Important Information | Dreweatts 1759 | Fine Champagne and Sparkling Wine (at Forum Auctions)

AUCTION NO: 14742

TUESDAY 19 NOVEMBER | 10.30AM GMT

Also taking place:

AUCTION FORMAT: LIVE ONLINE
This is a live online auction with an auctioneer. The auction will take place at 10.30am GMT at:

Forum Auctions
4 Ingate Place
London SW8 3NS

www.forumauctions.co.uk

Bidding is available online, by telephone or by commission bids through Dreweatts, or in person at Forum Auctions. 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.

REGISTRATION:
We advise clients to register at least 48 hours in advance of the auction as you may be asked to provide documents to verify your identity.

BUYER'S PREMIUM:
All purchases are subject to a buyer’s premium, which is 20% of the hammer price (24% including VAT). In the event that a lot has the symbol β beside the lot number in the catalogue, this indicates that the item is under Bond and if released for delivery to a UK address will additionally be subject to UK DUTY and VAT thereon at 20% on the hammer price.

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

VIEWING / CONDITION:
All wine and spirits are stored off-site. Images of lots for the purposes of condition can be viewed online and should be referred to prior to bidding. It is the responsibility of potential buyers to obtain any additional information (if any) on lots on which they intend to bid. Catalogue descriptions are for reference as to the contents of a lot and should not be relied upon as a statement as to the condition of a lot. Please note that Dreweatts are unable to give verbal condition reports for any lot, and all condition reports will be given in writing via our website.

No returns will be accepted. Each lot shall be at the Purchaser's risk from the conclusion of the auction until payment and collection are made.

DESCRIPTION OF THE LOTS:

Descriptions, ullages and conditions of wines are described as correctly as possible at the time of the publication of the catalogue. Purchasers of old wines must assure themselves regarding ullage levels, labels etc. No returns will be accepted.
Vintages: Where a vintage cannot be ascertained from a label, it may still be noted based on cork branding, cellar records or other corroborating evidence including other lots from the same source.
Bottle sizes are 75cl unless otherwise stated in the lot description.

ABBREVIATIONS USED IN THE CATALOGUE:
OWC: Original Wooden Case
WC: Wooden Case (non-original)
OCC: Original Cardboard Case

Abbreviations used in relation to the level of wines for Bordeaux style bottles:
Into Neck (IN)
Base of Neck (BN)
Very Top Shoulder (VTS)
Top Shoulder (TS)
High Shoulder (HS)
Mid Shoulder (MS)
Low Shoulder (LS)
Bottom Shoulder (BS)

IN BOND LOTS:
Bidding will be at duty paid prices other than for those lots marked 'IN BOND/β'. Dreweatts Wine Department will contact buyers who have purchased wine 'IN BOND/β' to ascertain if the wine is to be removed from bond or transferred to a bonded account. Buyers of wine to be removed from bond will be invoiced duty and vat on the hammer price at the prevailing rates. VAT will also be added to the buyer’s premium on lots purchased whether or not they remain ‘in bond’.

DUTY RATES - EFFECTIVE FROM 1 AUGUST 2023:
The regime for calculating duty rates on alcohol has fundamentally changed since 1 August 2023 and buyers are recommended to read the most up to date HMRC guidance: https://www.gov.uk/government/publications/changes-to-alcohol-duty-rates/alcohol-duty-rate-changes

Given that duty rates are now calibrated to the actual alcohol content within a beverage, it is not practical to set out the per bottle rates save that there is presently a concession for all still and sparkling wines in the 11.5% to 14.5% ABV range to have a simplified £2.67 (+VAT) per 750ml bottle duty applied, and this per bottle rate will apply pro rata for other bottle sizes and cases.

PAYMENTS:
An email with an invoice (including any additional charges for delivery and in bond lots) will be sent to you wiithin 48 hours of the conclusion of the auction.

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.
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.
Union Pay can only be used with the cardholder present.
In cash up to £8,000: subject to relevant money laundering regulations.

Please note:

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
We no longer accept payment by cheque.
To make a payment by telephone, please call: + 44 (0) 1635 553 527 or + 44 (0) 1635 553 594.
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.

STORAGE:
Wine and spirits offered for sale via Dreweatts are stored at LCB Eton Park (previously known as Vinotheque) in Burton-on-Trent:

Dreweatts
c/o LCB Eton Park
Derby Road
Derby Turn
Burton-on-Trent
DE14 1RY

Storage charges will apply for any lots not collected within 10 days of the sale: £2.50 per lot fixed charge and £0.20 per week or part week 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 Dreweatts. To arrange long term wine storage with Dreweatts, please contact the Dreweatts Wine Department.

COLLECTION:
Collection is possible from Newbury or LCB Eton Park in Burton-on-Trent. Please do not arrange to collect items without having paid online or by bank transfer beforehand.

Collection from LCB Eton Park, Burton-on-Trent
Collections can be made 5 days following the sale, Monday to Friday 9am to 4.30pm. Written notice is required 72 hours in advance of a collection, and all collections are subject to payment having been received by Dreweatts. Please note that LCB Eton Park are not able to deal with customers directly so all enquiries need to be referred to the Dreweatts Wine Department.

Collection from Dreweatts, Hambridge Lane
Collection from our Hambridge Lane warehouse is available 7-10 days following the sale and subject to a £5 per lot charge. Collection can be made Monday to Friday 9am-5pm.

DELIVERY AND TRANSFER:
Lots can be delivered to buyers via LCB Eton Park’s delivery service, charged at a minimum of £16 + VAT for up to 9 litres. Warehouse transfers can also be made within the LCB network and to all other UK warehouses. If you are planning on shipping wine to the EU, we kindly request you to make your own shipping/courier arrangements. For all other international shipments, please do not hesitate to contact the Wine Department.

Delivery arrangements should be confirmed when settling your account. Please contact Dreweatts Wine Department to obtain a quotation.

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.

To download a payment and shipping fact sheet, click here.

THINKING OF SELLING?
We are now welcoming consignments for our forthcoming Wine and Spirits Sales. For further details or a free auction valuation, please contact:

Dreweatts Wine Department
Dianne Wall
Tel: +44 (0) 1635 553 527
E-mail: wine@dreweatts.com

BIDDING INCREMENTS FOR THIS ONLINE AUCTION:
The online bidding increments prior to the 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	£100	£5
£100	£300	£10
£300	£600	£20
£600	£1,500	£50
£1,500	£5,000	£100
£5,000	£10,000	£200
£10,000	£20,000	£500
£20,000	£30,000	£1,000

LOT DESCRIPTION SYMBOLS GLOSSARY:

λ - Indicates that this lot may be subject to Artist’s Resale Right (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 buyer’s 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 import VAT at the reduced rate (currently 5%) calculated on the hammer price is due.

Ω - Indicates that the lot has been imported from outside the UK and that import VAT at the standard rate (currently 20%) calculated on the hammer price (inclusive of any applicable duty) is due.

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’.

NOTE: the import VAT charged for lots with symbols ‡ or Ω can be refunded if Dreweatts is instructed to re-export the property or if the VAT liability is transferred to another Temporary Admission authorisation.

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