Terms & Conditions
The terms and conditions of sale listed here contain
the policies of Gibson's Auctioneers & Valuers
Pty Ltd. They are the terms on which Gibson's
Auctioneers & Valuers Pty Ltd and the Seller
contract with the Buyer. They may be amended by
printed Saleroom Notices or oral announcements
made before and during the sale. By bidding at
auction you agree to be bound by these terms.
1. Background to the Terms used in
these Conditions
The conditions that are listed below contain terms
that are used regularly and may need explanation.
They are as follows:
"the Buyer" means the person with the highest bid
accepted by the Auctioneer
"the Lot" means any item depicted within the sale
for auction and in particular the item or items
described against any lot number in the catalogue.
"the Hammer price" means the amount of the
highest bid accepted by the auctioneer in relation
to a lot
"the Buyers Premium" means the charge payable by
the Buyer to the auction house as a percentage of
the hammer price.
"the Reserve" means the lowest amount at which
Gibson's Auctioneers & Valuers has agreed with the
Seller that the lot can be sold.
"Forgery" means an item constituting an imitation
originally conceived and executed as a whole, with
a fraudulent intention to deceive as to authorship,
origin, age, period, culture or source, where the
correct description as to such matters is not
reflected by the description in the catalogue.
Accordingly no lot shall be capable of being a
forgery by reason of any damage or restoration
work of any kind (Including re-painting).
"the insured value" means the amount that Gibson's
Auctioneers & Valuers in its absolute discretion
from time to time shall consider the value for which
a lot should be covered for insurance (whether or
not insurance is arranged by Gibson's Auctioneers
& Valuers.)
All values expressed in Gibson's Auctioneers &
Valuers Pty Ltd catalogues (in any format) are
in Australian Dollars (AU$). All bids, "hammer
price", "reserves", "Buyers Premium" and other
expressions of value are understood by all parties
to be in Australian Dollars (AU$) unless otherwise
specified.
2. Gibson's Auctioneers & Valuers
Auctions as Agent
Except as otherwise stated Gibson's Auctioneers &
Valuers Pty Ltd acts as agent for the Seller.
The contract for the sale of the property is
therefore made between the Seller and the Buyer.
3. Before the Sale
A) EXAMINATION OF PROPERTY
Prospective Buyers are strongly advised to examine
in person any property in which they are interested
before the Auction takes place. Neither Gibson's
Auctioneers & Valuers nor the Seller provides any
guarantee in relation to the nature of the property
apart from the Limited warranty in the paragraph
below.
The property is otherwise sold "AS IS"
B) CATALOGUE AND OTHER DESCRIPTIONS
All statements by Gibson's Auctioneers & Valuers
in the catalogue entry for the property or in the
condition report, or made orally or in writing
elsewhere, are statements of opinion and are not
to be relied upon as statements of fact. Such
statements do not constitute a representation,
warranty or assumption of liability by Gibson's
Auctioneers & Valuers of any kind. References
in the catalogue entry to the condition report to
damage or restoration are for guidance only and
should be evaluated by personal inspection by
the bidder or a knowledgeable representative. The
absence of such a reference does not imply that an
item is free from defects or restoration, nor does a
reference to particular defects imply the absence
of any others. Estimates of the selling price should
not be relied on as a statement that this is the
price at which the item will sell or it's value for any
other purpose. Neither Gibson's Auctioneers &
Valuers nor The Seller is responsible for any errors
or omissions in the catalogue or any supplemental
material.
Images are measured height by width (sight size).
Illustrations are provided only as a guide and
should not be relied upon as a true representation
of colour or condition. Images are not shown at a
standard scale. Mention is rarely made of frames
(which may be provided as supplementary images
on the website) which do not form part of the lot as
described in the printed catalogue.
Foreign buyers should note that all transactions
are in Australian dollars (AU$)so there may be a
small exchange rate risk. The costs associated
with acquiring a good certificate will be carried by
the purchaser. If the item turns out to be forged
or otherwise incorrectly described, all reasonable
costs will be borne by the vendor.
C) BUYERS RESPONSIBILITY
All property is sold "as is" without representation
or warranty of any kind by Gibson's Auctioneers
& Valuers or the Seller. Buyers are responsible for
satisfying themselves concerning the condition
of the property and the matters referred to in the
catalogue by requesting a condition report
4. At the Sale
A) REFUSAL OF ADMISSION
Gibson's Auctioneers & Valuers reserves the right
at our complete discretion to refuse admission to
the auction premises or participation in any auction
and to reject any bid.
B) REGISTRATION BEFORE BIDDING
Any prospective new buyer must complete and
sign a registration form and provide photoidentification
before bidding. Gibson's Auctioneers
& Valuers may request bank, trade or other financial
references to substantiate this registration.
C) BIDDING AS A PRINCIPAL
When making a bid, a bidder is accepting personal
liability to pay the purchase price including
the buyers premium and all applicable taxes,
plus all other applicable charges, unless it has
been explicitly agreed in writing with Gibson's
Auctioneers & Valuers before the commencement
of the sale that the bidder is acting as agent on
behalf of an identified third party acceptable to
Gibson's Auctioneers & Valuers and that Gibson's
Auctioneers & Valuers will only look to the principal
for payment.
D) INTERNATIONAL REGISTRATIONS
All International clients not known to Gibson's
Auctioneers & Valuers will be required to scan or fax
through an accredited form of photo identification
and pay a deposit at our discretion in cleared funds
into Gibson's Auctioneers & Valuers's account
at least 48 hours before the commencement of
the auction. Bids will not be accepted without
this deposit. Gibson's Auctioneers & Valuers also
reserves the right to request any additional forms of
identification prior to registering an overseas bid.
This deposit can be made using a credit card,
however the balance of any purchase price in
excess of $5,000 can not be charged to this
card without prior arrangement. This deposit is
redeemable against any auction purchase.
E) ABSENTEE BIDS
Gibson's Auctioneers & Valuers will use reasonable
efforts to execute written bids delivered to us
AT LEAST 24 Hours before the sale for the
convenience of those clients who are unable to
attend the auction in person. If we receive identical
written bids on a particular lot, and at the auction
these are the highest bids on that lot, then the lot
will be sold to the person whose written bid was
received and accepted first. Execution of written
bids is a free service undertaken subject to other
commitments at the time of the sale and we do
not accept liability for failing to execute a written
bid or for errors or omissions which may arise. It is
the bidder's responsibility to check with Gibson's
Auctioneers & Valuers after the auction if they
were successful. Unlimited or "Buy" bids will not
be accepted. Please refer to our indicative bidding
increments below for appropriate absentee bid
amounts (Section K).
F) TELEPHONE BIDS
Priority will be given to overseas and interstate
bidders. Arrangements for this service must be
confirmed AT LEAST 24 HOURS PRIOR to the
auction commencing. Gibson's Auctioneers &
Valuers accepts no responsibility whatsoever for
any errors or failure to execute bids. In telephone
bidding the buyer agrees to be bound by all
terms and conditions listed here and accepts
that Gibson's Auctioneers & Valuers cannot be
held responsible for any mis-communications in
the process. The success of telephone bidding
cannot be guaranteed due to circumstances
that are unforeseen. Buyers should be aware of
the risk and accept the consequences should
contact be unsuccessful at the time of Auction.
You must advise Gibson's Auctioneers & Valuers
of the lots in question and recommend a 'Cover
Bid' amount should there be any issues with
technology or communication via the telephone
number provided. Gibson's Auctioneers & Valuers
will advise Telephone Bidders who have registered
at least 24 hours before the auction of any relevant
changes to descriptions, withdrawals or any other
sale room notices.
G) ONLINE BIDDING
Gibson's Auctioneers & Valuers accepts no
responsibility for any errors, failure to execute bids
or any other miscommunications regarding this
process. It is the online bidder's responsibility to
ensure the accuracy of the relevant information
regarding bids, lot numbers and contact details.
H) RESERVES
Unless otherwise indicated, all lots are offered
subject to a reserve, which is the confidential
minimum price below which the Lot will not be
sold. The reserve will not exceed the low estimate
printed in the catalogue. The auctioneer may open
the bidding on any Lot below the reserve by placing
a bid on behalf of the Seller. The auctioneer may
continue to bid on behalf of seller up to the amount
of the reserve, either by placing consecutive bids or
by placing bids in response to other bidders.
I) AUCTIONEERS DISCRETION
The Auctioneer has the right at his absolute and
sole discretion to refuse any bid, to advance the
bidding in such a manner as he may decide, to
withdraw or divide any lot, to combine any two
or more lots and, in the case or error or dispute
and whether during or after the sale, to determine
the successful bidder, to continue the bidding, to
cancel the sale or to reoffer and resell the item in
dispute. If any dispute arises after the sale, then
Gibson's Auctioneers & Valuers's sale record is
conclusive.
J) SUCCESSFUL BID AND PASSING OF RISK
Subject to the auctioneer's discretion, the highest
bidder accepted by the auctioneer will be the
buyer and the striking of his hammer marks the
acceptance of the highest bid and the conclusion
of a contract for sale between the Seller and the
Buyer. Risk and responsibility for the lot (including
frames or glass where relevant) passes immediately
to the Buyer.
K) INDICATIVE BIDDING STEPS, ETC.
Gibson's Auctioneers & Valuers reserves the right
to refuse any bid, withdraw any lot from sale, to
place a reserve on any lot and to advance the
bidding according to the following:
Increment Amount Dollar Range
$20 $0-$500
$50 $500-$1,000
$100 $1,000-$2,000
$200 $2,000-$5,000
$500 $5,000-$10,000
$1,000 $10,000-$20,000
$2,000 $20,000-$50,000
$5,000 $50,000-$100,000
$10,000 $100,000-$200,000
$20,000 $200,000-$500,000
$50,000 $500,000-$1,000,000
Absentee bids must follow these increments and
any bids that don't follow the steps will be rounded
up to the nearest acceptable bid.
5. After the Sale
A) BUYERS PREMIUM
In addition to the hammer price, the buyer agrees to
pay to Gibson's Auctioneers & Valuers the buyers
premium. The buyer's premium is 22% of the
hammer price plus GST. (Goods and Services Tax)
where applicable.
B) PAYMENT AND PASSING OF TITLE
The buyer must pay the full amount due
(comprising the hammer price, buyers premium and
any applicable taxes and GST) not later than three
(3) days after the auction date.
The buyer will not acquire title for the lot until
Gibson's Auctioneers & Valuers receives full
payment in cleared funds, and no goods under
any circumstances will be released without
confirmation of cleared funds received. This applies
even if the buyer wishes to send items interstate
or overseas.
Payment can be made by the following means:
• Bank Transfer/Direct Deposit is our preferred
method of payment
Bank: Bank of Melbourne
Account Name: Gibsons Auctions Pty Ltd
BSB: 193 879
Account No.: 441701443
Swift Code: SGBLAU2F
Routing Code: 021000021
Bank Address: 197-201 Glenferrie Road,
Malvern, Vic, 3144
The buyer is responsible for any bank fees and
charges applicable for the transfer of funds into
Gibson's Auctioneers & Valuers's account
• Personal, Company and Bank Cheques are not
accepted without prior approval.
• Eftpos (no charge)
• Credit cards: Visa and Mastercard (1.2% incl
GST merchant fee) and American Express (3%
incl GST merchant fee)
Please note that credit card transactions
over $5,000 will not be accepted over the
telephone unless by prior arrangement.
• Cash up to AU$10,000 can accepted in
cash. For any amount over this, cash is to be
deposited directly into our account at a Bank
of Melbourne/St George branch
C) COLLECTION OF PURCHASES &
INSURANCE
Gibson's Auctioneers & Valuers is entitled to retain
items sold until all amounts due to us have been
received in full in good cleared funds. Subject to
this, the Buyer shall collect purchased lots within
two (2) days from the date of the sale unless
otherwise agreed in writing between Gibson's
Auctioneers & Valuers and the Buyer.
At the fall of the hammer, insurance is the
responsibility of the purchaser.
D) PACKING, HANDLING AND SHIPPING
At the request of the buyer, Gibson's Auctioneers &
Valuers may assist with packing of goods but takes
no responsibility for loss, damage or breakage that
may occur.
Gibson's Auctioneers & Valuers at the request
of the buyer may arrange for a carrier, packer or
shipper to have the property packed, insured
and shipped at the buyer's expense. All packing,
shipping, insurance, postage & associated charges
will be borne by the purchaser.
Gibson's Auctioneers & Valuers can assist with
removal companies that the buyer can use but
takes no responsibility whatsoever for the actions
of any recommended third party.
E) CULTURAL HERITAGE EXPORT LICENCES
Unless otherwise agreed by us in writing, the fact
that the buyer wishes to apply for an export licence
does not affect his or her obligation to make full
payment immediately, nor our right to charge
interest or storage charges on late payment. It
is the Buyer's responsibility to check Australia's
Protection of Moveable Cultural Heritage Act 1986
before purchase. If the Buyer requests Gibson's
Auctioneers & Valuers to apply for an export
licence then we shall be entitled to charge a fee for
this service. We shall not be obliged to rescind a
sale nor to refund any interest or other expenses
incurred by the Buyer where payment is made by
the Buyer in circumstances where an export licence
is not granted.
F) REMEDIES FOR NON-PAYMENT
If the Buyer fails to make full payment immediately,
Gibson's Auctioneers & Valuers is entitled to
exercise one or more of the following rights or
remedies (in addition to asserting any other rights
or remedies available under the law)
i) to charge interest at the ANZ visa credit
card rate as published weekly in the
Australian Financial Review
ii) to hold the defaulting Buyer liable for the
total amount due and to commence legal
proceedings for it's recovery along with
interest, legal fees and costs to the fullest
extent permitted under applicable law
iii) to cancel the sale
iv) to resell the property publicly or privately
on such terms as we see fit
v) to pay the Seller an amount up to the
net proceeds payable in respect of the
amount bid by the defaulting Buyer. In
these circumstances the defaulting
Buyer can have no claim upon Gibson's
Auctioneers & Valuers in the event that
the item(s) are sold for an amount greater
than the original invoiced amount.
vi) to set off against any amounts which
Gibson's Auctioneers & Valuers may owe
the Buyer in any other transactions, the
outstanding amount remaining unpaid by
the Buyer.
vii) where several amounts are owed by
the Buyer to us, in respect of different
transactions, to apply any amount paid to
discharge any amount owed in respect of
any particular transaction, whether or not
the Buyer so directs.
viii) to reject at any future auction any bids
made by or on behalf of the Buyer or to
obtain a deposit from the Buyer prior to
accepting any bids.
ix) to exercise all the rights and remedies
of a person holding security over any
property in our possession owned by the
Buyer whether by way of pledge, security
interest or in any other way, to the fullest
extent permitted by the law of the place
where such property is located. The Buyer
will be deemed to have been granted
such security to us and we may retain
such property as collateral security for
such Buyer's obligations to us.
x) to take such other action as Gibson's
Auctioneers & Valuers deem necessary or
appropriate
If we do sell the property under paragraph
(iv), then the defaulting Buyer shall be
liable for payment of any deficiency
between the total amount originally
due to us and the price obtained upon
reselling as well as for all costs, expenses,
damages, legal fees and commissions
and premiums of whatever kinds
associated with both sales or otherwise
arising from the default.
If we pay any amount to the Seller under
paragraph (v) the Buyer acknowledges
that Gibson's Auctioneers & Valuers shall
have all of the rights of the Seller, however
arising, to pursue the Buyer for such
amount.
G) FAILURE TO COLLECT PURCHASES
Where purchases are not collected within three (3)
days from the sale date, whether or not payment
has been made, we shall be permitted to remove
the property to a warehouse at the buyer's
expense, and only release the items after payment
in full has been made of removal, storage handling,
insurance and any other costs incurred, together
with payment of all other amounts due to us.
82 83
6. Extent of Gibson's Auctioneers &
Valuers Liability
Gibson's Auctioneers & Valuers agrees to refund
the purchase price in the circumstances of the
Limited Warranty set out in paragraph 7 below.
Apart from that, neither the Seller nor we, nor any
of our employees or agents are responsible for
the correctness of any statement of whatever kind
concerning any lot, whether written or oral, nor for
any other errors or omissions in description or for
any faults or defects in any lots. Except as stated
in paragraph 7 below, neither the Seller ourselves,
our officers, agents or employees give any
representation warranty or guarantee or assume
any liability of any kind in respect of any lot with
regard to merchantability, fitness for a particular
purpose, description, size, quality, condition,
attribution, authenticity, rarity, importance, medium,
provenance, exhibition history, literature or historical
relevance. Except as required by local law any
warranty of any kind is excluded by this paragraph.
7. Limited Warranty
Subject to the terms and conditions of this
paragraph, the Seller warrants for the period of
fourteen (14) days from the date of the sale that
any property described in this catalogue (noting
such description may be amended by any saleroom
notice or announcement) which is stated without
qualification to be the work of a named author or
authorship is authentic and not a forgery. The term
"Author" or "authorship" refers to the creator of the
property or to the period, culture, source, or origin
as the case may be, with which the creation of such
property is identified in the catalogue.
The warranty is subject to the following:
i) it does not apply where a) the catalogue
description or saleroom notice
corresponded to the generally accepted
opinion of scholars and experts at
the date of the sale or fairly indicated
that there was a conflict of opinions,
or b) correct identification of a lot can
be demonstrated only by means of a
scientific process not generally accepted
for use until after publication of the
catalogue or a process which at the date
of the publication of the catalogue was
unreasonably expensive or impractical
or likely to have caused damage to the
property.
ii) the benefits of the warranty are not
assignable and shall apply only to the
original buyer of the lot as shown on
the invoice originally issued by Gibson's
Auctioneers & Valuers when the lot was
sold at Auction.
iii) the Original Buyer must have remained
the owner of the lot without disposing of
any interest in it to any third party
iv) The Buyer's sole and exclusive remedy
against the Seller in place of any other
remedy which might be available, is the
cancellation of the sale and the refund of
the original purchase price paid for the
lot less the buyers premium which is non
refundable. Neither the Seller nor Gibson's
Auctioneers & Valuers will be liable for
any special, incidental nor consequential
damages including, without limitation, loss
of profits not for interest.
v) The Buyer must give written notice of
claim to us within fourteen (14) days of
the date of the Auction. The Seller shall
have the right, to require the Buyer to
obtain two written opinions by recognised
experts in the field, mutually acceptable
to the Buyer and Gibson's Auctioneers
& Valuers to decide whether or not to
cancel the sale under warranty.
vi) the Buyer must return the lot to Seller in
the same condition that it was purchased.
8. Severability
If any part of these Conditions of Sale is found by
any court to be invalid, illegal or unenforceable,
that part shall be discounted and the rest of the
Conditions shall continue to be valid to the fullest
extent permitted by law.
9. Copyright
The copyright of all images, illustrations and written
material produced by Gibson's Auctioneers &
Valuers relating to a lot including the contents of
this catalogue, is and shall remain the property at
all times of Gibson's Auctioneers & Valuers and
shall not be used by the Buyer, nor by anyone
else without our prior written consent. Gibson's
Auctioneers & Valuers and the Seller make no
representation or warranty that the Buyer of
a property will acquire any copyright or other
reproduction rights in it.
10. Law and Jurisdiction
These terms and conditions and any matters
concerned with the foregoing fall within the
exclusive jurisdiction of the courts of the state in
which the auction is held.
11. Pre-Sale Estimates
Gibson's Auctioneers & Valuers publishes with
each catalogue our opinion as to the estimated
price range for each lot. These estimates are
approximate prices only and are not intended to
be definitive. They are prepared well in advance of
the sale and may be subject to revision. Interested
parties should contact Gibson's Auctioneers
& Valuers prior to auction for updated pre-sale
estimates and starting prices.
12. Sale results
Gibson's Auctioneers & Valuers will provide auction
results, which will be available as soon as possible
after the sale. Results will include buyer's premium
(22% plus GST). These results will be posted at
www.gibsonsauctions.com.au.
13. Goods and Service Tax
In accordance with A New Tax System (Goods
and Services Tax) Act 1999 Gibson's Auctioneers
& Valuers Auctions will collect on behalf of the
Australian tax office (ATO) a Goods and Service Tax
(GST) of 10% on all applicable transactions.
GST is applicable on the hammer price in the case
where the seller is selling property that is owned by
an entity registered for GST. GST is also applicable
on the hammer price in the case where the seller is
not an Australian resident. These lots are denoted
by a dagger symbol † placed next to the estimate.
GST is also applicable on the buyer's premium.
Overseas buyers and buyers non-resident in
Australia will not be charged GST on both hammer
price and premiums under the following conditions:
1. The items are exported through a Gibson's
Auctioneers & Valuers approved freight
company including Australia Post
2. The items are exported within 60 days of the
date of the sale
The invoice supplied by Gibson's Auctioneers &
Valuers for purchases will be regarded as a Tax
invoice for GST purposes.
14. Resale Royalty Scheme
Lots subject to payment of the Resale Royalty
Scheme will be denoted by the §. The Australian
Resale Royalty is a flat rate of 5% on the hammer
price (including GST). The Australian Resale Royalty
is payable by the seller in addition to the vendor
commission plus any applicable GST.
15. Jewels & Watches
GEMSTONES
Gemstones have historically been subjected to a
variety of treatments to enhance their appearance.
Sapphire and rubies are routinely heat treated to
improve their colour and clarity, similarly emeralds
are frequently treated with oils or resin for the
same purpose. Other treatments such as staining
or dyeing, irradiation, filling or coating may have
been used on other precious and semi-precious
gemstones and organic material. These treatments
may be permanent, whilst others may need special
care to preserve their appearance. Buyers should
assume that each lot has been subject to some
form of treatment and that the estimates reflect
this.
A number of laboratories issue certificates that
give detailed descriptions of gemstones, and in
the event that Gibson's Auctioneers & Valuers has
been supplied with or obtained certificates for any
lot, this shall be noted in the catalogue. However,
as there may not be consensus between different
laboratories on the degree, or types of treatment
of the gemstones, Gibson's Auctioneers & Valuers
supplies these without warranty.
Buyers should assume that all gemstones sold
by Gibson's Auctioneers & Valuers may have
been subjected to such treatments, and that the
catalogue estimates reflect this.
PEARLS
Pearls, like gemstones, are also subject to various
treatments. Buyers should assume that any pearls
sold by Gibson's Auctioneers & Valuers may have
been subjected to such treatments, and that the
catalogue estimates reflect this.
WATCHES
Please note: All watches sold by Gibson's
Auctioneers & Valuers are sold on an "as is"
basis. Gibson's Auctioneers & Valuers makes no
representation or warranty that any watch is in
working order. Many watches have been repaired
over their lifetime and may contain non-original
parts. The absence of any reference to the
condition of a watch does not imply that the lot is
in good condition and without defects, repairs or
restorations. Buyers should be aware that a general
service, change of battery or further repair work,
for which the Buyer is solely responsible for, may
be necessary.
ESTIMATED WEIGHTS
If a stone has a known weight, it has been weighed
out of the mount. If a stone has an estimated
weight, it is an approximate weight only and
has been measured by us in the mount and is
a statement of opinion only. The information is
given as a guide only and Buyers should satisfy
themselves with regard to this information as to
its accuracy
