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to charge interest at a rate not exceeding 1.5% per month on the total amount due to the extent it remains unpaid for more than 7 working days after the sale; f.to retain that or any other lot sold to the defaulting buyer until that buyer pays the total amount due; g.Bidders shall be deemed to act as principals unless there is in force a written acknowledgment by Wo Kb that a bidder is acting as an agent for a named principal. Value Added Tax is charged at the rate prevailing by law at the date of sale. Cheques must clear into the bank account of Wo Kb until the release of the items. The ownership of any lots purchased shall not pass to the relevant buyer until they have made payment in full to Wo Kb of the total amount due. Buyers shall at their own risk and expense take away any lots that they have purchased and (subject to 6b) paid for not later than 2 working days following the day of the auction after which they shall be responsible for any removal, storage and insurance charges. No purchase can be claimed or removed until it has been paid for (or the provisions of clause 6b satisfied). REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES If any lot is not paid for in full and taken away in accordance with these Conditions, or if there is any other breach of these Conditions, Wo Kb as agent for the seller shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise all or any of the following rights and remedies: a.Any permitted payment by credit card or foreign card shall carry an extra charge to the buyer of such percentage of the total amount due as is displayed on the premises. Any payments by a buyer to Wo Kb may be applied by Wo Kb towards any sums owing from that buyer to Wo Kb on any account whatever without regard to any directions of the buyer or his agent, whether express or implied. to proceed against the buyer for damages for breach of contract; b.Bank Transfer: If transferring from a foreign currency, the amount we receive must be the total amount due in pounds sterling (after currency conversion and the deduction of any bank charges).Sterling cash up to any amount (two forms of ID required). ' Wo Kb' means Watches of Knightsbridge Ltd Auctioneers, 64 Knightsbridge, London, SW1X 7JF. "auctioneer" means Watches of Knightsbridge or its authorised auctioneer, as appropriate; b.International shipping insured up to Â1000 per parcel will be made via Royal Mail International Signed For - charged at Â15.00.
Neither Wo Kb nor its employees or agents shall be responsible for any neglect or default in doing or failing to do so. The seller shall be entitled to place prior to the auction a reserve on any lot consigned, being the minimum hammer price at which that lot may be sold. Wo Kb act as agent for the seller and as such is not responsible for default by the seller or the buyer.
to rescind the sale of that lot and/or any other lots sold by Wo Kb to the defaulting buyer; c.
to re-sell the lot (by auction or private treaty) in which case the defaulting buyer shall be responsible for any resulting deficiency in the total amount due (after crediting any part payment and adding any resale costs).
Any surplus so arising shall belong to the seller; d.
to remove, store and insure the lot at the expense of the defaulting buyer and, in the case of storage, either at Wo Kb 's premises or elsewhere; e.