Conditions of Sale for Bidders
Online Auctions – Third Party Consignments
The Royal Mint Limited (The Royal Mint, we, us and our) carries on business with bidders (Bidders, you and your) in connection with a sale to the highest Bidder (Buyer), via an online auction process (Auction), on the following Conditions of Sale (Conditions). For the avoidance of doubt, any reference to Bidder includes the Buyer.
The Auction will be hosted on The Royal Mint’s website via a platform provided by Bidpath Limited (Platform). Any personally identifiable data about you which The Royal Mint collects will be treated in accordance with its Privacy Policy. Please also find Bidpath’s Privacy Policy here, for information on how they may collect and process your personal data. For the purposes of your personal data, The Royal Mint is the controller, and Bidpath is the processor – which means that The Royal Mint determines the purpose and scope of processing personal data, and that Bidpath acts on The Royal Mint’s instructions in relation to that purpose and scope.
These Conditions are those under which The Royal Mint will act as auctioneer and provide auctioneering services, as part of which it will offer Bidders, by way of the Auction, the opportunity to purchase the product(s) listed for sale by or on behalf of third party sellers (each a Seller) on the Platform (each a Product). This means that The Royal Mint is acting as an agent for the Seller, and that the contract of sale of the Product is between the Seller and the Buyer – and not between The Royal Mint and the Buyer.
Please note that these Conditions do not therefore apply to the sale of The Royal Mint products on the Platform. For the terms and conditions which apply to such sales, please refer to the following version below. If you are unsure as to which terms and conditions apply, please check the relevant lot details on the Platform, or otherwise contact us on the details below.
Bidders will be deemed to have accepted these Conditions and agreed to be bound by them, along with our Terms of Use (available here), when they partake in an Auction.
- Definitions
1.1 In these Conditions:
Auctioneer means The Royal Mint or its authorised online auctioneer or auction platform provider, as appropriate.
Hammer Price means the level of bidding reached (at or above any reserve) when the Auctioneer brings down the hammer.
Proof of Address means a utility bill or a bank/credit card statement dated within the last three (3) months.
Proof of Identity means a valid passport, photo card driving licence, firearms certificate or identity card issued by the Electoral Commission of Northern Ireland belonging to the bidder.
VAT means value added tax.
1.2 The singular includes the plural and vice versa as appropriate.
- Information about us
2.1 We are a government-owned company.
2.2 The following information is required by the Electronic Commerce (EC Directive) Regulations 2002:
2.2.1 The Platform is provided by The Royal Mint Limited whose registered office is at Llantrisant, Pontyclun, CF72 8YT, United Kingdom (our premises), registered in England and Wales No. 06964873.
2.2.2 Our email address is auction@royalmint.com.
2.2.3 Our VAT registration number is GB 256 5227 96.
- Eligibility and Registration
3.1 By entering the Auction, Bidders warrant that they are:
3.1.1 legally capable of entering into binding contracts;
3.1.2 not a resident of a restricted country or region listed on The Royal Mint’s website (https://www.royalmint.com/help/account/international-customers/); and
3.1.3 at least 18 years old.
3.2 There is no fee payable to enter the Auction, however a refundable deposit may be payable in accordance with clause 4.
3.3 Bids shall only be accepted from Bidders who have registered to take part in the Auction, and who have satisfied any necessary due diligence checks in accordance with clause 6.
3.4 To register, Bidders must register their interest at https://auction.royalmint.com/login. Bidders will then be sent a link to create an Auction account with The Royal Mint. Please note that the Auction account will be separate to any other account held by Bidders with The Royal Mint.
- Deposit
4.1 Following registration, and before being able to bid in the Auction, Bidders may be required to pay to The Royal Mint a refundable deposit by bank transfer (Deposit). If a Deposit is required, The Royal Mint will inform Bidders of this, and the amount of the Deposit, in advance of registration.
4.2 Bidders agree to bear, and that The Royal Mint will not be responsible for, any fee charged by a bank or building society for the payment of the Deposit or any subsequent payment in accordance with clause 11.
4.3 In the event that, in accordance with clause 5, a Bidder is:
4.3.1 not successful in winning the bid for the Product, the Deposit will normally be returned to the Bidder to the bank account elected by them under the due diligence process in clause 5 within 3 – 5 working days of the Auction date (or such other time as we agree with you); or
4.3.2 successful in winning the bid for the Product, the Deposit will be deducted from the total price due for the Product (including any VAT, buyer’s premium and/or seller’s commission, where applicable), in accordance with clause 11.
- Bidding Procedure
5.1 Once their account has been registered as above, Bidders will be required to click on “REGISTER TO BID” on the Platform, before being able to bid for the relevant lot (Lot). Bidders will be required to verify their identity, in accordance with clause 6, via the Platform prior to placing any bid.
5.2 Once Bidders have registered, they will then be able to enter an early bird (i.e. absentee) bid, or wait for the auction to begin.
5.3 Bidders may bid for a Lot by clicking the Bid button. Each bid shall be final and binding once Bidders click the Bid button.
5.4 Bidders acknowledge and accept that each bid submitted in the Auction is irrevocable and cannot be amended or corrected, even if submitted in error and/or notified to The Royal Mint.
5.5 Bidders accept full liability for all bids submitted via the Platform.
5.6 The highest Bidder accepted will be the Buyer of the Product at the Hammer Price and any dispute will be resolved at The Royal Mint’s and/or the Auctioneer’s (as applicable) absolute discretion.
5.7 Where two (2) or more bids at the same level are recorded, The Royal Mint and/or the Auctioneer reserve the right in its/their absolute discretion to prefer the first bid so made.
5.8 The Royal Mint and/or the Auctioneer reserve the right to disable or deactivate your account, reject any bid, withdraw the Product, and/or cancel the Auction or Lot at any time prior to or during the sale of the Product (Sale), at our absolute discretion, and without any liability to you.
5.9 All Lots are subject to a minimum reserve, being a confidential amount under which a Lot will not be sold. We reserve the right to lower such reserve of any Lot, in our absolute discretion, at any point prior to or during a Sale.
5.10 Every Bidder will be deemed to be acting as principal unless The Royal Mint provides advance written acknowledgement that the Bidder is acting as agent on behalf of a named third party.
5.11 The Royal Mint reserves the right, in the event of a Buyer failing to satisfy any requirement under these Conditions, to offer the option of purchasing the Product to the next highest Bidder (and so on) on the terms of these Conditions.
- Due Diligence Checks
6.1 Bidders agree to The Royal Mint carrying out certain credit and personal identity, source of funds, wealth and/or residency check for the purpose of anti-money laundering, identification and risk mitigation.
6.2 Bidders shall provide The Royal Mint with such documentation as it may require to satisfy these purposes. Bidders may also be required to provide evidence of their source of funds and wealth prior to purchasing the Product.
6.3 The Royal Mint reserves the right to carry out the above checks on Bidders prior to the Auction, and/or the Buyer once the Auction has been completed.
6.4 The Royal Mint may also require a reference or guarantee.
6.5 Bidders confirm that all information and documents provided to The Royal Mint during the registration process or at any time via the Platform or otherwise in relation to the Auction are up-to-date, complete, truthful, accurate and not misleading.
- Estimates and Minimum Increment
7.1 The Royal Mint and/or the Auctioneer may provide an estimated value of the Product, which does not include VAT, is intended to be a guide only, and is by no means definitive. The Royal Mint and/or the Auctioneer reserve the right to amend any estimate ahead of the Auction.
7.2 The Royal Mint and/or the Auctioneer reserve the right to refuse any bid, which is not at least the same or higher than the applicable minimum bidding increments above the previous bid value. The relevant increments and bid values:
7.2.1 will be notified to Bidders on the Platform ahead of and during bidding; and
7.2.2 are set at the sole discretion of The Royal Mint and/or the Auctioneer.
7.3 The Royal Mint and/or the Auctioneer reserve the right not to accept bids at below eighty per cent (80%) of the low estimate.
- Premium and Commission
Unless otherwise provided on the Platform or notified to Bidders, no buyer’s premium or seller’s commission will be payable or due under the Auction.
- Tax
9.1 Unless otherwise provided on the Platform or notified to Bidders:
9.1.1 the Product price is inclusive of VAT. Products marked with a ‘G’ are classified as Investment Gold, so a VAT-registered trader can submit a claim to HMRC to recover the VAT; and
9.1.2 the Buyer is responsible for accounting for all applicable tax (including VAT) due and payable in relation to a Sale.
- Notification of winning bid
We will aim to notify the Buyer of their winning bid, by e-mail, within 72 hours of the end of the Auction, following which we will arrange for all administrative requirements to be completed.
- Payment
11.1 On the fall of the hammer, the contract between the Seller and the Buyer is concluded.
11.2 We will provide the Buyer with an invoice, by e-mail, for the total amount due within 72 hours of the notification in clause 10 above, provided that any due diligence checks pursuant to clause 6 have been completed to our satisfaction within that time. If such checks fail, or there is an issue, we will contact the Buyer through their preferred communication method to try to resolve the issue.
11.3 The Buyer is obliged to make immediate payment, via bank transfer, to The Royal Mint for the total amount due under the invoice (unless credit terms have been agreed with The Royal Mint in writing in advance). In the event that The Royal Mint has not received payment in full from the Buyer within 30 calendar days of the close of the Auction, or as otherwise specified in the invoice, The Royal Mint reserves the right to cancel the Sale without any notice to the Buyer.
11.4 The Royal Mint:
11.4.1 does not accept cash payments;
11.4.2 will only accept payment for the Product from the bank account elected by the Buyer under the due diligence process in clause 6; and
11.4.3 may, at its absolute discretion, agree terms with the Buyer in advance whereby the Buyer may take possession of the Product ahead of full payment at a predetermined future date.
11.5 These Conditions and the services we provide pursuant to them do not, and shall not, represent any sort of offer by us to purchase or sell the Product.
11.6 All payments to The Royal Mint made by the Buyer may be applied to any outstanding amounts owed by the Buyer, regardless of the express or implied instructions of the Buyer or his/her agent.
- The Buyer’s contract with the Seller
12.1 Once a Sale is concluded, a contract will be formed between the Buyer and the Seller under which the Buyer agrees to honour the Sale (Sale Contract).
12.2 The Buyer acknowledges and agrees that:
12.2.1 if the Buyer breaches any term of this Agreement or the Sale Contract, the Buyer may be responsible to the Seller and/or us for any resulting damages and/or losses suffered by the Seller and/or us (as applicable);
12.2.2 we may share the Buyer’s details with the Seller, to the extent necessary or relevant:
- to fulfil the terms of this Agreement and the Sale Contract; and
- as a result of any legal obligation;
12.2.3 we are acting as the Seller’s agent only for the purposes of the Sale; and
12.2.4 we are not acting on behalf of or giving advice to Bidders at any time.
12.3 We shall have no responsibility or liability for the acts and omissions of any Seller or, for the avoidance of doubt, any Bidder.
- Consumer rights
Right to cancel the Sale
13.1 If the Buyer is a consumer (being an individual acting for purposes which are outside his/her trade, business, craft or profession) and habitually lives in the United Kingdom or the European Union, the Buyer may have consumer and other statutory rights (including the right to cancel the Sale pursuant to the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013) in relation to the Seller (if the Seller is considered a trader for the purposes of the applicable legislation).
13.2 In such circumstances, the Buyer may cancel the Sale at any time within 14 calendar days, beginning on the day after the Buyer (or someone they have nominated) receives the Product. In this case, the Buyer will receive a full refund of the full original purchase price paid for the Product along with the delivery charges paid (except for supplementary costs arising if the Buyer chose a type of delivery other than the least expensive type of standard delivery offered by us), within 30 calendar days of the date the Buyer gave notice of their cancellation and returned the Product to us.
13.3 The Buyer will be responsible for the costs of returning the Product to us and this cannot be refunded unless the Product is confirmed to be damaged or sub-standard.
Right to cancel our services to you
13.4 If the Buyer is a consumer (as defined above) and habitually lives in the United Kingdom or the European Union, they have the right to cancel the contract for the services we provide to you in connection with your purchase of the Product, including the offer to participate in the Auction and view and bid on Lots, the facilitation of the Sale, and arranging the Delivery (Services Contract), but not the relevant Sale itself if you purchase the Product from a consumer Seller.
13.5 In such circumstances, the Buyer may cancel the Services Contract any time within 14 calendar days, beginning on the day the Services Contract is concluded (i.e. entered into by the parties).
13.6 By agreeing to these Conditions, you are requesting us to immediately to begin the performance of our obligations under the Services Contract during the 14-day cancellation period above.
13.7 If you cancel the Sales Contract, we will reimburse to you any payments received from you in respect of the Services Contract. However, you agree to pay us an amount (which we may deduct from any refund due to you) which is in proportion to what has been performed by us under the Services Contract until you have notified us of your cancellation of the Services Contract.
General
13.8 To cancel a Sale or the Services Contract (as applicable), the Buyer must inform us by writing to Collector Services Auction Team, PO Box 500, Pontyclun CF72 8BR, or email us at auction@royalmint.com. The Buyer may use the model cancellation form set out in the Annex to these Conditions, but this is not obligatory.
13.9 The Buyer must also, when cancelling a Sale, return the Product to us immediately by special delivery to The Returns Department, PO Box 500, Pontyclun CF72 8BR, in the same condition in which the Buyer received it, and at the Buyer’s own risk. The Buyer must take reasonable care of the Product while they are in the Buyer’s possession.
13.10 We may withhold the refund until we have received the Product.
13.11 We will usually refund any money received from the Buyer using the same method originally used by them to pay for their purchase, unless the Buyer agrees otherwise. We do not charge a fee for the refund.
13.12 We may reduce the amount of any refund if the Product is returned damaged or in an unacceptable condition.
13.13 Nothing in these Conditions affects the Buyer’s legal rights under the Consumer Rights Act 2015 (also known as ‘statutory rights’). The Buyer may also have other rights in law. For detailed information on your rights, please visit the Citizens Advice website at www.adviceguide.org.uk, or call 03454 04 05 06.
- Collection or Delivery of Product
14.1 Unless otherwise provided on the Platform or notified to Bidders, the Buyer will have the option to accept delivery or otherwise collect the Product purchased, in both cases within 30 calendar days of the date of the Auction, once payment in full has been made, unless prior credit terms have been agreed (Delivery). The cost of Delivery (if any) will be provided on the Platform or otherwise notified to Bidders ahead of bidding.
14.2 Any dates quoted for Delivery are approximate only, and the time of Delivery is not of the essence. We shall not be liable for any delay in Delivery of the Product that is caused by an Event Outside Our Control (as defined in clause 20.3). If we are unable to deliver the Product within 30 calendar days, we will notify the Buyer in writing of the delay. In the event of a significant delay in Delivery, the Buyer may cancel the Sale and receive a full refund.
14.3 We reserve the right to arrange for Delivery of the Product to be made directly from our third-party suppliers without our direct involvement in the Delivery process. In these circumstances, these Conditions will remain between the Buyer and us, and their rights will not be affected.
14.4 Unless as otherwise provided, Delivery is deemed to have taken place once you or a resident of the Delivery address provided has taken receipt of the Product and has provided his/her signature to evidence receipt but, if it is not possible to obtain a signature, Delivery shall be deemed to have taken place once confirmation as status delivered from our courier as evidenced by way of GPS, photographic or other suitable references.
14.5 The Buyer shall notify us within 30 calendar days of the advised Delivery date or the date of debit of your payments for the Product, whichever is later, in the event of non-receipt by the Buyer of the Product.
14.6 If the Buyer fails to take or accept Delivery of the Product then, except where such failure or delay is caused by an Event Outside Our Control or our failure to comply with our obligations under these Conditions, store the Product until Delivery takes place, and charge the Buyer for all related costs and expenses (including insurance).
14.7 Should the Buyer continue to fail to take Delivery of the Product, we may at our sole discretion resell or otherwise dispose of part or all of the Product without prejudice to any other remedy available to us. In such event we shall be under no obligation to obtain the best available price for the Product and shall account to the Buyer for the sale proceeds less all outstanding charges, costs and expenses.
- The Buyer is responsible for loss or damage to the Product from time of collection or Delivery. The Royal Mint, its employees and representatives are not responsible for any loss or damage, whatever the cause, while the Product is in the Buyer’s custody after this point.
- Risk and title
15.1 Responsibility of and risk in the Product shall pass to the Buyer on Delivery.
15.2 Title to the Product passes to the Buyer when we have received actual (and not pending) payment in full (in cash or cleared funds) for the Product and sufficient identification and information in accordance with clause 6 above.
15.3 We will act as an auctioneer for the purposes of the Auction and, as such, no title in the Product passes to or from us at any point.
15.4 We give no warranty or representation as to the Seller’s title to the Product.
15.5 Title to a product sent in error (Incorrect Product) remains with us and does not transfer to the Buyer on delivery. We will always check the relevant order before despatch however, if an error is obvious, unmistakable and/or could reasonably have been recognised by the Buyer as an error, we may request return of the Incorrect Product. If this is the case, the Buyer agrees to return the Incorrect Product to us in accordance with our reasonable instructions. Where we do request the return of the Incorrect Product, we will specify the method of return and reimburse the Buyer for the cost of the return, or alternatively arrange collection of the Incorrect Product at our expense. Whilst any Incorrect Product sent in error remains in the Buyer’s possession, the Buyer bears all risk in and responsibility for the Incorrect Product until it has been properly returned to, or collected by, us.
- Remedies for Late or Non-Payment
16.1 Subject to any consumer rights the Buyer may have in law (including those listed in clause 14 above), if the Buyer fails to pay in full and collect the Product, or fails to fulfil their obligations in any way, The Royal Mint and/or the Seller may, in addition to and without prejudice regarding other legal remedies, exercise one or more of the following remedies:
16.1.1 to proceed against the Buyer for damages for breach of contract;
16.1.2 to rescind the sale and that of any other Lots sold to the same Buyer in the same or any other auction;
16.1.3 to resell the Product either at public auction or by private sale, and pursue the Buyer for any deficiency in proceeds and to cover the costs and expenses and commissions due on both the original and the subsequent sale. Any surplus generated will belong to The Royal Mint and/or the Seller (as applicable);
16.1.4 to remove, store and insure the Product at the Buyer’s expense. The Product will be stored either at The Royal Mint’s premises or elsewhere;
16.1.5 to impose a late payment charge not exceeding three per cent (3%) per month on the total payment due from the date of the Auction, if the amount owing is unpaid five (5) working days after the Auction;
16.1.6 to hold back the Product and any other Lot sold to the Buyer at the same or any other Auction until the total amount due is paid;
16.1.7 to reject any bids made by or on behalf of the defaulting Buyer at any subsequent Auctions, or requesting a Deposit before allowing them to bid; and/or
16.1.8 to apply the proceeds of any sales by the Buyer towards settlement of the total amount due, and to exercise a lien on the property of the defaulting Buyer which The Royal Mint is holding for any purpose.
- Liability of The Royal Mint and the Auctioneer
Your attention is drawn in particular to this clause.
17.1 Nothing in these Conditions excludes or limits in any way the liability of The Royal Mint or the Auctioneer to you for:
17.1.1 death or personal injury caused by our negligence or the negligence of our employees, agents or sub-contractors (if applicable);
17.1.2 fraud or fraudulent misrepresentation; or
17.1.3 any other losses which cannot be excluded or limited by applicable law.
17.2 Neither The Royal Mint nor the Auctioneer accept responsibility, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, arising under or in connection with the Sale, for any:
17.2.1 loss of profits, sales, business, or revenue;
17.2.2 loss or corruption of data, information or software;
17.2.3 loss of business opportunity;
17.2.4 loss of anticipated savings;
17.2.5 loss of goodwill;
17.2.6 indirect or consequential loss;
17.2.7 any loss or damage caused by any bugs or viruses, and Bidders are advised to obtain their own virus, malware and other computer protection software;
17.2.8 any interruption in or failure, delay, error or unavailability of the Platform;
17.2.9 any neglect or default in executing or failing to execute bids whether through the Auctioneer or through any online bidding software, or where a bidding slip has been completed incorrectly; and
17.2.10 errors during or after the sale or failures to execute bids placed on the internet or on a Bidder’s equipment or mobile device, including, without limitation, errors or failures caused by any loss of connection to the auction being conducted online, a breakdown or problems with the online bidding software or the web site service provider and/or a breakdown or problems with any internet connection, computer, mobile device or system.
17.3 Bidders are advised to view the Product or request further details regarding the condition prior to the Sale. The Product is sold “as is”, with all faults, imperfections and modifications, and in the condition that it is in at the time of Sale, without any representation or warranty or assumption of liability of any kind as to condition by The Royal Mint.
17.4 Any images used on the Platform or other Auction materials are for illustrative purposes only. Whilst we try to display the colour and design of our Product accurately on our Platform, the actual colour and/or design you will see will depend on your device’s screen, and we cannot guarantee that your device’s display of any colour or design will accurately reflect the colour or design of the Product and/or packaging on delivery or storage.
17.5 The Royal Mint does not warrant that the Product will achieve any particular grade by third party grading services, and if the grading company does not reach a conclusion regarding authenticity then the opinion of The Royal Mint shall stand.
17.6 Subject to clause 17.1 and clause 17.2, The Royal Mint’s and the Auctioneer’s total liability to you in respect of all other losses arising under or in connection with these Conditions and the Sale, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall in no circumstances exceed the price of the Product at the point of Sale.
17.7 Except as expressly stated in these Conditions, we do not give any representations, warranties or undertakings in relation to the Product. Any representation, condition or warranty which might be implied or incorporated into these Conditions by statute, common law or otherwise is excluded to the fullest extent permitted by law. In particular, we will not be responsible for ensuring that the Product is for your purposes.
- Complaints
If you have any query, or in the event of a complaint, please contact our Customer Services Team at:
Enquiry Number: 0800 032 2154
Email: customer.services@royalmint.com
- Notices
19.1 If you are a consumer:
19.1.1 All notices given by you to us must be given to The Royal Mint Limited at auction@royalmint.com or Collector Services Auction Team, PO Box 500, Pontyclun, United Kingdom CF72 8WP.
19.1.2 We may give notice to you at either the e-mail or postal address you provide to us.
19.1.3 Notice will be deemed received and properly served 24 hours after an e-mail is sent, or 3 calendar days after the date of posting of any letter.
19.1.4 In proving the service of any notice, it will be sufficient to prove, in the case of a letter, that such letter was properly addressed, stamped and placed in the post and, in the case of an e-mail, that such e-mail was sent to the specified e-mail address of the addressee.
19.2 If you are a business:
19.2.1 Any notice or other communication given by you to us, or by us to you, under or in connection with these Conditions shall be in writing and shall be delivered personally, sent by pre-paid first class post or other next working day delivery service or e-mail.
19.2.2 A notice or other communication shall be deemed to have been received if:
- delivered personally, when left at our registered office;
- sent by pre-paid first class post or other next working day delivery service, at 9.00am on the second working day after posting;
- sent by e-mail, one working day after transmission; or
- if posted on the Platform, immediately.
19.2.3 In proving the service of any notice, it will be sufficient to prove, in the case of a letter, that such letter was properly addressed, stamped and placed in the post and, in the case of an e-mail, that such e-mail was sent to the specified e-mail address of the addressee.
19.3 The provisions of this clause shall not apply to the service of any proceedings or other documents in any legal action.
- General
20.1 The Royal Mint and/or the Auctioneer may use a third-party provider of services including web-hosting, software, transaction facilitation, support and maintenance to facilitate and support the Platform.
20.2 You may not assign these Conditions or any part of them without our prior written consent. We may transfer our rights and obligations under these Conditions to another organisation, but this will not affect your rights or our obligations under these Conditions.
20.3 Subject to clause 17:
20.3.1 We will have no liability to you under these Conditions if we are prevented from, or delayed in, performing our obligations under these Conditions by anything outside our reasonable control including, but not limited to the following (each an Event Outside Our Control): strikes, lock-outs or other industrial action, 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, pandemic or other natural disaster, impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport, impossibility of the use of public or private telecommunications networks or the acts, decrees, legislation, regulations or restrictions of any government.
20.3.2 If an Event Outside Our Control takes place that affects the performance of our obligations under these Conditions:
- we will contact you as soon as reasonably possible to notify you; and
- our obligations will be suspended and the time for performance of our obligations will be extended for the duration of the Event Outside Our Control.
20.4 All information contained on or available through The Royal Mint’s website is for general information purposes only and does not constitute investment or tax advice.
20.5 Failure or delay by The Royal Mint in enforcing or partially enforcing any provision of these Conditions shall not be construed as a waiver of its rights under the Conditions.
20.6 If any provision of these Conditions is found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions shall remain in force.
20.7 These Conditions represent the entire agreement between The Royal Mint and Bidder in relation to the subject matter of any contract.
20.8 A person who is not a party to these Conditions shall not have any rights under or in connection with it by virtue of the Contracts (Rights of Third Parties) Act 1999, save that if The Royal Mint’s legal status as a government owned company changes, any rights it has may be assigned by it automatically to any successor body without restriction and any such successor body may exercise rights under the Conditions as if it was a party to it.
20.9 The Royal Mint has the right to revise and amend these Conditions from time to time by posting revised terms and conditions on its website.
20.10 The Royal Mint may cancel the Auction at any stage at its absolute discretion.
20.11 These Conditions are governed by the laws of England and Wales. Any dispute arising from, or related to, the Conditions shall be subject to the exclusive jurisdiction of the courts of England and Wales.
APPENDIX – MODEL CANCELLATION FORM
(Complete and return this form only if you wish to withdraw from the contract)
To The Royal Mint Limited (whose address is at Llantrisant, Pontyclun, CF72 8YT, United Kingdom, whose e-mail address is auction@royalmint.com, and whose contact number is 0800 032 2154):
Conditions of Sale for Bidders
Online Auctions – TRM Consignments
The Royal Mint Limited (The Royal Mint, we, us and our) carries on business with bidders (Bidders, you and your) in connection with a sale to the highest Bidder (Buyer), via an online auction process (Auction), on the following Conditions of Sale (Conditions). For the avoidance of doubt, any reference to Bidder includes the Buyer.
The Auction will be hosted on The Royal Mint’s website via a platform provided by Bidpath Limited (Platform). Any personally identifiable data about you which The Royal Mint collects will be treated in accordance with its Privacy Policy. Please also find Bidpath’s Privacy Policy here, for information on how they may collect and process your personal data. For the purposes of your personal data, The Royal Mint is the controller, and Bidpath is the processor – which means that The Royal Mint determines the purpose and scope of processing personal data, and that Bidpath acts on The Royal Mint’s instructions in relation to that purpose and scope.
These Conditions, as well as the terms and conditions on The Royal Mint’s website (https://www.royalmint.com/terms/purchases/) (Standard Terms), are those under which The Royal Mint will offer Bidders, by way of the Auction, the opportunity to purchase the product(s) listed for sale on the Platform (Product). The Standard Terms contain very important information on the consumer rights you may have in connection with the Auction, as well as the terms and conditions relating to delivery, risk and title, limit of liability and complaints – so please ensure that you familiarise yourself with and agree to them.
Please note that these Conditions do not apply to the sale of third party products on the Platform. For the terms and conditions which apply to such sales, please refer to the version above. If you are unsure as to which terms and conditions apply, please check the relevant lot details on the Platform, or otherwise contact us on the details below.
If there is a conflict or inconsistency between these Conditions and the Standard Terms, the terms of the Conditions will control and prevail, to the extent permitted by law.
Bidders will be deemed to have accepted these Conditions, the Standard Terms, and our Terms of Use (available here), and agreed to be bound by them when they partake in an Auction.
- Definitions
1.1 In these Conditions:
Auctioneer means The Royal Mint or its authorised online auctioneer or auction platform provider, as appropriate.
Hammer Price means the level of bidding reached (at or above any reserve) when the Auctioneer brings down the hammer.
Proof of Address means a utility bill or a bank/credit card statement dated within the last three (3) months.
Proof of Identity means a valid passport, photo card driving licence, firearms certificate or identity card issued by the Electoral Commission of Northern Ireland belonging to the bidder.
VAT means value added tax.
1.2 The singular includes the plural and vice versa as appropriate.
- Information about us
2.1 We are a government-owned company.
2.2 The following information is required by the Electronic Commerce (EC Directive) Regulations 2002:
2.2.1 The Platform is provided by The Royal Mint Limited whose registered office is at Llantrisant, Pontyclun, CF72 8YT, United Kingdom (our premises), registered in England and Wales No. 06964873.
2.2.2 Our email address is auction@royalmint.com.
2.2.3 Our VAT registration number is GB 256 5227 96.
- Eligibility and Registration
3.1 By entering the Auction, Bidders warrant that they are:
3.1.1 legally capable of entering into binding contracts;
3.1.2 not a resident of a restricted country or region listed on The Royal Mint’s website (https://www.royalmint.com/help/account/international-customers/); and
3.1.3 at least 18 years old.
3.2 There is no fee payable to enter the Auction, however a refundable deposit may be payable in accordance with clause 4.
3.3 Bids shall only be accepted from Bidders who have registered to take part in the Auction, and who have satisfied any necessary due diligence checks in accordance with clause 6.
3.4 To register, Bidders must register their interest at https://auction.royalmint.com/login. Bidders will then be sent a link to create an Auction account with The Royal Mint. Please note that the Auction account will be separate to any other account held by Bidders with The Royal Mint.
- Deposit
4.1 Following registration, and before being able to bid in the Auction, Bidders may be required to pay to The Royal Mint a refundable deposit by bank transfer (Deposit). If a Deposit is required, The Royal Mint will inform Bidders of this, and the amount of the Deposit, in advance of registration.
4.2 Bidders agree to bear, and that The Royal Mint will not be responsible for, any fee charged by a bank or building society for the payment of the Deposit or any subsequent payment in accordance with clause 11.
4.3 In the event that, in accordance with clause 5, a Bidder is:
4.3.1 not successful in winning the bid for the Product, the Deposit will normally be returned to the Bidder to the bank account elected by them under the due diligence process in clause 5 within 3 – 5 working days of the Auction date (or such other time as we agree with you); or
4.3.2 successful in winning the bid for the Product, the Deposit will be deducted from the total price due for the Product (including any VAT, buyer’s premium and/or seller’s commission, where applicable), in accordance with clause 11.
- Bidding Procedure
5.1 Once their account has been registered as above, Bidders will be required to click on “REGISTER FOR LOT” for the relevant lot (Lot) on the Platform. Bidders will be required to verify their identity, in accordance with clause 6, via the Platform prior to placing any bid.
5.2 Once Bidders have registered for a Lot, they will then be able to enter an early bird (i.e. absentee) bid, or wait for the auction to begin.
5.3 Bidders may bid for a Lot by clicking the Bid button. Each bid shall be final and binding once Bidders click the Bid button.
5.4 Bidders acknowledge and accept that each bid submitted in the Auction is irrevocable and cannot be amended or corrected, even if submitted in error and/or notified to The Royal Mint.
5.5 Bidders accept full liability for all bids submitted via the Platform.
5.6 The highest Bidder accepted will be the Buyer of the Product at the Hammer Price and any dispute will be resolved at The Royal Mint’s and/or the Auctioneer’s (as applicable) absolute discretion.
5.7 Where two (2) or more bids at the same level are recorded, The Royal Mint and/or the Auctioneer reserve the right in its/their absolute discretion to prefer the first bid so made.
5.8 The Royal Mint and/or the Auctioneer reserve the right to disable or deactivate your account, reject any bid, withdraw the Product, and/or cancel the Auction or Lot at any time prior to or during the sale of the Product (Sale), at our absolute discretion, and without any liability to you.
5.9 All Lots are subject to a minimum reserve, being a confidential amount under which a Lot will not be sold. We reserve the right to lower such reserve of any Lot, in our absolute discretion, at any point prior to or during a Sale.
5.10 Every Bidder will be deemed to be acting as principal unless The Royal Mint provides advance written acknowledgement that the Bidder is acting as agent on behalf of a named third party.
5.11 The Royal Mint reserves the right, in the event of a Buyer failing to satisfy any requirement under these Conditions, to offer the option of purchasing the Product to the next highest Bidder (and so on) on the terms of these Conditions.
- Due Diligence Checks
6.1 Bidders agree to The Royal Mint carrying out certain credit and personal identity, source of funds, wealth and/or residency check for the purpose of anti-money laundering, identification and risk mitigation.
6.2 Bidders shall provide The Royal Mint with such documentation as it may require to satisfy these purposes. Bidders may also be required to provide evidence of their source of funds and wealth prior to purchasing the Product.
6.3 The Royal Mint reserves the right to carry out the above checks on Bidders prior to the Auction, and/or the Buyer once the Auction has been completed.
6.4 The Royal Mint may also require a reference or guarantee.
6.5 Bidders confirm that all information and documents provided to The Royal Mint during the registration process or at any time via the Platform or otherwise in relation to the Auction are up-to-date, complete, truthful, accurate and not misleading.
- Estimates and Minimum Increment
7.1 The Royal Mint and/or the Auctioneer may provide an estimated value of the Product, which does not include VAT, is intended to be a guide only, and is by no means definitive. The Royal Mint and/or the Auctioneer reserve the right to amend any estimate ahead of the Auction.
7.2 The Royal Mint and/or the Auctioneer reserve the right to refuse any bid, which is not at least the same or higher than the applicable minimum bidding increments above the previous bid value. The relevant increments and bid values:
7.2.1 will be notified to Bidders on the Platform ahead of and during bidding; and
7.2.2 are set at the sole discretion of The Royal Mint and/or the Auctioneer.
7.3 The Royal Mint and/or the Auctioneer reserve the right not to accept bids at below eighty per cent (80%) of the low estimate.
- Premium and Commission
Unless otherwise provided on the Platform or notified to Bidders, no buyer’s premium or seller’s commission will be payable or due under the Auction.
- Tax
9.1 Unless otherwise provided on the Platform or notified to Bidders:
9.1.1 the Product price is inclusive of VAT. Products marked with a ‘G’ are classified as Investment Gold, so a VAT-registered trader can submit a claim to HMRC to recover the VAT; and
9.1.2 the Buyer is responsible for accounting for all applicable tax (including VAT) due and payable in relation to a Sale.
- Notification of winning bid
We will aim to notify the Buyer of their winning bid, by e-mail, within 72 hours of the end of the Auction, following which we will arrange for all administrative requirements to be completed.
- Payment
11.1 On the fall of the hammer, the contract between The Royal Mint and the Buyer is concluded.
11.2 We will provide the Buyer with an invoice, by e-mail, for the total amount due within 72 hours of the notification in clause 10 above, provided that any due diligence checks pursuant to clause 6 have been completed to our satisfaction within that time. If such checks fail, or there is an issue, we will contact the Buyer through their preferred communication method to try to resolve the issue.
11.3 The Buyer is obliged to make immediate payment, via bank transfer, to The Royal Mint for the total amount due under the invoice (unless credit terms have been agreed with The Royal Mint in writing in advance). In the event that The Royal Mint has not received payment in full from the Buyer within 30 calendar days of the close of the Auction, or as otherwise specified in the invoice, The Royal Mint reserves the right to cancel the Sale without any notice to the Buyer.
11.4 The Royal Mint:
11.4.1 does not accept cash payments;
11.4.2 will only accept payment for the Product from the bank account elected by the Buyer under the due diligence process in clause 6; and
11.4.3 may, at its absolute discretion, agree terms with the Buyer in advance whereby the Buyer may take possession of the Product ahead of full payment at a predetermined future date.
11.5 No title in the Product passes to the Buyer until full payment of the total amount due in Pounds Sterling is received by The Royal Mint.
11.6 All payments to The Royal Mint made by the Buyer may be applied to any outstanding amounts owed by the Buyer, regardless of the express or implied instructions of the Buyer or his/her agent.
- Collection or Delivery of Product
12.1 Unless otherwise provided on the Platform or notified to Bidders, the Buyer will have the option to accept delivery or otherwise collect the Product purchased, in both cases within 30 calendar days of the date of the Auction, once payment in full has been made, unless prior credit terms have been agreed. The cost of delivery and/or collection (if any) will be provided on the Platform or otherwise notified to Bidders ahead of bidding.
- The Buyer is responsible for loss or damage to the Product from time of collection or delivery. The Royal Mint, its employees and representatives are not responsible for any loss or damage, whatever the cause, while the Product is in the Buyer’s custody after this point.
- Remedies for Late or Non-Payment
13.1 Subject to any consumer rights the Buyer may have in law and in accordance with clause 11 of the Standard Terms, if the Buyer fails to pay in full and collect the Product, or fails to fulfil their obligations in any way, The Royal Mint acting as the vendor may, in addition to and without prejudice regarding other legal remedies, exercise one or more of the following remedies:
13.1.1 to proceed against the Buyer for damages for breach of contract;
13.1.2 to rescind the Sale and that of any other Lots sold to the same Buyer in the same or any other auction;
13.1.3 to resell the Product either at public auction or by private sale, and pursue the Buyer for any deficiency in proceeds and to cover the costs and expenses and commissions due on both the original and the subsequent sale. Any surplus generated will belong to The Royal Mint;
13.1.4 to remove, store and insure the Product at the Buyer’s expense. The Product will be stored either at The Royal Mint’s premises or elsewhere;
13.1.5 to impose a late payment charge not exceeding three per cent (3%) per month on the total payment due from the date of the Auction, if the amount owing is unpaid five (5) working days after the Auction;
13.1.6 to hold back the Product and any other Lot sold to the Buyer at the same or any other Auction until the total amount due is paid;
13.1.7 to reject any bids made by or on behalf of the defaulting Buyer at any subsequent Auctions, or requesting a Deposit before allowing them to bid; and/or
13.1.8 to apply the proceeds of any sales by the Buyer towards settlement of the total amount due, and to exercise a lien on the property of the defaulting Buyer which The Royal Mint is holding for any purpose.
- Liability of The Royal Mint and the Auctioneer
As well as this clause, Bidders’ and the Buyer’s attention is drawn in particular to clause 13 (Limitation of Liability) of the Standard Terms.
14.1 Neither The Royal Mint nor the Auctioneer accept responsibility for:
14.1.1 any loss or damage caused by any bugs or viruses, and Bidders are advised to obtain their own virus, malware and other computer protection software;
14.1.2 any interruption in or failure, delay, error or unavailability of the Platform;
14.1.3 any neglect or default in executing or failing to execute bids whether through the Auctioneer or through any online bidding software, or where a bidding slip has been completed incorrectly; and
14.1.4 errors during or after the Sale or failures to execute bids placed on the internet or on a Bidder’s equipment or mobile device, including, without limitation, errors or failures caused by any loss of connection to the auction being conducted online, a breakdown or problems with the online bidding software or the web site service provider and/or a breakdown or problems with any internet connection, computer, mobile device or system.
14.2 Bidders are advised to view the Product or request further details regarding the condition prior to the Sale. The Product is sold “as is”, with all faults, imperfections and modifications, and in the condition that it is in at the time of Sale, without any representation or warranty or assumption of liability of any kind as to condition by The Royal Mint, save as expressly provided in these Conditions or as otherwise implied by law.
14.3 The Royal Mint does not warrant that the Product will achieve any particular grade by third party grading services, and if the grading company does not reach a conclusion regarding authenticity then the opinion of The Royal Mint shall stand.
14.4 Any claim by the Buyer is limited to the total price paid for the Product, and there is no further liability accepted by The Royal Mint for any loss, expenses or damage caused, to the extent permitted by law.
14.5 Except as expressly stated in these Conditions, the Standard Terms, and the description of the Product on the Platform, we do not give any representations, warranties or undertakings in relation to the Product. Any representation, condition or warranty which might be implied or incorporated into these Conditions by statute, common law or otherwise is excluded to the fullest extent permitted by law. In particular, we will not be responsible for ensuring that the Product is for your purposes.
- General
15.1 The Royal Mint and/or the Auctioneer may use a third-party provider of services including web-hosting, software, transaction facilitation, support and maintenance to facilitate and support the Platform.
15.2 You may not assign these Conditions or any part of them without our prior written consent. We may transfer our rights and obligations under these Conditions to another organisation, but this will not affect your rights or our obligations under these Conditions.
15.3 Subject to clause 14:
15.3.1 We will have no liability to you under these Conditions if we are prevented from, or delayed in, performing our obligations under these Conditions by anything outside our reasonable control including, but not limited to the following (each an Event Outside Our Control): strikes, lock-outs or other industrial action, 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, pandemic or other natural disaster, impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport, impossibility of the use of public or private telecommunications networks or the acts, decrees, legislation, regulations or restrictions of any government.
15.3.2 If an Event Outside Our Control takes place that affects the performance of our obligations under these Conditions:
- we will contact you as soon as reasonably possible to notify you; and
- our obligations will be suspended and the time for performance of our obligations will be extended for the duration of the Event Outside Our Control.
15.4 All information contained on or available through The Royal Mint’s website is for general information purposes only and does not constitute investment or tax advice.
15.5 Failure or delay by The Royal Mint in enforcing or partially enforcing any provision of these Conditions shall not be construed as a waiver of its rights under the Conditions.
15.6 If any provision of these Conditions is found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions shall remain in force.
15.7 These Conditions, along with the Standard Terms, represent the entire agreement between The Royal Mint and Bidder in relation to the subject matter of any contract.
15.8 A person who is not a party to these Conditions shall not have any rights under or in connection with it by virtue of the Contracts (Rights of Third Parties) Act 1999, save that if The Royal Mint’s legal status as a government owned company changes, any rights it has may be assigned by it automatically to any successor body without restriction and any such successor body may exercise rights under the Conditions as if it was a party to it.
15.9 The Royal Mint has the right to revise and amend these Conditions from time to time by posting revised terms and conditions on its website.
15.10 The Royal Mint may cancel the Auction at any stage at its absolute discretion.
15.11 These Conditions are governed by the laws of England and Wales. Any dispute arising from, or related to, the Conditions shall be subject to the exclusive jurisdiction of the courts of England and Wales.
