These Terms and Conditions govern all auction sales conducted by Charleston’s Fine Art Auctions Pty Limited ABN 68 079 537 670 (“CA” or “auctioneer“).
1. Registration – Any prospective purchaser bidder at an auction conducted by CA must register with the auctioneer if they plan to bid at any auction. They must duly complete and sign a “Bidder Registration Form” and receive a Bidding Card in order to participate in any auction.
2. Agency – The party named on the Bidding Card shall be taken to be the purchaser in its own right and shall not be taken to be acting on behalf of any other person or entity unless, prior to the commencement of the auction, the auctioneer is 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. Such evidence shall include a written authority from the principal on terms acceptable to the auctioneer authorising the said person to bid on its behalf.
3. Auctioneer as agent or owner of Lots – The purchaser acknowledges that in some cases the auctioneer acts as the agent of the owner of a Lot and in other cases, Lots may be owned wholly or partially by the auctioneer and/or an entity or person related to the auctioneer.
4. Inspection of Lots – All Lots are open for inspection prior to sale at the times and places as advertised by the auctioneer. Prospective purchasers are encouraged to examine Lots thoroughly and it is the sole responsibility to inspect such Lots prior to the commencement of the auction. On the fall of the hammer the purchaser shall be taken to have carried out all reasonable investigations and enquiries in relation to the Lot purchased. Without limitation this shall include a thorough review of any Lot description in any auction catalogue printed by the auctioneer for the purposes of the subject auction as well as a physical inspection of the state of repair and condition of the Lot purchased. Each Lot shall be purchased on an “as is” basis, in its state of repair and condition as at the time of the fall of the hammer. Neither the auctioneer nor the owner of the Lot makes any express or implied warranty as to the condition of any Lot offered for sale, and no statement made by or on behalf of the auctioneer at any time either before or during the auction (whether oral or written) shall be taken to constitute such a warranty or representation. To the maximum extent permitted by law, neither the auctioneer nor the owner of the Lot shall be responsible for any defects or faults in respect of any Lot.
5. Conduct of the auction – The auctioneer retains the absolute discretion to control the auction process at all times. Without limitation the auctioneer may: (a) refuse any bids; (b) change the order of sale of the Lots; (c) advance the bidding at his absolute discretion; (d) place a reserve at any Lot; (e) bid on behalf of any prospective purchaser with or without disclosure; (f) place a bid or bids on behalf on the owner; (g) withdraw any Lot from the sale; (h) offer a Lot for re-sale in the event of any dispute; (h) require a successful purchaser to pay forthwith the whole or part of any purchase price; (i) refuse any person or persons admission to or eject them from the auction site; (j) forbid any party from photographing any of the Lots or recording an auction; and/or (k) take bids from absentee bidders participating by telephone bid or by written bid left with the auctioneer. 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.
6. The purchaser shall be the highest bidder – The highest bidder shall on the fall of the hammer for a particular Lot be taken to be the successful purchaser and will be taken 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).
7. Buyer’s Premium and GST – All bids are taken to be inclusive of GST payable. 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 equivalent to 19.8% (inclusive of GST) of the amount of the successful bid for the Lot. Such a buyer’s premium shall be payable at the same time and in the same manner as the hammer price is paid for the Lot.
8. Passing of risk and retention of title – 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. The auctioneer does not provide insurance cover for purchasers. Purchasers should arrange their own “all risks” insurance cover with effect immediately after the auction.
9. Method of Payment – Payment is to be made on the auction date. Payment is to be made by cash, Visa, MasterCard, Bankcard, American Express, Diners Club and EFTPOS. A 2% surcharge is applicable for payments by both Amex & Diners Cards. Personal and company cheques will be accepted as long as 3 major forms of identification are provided at the time by the successful purchaser. Other forms of identification may be required at the discretion of the auctioneer. If payment is made by cheque or electronic funds transfer the auctioneer has the discretion to hold the merchandise until the cheque is cleared or the receipt of funds has been verified (as the case may be) and if the cheque exceeds a pre determined amount.
10. Penalty Interest – If a purchaser fails to pay for a Lot by the due date then penalty interest at the rate of 17% per annum will be charged on the unpaid balance until paid in full. Such interest shall be calculated on a daily basis.
11. Refunds and exchange – To the maximum extent permitted by law, all sales are final and no refunds or exchanges will be given under any circumstances. Notwithstanding if after the fall of the hammer, and within the period of 5 years after the date of the auction, 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 auctioneer’s catalogue or as represented by the auctioneer will within 14 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 at the time of the fall of the hammer and subject further to the auctioneer being satisfied as to the validity of the claim.
12. Removal of Lots – Each Lot shall be paid for and removed from the place of the auction at the expense of the successful purchaser, on the day that the auction sale takes place. The auctioneer may in its discretion at the request of a purchaser allow the purchaser to collect and/or pay for any Lots purchased at a later date. Any such extension of time shall be at the discretion of the auctioneer and shall only be agreed to in writing. In the event that an extension of time is permitted by the auctioneer, a deposit of 20% will be required to be paid to the auctioneer 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 by 12.00 noon on the day after the auction. Failure of the successful purchaser to pay and/or collect the Lots purchased by the due date will be deemed a breach of this agreement and the auctioneer will be entitled to forfeit the deposit paid and to terminate the agreement and deal with or dispose of the said goods at his discretion without further reference to the defaulting purchaser.
13. Carriers – The auctioneer may identify third party carriers to assist purchasers with packaging and transportation of Lots purchased but accepts no liability or responsibility for the acts or omissions of such carriers.
14. Governing Law – These terms and conditions shall be governed by the law of the Australian State or Territory in which the subject auction is taking place and by participating in the relevant auction the purchaser shall be taken to have consented to the exclusive jurisdiction of such courts.
15. Definitions – In this agreement: (a) “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 have been entered into. (b) “Auctioneers” means CA or its duly appointed employees, servants and agents. (c) “Lot” means any Lot or Lots for sale either individually or as a group at the auctioneer’s sole dis.