Common use of Descriptions and Estimates Clause in Contracts

Descriptions and Estimates. 1.3.1 when providing a Standard Examination or Specialist Examination, we will normally provide an Estimate. An Estimate is only an expression of our opinion of the range within which we think the Hammer Price for the Lot at the Sale is likely to be. It is not an estimate of value. It does not take account of any VAT or Buyer’s Premium payable. Lots can in fact sell for Hammer Prices below and above the Estimate. Any Estimate should not be relied on as an indication of the actual selling price or value of a Lot; 1.3.2 anything stated or represented by us or on our behalf in any Description in relation to the authorship, attribution, condition, provenances, history, background, authenticity, style, period, age, suitability, quality, roadworthiness, origin, value, or future selling price (including the Hammer Price) of any Lot or by any Estimate given in relation to it, whether in the Catalogue or on our Website or otherwise, and whether made orally or in writing, is only an expression of our opinion; 1.3.3 any Descriptions, Estimates or opinions given by us or on our behalf will be honestly given, using such skill and care as is reasonable having regard to the extent of that visual examination in the Standard Examination (or, if relevant, Specialist Examination) of the Lot and any information about the Lot you have given us or we may have obtained about it. If you are selling the Lot in the course of a Business, we will be entitled to rely entirely upon the Description of the Lot given by you or on your behalf in any opinion or Description or any Estimate we give; 1.3.4 save that any Description, Estimate or opinion is honestly given with the degree of skill and care referred to in paragraph 1.3.3, we neither make nor agree to make any contractual promise, undertaking, obligation, guarantee, warranty or representation of fact in relation to any such Description, Estimate or opinion or in relation to the accuracy of anything stated in or represented by any expression of that Description, Estimate or opinion; 1.3.5 any statements or representations contained in any Description or any Estimate may be changed by us at any time until the Lot is sold (and will be, if we alter our opinion after it has been given); 1.3.6 if you wish us to provide a formal valuation of any Lot, you will need to request this, and enter into a separate agreement with us specifying, in detail, the purposes for which the valuation is required and providing us with greater information in relation to the Lot than is contained in the Contract Form. As this is an additional service (in addition to our acting as your agent to sell your Lot), we will make a further charge for undertaking any valuation.