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GENERAL

1. Tracks Ltd will act as agent to consignors and buyers in the sale of all items listed in auctions published on www.tracksauctions.com. As part of all auctions, Tracks Ltd. will also sell a selection of lots as Principal.

2. Tracks Ltd undertakes no obligation to you to examine, investigate or carry out any tests by outside independent companies on each lot to establish the accuracy of any descriptions or opinions given by Tracks Ltd, or by any person on Tracks Ltd.’s behalf, whether on the website or anywhere else. You should not suppose that such examinations, investigations or tests have occurred. All descriptions or opinions provided by Tracks Ltd. are given honestly and take into consideration all information and opinions available at the time of consignment, using both information provided by the consignor and our own knowledge and expertise.

3. Buyers are advised to examine in person any items listed in the auction in which they are interested in bidding. Condition reports are available for all items in the auction and we strongly recommend that all customers request a report for any item in which they are interested before placing a bid. If buyers make no attempt to view the item in person and/or if they do not request a condition report, further relevant information or photographs then Tracks Ltd. can accept no liability for buyers’ dissatisfaction with the condition of an item once it has been received. Tracks Ltd. reserves the right to change any details within any description at any time until the lot is sold.

4. Please note that due to the nature of the lots sold in our auctions, items will rarely be in mint condition and are likely to show signs of wear and tear, imperfections and repair, due to their age.

5. All lots are covered by Tracks Ltd.’s insurance policy while they are in our possession. Tracks Ltd. maintains insurance against theft, loss, damage or destruction of items, once in our possession, equivalent to the agreed reserve price of the item. If no reserve price has been agreed between the consignor and Tracks Ltd for any item consigned to an auction, it will be covered up to the agreed low estimate. Our insurance policy will cover all items until they leave the Tracks Ltd. premises.

6. These conditions of sale, the management and execution of the auction, and the rights of all involved parties are governed by the laws of the United Kingdom. By bidding or consigning to this auction you agree that all transactions and connected matters will be defined by and undertaken in accordance with these laws, and you therefore submit to the jurisdiction of the courts of the United Kingdom.

7. These terms and conditions are the copyright of Tracks Ltd and shall not be used by the buyer, consignor or any other party without prior written consent.

BEFORE THE SALE

1. Condition reports are available for all items in the auction and we strongly recommend that all customers request a report for any item in which they are interested before they place a bid. Condition reports for any lot in the auction can be requested via the lot page.

2. (a) New bidders, or those wishing to spend more than on previous occasions with Tracks Ltd., may be asked to provide ID as part of their application to bid in an auction. Acceptable ID is classed as either a valid government-issued Passport or Photo Driving License. Information on this ID must match that given by the bidder at registration. Please note that all bidders must be aged 18 years and above. Tracks Ltd. may also require a bank reference letter from bidders who wish to bid on high value lots. Requests for this information will be made to you from Tracks Ltd in writing by letter or by email.

(b) Customers may be subject to a credit check regarding their solvency and ability to pay as part of their application to bid (UK bidders only).

(c) All customers wishing to bid on lots with an estimated value of £100,000 and above must provide ID and a financial reference (bank reference letter/proof of funding letter/bank statement) from their bank/building society in order to bid. Tracks Ltd requests that all customers wishing to bid on items above this threshold contact us directly on +44 (0)1257 269726 to register their interest as soon as possible.

BIDDING AND BUYING

1. Buyers/bidders cannot bid on any lots they have consigned to the auction, nor can they bid on behalf of the consignor of any lot. If you violate this provision of the contract and have the highest bid on a lot you will be subject to paying the bid, commission and buyer’s premium on the lot upon which you are the highest bidder.

2. Tracks Ltd. will accept bids from a nominated 3rd party on behalf of a registered buyer only on receipt of written confirmation from the buyer before the auction begins.

3. The buyer of each lot will be the highest bidder when the auction of that lot ends.

4. Please note that the auction is conducted in, and all bids must be made in, GBP £ Sterling. Payment for any lots for which you have successfully made a bid must also be made in GBP £ Sterling. You are advised to conduct your own research into the applicable exchange rates prior to placing a bid.

5. Please note that Tracks Ltd. reserves the right to reject a registration to bid, reject or withdraw any bid you place, withdraw its permission for you to bid, or terminate a bidding account, for any reason at any time prior to, during or after an auction.

6. Tracks Ltd. reserves the right to prohibit registration and bidding in any and all future auctions for customers who fail to pay for items purchased through Tracks Ltd.

7. (a) Tracks Ltd. permits absentee bidding and may bid on behalf of third parties. Absentee bidding must be arranged by contacting Tracks Ltd. for an Absentee Bidding Form. Forms must be received by us no later than 24 hours prior to the start of the auction. In the event of the same bid for a lot being received by multiple bidders, the bid which we receive first will be the one which is accepted. Unless otherwise specified by you, all absentee bids will be executed upon receipt of a completed Absentee Bidding Form and confirmed to you by email, phone or letter.

(b) For lots with no reserve price Absentee bids will be executed from 50% of the low pre-sale estimate, or at the amount of the bid if this is less than 50% of the low pre-sale estimate.

8. As a buyer you agree that by placing a bid on any item you are entering into a binding contract in which you are legally obliged to purchase any and all items on which you are the highest bidder when the auction ends.

9. Tracks Ltd. accept no liability for any failure or delay in placing bids or any errors contained in bids placed via the online bidding service. By choosing to use our online bidding service you agree that you are doing so entirely at your own risk. Tracks Ltd. accept no liability for delay, disruption or interruption of auction activity in the event of, but not limited to, technical problems, power cuts, electrical failure, fire, flooding and other acts of God, terrorist acts and human error.

10. If you, as the highest bidder, fail to pay for a lot in full when requested to do so by Tracks Ltd. within 14 days of the close of the auction, we reserve the right to offer and sell the lot to an underbidder or another buyer at a price agreed with the consignor.

11. A Buyer’s Premium will be added to the successful bid price of each lot and is payable by the Buyer as part of the total purchase price. Buyers acknowledge and agree that the Buyer’s Premium will be added to the hammer price of lots at the following rates:

30% for all lots

AFTER THE SALE

1. Tracks Ltd. will not notify you of whether you have won any item in our auction. However, you may receive automatically generated emails. It is your responsibility as the bidder to check the results of the auction. We will issue invoices to all successful bidders once the auction has closed.

2. (a) All invoices must be paid within 3 days of the invoice date. Tracks Ltd. will not release any items for collection/delivery until full payment has been received.

(b) All payments must be made by the registered buyer unless otherwise agreed with Tracks Ltd.

3. (a) Payment must be made using bank transfer (Please quote your invoice number as reference). Any other methods of payment are at the discretion of Tracks Ltd. and must be agreed before the start of the auction. All payments of £10,000 and above must be paid by bank transfer only.

(b) Any and all bank charges relating to sending and/or receiving money are to be absorbed by the customer.

4. Purchased lots can only be collected or prepared for delivery when fully cleared funds have been received in payment. Collection/delivery must be arranged by contacting Tracks Ltd. once payment is made. If arrangements have not been made within 14 days you will be liable for a storage fee of £5.00 per lot per day.

5. (a) Tracks Ltd. offers a lifetime guarantee of authenticity on all items sold at our auctions. If for any reason you have doubt or a question regarding the authenticity of a lot you have purchased from Tracks Ltd. you must notify us as soon as possible. The lot in question along with details of the sale and accompanying written evidence must be sent to us in order for us to investigate further. If it is agreed that enough evidence has been presented to support the lot being a forgery, Tracks Ltd. will purchase from you the lot along with all and any title and/or claim and will recompense the total price originally paid by you in respect of the lot, including purchase price, buyer’s premium, VAT and reasonable costs associated with shipping. In this instance, Tracks Ltd. must be entirely convinced that the lot is a forgery and to this end it is incumbent upon the buyer to provide incontrovertible written and/or photographic evidence from at least two mutually acceptable recognised authorities that the item is not genuine.

(b) Similarly in relation to doubt or question regarding title and/or claim in respect of a lot you have purchased from Tracks Ltd. you must notify us as soon as possible. The lot in question along with details of the sale and accompanying written evidence must be sent to us in order for us to investigate further. Please be aware that circumstances regarding title and/or claim to any lot are given in relation to the legal position on that item at the time of sale.

(c) If you have any doubt or question regarding the condition of any item you have purchased through Tracks Ltd. you must contact us within 7 days of receipt of that item. Condition reports are available for all items in the auction and we strongly recommend that all customers request a report for any item they are interested in before they place a bid. If buyers make no attempt to view the item in person and no condition report, photographs or further information is requested, then Tracks Ltd. will accept no liability for buyers’ dissatisfaction with the condition of an item once it has been received.

6. Once collection/shipping of items you have purchased through Tracks Ltd. has been arranged the liability for these items becomes your full responsibility as the buyer. Once items leave the Tracks Ltd. premises they are no longer covered by our insurance policy. You should ensure that you have arranged collection/shipping which includes adequate coverage for loss, damage or destruction of the items during transit as well as handling, customs, taxes and any other related expenses.

7. All signed items sold through TracksAuctions.com come with a certificate of authenticity and lifetime guarantee.

Terms & Conditions of Consignment

1. Tracks Ltd. agrees to act as agent to consignors and buyers in the sale of all items listed in auctions published on tracksauctions.com

2. (a) If you are interested in consigning to Tracks Ltd. in future sales please contact us with images and a short description of each item at:

Tracks Ltd,

PO Box 117,

Chorley,

Lancashire, PR6 0QR,

United Kingdom,

sales@tracks.co.uk

+44 (0)1257-269726

Please note that all consignors must be aged 18 years and above.

(b) After we have reviewed the items you wish to sell, we will contact you with auction estimates for each item we would like to include. Once we have agreed on all estimates (and reserves if applicable) we will forward you a copy of our Consignor Contract for review and guide you through the consignment process.

Please do not send any items without contacting us first to discuss. If we receive any items prior to contact which are not deemed suitable for the auction they will be returned to the sender at their expense.

3. (a) As a Consignor you confirm that you are the sole owner of these items and/or have the unrestricted right to transfer full ownership of the items to the Buyer, free from all third party rights or claims (including copyright, title and/or claim). You also confirm that you have provided us with all the information you have available regarding the previous ownership, use and/or association with significant people, events or otherwise, of all items you wish to consign.

(b)Tracks Ltd. may at their own volition return to you any materials we consider to be unacceptable for auction. Reasons for return might include, but are not limited to, condition, authenticity, duplication and past sales performance etc.

(c) Tracks Ltd. allows the use of reasonable confidential reserves for agreed lots. Reserves are considered and/or approved on an individual lot basis and must be agreed in writing no later than 7 days before the start of the first session of the auction unless otherwise agreed. The reserve assigned to a lot is the lowest bid that must be achieved in order for the lot to be sold to a bidder. The commission payable to Tracks Ltd. will be deducted from that bid.

(d) Tracks Ltd. reserves the right to offer consignment terms specific to the representation of an individual item. Such terms are confidential to Tracks Ltd. and the Consignor and are non-transferable by the Consignor.

4. As a consignor if, after signing a contract with Tracks Ltd., you withdraw your items before the auction begins, you may be subject to an Item Withdrawal Fee of a third of the reserve price for each item. If your items do not have reserve prices you will be subject to a withdrawal fee of £50 per lot. If you withdraw any items from the auction you will be liable for return shipping costs and insurance and you must arrange this with Tracks Ltd.

5. Neither you nor anyone acting on your behalf may bid on the items you have consigned to Tracks Ltd. If you violate this provision of the contract you will be subject to paying the bid, commission and buyer’s premium on all lots upon which you are the highest bidder.

6. Tracks Ltd. are not responsible for items until they are in our possession. As a consignor, you are responsible for the insurance, shipping, handling, customs, taxes and any other related expenses for items during shipping to our office and/or returning to you for any reason. Tracks Ltd. maintains insurance against theft, loss, damage or destruction of items, once in our possession, equivalent to the agreed reserve price of the item. If no reserve price has been agreed between the consignor and Tracks Ltd. for any item consigned to an auction, it will be covered up to the agreed low estimate. Once payment and collection of items has been arranged for sold lots, liability for these items and all related insurance and shipping expenses becomes the full responsibility of the Buyer.

7. Tracks Ltd. retains the copyright to any photographs and/or descriptions of the items listed in the auction unless otherwise indicated.

8. Tracks Ltd. will charge you a Consignor’s Fee as a percentage of the total of all hammer prices (excluding VAT, where applicable) realised from the sale of your items. Consignor’s Fee is charged at the following rates: up to £20,000 –  10% (plus VAT in the UK)  £20,001 and above – No commission.

9. VAT at the appropriate rate will be charged on the Consignor’s Fee where applicable (Consignors are not liable for VAT if they reside outside the UK)

10. Providing Tracks Ltd. have received fully cleared payment from the Buyer, you will be paid within 30 days of the closing date of the auction in which your items sell. Payment will be made directly to you by bank transfer or cheque and will be agreed with you before payment is sent.

11. Any and all bank charges relating to sending and/or receiving money are to be absorbed by the customer.

12. If any items you consign to Tracks Ltd. qualify for The Artist’s Resale Right Regulations 2006, we agree to collect an equivalent amount of the resale royalty from the buyer and remit this to the artist’s collecting agent on your behalf. Further information regarding this can be obtained from Tracks Ltd. on request.

13. If the buyer of your item fails to pay within 14 days of the auction end, you permit Tracks Ltd. to take necessary steps to recover the amount due. Please note, however, that Tracks Ltd. are not obliged to settle the payment due to the consignor, nor are we obliged to serve any legal proceedings on behalf of the consignor.

14. If any of your items fail to sell at auction you permit Tracks Ltd. to attempt to sell these items at the reserve price for 2 days following the sale. However, initially, we will contact you to discuss all the options available to you.

15. Unsold lots must be collected within 7 days of the end of the auction. You are responsible for arranging the collection of any items you have consigned to the auction which go unsold. Shipping of any items will be at your expense and must be arranged by contacting Tracks Ltd. If arrangements for shipping have not been made within 14 days you will be liable for a storage fee of £5.00 per lot per day.

16. Tracks Ltd. offer a lifetime guarantee of authenticity on all items sold at our auction. However, if for any reason a buyer has doubt or question regarding authenticity or title and/or claim on a lot they have purchased from Tracks Ltd. they have the capacity to present the item to us along with accompanying written evidence to investigate further. In this instance, Tracks Ltd. must be entirely convinced that the lot is a forgery and to this end it is incumbent upon the buyer to provide incontrovertible evidence from at least 2 mutually acceptable recognised authorities that the item is not genuine. If it is agreed that enough evidence has been presented to support the lot being a forgery, Tracks Ltd. will approach you, as the original consignor, in order to return the item to you and to recoup all proceeds you received associated with the sale of this item. This specification of recompense is without a time limit.

17. Similarly, in relation to doubt or question regarding the title and/or claim on a lot which a buyer has purchased from Tracks Ltd., the lot in question along with accompanying written evidence must be sent to us in order for us to investigate further. Tracks Ltd. must be entirely convinced that a 3rd party has the legal entitlement to title and/or claim and to this end it is incumbent upon the buyer to provide incontrovertible evidence from at least one mutually acceptable recognised authority that this is the case. If it is agreed that enough evidence has been presented to support the case, Tracks Ltd. will approach you, as the original consignor, in order to recoup all proceeds you received associated with the sale of this item. The item may not be returned to you as a result of a dispute of title and/or claim. This specification of recompense is without a time limit. Please be aware that circumstances regarding title and/or claim to any lot are given in relation to the legal position on that item at the time of sale.

18. These terms and conditions are the copyright of Tracks Ltd. and shall not be used by the buyer, consignor or any other party without prior written consent.

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Changes To These Terms And Conditions

We may, from time to time, amend these terms and conditions. Any changes will be posted on our website www.tracksauctions.com. Please review these terms and conditions regularly to ensure you are aware of any changes made by us. If you use online bidding after changes have been made or posted, you shall be deemed to have agreed to such changes. If you do not agree to such changes, you should not make any subsequent use of the online bidding service.

The auction is a simple timed auction. (It is not a live auction with an auctioneer.)  The auction begins at 10am (BST) on Friday 5^th July and starts to finish at midday on Monday 15^th July.  As the auction ends there will be a 30 second gap between each lot.  Hence lot 1 ends at 12pm, lot 2 ends 30 seconds after 12pm and so on.

Each lot has the possibility of a 60 second extension. So if, for example, someone else makes a bid in the final minute, (i.e at 1 minute to 12pm in the example of lot 1 above) the auction will then extend for an additional 60 seconds. If no one else makes a bid within this 1 minute period, the highest bidder will have successfully won the lot.

None of our lots have a hidden reserve price. Each lot will either start at £1 or have a starting price which if met would secure the item provided there are no additional bids.