sufficient title to or delivery of any lot(s) or part thereof before its removal, or if in the vendor's opinion the removal of any lot(s) will endanger or permanently damage any building or other property, the vendor may by written notice to the purchaser of such lot delivered to him or his agent or sent by post to his place of abode or business last known to the auctioneers, rescind the sale of such lot and repay the purchaser any deposit or purchase money paid in respect thereof.

23. In these Conditions:

a) 'catalogue' includes any advertisement, brochure, estimate, price list and other publication;

b) 'hammer price' means the price at which a lot is knocked down by the auctioneer to the buyer;

c) 'total amount due' means the 'hammer price' in respect of the lot sold together with any buyer's premium, Value Added Tax chargeable and additional charges and expenses due from a defaulting buyer under Condition 13 in GB pounds sterling;

d) 'sale proceeds' means the net amount due to the seller being the 'hammer price' of the lot sold less commission at the 'stated rate' and 'expenses' and any other amounts due to Moody RGB by the seller in whatever capacity and howsoever arising;

e) 'stated rates' means Moody RGB published rates of commission, buyer's premium and other charges from time to time applicable to the relevant sale, plus Value Added Tax thereon;

f) 'expenses' in relations to the sale of any lot  means Moody RGB charges and expenses for insurance, illustrations, 'special advertising', packing and freight of that lot, reproduction rights, costs of testing, searches or enquiries relating to any lot and any Value Added Tax thereon;

g) 'motor vehicle' means any item included or proposed to be included in the sale of motor vehicles;

h) 'mid estimate' means the average of the latest low and high estimates of the auction price stated or published by Moody RGB.

The headings in these Conditions do not form part of the Conditions but are for convenience only.