We: Pax Romana Auctions Ltd., a company registered in England with registered number 11450370 and with a registered office at 10-12 Mulberry Green, Old Harlow, Essex CM17 0ET Seller: the person offering the Lot for sale. Reserve Price: the minimum Hammer Price at which a Lot may be knocked down. Purchase Price: the total sum due for any Lot, including the Hammer Price, the Buyer’s Premium and any other costs payable in accordance with Clause 4.8. Net Proceeds: the Hammer Price less the Selling Commission and any charges or expenses levied at our discretion such as shipping, restoration, custom made stands, lab tests etc. Knocked Down Bid: The act of Pax Romana Auctions in bringing the Hammer down to complete the contract for the sale of the Lot to the Buyer submitting the highest bid. ![]() Hammer Price: the amount of the winning bid when knocked down by us to a Bidder. In these Terms of Sale, the following words have the following meanings:īid: a sum offered by a Bidder to purchase the Lot.īuyer: the person who the Lot is knocked down to.īuyer’s Premium: The percentage of the Hammer Price - 15 % + VAT.ĭate of Sale: the date on which we knock down the Lot. Any information given to Buyers should not be relied upon as advice. ![]() 1.1 All Auctions are carried out on the Website these are Terms to the exclusion of all other terms and conditions of business, including all terms and conditions otherwise implied by law, custom or previous course of dealing to the maximum extent permitted by law.ġ.2 We reserve the right to update these Terms from time to time at our discretion.ġ.3 We act in the interest of the Seller of Lots.
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