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“Bid Slip” means the slip to be completed by a potential buyer prior to participating in an auction in conjunction with Registration.
“Buyer” shall mean the maker of the highest bid accepted by OBZOLETE.COM LTD whether on the fall of the hammer (when the Hammer Price is achieved) or by private treaty sale.
“Buyer Premium” refers to the premium of between 10% and 15% (as specified in the Important Notes) which is incurred on the Hammer Price of all Lots unless stated otherwise.
“Commission Bids” refers to any proxy bidding taking place in relation to any given auction as notified to OBZOLETE.COM LTD, including any proxy bids received up to 15 minutes before the relevant auction.
“Defaulter’s Entry Fee” means the fee of £130 to be charged to the relevant party in the case of any Lot having to be re-auctioned otherwise than due to a fault of OBZOLETE.COM LTD.
“Deposit” means the cash (or as otherwise agreed) deposit paid by the potential buyer upon Registration of either £200 or £500 as notified by OBZOLETE.COM LTD in the Important Notes.
“Hammer Price” shall mean the highest bid accepted by OBZOLETE.COM LTD including any VAT that may be included therein.
“OBZOLETE.COM LTD” means Obzolete.com Ltd and Sons Limited including but not limited to OBZOLETE.COM LTD who have the conduct of auctions from the rostrum and/or any other authorised representative thereof.
“Premises” means the premises in which the (OBZOLETE.COM LTD) auction is taking place, and, where relevant, the location where the individual Lot and/or Lots under the control of OBZOLETE.COM LTD are stored.
(iii) The completion and submission of the Bid Slip.
“Working Day” means any day that OBZOLETE.COM LTD is open to the public for business.
1.2 The headings of the Terms do not form part of the Terms.
1.3 Save in the context of any online auctions held by OBZOLETE.COM LTD where reference to writing will include reference to email, writing or written does not include faxes and e-mail unless otherwise notified by OBZOLETE.COM LTD.
1.4 If any of these Terms are inconsistent with any term of the Important Notes, the Important Notes shall prevail.
1.5 All entries of Goods and the subsequent sale and purchases of Lots (whether at a public auction or via an online auction) are subject to these Terms.
1.6 All Buyers and Sellers acknowledge and agree that these Terms are binding upon them, and by the Buyers completing Registration, and OBZOLETE.COM LTD accepting the Sellers’ Good(s) for auction, these Terms are deemed accepted and incorporated into all dealings as between the relevant parties.
2.1 OBZOLETE.COM LTD sell as agents for the Seller and as such are not responsible for any default by Seller.
2.2.4 all other relevant certificates pertaining to the Good(s) which the Seller is reasonably able to produce upon request.
2.3 Unless otherwise agreed, notwithstanding the production of the items listed in clause 2.2 above, OBZOLETE.COM LTD has the right to refuse entry of any Good(s) into auction, and to set the entry fee at a reasonable amount deemed appropriate by OBZOLETE.COM LTD.
2.4.3 every representation made by the Seller (in any form) about the Good(s) is wholly accurate and informed, and the Seller acknowledges that such representations will be relied upon by OBZOLETE.COM LTD and the Buyer.
2.5 The Seller will indemnify OBZOLETE.COM LTD, their servants and agents and the Buyer against any loss or damage suffered by them in consequence of any breach of the warranties set out in clause 2.4 above on the part of the Seller.
2.6 Unless previously agreed in writing, OBZOLETE.COM LTD shall remit the proceeds of the sale to the Seller not later than one month after the auction, and following the relevant deductions.
2.7 Where a Seller cancels instructions for auction of a Lot, OBZOLETE.COM LTD reserves the right to charge the Defaulter’s Entry Fee plus 5% of OBZOLETE.COM LTD’ latest estimate of the auction price of the Lot withdrawn (plus VAT where applicable).
2.8.2 Within 4 Working Days of notification, then OBZOLETE.COM LTD will have the right to sell the Lot at public auction without reserve and to deduct from the Hammer Price any sum owing to OBZOLETE.COM LTD including removal, storage and insurance expenses, the entry fee in respect of the first auction (together with any VAT chargeable thereon), a Defaulter’s Entry Fee, commission on the second auction and all other reasonable expenses before remitting the balance to the Seller.
3.1 All Lots are sold ‘as they lie’ with all faults and imperfections and errors of description. Illustrations in catalogues, digital displays or brochures 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 judgment as to whether the Lot accords with its description.
3.2 No warranty (written or oral) or other term (whether express or implied and whether implied by statute, common law, custom or otherwise) as to the age, correctness of any description, suitability, fitness for purpose, or satisfactory quality of the Lot is given by OBZOLETE.COM LTD, their servants or agents or by any Seller to any Buyer in respect of any lot, and any express or implied conditions or warranties are excluded to the fullest extent permitted by law. For the avoidance of doubt, the Lots are not sold by sample, and the Buyer shall be deemed to have inspected the Lot(s) he/she buys.
3.3 Except in respect of the Important Notes, no oral or written representation made prior to or at the time of sale of any Lot shall be deemed to be incorporated into such sale nor to have induced any potential buyer to bid.
3.4 Buyers buy Lots where they lie and are wholly responsible to bring any necessary labour and equipment in order to remove their Lot(s) and shall comply with any directions which may be given by OBZOLETE.COM LTD as to the safe removal of the Lot(s) and in giving due care to other Lots on the Premises and the Premises itself.
3.6.2 The Buyer completes Registration.
3.6 OBZOLETE.COM LTD has the right to revise and amend these Terms from time to time to reflect changes in market conditions affecting its business, changes in technology, changes in payment methods, changes in relevant laws and regulatory requirements and changes in various systems’ capabilities. Buyers and Sellers will be subject to the policies and terms in force at the time these Terms become binding in accordance with clause 3.5 above.
3.7 The Buyer acknowledges that a sale by auction IS NOT a consumer sale for the purposes of the Sale of Goods Act 1979 (as amended by the Sale and Supply of Goods Act 1994) and the Unfair Contract Terms Act 1977 / 1999 Regulations and the Buyer shall not seek to rely upon any conditions or warranties implied thereby or by any other legislation. All lots are Sold as Seen with no grading or guarantees and can include used items, salvage, raw returns, ex-display, repossessed and seized goods.
4.1 The title in the Lot shall not pass to the Buyer until the Hammer Price and the Buyer Premium have been paid to OBZOLETE.COM LTD (and have been received in full and cleared funds) and any other instrument tendered in payment has been cleared. Until title passes, and subject to clause 7.1 below, OBZOLETE.COM LTD reserves the right to dispose of the Lot in accordance with clause 2.8 above.
4.2 From the delivery of a Lot to the Premises until the Hammer Price in respect of a Lot is reached or the Lot is removed by the Seller (including any time during which the Lot is being tested or demonstrated on the auction premises, or elsewhere) the Lot is at the risk of the Seller, and neither OBZOLETE.COM LTD nor its servants or agents will be responsible for any loss or damage whether caused by negligence or otherwise.
4.3 From the time when a Hammer Price is reached in respect of a Lot, a Lot is deemed sold, and notwithstanding clause 4.1 above, it is at the risk of the Buyer from that point onwards.
5.1 Without prejudice to any other of their rights set out in these Terms, OBZOLETE.COM LTD has absolute discretion without giving any reason to refuse any bid, to withdraw any Lot before the hammer falls, to divide any Lot, to combine any two or more Lots, or to withdraw any Lot and/or Lots from the auction. OBZOLETE.COM LTD is not bound to accept any offer.
before they will be admitted to participate in any auction.
5.3 The contract of sale between the Seller and a Buyer will be formed once the Hammer Price has been achieved, at which point the Lot shall be deemed sold subject to the provisions of clause 4.1 above.
5.4 For the avoidance of doubt, the parties to the contract of sale of the Lot are the Buyer and the Seller. OBZOLETE.COM LTD is not a party to the contract of sale and is not liable for any breach thereof by either the Buyer or the Seller.
5.5 Immediately after the achievement of the Hammer Price the terms of clause 6 below shall apply.
5.6 If a potential buyer is unsuccessful in achieving the Hammer Price, they may recover their Deposit from OBZOLETE.COM LTD or, they may request in writing that OBZOLETE.COM LTD keep the Deposit against future auctions which the potential buyer may participate in, and make them a registered ‘regular customer’ of OBZOLETE.COM LTD provided they adhere to bi-annual requests for identification.
5.7 Any disputes in relation to the bidding, or following the attainment of the Hammer Price in relation to what bids were made by who shall be referred to OBZOLETE.COM LTD for decision. For the avoidance of doubt, OBZOLETE.COM LTD shall have absolute discretion to cancel the contract of sale and to re-auction the Lot (which is the subject of any dispute) either during the same or a subsequent auction, and, in all cases, OBZOLETE.COM LTD’ decision in respect of any such dispute (for which no justification or reasons shall be required) will be final.
5.8 In the event that OBZOLETE.COM LTD exercises the discretion to cancel the contract referred to at clause 5.3 above, neither the original Buyer nor the Seller shall be entitled to rely on the original contract of sale for any purpose whatsoever save that the Buyer shall be entitled to the return of any deposit or other money which he may have paid under the original contract.
5.9 Every bidder shall be deemed to act as principal unless there is in force a written acknowledgment by OBZOLETE.COM LTD that he acts as agent on behalf of a named principal.
5.10 OBZOLETE.COM LTD shall not in any circumstances be obliged to announce any reserve price.
5.11 OBZOLETE.COM LTD reserves the right to turn away any potential sellers and/or buyers who do not present appropriate identification upon reasonable request.
5.12 Persons attend auctions at their own risk.
5.13.2 In the event of a third party proving to have a superior title or right to custody or possession of any Lot OBZOLETE.COM LTD may rescind the contract of sale and upon return of any Deposit and/or Hammer Price to the Buyer, neither the Seller nor OBZOLETE.COM LTD shall be under any further liability to the Buyer.
5.14 OBZOLETE.COM LTD shall have the right, at its discretion, to refuse admission to the Premises or attendance at the auctions by any person.
5.15 The Important Notes and these Terms will be made available to potential buyers on OBZOLETE.COM LTD website, in the relevant catalogue, on request, and will be on display at the Premises.
6.1 Immediately following the achievement of the Hammer Price, the Buyer shall attend the relevant clerk and/or follow the appropriate process as notified to the Buyer by OBZOLETE.COM LTD and pay the Hammer Price (plus VAT where relevant), and the Buyer Premium (plus VAT where applicable). If the Buyer fails to do so by 5 pm on the next Working Day, or such other time as is specified in the Important Notes, OBZOLETE.COM LTD shall have an absolute discretion to cancel the contract of sale, to retain the Deposit, and the terms of clause 8.1 below will apply.
6.2 All required payments will be settled in full and before removal of the Lot is permitted and will be in sterling (GBP) by way of CHAPS, Bankers Draft, Debit Cards, Cash (up to £5000 per Buyer) or as otherwise specified in the Important Notes or directly by OBZOLETE.COM LTD. All queries in relation to methods of payment must be made to OBZOLETE.COM LTD accounts department and unless otherwise agreed by OBZOLETE.COM LTD, the timing required under these Terms for payment is of the essence, and will under no circumstances be adjusted further to a failure on the part of the Buyer to make the necessary enquiries and preparations in order to pay the Hammer Price.
6.3 In respect of telegraphic transfers, the remitting bank must include the bidding number (listed on the Bid Slip), the invoice number, and any other reference as shown in the Important Notes, or as otherwise directed by OBZOLETE.COM LTD.
6.4 All bankers’ drafts will be confirmed with the drawn bank prior to acceptance.
Buyers must provide full details of the drawn bank including branch, contact name and telephone number.
6.5 Bankers Drafts can only be accepted for payment up to 4.00pm, Monday to Thursday – after this time collection will be deferred to the next Working Day.
6.6 All Lots are sold exclusive of VAT which will be added to the Hammer Price at the prevailing rate (if applicable).
6.7 All Lots must be paid for in accordance with clause 6.1 above, and must be removed no later than the time specified in the Important Notes.
6.8.11 specific detail relating to the particular auction.
6.9 OBZOLETE.COM LTD will charge a “Buyer Premium” on all Lots on the purchase price of the Lot plus VAT. The Buyer Premium will be set out in the Important Notes, and will be a percentage of the Hammer Price which will be charged to the Buyer.
6.10 OBZOLETE.COM LTD is entitled to deduct the relevant fees from the Hammer Price (plus any VAT chargeable thereon) in respect of each Lot (which may, for the avoidance of doubt, include any commission due, the entry fee due (if not already paid) and any other previously notified fees chargeable), before remitting the proceeds to the Seller.
6.12.4 if the Seller becomes the Buyer.
6.13.2 OBZOLETE.COM LTD will be entitled to deduct from any payment due to the Seller, any amounts owed by the Seller to OBZOLETE.COM LTD which OBZOLETE.COM LTD has obtained prior consent from the Seller to so deduct.
7.1 The Buyer shall at his own expense and risk take away the Lot(s) purchased not later than 5pm the following Working Day after the relevant auction in which the Lot was purchased has concluded, unless otherwise stated in the Important Notes (but in any event not before payment to OBZOLETE.COM LTD in accordance with clause 6 above). If the Buyer fails to do so, the provisions of clause 8.2 below will apply.
7.2 The Buyer shall fully indemnify and keep indemnified OBZOLETE.COM LTD in the event of any damage or loss caused and/or occasioned to any adjoining or other Lots or to the Premises by their removal of the Lots.
7.3 The Buyer shall be responsible for any injury to and/or death of any person resulting from the removal of his Lot(s) and shall fully indemnify and keep indemnified, OBZOLETE.COM LTD against any such liability whether or not such injury and/or death was caused by the negligence of the Buyer, his employees or agents.
7.4 In accordance with clause 4.3 above, the Buyer will be responsible for loss or damage to the Lots purchased from notification of successful bid and neither OBZOLETE.COM LTD nor its servants or agents shall afterwards be responsible for any loss or damage of any kind, whether caused by negligence or otherwise, while any Lot is in their custody or under their control.
7.5 OBZOLETE.COM LTD will not be liable under Section 6 of the Health and Safety Act 1974, and if required to do so by OBZOLETE.COM LTD the Buyer will provide a written undertaking (in a form acceptable to OBZOLETE.COM LTD) to comply with all duties and obligations in respect of the Lot by the Health and Safety at Work Act 1974, any subsequent modification or re-enactment of either Act or by any other legislation affecting the use of the Lot. OBZOLETE.COM LTD may cancel the contract the contract of sale if the Buyer fails to provide such an undertaking upon request. In this event, OBZOLETE.COM LTD will be entitled to re-auction the Lot at any time.
7.6 The Buyer shall be responsible for any damage occasioned to any adjoining or other Lots or to the Premises by the removal of their Lot(s) and shall repair the same either before removal of the Lots from the Premises or after such removal as OBZOLETE.COM LTD may desire or shall pay the estimated cost of doing so to be fixed by OBZOLETE.COM LTD whose decision shall be binding on the Buyer.
7.7 Neither the Seller nor OBZOLETE.COM LTD shall be under any liability pursuant to section 6 of the Health and Safety Act 1974 and the Buyer’s attention is drawn to the undertaking given on each Bid Slip at the sale by which the Buyer undertakes to take such reasonable and practical steps as are sufficient to ensure that his purchase will be safe and without risk to health and safety when properly used.
8.1.8 to apply any proceeds of sale then due or at any time afterwards becoming due to the defaulting Buyer towards settlement of the Hammer Price and to exercise a lien on any property of the defaulting Buyer which is in OBZOLETE.COM LTD possession for any purpose.
8.2.4 for every calendar day following the day on which the Lot(s) should have been collected from the Premises by the Buyer, the Buyer will incur a daily storage charge of £5 plus VAT per Lot stored without exception, and such charge will continue to accrue notwithstanding the transfer of any Lot to an alternative premises by OBZOLETE.COM LTD (and for the avoidance of doubt, OBZOLETE.COM LTD will deduct such charge from the Deposit).
(Together with any VAT chargeable).
8.4 The balance of the re-sale price, if any, shall be paid to the original Buyer if title in the Lot has passed to him but shall otherwise be paid to the original Seller or, where the Seller’s rights have been transferred to OBZOLETE.COM LTD, shall be retained by OBZOLETE.COM LTD. The original Buyer will remain liable to OBZOLETE.COM LTD and/or the Seller subsequent to the re-sale, save where the proceeds of the re-sale have discharged such liability.
9.1 OBZOLETE.COM LTD will only use the personal information provided to them to provide the auction services, or to inform Buyers and Seller about similar services which they provide, unless told by such parties that they do not want to receive this information by ticking the ‘opt out’ box on the Bid Slip, or by ticking the relevant box on the relevant web page.
9.2 The Buyers and Sellers acknowledge and agree that OBZOLETE.COM LTD may pass their details to credit reference agencies.
9.3 Within this clause, “Data Protection Act” means the Data Protection Act 1998 and “Data Controller”, “Data Processor” and “Personal Data” have the same meanings as in that Act.
9.4 With respect to the parties’ rights and obligations under these Terms, such party shall be the Data Controller for information obtained in the course of the auction as permitted under these Terms. To the extent that the Buyer needs access to Personal Data relating to its receipt of the Lot, or a Seller needs access to Personal Data relating to its sale of the Lot, then OBZOLETE.COM LTD shall be the Data Controller and the Buyer (and/or Seller) shall be the Data Processor in respect of such Personal Data.
9.9 not perform its obligations hereunder or as otherwise set out in these conditions in such a way as to breach any of its applicable obligations under the Data Protection Act.
10.2 If or to the extent that any of these Terms (as amended from time to time in writing by OBZOLETE.COM LTD) are Terms to which any of the provisions of the Unfair Contract Terms Act 1977 or the Supply of Goods and Services Act 1982 or any subsequent modification or re-enactment thereof apply then such Terms shall be enforceable only to the extent permitted by those Acts or their subsequent modification or re-enactment and these Terms shall be construed accordingly.
10.3 If OBZOLETE.COM LTD fails, at any time while these Terms are in force, to insist that the Seller and/or Buyer perform their obligations under these Terms, or if OBZOLETE.COM LTD does not exercise any of its rights or remedies under these Terms, that will not mean that OBZOLETE.COM LTD has waived such rights or remedies and will not mean that the Seller and/or Buyer does not have to comply with those obligations. If OBZOLETE.COM LTD do waive a default by the Seller and/or Buyer that will not mean that OBZOLETE.COM LTD will automatically waive any subsequent default by the Seller and/or Buyer. No waiver by OBZOLETE.COM LTD of any of these Terms shall be effective unless OBZOLETE.COM LTD expressly says that it is a waiver and OBZOLETE.COM LTD tells the Buyer and Seller so in writing.
10.4 A person who is not party to these Terms shall not have any rights under or in connection with them under the Contracts (Rights of Third Parties) Act 1999.
10.5 Lots in our auctions that have been physically de-branded/de-badged are to remain de-branded. No original trademarks, web images, vendor/clients logos or other intellectual property may be copied or used by the winning bidder without prior written consent. Any customers in breach risk permanent exclusion from auctions and salerooms.
10.6 These Terms shall be governed by Scottish law and OBZOLETE.COM LTD, the Seller and the Buyer all agree to the exclusive jurisdiction of the Scottish courts.
11.1 Subject to the following clauses which have precedence over the Terms above, the provisions of all Terms above apply to the sale of Lots made through www.obzolete.com (the “Website”), and to the extent that such adjustments in practical application of the Terms are warranted by virtue of the electronic medium of participation in any given auction, so such adjustments shall be deemed made so to give full application to all relevant and applicable Terms.
11.2 All participants in the Website auctions warrant that they are legally capable of entering into binding contracts, and are of the legal age required to purchase any relevant Good(s).
11.3 Any reference in the above Terms to the Buyer Premium will also, for the purposes of sale/purchases over the Website, include any online Buyer’s fees of which the Buyer will be so notified at the time of Registration.