Bidding Increments
| From: | To: | Increment: |
|---|
| RM0 | RM1,999 | RM100 |
| RM2,000 | RM4,999 | RM200 |
| RM5,000 | RM9,999 | RM500 |
| RM10,000 | RM19,999 | RM1,000 |
| RM20,000 | RM49,999 | RM2,000 |
| RM50,000 | RM99,999 | RM5,000 |
| RM100,000+ | | RM10,000 |
Condition of Business
Before bidding on-site, online at an ANTIQUE EMPIRE auction, you must read and accept the Terms and Conditions of Bidding. Read these terms carefully. When you sign your Bidder Registration Agreement or click the "accept" button online, you enter into a binding legal agreement with ANTIQUE EMPIRE.
Any information supplied by any employee of ANTIQUE EMPIRE, in any form , is intended solely as general guidance on the use of Online Bidding Services and the buying and RE-selling of lots at ANTIQUE EMPIRE.
ANTIQUE EMPIRE PROVIDES NO GUARANTEES OR WARRANTIES, EXPRESSED OR IMPLIED, STATUTORY OR OTHERWISE, OF ANY NATURE WHATSOEVER IN RESPECT OF THE LOTS OFFERED AT ANTIQUE EMPIRE. EACH AND EVERY LOT AT EVERY ANTIQUE EMPIRE IS SOLD "AS IS, WHERE IS." BIDDERS ARE STRONGLY ENCOURAGED TO INSPECT THE LOTS BEFORE PLACING BIDS.
Indemnification
You agree to indemnify, defend and hold harmless ANTIQUE EMPIRE and its employees, agents, affiliates, successors, officers, directors and assigns, from and against any and all claims, demands, losses, damages, liabilities, costs and expenses (including attorney fees) arising out of or relating to any claim or action based upon your use of Online Bidding Services or your breach of this Agreement.
All lots in the Catalog may be subject to a reserve (a confidential minimum price below which the lot will not ordinarily be sold). We as the Agent for Consignor may place bids during the auction if and when the highest outstanding bid at any time during the sale is below the reserve which may have been established on the lot being offered. Consignors are not allowed to bid on their own property.
Buyer's Premium
"Buyer's Premium" is the commission payable by the Buyer to The Edge Galerie calculated at ten percent (10%) on the Hammer Price or such other purchase price of the Lot sold.
5% Invaluable commission
Payment and Collection of the Lot
7. Payment and Collection of the Lot
Payment for the Lot
7.1 Unless agreed otherwise in writing, the Buyer shall pay the Total Amount Due to The Edge Galerie by cash, cheque, banker's draft or wire transfer in Ringgit Malaysia within seven (7) days after the Auction or any post-auction sale of the Lot, or such other time period prescribed by The Edge Galerie. Payment from the Buyer shall not be deemed to have been made until The Edge Galerie is in receipt of cash or cleared funds. All charges imposed by a bank or financial institution arising from or in connection with such payment including any processing fee assessed on any returned cheques shall be borne by the Buyer. Where requested by The Edge Galerie, payment shall be accompanied by appropriate identification of the Buyer including but not limited to his or her name, permanent address and other proof of identity. Further information on the payment method can be found in The Edge Galerie's 'Buyer's Guide'.
Collection of the purchased Lot
7.2 Unless agreed otherwise, the Buyer or its authorised representative (with a letter of authorisation from the Buyer) must collect the Lot, at the Buyer's expense from the premises of The Edge Galerie (or its appointed storage solution provider) within seven (7) days after the Auction or such other time period prescribed by The Edge Galerie.
7.3 The Lot shall only be released to the Buyer or its authorised representative (with a letter of authorisation from the Buyer) upon receipt by The Edge Galerie of the Total Amount Due in cash or cleared funds and appropriate identification of the Buyer or his authorized representative.
7.4 If the Buyer has paid the Total Amount Due but does not collect the Lot within ninety (90) days after the Auction date, the Buyer authorises The Edge Galerie to dispose of the Lot as it sees fit, at the sole discretion of The Edge Galerie which may involve offering the Lot for sale by auction or private sale on such price and terms as The Edge Galerie considers appropriate including those relating to estimates and reserves. All payments due from the Buyer to The Edge Galerie under or pursuant to these Conditions of Business which remain outstanding, including expenses incurred by The Edge Galerie for the storage, removal, insurance and any other costs or Taxes incurred for the storage and disposal of the Lot shall be deducted from the proceeds of sale. The Edge Galerie undertakes to hold to the Buyer's order the balance of the proceeds of sale received by The Edge Galerie in cleared funds less all storage, removal, insurance and any other costs or Taxes incurred, provided that if the Buyer does not collect such sum within (2) years of the Auction date (or the date of conclusion of any post-auction sale of the Lot to the Buyer), the Buyer shall be deemed to have waived all rights to such proceeds of sale and The Edge Galerie shall be entitled to retain such proceeds of sale to the extent permissible by law.
Shipping Terms
9. Packing, handling and shipping
9.1 The packing, handling and shipping of the Lots is also entirely at the Buyer's risk and expense. The Edge Galerie shall not be liable for acts or omissions of the packers, handlers or shippers including where its own employees or packers, handlers or shippers recommended by it, are involved in such packing, handling or shipping.
contract terms
23. Taxes
23.1 Where these Conditions of Business refer to an obligation to make payment by the Buyer or the Seller, the Buyer or the Seller (as applicable) shall be liable to pay the Taxes as required by law.
23.2 Unless otherwise stated, goods or services provided by The Edge Galerie pursuant to these Conditions of Business (including but not limited to the goods or services for which Buyer's Premium, Buyer's Expenses, Expenses, Seller's Commission, Seller's Expenses, Introductory Fees are payable) are subject to GST. The amount payable for such goods or services shall be increased by an additional amount on account of GST, such amount to be calculated as follows:
A x R
where:
A is the amount payable for the goods or services; and
R is the applicable rate of GST.
23.3 For avoidance of doubt, GST will be additionally payable by the Buyer on the Hammer Price of a Lot or such other purchase price of a Lot sold if such Lot is subject to GST. GST is applicable to a Lot if the said Lot is sold by a GST registered Seller, or a Seller that is required to be registered under the GST Act, or is imported from outside Malaysia into Malaysia for Auction or such other conditions as prescribed by the competent authorities. Wherever possible, a Lot which is subject to GST shall be marked with a [#] either in the Auction Catalogue and/or by way of notice posted in the sale room and/or by way of announcement during the Auction. The amount payable for such Lot shall be increased by an additional amount on account of GST, such amount to be calculated as follows:
A x R
where:
A is the Hammer Price of a Lot or such other purchase price of a Lot sold; and
R is the applicable rate of GST.
23.4 Subject to further changes to the GST Act affecting the operations of these Conditions of Business, The Edge Galerie reserves the right to amend these Conditions of Business unilaterally to give effect to the same, by way of notice to the parties.
contract terms
23. Taxes
23.1 Where these Conditions of Business refer to an obligation to make payment by the Buyer or the Seller, the Buyer or the Seller (as applicable) shall be liable to pay the Taxes as required by law.
23.2 Unless otherwise stated, goods or services provided by The Edge Galerie pursuant to these Conditions of Business (including but not limited to the goods or services for which Buyer's Premium, Buyer's Expenses, Expenses, Seller's Commission, Seller's Expenses, Introductory Fees are payable) are subject to GST. The amount payable for such goods or services shall be increased by an additional amount on account of GST, such amount to be calculated as follows:
A x R
where:
A is the amount payable for the goods or services; and
R is the applicable rate of GST.
23.3 For avoidance of doubt, GST will be additionally payable by the Buyer on the Hammer Price of a Lot or such other purchase price of a Lot sold if such Lot is subject to GST. GST is applicable to a Lot if the said Lot is sold by a GST registered Seller, or a Seller that is required to be registered under the GST Act, or is imported from outside Malaysia into Malaysia for Auction or such other conditions as prescribed by the competent authorities. Wherever possible, a Lot which is subject to GST shall be marked with a [#] either in the Auction Catalogue and/or by way of notice posted in the sale room and/or by way of announcement during the Auction. The amount payable for such Lot shall be increased by an additional amount on account of GST, such amount to be calculated as follows:
A x R
where:
A is the Hammer Price of a Lot or such other purchase price of a Lot sold; and
R is the applicable rate of GST.
23.4 Subject to further changes to the GST Act affecting the operations of these Conditions of Business, The Edge Galerie reserves the right to amend these Conditions of Business unilaterally to give effect to the same, by way of notice to the parties.
Conditions of Business
30. Binding Effect of these Conditions of Business
30.1 These Conditions of Business shall be binding on the heirs, personal and legal representatives, estates, successors-in-title and permitted assigns (where applicable) of the parties.
