The buyer shall pay the hammer price together with a premium, at the following rate, thereon.
26% up to £20,000
25% from £20,001 to £500,000
VAT will be charged on the premium at the rate imposed by law (see our Conditions of Sale at the back of this catalogue).
† VAT at the standard rate payable on the hammer price
‡ Reduced rate of 5% import VAT payable on the hammer price
[Ω] Standard rate of import VAT on the hammer price
Lots affixed with ‡ or [Ω] symbols may be subject to further regulations upon export /import, please see Conditions of Sale for Buyers Section D.2.
No VAT is payable on the hammer price or premium for books bought at auction
All potential buyers must register prior to placing a bid. Paddle registration must be completed in advance of the sale day. Please note that all first-time, and those returning after an extended period, bidders at Lyon & Turnbull will be asked to supply the following documents in order to facilitate registration:
1 – Government issued photo ID (Passport/Driving licence)
2 – Proof of address (utility bill/bank statement).
By registering for the sale, the buyer acknowledges that he or she has read, understood and accepted our Conditions of Sale.
ARTIST’S RESALE ROYALTY (DROIT DE SUITE)
This symbol § indicates works which may be subject to the Droit de Suite or Artist’s Resale Right, which took effect in the United Kingdom on 14th February 2006. We are required to collect a royalty payment for all qualifying works of art. Under new legislation which came into effect on 1st January 2012 this applies to living artists and artists who have died in the last 70 years. This royalty will be charged to the Buyer on the Hammer Price and in addition to the Buyer’s Premium. It will not apply to works where the Hammer Price is less than €1,000 (euros). The charge for works of art sold at and above €1,000 (euros) and below €50,000 (euros) is 4%. For items selling above €50,000 (euros), charges are calculated on a sliding scale. All royalty charges are paid to the Design and Artists Copyright Society (‘DACS’) and no handling costs or additional fees are retained by the Auctioneer. Resale royalties are not subject to VAT. Please note that the royalty payment is calculated on the rate of exchange at the European Central Bank on the date of the sale. More information on Droit de Suite is available at www.dacs.org.uk.
REMOVAL OF PURCHASES
Responsibility for packing, shipping and insurance shall be exclusively that of the purchaser. See Collections & Storage section for more info specific to this particular auction.
COLLECTION OF PURCHASED LOTS
Lots will be available to collect from 22 Connaught Street, London W2 2AF from Wednesday 29th March. All collections will be by appointment (bookings available 10.30am to 5pm weekdays)
CALL 0207 930 9115
Please ensure payment has been made prior to collection. This can be done by bank transfer, and debit/credit card online (powered by Opayo) - details will be shown on your invoice. Please note we are unable to take payments over the phone
All item descriptions, dimensions and estimates are provided for guidance only. It is the buyer’s responsibility to inspect all lots prior to bidding to ensure that the condition is to their satisfaction. Our specialists will be happy to prepare condition reports and additional images. These are for guidance only and all lots are sold ‘as found’, as per our Conditions of Sale.
Please note that all watches sold at auction are pre-owned and as such come with wear that is consistent with age and use. We recommend that a condition report is requested prior to bidding on any timepiece at auction. It is the responsibility of the bidder to do so and the absence of a condition report does not imply that the lot is in perfect condition. Condition reports for all watches (and other items of a mechanical nature) are made without any guarantee as to the working condition beyond the point at which the report is written. Watches are not tested in house for accuracy or water tightness.
Buyers should assume that any watch purchased at auction will require regular, and often immediate, servicing. Originality of parts, forming the structure of the watch and its bracelet/strap and all constituent parts, and the internal movement, should not be assumed. Originality is not guaranteed in any form. Unless otherwise stated, all watches will have been opened during the cataloguing process. It must therefore be assumed that the waterproof seal will need to be reinstated by a competent watch maker. If the watch caseback has not been opened and the movement has not been accessed, nothing pertaining to the movement’s originality or condition should be assumed by the buyer.
Prospective buyers are advised that several countries prohibit the importation of property containing materials from endangered species, including but not limited to; rhino horn, ivory, coral and tortoiseshell. Accordingly, prospective buyers should familiarise themselves with all relevant customs regulations prior to bidding if they intend to import lots to another country. It is the buyer’s sole responsibility to obtain any relevant export or import licence. The denial of any licence or any delay in obtaining licences shall neither justify the recession of any sale nor any delay in making full payment for the lot.
Please be aware that lots marked with the symbol Y contain material which may be subject to CITES regulations when exporting outside of Great Britain. For more information visit http://www.defra.gov.uk/ahvla-en/imports-exports/cites