Middleton Barton Asset Valuation has been instructed by Beacon Fell Limited to offer for sale by online auction an extensive inventory of surplus stock which includes quality carbon and aluminium frames, assorted accessories and sundry items. This online auction presents a unique opportunity to purchase quality high specification items produced by an iconic British brand at low reserve prices!
Online Auction of Premium Carbon & Aluminium Frames, Consumable Accessories, Cycling Peripherals & Assorted Display Items.
All lots are subject to a Buyer's Premium of 15% and VAT at 20%.
Sale Currency: GBP
Monday 30th March 2020 (viewing strictly by appointment).
Please contact the auctioneer’s office on 0161 2172727 to make an appointment.
Nr. Longridge, Preston, Lancashire.
Bidding opens at 9am on Thursday 26th March 2020 and closes at 12 noon on Thursday 2nd April 2020. Upon bidding ending the Auctioneers, Middleton Barton Asset Valuation Limited (“MBV”), will consider the winning bids for acceptance and seek approval from the vendor prior to sale completion.
MBV reserves the right to reject any bid which does not reflect a reasonable value.
Successful bidders will be notified by email before 5pm on Friday 3rd April 2020.
INSTRUCTIONS FOR BIDDING:
Full details including valid email address must be provided in order to receive approval for bidding. MBV will retain all bidder details on our mailing list and may use these details for future sale notifications. Bidder details will not be shared with any third parties. Please contact the Auctioneers office on 0161 2172727 if you wish to be removed from our database.
In the event of a bid being received within 10 minutes of the scheduled closing time, the bidding period on that lot will automatically extend by a further 10 minutes and for a further 10 minutes for any bid received thereafter.
If more than one maximum bid is placed of the same amount, the maximum bid placed first will be considered the highest bid and a further bid will need to be to be placed to take the lead. Bidders are notified by an automated message which appears on their screen.
When bidding ‘REFRESH’ your screen to ensure you are aware of current bids.
A Buyers Premium of 15% will be added to all winning bids, Buyer Premium charges are not negotiable.
VAT on buyers premium is payable even if goods are exported.
All purchases are to be paid for in full for no later than 5pm on Tuesday 7th April 2020.
Please contact the Auctioneers office on 0161 2172727 for any queries regarding payment.
Payment can be made by cash (to a maximum of £9,000), Debit Card, Credit Card (subject to a 4% surcharge on the total bill amount) or by CHAPS transfer to the Auctioneers client account as specified in the sale catalogue. Cash payments of £9,000 or over will not be accepted.
Should payment not be received for any lot by the stated payment deadline, the auctioneer reserves the right to withdraw from the sale of that lot.
Invoices are raised to the buyer registered and approved to bid in the auction. Any purchaser requesting amendments to an invoice post auction should note that amendments will only be carried out at the Auctioneers discretion and Middleton Barton Asset Valuations Limited reserve the right to charge and administration fee to make amendments to an invoice.
VALUE ADDED TAX:
Purchasers will be charged Value Added Tax on all lots, where applicable, and on any Buyers Premium charged. Value Added Tax will be charged at the current rate of 20%.
In respect to any goods which are exported, Breal Asset Valuations Limited WILL NOT refund the VAT charged on Buyers Premium, if you are not satisfied with this policy then please do not bid.
All lots must be paid for in full (by way of cleared funds) prior to delivery.
Proof of purchase will be required upon collection of any lot.
Once payment has been received the auctioneer will co-ordinate delivery of the goods to the purchaser within 21 days of payment being received, the auctioneers endeavour to dispatch goods at the earliest opportunity once payment has been received.
Delivery charges will be re-charged to the purchaser at cost. An estimate will be provided to the purchaser prior to dispatch and the purchaser will have the opportunity to make alternative arrangements with their own courier at their own costs.
Unfortunately, lots will not be available for collection unless expressly agreed by the auctioneer, in cases were large multiples of lots are purchased by a single buyer.
Goods become the responsibility of the purchaser upon receiving notification of a winning bid and we strongly recommend purchasers insure against all risks (see conditions of sale). Title does not pass to the purchaser until payment has been received in full.
The Auctioneers undertake that care has been taken to see that the catalogue descriptions and advertisements are accurate and reliable, but these are necessarily statements of opinion and must not be relied upon as statements of fact. Neither the Vendor nor the Agents/Auctioneers are responsible for errors of description, the genuineness, attribution or authenticity of any lot. All prospective bidders are strongly advised to view lots prior to bidding.
CONDITIONS OF SALE:
All lots will be sold subject to these Conditions of Sale and our standard terms and conditions (which are available by request from the auctioneer’s office). Bidders are strongly advised to read them carefully.
TRANSFER OF LOTS:
MBV will only accept payment from and permit removal of lots purchased by the successful purchaser or their duly appointed agent.
Overseas purchasers must contact the auctioneer’s office on 0161 2172727 upon receiving notification of winning lots. Overseas purchasers will be required to provide their passport(s) and one other method confirming their identity (i.e. a drivers licence), their name, address, details of a UK agent acting on their behalf (if any), telephone and fax numbers. In addition, the auctioneers will require full details of their national bank and their UK corresponding bank, details from their bank confirming method of payment, etc.
Please satisfy yourselves that:
- Your country, or the country to which the items are destined, holds no import restrictions on the goods that you wish to purchase.
- The country has no import licence restrictions or a restriction on currency allocation.
- The country has no prolonged inspection procedure, which might cause excessive delay in allowing your goods to be imported.
- You receive a fully descriptive invoice in order that you may arrange payment as soon as possible with our bank.
- You employ a reputable freight-forwarding organisation. Please note that many of the machinery removal companies in this country are not necessarily freight forwarders. We will be pleased to advise accordingly.
- You have read and understand the Breal Asset Valuations Limited’s Conditions of Sale.
VAT on goods exported will only be refunded upon MBV receiving valid evidence of export within 31 days of the auction end date. Where satisfactory evidence is not provided, goods will be subject to UK VAT at the standard rate of export and any deposits made will not be refunded. VAT on Buyers Premium is non-refundable.
If you intend to export your purchases using your own transport (either by sea, rail or air), then VAT will be levied and refunded upon receipt of satisfactory documentation, supporting removal of the goods purchased.
MBV reserve the right to refuse to accept the bid of any bidder should they be unable to satisfy MBV on any of the above conditions.
TERMS & CONDITIONS OF SALE
GENERAL TERMS AND CONDITIONS OF SALE OF MIDDELTON BARTON ASSET VALUATION LIMITED OF SUITE 417, BLACKFRIARS HOUSE, ST MARY'S PARSONAGE, MANCHESTER, M3 2JA, UK.
1.1) In these Terms and Conditions of Sale, the following words will have the following meanings:
a) “The Agents” means Middleton Barton Asset Valuation Limited or any Employee thereof at the time of Sale.
b) “The Auctioneers” means the person conducting the auction/sale, Middleton Barton Asset Valuation or any Employee thereof at the time of Sale.
c) The “Purchaser” shall have the meaning ascribed to it in condition 4 below and Purchasers shall be deemed to be principals (for the purpose of these conditions) unless to the knowledge of the Agents and Auctioneers they are acting as agents on behalf of a named principal.
d) The “Vendor” means the person owning or having the right to sell the goods offered for sale.
2.1. The Agents/Auctioneers act only as agents for the Vendor (unless otherwise directly declared). Vendors are not paid until payment is received from the Purchaser. The Agents/Auctioneers are not necessarily in a position to know the history or assess the quality of the Goods sold on behalf of Vendors. Furthermore, Goods sold are likely to have been subject to wear and tear caused by use or the effects of age and may therefore have faults and imperfections. Purchasers are given an opportunity at the viewing period to examine lots to be sold and will be assumed to have done so. Purchasers are deemed to have satisfied themselves as to the condition of the Goods before bidding and the Goods are therefore sold as seen with no guarantee or warranty being given or implied.
2.2. The Interpretation Act 1978 applies to the terms and expressions used in these Terms and Conditions of Sale as if contained in statute and these Terms and Conditions of Sale shall be governed by English law, and any dispute arising out of or in connection with the sale and, or the Terms and Conditions shall be dealt with in an English court of Law.
3. THIRD PARTY LIABILITY
3.1. The agents/auctioneers restrict their liability for any injury, damage or loss to the fullest extent possible by law howsoever caused to or sustained by any person on the agents/auctioneers premises or any site where an auction is held including the period during which viewing and subsequent removal takes place. In the event that the agents/auctioneers are legally liable, their liability is restricted to £1,000,000’.
3.2. No liability shall attach to the auctioneer or the seller either in contract or in tort for loss, injury or damage and legal or other expenses sustained by the purchaser or anyone who attends the sale or his property at any time whether prior to during or after removal of the Goods by reason of:-
a) any defect in the Goods sold, whether or not such defect be latent or apparent on inspection;
b) any defect or danger in or on the premises where the Auction is held;
c) any use or misuse of any of the plant or machinery or equipment present on the premises w here the Auction is held, including without limitation, forklifts, travelling gantry cranes and other craneage etc;
d) any act or omission of the Auctioneer in the conduct of the Auction/Sale or after the Auction/Sale;
e) any act or omission of any person other than the Auctioneer;
f) in no circumstances shall the Auctioneer be liable to any person who may attend or bid at the Auction/Sale nor to any agent or employee of such person for any consequential loss or damage howsoever caused.
Each of the clauses 3 to 3.2 and the sub-clauses therein shall be severable and take effect as separate conditions and sub-conditions as the case may be.
4.1. All offers and bids made shall be treated as offers made upon these Terms and Conditions of Sale, and all persons present at the Auction/Sale and offerors acknowledge that their attention has been drawn to these Terms and Conditions of Sale and that they are bound by them. Subject to these Terms and Conditions, the highest bidder/offeror shall be the Purchaser, subject to the approval of the bid by the vendor
5. AUCTIONEERS’ DISCRETION
5.1. The Auctioneers have the right to:
a) Refuse any bid.
b) Advance the bidding at his own discretion.
c) Decide whether there has been a dispute as to the bidding and, if so, immediately re-offer the Goods in question.
d) Divide, combine, and withdraw any lots.
e) Exclude any person from the Auction process.
6. VENDORS RIGHTS
6.1. Goods offered for sale are subject to the following:
a) Any reserve price placed by the Vendor.
b) The right of the Auctioneers to bid on behalf of the Vendor.
c) When a reserve price has been placed (but in no other case) for the Vendor to bid personally or through any agent.
d) VAT at the applicable local rate if appropriate.
7. DUTIES OF PERSONS PRESENT, PURCHASERS AND PAYMENT TERMS
7.1. All persons present at an auction/sale and or taking part in an on-line auction agree to refrain from conduct which may cause a nuisance to others present.
7.2. Upon the Auctioneer declaring any lot/Goods sold, the Purchaser shall immediately:
a) Supply a Banker’s reference unless prior arrangements have been made.
b) Subject to vendor approval being obtained pay the full purchase price and the Auctioneers’ premium, if any, plus any chargeable VAT, unless prior approval has been obtained from the Auctioneer to pay upon the fall of the hammer a deposit of 10% of the purchase price and the Auctioneers’ premium. Where a deposit has been approved by the Auctioneer, the balance must be paid in full by 4pm the following day.
c) On proof of payment in full, clear any lot expeditiously and at the latest by the date and times specified in clause 7.3.
d) Pay a premium at the rate specified (at 15% unless otherwise specified in the notice to bidders and conditions of auction) of the price realised for each lot/the Goods, whether sold by auction or private treaty, plus VAT thereon (such premium to belong to the Auctioneers).
e) Should payment not be received within the timescales specified in clause 7 then the Auctioneer reserves the right to retain any deposit paid.
7.3. The time for complying with clause 7.2 above shall be the time specified in the Auction catalogue or sale particulars, or if no time specified there, 4pm on the next working day, and in every case time shall be of the essence.
7.4. The Auctioneer may at any time in his sole discretion grant the Purchaser an extension of time for complying with clause 7.2 above, in which case the Purchaser shall pay to the Auctioneer in full before moving or removing the Lot interest on any unpaid sums at a rate of 4 per cent above Barclays Bank plc base rate in force from time to time.
7.5. Payment to be made in Sterling unless otherwise specified in the Auction Sale Catalogue/Sale Particulars.
Payment will be accepted by:
a) Cash up to an amount of £9,000.00.
b) Telegraphic transfer to the following account:
Bank: Barclays Bank
Account: Middleton Barton Asset Valuation (Client Account)
Account Number: 93877647
Sort Code: 20-69-85
c) Bankers draft. (Bankers drafts must be made payable to Breal Asset Valuations Limited)
In relation to goods sold that will be exported, a VAT deposit equal to the amount of applicable VAT payable will be taken and held by Breal Asset Valuations Limited until satisfactory proof of export is received.
7.6. Until the Purchaser has complied with clause 7.2 above:
a) Title to any Lot/Goods bought shall not pass to the Purchaser.
b) The lot/Goods shall be at the Purchaser’s risk.
c) The Auctioneer shall have a lien over any Lot/Goods bought by the Purchaser sold on behalf of the Vendor.
d) If the Purchaser effects or purports to effect a resale of any other disposition of all or part of the Lot, the Purchase shall hold proceeds of resale or other disposition on trust for the Auctioneer and the Seller.
8. LIABILITY OF THE AGENTS/AUCTIONEERS AND VENDORS
8.1. Lots/Goods are sold with all faults and defects and with all errors of description and neither the Vendor nor the Agents/Auctioneers are responsible for any defects whatsoever. All implied conditions relating to description, fitness and quality are accordingly excluded;
8.2. Subject to clause 8.3 below, the Vendor and the Agents/Auctioneers do not make or give, nor has any person in the employment of the Agents/Auctioneers any authority to make or give, any express representation or warranty with regard to any lot/Goods except that the Vendor has the right to sell it.
8.3. Where a lot bears a specific catalogue description indicating quality (for example “good condition”) this description shall be taken to be made on the authority of the Vendor alone and in case of dispute about such express description the Purchaser agrees to follow the procedure specified in condition 17 below and to be bound by the result thereof.
8.4. The Vendor indemnifies the Agents/Auctioneers that he has the right to sell any lot/Goods offered for sale by the Agents/Auctioneers on behalf of the Vendor.
9. CATALOGUE DESCRIPTIONS
9.1. The Agents/Auctioneers undertake that care has been taken to see that the catalogue descriptions and advertisements are accurate and reliable, but these are necessarily statements of opinion and must not be relied upon as statements of fact. Subject to condition 18 below, neither the Vendor nor the Agents/Auctioneers are responsible for errors of description, the genuineness, attribution or authenticity of any lot/the Goods.
10. PROPERTY IN LOTS/GOODS AND RISK
10.1. The Purchaser shall not become the owner of any lot/Goods and the Agents/Auctioneers shall not have any lien thereon, until the lot has been paid for in full, but nevertheless each lot is at the sole risk of the Purchaser from the fall of the hammer or upon receiving notification of successful bids.
11. DEFAULT BY THE PURCHASER
11.1. If the Purchaser fails to pay for or remove any lots purchased by him, or in any way fails to comply with these Terms and Conditions of Sale, the Agents/Auctioneers shall have the right to:
a) Sell the lots/Goods by Public Auction or otherwise without notice to the Purchaser, and if any loss arises from such a resale after deducting the Agents/Auctioneers’ full costs and expenses, the Purchaser shall be responsible to the Agents/Auctioneers for that loss.
b) Where deposit is paid, to forfeit that deposit.
c) To charge interest on any unpaid balance at the rate of 4% above the base rate charged by the Royal Bank of Scotland from time to time.
d) To charge for storage arising after the time for removal at the current rate and to release the lots in question to the Purchaser only after payment in full of all storage and removal expenses incurred (as well as the full purchase price).
12.1. Title will not pass to the purchaser until the auctioneer as agent for the vendor has received payment in full.
13. AGENCY AND COMMISSIONS
13.1. The Agents/Auctioneers execute commissions received in writing up to one hour before the sale, on condition that the relevant lots have been viewed by the bidder. No responsibility is accepted relating to commissions given to staff other than the Commissions Clerk.
14. SAFETY OF MACHINERY AND VEHICLES
14.1. Purchasers are reminded that under current Health and Safety legislation affecting the safe use of machinery, the Agents/Auctioneers cannot guarantee that all lots/Goods sold necessarily comply with the relevant legislation. Accordingly, the Purchaser undertakes not to use any lot purchased until satisfied that it complies with the relevant Acts and Regulations relating to such machines and implements and to indemnify the Agents/Auctioneers against any failure to observe this undertaking;
a) In the case of the sale of vehicles, no vehicle is warranted or held out to be roadworthy and no lot is warranted or held out to be merchantable or safe for use or complying with statutory requirements for use, display or movement. The Agents/Auctioneers have no authority to make representations and all vehicles are sold as scrap.
b) All goods sold are sold as used and are not supplied as new unless the catalogue description clearly states the contrary.
15. REMOVAL OF GOODS
15.1. The Purchaser is responsible for removing all goods purchased and undertakes to do so safely and lawfully in accordance with Health and Safety legislation and regulations and having due regard for safe systems of work where the goods are to be removed from any site owned, occupied or operated by the Agents/Auctioneers.
15.2. The Purchaser is responsible to ensure any and all contractors, sub-contractors or employees are qualified and competent in the removal of any purchased items and will operate with due regard to risks inherent in the removal of any equipment. The Purchaser will be responsible for undertaking any assessment of risk, deemed appropriate in connection with the removal of any purchased goods and ensure that the suitable method statements are prepared addressing such risk. Moreover, such consideration will be required from any contractors or sub-contractors employed in the removal of any purchased goods.
16. REMOVAL OF FIXTURES
16.1. Where lots/Goods and sale items are of a fixed nature, the Purchaser is responsible for detaching such lot and undertakes to do so safely and lawfully in accordance with Health and Safety legislation and regulations, where necessary. The Purchaser will provide a method statement for removal, to the Agents/Auctioneers prior to removing any such fixtures.
16.2. The Purchaser undertakes to indemnify the Agents/Auctioneers and, where appropriate, the Vendor, against any cost, damage, legal or other expenses in respect of any claim arising from the detachment of the lot/Goods or its removal. If the Agents/Auctioneers so require, the Purchaser agrees to pay to the Agents/Auctioneers a sum to cover the likely damage caused by such removal in the amount so estimated by the Agents/Auctioneers.
17.1. In the case of a Purchaser causing damage not covered by conditions 14 & 15, the Agents/Auctioneers shall be entitled to exercise a lien in respect of any and all lots/Goods purchased by the Purchaser until such damage or loss has been paid for in full, whether or not the lots or any of them have been paid for in full, such loss and damage to be assessed by the Agents/Auctioneers whose decision shall be final. The Agents/Auctioneers’ assessed sum shall be paid by the Purchaser upon receipt of invoice and payment shall be made forthwith, time being of the essence.
18. INSOLVENCY AND DEATH
18.1. Where the Agents/Auctioneers conduct a sale on behalf of a Vendor who is an Administrative Receiver, an Administrator or a Liquidator of a limited company or Trustee in Bankruptcy of an individual:
a) The Vendors shall only act as an agent on behalf of the company or bankrupt (as the case may be) and shall be under no personal liability whatsoever in respect of the contract for sale of any lots/Goods;
b) The Vendor, and the Agents/Auctioneers on his behalf, sell whatever right, title or interest the company or the bankrupt may have in the lot/Goods;
c) In the event of any third party proving to have a superior title to right to custody or possession of any lot/the Goods, the Vendor may rescind the contract of sale and upon return of any deposit and/or purchase price to the Purchaser, neither the Vendor nor the Agents/Auctioneers shall be under any further liability to the Purchaser;
d) If before title to any lot has passed to the Purchaser, the Purchaser, being an individual, dies or enters into a composition or arrangement for the benefit of his creditors or has a Bankruptcy Order made against him, or being a body corporate, has a Receiver or a Receiver and Manager appointed or goes into administration, liquidation or enters into an arrangement for the benefit of its creditors, then in all such cases the contract for sale for such lot may be, at the Agents/Auctioneers’ discretion, rescinded without notice to the said Purchaser. Upon rescission, any deposit paid by the Purchaser shall be forfeited and the Agents/Auctioneers shall be entitled to exercise the rights set out in these conditions of sale on the basis of default by the Purchaser.
19. AGENTS/AUCTIONEERS’ RESPONSIBILITIES FOR THE CATALOGUE DESCRIPTIONS
19.1. Bidders and Purchasers shall be deemed to have accepted that warranties or guarantees appearing in the catalogue have been specifically authorised by the Vendors and the Agents/Auctioneers disclaim all personal liability arising there from.
19.2. Title will not pass to the purchaser until the auctioneer as agent for the vendor has received payment in full.
20. HEALTH AND SAFETY AT WORK ACT 1974 (HSWA)
20.1. Waivers (SHE-42 and 42a), Section 6 (8) of the Act – In certain instances it may be necessary for the Purchaser to give a written undertaking pursuant to Section 6 (8) of the Health and safety At Work Act 1974.
20.2. Asbestos / Hazardous Substances It is expressly brought to the purchasers attention that certain types of plant or main service installations could contain Asbestos, dangerous chemicals, etc. which if not handled correctly during their removal from the site could be in breach of the Health and Safety at Work Act 1974, the Control of Asbestos at Work Regulations 2002, the Asbestos (Licensing) Regulations as amended and the Control of Substances Hazardous to Health Regulations 1988 (COSHH) or any other current legislation covering the use of such substances in a working environment. All purchasers must comply with all current legislation and regulations, including the Water Industry Act 1994 (as amended) and the Environment Protection Act1990, as amended; in relation to the removal/disposal of waste/trade effluent including hazardous waste and may be required to satisfy Breal Asset Valuations Limited in relation to their disposal/removal procedures. Where waste materials are removed all work must be undertaken by an approved and licensed contractor.