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Buying at Mealy's
Information for Sellers
Vendors Conditions
INSTRUCTIONS
All goods delivered to Mealy’s will be deemed to be delivered for sale by auction unless otherwise stated and will be catalogued and sold at Mealy’s discretion, subject to all sale conditions below. By delivering goods to Mealy’s for inclusion at Auction, vendors acknowledge acceptance of these conditions and agreement to be bound by them and that he has good and unencumbered title to the goods.
Mealy’s, as Auctioneers, have sole discretion to determine the description of any lot in their catalogue, and the date and location of sale for any such lot.
COMMISSION & CHARGES
The vendor shall pay Mealy’s commission of 20% including V.A.T. on all lots sold. This will cover Sale Commission, Advertising, Cataloguing, Printing and Presentation for all catalogue sales. Some lots will be deemed fit for our Evening Clearance Sales in which case, the vendor commission will be charged at 25% including V.A.T.
PHOTOGRAPHY
Standard catalogue photographs and illustrations are charged to the vendor at a rate of €200 including V.A.T. for each colour, and €30 including V.A.T. for each black and white. Larger front and back cover catalogue illustrations etc., are charged at an agreed rate with Mealy’s. Mealy’s reserve the right to use such photographs and illustrations at any time (whether or not in connection with the Auction).
INSURANCE
The Vendor shall pay Mealy’s a contribution of 1% including V.A.T. of the hammer price towards the Insurance Cover of lots sold, unless otherwise instructed by the Vendor. Lots not covered so by the Auctioneers Insurance shall at all times be held by Mealy’s at the sole risk and responsibility of the Vendor, pending their sale.
COLLECTION
Mealy’s can arrange for the collection and delivery of goods from the vendor to our Auction Rooms, or any other auction venue, and reserve the right to charge the vendor for this service, which is arranged by agreement.
RESERVES
All lots are put up for sale without Reserve, unless written instructions are received by Mealy’s prior to the commencement of the sale. Mealy’s do not accept reserves on any lot under €200 in value.
Mealy’s may, at their discretion, sell at a ‘hammer price’ below the reserve but in any such case the sale proceeds to which the vendor is entitled, shall be the same as they would have been had the sale been at the reserve. Lots ‘bought in’ under an agreed reserve price, are subject to a charge of 10% including V.A.T. on the fixed reserve.
CHARGES FOR WITHDRAWN LOTS
Once catalogued, lots withdrawn from the sale before proofing / publication of Catalogue, will be subject to commission payable at 5% including V.A.T. of the Auctioneer’s middle estimate of the lot withdrawn, and any expenses incurred by the Auctioneer in relation to that lot. If Lots are withdrawn after proofing or publication of Catalogue, they will be subject to a commission of 10% including V.A.T. of the Auctioneer’s middle estimate of the lot withdrawn, and any expenses incurred by the Auctioneer in relation to that lot. All commissions and expenses hereunder must be paid for before the withdrawn lot or lots may be removed.
UNSOLD LOTS
Where any lot or lots fail to sell at auction, the Auctioneer shall notify the vendor accordingly and (in the absence of an agreement between the vendor and the Auctioneer to the contrary) such Lots may, at the absolute discretion of the Auctioneer, be re-entered in the next suitable auction unless instructions are received to the contrary. Otherwise such Lots must be collected at the vendor’s expense within a period of 30 days of such notification from the Auctioneer. Mealy’s reserve the right to adjust or reduce the reserve and estimated price of any previously unsold lot in order to facilitate it’s sale at a subsequent auction.
PAYMENT OF PROCEEDS OF SALE
The Auctioneer shall remit the Proceeds of Sale to the vendor not later than 30 working days after the date of the auction, provided the Auctioneer has received payment. If by that date however the Auctioneer has not received the total amount due from the purchaser, then the Auctioneer shall remit the Proceeds of Sale within 7 working days after the date on which the total amount due is received from the purchaser. If credit terms have been agreed between the Auctioneer and the purchaser the Auctioneer shall remit to the vendor the Proceeds of Sale not later than 30 working days after the date of the auction. In the event of the vendor receiving full payment, before or after the Auctioneers receive same, then full title to the lots shall pass to the Auctioneer.
UNSOLD LOTS AND LOTS FAILING TO REACH THE RESERVE PRICE
Lots entered for auction that fail to reach the agreed reserve may be re-offered for sale at a reserve not exceeding 50% of the initially agreed reserve. Otherwise, the item must be collected within 10 working days following the sale, and will incur a storage charge of €2 per day thereafter.