CONDITIONS OF BUSINESS

GENERAL

The following conditions together with such other terms,

conditions and notices as may be set out in any relevant

catalogue apply to all sales by Coys at auction or to

any retail sale. It is the intention of Coys that all terms

between it and the Seller and the Buyer are contained in

the Conditions.

No alteration to the Conditions will be binding unless

accepted by Coys in writing. The Conditions are subject

to amendment by Coys provided it is reasonable for it to

do so by the posting of notices or by oral announcement

made by the Auctioneer prior to or during the sale.

Nothing in the Conditions shall affect the statutory rights

of a consumer.

DEFINITIONS

1. In these Conditions :

1.1. “Coys” means Coys of Kensington Automobiles.

1.2. ”Auctioneer” means the representative of Coys

conducting the Auction

1.3. ”Catalogue” includes any advertisement, brochure,

estimate, price list and other publication

1.4. ”Hammer Price” means the price in pounds sterling

(or the currency in which the sale is conducted) at which a

Lot is knocked down by the Auctioneer to the Buyer

1.5. ”Buyer” means the person to whom a Lot is knocked

down by the Auctioneer

1.6. ”Lot” means any item(s) consigned with the view to

its or their sale at auction

1.7. ”Expenses” in relation to the sale of any Lot

means Coys charges and expenses for insurance, storage,

illustrations, cataloguing costs, special advertising, packing

and freight of that Lot and any VAT thereon

1.8. ”VAT” means Value Added Tax applicable at the

prevailing rate from time to time

1.9. ”Motor Vehicle” means any item included or

proposed to be included in a sale of motor vehicles

1.10 ”Reserve” means the minimum Hammer Price

agreed between Coys and the Seller at which a Lot may

be sold

1.11 ”Purchase Price” means the Hammer Price together

with VAT thereon, the Premium and any additional

charges or Expenses due from any Buyer under Condition

22

1.12 ”Premium” shall have the definition given in

Condition 19

1.13 ”Sale Proceeds” means the net amount due to

the Seller being the Hammer Price less the Seller’s

commission, any VAT thereon, Expenses and any other

amount due to Coys from the Seller

1.14 ”Seller” means the person who offers the Lot for

sale

1.15 ”Seller’s Commission” shall have the definition

given in Condition 10

1.16 ”The Auction” means the auction sale in respect of

which a Lot is consigned for sale

2. Coys as Agent

Coys sells as agent for the Seller (except where it is

expressly stated to be selling as principal) and is not

liable for any act or default by the Seller or the Buyer. All

sales are to be presumed to be sales on behalf of private

individuals unless specifically notified to the contrary in

the catalogue, or elsewhere in writing.

3. Coys’ Discretion

3.1. Coys has the right at 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.

3.2. If Coys is notified about the Seller’s alleged breach

of any of the Conditions before it has remitted the

Sale Proceeds to the Seller, it may at its sole discretion,

withhold payment until that dispute is resolved. Coys

may, however, deduct any sums that are due to it from

the sum held.

4. Loss or Injury

Coys shall be under no liability for any injury, damage

or loss sustained by any person while on Coys’ premises

(including any premises where a sale may be conducted or

where a Lot, or part of a Lot, may be on view from time

to time) except for death or personal injury, damage or

loss caused by the negligence of or other breach of duty

by Coys, its employees or agents in the ordinary course of

their duties to Coys.

5. Governing Law

All transactions to which the Conditions apply shall be

governed by English Law and Coys, the Seller and the

Buyer hereby submit to the exclusive jurisdiction of the

English Courts.

6. Notices

6.1. Any notice by Coys to a Seller, Buyer or any other

person may be delivered by hand or sent by first class

mail or airmail and shall be deemed to have been duly

received:-(a) If hand-delivered, at the time of delivery;

(b) If sent by mail, two days after the date of posting if

posted to an address within the country of posting and

seven days after the date of posting if posted to an address

within a country outside the country of posting.

6.2. In proving service by delivery :-(a) By hand, it shall be necessary only to produce

a receipt for the notice signed by or on behalf of the

addressee;

(b) By post, it shall be necessary only to prove that the

notice was contained in a pre-paid envelope which was

duly addressed and posted first class.

6.3. Coys do not accept service of any notice by

facsimile.

THE SELLER’S CONDITIONS

7. Warranty by Seller

7.1. The Seller warrants to Coys in the terms of subparagraphs

(a) to (f) below and to the Buyer in the terms

of sub-paragraphs (a), (b) (e) and (f) below that :-(a) The Seller is the owner of the Lot or is properly

authorised to sell the Lot by the owner and is able to sell

the Lot with full title guarantee (ownership) free from all

incumbrances and third party claims;

(b) The Seller has complied with all requirements relating

to any export or import of the Lot and has notified Coys in

writing of any failure to comply with such requirements

by the Seller or any previous owner of the Lot;

(c) The Seller has notified Coys 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 Coys with all such

information in the Seller’s possession;

(d) The Motor Vehicle may lawfully be used on a road

and complies with all statutory provisions and that there

is in force any test certificate required by law in relation to

such use or the Seller has notified Coys in writing that the

Motor Vehicle cannot lawfully be used on a road.

(e) The Seller shall compensate Coys and the Buyer in

full for all losses, Expenses or other costs which are caused

by the Seller’s breach of any obligation of the Seller under

the Conditions;

(f) The Seller of a Lot not in the possession of Coys on

its premises or under its control warrants and undertakes

that the Lot will be available and in a deliverable state on

demand by the Buyer.

7.2. The Seller warrants that the information about the

Lot given to Coys, and statements made about it, are true.

In the event of a Motor Vehicle which is discovered not

to be in the state in which the Seller represented to Coys

that it was, Coys may at its absolute discretion whether

before or after the Lot is sold, carry out such work to the

vehicle as is necessary to put it into the state that the Seller

represented it to be and shall deduct the cost of such work

from any sums due to the Seller.

8. Vehicle Registration Numbers

8.1. If the Seller wishes to sell the Vehicle but to retain

the right to the registration number of the Vehicle, it is the

Seller’s responsibility to notify Coys in writing either on

the Auction Entry Form or sooner.

8.2. It shall be the Seller’s responsibility to take

all necessary steps to ensure that the current Vehicle

registration number is reserved and that a new number

is allocated prior to the Vehicle being sold at the Auction

and if he does not do so, Coys shall not be responsible for

any loss or damage whatsoever arising out of the sale of

the Vehicle.

8.3. Coys may, at its own discretion, (without any

assumption of responsibility or duty towards the Seller or

the Buyer) take such steps to facilitate the reservation or

transfer of any particular registration number as it thinks

fit in order to assist the Seller or Buyer but strictly on

condition that no claim attaches to Coys for taking any

such steps whether arising out of Coys’ negligence or any

other cause whatsoever.

9. Reserves

9.1. The Seller may place a Reserve on any Lot prior to

the Auction and once placed by the Seller may not be

changed without the written consent of Coys. All Lots will

be sold without Reserve unless a Reserve has been agreed

by Coys in writing.

9.2. Where a Reserve has been agreed, only Coys may

bid on behalf of the Seller. If the Seller makes such bid,

then the Auctioneer may knock the Lot down to the Seller

without observing any Reserve and the Seller shall pay

to Coys the Buyer’s Premium in addition to the Seller’s

Commission and Expenses.

9.3. Where a Reserve is agreed, Coys may sell a Lot for

less than the Reserve but shall account to the Seller as if

the Lot had been sold for the Reserve.

9.4. Where no Reserve has been placed, the Seller may

bid either personally or through the agency of any one

person.

9.5. If no Reserve has been placed on a Lot, Coys shall

in no way be held liable should the Lot be purchased for

a price below any lowest estimated selling price of the Lot

given in any Catalogue.

10. Commission and Expenses

10.1. Coys shall be entitled to deduct from the Hammer

Price and retain a Commission of 10% plus VAT (or, in the

case of automobilia, 15% plus VAT) or such other sum

agreed by Coys in writing and Expenses and any other

sums due from the Seller to Coys.

10.2. The Seller acknowledges Coys right to retain

the Premium payable by the Buyer in accordance with

Condition 19.

11. Photography and Illustrations

The Seller permits Coys without payment to photograph

and make illustrations of any Lot and to use at its

discretion any photograph or illustration of or in respect of

a Lot supplied by the Seller, whether or not in conjunction

with the Auction. The copyright in all photographs taken

and illustrations made of any Lot by or on behalf of Coys

shall be the absolute property of Coys.

12. Coys’ Estimates and Descriptions

12.1. Coys make no warranty or representation as to the

anticipated or likely selling price of any Lot. Any estimate

given by Coys, whether written or oral and whether or

not printed in any Catalogue, as to the estimated selling

price of any Lot is a statement of opinion only and may

be subject to revision from time to time at Coys’ sole

discretion and should not be relied upon as an indication

of the actual selling price.

12.2. Coys shall not be liable to the Seller for any error or

mis-statement in or omission from the description of any

Lot in any Catalogue where:-(a) Coys have been provided with such description by the

Seller or any person on his behalf; or

(b) Coys have 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 have

notified Coys in writing within seven days of any error or

mis-statement in or omission from the description.

12.3. Coys has no duty to the Seller to investigate the

accuracy of the description of any Lot provided by or on

behalf of the Seller.

13. Unsold Lots

13.1. Where any Lot fails to sell, Coys will have the sole

and exclusive right to sell the Lot by private treaty within

10 days of the Auction date.

13.2. In the event that Coys sells the Lot by private treaty

pursuant to Condition 13.1, Coys shall account to the

Seller for a sum not less than the sum due to the Seller as

if the Lot had been sold for the Reserve.

13.3. Any sale by private treaty shall be subject to the

Conditions or to commission and Expenses as if it had

been sold by Auction.

13.4. Coys shall have the right to exercise a charge on

the unsold Lot, or any other property belonging to the

Seller in the possession of Coys for any purpose, and to

apply any money due or to become due to the Seller in

or towards settlement of any sum due at any time to Coys

from the Seller.

14. Insurance

14.1. The Lot shall at all times remain at the risk of the

Seller until ownership of the Lot passes from the Seller

under these Conditions.

14.2. Coys will not be responsible for any damage

to or the loss or destruction of a Lot unless caused by

the negligence of or other breach of duty by Coys, it

employees or agents in the ordinary course of their duties

to Coys and the Seller shall compensate Coys in full in

respect of all other claims and proceedings brought against

Coys in respect of any loss or damage to the Lot.

14.3. Coys will not be liable for any injury, loss or

damage caused by any Lot unless caused by the negligence

of Coys, its employees or agents in the ordinary course of

their duties to Coys or by the Seller’s negligence or other

breach of the Conditions. The Seller shall compensate

Coys in full in respect of all claims and proceedings

brought against Coys in respect of injury, loss or damage

caused by the Seller’s negligence or breach of any

obligation under the Conditions.

15. Payment of Sale Proceeds

15.1. Coys shall pay the Sale Proceeds to the Seller not

later than 35 days after the Auction providing that the

Purchase Price has been received in full by Coys. Unless an

alternative method of payment has been agreed by Coys

in writing, payment shall be made by sending to the Seller

a cheque drawn on Coys’ client account by first class post

at the Seller’s risk.

15.2. If the Purchase Price has not been received in

full by Coys within the time specified in Condition 15.1

Coys will pay the Sale Proceeds to the Seller within five

working days after the date on which the Purchase Price

is received in clear funds from the Buyer.

15.3. Coys reserves the right not to remit the Sale

Proceeds to the Seller unless the Seller has deposited with

Coys the V5 registration document in the case of a UK

registered vehicle or, in the case of a non-UK registered

vehicle, the appropriate documents of title (ownership)

relevant and appropriate to the country of registration

of the vehicle, and any other documentation relating to

the vehicle in the Seller’s possession or control which he

agreed with Coys to supply.

15.4. If the Buyer fails to pay the Purchase Price within

thirty-five days of the Auction, Coys will notify the Seller

who may instruct Coys as to the appropriate course of

action. Coys will endeavour to assist the Seller but Coys

shall be under no obligation to institute proceedings in

its own name.

15.5. In the absence of any written instructions from the

Seller to Coys within seven days of Coys having notified

the Seller under 15.4 above then Coys shall be entitled to

do any of the following :-(a) To agree terms for the payment of the Purchase

Price;

(b) To remove, store and insure the Lot;

(c) To settle claims and/or proceedings made by or

against the Buyer on such terms as Coys shall at its

absolute discretion think fit;

(d) To take such steps as Coys shall at its absolute

discretion consider necessary to collect the monies due

from the Buyer;

(e) Where appropriate to rescind the sale and refund any

monies to the Buyer;

(f) To offer the Lot for re-sale, by Auction or private

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private

treaty, with or without Reserve;

(g) Where appropriate to rescind the contract with the

Buyer and to purchase the Lot itself. If it does so, property

in the Lot shall pass to Coys on its election and Coys shall

remit the Purchase Price to the Seller within fourteen

days of its election less the commission and Expenses or

sums due to Coys which would have been payable had the

contract not been rescinded;

(h) To appoint a solicitor and/or other agent to pursue

any of the courses of action referred to in sub-paragraphs

(a) to (g) above and the Seller authorises Coys to take

any of the courses referred to in this Condition, including

the issue and prosecution of proceedings on the Seller’s

behalf.

15.6. Any monies recovered by and paid to Coys in

consequence of Coys taking one or more of the steps

referred to in Condition 15.5 shall be applied to the

payment of :-(a) Legal or other costs incurred by Coys in connection

with such steps; and then

(b) Expenses ; and then

(c) The Buyer’s Premium and the Seller’s Commission

on the sale of the Lot;

(d) Any balance remaining shall be paid by Coys to the

Seller (or, if appropriate, the Buyer). In the event that

there shall be a shortfall, any such shortfall shall be made

good by the Seller to Coys on demand.

15.7. In the event that within seven days of receipt of

the notice referred to in Condition 15.5 the Seller informs

Coys that he wishes to take re-delivery of the Lot, he

shall be entitled to do so but only upon prior payment

of all commissions earned by Coys on the sale of the

Lot together with Expenses and all legal and other costs

reasonably incurred by Coys so as to keep Coys fully

recompensed.

16. Withdrawal Fees

16.1. The Seller may by notice in writing to Coys

withdraw the Lot from the Auction. If the Seller does so

prior to the publication of the Catalogue he shall be liable

to pay Coys 10% or an amount equal to the commission

Coys would have received from the Seller if less than 10%

of the estimated value of the Lot. The estimated value

shall be the higher of:-(a) The Seller’s estimate of value as previously notified

to Coys or, if more than one figure, the highest figure

or if none;

(b) The value estimated in the Catalogue, or if more than

one figure is given, the highest figure;

(c) Plus in either case VAT on such fee and Expenses.

16.2. A fee equal to the commission referred to in

16.1 above plus an amount equivalent to the Buyer’s

commission referred to in Condition 19, being 15% and

VAT and Expenses will be charged if the Lot is withdrawn

after a Catalogue referring to the Lot shall have been

published.

16.3. In the event that the Seller withdraws the Lot from

the Auction, the Seller shall arrange for collection and

removal of the Lot at his own expense within two working

days after the date of withdrawal provided that the Seller

may not collect the Lot unless and until any withdrawal

fee payable under Conditions 16.1 and 16.2 shall have

been paid in full.

16.4. If Coys has reasonable cause for believing that

either the Seller is in breach of any one or more of the

warranties set out in Condition 7 or Coys and/or the

Seller may be restrained by Order of any Court or other

competent authority from selling the Lot, Coys may by

giving notice in writing to the Seller decline to sell the

Lot and Conditions 16.1, 16.2 and 16.3 above shall apply

as if the notice from Coys were a withdrawal of the Lot

by the Seller.

16.5. The Seller shall reimburse to Coys any legal or other

costs reasonably incurred by it in investigating any claim

concerning the ownership of a Lot and/or the Seller’s

right to sell the Lot, the accuracy of the description of the

Lot contained in the Catalogue or in defending any claim

relating thereto and Coys shall be entitled to withhold the

amount of such costs from any payment due to be made

to the Seller in accordance with Condition 15.

16.6. Coys may set off any monies due to it from the

Seller, including without limitation withdrawal fees and

any costs incurred by it under Condition 16 against any

sale proceeds due to the Seller in respect of the same or

any other Lot deposited with Coys by the Seller.

17. Removal and Storage

17.1. The Seller shall arrange for the removal of any

unsold Lot by 1.00 pm the day following the Auction or

by such other time as agreed by Coys.

17.2. Failure to remove any unsold Lot pursuant

to Condition 17.1 above will entitle Coys to charge the

Seller any removal, storage, insurance and other Expenses

in accordance with the “General Information” section of

the catalogue.

17.3. If within 28 days after the Auction the Seller fails

to give instructions to Coys regarding the disposal of the

Lot, Coys shall have the exclusive right to sell the Lot by

private treaty and to deduct from the sale price any sums

owing to Coys or by Auction without Reserve and to

deduct from the Hammer Price any sums owing to Coys.

THE BUYER’S CONDITIONS

18. The Buyer

18.1. The Buyer shall be the highest bidder at the

Hammer Price. Any dispute as to any bid shall be settled

by the Auctioneer at his absolute discretion.

18.2. Every bidder shall be deemed to act as principal

unless prior to the commencement of the Auction there

is a written acceptance by Coys that a bidder acts as agent

on behalf of the named principal.

18.3. No person shall be entitled to bid at the Auction

without first having completed and delivered to Coys a

bidder’s registration form and bidders attention is drawn

to the information in the Catalogue under the heading

“General Information”.

19. Premium

The Buyer shall pay Coys a Premium of 15% on the first

€50,000 of the Hammer Price and 10% upon any

excess together with VAT thereon (“the Premium”), in the case of

automobilia 20% premium, and

the Buyer acknowledges that Coys may also receive the

Seller’s Commission due to Coys under Condition 10.

20. Value Added Tax

VAT payable by the Buyer on the Hammer Price may be

refundable by Customs and Excise on proof of export.

Coys makes no warranties in this regard.

21. Payment

21.1. A contract of sale is made between the Seller and

the Buyer on the acceptance of a bid by the fall of the

Auctioneer’s hammer. Coys is not a party to the contract

of sale and has no liability for any act or default by the

Seller or the Buyer.

21.2. Immediately a Lot is sold, the Buyer shall :-(a) Give to Coys his name and address and, if so

requested, proof of identity if he has not already done

so; and

(b) Pay to Coys the Purchase Price unless credit

terms have been agreed with Coys in writing before the

Auction.

21.3. Full payment for all Lots must be made to Coys by

means of bankers draft, cash, telegraphic transfer or debit

card in pounds sterling or the currency in which the sale

was conducted. Where the Buyer wishes to pay by cheque

and Coys has agreed that the Buyer may do so, the Lot will

not be released until the cheque has been cleared.

21.4. No Lot may be collected until the Purchase Price

has been received by Coys and payments by a Buyer

to Coys may be applied by Coys towards any sums due

from that Buyer to Coys on any account whatsoever

notwithstanding any directions to the contrary by the

Buyer or his agent whether express or implied.

21.5. The ownership of the Lot will pass to the Buyer

only when the Purchase Price in cleared funds has been

received by Coys.

21.6. Immediately a Lot is sold the risk shall pass to the

Buyer notwithstanding that possession will not be given

and ownership will not pass to the Buyer before payment

of the Purchase Price and Coys will not be responsible for

any damage to or the loss or destruction of the Lot or any

injury, loss or damage caused by the Lot unless caused

by the negligence of or other breach of duty by Coys, its

employees or agents in the ordinary course of their duties

to Coys. The Buyer will compensate Coys in full in respect

of all claims and proceedings brought against Coys in

respect of any loss or damage to the Lot or injury, loss or

damage caused by it not arising from the negligence of or

other breach of duty by Coys, its employees or agents in

the ordinary course of their duties to Coys.

22. Removal of Purchases

22.1. The Buyer shall, at his own expense, remove the

Lot purchased not later than the day and time specified

in the “General Information” section of the Catalogue but

not before payment in full to Coys of the Purchase Price

whether in respect of this or any other Lot.

22.2. The Buyer shall be responsible for all removals,

storage, insurance and other charges on any Lot not

taken away at the day and time specified in Condition

22.1 above.

23. Responsibility for Lots Purchased

23.1. The Buyer will be responsible for loss or damage

to a Lot purchased by him from the fall of the hammer

and neither Coys nor its employees or agents shall be

responsible for any loss or damage unless caused by the

negligence of Coys, its employees or agents in the ordinary

course of their duties to Coys while the Lot is in Coys

custody or under its control.

23.2. It shall be the responsibility of the Buyer to

ensure that any Motor Vehicle purchased at Auction

complies with the appropriate statute or regulation for

driving, using or transporting it and for ensuring that any

necessary test certificate is in force.

23.3. The Buyer shall be responsible for obtaining

any export licence that may be required in connection

with the Lot.

24. Non-payment or Failure to Collect

24.1. If the Purchase Price is not paid in full in

accordance with the above Conditions Coys, as the agent

of the Seller, shall at its absolute discretion and without

prejudice to any other rights it may have, be entitled

to exercise one or more of the following remedies, that

is to say :-(a) To charge interest at a rate not exceeding 1.75% per

month on so much of the total amount due as remains

unpaid after the date and time referred to in Condition

21.2;

(b) To remove, store (either at Coys’ premises or

elsewhere) and insure the Lot at the expense of the

Defaulting Buyer;

(c) To retain that or any Lot sold to the same Buyer at

the same or any other Auction and to release it only after

payment of the total amount due;

(d) To reject or disregard any bid or bids made by or on

behalf of the Defaulting Buyer at any future auction or to

require payment of a deposit before any future bid made

by or on behalf of that Buyer;

(e) 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 on any property

of the Defaulting Buyer which is in Coys’ possession for

any purpose.

24.2. If the Buyer fails to make payment within 14 days

after the date and time referred to in Condition 22.1, Coys

shall at its absolute discretion and without prejudice to

any other rights it may have, be entitled to exercise one or

more of the following additional remedies :

(a) To proceed against the Buyer for damages for breach

of contract;

(b) To cancel the sale of that or any other Lot sold to

the defaulting Buyer at the same or any other auction

notwithstanding the total amount due in respect of such

other Lot shall have been paid;

(c) 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

Coys 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.

24.3. If the Lot is not taken away on the date and time

referred to in Condition 22.1, whether or not the purchase

price has been paid, Coys shall remove, store (either at

Coys’ premises or elsewhere) and insure the Lot at the

expense of the defaulting Buyer and only release the Lot

after payment of the total amount due.

24.4. If the Buyer fails to collect the Lot within 35 days

after the date and time referred to in Condition 22.1, Coys

shall at its absolute discretion and without prejudice to

any other rights it may have, be entitled to exercise one

or more of the following additional remedies:

(a) To cancel the sale of the Lot;

(b) To re-sell the Lot or cause it to be re-sold by public

auction or private sale and to set off the total amount due

in respect of that Lot against the sale proceeds and any

surplus shall belong to the defaulting Buyer.

25. Liability of Coys and the Seller

25.1. Any motor vehicle is sold as a collector’s item and

not as a means of transport. Buyers are specifically warned

that any vehicle sold as such may well have had parts

replaced and paint renewed or be made up of parts from

other vehicles the condition of which may be difficult

to establish. Coys has to rely on information as to date,

condition and authenticity provided by Sellers and does

not, and cannot, undertake its own inspection of vehicles

or other Lots to establish whether the vehicle or other Lot

conforms with the description in the catalogue. It is the

responsibility of the Buyer to carry out such inspection as

he thinks necessary.

25.2. No warranty is given by Coys as to the accuracy of

the description of any Lot in any Catalogue or as to the

age, authenticity, suitability, provenance, attribution,

origin, condition, fitness for purpose, merchantable or

satisfactory quality of any Lot or roadworthiness of any

Motor Vehicle.

25.3. In bidding for any Lot, the Buyer acknowledges

that he does not rely on any representation made

to him by Coys, its employees or agents unless such

representation has been confirmed by Coys in writing

prior to the Auction.

25.4. In any event :-(a) Coys shall only be liable for losses that are

foreseeable; and

(b) The maximum liability of Coys, its employees or

agents to a Buyer shall be limited to the Hammer Price of

the relevant Lot and the Buyer’s Premium (if paid by the

Buyer) and the maximum liability to the Seller shall be

the Sale Proceeds of the Lot.

26. Absentee Bids

Whilst the interest of prospective Buyers are best served

by attendance at the Auction, Coys will if so instructed

execute bids on behalf of prospective bidders. Coys, its

agents or employees shall not be responsible for any

defaults beyond Coys control relating to telephone, fax

or other absentee bids including without limitation any

telecommunications fault or failure.

27. Miscellaneous

27.1. The benefit and burden of the Conditions may not

be assigned by the Seller or the Buyer without Coys’ prior

agreement in writing.

27.2. If any Condition or any part of any Condition shall

be held to be unenforcable or invalid such unenforceability

or invalidity shall not affect the enforceability and validity

of the remaining conditions or the remainder of the

relevant condition.

27.3. The headings and numbering used in the Conditions

are for convenience only and shall not affect their

interpretation.

27.4. Reference to the male gender shall be deemed to be

a reference to male or female as appropriate.

27.5. Any concession or latitude allowed by Coys shall

not affect Coys’ rights under or release the Seller to the

Buyer from liability