Classic Car Auctions June 2018 Classic Car Sale - 2nd June 2018

76 CCA June 2018 Classic Car Sale classiccarauctions.co.uk registration number is retained and that a new number is allocated prior to the Motor Vehicle being sold at the Auction whether or not CCA volunteers its services to effect that, and no liability shall attach to CCA in respect to any act or omission as a result. 9. Bidding and Reserves 9.1 Admission to the Auction requires the purchase of a Catalogue which must be presented at the entrance to the Auction. CCA do not accept bids from any person who has not completed and submitted a registration form. Proof of identification will be required in the form of a passport or driver’s licence, together with a recent utility bill showing a bidder’s current address, before the registration process can be completed. 9.2 The Auctioneer will commence and advance the bidding at levels and in increments he considers appropriate and is entitled to place a bid or series of bids on behalf of the Seller, up to the Reserve on the Lot. 9.3 The Seller may place a Reserve on any Lot when he consigns it to the Auction, and once placed it may not be changed without the written consent of CCA. All Lots will be sold without Reserve unless a Reserve has been agreed by CCA in writing. 9.4 Where a Reserve has been agreed, only CCA at its absolute discretion may bid on behalf of the Seller. 9.5 If no Reserve has been placed on a Lot, CCA 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. 9.6 CCA may sell a Lot below the Reserve agreed with the Seller, provided that CCA accounts to the Seller for the same Sale Proceeds as the Seller would have received had the Lot been sold at that Reserve. 10. Commission and Expenses 10.1 CCA shall be entitled to deduct from the Hammer Price and retain an amount equal to 5% of the Hammer Price for vehicles and 15% for automobilia and lifestyle goods or such other sum agreed by CCA in writing (“Seller’s Commission”) plus VAT together with Expenses and any other sums due from the Seller to CCA. 10.1.1 The minimum amount that will be deducted from the hammer price for the sale of a motor vehicle is £350+VAT. 10.2 The Seller acknowledges CCA’s right to retain the Buyer’s Premium payable by the Buyer. 11. Insurance 11.1 Only on payment of the Purchase Price in cleared funds shall title in the Lot pass from the Seller to the Buyer. However, the risk in the Lot passes to the Buyer on the fall of the hammer. It is therefore, the responsibility of the Seller to insure the Lot before the hammer falls and the responsibility of the Buyer to insure the Lot after the hammer falls. 11.2 CCA 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 CCA, its employees or agents in the ordinary course of their duties to CCA and the Seller shall compensate CCA in full in respect of all other claims and proceedings brought against CCA in respect of any loss or damage to or destruction of the Lot. 11.3 CCA will not be liable for any injury, loss or damage caused by any Lot or by the Seller’s negligence of CCA, its employees or agents in the ordinary course of their duties to CCA. The Seller shall compensate CCA in full in respect of all claims and proceedings brought against CCA in respect of injury, loss or damage caused by any Lot or by the Seller’s negligence or breach of any obligation under the Terms. 12. Payment of Sale Proceeds 12.1 Subject to CCA’s right of retention under Clause 3.2 and other provisions of this Clause 12, CCA shall pay the Sale Proceeds to the Seller not later than 14 Working Days after the Auction provided that the Purchase Price has been received in full by CCA. Unless an alternative method of payment has been agreed by CCA in writing, payment shall be made by telegraphic transfer. In the event of an unsettled hire purchase, finance agreement or any other charge or lien affecting the Lot CCA reserves the right to settle the amount due of such charges not exceeding the Sale Proceeds and if the Sale Proceeds are less than the charges outstanding the Seller will be responsible for the settlement of the balance forthwith. 12.2 If the Purchase Price has not been received in full by CCA within the time specified in clause 12.1 CCA will pay the Sale Proceeds to the Seller within seven Working Days from when the Purchase Price is received in cleared funds from the Buyer. 12.3 In respect of road registered Motor Vehicles, CCA reserves the right not to remit the Sale Proceeds to the Seller unless the Seller has deposited with CCA the registration document of the Motor Vehicle, and any other documents relating to the Motor Vehicle in the Seller’s possession or control which he agreed with CCA to supply. 12.4 If the Buyer fails to pay the Purchase Price within 28 days of the Auction, CCA will notify the Seller who may instruct CCA as to the appropriate course of action. CCA may endeavour to assist the Seller but CCA shall be under no obligation to do so, and shall not be under any obligation to institute proceedings in its own name. 12.5 In the absence of any written instructions from the Seller to CCA within 7 days of CCA having notified the Seller under clause 12.4 CCA shall be entitled to take any of the actions set out in clause 19.: 12.6 Any monies recovered by and paid to CCA in consequences of CCA taking one or more of the steps referred to in clause 19 shall be applied to the payment of: 12.6.1 legal or other costs incurred by CCA in connection with such steps; 12.6.2 Expenses; 12.6.3 the Buyer’s Premium and the Seller’s Commission on the sale of the Lot; 12.6.4 any balance remaining shall be paid to CCA to the Seller (or, if appropriate, the Buyer). If there