THE CLASSIC SALE 22nd & 23rd MARCH 2025

120 9.1.4 to apply any money due or to become due to the defaulting Buyer in or towards settlement of the total amount due and to exercise a charge or lien on any property of the Buyer which is in IA’s possession for any purpose. 9.1.5 take such steps as IA shall at its absolute discretion consider necessary to collect the monies due from the Buyer, and to agree terms for the payment of the Purchase Price; 9.1.6 to rescind the sale and refund any monies to the Buyer, or to rescind the sale to the Buyer and to purchase the Lot itself. If it does so, property in the Lot shall pass to IA on its election and IA shall remit the Purchase Price to the Seller within 14 Working Days of its election less the Seller’s Commission, Expenses and sums due to IA which would have been payable had the contract not been rescinded; 9.1.7 to appoint a solicitor and/or other agent to pursue any of the courses of action referred to in this Clause 9, and the Seller hereby authorises IA to take any of the courses referred to in this clause, including the issue and prosecution of proceedings on the Seller’s behalf, and to settle claims and/or proceedings made by or against the Buyer on such terms as the Seller shall instruct, or in the absence of instructions on such terms as IA shall at its absolute discretion think fit. The Buyer shall be liable for all the costs incurred in any proceedings, negotiations or ADR (Alternative Dispute Resolution) including any shortfall in cost between those expended by IA or the Seller and those awarded by any Court or Tribunal. 9.2 If the Buyer fails to make payment within 14 days after the date and time referred to in clause 6.2, IA shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to re-sell the Lot or cause it to be resold by public auction or private sale, and, if this results in a lower price being obtained, the defaulting Buyer shall then pay to IA any deficiency, together with re-sale costs and any costs incurred in connection with the Buyer’s failure to make payment and any surplus shall belong to the Seller. 9.3 If the Lot is not taken away on the date and time referred to in the Key Sale Information in the Auction Catalogue, whether or not the Purchase Price has been paid, IA shall remove, store (either at IA’s premises or elsewhere) and insure the Lot at the expense of the Buyer and only release the Lot after payment of the total amount due. 10. LIABILITY OF IA AND THE BUYER 10.1 Buyers are solely responsible for ensuring that Motor Vehicles are safe for use, roadworthy (if a road going car) and comply with all relevant laws and regulations in force in all relevant jurisdictions and for ensuring that any necessary test certificates are in force. It is the responsibility of the Buyer to carry out such inspection as he thinks necessary in line with clauses 1 and 2 above. 10.2 In bidding for any Lot, the Buyer acknowledges that he does not rely on any representation made to him by IA, its employees or agents. 10.3 This contract is made for the benefit of IA, the Seller, and the Buyer, and save where the Buyer acts as agent for a named principal in accordance with Clause 4.1, is not intended to benefit or be enforceable by anyone else. For the avoidance of doubt, any rights otherwise arising under the Contracts (Rights of Third Parties) Act 1999 are expressly excluded.