AUCTION247 LTD –TERMS & CONDITIONS

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SECTION 1 – DEFINITIONS

1.1 For the purposes of these Terms and Conditions, the following expressions shall have the meanings assigned to them below:

(a) “Auction” means any sale of Goods conducted by Auction247 Ltd, whether timed, live, online, or remote, whereby Lots are made available for competitive bidding.

(b) “Auction247 Ltd” means the Auctioneer acting as agent for the Vendor unless expressly stated otherwise.

(c) “Bid” means a legally binding offer submitted by a Bidder to purchase a Lot.

(d) “Bidder” means any individual, partnership, sole trader, or incorporated entity that registers on a platform to place Bids.

(e) “Buyer” means the highest Bidder at the close of a Lot as declared by the Auctioneer.

(f) “Buyer’s Premium” means the non-refundable commission payable by the Buyer in addition to the Hammer Price. Auction247 Ltd’s standard Buyer’s Premium is 26% plus VAT unless stated otherwise.

(g) “Goods” means any items forming a Lot offered for sale.

(h) “Lot” means any individual or grouped Goods offered for sale.

(i) “Vendor” means the party with legal title to the Goods who consigns them for sale.

(j) “Platform” refers to any third-party bidding system including BidSpirit, iBidder, BidSpotter, or The Saleroom.

(k) “B2B Transaction” means a Business-to-Business sale to which consumer legislation does not apply.

(l) “Seal Acceptance Rule” means the contractual rule that once a Buyer opens, breaks, or tampers with packaging, the Goods are deemed fully accepted without further claim.

(m) “Caveat Emptor” means “buyer beware”, the governing principle of all Auctions.

(n) “Pallet Freight Charges” means all fees associated with dispatch, handling, labour, packaging, and carrier collection.

(o) “CCJ” refers to County Court Judgment proceedings initiated for unpaid invoices or breach.

1.2 These Terms apply to every Auction conducted by Auction247 Ltd. Registration and bidding constitute unconditional acceptance.

1.3 These Terms override any conflicting statement in listings, emails, or telephone communications.

SECTION 2 – LEGAL STATUS OF TRANSACTIONS

2.1 All sales are Business-to-Business (B2B). No consumer rights apply.

2.2 The following legislation does NOT apply:

– Consumer Rights Act 2015
– Consumer Contracts Regulations 2013
– Distance Selling Regulations
– Any retail return policy

2.3 All Goods are sold as-is, as seen, with all faults, with imperfections, and with no warranties.

2.4 No guarantee of suitability, performance, age, completeness, or merchantability is provided.

2.5 Auction247 Ltd acts solely as an agent for the Vendor. The legal contract of sale exists between Buyer and Vendor.

SECTION 3 – VIEWING, INSPECTION & CAVEAT EMPTOR

3.1 Viewing may be offered but is not guaranteed.

3.2 Where no viewing occurs, the Bidder accepts all risks associated with bidding.

3.3 Caveat Emptor applies strictly — if unsure, do not bid.

3.4 Stock images may be used; descriptions override images.

3.5 Goods may include customer returns, clearance stock, untested items, or mixed-grade items.

3.6 Buyers cannot request additional information after bidding.

SECTION 4 – BIDDING RULES & BUYER OBLIGATIONS

4.1 Every Bid is binding and irrevocable.

4.2 Auction247 Ltd may reject any registration or Bid.

4.3 Buyers are responsible for all Bids placed through their account.

4.4 Account security is the Buyer’s responsibility.

4.5 Auto-extension rules may apply.

4.6 The Auctioneer’s decision is final.

4.7 Bidders confirm they have financial means to complete the purchase.

SECTION 5 – PAYMENT TERMS

5.1 Payment due within 2 days, by 16:00 Day 2.

5.2 Payments over £1,000 must be made via bank transfer only.

5.3 Time is of the essence.

5.4 Buyers must pay:

– Hammer Price
– Buyer’s Premium
– VAT
– Delivery / Pallet Fees
– Storage Fees
– Enforcement Costs

5.5 Auction247 Ltd may charge the registered card for overdue invoices.

5.6 Chargebacks are expressly prohibited and treated as breach of contract.

6.1 Collections are prohibited unless explicitly authorised.

6.2 Auction247 Ltd is not liable for:

– transit damage
– courier delays
– lost items
– misdelivery
– theft in transit

6.3 Risk transfers to the Buyer once dispatched.

6.4 Title transfers only when full payment is received.

6.5 Opening packaging triggers the Seal Acceptance Rule — no further claims allowed.

SECTION 7 – DEFAULT, NON-PAYMENT & BREACH

7.1 Non-payment constitutes default.

7.2 Upon default, Auction247 Ltd may:

(a) cancel the sale
(b) relist the Lot
(c) apply payments toward outstanding fees
(d) charge 8% above Bank of England base rate interest
(e) apply storage charges
(f) initiate CCJ enforcement

7.3 Storage fees:

– £20 per Lot per day
– £50 per day for high-value/heavy items

7.4 Unpaid items may be sold or disposed of.

7.5 After 10 days, Auction247 Ltd may debit the registered card for:

– full invoice
– half invoice
– one quarter
– Buyer’s premium
– £100
– £50

7.6 Failed payment attempts incur £5 per attempt.

7.7 Defaulting Buyers are banned from all Auctions.

SECTION 8 – STORAGE, HANDLING & ABANDONMENT

8.1 Storage fees apply after failed delivery or non-collection.

8.2 After 28 days, Goods may be deemed abandoned.

8.3 Abandoned Goods may be resold with no refund.

SECTION 9 – LIABILITY LIMITATIONS

9.1 Goods sold strictly as-is, with no warranties.

9.2 Auction247 Ltd is not liable for:

– defects
– missing parts
– condition variations
– courier issues
– resale loss
– expectations not met

9.3 No compensation is provided after delivery.

SECTION 10 – PALLET FREIGHT & HANDLING

10.1 Standard pallet rates:

– Quarter pallet: £59.99–£69.99
– Half pallet: £79.99–£99.99
– Full pallet: £119.99–£149.99
– Oversize: £149.99–£199.99+

10.2 Freight charges are non-negotiable.

10.3 Re-delivery fees apply.

10.4 Buyer accepts all pallet fees by bidding.

SECTION 11 – EXPORT & VAT

11.1 VAT deposits may be required for overseas Buyers.

11.2 Evidence must be submitted within 2 days.

11.3 VAT on Buyer’s Premium is non-refundable.

SECTION 12 – DISPUTES & CLAIMS

12.1 Buyer has 10 days to raise disputes.

12.2 Acceptable grounds: only material misdescription.

12.3 Unacceptable grounds:

– courier damage
– missing accessories
– functionality issues
– subjective dissatisfaction
– opened items (Seal Acceptance Rule)

12.4 Auction247 Ltd’s decision is binding.

SECTION 13 – CHARGEABLE LABOUR & LEGAL RATES

Director: £2,200/day or £350/hour
Manager: £1,500/day or £280/hour
Auctioneer: £600/day or £75/hour
Marketing Manager: £900/day or £150/hour
Support Staff: £400/day or £50/hour

These apply to dispute handling and legal processes.

SECTION 14 – GOVERNING LAW

England & Wales jurisdiction applies exclusively.

SECTION 15 – ENTIRE AGREEMENT

These Terms supersede all other communications.

SECTION 16 – BUYER RESPONSIBILITY

Buyer responsible for:

– compliance
– safety
– suitability
– resale legality

Auction247 Ltd offers no testing or verification.

SECTION 17 – MANIFEST VARIATIONS

Mixed lots may contain:

– substitutions
– missing parts
– damaged goods
– mixed grades

No remedy applies.

SECTION 18 – CONTRACT FORMATION

Contract forms immediately upon winning a Lot.

SECTION 19 – COMMUNICATIONS

Communications are legally valid when sent to registered email.

Calls may be recorded.

SECTION 20 – FRAUD PREVENTION

Suspicious accounts may be suspended.

Chargeback attempts incur:

– £250 admin fee
– £50/day storage
– full enforcement

SECTION 21 – DATA PROTECTION

Auction247 Ltd may share data with Vendors, Platforms, and enforcement officers.

SECTION 22 – RETURNS & HYGIENE

No returns on:

– adult items
– cosmetics
– opened items

Seal Acceptance Rule applies.

SECTION 23 – HEALTH & SAFETY

Collections may be denied for safety reasons.

SECTION 24 – HIGH-VALUE GOODS

AnchorCert may be used for jewellery verification.

SECTION 25 – WARRANTY EXCLUSION

No warranty is provided for any item.

SECTION 26 – FORCE MAJEURE

Auction247 Ltd is not liable for uncontrollable events.

SECTION 27 – PLATFORM INDEPENDENCE

Platforms are not responsible for disputes or refunds.

SECTION 28 – AMENDMENTS

Terms may be updated; the version at bidding applies.

SECTION 29 – CCJ ENFORCEMENT

Non-payment may result in:

– CCJ
– HCEO enforcement
– court fees
– interest
– recovery costs

SECTION 30 – DEBT RECOVERY

Auction247 Ltd may instruct enforcement agents.

SECTION 31 – LEGAL COST RECOVERY

Costs recoverable include:

– solicitor fees
– evidence preparation
– bundle preparation
– court fees

SECTION 32 – EVIDENCE

Digital records, photos, and call logs may be used.

SECTION 33 – TERMINATION

Accounts may be banned for breach.

SECTION 34 – TRADING STANDARDS

Listings comply with Trading Standards guidance.

SECTION 35 – FINAL EXECUTION

Bidding constitutes acceptance of all Terms.