Buying with Rushbrooks
GENERAL INFORMATION
All bidding at Rushbrooks takes place on Auctionet.com, Europes largest online auction platform. For more information on how to sign up and bid on Auctionet.com, please click here.
Below you will find some of the terms used in the auction industry which will help to explain how it all works. If, however, you would like any further information or clarification then please contact us direct.
Online Bidding
We use the latest technology to ensure that you can bid in all of our sales from the comfort of your own home, or wherever you are in the world. Whether you are a UK-based or an international bidder.
Payment
Payment must be made prior to collection. Goods will only be released upon receipt of cleared funds. The simplest way to pay your invoice is by card payment on my pages. You can also pay by bank transfer.
Please note, we do not accept card or cash payments upon collection.
Lot Numbers
Each item to be auctioned carries a number to identify it.
Estimate
This is an approximate guide to the price that a lot is expected to realise.
Condition Reports
A general condition report is given at the end of each description. The condition reports are done by our specialists who can offer their opinion on the condition of the item and are only a guide.
If you would like further information regarding the lot please contact the office and a member of staff will be happy to help you.
All weights and measures given in the descriptions should be regarded as approximate.
The colours in the photographs online are not necessarily true to the item.
Remember that at auction it is up to you, the bidder, to satisfy yourself about the condition of an item. Please note, Rushbrooks are not entering into a contract with you in respect of the Condition Report and accordingly do not assume responsibility to you in respect of it, nor do we agree to owe you as a Bidder any obligation or duty in respect of this free report about a lot, which is available for your own inspection or for inspection by an expert instructed by you.
Viewing Days
All lots on-line are available to view by appointment. Contact a member of the team to learn more.
Hammer Price
This is the price that the lot is sold for at auction. In addition to this price, you will have to pay a buyer's premium. Certain lots may be subject to additional charges (such as Artist's Resale Right or, occasionally, VAT on the hammer price but this will be clearly indicated in the catalogue.
Buyer's Premium
Online Sales:
A premium of 25% (20.84% plus VAT) plus a lot fee of £5 (inc. VAT) will be charged on top of the hammer price on all lots in our Timed Online sales.
VAT is not applicable on books and unframed maps.
CUSTOMER DUE DILIGENCE CHECKS (CDD)
In order to comply with current Money Laundering Regulations is is our policy to conduct appropriate checks on any buyer who transact at the threshold of £8,000 or more. Buyers will be required to provide the following information:
Individuals: official photo identification (a government issued ID documents such as a passport or drivers licence)and proof of address (utility bill, bank statement or drivers licence)
Legal entities: a certificate of incorporation (or equivalent), a register of shareholders/directors and identification documentation from the directors and beneficial owners of the business
We reserve to right to with-hold the purchased lots until such checks have been completed
Collection & Transportation
The responsibility for the collection of purchases rests with the buyer. We also offer different transport solutions and can arrange shipment to countries all over the world using a variety of transport companies depending on size, value and end-destination.
EXPORTING YOUR PROPERTY FROM THE UK & VAT REFUNDS
VAT refund rules for artwork exported from the UK have changed from 1st January 2021. Due to the withdrawal of the Retail Export Scheme by HMRC we are unable to provide VAT refund documentation for hand-carried Exports.
The VAT charged on Buyer’s Premium may only be refunded under the following circumstances:
The minimum amount of VAT which will be refunded is £50, and in order to qualify for a refund the lots must be exported by a commercial shipper and valid export documentation must be provided within the specified time limits. Any transaction fees incurred will be deducted from the refund.
If you are exporting your property it is your responsibility to ensure that your shipment can be lawfully imported to the destination country and import tax, customer duties and other fees may apply at the country of destination.
ADDITIONAL CHARGES
Artist’s Resale Rights
Pictures and original prints by European artists are subject to a resale royalty if the hammer price exceeds 1000 Euros. This has now been extended to include living European artists and all European artists who have died since 1951.
The buyers of such lots agree to pay Lawrences this royalty and we shall forward it to the artists’ collecting agents. The rate varies as follows and is quoted in Euros:
1000-50,000 4%
50,000.01-200,000 3%
200,000.01-350,000 1%
350,000.01-500,000 0.5%
Exceeding 500,000 0.25%
ARR is capped at 12,500 Euros
Please note that it is calculated in Euros and the royalty still applies even though we have left the EU. The Euro rate of exchange will be based upon the European Central Bank rate on the day of sale as all invoices are issued in Pounds Sterling.