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“the Stated Rates” means Adam Partridge Ltd’s published rates of commission for the time being and VAT

“Special Goods” means boats, motor vehicles, firearms and mechanical and electrical goods “the Vendor” means the seller or prospective seller of any Lot “the Sale Proceeds” means the net amount due to the Vendor, being the Hammer Price less commission at the Stated Rates and Expenses and any other amounts due to Adam Partridge Ltd “the Reserve” means the minimum Hammer Price set by the Vendor at which a Lot may be sold and otherwise subject to Condition 12

“the Purchase Price” means the Hammer Price in pounds sterling together with any premium inclusive of VAT chargeable and additional charges and expenses due from a defaulting buyer under Condition 35 “Lot” means any item or items of any kind accepted by Adam Partridge Ltd with a view to its or their sale at auction “Hammer Price” means the price at which a Lot is knocked down by the Auctioneer to the Buyer. “Expenses” means Adam Partridge Ltd’s charges for illustrations, special advertising, insurance, import, packing and freight and any other expenses and VAT on these amounts. “Environmental Law” means all laws, regulations, codes of practice, circulars, guidance notices and the like (whether in the UK or elsewhere) concerning the protection of human health or the environment or the conditions of the work place or the generation, transportation, storage, treatment or disposal of Dangerous Substances. “Dangerous Substances” means any natural or artificial substance capable of causing harm to any living organism supported by the environment, or damaging the environment or public health or welfare. “the Catalogue” means any advertisement, brochure, price list or other publication relating to the auction published on behalf of Adam Partridge Ltd. “the Buyer” means the bidder (including a commission bidder under Condition 30) whom Adam Partridge Ltd has accepted by the fall of the auctioneer’s hammer. 1.1 In these conditions: “the Auctioneer” means the representative of Adam Partridge Ltd conducting the auction.