THE SHUTTLEWORTH SPRING MOTORCYCLE SALE 7th April 2024

+ buyer’s premium of 15% plus VAT (18% incl VAT) 105 3.4 IA reserves the right to decline to register bidders and decline to accept their bids if they have been so registered. 3.5 Buyers should ensure they have the necessary funds available to pay before bidding. 3.6 The Auction will be conducted in line with the terms and conditions. 3.7 You cannot reduce or cancel a bid once it has been placed with the Auctioneer and it is the Auctioneers decision as to whether a bid has been validly made. 3.8 A Contract of sale is made between the Seller and the Buyer on theacceptanceof abidby the fall of theAuctioneer’s hammer. IA is not a party to the Contract. The Buyer will be liable to pay the Purchase Price which is the Hammer Price plus the Buyer’s Premium and any applicable VAT. 3.9 Bids placed within one hour of the auction commencing are not guaranteed to be processed. We recommend you call the office on +44 (0) 1926 691 141 and ask for your bid to be checked. 3.10 If two or more bidders submit identical bids for a Lot, the first bid received takes preference. 3.11 Telephone and commission bids are placed at your own risk. We cannot accept liability for failure to receive or place such bids. 3.12 If you are bidding as agent on behalf of another party you must disclose this fact when you register to bid and provide information as required for identification checks on that third party. Where your bid is successful you are jointly and severally liable with the third party for the full amount owing to us. 4. THE BUYER 4.1 Any doubt as to the Hammer Price or Buyer must be brought to the Auctioneers attention immediately. Any dispute as to any bid shall be settled by the Auctioneer at his/her absolute discretion. Every bidder shall be deemed to act as principal unless prior to the commencement of the Auction there is a written acceptance by IA that a bidder acts as agent on behalf of the named principal, and that its principal has agreed to and/or is bound by these Conditions; in which case he shall be jointly liable with the principal under these Conditions. 5. BUYER’S PREMIUM 5.1 The Buyer shall pay the Buyer’s Premium to IA at the following rates on the hammer price: Motor Cars - 12.5% (plus VAT) on the first £300,000 of the hammer price and 10% (plus VAT) on the balance thereafter, Motorcycles – 15% plus VAT, Automobilia and Lifestyle items - 20% (plus VAT) and Number Plates - 10% (plus VAT). The Buyer acknowledges that IA may also receive the Seller’s Commission due to IA. 5.2 VAT may also be payable on the hammer price of a Lot. Any lots will be clearly marked as such in the catalogue description as follows: † VAT on hammer price and buyer’s premium at the prevailing rate Ω VAT on imported items on the hammer price and buyer’s premium at the prevailing rate* VAT on imported items at a rate of 5% on the hammer price and buyer’s premium plus the prevailing rate on the buyer’s premium* 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.