Privacy Policy
By registering for this auction, you consent to us contacting you regarding your bidding activity and about important updates regarding the running of the auction. We will not pass your information on to any third parties. You can view our privacy policy at propstore.com/privacy-policy/
Buyer’s Guide
1. Introduction
This Buyers’ Guide contains a brief overview of Prop Store’s auction process and the terms under which Lots are made available for sale at auction. A more detailed statement of our Terms and Conditions of Sale follows after this Buyer’s Guide. Please read the Buyer’s Guide and the Terms and Conditions of Sale carefully. By registering to bid and participate in a Prop Store auction, you will be deemed to have agreed to be bound by them.
2. Definitions
2.1 When the following words are used in this Buyers’ Guide, they mean:
Auction A live sale by auction hosted by Prop Store
Bidder Any person, properly registered and approved by Prop Store to participate in the Auction who makes or considers making a bid to buy a Lot at Auction
Buyer The person or organisation making the highest bid or offer for a Lot accepted by the auctioneer, including a principal bidding as agent
Buyer’s Premium A commission of 25% (or £30, whichever is higher) plus VAT if applicable) of the Hammer Price for a Lot, payable by the Buyer to Prop Store
Buyer’s ExpensesA fee of 5% of the Hammer Price charged to the Buyer for a Lot won on any bidding platform other than propstoreauction.com
Conditions of Sale Prop Store’s terms and conditions of sale at auction, from time to time as may be amended, a copy of which appears in the Buyer’s Guide
Guarantee of Attribution Prop Store’s limited guarantee relating to the provenance of each Lot, given to the extent set out in Condition 10 of the Terms and Conditions of Sale
Hammer Price The highest bid for a Lot accepted by the auctioneer at the Auction or the post-Auction sale price of that Lot
Lot Each item or group of items consigned by the Seller to Prop Store to be made available for sale at an Auction, as detailed in the catalogue
Prop Store Prop Store Limited (company number 08622002) of Great House Farm, Chenies, Rickmansworth, WD3 6EP
Purchase Price The Hammer Price plus Buyer’s Premium (plus VAT if applicable)
Reserve Price (Where applicable) the minimum price at which the Seller has authorised Prop Store to sell a Lot
Seller The person or organisation offering the Lot for sale, including their agents or personal representatives
3. Before the Auction
3.1. Bidder Registration
3.1.1. Every person or organisation wishing to make a bid is required to register with Prop Store before participating at an Auction.
3.1.2. To register, the registration form (available in this Buyer’s Guide or online at propstore.com) must be completed in full and Prop Store provided with valid Visa, MasterCard or American Express credit card details to be held on file; and
3.1.2.1. at least one (1) form of ID is required which must include one (1) government-issued photo identification. If this does not state your current address, proof of address will also be required.
3.1.2.2. an organisation must provide a certified copy or original certificate of incorporation, or, in the case of unregistered entities, other evidence satisfactory to Prop Store – contact Prop Store on +44 (0)1494 766485 for confirmation of what will be acceptable;
3.1.2.3. a person registering as an agent to bid on behalf of a third party must bring the appropriate identification documents as set out above for themselves and for the third party on whose behalf they are authorised to make a bid and provide to Prop Store a signed authorisation from the third party confirming their authority to participate at the Auction on that third party’s behalf.
3.2. Pre-Auction Viewing
3.2.1. During the Pre-Auction Viewing period, as set forth in the Auction catalogue, any Bidder may preview Lots free of charge by appointment with Prop Store.
3.3. Delivery Costs
3.3.1. Without any liability, Prop Store can provide shipping estimates before the Auction; a Bidder requiring this information should email shipping@propstore.com including the Lot number and shipping address at least 3 working days before the start of the Auction.
3.4 Bidders outside the U.K.
3.4.1 If the Bidder is based outside the United Kingdom, the Bidder should ensure in advance of the Auction that the Lot can be exported from the U.K. and imported into the country of destination. No sale will be cancelled because the Lot may not be imported into the country of destination.
3.4.2 Prop Store’s recommended third-party independent freight agent, Precision Cargo, can advise Bidders on relevant export licensing regulations and may submit export licence applications upon request. Neither Prop Store nor its freight agents can guarantee that any licences, permits or consents will be granted.
4. At the Auction
4.1. Estimates
4.1.1. Estimates represent Prop Store’s guide to Bidders and do not give any indication or representation of actual values or likely bids. Estimates do not include any Buyer’s Premium or VAT.
4.1.2. Prop Store reserves the right to amend its estimates from time to time
4.2. Reserve Price
4.2.1. The Reserve Price is the minimum price the Seller will accept for a Lot. The Reserve Price will not be more than the lowest estimate given by Prop Store. Prop Store may disclose or keep confidential the Reserve Price at its entire discretion.
4.3. Bidding
4.3.1. All bids are by individual Lot unless the auctioneer states to the contrary during the live Auction. Lots will usually be sold in their numbered sequence, unless the auctioneer announces otherwise.
4.3.2. All bids must be made in English only.
4.3.3. The auctioneer may accept bids from Bidders present in the sale room, via telephone, online or written bids delivered to Prop Store before the Auction commences, either using the form in this Buyer’s Guide or the online form at propstore.com.
4.3.4. Telephone Bidders must provide to Prop Store a list of Lots on which they intend to bid at least 24 hours before the start of the Auction. Telephone bids will only be accepted on Lots with low-end estimate of at least £500 and telephone calls may be recorded by or on behalf of Prop Store.
4.3.5. Written bids will be executed at the lowest possible price, taking into account the Reserve Price.
4.3.6. Online bids shall be made in accordance with and subject to the terms of the online auction platform access provider.
4.3.7. The auctioneer may also execute (non-identified) bids on behalf of the Seller up to the Reserve Price only. No bids may be made by the Seller in excess of the Reserve Price.
4.3.8. Save as expressly stated in this Buyer’s Guide, Prop Store accepts no liability for errors or omission in respect of bids made online, by telephone or in writing.
4.3.9. The auctioneer may accept or decline bids at his entire discretion.
5. After the Auction
5.1. Successful bids
5.1.1. Prop Store will notify successful Bidders and send (by email unless requested otherwise) a payment invoice setting out the Purchase Price and itemising the Hammer Price and Buyer’s Premium, plus any applicable VAT within 7 calendar days of the end of the Auction.
5.2. Payment
5.2.1. Payment is due within 7 calendar days from receipt of invoice and must be made by the Buyer. Payments from any other source will not be accepted and shall be returned by Prop Store.
5.2.2. Payment must be in Pounds Sterling and may be made by electronic transfer, debit card, credit card (up to a maximum of £25,000) bankers draft or cash (up to a maximum of £5,000). Please quote the Lot number, invoice number and Bidder registration number when making payment to ensure it can be processed as efficiently as possible.
5.2.3. Credit card payments are only acceptable on the express understanding that the Lot is not returnable, refundable nor exchangeable and no charge card credit may be issued in the event of any such return. If payment is made by credit card, Buyer will not undertake any action or effort to stop payment, seek a refund, or attempt a charge back of such amounts – or any Credit Card Fee assessed thereon – by the issuer of the credit card.
5.2.4.
[†] These lots are sold under standard VAT rules. For buyers within the EEC, 20% VAT will be due on the hammer price; 20% VAT will also be due on the Buyer’s premium. If EEC based buyer is a business outside of the U.K. who has provided their VAT number, no VAT will be due. When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Store’s authorised shipper), no VAT will be due on the hammer price; 20% VAT will be due on the Buyer’s premium only ; unless items are exported to a registered business outside the EEC, in which case no VAT is due.
[Ω] These lots have been temporarily imported from outside the EEC for sale at auction in London. For buyers within the EEC (private individuals or registered businesses), 5% VAT will be due on the hammer price; 20% VAT will also be due on the Buyer’s premium. When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Store’s authorised shipper), no VAT will be due.
[Ϻ] These lots are sold under the margin scheme. For buyers within the EEC (private individuals or registered businesses), no VAT will be due on the hammer price; 20% VAT will be due on the Buyer’s premium. When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Store’s authorised shipper), no VAT is due.
[US] These lots are currently located in Prop Store’s Los Angeles facility and will ship directly to the buyer from the Los Angeles facility. For buyers within the EEC (private individuals or registered businesses), no VAT will be charged by Prop Store on the hammer price; 20% VAT will be due on the Buyer’s premium. For buyers outside the EEC, no VAT will be charged by Prop Store.
5.2.5. [AR] On certain Lots marked 'AR' in the catalogue an Additional Premium will be payable by the Buyer for royalties relating to the Artists Resale Right Regulations 2006. It does not apply on art with a hammer price under €1,000. The current breakdown is as follows:
Hammer Price:
- From €0 to €50,000 - 4%
- From €50,000.01 to €200,000 - 3%
- From €200,000.01 to €350,000 - 1%
- From €350,000.01 to €500,000 - 0.5%
- Exceeding €500,000 - 0.25%
Resale royalties are not subject to VAT. Customers will be charged in GB£, however the € currency conversion rate from date of the sale is used.
5.2.6 Successful bidders whose total invoice is equal to or greater than €10,000 (or the GBP equivalent) shall agree to undergo Enhanced Customer Due Diligence (EDD) checks as per the EU Fifth Money Laundering Directive (5MLD). The lots won will not be released until the EDD check has been completed and passed.
5.2.7 Due to the impact of the U.S. Wayfair ruling, Prop Store is obligated to collect sales tax on orders shipped to the following states:
- California 9.5%
- Colorado 2.9%
- Illinois - 6.25%
- Nevada - 4.6%
- New Jersey - 6.625%
- Washington - 10.1%
5.3. Export and Import
5.3.1. It is the Buyer’s sole responsibility to arrange and obtain all necessary export/import licences, permits and any other necessary consents before the Lot is shipped.
5.3.2. Prop Store’s third-party independent recommended freight agent will be able to deal with enquiries from Bidders and Buyers on importing and/or exporting of Lots. Precision Cargo is Prop Store’s freight agent of choice.
5.3.3. With regards to lots exported outside the EEC, if your Lots are shipped by Prop Store or through Prop Store’s authorised shipper, you will not be required to pay VAT when settling your invoice. If you are using any other shipper, or hand carrying your Lots outside the EEC, then VAT will be due on the invoice, which will be refunded once acceptable proof of export is provided by your shipper of choice.
5.3.4. To prove export of your Lots, on Ω Lots, obtain HMRC form C88 through Prop Store’s authorised shipper, which must be stamped by HMRC upon leaving the U.K.. On † or margin scheme Lots, obtain Notice 4 07 from Prop Store’s authorised shipper, which must be stamped by HMRC upon leaving the U.K.. In all cases Lots must be exported within no more than 3 months of the sale date, and proof of export must be reported via the appropriate form.
5.4. Shipping and storage
5.4.1. The Buyer is solely responsible for all shipping and delivery costs. Prop Store recommends Lots are custom-packed and recommends FedEx as its carrier of choice. For oversized Lots, Prop Store recommends Precision Cargo.
5.4.2. In the event of delay in shipping or failure to collect a Lot (for a reason outside Prop Store’s control) within 14 days of the due date for payment of Prop Store’s invoice (or such other date for shipping or collection agreed by Prop Store a storage fee of 3% of the Hammer Price per month shall be charged to the Buyer. If the Buyer has failed to pay the Purchase Price and the cost of shipping and handling, Prop Store, at its option may cancel the sale.
Special Notices
Notice on Firearm Deactivation Firearms with this disclaimer have been permanently and sympathetically deactivated to U.K. legal requirements and no longer retains any functional capacity to fire; a U.K. proof house certificate of deactivation is included. For buyers within the U.S., these Lots may still need to transfer through a Federal Firearms Dealer. It is solely the buyer’s responsibility to check, prior to bidding, the legal status of this weapon within their own country and the importation therein. All costs associated with the transfer will be the buyer’s responsibility.
Notice on U.S. Live Firearms This item is a firearm stored in the U.S., and while it is sold for collectible purposes only, as it is legally a firearm and capable of firing ammunition it must be transferred to a U.S. buyerthrough a Federal Firearms License. You will then have to go through the necessary steps to purchase a firearm, which vary state by state. Exporting the piece to the U.K. or Europe may be possible if it is deactivated at additional cost; please inquire for details.
Notice on Replica Firearms and UK Restrictions Replica firearms Lots will ship with a blaze orange plug affixed to their barrel tip (plug is not depicted in catalog illustrations.) Buyers should be aware that ownership of Lots with this disclaimer is restricted for UK residents to registered re-enactors, galleries, or individuals in film, television, or theater production. Please inquire for further details. There may be restrictions applicable to Buyers in other countries as well; it is solely the Buyer’s responsibility to check, prior to bidding, the legal status of this item within their own country and the importation therein.
Notice on Copyright Lots with this disclaimer are sold without copyright, reproduction rights, licencing agreements or any other type of legal release.
Notice on Electronics and Mechanics Some lots in the auction contain contain electronic and/or mechanical components. While every effort is made to describe them accurately, no guarantee or warranty is made as to the functionality, lifespan or safety of those components. It is entirely incumbent on the new owner to satisfy themselves as to their safe use and maintenance.
Notice on Lots Requiring Special Shipping Lots with this disclaimer, due to their size and/or nature will require specialist shipping service with additional cost. Bidders are strongly advised to contact Prop Store for a shipping quote prior to bidding on these lots.
Prop Store Interest Δ From time to time, Prop Store may offer a Lot which it owns in whole or in part or in which it has a financial interest and any such Lot will be identified in the catalog with the symbol Δ next to its Lot number.
Terms and Conditions
These Terms and Conditions of Sale (“Conditions”) set out the legal relationship between the Bidder/Buyer and Prop Store and the Seller. By registering to bid and participate in a Prop Store Auction, you will be deemed to have read and agreed to be bound by these Conditions and the accompanying Buyer’s Guide, as set forth in the catalogue for the Auction and online atpropstore.com.
1. Interpretation
These Conditions shall include the terms set out in the Prop Store Live Auction Buyer’s Guide, a copy of which has been made available to the Bidder. In the event of any conflict between these Conditions and the Buyer’s Guide, these Conditions shall take precedence.
2. Definitions
2.1. See 2.1 of Buyer's Guide
3. Prop Store as agent
3.1. Unless expressly agreed otherwise, Prop Store acts as agent for the Seller. The contract for the sale of the Lot is made between the Seller and the Buyer.
4. Catalogue descriptions and condition of Lots
4.1. All Lots are sold subject to their condition at the date of the Auction. The nature and age of the Lots means they are often unique and are likely to have wear and tear, damage and other imperfections and may have been totally or partially restored or repaired. By making a bid, the Bidder accepts the actual condition of the Lot and acknowledges that if a bid is successful, the Buyer will buy the Lot ‘as is’.
4.2. Prop Store’s staff are not professional restorers so descriptions of Lots, images and statements of condition in Prop Store’s brochure or on its website are for illustrative purposes only. Poster lots in the auction may have undergone restoration; Prop Store staff will make reasonable efforts to identify any restoration and this will be disclosed within the lot description. Prop Store cannot guarantee that colours are properly shown. Save for Prop Store Terms of Guarantee of Attribution all Lots are sold ‘as is’. Save for Prop Store Terms of Guarantee of Attribution all Lots are sold ‘as is’. Prop Store cannot and does not warranty any restoration the longevity of any restoration work carried out at any point in a lot's lifetime. Bidders are encouraged to inspect Lots and satisfying themselves as to condition before bidding, taking independent professional advice where required.
4.3. Condition reports are available for each lot upon request
4.4. Film posters in the sale include condition abbreviations: M = mint; EX = excellent; VG = very good; G = good; F = fair
4.5. Lots are sold only as collectibles and unless stated expressly to the contrary, Prop Store makes no representation or warranty that any Lot is fit for any other purpose.
4.6. Mannequins, display stands, scale measures and other display equipment are not included with the Lots unless expressly stated in the Lot description in the catalogue.
4.7. Estimates are simply a guide and should not be relied upon as to advice on value or the ultimate Purchase Price, which could be significantly higher.
5. Before the Auction
5.1. Every Bidder must register with Prop Store (including providing evidence of identity) in accordance with the Buyer’s Guide. Personal information shall be used only in accordance with Condition 8 below.
5.2. From time to time, Prop Store may offer a Lot which it owns in whole or in part or in which it has a financial interest and any such Lot will be identified in the catalogue with the symbol Δ next to its Lot number.
5.3. Bidders are aware that, due to the one-of-a-kind nature of the materials, Prop Store only guarantees the provenance of Lots to the extent set out in the Terms of Guarantee of Attribution, and Prop Store will not accept returns of any material and will not issue refunds, credits or exchanges except as provided for in the Guarantee of Attribution.
5.4. As a courtesy to Buyers, Prop Store offers interest free payment plans on all auction invoices with a value of more than £250 (see Condition 7.3 of the Conditions of Sale).
6. At the Auction
6.1. Prop Store reserves the right to refuse admission and/or participation at the Auction and to reject any bid. Bids may not be accepted from unregistered bidders and all Bidders must be 18 or over.
6.2. All bids must be made in GBP Sterling. The auctioneer has the right to exercise reasonable discretion in refusing any bid, advancing the bidding in such a manner as he may decide, withdrawing or dividing any Lot, combining any two or more Lots and, in the case of error or dispute, and whether during or after the sale, determining the successful Bidder, continuing the bidding, cancelling the sale or reoffering and reselling the Lot in dispute. If any dispute arises after the sale, then, in the absence of any evidence to the contrary the sale record maintained by the auctioneer will be conclusive.
6.3. Unless otherwise indicated, all Lots are offered subject to a Reserve Price. The Reserve Price will not exceed the low estimate printed in the catalogue. The Reserve Price will not be more than the lowest estimate given by Prop Store. Prop Store may disclose or keep confidential the Reserve Price at its entire discretion.
6.4. The auctioneer may open the bidding on any Lot below the Reserve Price by placing a bid on behalf of the Seller. The auctioneer may continue to bid on behalf of the Seller up to the amount of the Reserve Price, either by placing consecutive bids or by placing bids in response to other Bidders.
6.5. When making a bid, every Bidder acknowledges that such bid is a binding offer to buy the Lot at that price (plus the Buyer’s Premium, Buyer’s Expenses (if applicable), all applicable taxes and any and all shipping charges, storage and other costs). A successful Bidder will be deemed to be the Buyer unless it has been explicitly agreed in writing with Prop Store before the start of the Auction that the Bidder is acting as agent on behalf of an identified third party acceptable to Prop Store (and registered with Prop Store), and only then will Prop Store regard that third party as the Buyer. In such circumstances, the Bidder acting as agent confirms that he is authorised to bind the third party and that the Buyer has been made aware of and accepts these Conditions.
6.6. Prop Store will use reasonable efforts to execute written bids delivered before the Auction for Bidders unable to attend the auction in person, by an agent or by telephone or online. All such written bids must be made on Prop Store’s Absentee Bids Form (in the catalogue).
6.7. If Prop Store receives written bids on a particular Lot for identical amounts, and at the auction these are the highest bids on the Lot, it will be sold to the person whose written bid was received and accepted first.
6.8. Online bidding at Prop Store Auctions is made available via third party service providers and use of their services and all online bidding is subject to their respective terms of use. Successful online bids will be subject to payment of Buyer’s Expenses.
6.9. The Auction will be tracked on a video or digital screen, which may display, among other things, a photograph of the Lot offered for sale and the then-current bid. Bidders understand and agree that errors may occur in its operation and, except as expressly stated in the Buyer’s Guide or these Conditions, Prop Store shall have no liability arising out of or related to any errors or omission in respect thereto.
6.10. By participating in and/or attending the Auction and signing the registration form, each person consents to be filmed and/or photographed and agrees and authorises Prop Store to use and publish such film and/or photographs, name and likeness for use in (1) providing online access to the Auction, (2) recording the results of the Auction, (3) print, digital, online and all other media for marketing purposes (including without limitation, on Prop Store’s website, YouTube and other online platforms) and (4) in any other Prop Store publications of whatever nature. The participant releases Prop Store and holds it harmless from any reasonable expectation of confidentiality or privacy associated with such images and releases Prop Store and any third parties involved in the making, creation or publication of the images or any marketing or other materials from all and any liability for claims made in respect of such publication. Publication of the images in whatever format confers no right of ownership on the individual or right to royalties or payment. A designated area will be set aside if you do not wish to be filmed. If you wish to withdraw consent, email support@propstore.com.
6.11. Subject to the auctioneer’s reasonable discretion, the Bidder placing the highest bid accepted by the auctioneer will be the Buyer and the striking of his hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Seller and the Buyer. Risk and responsibility for the Lot (including frames or glass where relevant) passes to the Buyer on the date seven calendar days from the date of the sale or on collection by the Buyer if earlier and the Buyer should arrange insurance cover for the Lot if required.
7. After the Auction
7.1. Prop Store will notify successful Bidders and send (by email unless requested otherwise) a payment invoice setting out the Purchase Price and itemising the Hammer Price and Buyer’s Premium plus any applicable VAT within 7 calendar days of the end of the Auction.
7.2. Unless a payment plan (as set out in condition 7.3 below) has been agreed by Prop Store, payment is due within 7 calendar days from receipt of invoice and must be made by the Buyer. Payments from any other source will not be accepted and shall be returned by Prop Store.
7.3. Payment plans will be available in 1, 2, or 3 month increments on any invoice over £250, unless otherwise specified on the individual lot. Bidders wishing to utilise the payment plan service, if approved by Prop Store, will be responsible for paying a 20% deposit on their Lots within 7 calendar days of receiving their invoice. The balance will then be split over 1, 2 or 3 months per the Buyer’s selection. If the 1 month option is selected, the remaining balance on the Lot will be due 30 days after the deposit date. If the 2 month option is selected, half of the remaining balance will be due 30 days after the deposit date and the remaining half 30 days after that, and so on.
7.4. Prop Store offers no grace period on payment plan deadlines. If the Buyer does not adhere to payment deadline as agreed under the terms of the payment plan, the Buyer will have defaulted. In the event of default all funds already paid to Prop Store will be forfeited by the Buyer, and title of the Lot will not transfer to Buyer. Prop Store and the Seller shall also be entitled to all remedies for non-payment as described below and at law.
7.5. Title in the Lot will pass to Buyer and the Lot will be made available for collection by the Buyer only when Prop Store is completely satisfied that all monies owing have been paid in full.
7.6. Payment must be in Pounds Sterling and may be made by electronic transfer, debit card, credit card (up to a maximum of £25,000) bankers draft or cash (up to a maximum of £5,000). Please quote the Lot number, invoice number and Bidder registration number when making payment to ensure it can be processed as efficiently as possible.
7.7. Credit card payments are only acceptable on the express understanding that the Lot is not returnable, refundable nor exchangeable and no charge card credit or refund may be issued in the event of any such return. If payment is made by credit card, Buyer will not undertake any action or effort to stop payment, seek a refund, or attempt a charge back of such amounts – or any Credit Card Fee assessed thereon – by the issuer of the credit card.
7.8.
[†] These lots are sold under standard VAT rules. For buyers within the EEC, 20% VAT will be due on the hammer price; 20% VAT will also be due on the Buyer’s premium. If EEC based buyer is a business outside of the U.K. who has provided their VAT number, no VAT will be due. When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Store’s authorised shipper), no VAT will be due on the hammer price; 20% VAT will be due on the Buyer’s premium only; unless items are exported to a registered business outside the EEC, in which case no VAT is due.
[Ω] These lots have been temporarily imported from outside the EEC for sale at auction in London. For buyers within the EEC (private individuals or registered businesses), 5% VAT will be due on the hammer price; 20% VAT will also be due on the Buyer’s premium. When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Store’s authorised shipper), no VAT will be due.
[Ϻ] These lots are sold under the margin scheme. For buyers within the EEC (private individuals or registered businesses), no VAT will be due on the hammer price; 20% VAT will be due on the Buyer’s premium. When lots are exported outside the EEC (proof of export required or shipped by Prop Store or through Prop Store’s authorised shipper), no VAT is due.
[US] These lots are currently located in Prop Store’s Los Angeles facility and will ship directly to the buyer from the Los Angeles facility. For buyers within the EEC (private individuals or registered businesses), no VAT will be charged by Prop Store on the hammer price; 20% VAT will be due on the Buyer’s premium. For buyers outside the EEC, no VAT will be charged by Prop Store.
[AR] Artist’s Resale Right - On certain Lots marked 'AR' in the catalogue an Additional Premium will be payable by the Buyer for royalties relating to the Artists Resale Right Regulations 2006. It does not apply on art with a hammer price under €1,000. The current breakdown is as follows:
Hammer Price
- From €0 to €50,000 - 4%
- From €50,000.01 to €200,000 - 3%
- From €200,000.01 to €350,000 - 1%
- From €350,000.01 to €500,000 - 0.5%
- Exceeding €500,000 - 0.25%
Resale royalties are not subject to VAT. Customers will be charged in GB£, however the € currency conversion rate from date of the sale is used.
7.9. The Buyer will not acquire title to the Lot until all amounts due to the Seller and Prop Store from the Buyer have been received by Prop Store in cleared funds even in circumstances where Prop Store has released the Lot to the Buyer.
7.10. By registering for this auction the Buyer authorises Prop Store to charge the credit card provided at registration for all Lots purchased at the auction, and any future auction a Bidder may participate in, if not paid in full within 7 calendar days after the auction close.
7.11. If the Buyer does not make any payment due to Prop Store by the due date for payment, Prop Store may charge interest on the overdue amount at the rate of 5% a year above the base lending rate of LloydsTSB Bank plc from time to time. This interest shall accrue on a daily basis from the due date until the date of actual payment of the overdue amount, whether before or after judgment. The Buyer must pay Prop Store interest together with any overdue amount.
7.12. In addition to its rights in condition 7.11 and at law, in the event of default by the Buyer, Prop Store may take one or more of the following actions:
7.12.1. hold the Buyer liable for the total amount due and commence legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law;
7.12.2. cancel the sale;
7.12.3. resell the Lot publicly or privately on such terms as Prop Store shall think fit;
7.12.4. pay the Seller an amount up to the net proceeds payable in respect of the Hammer Price;
7.12.5. set off against any amounts which Prop Store may owe to the Buyer in any other transactions, some or all of the outstanding amount remaining unpaid by the Buyer;
7.12.6. apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not the Buyer so directs;
7.12.7. reject at any future auction any bids made by or on behalf of the Buyer or to require a deposit from the Buyer before accepting any further bids;
7.12.8. exercise all the rights and remedies of a person holding security over any Lot in Prop Store’s possession owned by the Buyer, whether by way of pledge, security interest or in any other way, to the fullest extent permitted by the law of the place where such Lot is located. The Buyer will be deemed to have granted such security to Prop Store and it may retain such Lot as collateral security for such Buyer’s obligations;
7.12.9. take such other action as Prop Store deems necessary or appropriate. If Prop Store resells the Lot under condition 7.12.3 above, the Buyer shall be liable for payment of any deficiency between the total amount originally due to Prop Store and the amount received upon resale as well as all reasonable costs, expenses, damages, legal fees and commissions and premiums of whatever kind associated with both sales or otherwise arising from the default. If Prop Store pays any amount to the Seller under condition 7.12.4 above, the Buyer acknowledges that Prop Store shall have all of the rights of the Seller, however arising, to pursue the Buyer for such amount.
7.13. Prop Store shall be entitled to retain Lots sold until all amounts due have been received in full in good cleared funds or until the Buyer has performed any other outstanding obligations as Prop Store shall reasonably require. Subject to this, the Buyer shall collect, or have shipped or collected for shipment, purchased Lots within 7 calendar days from the date of the sale unless otherwise agreed between Prop Store and the Buyer. Lots can be collected in person by appointment only.
7.14. Each Lot will require a custom packing service and by bidding on a Lot a Bidder agrees to pay all relevant shipping costs. Prop Store’s carrier of choice is FedEx, although some Lots will require special freight service. Potential shipping estimates can be obtained by emailing shipping@ propstore.com detailing the Lot number of interest and the shipping address prior to the auction.
7.15. Prop Store recommends working with its preferred third-party independent freight agent Precision Cargo on any questions regarding importing and exporting Lots.
7.16. Although Prop Store shall use reasonable efforts to take care when selecting third parties for these purposes, the Buyer will contract directly with such third party and Prop Store accepts no liability or responsibility for the acts or omissions of any such third parties. Similarly, where Prop Store suggests other handlers, packers or carriers, its suggestions are made on the basis of its general experience of such parties in the past and Prop Store is not responsible to any person to whom it has made a recommendation for the acts or omissions of the third party concerned.
7.17. It is the Buyer’s sole obligation and responsibility to be aware of, to comply with, and to pay for all relevant import duties, taxes, VAT, customs and other fees charged in the Buyer’s local jurisdiction. Prop Store will ship all packages with the full value of the Lot declared. Buyer understands and agrees that Prop Store shall have no obligation or responsibility for any import duties, taxes, VAT, customs, shipping or other charges for the Lots shipped. Failure by the Buyer to pay all necessary amounts may result in the relevant authorities returning the Lot to Prop Store and in those circumstances the Buyer will be charged and will pay storage cost and Prop Store’s additional reasonable costs and expenses.
7.18. It is the Buyer’s responsibility to ensure that any Lot purchased from Prop Store enters the shipping location lawfully, that all duties and taxes have been paid and that all required export procedures, regulations, and laws were properly complied with. Buyer understands and agrees that Prop Store shall have no obligation or responsibility for complying with any export procedures, regulations, or laws applicable to the Lot.
7.19. Unless otherwise agreed by Prop Store in writing, the fact that the Buyer wishes to apply for an export licence does not affect or postpone the Buyer’s obligation to make payment in accordance with Prop Store’s payment terms nor Prop Store’s right to charge interest or storage charges on late payment. If the Buyer requests Prop Store to apply for an export licence on his or her behalf, Prop Store shall be entitled to make a charge and be paid for this service. Prop Store shall not be obliged to rescind or cancel a sale nor to refund any monies paid by the Buyer to Prop Store as a result of or related to the Buyer’s failure or inability to obtain an export license.
7.20. Where Lots are not collected within 14 calendar days from the due date of payment, whether or not payment has been made, a storage fee of 3% of the Hammer Price per month shall be charged to the Buyer. If the Buyer has failed to pay the Purchase Price and the cost of shipping and handling, Prop Store, at its option may cancel the sale.
7.21 Successful bidders whose total invoice is equal to or greater than €10,000 (or the GBP equivalent) shall agree to undergo Enhanced Customer Due Diligence (EDD) checks as per the EU Fifth Money Laundering Directive (5MLD). The lots won will not be released until the EDD check has been completed and passed.
7.22 Due to the impact of the U.S. Wayfair ruling, Prop Store is obligated to collect sales tax on orders shipped to the following states:
- California 9.5%
- Colorado 2.9%
- Illinois - 6.25%
- Nevada - 4.6%
- New Jersey - 6.625%
- Washington - 10.1%
8. Use of information
8.1. Prop Store will hold all personal information provided by the Bidder at registration and the Bidder agrees and consents to such information being used by Prop Store to:
8.1.1. make available each Lot for shipping to the Buyer;
8.1.2. process the Buyer’s payment and use the registered email address to update the buyer about their order, including but not limited to sending reminders relating to any outstanding payment;
8.1.3. contact credit reference agencies and keep records of any searches carried out on Prop Store’s behalf;
8.1.4. where explicit consent has been given, inform the Bidder about upcoming auctions and news (please contact Prop Store by email at support@propstore.com or by phone +44 (0)1494 766485 if you wish to stop receiving these);
8.1.5. inform the Bidder about important auction updates; this personal information including email addresses will be deleted from the auction mailing list once the auction is complete
9. Liability
9.1. If Prop Store fails to comply with these Conditions it is responsible for loss or damage a Buyer suffers that is a foreseeable result of Prop Store’s breach or its negligence. Prop Store is not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if an obvious consequence of Prop Store’s breach or if contemplated by the Buyer and Prop Store at the time the hammer falls on the Lot at the Auction.
9.2. Subject to condition 9.3, Prop Store’s liability shall be limited to the amount actually paid for the Lot by the Buyer. Save to the extent required by law, in no event shall Prop Store be liable for incidental or consequential damages of any kind.
9.3. Prop Store does not exclude or limit its liability for:
9.3.1. death or personal liability caused by its negligence or the negligence of its employees, agents or subcontractors;
9.3.2. fraud or fraudulent misrepresentation; and
9.3.3. breach of the terms implied by sections 12, 13, 14 and 15 of the Sale of Goods Act 1979 (title, description, quality and fitness for purpose) save to the fullest extent permissible at law.
10. Terms of Guarantee of Attribution
10.1. Prop Store warrants the attribution of each Lot as stated in the title block (film title and item title) of that Lot in the Auction catalogue, subject to any revisions (which may be given in writing or online before or during the Auction at which the Lot is purchased by the Buyer); this is Prop Store's Guarantee of Attribution. Buyers should be aware that multiple examples of props and costumes are frequently used during production and it is often impossible to determine whether a specific piece has been used on-camera. Any specific on-camera usage known to Prop Store will be noted within the description, but no warranties are given by Prop Store on that description.
10.2. If a Buyer demonstrates, to Prop Store’s reasonable satisfaction, that the Guarantee of Attribution is materially incorrect, the sale will be rescinded if the Lot is returned to Prop Store in the same condition in which it was at the time of sale. In order to satisfy Prop Store that the Guarantee of Attribution is materially incorrect, Prop Store reserves the right to require the Buyer to obtain, at the Buyer’s expense, the opinion of two experts in the field, mutually acceptable to Prop Store and the Buyer.
10.3. In the event a sale is rescinded in accordance with condition 10.2, Prop Store shall repay to the Buyer the Purchase Price. Repayment of the Purchase Price shall be the Buyer’s sole remedy for an incorrect Guarantee of Attribution, to the exclusion of all other remedies to the extent permissible at law. It is specifically understood that this will be considered the Buyer’s sole remedy under this clause 10.
10.4. The Buyer expressly agrees that Prop Store shall not be liable in whole or in part, for, and the Buyer shall not be entitled to recover, any special, indirect, incidental or consequential damages including loss of profits or value of investment or opportunity cost.
10.5. Bidders are aware that description revisions may occur on some Lots, and should inquire before the Auction whether any description revisions have occurred on a given Lot and/or examine a lot before bidding on it. Prop Store will make all reasonable efforts to make description revisions readily available during the Auction.
10.6. Except as expressly provided in these Conditions Prop Store shall have no liability to the Buyer in respect of a Lot and all and any implied warranties and conditions are excluded to the fullest extent permitted by law.
11. Intellectual property rights
11.1. The copyright in all images, illustrations and written material produced by or for Prop Store relating to a Lot (including the contents of the Auction catalogue), is and shall remain at all times the property of Prop Store and shall not be used by the Buyer, nor by anyone else, without Prop Store’s written consent. Prop Store and the Seller make no representation or warranty that the Buyer of a Lot will acquire any copyright or other reproduction rights in it.
11.2. In the catalogue descriptions, Prop Store takes steps to identify and provide provenance for Lots offered at auction. In many cases, the Lots offered were used in or in conjunction with motion pictures or other programmes and information is furnished in order to fully identify and describe the Lot offered at Auction, including photographs and illustrations. Prop Store in no way claims any connection to or relationship with the producers of the motion picture or other programme. In all cases, the use of the titles or other elements of a motion picture or other programme is for informational purposes only.
12. Events outside our control
Prop Store will not be liable or responsible for any failure to perform, or delay in performance of, any of its obligations under these Conditions that is caused by an event outside its control, that being any act or event beyond Prop Store’s reasonable control, including without limitation strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks. Prop Store’s obligations shall be suspended and time for performance extended until such time as the event outside it’s control is over, following which a new collection or shipping date can be agreed.
13. Other important terms
13.1. If any part of these Conditions is found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the Conditions shall continue to be valid to the fullest extent permitted by law.
13.2. The contract is between the Seller, Buyer and Prop Store and no other person shall have any rights to enforce any of its terms.
13.3. If Prop Store fails to insist on performance of any of a Buyer’s obligations under these Conditions, or if it delays in doing so, that will not mean that Prop Store has waived its rights against the Buyer and does not mean the Buyer no longer has to comply with those obligations.
13.4. These Conditions are governed by English law, without regard to its choice of law provisions. The Parties agree that any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this agreement or its subject matter or formation may be brought in any court of competent jurisdiction located in England or Wales or, alternatively, in any court of competent jurisdiction where Prop Store or the Bidder/Buyer resides, at the option of the Party bringing the claim, only. The Parties expressly agree to the jurisdiction of such courts and agree to submit to the jurisdiction of such courts. The prevailing party shall be entitled to an award of all attorneys’ fees, costs and expenses incurred by it/him/her in connection with the dispute. “Attorneys’ fees and expenses” includes, without limitation, paralegals’ fees and expenses, attorneys’ consultants’ fees and expenses, expert witness’ fees and expenses, and all other expenses incurred by the prevailing party or its attorneys in the course of their representation of the prevailing party in anticipation of and/or during the course of the litigation, whether or not otherwise recoverable as “attorneys’ fees” or as “costs” under applicable law; and the same may be sought and awarded in accordance with applicable procedure as pertaining to an award of contractual attorneys’ fees.
13.5 By registering for this auction, the supplied card will automatically have a sum of £0.01 held and subsequently returned within 30 working days to verify the validity of the card.
13.6 The buyer is solely responsible for ascertaining that each lot sold with copyright is otherwise cleared for publication including but not limited to satisfying any publicity right that persons appearing in an image may have under any statute or common law. Neither the consignor nor Prop Store Ltd makes any representation or warranty as to any matters that need to be cleared prior to publication. No representation or warranty is made regarding copyright outside of the United Kingdom. All publication issues should be referred to the buyer’s own professional advisors. All representations or warranties as to copyright or rights to publish are solely made by the consignor and not Prop Store Ltd; the buyer agrees that Prop Store Ltd. will not be liable to Buyer in any respect for alleged breach of any such representation or warranty.