Certified Diamond Jewellery

1. Definitions 1)1. When used in these Conditions, the following terms highlighted in bold shall have the following meanings: Auction: a public or private sale in which Goods belonging to the Seller are sold to the highest Bidder by the Auctioneer; Auctioneer: Diamond Mining Group Ltd (10817693) or any other company within the Group (including their employees and agents and any person to whom conduct of the Auction is delegated under clause 5.11); Bid: an offer to purchase a Lot in accordance with these Conditions submitted by a Bidder: Bidder: a person bidding for a Lot; Buyer: a person who submits the highest Bid for a Lot that is accepted by the Auctioneer; Buyer’s Premium: The Buyer shall pay a Buyer’s Premium of 20% plus VAT, unless otherwise indicated; Goods: any item (or number of items) consigned to the Auctioneer by the Seller to be placed into a Lot for sale at an Auction; Group: any entity that is a ‘subsidiary’ or ‘holding’ company as defined by s.1159 Companies Act 2006; Lot: (a collection of) Goods listed (whether in a catalogue or otherwise) by the Auctioneer that are available to be purchased at an Auction; Overseas Purchaser: a Buyer whose residence is outside the UK; Seller: a person who has placed Goods with the Auctioneer for sale and who has the legal and beneficial title to the Goods listed in a Lot and/or any agent(s) authorised to act on their behalf. VAT: Value Added Tax at [the current rate] of the Lot price, unless otherwise indicated; 1)2. Any person who attends an Auction and/or submits a Bid at an Auction held or organised by the Auctioneer, whether by electronic means or otherwise, is deemed to have read and accepted these Conditions by reference to their attendance at the Auction or submission of a Bid. 1)3. To the extent that these Conditions are inconsistent with any special conditions set out or referred to in the Auction catalogue or announced at the Auction, the special conditions shall prevail. 1)4. References to a ‘person’ in these Conditions shall (where the context requires) include a natural person, corporate or unincorporated body (whether or not having a separate legal personality) and that person’s successors and permitted assigns. 2. The Seller’s Instructions and Warranties 2.1 The Seller warrants that: - (a) they have the full unencumbered legal title and express authority to sell the Goods that the Auctioneer has placed into in a Lot. (b) the description and content of the information listed by the Auctioneer (whether in a catalogue or otherwise) relating to any Goods is accurate and not deliberately or negligently misleading. c) Viewing is facilitated and encouraged, and the bidder should take actions to satisfy themselves through viewing and/or making the necessary additional enquiries that they are happy to place a bid with the information they have prior to bidding and not afterwards. Requests to view and/or make additional enquiries after the buyer has placed bids and/or the auction has closed will not be permitted prior to final settlement of the invoice. Lack of time or inability to travel to the location will not constitute reasonable grounds for defaulting on payment. If an enquiry is submitted and no answer is provided prior to the close of auction, then the auctioneer accepts no liability for any bids placed and the general rule of thumb for bidders should be followed at all times namely If you are unsure, do not bid. (d) subject to any contrary powers of the Auctioneer set out in these conditions, he will sell the Goods placed in a Lot for the price indicated in a Bid submitted by a Buyer providing that the conditions in clause 4.1 are satisfied; and (e) he will not contact any Buyers or potential buyers directly in relation to a sale of any Goods whilst they are listed in a Lot. 2.2 If the Seller’s instructions are given by the Seller’s agent, the Seller’s agent warrants that he has the Seller’s authority: - (a) to instruct the Auctioneer; (b) to give the warranties set out in clause 2.1 above; and (c) to instruct the Auctioneer to act in accordance with any special conditions. 3. The Auctioneer’s Remuneration 3.1. The Auctioneer’s remuneration shall be such as has been agreed between the Seller and the Auctioneer. 3.2 The Auctioneer may (in his discretion) deduct his remuneration from monies received from the Buyer before accounting to the Seller for the balance. 4. General rules governing bidding and buying 4.1 If a Bidder submits a Bid to purchase any Lot(s), they must complete the transaction with the Seller providing: (a) their Bid has been accepted as the highest value Bid for the Lot by the Seller; once the Auction for that Lot has closed; (b) the Auctioneer declares that Bidder to be the Buyer in accordance with clause 5.7 and (c) the value of their Bid is at least equal to or greater than any minimum reserve price for the Lot set by the Seller (if any). 4.2 Upon satisfaction of the conditions in clause 4.1 a Buyer can only terminate a contract to purchase the Lot if the Goods comprising the Lot do not materially comply with the information provided in the Auction catalogue in relation to them and any such issue should be raised with the vendor and auctioneer at the earliest possible opportunity and in any case within 10 days of receipt of the goods. 4.3 Unless the Auctioneer has previously acknowledged in writing that the Bidder bids as agent on behalf of a named principal, every Bidder shall be taken to bid on his own behalf as principal. 4.4 Placing a Bid entitles the Auctioneer and any Seller to rely on the Bid as a genuine offer to purchase the Goods contained in the Lot. 4.5 If the Auctioneer has earlier acknowledged in writing that the Bidder bids as agent on behalf of a named principal, the Bidder warrants that he has the authority of his principal to make each Bid he makes. 4.6 The Bidder has the right to view all Lots. If the Bidder wishes to view a Lot, the Bidder must contact the Auctioneer at ukoffice@diamondmininggroup.com The Bidder must give the Auctioneer a minimum of 24 hours’ notice to arrange a viewing of a Lot. Please note that the Auctioneer cannot guarantee any viewing of any Lot in the final 24 hours of the Auction. A refundable deposit may be requested at the Auctioneers discretion to facilitate viewing of lots. 4.7 Any request for information on a lot, must come via email, either through the lot enquiry form on each lot, or via email to - ukoffice@diamondmininggroup.com Potential bidders must register for an auction to receive information about a lot. 5. Conduct of the Auction 5.1 The Auctioneer offers each Lot as an agent of the Seller and not as principal unless otherwise indicated in the Auction catalogue. 5.2 Any Lot may be subject to a minimum reserve price set by the Seller unless otherwise indicated in the Auction catalogue. 5.3 The Seller or his representative or the Auctioneer on his behalf may Bid for any Lot unless otherwise indicated in the Auction catalogue. 5.4 The Auctioneer may at any time before the fall of the hammer withdraw or divide any Lot or combine any Lots. 5.5 With the previous written consent of the Seller, the Auctioneer may sell any Lot by private sale before or after the Auction. 5.6 A Bidder who submits the highest value Bid for any Lot before an Auction is closed may be declared as the Buyer by the Auctioneer. 5.7 If a Bidder submits a Bid within 10 minutes or less of the closure of any Auction, the Auctioneer reserves the right to automatically extend the time during which Bids can be submitted for a Lot by ten (10) minutes. 5.8 The Auctioneer may decide whether there is a dispute between Bidders, summarily determine the dispute or immediately again offer the Lot for sale, in each case without being required to give a reason. 5.9 The Auctioneer shall in every other respect decide how the Auction is to be conducted and without being required to give a reason. 5.10 The Auctioneer may in his sole discretion delegate to a person whom he believes to be competent to conduct the auction in accordance with these Conditions. 5.11 The Auctioneer reserves the right to reject any bids which the Auctioneer feels in its sole discretion does not reflect reasonable value. 5.12 The Auctioneer has a right to report suspicious activities to the relevant authorities, at any time. 5.13 The Auctioneer shall notify all successful Buyers via email by way of invoice or payment request. 6. VAT and subsequent refunds. 6.1 All Buyers intending to export a Lot will be charged an additional deposit equal to that of the VAT due on each Lot purchased. 6.2 In order to qualify for a refund, the Goods must be exported in accordance with relevant export regulations and valid written evidence of such compliance shall be sent by the Buyer to the vendor at their registered address and to the Auctioneer within 28 days of the date of collection to the following address on official company headed notepaper signed by the Buyer: Diamond Mining Group Ltd, 21 Bury Old Road, Manchester, M25 0EY. At no time does the auctioneer take ownership of any goods sold in auction and therefore accepts no liability for VAT refunds unless specifically agreed with all parties prior to the sale. The auctioneer seeks only to facilitate communication between buyer and seller in order to ensure all parties are treated fairly during the transaction. 6.3 Where satisfactory evidence is not provided, goods will be subject to UK VAT at the standard rate of export and the Buyer will forfeit any deposit they may have paid in accordance with this clause 10. 6.4 The Auctioneer is unable to refund the VAT on the Buyers’ Premium in any circumstances. 6.5 If the Buyer chooses to export their purchases using their own transport, then VAT will be levied and refunded upon satisfactory documentation supporting the removal of the Goods purchased assuming the terms of clause 10.2 are satisfied. 6.6 Notwithstanding any other clause in these Conditions the Auctioneer reserves the right to refuse: (a) to accept any Bid from a Bidder; or (b) to sell any Lot (in whole or in part) to a Buyer. 7. Data Protection 7.1 The Buyer acknowledges and agrees that (as provided in the Auctioneer’s Privacy Policy) The Auctioneer may collect, process and store personal data and feedback regarding the Buyer’s transactions with The Auctioneer and share this personal data with any Sellers who are entering a contract with the Buyer. This is on an ongoing basis to ensure the integrity and reputation of The Auctioneer and to allow The Auctioneer, Sellers and Buyers to complete the transaction. For further information on the data collected, processed and stored by The Auctioneer on Seller’s and Buyer’s, please refer to The Auctioneer’s Privacy Policy.