Attending the Physical Auction
These terms and conditions apply for all individuals attending and/or participating in Pfeffer’s Physical Auctions. They also apply for all Absentee bidders, telephone bidders and live online bidders unless specifically covered separately under their respective headings. The highest bidder shall on the fall of the hammer for a particular Lot be the successful purchaser and will be deemed to have entered into a binding contract (subject to the conditions set out below) with the Auctioneer as owner of the Lot in its own right or with the Auctioneer as the duly appointed agent of the owner (as the case may be). In the event of any dispute as to the bidding in respect of any Lot, the Auctioneer shall have absolute discretion to settle the dispute as sole arbitrator and his decision shall be final and binding.
The Auctioneer has the right to:
- To refuse any bids.
- To advance the bidding at his absolute discretion.
- To place a reserve on any Lot.
- To bid on behalf of any prospective purchaser with or without disclosure.
- To withdraw any Lot for sale, for any reason whatsoever including but not limited to if the Lot is incorrectly described, is incorrectly priced or is unavailable.
- To require a successful purchaser to pay forthwith the whole or part of any of the purchase price.
- To refuse any person or persons admission to or eject them from the auction site.
All bidders attending the room auction will be required to complete a registration form, upon entering the auction room, must be 18 years or older and permitted by law to enter into a legally binding contract. There is no cost incurred to become a registered bidder. This registration form requires completion of all fields by the bidder who warrants the accuracy of all information provided. Any false or misleading information provided by the bidder when completing the registration form will not reduce any obligation the Bidder has to the Auctioneer. Photo identification, such as a current driver’s license or valid passport will also be required when completing the registration form following which the bidder will be presented with a bidder card displaying a unique bidder number. Upon registering for the auction the Bidder does authorise the Auctioneer to utilise private and personal information obtained for the delivery of promotional material, compliance with the law, internal and administrative purposes.
The purchaser acknowledges that the Auctioneer acts as the agent of the owner of the Lot or as the owner of the Lot in its own right and as such neither the Auctioneer in either capacity (as the case may be) or the owner of the Lot shall be responsible for any defects or faults in respect of any Lot. All Lots are open for inspections prior to sale and it is the prospective purchaser’s sole responsibility to inspect such Lots prior to the commencement of the auction.
As from the fall of the hammer all risks in relation to the Lot passes to the successful purchaser notwithstanding that the title to the Lot sold remains with the owner until such time as payment for the Lot has been made in full.
No refunds or exchanges will be given over change of mind after the hammer has fallen and the item won by highest bidder. If however, within 7 days after the fall of the hammer the Auctioneer shall receive from the successful purchaser notice in writing accompanied by the written opinion of a competent expert or authority that the Lot purchased is not as described in the catalogue or as represented by the Auctioneer then the Auctioneer will within 7 days of receipt of such notification refund to the successful purchaser the full purchase price paid subject to the return of the Lot purchased in the same condition and state of repair including any certificates, packaging and other materials provided as at the time of the fall of the hammer and subject further to the Auctioneer being satisfied as to the validity of the claim.
All bids are deemed to be inclusive of GST (where applicable) or any other value added tax or goods and services tax. The successful purchaser in addition to payment of the amount of the successful bid will also be responsible for payment of a buyer’s premium of 15%. Payment is to be made by cash, Visa, MasterCard & American Express or any other payment method accepted by the Auctioneer.
Each Lot shall be paid for and removed at the expense of the successful purchaser, on the day that the sale takes place, or at the sole discretion of the Auctioneer a deposit of 10% will be accepted by the Auctioneer and must be paid by the successful purchaser on the day of sale and the balance due and owing must be paid to the Auctioneer and the Lots removed within the number of days following the auction as shall be nominated by the Auctioneer, generally a week from the auction. Failure of the successful purchaser to comply with this condition will be deemed a breach of the Contract whereupon the Auctioneer will be entitled to forfeit any deposit paid and to terminate the Contract
The purchaser understands that:
If the purchaser fails to pay as herein provided, the purchaser shall remain liable for the amount of the successful bid plus the buyer’s premium, until such payment is made in full, any deposit will be forfeited. Upon full settlement of the Lot, purchasers may collect their purchases at the auction location on the same day as the auction, arrange to collect them or arrange to have them shipped to a destination of the purchaser’s choice. The party named on the registration form shall be deemed to be the purchaser unless the Auctioneer is prior to the commencement of the auction provided with written evidence that the party is acting for and on behalf of a principal and shall supply the full name and address of the principal.
All affected parties agree that:
Fall of the hammer means such time as a purchaser has bid for a particular Lot and the Auctioneer has acknowledged that purchaser as being the successful purchaser at which time a binding contract subject to these terms and conditions has been entered into. Auctioneer means Pfeffer’s Auctions ABN 91 010 104 864 trading Pfeffer’s Auctions and any of its associated and subsidiary companies and entities or their duly appointed employees, servants and agents. Lot means any lot or lots for sale either individually or as a group at the Auctioneer’s sole discretion.
Each Lot in the catalogue is given a low and high auction estimate representing that range which, in the opinion of Pfeffer’s Auctions, represents a fair and probable auction value. When possible, the estimate is based on previous auction records of comparable property, condition, rarity & quality. The estimates are often determined several weeks before a sale and are therefore subject to change upon further research of the item, or to reflect market conditions or currency fluctuations. Estimates are subject to revision. Actual prices realised for items can fall below or above this range. An estimate of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose.
If for any cause a purchased Lot cannot be delivered in as good condition as at the time of sale, or should any purchased Lot be stolen or undelivered or lost prior to delivery, Pfeffer’s shall not be liable for any amount in excess of that paid by the purchaser.
The purchaser agrees that these Terms and Conditions and any claim and any dispute between the Auctioneer, purchaser or any other relevant party, shall be construed by the laws of the country in which the auction takes place, unless otherwise expressly nominated by the Auctioneer in its sole discretion.
The provisions contained in each Clause of these Conditions of Sale, and any part thereof, shall be enforceable independently of the remainder of these Conditions of Sale and its validity shall not be affected if any other part is invalid to any extent.