Auction Terms & Conditions

(These terms were last updated on 18th May 2018.)

1.1. These terms and conditions (“Terms”) govern:

1.1.1. your use of the online auction services on our website www.makersarchive.pentagon.studio;

1.1.2. the relationship between Registered Bidders, Buyers and Sellers; and

1.1.3. the relationship between you and Amati Instruments Limited, a company
incorporated in England and Wales with registered office at 4 Prince
Albert Road, London, NW1 7SN, United Kingdom and with registered number
08506963 (“we”, “us”).

1.2. By:

1.2.1. using the Auction Services;

1.2.2. registering for an Auction Account;

1.2.3. placing a bid in an Online Auction; and/or

1.2.4. checking the “I have read and agree to the Auction Terms and Conditions
and Privacy Policy” box on our Website, you are agreeing to these Terms and to the processing of any of your personal
data in accordance with our Privacy Policy (available at https://www.makersarchive.pentagon.studio/policy).

1.3. You may not use the Auction Services if you are under the age of 18 years old. By agreeing to these Terms, you represent that you are at least 18 years old.

1.4. If you do not agree to these Terms you may not use the Auction Services, register for an Auction Account or make any bid.

1.5. We may, at our sole discretion, modify or replace these Terms at any time. It is your responsibility to check these Terms periodically for changes and, if you are a Registered Bidder, before commencing bidding on any Lot. Your continued use of the Auction Services following the posting of any changes to these Terms and/or, when you log into your Auction Account, or by checking the “I have read and agree to the Terms and Conditions and Privacy Policy” box on the Website, constitutes your acceptance of such changes. If you do not agree to such changes, you should stop using the Auction Services.

All capitalised words and expressions in these Terms have the corresponding meanings given to them in Part 1 of the paragraph entitled “Definitions and Interpretation”, unless the context requires otherwise. These Terms shall be interpreted in accordance with Part 2 of the paragraph entitled “Definitions and Interpretation”.

In this section, “you” and “your” means you as a prospective or actual Registered Bidder and/or a Buyer.

3.1. In order to bid on any Lot in an Online Auction, you must be a Registered Bidder at the time that you bid. You may apply to become a Registered Bidder at any time by completing and submitting the online application form available at https://www.makersarchive.pentagon.studio/register and paying the Credit Check Fee. You represent, warrant and undertake to us that all information contained in your application is complete, truthful and accurate. It is your responsibility to update and maintain any changes to such information through your Auction Account.

3.2. You acknowledge and agree that:

3.2.1. subject to applicable law, we have an absolute discretion whether to accept you as a Registered Bidder; and

3.2.2. we may carry out credit checks and identity verification checks on you in accordance with our Privacy Policy.

3.3. If your application to become a Registered Bidder is successful, we will notify you by email at the address provided by you in your application.

3.4. We reserve the right to ask you at any time, whether before or after you are accepted as a Registered Bidder, to provide us with a bank guarantee, payment in advance or a financial reference in order for you to be permitted to bid on any Lot in an Online Auction.

3.5. We reserve the right to cancel your Registered Bidder status and close your Auction Account by giving you notice to that effect at any time (whether before, during or after any Online Auction) if you fail to make payment for any Lot in accordance with Clause 10.

If you become a Registered Bidder, we will provide you with access to our Online Auctions through a designated Auction Account using a username and password system. You are responsible for maintaining the confidentiality of your password and access to your Auction Account, and are responsible for all activities that occur under your Auction Account. In particular,  you agree that we shall be entitled to treat all activities conducted through your Auction Account as having been made by you. You should therefore not provide or allow access of any kind to your Auction Account to any other person since it is possible that, if you do, they may use your Auction Account to make bids, and therefore commit you to purchasing items you had not intended to purchase. You agree to immediately notify us of any unauthorised use of
your Auction Account or of any other breach of security. We cannot and will not be liable for any loss, damage or other liability arising from your failure to comply with this Clause or from any unauthorised access to or use of your Auction Account, including any use that results in you being bound as Buyer to pay for any Lot.

5.1. We act as agent for the Seller and not as a principal. Accordingly you acknowledge and accept that we shall not be liable for any breach of these Terms by the Seller.

5.2. Any sale of goods through an Online Auction will result in a contract made between the Seller and the Buyer (“Contract of Sale”). We are not and shall not be a party to any Contract of Sale.

6.1. We may, at our discretion make available (on the Website or otherwise) a condition
report in respect of a Lot (“Condition Report”).

6.2. Subject to Clauses 6.3 and 6.4, we will use reasonable care when preparing a
Condition Report.

6.3 You acknowledge that:

6.3.1. we make available Condition Reports as a courtesy to Registered Bidders, prospective Registered Bidders and Buyers;

6.3.2. Condition Reports are provided for general information purposes only;

6.3.3. Condition Reports are not intended to amount to advice on which you should rely; and

6.3.4. the Condition Report is not intended to be a comprehensive description of the condition of the Lot, and where the Condition Report refers to defects or other imperfections in the Lot, you acknowledge that there may be other defects and/or imperfections in the Lot that are not expressly mentioned in the Condition Report.

6.4. If you are a Registered Bidder, you acknowledge that:

6.4.1 we do not carry out extensive due diligence on Lots and it is entirely at
our discretion whether to seek expert advice on any Lot;

6.4.2. where we make any statement describing the Lot, whether in a Condition Report, on the Website, orally or otherwise, we are merely expressing an opinion and we do not (and nor does the Seller) give any warranty, promise or guarantee or make any representation of fact whatsoever as to the origin, quality, state of repair, condition, age, maker, attribution, authenticity, history and/or value of a Lot, and accordingly, it is your responsibility to satisfy yourself as to these matters before bidding for any Lot that you are interested in;

6.4.3. you rely only on your inspection, independent enquiries and independent
due diligence in deciding whether to Bid or to buy any Lot and you will not rely on the Condition Report or on any statement or representation
concerning, or description of the Lot published or made by us on the Website or otherwise; and

6.4.4. all Lots are sold “as is” and accordingly we are not responsible for any fault or defect in any Lot. Nothing in this Clause 6.4 is intended to
exclude our liability for fraud or fraudulent misrepresentation.

6.5. Lots are available for inspection by prior appointment. Please contact us at info@makersarchive.pentagon.studio or +44 (0)20 7099 7114 to arrange an appointment.

6.6. Images published on the Website are not intended to provide a full or complete description of any Lot. Images are for guidance only and should not be relied upon to determine any aspect of any Lot.

6.7. Where we give an estimate (whether in writing, on the Website or by any other means) as to the price that a Lot will achieve in an Online Auction, you acknowledge that such estimate is given only as an opinion and is not a representation or warranty as to the actual price that the Lot will achieve.

7.1. All Online Auctions shall be conducted on a timed basis. The start and end time of each Online Auction will be shown on the Website. We may at our discretion close early or extend any Online Auction, for example, as a result of technical issues. No bid will be accepted before an Online Auction has begun or after an Online Auction has closed.

7.2. If a bid is placed within the final 5 minutes of an Online Auction, the duration of such Online Auction shall be automatically extended for a further 2 minutes. This process shall be repeated until such time that a bid is not made within the last 5 minutes of the Online Auction.

7.3. Registered Bidders may only place bids via the Website. Subject to Clause 8, we will not accept any bids by telephone or in writing.

7.4. We reserve the right to withdraw a Lot at any time if:

7.4.1 we doubt the authenticity of the Lot;

7.4.2. we doubt the Seller’s title to or ownership of the Lot or the Seller’s lawful right to sell the Lot;

7.4.3. we reasonably believe that any information provided to us by the Seller in relation to the Lot is untrue or incorrect;

7.4.4. we believe that the Seller is in breach of any of the warranties in Clause 16.1; or

7.4.5. we believe that it would be unsuitable to put up the Lot for auction.

7.5. We reserve the right, in our absolute discretion, to divide and/or combine any Lots.

7.6. The winning bid in any Online Auction will be the highest bid that:

7.6.1. exceeds the Reserve Price, if any (and subject to Clause 19.7);

7.6.2. complies with these Terms; and

7.6.3. meets any other additional conditions published in the description of the item (if any) on the Website at the time that the auction ends (“Winning Bid”).

7.7. We may, in our absolute discretion, select and modify the increments that bids will follow in any Online Auction.

7.8. We reserve the right to cancel or avoid an Online Auction or the result thereof (including by way of revoking a Winning Bid) if and to the extent a system failure results in the Online Auction not functioning as it should or publishing an incorrect outcome. In the event of such a system failure, we will notify you as soon as reasonably practicable of such error and the action we have decided to take to rectify the failure. This may involve us relisting a Lot for a future Online Auction.

8.1. If you are a Registered Bidder, you may ask us to bid on your behalf in an Online Auction by submitting an Absentee Bid Request in person or emailing your Absentee Bid Request to info@makersarchive.pentagon.studio. You must submit your Absentee Bid Request no later than 24 hours before the commencement of the relevant Online Auction. Our services for absentee bidders are provided free of charge as a courtesy and may be withdrawn at any time. We make no promise and give no warranty or guarantee that we will meet a particular request to make an absentee bid, even if the Absentee Bid Request is received within the time limit stipulated in this Clause. Accordingly we accept no liability for any failure to make an absentee bid. If we make an absentee bid, we will use reasonable efforts to follow the instructions
contained in the corresponding Absentee Bid Request.

8.2. If we receive more than one Absentee Bid Request in respect of a particular Lot, and the bids are for identical amounts and at the close of the Online Auction, the absentee bids are the highest bids for the Lot, the Winning Bid shall be the absentee bid that we received first.

9.1. If at the end of the Online Auction, a Lot is unsold (other than because we have withdrawn it), the Lot may be automatically added to an after sale list which is published after the Online Auction ends (“After Sale List”).

9.2. You may contact us and offer to purchase a Lot from the After Sale List. If your bid exceeds the Reserve, we may authorise the sale of your Lot without contacting the Seller and the sale will be completed as if the Lot had been sold in the
Online Auction. If your offer is less than the Reserve, we will contact the Seller to discuss whether they wish to proceed with the sale. If they do, the sale will be completed as if the Lot had been sold in the Online Auction.

10.1 If your bid is the Winning Bid in relation to a Lot, you will be a “Buyer” for the purpose of these Terms.

10.2 The Winning Bid constitutes an offer to purchase the Lot from the Seller at the Hammer Price, which we (acting as the Seller’s agent) may accept in our discretion. We will notify you by email and/or through your Auction Account at the end of the Online Auction if you are the person who submitted the Winning Bid and whether we (as the Seller’s agent) have accepted your offer to purchase the Lot. In case we are unable to do this, or you are not able to access the Website or if for any reason you are unsure, you are strongly advised to contact us at info@makersarchive.pentagon.studio or +44 (0)20 7099 7114 as soon as possible after the end of the Online Auction in order to find out whether you have submitted the Winning Bid and whether your offer to purchase the Lot has been accepted. Until you have received confirmation from us that we have accepted your offer to purchase the Lot at the Hammer Price from the Seller, neither we nor the Seller are obliged to sell the Lot to you.

10.3. Once you have received confirmation that the Seller has accepted your offer to purchase the Lot at the Hammer Price, you will:

10.3.1. provide us with the following information promptly at our request: your name and permanent address and details of how the payment will be made; and

10.3.2. pay us: (i) (as agent for the Seller) the Hammer Price for that Lot, and if applicable, VAT; and (ii) the Buyer Premium together with VAT (if applicable), and you must make your payment in full within 7 days after the Date of Sale. You may make payment by credit or debit card (Visa or MasterCard) or by wire transfer in GBP (we can only accept payments in GBP).

10.4. From time to time, we may offer free or discounted shipping deals on the Website. Whether or not we offer such deals, the countries to which they relate, and for how long we extend such offers is entirely at our discretion, and we may withdraw or change those deals by updating the relevant section of the Website as we see fit.

10.5. Subject only to Clause 10.4 above, it is your responsibility to arrange and bear the cost of:

10.5.1. collection of the Lot from us, including all packing, carriage and delivery charges; and

10.5.2. all necessary export licences, import licences and/or other permissions (if any) that you may require for your use, transport and/or shipping of the Lot. Failure to obtain any necessary licences or permissions shall not excuse your obligation to make payment under these Terms.

10.6. Import VAT for instruments imported from outside, and remaining within, the EU are 5% if over 100 years old or 20% if under 100 years old.

10.7. Title to the Lot shall pass to you on payment in full of all amounts referred to in Clause 10.3 in cleared funds. Risk shall pass to you on collection of the Lot from us or, if sooner, 7 days after the end of the Online Auction for the relevant Lot.

10.8. You accept that we are not under any obligation to deliver up the Lot to you until payment in full of all amounts referred to in Clauses 10.3 and 10.7.

10.9. Our premises are not designed or intended to be used as long-term storage solutions. If you fail to collect your purchased item(s) within 7 days after the end of the Online Auction for the relevant Lot, whether or not payment has been made under Clause 10.3, you shall pay us a fee of £2 per day for every day that the Lot remains uncollected beyond such 7-day period to cover our costs for storing the Lot.

11.1. If you are an individual acting for purposes which are wholly or mainly outside your trade, business, craft or profession and you buy a Lot from a Seller who is acting for purposes relating to the Seller’s trade, business, craft or profession, you may cancel your purchase of the Lot any time within 14 days beginning on the day after you come into physical possession of the Lot by: (i) using the model cancellation form which can be found at the end of these Terms (but this is not obligatory); (ii) writing to us at The Granary, Llancayo Court, Usk, Monmouthshire, NP15 1HY; or (iii) emailing us at info@makersarchive.pentagon.studio.

11.2. If you exercise your right to cancel your purchase, please return the Lot to us promptly (and in any event within 14 days of you notifying us of cancellation) in the same condition you received it (at your own cost and risk). We will provide you with a refund on behalf of the Seller within 14 days of our receipt of the returned Lot (or evidence that you have returned it). If any Lot is damaged, or we reasonably believe you have tampered with it, we may deduct an amount from any refund due to you up to the total price you paid for the Lot.

12.1. If, as Buyer, you fail to make payment within 7 days after the Date of Sale, we shall be entitled (in addition to any rights and remedies that we and/or the Seller may have under these Terms, at law or otherwise) to:

12.1.1. charge interest from the due date until the date of actual payment (whether before or after judgment) at the rate of 4% above the base rate
of C. Hoare & Co from time to time, such interest to accrue on a monthly basis and to be compounded quarterly;

12.1.2. set-off the overdue amount against any liability or amount that we owe to you at the relevant time;

12.1.3. exercise a lien on any of your property which may be in our possession, and if the overdue amount remains unpaid 14 days after the date of our notice to you informing you that payment is overdue, we shall be entitled to sell such property and apply the proceeds towards discharge (or partial discharge) of the overdue amount;

12.1.4. cancel the sale of the Lot to you;

12.1.5. cancel the sale of any other Lots to you for which you have yet to make payment (whether or not payment is overdue); or

12.1.6. at our discretion, arrange to sell the Lot to a third party whether through another Online Auction or otherwise, and, if the price achieved on
that sale is lower than the Hammer Price from your Winning Bid, we shall have the right to claim the difference from you, together with all costs
incurred by us and the Seller as a result of your failure to make payment.

12.2. If you owe us amounts in respect of different Winning Bids, we may, at our discretion, apply any amount that we receive from you to discharge any amount owed in respect of any particular Winning Bid.

In this section, “you” and “your” means the Seller.

13.1. You appoint us as agent to sell the Lot on your behalf through our Online
Auction.

13.2. Our representative conducting the auction is the auctioneer (“Auctioneer”).

13.3. The Auctioneer shall be solely responsible for the regulation and control of the Online Auction, and shall run Online Auctions in accordance with these Terms.

13.4. In consideration of us providing the Auction Services, you will pay us the Seller’s Commission together with VAT, payment to be made in accordance with Clause 13.7.

13.5. You will deliver the Lot to us on the delivery date that we agree with you, and you will bear all packing, shipping, transit and insurance costs, customs duties and agreed restoration costs, all agreed examination fees and expert fees and expenses, and all costs of storing the Lot up to the date falling 7 days after the end of the Online Auction, together with VAT (“Additional Expenses”).

13.6. We will not include any Lot in an Online Auction until we have received delivery of the Lot from you.

13.7. Unless Clause 21 applies, we will account to you for the Hammer Price from the sale of your Lot through our Online Auction, having first deducted and retained:

13.7.1. the Seller’s Commission;

13.7.2. all Additional Expenses that we have incurred in connection with yourLot;

13.7.3. any other amounts owed by you to us that are due and payable; and

13.7.4. all applicable VAT on the above, (the “Net Hammer Price”).

We will pay the Net Hammer Price to you 35 days after the Date of Sale, or if later, 7 days after we receive payment from the Buyer for the relevant Lot.

We may, at our discretion, make available on the Website functionality (a “Cost Calculator”) to assist you in estimating the Seller’s Commission, VAT, and/or import or export duties that may payable in respect of the sale of a Lot through an Online Auction (“Costs of Sale”) You acknowledge and agree that the Cost Calculator is intended to provide an indicative calculation only of the Costs of Sale, and that the actual Costs of Sale may vary from the result generated by the Cost Calculator. Accordingly, we will not be liable (whether in contract, tort (including negligence) or otherwise for any discrepancy between the output of the Cost Calculator and the actual Costs of Sale that you incur.

15.1. We will agree with you the Reserve, which may be higher than the starting bid but, subject to Clause 19.7, shall not exceed the low estimate for that Lot published on the Website.

15.2. We may agree the Reserve with you in a currency other than pounds sterling (“Non-Sterling Reserve”), in which case the Reserve shall be the pound sterling equivalent of the Non-Sterling Reserve determined on the business day immediately preceding the date on which the Online Auction ended using the closing exchange
rate of C. Hoare & Co.

We will not publicise the Reserve on the Website or otherwise.

15.3. We may, at our discretion, sell the Lot for a sum less than the Reserve provided that we shall account to you for the difference between the actual sale price and the Reserve.

15.4. We may bid on your Lot up to an amount equal to the Reserve. You may not bid on your Lot under any circumstances, nor may you permit any person to bid on your Lot on your behalf.

16.1. You warrant to us and to the Buyer that:

16.1.1. you are the sole owner of the Lot submitted by you for sale through our Online Auction and that you have full right, title and authority to sell the Lot;

16.1.2. you have no reason to believe that the Lot is a Forgery;

16.1.3. all Lots sold by you through our Online Auction are sold to the relevant Buyer with full title guarantee and free from all encumbrances;

16.1.4. you have provided to us all of the relevant information and documents in your possession or control concerning the Lot, including information about its authenticity, history, condition, prior ownership and all such information is complete and accurate to the best of your knowledge;

16.1.5. you have given us notice in writing of any information (written, oral or otherwise) expressing any concern as to the ownership or authenticity of the Lot;

16.1.6. there is no restriction on our right to make Images of the Lot or to use those Images as we see fit, whether in connection with promoting the Lot, the relevant auction or the Amati business generally;

16.1.7. if the Lot has been removed from a country outside the European Union all duties and taxes on the export and import of the Lot have been paid, all export and import declarations have been properly made;

16.1.8. you will pay any and all taxes and/or duties that may be due in connection with the sale of the Lot;

16.1.9. you have given us notice in writing of any material alterations to the Lot of which you are aware; and

16.1.10. you may not withdraw the Lot from an Online Auction without our consent.

16.2. If you withdraw a Lot from an Online Auction without our consent, you will pay to us an amount equal to 15% of the Lot’s estimate (pursuant to Clause 6.7) within 14 days of such withdrawal. We shall be entitled to set-off such amount against any liability or amount that we owe to you at such time, in order to compensate us for time and materials spent preparing the Lot for and listing the Lot in the Online Auction.

16.3. If you are acting for purposes relating to your trade, business, craft or profession, you must comply with the Buyer’s right to cancel pursuant to Clause 11. If the Buyer of your Lot chooses to exercise their right to cancel, you agree that we shall be entitled to account directly to the Buyer for any applicable refund and we shall account to you (in accordance with Clause 13.7) for any sums retained on account of the Lot being damaged or tampered with by the Buyer.

16.4. You will indemnify us and the Buyer in full on demand against all claims, costs or expenses incurred by us or the Buyer as a result of any breach by you of any of the warranties or obligations contained in this Clause 16.

We may take photographs, video and/or produce images of a Lot (“Images”) (and/or authorise others to do so on our behalf). We will own all intellectual property rights in Images and may use Images for any purpose whatsoever.

18.1. All Lots held by us are covered by insurance against risk of fire, burglary, water damage and accidental damage except to glass or damage caused by woodworm or change in atmospheric conditions. For this facility we will charge you 1.5% plus VAT of the Hammer Price for the applicable Lot or the value the Lot might have achieved as assessed by the Auctioneer. The value of the Lot shall be the net proceeds of the sale or the assessed value net of charges.

18.2. Subject to Clause 18.1, risk in the Lot remains with you at all times until risk passes to the Buyer pursuant to Clause 10.6. You will indemnify us and our employees and agents, and the Buyer (where applicable) (“Indemnified Parties”) against all losses, damages, claims, costs and expenses suffered or incurred by an Indemnified Party as a result of any claim in respect of the Lot or the proceeds of sale of the Lot.

19.1. If at the end of the Online Auction, your Lot is unsold (other than because we withdrew it pursuant to Clause 7.4), the Lot may be automatically added to the After Sale List.

19.2. A Registered Bidder may contact us and offer to purchase a Lot from the After Sale List. If the Registered Bidder’s bid exceeds the Reserve, we may authorise the sale of your Lot without contacting you and the sale will be completed as if the Lot had been sold in the Online Auction. If the Registered Bidder’s offer is less than the Reserve, we will contact you to discuss whether you wish to proceed with the sale. If you wish to proceed, we will request confirmation in writing from you to that effect, and the sale will then be completed as if the Lot had been sold in the Online Auction.

19.3. You may contact us at any time after the Online Auction has ended to remove your Lot from the After Sale List. Removal of your Lot from the After Sale List will not be confirmed until you have received written confirmation from us to that effect. If your Lot is not removed but remains unsold after 30 days of the After Sale List being published, we will automatically remove it and notify you.

19.4. Within 30 days after the date of your notice to us, or of our notice to you, in accordance with Clause 19.3, you may elect either to re-enter the Lot into another Online Auction in accordance with these Terms, or to collect the Lot from us.

19.5. If you elect to collect the Lot from us, you will bear all associated cost, expenses and duties.

19.6. Our premises are not designed or intended to be used as long-term storage solutions. If a Lot has not been collected within 30 days after the date of the notice referred to in Clause 19.3, you shall pay us a fee of £2 per day for every day that the Lot remains uncollected beyond such 30-day period to cover our costs for storing the Lot. We will not be under any obligation to deliver up the Lot to you until you have paid all outstanding amounts.

19.7. If the Lot has not been collected within 60 days after the date of the notice referred to in Clause 19.3, you authorise us to dispose of the Lot as we see fit and that we may sell it (as your agent) by Online Auction subject to these Terms, save that we may apply such estimate and reserve as we think fit. Following such sale, we shall account to you for the Net Hammer Price in accordance with these Terms.

20.1. If we withdraw a Lot pursuant to Clause 7.4, we will notify you in writing and you will arrange to collect the Lot from us, collection to be made no later than 30 days after the date of our notice.

20.2. If a withdrawn Lot remains uncollected more than 30 days after the date of our notice under Clause 20.1, then you shall pay us a fee of £2 per day for every day that the Lot remains uncollected beyond such 30-day period. We will not be under any obligation to delivery up the Lot to you until you have paid all outstanding
amounts.

21.1. Subject to the remainder of this Clause 21, a sale shall be cancelled and, subject to the provisions of this Clause, the Buyer shall be entitled to a refund of both the Hammer Price and the Buyer Premium if a Lot bought by the Buyer through our Online Auction is shown to our satisfaction to be a Forgery.

21.2. Within 90 days after the Date of Sale of the relevant Lot, the Buyer shall notify us in writing that the Buyer has reason to believe that the Lot is a Forgery.

21.3. As soon as reasonably practicable (and in any event within 14 days after the date of the Buyer’s notice under Clause 21.2):

21.3.1. the Buyer shall return the Lot to us in the same condition as at the Date of Sale; and

21.3.2. provide us with written evidence to support the Buyer’s assertion that the Lot is a Forgery.

21.4. Any cancellation of the sale and refund under this Clause is conditional upon the Buyer having good title to the Lot free from third party claims and having not encumbered the Lot in any way on or after the Date of Sale.

21.5. We shall not be obliged to cancel the sale or refund any amounts if:

21.5.1 the description of the Lot on the Website was consistent with the
generally accepted opinion of experts at that time;

21.5.2. the description of the Lot on the Website gave a fair indication that
there was a conflict of opinions as to the authenticity of the Lot; or

21.5.3. the only means of demonstrating that the Lot is a Forgery are through either a scientific process not generally accepted for use until after
publication of the description of the Lot on the Website or a through process which at the date of the auction was unreasonably expensive or
impracticable or likely to have caused damage to the Lot.

21.6. We shall not under any circumstances be required to refund the Buyer any more than the amount paid by the Buyer for the Lot concerned and the Buyer shall have no claim for interest.

21.7. The Buyer may not assign the benefit of this refund guarantee.

21.8. We shall be entitled to rely on any scientific or other process to establish that the Lot is not a Forgery.

21.9. If we are satisfied that the Lot is a Forgery, then we shall:

21.9.1 notify the Buyer and the Seller in writing;

21.9.2. within 14 days of our notice, refund to the Buyer the Buyer Premium paid by the Buyer to us in respect of the Lot; and

21.9.3. follow the process under Clause 21.10 to obtain from the Seller a refund of sums paid to the Seller in respect of the Lot.

21.10. In circumstances where the Buyer is entitled to a refund under this Clause 21, and, where payment has already been made to the Seller in respect of that Lot:

21.10.1. the Seller shall refund to us (to hold for the Buyer), on demand, the
total amount paid to the Seller for the relevant Lot following sale
through the Online Auction; and

21.10.2. until the Seller makes the refund, we shall exercise a lien over any property of the Seller under our control as security for the amount of the refund due. If the Seller fails to pay the refund within 14 days after the date of our written notice, we shall be entitled to sell such property and apply the proceeds towards discharge of the amount owed.

21.11. The Buyer acknowledges that, in certain circumstances, it is possible that we may not receive a full refund from the Seller. For example, the Seller may have become bankrupt or insolvent, or it may be disproportionately difficult or costly to pursue the Seller for payment. While we will use our reasonable endeavours to obtain a full refund or, in the event that we exercise our rights under Clause 19.7 above to sell the property, we will use our reasonable endeavours to achieve a reasonable price for it, the Buyer acknowledges and agrees that there may be a shortfall between the amount refunded or realised, and the Hammer Price paid by the Buyer. We will only be obliged to pay the Buyer the amount refunded or realised, and will not in any event be obliged to pay the Buyer any shortfall. We will pay to the Buyer the amount refunded or realised within 21 days of receipt of the refund from the Seller, or 21 days of receiving the amount realised, as the case may be.

21.12. The Seller shall bear all packing, shipping, transit, storage and insurance costs incurred by us and/or the Buyer in connection with the return of the Lot to us under Clause 21.3 and our storage of the Lot pending collection of the Lot by the Seller.

Every person on our premises (whether to inspect a Lot pursuant to Clause 6.5, to deliver or collect a Lot, or otherwise) shall be deemed to be there at their own risk and, subject to Clause 24.2, shall have no claim against us in respect of accident or
loss, however caused.

21.1. If a party to these Terms is prevented, hindered or delayed from the performance of any of its obligations under these terms (“Affected Obligations”) by Force Majeure, that party (the “Claiming Party”) shall as soon as reasonably possible and in any event within 5 days after commencement of the Force Majeure serve notice in writing on the other relevant party or parties specifying the nature and extent of the Force Majeure.

21.2. The Claiming Party shall have no liability in respect of any delay in performance or any non-performance of an Affected Obligations save for any payment obligation which shall continue in full force and effect. The time for performance of an Affected Obligation shall be extended to the extent that the delay or non-performance is due to Force Majeure.

21.3. The Claiming Party shall take reasonable steps (without being obliged to incur any expenditure or cost) to mitigate the effect of the Force Majeure on the performance of the Affected Obligations.

24.1. Save as expressly set out in these Terms, we and the Seller exclude to the fullest extent permitted by law all warranties and conditions, whether express or implied by statute, common law or otherwise.

24.2. Nothing in these Terms shall operate to exclude or limit the liability of a party in respect of death or personal injury resulting from that party’s own negligence, for fraud or for any liability that cannot be excluded or limited under applicable law.

24.3. No party to these Terms shall be liable to any other in contract, tort (including negligence) or otherwise for any indirect or consequential losses, or for any loss of profits, loss of goodwill, loss of revenue, loss of business or loss of anticipated savings.

24.4. Subject to Clauses 24.2 and 24.3, our liability to you or any Registered Bidder, Buyer or Seller in contract, tort (including negligence, breach of statutory duty, misrepresentation or otherwise) or for any other cause of action arising by reason of or in connection with these Terms and/or that party’s use of the Auction Services shall not exceed a total aggregate amount equal to:

24.4.1 if you are a Registered Bidder, Buyer or Seller and your claim relates to a Lot sold through an Online Auction, £15,000 or the Hammer Price for the relevant Lot, whichever is greater; or

24.4.2. in all other circumstances, £5,000.

24.5. We will not be responsible or liable for errors and omissions to execute bids placed on-line, caused by:

25.5.1 a loss of internet connection;

25.5.2. a breakdown or interruption of the on-line bidding system; or

25.5.3. a breakdown or failure of any internet connection, computer or IT system.

These Terms are governed by and interpreted in accordance with the laws of England and Wales (or the laws of Scotland or Northern Ireland if you live there). If you choose to bring proceedings in connection with these Terms you must do so in the courts of England and Wales, unless you live in Scotland, in which case you can choose to bring proceedings there, or in Northern Ireland, in which case you can choose to bring proceedings
there.

English is the only language in which these Terms are offered.

All or any part of any term of these Terms that is found to be unfair or unenforceable by a court of competent jurisdiction will be treated as deleted and the remainder of the Terms will continue to govern each of our respective obligations.

28.1. Any notice from you to us must be sent in writing to us at the address set out in Clause 1.1 above.

29.1. These Terms are personal to you and no third party is intended to benefit under
these Terms.

29.2. These terms do not create or confer any rights or benefits under the Contracts (Rights of Third Parties) Act 1999 on any person who is not a party to these terms.

Part 1

In these Terms, the following words and expressions shall have the following meanings, unless the context requires otherwise:

Part 2

In these Terms, (except where the context otherwise requires):

the singular includes the plural and vice versa, references to a person include any individual, firm, company, corporation, government, state or agency of a state or any association, trust, joint venture, consortium or partnership (whether or not having a separate legal personality); references to “written” or “in writing” include faxes and email and other electronic formats; the words “including” and “in particular” and any similar words or expressions are by way of illustration and emphasis only and do not operate to limit the generality or extent of any other words or expressions; references to “Clauses” refer to clauses of these Terms; and the headings are for convenience only and do not affect the interpretation of these
Terms.

The following model cancellation form should only be used if you are entitled to a statutory right to cancel as described in Clause 11.

(Complete and return this form only if you wish to withdraw from the contract)

To: Amati Instruments Limited, The Granary, Llancayo Court, Usk, Monmouthshire, NP15 1HY,
email: sarah@makersarchive.pentagon.studio

I/We [*] hereby give notice that I/We [*] cancel my/our [*] contract of sale of the following
goods [*]

Ordered on [*]/received on [*]:

Name of consumer(s):

Address of consumer(s):

Signature of consumer(s) (only if this form is notified on paper):

Date:

[*] Delete as appropriate