Terms and Conditions

In an ideal world we wouldn’t need this document but we do. Please take time to read it carefully before entering into any Agreement.

These Terms and Conditions are subject to amendments agreed between us in writing only, and once you have signed our Forms of Acceptance they shall form the contract between you and us (the “Agreement”).

Terms & Conditions

Sellers

This Agreement is between “you” as seller of one or more works of Art, each as separately described in the Sale Agreement and us, Modern British Art Collector Limited (“we” or “us”).

You agree that, as the seller, you solely own the work of Art or are duly authorised to arrange for the sale of the item, and to enter into this agreement.

You warrant that the information you provide regarding the work’s authenticity, provenance and condition is accurate. Should you misrepresent this information then you will liable to any costs related to our Authentication guarantee.

If the item has been moved to the European Union you warrant that it has been lawfully imported with all duties paid.

You hereby appoint us as your agent for the purpose of negotiating and selling your work of Art. Unless otherwise agreed we will be appointed as the sole and exclusive agent.

In order for us to market your item, you may need to pay our associated costs including, but not limited to, photography costs, costs relating to authentication, any repair work carried on your behalf, and any associated handling costs unless, at our sole discretion, we agree to waive any such fees or collect such fees from the sale proceeds. We will inform you of all such costs as they arise. Any such costs and/or fees are payable to us on demand.

As sellers you authorise us as your agent to determine the achievable price for your Property based on the advise of experts and auction data. You do not have to accept this price but equally we do not have to market your property at a price we feel is unjustified.

If we accept an offer at a price which you have confirmed that the Property is available at then you will be obliged to proceed. If you seek to terminate such a transaction then you will be liable to pay our fees and any related costs.

As your agent we will form a binding contract between you and your counterparty who both agree to the terms laid out in the Sales Memorandum. You will contract directly with your Counterparty.

We will collect all sales proceeds on your behalf from the buyer. You authorise us to issue invoices to buyers on your behalf. We will remit all sales proceeds within 5 days of receipt, less our agreed commission fees as published on our website and restated in the Sales Agreement, and any related costs.

These Terms and Conditions will apply to all arrangements between you and us until either party terminates this Agreement in accordance with the related clause below.

Buyers

This Agreement is between “you” as buyer of one or more works of Art, and us, Modern British Art Collector Limited (“we” or “us”), acting as your search agent and buying agent of one of more works of Art, each as separately described in any Search Agreement.

In order for us to acquire an item on your behalf, you may need to pay our associated costs including, but not limited to, costs relating to an initial inspection and any associated handling costs unless, at our sole discretion, we agree to waive any such fees or collect such fees from the sale proceeds. We will inform you of all such costs as they arise. Any such costs and/or fees are payable to us on demand.

The condition of works of Art can vary widely due to factors such as age, restoration and repairs. All items are purchased ‘as is’ and we recommend buyers inspect all works prior to purchase.

Modern British Art Limited employs experts to prepare reports regarding the condition, authenticity and art historical relevance of works for sale and we warrant that these works are authentic (our Authentication guarantee). Our liability is limited to the price paid.

As buyers you authorise us to act as your agent. If we make a firm written or emailed offer at a price which you have confirmed then you will be obliged to proceed. If you seek to terminate a transaction then you will be liable to pay our fees and any related costs.

As your agent we will form a binding contract between you and your counterparty who both agree to the terms laid out in the Sales Memorandum. You will contract directly with your Counterparty.

Payments for purchases are due within 14 days of written completion of negotiations. Goods will not be physically delivered until full payment has been received by us. Indeed wherever their whereabouts items will remain the property of the vendor until full payment has been received.

We presume that you are not registered for VAT. If you are registered for VAT you must inform us.

These Terms and Conditions will apply to all arrangements between you and us until either party terminates this Agreement in accordance with related clause below.

Termination

Either party may terminate this Agreement at any time. If you terminate this Agreement, you agree to honour any outstanding invoices. Should you subsequently buy or sell items previously listed by British Art Collector to a counterparty who had previously registered with us then you must inform us. All fees that would have been due, would remain due unless at our sole discretion we elect to waive such fees.

In the event that this Agreement is terminated while any fees or charges whatsoever are outstanding to us then you must pay all outstanding fees or charges to us immediately.

We will be entitled to terminate this Agreement immediately if:

  • you are in material breach of any of the terms of this Agreement; or
  • you do anything to put our goodwill or reputation at risk; or
  • you refuse to allow a transaction to proceed after an agreement has been made.

In the event of termination the terms of this Agreement will continue in full force, so far as such terms relate to existing transactions or the consequences of any previous transactions (including terms relating to fees, commission and expenses, liability and damage).

Our Liability to You

We accept liability for damage, loss and theft of any item whilst in our possession. We will not be liable for any damage, loss or theft which is not recovered under our insurance policy, a copy of which is available upon request. You are entitled to obtain additional cover at your own expense.

We will not be liable to you for any consequential or indirect loss such as lost reputation, lost bargain, lost profit or lost opportunity arising as a result of the services we provide to you (whether suffered or incurred as a result of our negligence or otherwise).

General

We may use employees or self-employed contractors and we shall have discretion as to which of our employees or subcontractors are assigned to perform any services we provide to you.

This Agreement is personal to you and may not be assigned.

We will not be liable to you or be deemed to be in breach of these terms by reason of any delay in performing, or any failure to perform, any of our obligations, if the delay or failure was due to any cause beyond our reasonable control.

We acknowldege your statutory rights under the Data Protection Act 1984 and 1998. Unless we have your express consent we will only disclose personal data to third parties if this is required for the purpose of completing your transaction with us. We may also disclose your data to certain permitted third parties, such as your solicitors, members of our own group, our own professional advisers who are bound by confidentiality codes, and when we are legally obliged to disclose your data.

These conditions are governed by the laws of England and Wales. You agree, as we do, to submit to the exclusive jurisdiction of the English courts.

Modern British Art Collector is a UK limited company trading under the name ‘British Art Collector’. The company’s registered address is 76 Lansdowne Road, London W11 2LS. The company registration number is 10387343.