18 CONDITIONS OF SALE
19
CONDITIONS OF SALE
dispute between the Vendor and the bidder acting on their behalf, and the bidder will be responsible for payment of the Purchase Price. 2.2.7 If any Sale Price is shown on the Goffs website, or in other media publications, prior to the resolution of a bidding dispute, or a bidder not signing the Acknowledgement of Purchase form, as in Conditions 2.2.3 to 2.2.5, or if a Lot is sold to a bidder who has made no payment arrangements as per Condition 3.8, Goffs reserve the right to amend the Sale Price following resolution of such. V endors of Lots are subject to entry fees and commission as outlined in 2.1 All Lots are subject to a reserve price which shall either be the minimum selling price set by Goffs or any higher reserve price which Goffs must have received in writing from the Owner, the Vendor or their agent prior to the Lot being offered for sale. Where no instruction is received in writing from the Owner, the Vendor or their agent, the Lot will be offered without reserve. 3.2 E ach Vendor undertakes that a Lot entered in the Catalogue shall not be sold before the Sale. 3.3 G offs will endeavour to have 3. Vendors 3.1
up again for auction and resold, subject to the reserve price in accordance with 3.1 below. Acknowledgement of Purchase form or claim to be the Purchaser of the same Lot, that Lot may be put up again for auction between those two bidders only, with the bid in the ring being allocated to one bidder at the discretion of Goffs. If one bidder does not make themselves available for a new auction within ten minutes of being requested to do so, Goffs reserve the right to complete the sale to the other bidder. Lot has been knocked down by the Auctioneer not sign the Acknowledgement of Purchase form, Goffs shall not be liable for the sale of that horse. At Goffs’ discretion the Lot may be put up again for auction and resold, subject to the reserve price in accordance with 3.1 below. If it is not possible or practical to offer the Lot on the same day, Goffs will reoffer the Lot at its next available Sale in Ireland or the United Kingdom. The horse will remain at the risk of the Vendor until such Sale is concluded and Goffs shall not be liable for any payment to the Vendor with respect to the sale being cancelled. 2.2.6 A ny bidder acting on behalf of a Vendor will be deemed to be the Purchaser in the case of any 2.2.4 S hould two bidders sign an 2.2.5 S hould a bidder to whom a
2.1.7 W hen a Lot is unsold, the Vendor will pay Goffs 2.5% of the reserve price if the reserve exceeds £15,000. 2.1.8 A withdrawal fee of £750 is payable by the Vendor to Goffs for any Lot which is catalogued and withdrawn prior to the sale unless notification of withdrawal is accompanied by a veterinary certificate to the satisfaction of Goffs. 2.1.9 A ll fees and commissions are subject to VAT at the appropriate rate. 2.2 BIDDING 2.2.1 T he auction shall be conducted in £ Sterling. Subject to the discretion of the auctioneer, no bid shall advance less than £200 up to £2,000; £500 up to £20,000; £1,000 up to £50,000; £2,000 up to £100,000; £5,000 up to £500,000; £10,000 up to £1,000,000; £20,000 thereafter. 2.2.2 W hen applicable, online bidders will be offered bid amounts that reflect those most commonly used in a live sale, which will generally, but not exclusively, be subject to the same minimum advances outlined in 2.2.1 above between two or more bidders, or between Goffs and any bidder, Goffs decision shall be binding on all parties. At Goffs’ discretion the Lot in dispute may be put 2.2.3 S hould any dispute arise
given to them by sections 1159 of the Companies Act 2006.
2. The Sale 2.1
COMMISSION AND FEES 2.1.1 A n entry fee is payable to Goffs by the Vendor for each Lot entered and catalogued. The fee is non-refundable upon publication of the catalogue and will be subject to a 5% levy to fund the BHA/TBA Inward Buyers Initiative. 2.1.2 T he Vendor will pay commission to Goffs equal to 1.5% of the Sale Price of each Lot, (subject to a minimum of £100). commission to Goffs equal to 6% of the Purchase Price. 2.1.4 G offs reserve the right to charge full commission of 7.5% from the Vendor in respect of any cancelled sale. 2.1.5 G offs reserve the right to charge full commission of 7.5% from the Vendor in respect of any Lot sold between the date of publication of the Catalogue and 28 days following the last day of the sale. 2.1.6 W hen a Lot is bought in 100% by 2.1.3 T he Purchaser will pay
the Vendor 7.5% of the price of that Lot is payable by the Vendor unless Goffs are notified by the conclusion of the sales session in which the Lot was offered and the Lot is published as a “Vendor” sale, in which case 2.5% of the Price is payable by the Vendor to Goffs (subject to a minimum commission of £100).
all Catalogue information correctly stated, but the
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