Terms & Conditions
Auction Regulations
Chapter 1 General Provisions Article 1: The client agrees to auction in accordance with the Tax Law, the Contract Law and the Auction Rules formulated by the auctioneer.
Article 2: These rules apply to auctioneers, clients, bidders and bidders participating in the company's auction activities. The parties participating in the company's auction must carefully read and abide by these rules, be responsible for all their actions in the auction, and bear the legal consequences. If any controversy or loss is caused by the client, bidder or successful bidder failing to read the rules carefully, all responsibility shall be borne by the client, bidder or successful bidder.
Article 3: In the event of any dispute over the provisions involved in the implementation of these rules, a lawsuit shall be filed in a Taiwan court or submitted to a Taiwan arbitration institution for arbitration.
Chapter 2 Provisions on the Client (Seller)
Article 1: When the client entrusts the company to auction its items:
1. The client must hold a valid identity card or passport and sign a contract for auction with the company.
2. If the client is a legal person or other organization, it shall sign a commissioned auction contract with the company on the basis of a valid registration document, a legal representative's identity certificate or a legal authorization certificate.
Withdrawn Lot
Article 15: At any time before the auction date, the client requesting the withdrawal of the auctioned goods shall send a written notice to the company stating the reasons and the company may agree to terminate the commissioned auction contract and withdraw the commissioned auctioned goods, but shall pay the following Cost:
1. Auction catalogs or other publications are not delivered for printing, and the company shall pay a penalty fee of 5% to the starting price.
2. If auction catalogs or other publications have been delivered for printing, the company shall pay a penalty fee of 10% of the starting price.
Article 16: The client shall not withdraw the commissioned bid on the day of the auction.
Article 17: If the buyer fails to pay after 30 days from the auction date, the transaction of the auctioned item shall be deemed to be unsettled, and the client shall withdraw the commissioned auctioned item, and the company shall treat it as unsettled , Only charge unpaid commission and catalog fee.
The company's decision powers Article 18: The company has full decision powers on the following matters:
1. Whether an auction item is suitable for sale by the company, and the place, date, conditions and method of sale.
2. Explain or comment on any auction item through auction catalogs or news media or other media.
3. Should any expert opinion be sought?
4. The order of the auction items in the catalogue, the size of the page, and the charging standards; the way in which the auction items are displayed at the pre-exhibition site; and the charging standards for various fees related to the auction items.
5. If the successful bidder fails to pay the full amount within 30 days from the auction date, the company has the right to cancel the transaction of the lot and the right to confiscate the security deposit. The successful bidder must pay the 20% commission loss of the lot price make up.
Auction revocation
Article 19: In any of the following circumstances, the company has the right to cancel the auction of any auction item at any time before the auction without any responsibility:
3. Once the client signs a commissioned auction contract with the company, he agrees to accept and abide by the provisions of this auction rule.
Article 2: All auction targets have a starting price. The starting price is expressed in New Taiwan Dollars (TWD). The starting price is determined by the company and the client through negotiation in the commissioned auction contract. Once the starting price is determined by both parties, neither party may change it without authorization. If the starting price is to be changed, the other party's consent should be obtained in advance. If the entrusted auction target is below the starting price, the client only has the right to calculate the hammer price based on the starting price, but it does not relieve the client of the obligation to pay commissions and pay various fees in accordance with regulations.
Article 3: When the client entrusts the company to auction its items, it will automatically authorize the company to make photos, catalogs, pictures and other forms of video products or publicize and publicize the items. If the auction target needs to be decorated, framed or framed, the client shall separately negotiate with the company, and the expenses incurred shall be borne by themselves in the proportion and manner agreed in the commissioned auction contract.
Warranty and compensation
Article 7: The client shall ensure that the source of the auction target it entrusts is legitimate, has complete ownership and disposition rights, is capable of countering any claims of any third party, and guarantees that the auction target is free from any claims, disputes and guarantees. At the same time, the client should also declare any flaws in the subject that it knows or should know.
Article 8: If the client violates the guarantee of the previous article, causing the claimant of the auction object to be claimed by the actual owner of the auctioned item or any third party claiming the right, the responsibility shall be borne by the client; When the bidder suffers a loss, the client shall be responsible for compensating all losses suffered by the company or the bidder as a result, and bear all costs and expenses incurred as a result.
Article 9: The client shall not bid for the auction item entrusted by him or himself, nor shall he hire others to bid on his behalf. Otherwise, they shall bear all consequences arising therefrom.
Insurance
Article 10: Unless the client has otherwise instructed in writing, after the client concludes an entrusted auction contract with the company and delivers the auction item to the company, the auction item will be automatically insured by the company's insurance. The agreed reserve price is limited.
Article 11: The client shall pay an insurance premium equivalent to one percent of the hammer price.
Article 12: The insurance period starts from the day when the company receives the auction item. If the auction object is concluded, the insurance period ends on the date when the buyer picks up the auction item, but the maximum period does not exceed sixty days from the auction date; if If the auction item is withdrawn, terminated or unsettled, the insurance period will end on the date when the client retrieves the lot, but the maximum period will not exceed 60 days from the auction date. If the buyer defaults on the payment, the auction item will be unsettled. If it is processed, the insurance period is extended to 60 days from the date on which the buyer receives a written notice from the company to retrieve the auctioned item. The company shall not be liable for any loss or damage to the auctioned goods beyond the above-mentioned insurance period.
Article 13: If the client informs the company in writing that it does not need to insure its auction items, all risks, including all damages and losses during the storage period of the company, shall be borne by the client.
Article 14: During the storage period of the auctioned products, due to natural factors such as natural wear, self-defects, potential defects, or natural factors such as oxidation, climate change, temperature change, humidity change, earthquake, tsunami or war or hostilities , Nuclear disaster, terrorist attack, sabotage and other irresistible man-made factors, such as damage, loss of the auctioneer, the company shall not be liable for compensation; accessories for any reason (such as decoration, mounting, frame, packaging, Glass, shaft head, etc.), the company will not be liable for damages.
1. The company has objections to the ownership or authenticity of the auctioned items.
2. A third party has objections to the ownership or authenticity of the auctioned goods and is able to provide relevant valid evidence materials. At the same time, it is willing to bear the corresponding liability for the legal consequences and all losses caused by the termination of the auction activities and deliver the guarantee in accordance with the company's regulations .
The relevant provisions for liquidated damages are deducted.
Article 29: If the entrusted bidding is unsuccessful, the company will return the deposit to the bidder in full.
Article 30: If the bidding client needs to cancel the bidding commission, it shall notify the company in writing no later than two days before the auction. Otherwise, the company has the right to execute the content of the original entrusted bidding, and the bidding client shall bear its consequences and responsibilities.
Article 31: If two or more bidders successfully bid for the same auction item with the same commission price, the company will first authorize the company to be a successful bidder.
Settlement and fees
Article 32: Bidders who successfully bid for an auction item become the winner of the auction item, and the bidder has the obligation to pay the purchase price to the company on the auction day. The purchase price is the transaction price plus a 20% commission on the transaction price. In the event of other expenses, such as the exit authentication fee, freight, mounting costs, etc., the successful bidder shall bear the costs.
Article 33: If the successful bidder has difficulty paying the entire purchase price on the auction day, he may pay a deposit equivalent to 30% of the transaction price on the auction day, and shall pay the remaining balance within seven days from the auction date Purchase price If the successful bidder is overdue, the successful bidder shall pay a late payment fee of three ten thousandths of the unpaid amount to the company; if the successful bidder fails to pay the remaining auction price within sixty days, The right to terminate this transaction, the deposit will not be returned to the successful bidder.
Article 34: All payments shall be made in NT dollars. Foreign currency payments are not accepted.
Collecting Lots
Article 35: After the successful bidder pays the purchase price in full, he can obtain the ownership of the auction item; the successful bidder must collect the purchased auction item within seven days from the date of payment of the entire purchase price. All the costs incurred due to the handling, storage, storage, insurance, etc. of the auctioned items overdue shall be borne by the successful bidder, and all risks such as damage and loss of the auctioned goods shall be borne by the successful bidder.
Deal processing
Article 36: After the auction, if the successful bidder fails to pay the entire purchase price to the company, the company will not be responsible for paying or advancing the sale proceeds to the client. If the successful bidder has paid the company the entire purchase price of the auction target, the company shall pay the client the proceeds of the sale in NT dollars within 30 days of receiving the entire purchase price.
Article 37: After the auction is completed, unless the client and the company have another agreement, the client authorizes the company to deduct the commission at 10% of the transaction price (drop hammer price) and deduct other prescribed fees .
Article 38: The sale proceeds received by the client shall be taxed to the government and the auctioneer shall withhold and pay.
Unsettled
Article 39: If the auction item fails to be auctioned or the auctioneer cancels the auction, the client shall retrieve the auction item (shipping charges) within 15 days from the auction date and terminate the entrustment contract. The auctioneer does not charge any fees and assumes no responsibility.
Forty: If the lot fails to be sold after the lot is sold, the client shall use the entrusted contract to retrieve the lot within 15 days from the auction date (the freight is at his own expense) and pay the company unpaid commissions and plans at 3% of the starting price. Recording fees and other prescribed fees.
Article 41: Although the auction item has been set, the successful bidder clearly stated that he did not pay the purchase price or failed to pay the entire purchase price to the company after the sale date more than 15 days, which constitutes an violation.
3. Objection to the statement made by the client or the accuracy of the client's guarantee. 4. There is evidence that the principal has violated or is about to violate any provision of these rules. 5. There are any other reasonable reasons.
Chapter 3 Provisions on Bidders and Winners
Article 20: Bidders who participate in the company's auction activities should complete the bidding procedures with the company before the auction date, including completing the necessary registration procedures, delivering a bidding plate deposit of NT $ 500,000, receiving a bidding plate, etc. to obtain a bid. right. Once the bidder has obtained the bidding right, he / she agrees to accept and comply with the provisions of this auction rule.
Article 21: The specific amount of the security deposit shall be announced by the company before the auction day. If the bidder fails to purchase the auction item, the above-mentioned deposit will be returned to the bidder in full without interest. If the bidder becomes the bidder after the successful bidding, the deposit will be automatically converted into a part of the deposit of the auctioned item. This deposit Non-refundable until the successful bidder pays all purchase price.
Article 22: If the bidder is a natural person, he shall complete the bidding procedures with an effective ID card or passport before the auction date; if the bidder is a legal person or other organization, he shall present a valid registration document and authorization before the auction date. , The client's identity certificate, etc. for bidding procedures.
Article 23: The company does not assume any warranty responsibility for the authenticity, quality and defects of the auction items. The company's auction catalogs, promotional materials, and promotional articles are only reference materials, and do not represent or represent Undertake any guarantee responsibility for the auction items. Bidders or their agents should personally review the originals of the auctioned items by identification or other means before the auction date, and have the responsibility to fully understand the actual situation of the auctioned items to be bid on their own, and bear the law for their bidding for any auctioned items responsibility.
Live auction
Article 24: When a bidder raises a bidding plate in an auction, he accepts the price at that time. The bidder shall be responsible for the bid price at any price. Once the auctioneer determines that the bidder is the highest bidder, This means that the transaction has been concluded. The bidder must not regret it and should sign the confirmation of the transaction, otherwise he shall bear all legal liabilities arising therefrom.
Article 25: The confirmation of the transaction is made in triplicate. The confirmation of the transaction is the voucher that the bidder proves that he is the successful bidder of a certain auction product. It should be properly kept and must not be lost or transferred, otherwise all the consequences shall be borne by the bidder.
Article 26: The bidding plate is a sign of bidders and bidding rights, and shall be properly kept. If lost or transferred, all consequences shall be borne by the bidders.
Entrusted bidding
Article 27: Bidders shall attend the auction in person. If you are unable to attend in person, you can entrust the company to bid on your behalf, and the company has the right to decide whether to accept the above entrustment. The bidder shall issue or fax a written power of attorney to the company three days before the auction, and fill in the information such as the name, catalog number, maximum bid price, etc. of the bidding product that is entrusted to bid.
Article 28: The bidder shall pay a security deposit of NT $ 500,000 to the company three days before the auction day. The bidder shall pay the balance of the entire purchase price to the company within seven days after the successful bidding, otherwise the company has the right to cancel the transaction and deposit the deposit according to
The company has the right to decide to cancel the transaction, deal with the unsettled transaction and notify the commission in writing.
The company has the right to decide to cancel the transaction, treat it as unsettled and notify the trustee in writing. Within 7 days from the date of written notice, the client shall retrieve the auction item (transportation
Trustee. Within 7 days from the date of receiving the written notice, the client shall retrieve the auction item (the freight shall be at his own expense) and terminate the commission contract. The auctioneer does not charge any fees
At your own expense), and terminate the commission contract. The auctioneer does not charge any fees and assumes no responsibility at any time. But the client must not interfere with the auctioneer's reservation to hold the buyer liable for breach of contract
Take any responsibility. However, the client must not interfere with the auctioneer's right to hold the buyer liable for breach of contract.
Right of appointment.
Article 42: The client has not recovered the commission within the time limit specified in Articles 28 and 29 above.
Article 42: The client has not retrieved the entrustment within the time limit specified in Articles 28 and 29 above. The auctioned items are overdue to pay the storage fee to the company at two thousandths of the daily reserve price;
The auctioned items are overdue and paid to the company at two-thousandths of the reserve price each day. The trustee shall exceed the period specified in Articles 28 and 29 above for 2 months.
If the person exceeds the time limit stipulated in Article 28 and Article 29 above for two months and the client has not recovered the entrusted auction item, the company has the right to use public auction or other means of sale to
If the entrusted auction item is not retrieved, the company has the right to re-sell.
