Terms of Sale

(1) St. James's Auctions Limited [the Company] is a division of
Knightsbridge Coins. The Company acts as agent for the seller. Sales
made by the Company at public auction are sales made on behalf of the
(2) The buyer of any lot will be the highest bidder. In the event of any
dispute, the auctioneer shall have absolute discretion to settle the dispute
as he thinks best; this may mean re-offering the lot for sale.
(3) The auctioneer shall have absolute discretion to divide any lot,
combine two or more lots or withdraw any lot or lots without giving any
reason. In the case of a dispute, he may re-offer a lot for sale. The
auctioneer also has the right to refuse any bid or bids without giving a
(4) The Company and auctioneer shall have absolute discretion to refuse
admission to their premises or attendance at their auction of any person
they deem unsuitable, without giving any reason for, or prior notice of,
their action.
(5) The minimum increment between bids will normally be 5%. The
auctioneer has the right to refuse any bid which is not in line with this
increase. He also has absolute discretion to vary this increment as he sees
(6) All lots are subject to a Buyer's Premium of 24.00%, inclusive of
VAT, (20% + VAT), payable by the buyer if resident in the EU. The
symbol 'G' appearing next to a lot in this catalogue indicates the item is
'Investment Gold' and therefore a VAT-registered trader can submit a
claim to HM Revenue and Customs to recover the VAT element of the
Buyer’s Premium. In the case of a lot marked with a dagger (†), import
VAT at 5% will be added to the hammer price and will be payable by the
buyer if resident in the EU. If the lot is being exported outside the EU,
this import VAT can be waived or refunded on proof of export.
(7) Each bidder shall be deemed to act as principal unless the Company
acknowledges in writing prior to the auction that he acts as agent for a
named third-party principal. For bidders unable to attend the auction in
person, commissions will be executed free-of-charge. Such bids must be
written and must be received at least 24 hours before the sale begins. The
Company cannot guarantee to execute bids received less than 24 hours
before the sale. 'Buy' bids will not be accepted. The Company shall not be
liable for any errors or omissions in executing such commissions.
(8) All buyers must, if requested, notify their name and address to the
auctioneer and, if required, provide additional proof of identification,
bank references or other credit references. All buyers must pay the full
purchase price, at the point of collection of purchases, or a fractional
deposit as may be determined at the auctioneer's discretion, unless the
Company has previously arranged credit terms. Seven working days must
be allowed for clearance of personal cheques before delivery can be made
unless a prior agreement has been reached. A 2.5% surcharge will be
applied to all credit card payments.
(9) Ownership of lots does not pass to the buyer until the Company
has received payment in full.
(10) All lots, however, are held to be at the buyer's risk from the fall of
the hammer. All lots shall be removed by the buyer within seven working
days after the date of the sale. Any lots not so removed may become liable
to removal, insurance and storage charges. Such lots may, at the
auctioneer's discretion, be re-offered for sale at auction or by private treaty
without further notice to the buyer.
(11) All lots are offered for sale subject to any reserve price that may be
imposed by the seller. The seller may not subsequently change the reserve
without the agreement of the Company. Where a reserve has been set,
only the auctioneer may bid on behalf of the seller. Lots are normally
reserved at 80% of lower estimate, with auctioneer's discretion. Unless reoffered
for sale, the collection of unsold lots shall be the responsibility of
the seller.
(12) (a) Lots are sold as shown with all faults, imperfections and errors
of description and lack of authenticity. The Sale of Goods Act 1979 does
not apply to the sale of any lot. Neither the Company nor the seller shall
give any warranty to any buyer in respect of any lot or be liable for any
fault or error of description or lack of genuineness or authenticity of any
lot. All statements as to items sold, whether made in catalogues, during the
course of the auction or otherwise, are statements of opinion only and
are not and shall not be taken to be statements or representations of fact.
The Company reserve the right in forming their opinion to consult and
rely upon any expert or authority considered by them to be reliable. Coins
are graded to accepted UK standards to the best ability of our specialists.
You acknowledge that the grading of coins is subjective and may vary
from specialist to specialist, as the process is by nature an art and not a
science. For this reason, we do not automatically accept and are not bound
by the opinions of third party coin grading services for any purposes
including before and after the sale of a lot.
(b) Refund policy – notwithstanding the foregoing, if any lot
should be proved by the buyer to be not genuine or authentic, or to have
been wrongly described in any material respect, the buyer may reject the
same provided that he has given notice in writing of his intention so to
do and shall have returned the same to the Company within one month
from, and in the same condition as at, the date of sale. If the coin was in
a plastic holder at the time of sale, we cannot accept its return if it has
been removed from that holder. The onus of proving a lot to be not
genuine or authentic or to have been wrongly described shall lie with the
buyer. Proof of the inability of any recognised expert or authority to
express a definite opinion shall not discharge such onus. If the buyer shall
discharge such onus, the auctioneers shall rescind the sale and repay to the
buyer the price paid by him. Save as provided herein, the Company shall
not under any circumstances whatsoever be liable for any costs, expenses
or damages (whether direct, indirect, special or consequential) incurred or
suffered by the buyer in respect of any lot, whether or not as a result of
any fault, imperfection, error or description or lack of genuineness or
authenticity, including but not limited to loss of any kind of profit
whatsoever. The buyer will not be entitled to claim interest on the amount
due to him. The buyer shall not be entitled to a refund for any lot for any
reason save as set out in this clause 12(b).
(13) Save as provided in the preceding paragraph of these conditions
buyers must satisfy themselves as to the accuracy of their purchases at
the time of delivery. The Company cannot be held responsible for any
discrepancy which might be discovered after the lots have been removed
from either the auction room or the auctioneers' premises.
(14) As stated in paragraph (1), the Company acts solely as agent between
buyer and seller and shall not be held responsible for any default by either
party or for any action or claim that may arise in connection with any lot.
(15) Any part of the purchase price still outstanding after the auction, in
line with the terms of paragraph (8), shall be paid in full within thirty days
of the date of the auction. Without prejudice to any other rights, the
Company reserves the right to charge interest on any overdue payment at
a rate of three per cent per month. In the event that the company shall
have paid the seller (normally 35 days after the sale) and part of the
purchase price is still outstanding, title to the lot will pass to the Company.
The Company shall then have the right to sell any other goods belonging
to the buyer and held by the Company for whatever reason at such a price
that the company, in its absolute discretion, thinks fit. The buyer shall
also reimburse the Company for any additional costs incurred in this
(16) Buyers accepting commissions from third parties do so at their own
risk. They remain responsible to the Company for full settlement
according to these conditions
(17) Privacy Policy - We may collect and process information you give to
us such as your name, address and references. We will use this information
to carry out our obligations arising from any contracts entered into
between you and us and to provide you with the information, products
and services that you request from us or that we offer. We may share your
personal information with any member of our group, which means our
subsidiaries, our ultimate holding company and its subsidiaries, as defined
in section 1159 of the UK Companies Act 2006. We may share your
information with selected third parties including: business partners,
advertisers and analytics. We may disclose your personal information to
third parties in the event we sell or buy any business or assets in which
case we may disclose your personal data to the prospective seller or buyer
or such business or assets or if we are under a duty to disclosure or share
your personal data in order to comply with any legal obligation or in order
to enforce or apply our terms of use. You have the right to ask us not to
process your personal data for marketing purposes.
(18) By making a bid, the buyer acknowledges his acceptance of these
conditions and agrees to be bound by them.
(19) If any buyer fails to comply with any of these Conditions, the lot or
lots in respect of which the failure is made may at the discretion of the
Company be put up again and resold. The damages recoverable from the
defaulting buyer shall include, but not be limited to, the auctioneers'
expenses and commission in respect of the resale and the amount (if any)
by which the price obtained on the resale is exceeded by that obtained on
the first sale.
(20) A variation of these Conditions shall only be binding on the
Company and the seller if it is made in writing and signed by a duly
authorised representative of the Company.
(21) These Conditions shall take effect and be construed in accordance
with the provisions of English law.