TERMS & CONDITIONS
Watches of Knightsbridge Auctioneers conducts business with bidders, buyers, sellers and consignors and all those present in the auction room prior to or in connection with a sale on the following General Conditions and on such other terms, conditions and notices as may be set out or referred to herein.
In these Conditions :
a. “WoKb” means Watches of Knightsbridge Ltd, 27 Knightsbridge, London, SW1X 7LY.
b. "auctioneer" means Watches of Knightsbridge or its authorised auctioneer, as appropriate;
c. "deliberate forgery" means an imitation made with the intention of deceiving as to authorship, origin, date, age, period, culture or source but which is unequivocally described in the catalogue as being the work of a particular creator and which at the date of the sale had a value materially less than it would have had if it had been in accordance with the description;
d. "hammer price" means the level of bidding reached (at or above any reserve) when the auctioneer brings down the hammer;
e. "terms of consignment" means the stipulated terms and rates of commission on which Watches of Knightsbridge accepts instructions from sellers or their agents
f. "total amount due" means the hammer price in respect of the lot sold together with any premium, Value Added Tax chargeable and any additional charges payable by a defaulting purchaser under these Conditions;
g. "sale proceeds" means the net amount due to the seller, being the hammer price of the lot sold less commission at the stated rate, Value Added Tax chargeable and any other amounts due to Watches of Knightsbridge by the seller in whatever capacity and however arising;
h. "stated rate" means Watches of Knightsbridge’s published rates of commission for the time being and Value Added Tax thereon.
PART I - CONDITIONS MAINLY AFFECTING BIDDERS AND BUYERS
2. THE BUYER
a. Bidders are required to register their particulars and satisfy WoKb’s security arrangements before entering the auction room to view or bid. The highest such bidder shall be the buyer at the hammer price and any dispute about a bid shall be settled at the auctioneer's absolute discretion. Bidders shall be deemed to act as principals unless there is in force a written acknowledgment by WoKb that a bidder is acting as an agent for a named principal. Once made, no bid may be withdrawn.
b. The right of WoKb to bid on behalf of the seller is expressly reserved.
3. MINIMUM INCREMENT
The auctioneer shall have the right to refuse any bid which does not exceed the previous bid by at least 10% or by such greater proportion as the auctioneer shall in his absolute discretion direct.
4. THE PURCHASE PRICE
a. The buyer shall pay the hammer price together with a premium thereon of 20% plus VAT (or such other amount as shall be published by WoKb), the said premium not being negotiable and payable by ALL buyers. The seller authorises WoKb to retain beneficially the premium payable by buyers.
b. Lots purchased online through invaluable.co.uk and liveauctioneers.com will attract an additional charge for this service in the sum of 6% of the hammer price including VAT.
c. There will be no additional charge for lots purchased online through watchesofknightsbridge.com or thesaleroom.com.
5. VALUE ADDED TAX
Value Added Tax on the hammer price is imposed on all items affixed with an asterisk thus - *. Value Added Tax is charged at the rate prevailing by law at the date of sale.
a. Immediately a lot is sold buyers shall:
(1) give to WoKb their names and addresses and, if requested proof of identity, and
(2) pay to WoKb the total amount due.
b. WoKb may, at its absolute discretion, agree credit terms with the buyer before an auction under which the buyer will be entitled to take possession of lots up to an agreed value in advance of payment by a stipulated future date of the total amount due. Cheques must clear into the bank account of WoKb until the release of the items. 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. If transferring from a foreign currency, WoKb must receive the total amount due in pounds sterling after currency conversion and the deduction of any bank charges.
c. Any payments by a buyer to WoKb may be applied by WoKb towards any sums owing from that buyer to WoKb on any account whatever without regard to any directions of the buyer or his agent, whether express or implied.
7. TITLE AND COLLECTION OF PURCHASES
a. The ownership of any lots purchased shall not pass to the relevant buyer until they have made payment in full to WoKb of the total amount due.
b. Buyers shall at their own risk and expense take away any lots that they have purchased.
c. No purchase can be claimed or removed until it has been paid for (or the provisions of clause 6b satisfied).
d. Postage and shipping charges will be added onto invoices unless WoKb are otherwise informed.
8. REMEDIES FOR NON-PAYMENT OR FAILURE TO COLLECT PURCHASES
21 days after an auction if any lot has not been paid for in full and taken away in accordance with these Conditions, or if there is any other breach of these Conditions, WoKb 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. to proceed against the buyer for damages for breach of contract;
b. to rescind the sale of that lot and/or any other lots sold by WoKb 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 WoKb ‘s premises or elsewhere;
e. 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. to reject or ignore bids from the defaulting buyer at future auctions or to impose conditions before any such bids shall be accepted;
h. to apply any proceeds of sale of other lots due or in future becoming due to the defaulting buyer towards the settlement of the total amount due and to exercise a lien on any of the buyer's property in WoKb’s possession for any purpose.
i. charge the hammer price plus buyers premium and internet charges to the card registered on the-saleroom.com or details given to WoKb.
9. THIRD PARTY LIABILITY
All members of the public on the Auctioneer's premises are there at their own risk and must note the lay-out of the accommodation and security arrangements. Accordingly WoKb shall incur no liability for death or personal injury (except as required by law) or for the safety of the property of persons visiting prior to or at a sale.
10. COMMISSION BIDS
Whilst prospective buyers are strongly advised to attend the auction and are always responsible for any decision to bid for a particular lot and shall be assumed to have carefully inspected and satisfied themselves as to its condition, WoKb will if so instructed clearly and in writing execute bids on their behalf. Neither WoKb nor its employees or agents shall be responsible for any neglect or default in doing or failing to do so. Where two or more commission bids at the same level are recorded WoKb reserves the right in its absolute discretion to prefer the first bid so made.
PART II - CONDITIONS MAINLY AFFECTING SELLERS
11. WARRANTY OF TITLE AND AVAILABILITY
The seller warrants to WoKb and the buyer that the seller is the true owner of the property consigned or is properly authorised by the true owner to consign it for sale and is able to transfer good and marketable title to the property free from any third party claims.
a. 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. Reserves must be reasonable and WoKb may decline to offer goods which in WoKb’s opinion would be subject to an unreasonably high reserve (in which case goods carry the storage and insurance charges stipulated in the terms of consignment).
b. A reserve once set cannot be changed except with WoKb’s consent.
c. Where a reserve has been placed only WoKb may bid on behalf of the seller.
13. AUTHORITY TO DEDUCT COMMISSION AND EXPENSES AND RETAIN PREMIUM
a. The seller authorises WoKb to deduct commission at the stated rate and all expenses incurred for the buyer's account from the hammer price and acknowledges Watches of WoKb right to retain beneficially the premium paid by the buyer in accordance with these Conditions.
b. The seller authorises WoKb in their discretion to negotiate a sale by private treaty in the case of lots unsold at auction, in which case the same charges will be payable as if such lots had been sold at auction.
WoKb do not themselves undertake the collection of goods but may, as the seller's agent, instruct a contractor. WoKb accepts no liability for the actions of such contractor who contracts with the seller direct.
a. WoKb holds all goods on their premises and in their custody covered against the risks of fire, burglary and water damage.
b. The amount reimbursed to the seller will be the sum of the lower estimate of any lot’s stated on the consignment form minus the agreed seller's commission.
WoKb acts as agent only and disclaims any liability for default by the buyer or for paying out the seller before receiving payment by the buyer.
17. UNSOLD ITEMS
Unsold items will not incur a fee but may be liable to postage costs if necessary.
18. WITHDRAWAL OF PROPERTY
a. If the seller withdraws any property from the sale after their written agreement to sell it, WoKb may charge the seller 50% of the lower estimate.
b. WoKb may withdraw any property from the sale without liability if WoKb reasonably believes that the authenticity or attribution is questionable.
PART III GENERAL CONDITIONS
19. WoKb act as agent for the seller and as such is not responsible for default by the seller or the buyer. The seller acknowledges that lots are sold subject to the stipulations of these Conditions in their entirety and on the terms of consignment as notified to consignors at the time of the entry of the lot.
20. Subject to the next following Condition concerning deliberate forgeries, any representation or statement by WoKb in any catalogue as to originality, genuineness, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only. Prospective buyers are given ample opportunities to view and inspect before any sale and prospective buyers must satisfy themselves as to all such matters. Neither WoKb or its employees or agents nor the seller accept liability for the correctness of such opinions and all conditions and warranties, express, implied or statutory are hereby excluded. WoKb are not liable for the authenticity of watch parts if no representation or statement to the originality is made in the description or condition report.
21. Any lot (complete watch) which proves to be a deliberate forgery (as defined) may be returned to WoKb by the buyer within 21 days of the auction provided it is in the same condition as when bought, and is accompanied by particulars identifying it from the relevant catalogue description and a written statement of defects. If WoKb is satisfied from the evidence presented that the lot (complete watch) is a deliberate forgery WoKb shall refund the money paid by the buyer for the lot (but not the amount of any consequential loss, damages, expenses or interest). Any lot which proves to be a deliberate forgery after this 21 day period cannot be refunded as (1) this was the opinion made by the expert(s) using the information and resources accessible at the time of the sale (2) timepieces are classified as a wasting assest (machinery) and will therefore depreciate over time mechanically & in value since the time of the sale.
22. WoKb shall have the right, at its discretion, to refuse admission to its premises or attendance at its auctions by any person.
23. Any indemnity under these Conditions shall extend to all actions, costs, expenses, claims and demands whatsoever suffered or incurred by the person entitled to the benefit of it and WoKb declares itself to be a trustee of the benefit of every such indemnity so far as it is expressed to be for the benefit of its employees and agents.
24. Any notice to any buyer, seller, bidder or viewer may be given by first class mail in which case it shall be deemed to have been received by the addressee 48 hours after posting.
25. Special terms may be used in catalogue descriptions in which case they must be interpreted in accordance with any glossary appearing at the commencement of the catalogue.
26. Any indulgence extended to buyers or sellers by WoKb notwithstanding the strict terms of these Conditions or the terms of consignment shall affect the position at the relevant time only and in respect of that particular concession only; in all other respects these Conditions shall be construed as having full force and effect.
27. Data Protection - WoKb will use information supplied by Buyers and Sellers or otherwise obtained lawfully by WoKb for the provision of auction related services, client administration, marketing and as otherwise required by law. By agreeing to these Conditions of Business, the Buyer or Seller agrees to the processing of their personal information and to the disclosure of such information to third parties world-wide for the purposes outlined above.
28. Companies of common control owned by directors or employees of WoKb can act as vendors consigning lots to auction.
29. WoKb must be informed if anyone with disabilities wishes to attend the auction or viewing days so that the required arrangements can be made.
30. English law applies to the interpretation of these Conditions.
If you have any questions about this Policy or concerning your personal information, please contact firstname.lastname@example.org or by post.
Watches of Knightsbridge LTD (company number: 07636851), Registered Office in England & Wales: 64 Knightsbridge, London, SW1X 7JF is the primary Data Controller for the purposes of EU Data Protection Legislation.
The type and amount of information we collect depends on why you are providing it.
We may collect, use, store and transfer different kinds of personal data about you which we have grouped together as follows:
- Identity Data includes first name, last name, date of birth, title, passport copy, ID card, driver’s license.
- Contact Data includes billing address, delivery address, email address and telephone numbers, as well as details of any additional persons for whom copy correspondence is required.
- Correspondence Data includes details of your correspondence with us (including bidding instructions recorded online or over the telephone, and any complaints you have made to our customer services team).
- Image data including photographs and video images (from CCTV footage).
- Financial Data includes bank account, payment card details.
- Transaction Data includes details of products and transactions, payments to and from you and other details of products and services you have purchased from us.
- Credit History Data details relating to a customer's credit history.
- Technical Data includes internet protocol (IP) address, your login data, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform and other technology on the devices you use to access this website.
- Profile Data includes [your username and password, purchases or orders made by you, your interests, preferences, feedback and survey responses].
- Usage Data includes information about how you use our website, products and services (including the data obtained from cookies, web logs and other similar technologies that monitor the use of the Site).
- Marketing and Communications Preferences Data includes your preferences in receiving marketing from us.
We may collect information from you whenever you contact us or have any involvement with us for example when you:
- visit the Site
- enquire about our activities or services
- sign up to receive news about our activities
- create or update a profile to bid in an auction
- agree to sell your property through our auction or ask us to perform a valuation
- post content onto our Site or social media sites
- attend a meeting with us and provide us with information
- take part in our events
- contact us in any way including online, email, phone, SMS, social media or post
We collect information:
(1) when you bid at an auction via telephone, call our Customer Services, visit our premises or the Site.
(2) when you attend our premises. We use CCTV at our auction house and offices to protect our staff, our visitors and the property that we sell. We video our auctions for security reasons and so that we may observe and retain a record of bidding practices.
(3) from you when you give it to us directly: you may provide your details when you ask us for information, attend our events, consign property, register for auctions, place bids or contact us for any other reason. Your information may be collected by an organisation we are working with, but we are still responsible for your information.
(5) when you have given other organisations permission to share it: your information may be provided to us by other organisations if you have given them your permission. This might for example be a business working with us or when you buy a product or service from a third-party organisation. The information we receive from other organisations depends on your settings or the optional responses you have given them.
(7) When it is available on social media: depending on your settings or the privacy policies applying for social media and messaging services you use, like Facebook, Instagram or Twitter, you might give us permission to access information from those accounts or services.
We will use your personal information in several ways which reflect the legal basis applying to processing of your data. These may include:
- providing you with the information or services you have asked for
- sending you communications with your consent that may be of interest, including marketing information about our services and activities
- when necessary, for carrying out your obligations under any contract between us
- seeking your views on the services or activities we carry on, so that we can make improvements
- maintaining our organisational records and ensuring we know how you prefer to be contacted
- analysing the operation of the Site and analysing your website behaviour to improve the Site and its usefulness
We have set out below, a description of all the ways we plan to use your personal data, and which of the legal bases we rely on to do so. We have also identified what our legitimate interests are where appropriate.
Note that we may process your personal data for more than one lawful ground depending on the specific purpose for which we are using your data. Please contact us if you need details about the specific legal ground we are relying on to process your personal data where more than one ground has been set out in the table below.
Please note that the following list is not exhaustive
Type of data
Lawful basis for processing including legitimate interest
To register you as a new customer
Performance of a contract with you
To provide you with requested services, such as:
(a) bidding on auction items
(b) selling your items at our auctions
(h) catalogue subscription,
(b) Marketing and Communications Preferences
Necessary for performance of a contract
Necessary for our Legitimate Interests
To process and deliver the items you have successfully bid on:,
(a) Manage payments, fees and charges
(b) Collect and recover money owed to us
(e) Marketing and Communications Preferences
(a) Performance of a contract with you
(b) Necessary for our legitimate interests (to recover debts due to us)
To manage our relationship with you, which will include:
(b) Asking you to leave a review
(d) Marketing and Communications
|[(a) Performance of a contract with you |
(b) Necessary to comply with a legal obligation
(c) Necessary for our legitimate interests (to keep our records updated and to study how customers use our products/services)
To evidence our compliance with legal requirements, (for example, prevention of money-laundering, payment of taxation and customs duties, conducting customer identification for purposes of knowing our customers, and our obligation to make reasonable adjustments to accommodate a disability)
(d) Credit History
Compliance with a legal obligation.
Use of CCTV on to keep our staff, premises, you and property on our premises secure
(a) Image data
Necessary for our legitimate interests (for security reasons to protect our staff, our visitors and the property that we sell)
To administer and protect our business and this website (including troubleshooting, data analysis, testing, system maintenance, support, reporting and hosting of data)
(a) Necessary for our legitimate interests (for running our business, provision of administration and IT services, network security, to prevent fraud and in the context of a business reorganisation or group restructuring exercise)
(b) Necessary to comply with a legal obligation
To deliver relevant website content and advertisements to you and measure or understand the effectiveness of the advertising we serve to you
(e) Marketing and Communications
Necessary for our legitimate interests (to study how customers use our products/services, to develop them, to grow our business and to inform our marketing strategy)
To use data analytics to improve our website, products/services, marketing, customer relationships and experiences
Necessary for our legitimate interests (to define types of customers for our products and services, to keep our website updated and relevant, to develop our business and to inform our marketing strategy)
To make suggestions and recommendations to you about goods or services that may be of interest to you and send you details about future auctions and other events
(d) Usage (e) Profile (f) Transaction
(a) Necessary for our legitimate interests – for customers who have previously requested or received services from us - (to develop our products/services and grow our business)
(b) Consent (for customers who have not requested or received services yet, but who have subscribed to receive information or marketing from us at an event, online or by talking to one of our members of staff.
To monitor your use of our services, provide staff training and improve your experience
Where Data can be aggregated (and anonymised), we may use this for research purposes without restriction.
For example, we may monitor customer traffic patterns, website and Services usage and related information to optimise users' usage of the website and Services and we may give aggregated statistics to a reputable third-party.
We are entitled to do this because the resulting data will not personal identify you and will therefore no longer constitute personal data for the purposes of data protection laws.
We recognise and take seriously our responsibility to protect the personal data you entrust to Watches of Knightsbridge from loss or misuse.
Watches of Knightsbridge uses a variety of security technologies and organisational procedures to help protect your personal data. For example, we implement access controls, use firewalls and secure servers.
No data transmission over the internet can be guaranteed to be completely secure. So, whilst we strive to safeguard your information, we cannot guarantee the security of any information you provide online and you do this at your own risk.
We understand the importance of keeping your personal information secure and take appropriate technical and physical steps to safeguard it.
Cookies may be either "persistent" cookies or "session" cookies. A persistent cookie consists of a text file sent by a web server to a web browser, which will be stored by the browser and will remain valid until its set expiry date (unless deleted by the user before the expiry date). A session cookie, on the other hand, will expire at the end of the user session, when the web browser is closed.
The law states that we can store cookies on your machine if they are essential to the operation of the Site, but that for all others we need your permission to do so.
- Where it is necessary to enable us to provide you with the services you have requested, we will transfer your personal data to third parties (for example: we may transfer your data to our bank, payment card system operators, shippers, warehouses, insurers, experts who help us authenticate or value property, event venues, caterers, catalogue and direct marketing fulfilment and distribution). These organisations will only use the information to carry out the instructed services and on the basis, that the information is confidential and secure. Some of these organisations may be located outside the EEA (please see below).
- We do not transfer your personal data to third parties who wish to use it for their own marketing or other purposes.
- We may need to carry out anti-money laundering and trade sanction checks and for us to do so we may need to retain and disclose certain information about you to appropriate agencies. This is also to assist with fraud, crime prevention and detection.
- We will only disclose your personal data when we receive a request from a government or law enforcement authority to provide your data in two situations: when we are ordered to do so by a court; or after we have undertaken an internal review and conclude that the institution making the request has both complied with the correct procedure and has the right to seek disclosure.
- Third parties who provide services for us. We select our third-party service providers with care. We provide these third parties with only the information that is necessary to provide the service and we will have an agreement in place that requires them to operate with the same care over data protection as we do
- Third parties if we run an event in conjunction with them. We will let you know how your data is used when you register for any such event
- Analytics and search engine providers that help us to improve the Site and its use.
- Third parties in connection with restructuring or reorganisation of our operations, for example if we merge with another business. In such event, we will take steps to ensure your privacy rights will be protected by the third party
Owing to matters such as financial or technical considerations, the information you provide to us may be transferred to countries outside the European Economic Area (EEA), which are not subject to the same data protection regulations as apply in the UK. We meet our obligations under GDPR by ensuring that the information has equivalent protection as if it were being held within the EEA. We do this by ensuring that any third parties processing your data outside the EEA either benefits from an adequacy determination for GDPR purposes and/or, where appropriate, we have entered into a data processing agreement which contains model EU clauses.
We may also disclose your personal information if we are required to do so under any legal obligation and may use external data for the purposes of fraud prevention and credit risk reduction, or where doing so would not infringe your rights, but is necessary and in the public interest.
Other than this, we will not share your information with other organisations without your consent.
Please would you let us know if your contact details change. You can do so by contacting us at email@example.com
You have the right to request details of the processing activities that we carry out with your personal information through making a subject access request. Such requests must be made in writing. If the request is 'manifestly unfounded or excessive', or, further copies are requested, the data controller may charge a reasonable administration fee. To make a request, please contact us at firstname.lastname@example.org.
You also have the following rights:
• the right to access
• the right to request rectification of information that is inaccurate or out of date;
• the right to erasure of your information (known as the "right to be forgotten");
• the right to restrict the way in which we are dealing with and using your information; and
• the right to request that your information be provided to you in a format that is secure and suitable for re-use (known as the "right to portability");
• rights in relation to automated decision making and profiling including profiling for marketing purposes.
If you are not happy with the way in which we have processed or dealt with your information, you can complain to the Information Commissioner's Office.