Any seller that wishes to monitor his/her items that are on auction must register by filling out the online Registration Form. Thus he/she will be able to keep track of the items during the auction.
1.2 Truthfulness of information provided by the user:
Information provided by the seller at registration, and such that is updated or modified by him at any time thereafter, must be truthful. The seller – an individual or a corporation - must register by his legal name, provide his current address, phone number, e-mail address, and valid credit card information or ID number (where and when applicable).
2. Binding commitment to conclude the transaction
2.1 Seller’s title to auctioned item
The seller of an item on the auction warrants that he is the rightful owner of said item and has title to it, or that he is in possession of power of attorney from its rightful owner to sell the said item. The seller also warrants that the good is free from any lien or encumbrance.
2.2 Transferring possession and title
The seller agrees to transfer title to the auctioned item (and possession of it if stored at his premises) to the buyer designated by Hammersite, once the following conditions have been met:
Hammersite sold the item to the highest bidder (the reserve price was reached or exceeded, when applicable)
Hammersite received full payment from buyer.
3. Consignment of items
3.1 Preliminary Item registration:
Preliminary consignment by email or by phone: The seller will send Hammersite a detailed description by email, preferably including photos, or contact Hammersite by phone.
Hammersite may decide, based on the information provided that the item is not suitable for the auction. In that case Hammersite will notify the seller by e-mail or by fax or phone that it cannot accept the item for auctioning.
3.2 Examination, evaluation and appraisal
In case Hammersite decides to proceed, the seller will be contacted by e-mail, phone or fax to set up a date for examining, evaluating, and eventually photographing the object.
Based on the expert examination and evaluation, Hammersite will advise the seller of the object’s estimated value, authenticity, and condition (please consult the Terms and Conditions on Hammersite’s warranties and liability with regard to such Information).
Hammersite may recommend to the seller to have the object restored, repaired, framed/reframed, etc. Hammersite will provide the seller with names and addresses of experts approved by Hammersite. The seller will carry the full costs of such restoration, repair, framing, etc.
If Hammersite accepts the item for the next relevant theme/category auction, the seller and Hammersite must agree on the minimum/reserve price to be set.
3.3 Delivering the item to Hammersite for the duration of the auction
The items accepted for sale will be shown to the public at this site and in Hammersite’s showrooms for the duration of the auction.
Items accepted for sale must thus be delivered to Hammersite’s premises (unless otherwise agreed upon between Hammersite and the seller) not later than two week before the beginning of the "preview" part of the auction.
Seller will assume responsibility for and costs of packing, shipping and insurance of items to be delivered to Hammersite for sale (unless otherwise agreed upon between Hammersite and the seller). Sellers will be provided with the names and addresses of reputable shipping contractors. In special cases, Hammersite will order such services on behalf of the seller, and at seller’s expense.
4. Retrieval of items
Unsold and returned items must be retrieved by the sellers within 10 working days from the closing of the auction (unless it is agreed upon between Hammersite and the seller to include the item in the next auction).
5. Payment of commission, fees and charges to Hammersite
5.1 Seller’s commission:
Hammersite charges a seller’s commission of the hammer price on all items sold, according to the percentage agreed upon between Hammersite and the seller.
VAT on the commission amount will be added. The commission amount + VAT (and other charges assumed by Hammersite on behalf of the seller, if any) will be deducted from the hammer price of the item sold.
5.2 Collecting payment from the buyer:
Hammersite is responsible for the collection of payments from buyers on behalf of the sellers, and for transferring them to sellers (net of commissions, fees and other deductions, if applicable). Payment to the seller will be made within 35 days from end of sale, unless Hammersite has not received payment from the buyer.
The item sold will be released to the buyer only after Hammersite had received full payment (including fees, charges, and taxes if applicable).
Lots accepted for consignment can be insured at the seller's request at a cost of 1.5% of the item's reserve price, providing the reserve price is higher than $2000. This amount will be charged regardless of whether or not the item is sold. In the case of damage to, or loss of, the lot, Hammersite will pay the seller the full amount received from the insurance company.
6. Refunds and reimbursement
The seller will sign a letter to the effect that he will reimburse Hammersite the full amount paid by the buyer within three years from the date of the sale if Hammersite decides to refund the buyer because of misrepresentation, and the buyer returned the item.
7. Guaranteeing a seller’s reserve price
Hammersite warrants that a seller-specified and Hammersite-approved reserve price will be the minimum price for which the item will be sold. If that reserve price has not been reached or exceeded the item will remain unsold.
The reserve price will remain undisclosed.
Despite the above written, Hammersite is permitted by its own discretion, to sell the items under the reserve price, in condition that the seller will receive the full amount of the reserve price of the item, minus the commission and VAT (where applicable).