Seller Terms & Conditions

1. Introduction

These Terms and Conditions govern the relationship between GLD Commercial Auctions (“GLD”, “we”, “our”, or “us”) and any individual or business (“Seller”) instructing us to market and sell assets through our online auction platform.

By instructing GLD to sell an asset, the Seller agrees to these Terms.

2. Seller Authority

The Seller confirms that:

• They are the legal owner of the asset, or have full authority to sell it.
• All information supplied is true and accurate.
• The asset is free from undisclosed finance or legal restrictions unless clearly declared.
• They will provide any documents reasonably requested by GLD.

3. Inspection

GLD may inspect the asset before listing.

Our inspection is intended to assist with marketing and does not constitute a mechanical inspection or guarantee of condition.

The Seller remains responsible for the accuracy of all information provided.

4. Photographs & Marketing

The Seller authorises GLD to:

• Photograph and video the asset.
• Prepare descriptions.
• Advertise the asset on our website and third-party marketing channels.
• Use images and descriptions for future marketing purposes.

5. Reserve Price

Where agreed, a reserve price will be set before the auction begins.

The reserve cannot normally be changed once bidding has commenced.

6. Seller Responsibilities

The Seller agrees to:

• Maintain the asset in substantially the same condition.
• Make the asset available for collection once sold.
• Notify GLD immediately of any material change.

7. Withdrawal of Lots

Once an asset has been advertised or entered into auction, it must not be sold privately or withdrawn without GLD’s written agreement.

GLD reserves the right to charge reasonable costs where significant marketing work has already been undertaken.

8. Successful Sale

When the auction closes:

• GLD will notify the Seller.
• The Buyer must complete payment within the stated payment period.
• Collection may only take place after written authorisation from GLD.

9. Payment to Seller

Following:

• receipt of cleared funds,
• successful collection,
• and completion of any required documentation,

GLD will pay the Seller by bank transfer within the agreed payment period.

10. Commission

Commission and any agreed charges will be deducted from the sale proceeds before payment is made.

Applicable VAT will be charged where required by law.

11. Unsold Assets

If an asset fails to sell, GLD may:

• offer the next highest bidder (where appropriate),
• recommend re-entering a future auction,
• discuss alternative sale options.

12. Seller Warranties

The Seller warrants that:

• descriptions are accurate,
• mileage or hours are genuine to the best of their knowledge,
• no known defects have been deliberately concealed,
• they have legal authority to sell.

13. Liability

GLD acts solely as an auction agent.

GLD shall not be liable for:

• loss of profit,
• indirect losses,
• mechanical failures,
• transport damage after authorised collection,
• inaccurate information supplied by the Seller.

14. Fraud Prevention

GLD reserves the right to:

• verify ownership,
• request identification,
• request proof of address,
• carry out anti-fraud checks,
• refuse or cancel listings where fraud is suspected.

15. Data Protection

Personal information will be processed in accordance with our Privacy Policy and UK data protection legislation.

16. Governing Law

These Terms are governed by the laws of England and Wales.

Any disputes shall be subject to the exclusive jurisdiction of the courts of England and Wales.

GLD Commercial Auctions

Email: admin@gldcommercialauctions.co.uk

Telephone: 1342 621052

Website: www.gldcommercialauctions.co.uk