Important Information

AUCTION NO: 14611

AUCTION FORMAT: 
This is a live online auction with an auctioneer.  The auction will take place at:

Dreweatts
Donnington Priory
Newbury
Berkshire RG14 2JE

Bidding is available in person at our salerooms, online, by telephone or you can leave commission (absentee) bids.  If not bidding in person or online, please contact Dreweatts to register all commission bids or telephone bids by 12 noon GMT the day before the auction. For a guide to bidding in a Live Online Auction, click here.      

BUYER’S PREMIUM:
Buyer’s premium is charged per lot at 26% of the hammer price (31.2% including VAT) up to and including £20,000, 25% (30% including VAT) of the hammer price from £20,001 up to and including £500,000, 20% (24% including VAT) of the hammer price from £500,001 up to and including £1,000,000, and 12.5% of the hammer price (15% including VAT) in excess of £1,000,000.

REGISTRATION:
You will need to set up an account with Dreweatts in order to bid in the auction.  It is now a requirement that we undertake identification and address verification from clients in order to comply with money laundering regulations and fraud prevention.  If you have not already done so, all clients must provide two forms of identification before they can bid.  Please submit:      

  • a copy of a government-issued photo identification (such as a national identity card, passport or UK driving licence) showing your full name and date of birth, and
  • a proof of your current address, for example a utility bill or bank statement, mortgage document

If you wish to buy on behalf of a Company, please submit:

  • a certificate of incorporation, showing the company’s full name and registered address;
  • documentary confirmation of each beneficial owner owning 25% or more of the company;
  • the ID document (such as a driving licence or passport) of the authorised signatory and where the authorised signatory is not a director, a letter on company letterhead confirming the individual’s authority to act.  

Documents should be sent by email to live@dreweatts.com.  Depending on individual circumstances, further documents may be requested. Your invoice will be made out in the name and address you register with.   Once you have set up your account you can then register to bid in the sale.

We advise all clients to register at least 48 hours in advance of the auction as you may be asked to provide documents to verify your identity.  Registration for new clients will close at 12 noon GMT the day before the auction. 

CONDITIONS OF SALE:
Any registration to bid is subject to acceptance of our Auction Terms and Conditions and Privacy Policy

VIEWING IN LONDON (HIGHLIGHTS):  Dreweatts, 16 Pall Mall, St James's, London SW1Y 5LU
Tuesday 27 February: 10am - 4pm
Wednesay 28 February: 10am - 4pm

VIEWING IN NEWBURY (FULL SALE): Dreweatts, Donnington Priory, Newbury, Berkshire RG14 2JE:
Saturday 2 March: 10am-3pm
Sunday 3 March: 10am-3pm
Monday 4 March: 10am-4pm
Tuesday 5 March: 10am - 4pm
Wednesday 6 March: 10am-4pm
Day of sale: no viewing          

REMOTE VIEWING SERVICE:
Remote Viewing will also be available by appointment from Saturday 2 March.  Our Remote Viewing Service allows you to view specified lots via your smartphone from the comfort of your own home at a time convenient to you. Find out more here. 

To book a “remote viewing” appointment, please email: jsw@dreweatts.com or call 44 (0) 1635 553 553. 

CONDITION OF ITEMS: 
Buyers must satisfy themselves to the condition of any item prior to bidding. Our specialists will be providing detailed conditions reports and additional images as requested.  Many of the lots already have condition reports so please check the website first (see text in italics at the end of the description). If you cannot see a condition report on the website, please click the “Ask a question” button beside the lot to request one.    

CONTACT:
Tel: +44 (0) 1635 553 553
General enquiries and condition reports: jsw@dreweatts.com.
Telephone and commission bids: bid@dreweatts.com
Commission bids may also be placed via your online bidding account.

PAYMENTS: 
Once the auction has concluded, you will receive an invoice by email with a link to our online payment page as well as collection and shipping information.  Where auctions finish late in the afternoon or evening, invoices will be sent out the next working day.   

It is our policy not to accept third party payments. The name of the bank account or card holder should match the name of the buyer. Payment will be accepted by:

  • Bank transfer: Dreweatts’ preferred method of payment is by bank transfer direct into our bank account. Payments must be made from the account of the registered Buyer. In light of growing email hacking and fraud threat, we advise our clients to phone Dreweatts prior to making the payment and verbally verify the bank details received over the email.
  • Online via SagePay: clients can pay online up to a limit of £10,000 via SagePay by following this link https://www.dreweatts.com/payments. Lots paid for using SagePay will be available for collection the following day (not the same day).
  • Debit card issued in the name of the Buyer by a UK bank and registered to a UK billing address.
  • Credit card: all major UK issued credit cards registered to a UK billing address and issued in the name of the Buyer, with the exception of Diners Club. Credit cards registered to an overseas billing address up to a maximum of £5,000 with the exception of Diners Club.
  • In cash up to £8,000: subject to relevant money laundering regulations. 

Please note: 

  • We no longer accept payment by cheque.
  • First time buyers: payment over the phone by debit or credit card is permitted up to a maximum of £1,000. For larger payments, please pay online or by bank transfer
  • To make a payment by telephone, please call: + 44 (0) 1635 553 553
  • We are unable to release items until funds have cleared and become visible in our account.  This generally takes 24 hours and may take longer depending on your bank. Please ensure the sale date and Invoice number is quoted on all payments, so that the payment can be applied to your account without delay.    

CUSTOMER DUE DILIGENCE CHECKS:
In order to comply with current Money Laundering Regulations, it is our policy to conduct appropriate Know Your Client checks on any buyers who transact at the threshold of £8,000 or more. Buyers will be required to provide the following information: 

  1. For individuals, official photo identification (a government issued ID document such as passport or driver’s licence) and a proof of address (utility bill, bank statement or driver’s licence).
  2. For legal entities, a certificate of incorporation (or equivalent), a register of shareholders/directors and ID documentation from the directors and beneficial owners of the business.

We reserve the right to withhold the purchased lots until such checks have been completed. 

COLLECTIONS & SHIPPING:
Collections are available from Dreweatts Donnington Priory salerooms from Monday to Friday (9am–5pm) by appointment only.  Collections are not possible at weekends.  

  • Please do not arrange to collect items without having paid online or by bank transfer beforehand.
  • You can collect in person or instruct your own shipper or choose from a number of suggested shipping companies listed here
  • Please note that lots will not be released until they are paid for in full, and the cost of shipping is payable direct to the company concerned.  We will also need your prior authorisation before we release goods to any packer / shipper.
  • We do not offer a shipping service ourselves. 
  • To book a collection, please email collections@dreweatts.com or call: +44 (0) 1635 553 553.  

STORAGE:
Due to a busy schedule of sales, we are unable to store sold items at the salerooms. All items not collected within 4 working days of the sale (by 4pm) will be automatically removed to commercial storage and subject to a storage charge of £20 (plus VAT) per lot and to a further storage charge of £3 (plus VAT) per lot per part or full day thereafter. Please note for large consignments there may be additional charges. These charges will be the sole liability of the purchaser and will be billed directly to them by Sackville-West Moving & Storing - the new sister company of Vangaroo Ltd.

On payment of all sales and storage costs, items will be available for collection by appointment from Sackville-West Moving & Storing (Andover SP10 3SA). 

To download our Payment and Shipping fact sheet, click here. 

EXPORT OF ITEMS:
If you intend to export goods out of the UK, we ask you to satisfy yourself as to whether there is prohibition on exporting goods of that character e.g. if the goods contain prohibited materials such as ivory or they require an Export Licence on the grounds of exceeding a specific age and/or monetary value threshold as set by the Export Licensing Unit. We are happy to make the submission of necessary applications on behalf of our buyers, but we will charge for this service only to cover the costs of our time.

VAT LIABILITIES FOR OVERSEAS BUYERS:
Private overseas buyers can only receive goods free of VAT or have the VAT amount refunded if Dreweatts acts as exporter in relation to the sale, the goods are exported within 3 months of the sale and Dreweatts is in possession of adequate export documents. The VAT refunds are available for transactions exceeding £2,500. If you arrange for the goods to be picked up/delivered to you directly we will charge UK VAT at the appropriate rate and no refund will be available. Please note, buyers are responsible for completing the importation procedures as well as the payment of any relevant duty/VAT payable on importation into the destination country. 

Where the purchase has been made in the business or trading name, VAT refund will be available on proof of export provided within 3 months of the sale.

BIDDING INCREMENTS FOR LIVE ONLINE AUCTIONS:
The online bidding increments prior to the live auction are listed below.  Please note during the live auction, the bidding increments shall be at the auctioneer’s sole discretion.

From

To

Increment

 

0

£200

£10

 

£200

£300

£20

 

£300

then £320

then £350

then £380

ie. London bidding

£400

then £420

then £450

then £480

ie. London bidding

£500

£1,000

£50

 

£1,000

£2,000

£100

 

£2,000

£3,000

£200

 

£3,000

then £3,200

then £3,500

then £3,800

ie. London bidding

£4,000

then £4,200

then £4,500

then £4,800

ie. London bidding

£5,000

£10,000

£500

 

£10,000

£20,000

£1,000

 

£20,000

£30,000

£2,000

 

£30,000

then £32,000

then £35,000

then £38,000

ie. London bidding

£40,000

then £42,000

then £45,000

then £48,000

ie. London bidding

£50,000

£100,000

£5,000

 

£100,000

£200,000

£10,000

 

£200,000

£300,000

£20,000

 

£300,000

then £320,000

then £350,000

then £380,000

ie. London bidding

£400,000

then £420,000

then £450,000

then £480,000

ie. London bidding

£500,000

£1,000,000

£50,000

 

£1,000,000

£2,000,000

£100,000

 

£2,000,000

£3,000,000

£200,000

 

£3,000,000 

then £3,200,000 

then £3,500,000 

then £3,800,000

ie. London bidding

£4,000,000

then £4,200,000

then £4,500,000

then £4,800,000

ie. London bidding

£5,000,000

£10,000,000

£500,000

 

 

IMPORTANT NOTICES TO WATCH BUYERS: 

DAMAGE, RESTORATION, ALTERATION
Although every effort is made to note any damage, restoration or alterations, the absence of any such information in catalogue descriptions does not imply the lot is in perfect condition and free from any such defects. Prospective buyers should satisfy themselves as to the condition of any lot prior to bidding. All watches are serviced from time to time, and Dreweatts are unable to guarantee that the working parts of any watch movement, glass or crystal, winding crowns, watch bracelet, strap or buckle are the manufacturers’ original parts, unless otherwise stated in the catalogue description. We are unable to make any representation in our catalogue descriptions or condition reports as to the authenticity of such parts. Dreweatts are unable to make any representation, nor make any comment on, the authenticity of diamonds, or other gemstones, set into watch dials, bezels, cases and bracelets.  

AUTHENTICATION
All watch movements have been inspected by Dreweatts watchmaker and specialists, and we have verified all inventory and movement numbers. For the information of potential bidders, all inventory and movement numbers are listed in the catalogue description for the relevant lot. 

IMPORT/EXPORT RESTRICTIONS
There may be Import Restrictions into some territories outside the United Kingdom placed on certain watch brands, or on the importation of watches with straps composed of animal skins which may fall under CITES Regulations. It is the sole responsibility of the buyer to comply with all Export/Import regulations and potential bidders are strongly recommended to check with their shipping agent as to any such regulations that may apply to any lot. Dreweatts are not shippers and are unable to offer any advice regarding such regulations. 

CONDITION REPORTS
Dreweatts condition reports will identify whether a watch functions at the time of cataloguing, and suggest possible, but not comprehensive, restoration work that may need to be carried out for the watch to function properly. Dreweatts are unable to test watches for accuracy or running to time, and we cannot guarantee that any watch will function when purchased from us. 

As we have examined all watch movements by removing the case backs, we cannot guarantee that water resistant watches will remain water resistant following purchase from us. Dreweatts recommend that any watch purchased from us is subsequently overhauled by a competent watchmaker to ensure proper functioning.

 

IMPORTANT NOTICES TO JEWELLERY BUYERS: 

DAMAGE, RESTORATION, ALTERATION
Although every effort is made to note any damage, restoration or alterations, the absence of any such information in catalogue descriptions does not imply the lot is in perfect condition and free for any such defects.  Prospective buyers should satisfy themselves as to the condition of any lot prior to bidding. 

ENHANCEMENT
Prospective bidders should be aware that many coloured gems have been historically treated by a variety of methods to improve their appearance, both in terms of colour and transparency. Rubies and sapphires are routinely heat treated, emeralds are enhanced through the use of coloured and transparent oils and resins, and jadeite is routinely stained. These treatments, and others including irradiation and coating, are generally accepted by the jewellery trade as standard practice. Although most treatments are considered to be permanent, those gemstones which have been oiled may need to be re-treated to maintain their appearance. Any such treatments affect the market value of coloured gemstones, and Dreweatts pre-sale estimates published in the catalogue assume that all gemstones, unless otherwise stated in the catalogue, may have been enhanced. Dreweatts may obtain Gemmological Reports from a recognised laboratory where appropriate detailing any enhancements, or lack of, for certain gemstones, and such reports may be obtained for prospective bidders prior to the sale, provided such requests are made at least three weeks before the sale, and that the requesting party has prepaid for such a report. However it is not possible for Dreweatts to obtain reports for every stone offered in the sale. 

In the absence of a gemmological laboratory report, it is not possible for Dreweatts to make any comment on the possibility that any gemstone in any lot may have been subject to enhancement. 

Dreweatts catalogue descriptions and condition reports adhere to the guidelines laid out in the ‘Blue Book’ of CIBJO, the International Jewellery Confederation.  

WEIGHTS
All gram weights have been obtained using an electronic balance, but weights stated in the catalogue are approximate and for guidance only, and potential bidders should satisfy themselves as to their accuracy. 

‘…approximately 1.20 carats total,…’ all such stone weights are estimated using standard equipment and formulae, and are subject to the limitations imposed by the mount.

‘…weighing 1.20 carats,…’ where the description reads as such, the stones in question have been removed from the mount and weighted using an electronic balance. 

SIGNATURES

‘…by Lacloche,…’ in our opinion is a piece made by or for the jeweller, bearing relevant signatures, maker’s marks, and where appropriate, the maker’s inventory number/s.

‘…signed Lacloche,…’ in our opinion is a piece retained by the jeweller, but not necessarily made by them. This may also mean that the piece has been mounted by the jeweller using stones supplied by the client; a special commission from a client’s design; or has been altered or later added to.


COLOURED STONES OF BURMA (MYANMAR) ORIGIN
Buyers should be aware that certain territories (notably the United States of America) have import restrictions on certain coloured gemstones. All gemstones that maybe of Burma (Myanmar) origin, notably rubies and jadeite, may require a certificate of origin before they can be imported. prospective bidders for such gemstones should check with their shipper, and relevant Government authorities regarding any necessary certification prior to bidding. Whilst Dreweatts are able to suggest a number of Gemmological Laboratories for such certification, we are unable to carry out any such certification for potential bidders or buyers. 

LOT DESCRIPTION SYMBOLS GLOSSARY:

λ - Indicates that this lot may be subject to Droit de Suite royalty charges.

Y - Indicates that this lot may be subject to CITES regulations when exported.

† - Indicates that VAT is payable by the purchaser at the standard rate of 20% on the hammer price as well as being charged on the buyers’ premium.

Ɵ - Indicates that the lot is a zero rated item and therefore subject to buyer’s premium of 26% exclusive of VAT (0% VAT). 

‡ - Indicates that the lot is being sold whilst subject to temporary importation and that VAT is due at the reduced rate (5%). 

Ω - Indicates that the lot has been imported from outside the UK and is liable to the standard rate of Import VAT currently 20% on the hammer price.

β - Indicates that the lot is offered in Bond. This applies to wine. Bidding will be at duty paid prices other than for those lots marked ‘IN BOND/β’.  

Please see our Symbols Glossary and Terms & Conditions for more information.