Terms of Sale
Conditions of Sale
The following Conditions of Sale govern the terms upon which Auctionata, Inc. ("Auctionata") and the Seller contract with the bidders and buyers. These conditions may be amended by notices posted at www.auctionata.com or by oral announcements made during the sale, whether at auction or via the Online Shop. All prospective buyers should review these Conditions of Sale carefully before bidding at auction or making offers via the Online Shop. Auctionata may be referred to in these Conditions of Sale as "we", "us", and "our"; bidders and buyers may be referred to as "you" and "your".
1. Introduction
1.1 All Property offered for sale and sold is subject to (a) these Conditions of Sale; (b) additional notices and terms posted in other places on our website at www.auctionata.com; and (c) supplements to these Conditions of Sale and additional notices and terms in other places, in each case as amended by any addendum or announcement we make prior to or during any sale of the Property.
1.2 Auctionata will offer the Property for sale as agent for the Seller, unless otherwise indicated prior to or during the sale.
1.3 By bidding at auction or making an offer via the Online Shop, whether directly, through an agent, by written bid, by telephone bid or any other means permitted under these Conditions of Sale by us, bidders and buyers agree to be bound by these Conditions of Sale, as may be amended or supplemented.
1.4 These Conditions of Sale, as so amended or supplemented, contain all the terms on which Auctionata and the Seller contract with the buyer.
2. Descriptions and Condition of the Property
2.1 Property offered for sale is subject to the Limited Warranty as described in Section 12 of these Conditions of Sale, unless the description is amended or supplemented, as provided in Section 1. We do not provide any guarantee with respect to the Property except as otherwise provided under the Limited Warranty. The Property is sold "As Is."
2.2 Property is offered in the condition that it is in at the time of sale on the following basis:
(a) You acknowledge and accept that our knowledge in relation to any Property is dependent, in part, upon information provided to us by the Seller, and we are not able to and do not carry out exhaustive due diligence on all Property. Notwithstanding the foregoing, we shall exercise reasonable care when making express statements about the Property.
(b) All lots are available for inspection upon request and we encourage you to inspect the Property before making an offer or bidding. We accept bids and offers on the basis that you have inspected the lot prior to the sale and have satisfied yourself with respect to the condition of the Property and the accuracy of its description.
(c) All statements we make with respect to the Property (whether oral or written, in any auction catalogue, Online Shop description, condition or other report, commentary or valuation, or elsewhere) are statements of opinion and are not to be relied upon as statements of fact. The opening bid for Property offered for sale at auction ("Starting Price") and the listed sales price for Property offered for sale via the Online Shop ("Offering Price") may not be relied on as a statement of the value of the Property or of any opinion of the value of the Property. We and the Seller shall not be liable for any difference between the Starting Price or Offering Price for any Property, and the actual price the Property is sold.
(d) Descriptions of the Property may refer to particular damage, defects, imperfections, or restoration. Such references are for guidance only. The absence of any such reference shall not imply that an item is free from particular characteristics or any other faults not expressly referred to in any description. All dimensions are approximate. Illustrations are for identification purposes only and should not be used as precise indications of size or to convey full information as to the actual condition of the Property. We and the Seller are not responsible in any way for errors and omissions in any descriptions, or in any supplemental material concerning the Property. Descriptions and statements concerning the Property are further subject to our Limited Liability, as described in Section 11.
Bids and Offers
3.1 Prospective Buyer Registration and Participation
Whether intending to purchase Property for sale at auction or via the Online Shop, you must register and provide identification prior to making an offer in the Online Shop or bidding at auction.
We have absolute discretion to refuse your participation in any sale of the Property. In addition, we have absolute discretion to reject any offer or bid that you make
3.2 Prospective Buyer's Liability
If you make a bid at auction or an offer in the Online Shop you accept personal liability to pay the Purchase Price as described in Section 4.1, and all applicable charges, including, but not limited to, shipping, storage, and insurance, unless otherwise explicitly agreed in writing with you or other individual acting on behalf of an entity or other identified third party acceptable to us, and that we will only look to the principal for payment.
3.3 Absentee Bids at Auction
You may ask us to execute bids at auction on their behalf ("absentee bid"), which shall be subject to the following:
(a) We have sole discretion to accept or reject any request to execute an absentee bid, and we may cancel any such bid placed up until the winning bid is accepted. We will not accept unlimited absentee bids from you.
(b) We must receive requests for absentee bids at least 24 hours in advance of the auction.
(c) Arranging and executing absentee bids is a free service that we provide to you. While we will exercise reasonable care in undertaking such activity, we do not accept liability for failing to execute an absentee bid, or for errors and omissions in connection with it.
(d) Absentee bids are restricted to the Property and to the maximum bidding price for such Property that you specify in writing. The maximum bidding price is the maximum price you authorize us to bid, and if accepted as the winning bid, it will be included in the Purchase Price that you agree to pay for the Property. The maximum bidding price shall not be lower than the Starting Price and shall only constitute the Purchase Price (i.e., ultimate winning bid price), excluding the buyer's premium, costs of shipping and shipping insurance, any artists' rights royalty or applicable sales taxes. We shall charge for these additional costs and expenses separately. We will only bid up to the maximum bid price if there is another bidder. If no one else bids on the relevant Property, your bid will automatically be accepted at the Starting Price.
(e) In the event that we receive identical absentee bids, the earliest one that we receive will take precedence.
(f) If, despite having submitted an absentee bid, you wish to bid simultaneously in person (i.e., in the virtual auction room), or by telephone, for example, you must notify us in writing at least 24 hours before the commencement of the auction. In such case, we will treat the notification as a cancellation of the purchase order, which may be subject to a cancellation fee. Should you fail to notify us in accordance with the preceding sentence, we shall have the right to comply with the purchase order.
(g) If any absentee bid results in the winning bid, you agree to enter into a purchase agreement resulting from that bid.
3.4 Telephone Bids at Auction
You may ask us to execute bids at auction on your behalf by telephone ("telephone bid"), which shall be subject to the following:
(a) Telephone bidding is available only for lots whose Estimated Value is at least $1,000. We have sole discretion to accept or reject any request to execute a telephone bid, and we may cancel any telephone bid up until the winning bid is accepted.
(b) Arranging and execution of telephone bids is a free service that we provide to you. While we will exercise reasonable care in undertaking such activity, we do not accept liability for failing to execute a telephone bid, or for errors and omissions in connection with it.
(c) We must receive requests to bid by telephone at least 24 hours before the auction begins. You may cancel your telephone bid at least 24 hours before the auction begins. If you cancel less than 24 hours before the auction begins, or after he auction has begun, we may charge a cancellation fee. Any cancellation must be made in writing.
(d) Before the auction begins, we will attempt to contact you by telephone at the contact number you provide when you register. If we are unable to contact you after reasonable efforts to do so, we will execute your bid as if it was an absentee bid, and we will place bids up to the Starting Price. If no one else bids on the specified Property, your bid will automatically be accepted at the Starting Price.
(e) The winning bid, even if at the Starting Price, shall constitute the Purchase Price, excluding the buyer's premium, costs of shipping and shipping insurance, any artists' rights royalty or applicable sales taxes. We shall charge for these additional costs and expenses separately.
(f) We reserve the right to require written confirmation of a successful bid from a telephone bidder immediately after the bid is accepted. Telephone bids may be recorded, and by bidding by telephone, you consent to the recording of the conversation.
3.5 Employee Bidding
Employees of Auctionata may bid at auction or submit an offer via the Online Shop by placing absentee bids provided that they do not know the reserve when submitting their absentee bids and otherwise comply with out employee bidding procedures.
3.6 Reserves & Sales at Auction
(a) All Property offered at auction will be sold subject to a reserve, which unless we announce otherwise, the auctioneer will use as the Starting Price for bids at auction. The reserve will not exceed the Estimated Value of the Property as stated in the auction catalogue.
(b) Subject to our discretion as otherwise described in these Conditions of Sale, the bidder who places the highest bid will be the buyer, and the striking of the auctioneer's hammer marks the acceptance of the highest bid and the conclusion of a contract for sale between the Seller and buyer. If there is only one bid for the Property during the auction, the winning bid price shall be the Starting Price. If there are no bids received before or during the auction, we can offer the Property for sale via the Online Shop for a post- auction sale. Any such post-auction sale in the Online Shop shall incorporate these Conditions of Sale. Risk and responsibility for the lot passes you as set forth in Clause 4.4 below.
(c) The final sales price for Property sold at auction shall consist of the following: winning bid price, buyer's premium, costs of shipping to the buyer, shipping insurance, any artists' rights royalty, and sales taxes, if applicable
3.7 Offering Price & Sales via the Online Shop
(a) The Offering Price for any Property offered for sale via the Online Shop is comprised of the following: Estimated Value, buyer's premium, costs of shipping to the buyer, shipping insurance, and any applicable sales tax.
(b) You have the opportunity to submit to us a counteroffer to the Offering Place, which we shall be entitled to accept or reject in our discretion, or as otherwise agreed by Auctionata and the Seller.
(c) The final sales price for Property sold via the Online Shop shall consist of the Offering Price, or the counteroffer that we accept.
3.8 Certain Discretionary Matters
(a) In addition to the discretion otherwise described in these Conditions of Sale, we have absolute discretion at any time to reject any offers or bids, advance the bidding, withdraw or divide any lot of Property, combine any lots of Property, cancel the sale, or re-offer and re-sell the Property (including after we accept your offer to purchase Property in the Online Shop, or after the fall of the hammer for Property bid at auction) if we believe there is or may be error or dispute, and we may take such other action we deem reasonably appropriate. We shall have no liability whatsoever for any such action taken by our employees conducting the sale of Property at auction or via the Online Shop.
(b) The individual with the highest offer or bid that we acknowledge will be the buyer. Notwithstanding the preceding sentence, in the case of error or dispute with respect to bidding, whether during or after the sale,
we may determine the successful bidder. Should any dispute arise after the sale, our sale record is conclusive.
Shipping Terms
4.1 Release of Property
We will not release any Property to you until we have received full and cleared payment of the Purchase Price, any outstanding amounts you owe us, and you have satisfied such other terms as we in our sole discretion shall require, including, but not limited to, appropriate identification from you or your authorized representative. Subject to your satisfying all of the foregoing conditions, you shall be responsible for collecting the purchased Property within five business days after Auctionata's receipt of good, cleared funds, unless we otherwise agree in writing.
4.2 Assistance with Collection
We will, upon your request and at your expense, either provide packing, handling, insurance and shipping services or coordinate with shipping agents instructed by the buyer, to help facilitate such services for the purchased Property. Any such instruction, whether or not made at our recommendation, is entirely at your risk and responsibility, and we will not be liable for acts or omissions of third party packers and shippers.
4.3 Failure to Collect
If you fail to collect the purchased Property within five days after the date of the sale, even if we otherwise agree in writing that the Property may remain at our facility for longer than five days, we may charge storage fees with respect to the Property, as further described in the current Overview of Fees, which may be found on our website. We may also charge handling, insurance, and any other costs incurred with respect to purchased Property that is not collected within five days after the sale.
4.4 Resale of Uncollected Purchases
If purchased Property is paid for but not collected within three months of the sale, you authorize us , upon notice to you, to arrange a resale of the item, at auction, via the Online Shop, or by private sale, with Estimated Values and reserves to be set at our discretion. The proceeds of the sale will be applied to pay for storage charges and any other outstanding costs and expenses owed to us, and the remaining amount will be deemed abandoned by you unless you collect it within two years after the date of the sale.
