The Iconic & Classic Sale at The NEC Classic Motor Show 2025

362 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; 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. SELLERS These terms and conditions should be read in conjunction with the General Terms & Conditions. 1. DISCRETION 1.1 IA has the right as its sole discretion to refuse any bid, to divide any Lot, to combine two or more Lots, to withdraw any Lot and, in the case of dispute, to put any Lot up for Auction again. 1.2 If IA is notified about the Seller’s alleged breach of any of the Terms before it has remitted the Sale Proceeds to the Seller, it may at its sole discretion withhold payment until that dispute is resolved. IA may, however, deduct any sums that are due to it from the sum held. 2. LOTS 2.1 The Seller is responsible for delivering the Lot in a presentable condition. If additional cleaning is required, it will be charged for by IA to the Seller as an Expense. 2.2 If a Lot is not sold at Auction, IA will for the next 14 days be entitled exclusively to negotiate a sale of the Lot on terms agreed with the Seller and as Seller’s agent, and if successful will be entitled to charge the Seller’s Commission and Expenses. 2.3 The Seller gives IA the full and absolute right to photograph, video and illustrate any Lot consigned for sale, and to use such photographs, videos and illustrations as are provided by the Seller at any time at its absolute discretion (whether or not in connection with the Auction), with indemnity against copyright infringement. 2.4 The copyright in all written matter and illustrations relating to Lots shall remain at all times the absolute property of IA, and any person wishing to use such materials, or any part of them, may only do so with the prior written consent of IA. 2.5 IA shall not be liable to the Seller for any error or misstatement in or omission from the description of any lot in any Catalogue where IA has: 2.5.1 been provided with such description by the Seller or any person on his behalf; or 2.5.2 provided the Seller with a copy of such description prior to publication of the Catalogue and neither the Seller nor any person on his behalf has notified IA in writing within a reasonable time before the Auction of any error or misstatement in or omission from the description. 2.6 IA has no duty to the Seller or the Buyer to investigate the accuracy of the description of any Lot provided by or on behalf of the Seller. 2.7 The Seller gives IA the full and absolute right to promote the Lot at its discretion on the IA website, third party websites, social media channels, in the press and in any other manner it deems fit. 3. WARRANTY BY THE SELLER 3.1 The Seller warrants to the Buyer and to IA that: 3.1.1 The Seller is the owner of the Lot or person/organisation properly authorised to sell the Lot by the owner (whose identity you will disclose to IA) and is able to sell the Lot with full title guarantee free from all encumbrances and third party claims and in particular that there is no outstanding finance affecting the Lot or any taxes due. If the Lot is subject to finance the amount outstanding must be confirmed prior to consignment and sale. 3.1.2 The description of the Lot in the Catalogue is to the best of the Seller’s knowledge accurate and not misleading. The Seller has notified (or will before the Auction notify) IA in writing of any material alterations to the Lot of which the Seller is aware and of any concerns expressed by third parties in relation to the authenticity, provenance, origin, age, condition or quality of the Lot and has provided IA with all such information in the Seller’s possession or control. IA shall be under no obligation to investigate any concerns expressed by third parties. 3.1.3 The Seller shall compensate IA and the Buyer in full for all losses, expenses and other costs which are caused by the Seller’s breach of any obligation of the Seller under the Terms. 3.1.4 The Seller has complied with all the requirements, legal or otherwise, relating to any import or export of the Lot and all taxes and duties in respect of the Lot have been settled, unless stated to the contrary in the catalogue description, and so far as the Seller is aware all third parties have complied with such requirements in the past. 3.1.5 The Seller is not the subject of any Sanctions or is located in a country or territory that is, or whose government is, the subject of Sanctions. 3.1.6 The lots offered for sale are not connected with any criminal activity, including without limitation tax evasion, money laundering or terrorist activity. 4. VEHICLE REGISTRATION NUMBERS 4.1 If the Seller wishes to sell the Motor Vehicle but to retain the right to the registration number of the Motor Vehicle it is the Seller’s Responsibility to notify IA in writing.