THE CLASSIC SALE 22nd & 23rd MARCH 2025

19 VAT on imported items on the hammer price and buyer’s premium at the prevailing rate, plus 10% duty on the hammer price* Note - * This import VAT is not payable by buyers exporting to the EU. However, import VAT will be due in the country you are exporting to. All other Lots will be sold using the Auctioneers Margin Scheme (VAT Notice 718/2). VAT will not be charged on the hammer price. The VAT on the buyer’s premium will not be split out on the invoice and cannot be reclaimed by UK VAT registered businesses or individuals. Purchases being exported to the EU within 3 months of the auction date will be zero rated purchases. It is the Buyers responsibility to provide evidence of export within the time specified. Failure to do so will result in the VAT becoming payable to IA immediately. 5.3 Further duties and VAT may be applicable on exporting Lots from the UK. It is the responsibility of the Buyer to settle these charges. 5.4 An additional premium will be payable by the buyer on Lots marked [ARR] sold for a hammer price of £1,000 or more, for royalties relating to the Artists Resale Right Regulations 2006, calculated as a percentage of the hammer price as follows, up to a maximum of £12,500: Hammer price Percentage Up to £50,000 4.0% £50,001 to £200,000 3.0% £200,001 to £350,000 1.0% £350,001 to £500,000 0.5% Over £500,000 0.25% 6. PAYMENT 6.1 Once a lot is sold, the Purchase Price shall become immediately payable to IA. 6.2 Full payment for all Lots must be made to IA by 5:00pm the next Working Day. Payment should be made by bank transfer and can only be accepted in GBP. Payment by card can only be made in person up to £20,000 by debit card and £5,000 by credit card. We do not accept AMEX or cash. 6.3 No Lot may be collected until the Purchase Price has been received by IA and payments by a Buyer to IA may be applied by IA towards any such sums due from that Buyer to IA on any account whatsoever notwithstanding any directions to the contrary by the Buyer or his agent whether express or implied. 6.4 Title to the Lot will pass to the Buyer only when the Purchase Price in cleared funds has been received by IA. 6.5 Immediately a Lot is sold the risk shall pass to the Buyer notwithstanding that possession will not be given and title will not pass to the Buyer before payment of the Purchase Price. 6.6 The Buyer shall, at his/her own expense, remove the Lot purchased but not before payment in full to IA of the Purchase Price whether in respect of this or any other Lot. The Buyer must collect the vehicle or arrange for its delivery in accordance with the terms in the Key Sale Information in the Auction Catalogue. 6.7 It is the Buyers responsibility to comply with all export and import regulations relating to the Lot and to settle any applicable taxes and duties. 7. INSURANCE 7.1 Only on payment of the Purchase Price in cleared funds shall title in the Lot pass from the Seller to the Buyer. However, the risk in the Lot passes to the Buyer as soon as the Lot is sold to the Buyer. The Lot is sold when the highest bid is accepted by the Auctioneer. It is therefore the responsibility of the Buyer to insure the Lot from the fall of the hammer. 8. RESPONSIBILITY FOR PURCHASED LOTS 8.1 The Buyer will be responsible for loss or damage to a Lot they have purchased from when the Lot is sold to them. Neither IA nor its employees or agents shall be responsible for any loss or damage unless caused by the negligence of IA, its employees or agents in the ordinary course of their duties to IA if and in so far as the Lot is in IA’s custody or under its control. 8.2 The Buyer shall be responsible for all removals, insurance, storage and other charges on any Lot from the point at which the Lot is sold in accordance with the Key Sale Information in the Auction Catalogue. 8.3 Where applicable, IA will retain the V5C and notify the DVLA of the change of keeper as soon as possible following full payment of the Lot in accordance with Clause 6. 8.4 Where imported Lots are subject to a NOVA declaration being completed IA will instruct the import agent to do this on the Buyers behalf, once full payment is received, and will provide the buyer with the NOVA reference number. These lots will be clearly marked in the Lot description. 8.5 Automobilia, watches & lifestyle Lots can be sent to the buyer at the buyer’s expense or collected from our offices in Warwickshire, by prior appointment. 9. NON-PAYMENT OR FAILURE TO COLLECT 9.1 If the Purchase Price is not paid in full, IA as the agent of the Seller, shall in its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or more of the following remedies:- 9.1.1 to store (either at IA’s premises or elsewhere) and insure the Lot at the expense of the Buyer; 9.1.2 to charge interest at a daily rate equal to 4% pa over Barclays Bank’s Base Rate on so much of the total amount due as remains unpaid after the date of and time referred to in clause 9.2; 9.1.3 to retain that or any Lot sold to the same Buyer at the same or any other auction of IA and to release it only after payment of the total amount due;