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 bidder must register online to bid. Upon registering a security check on your credit card will deduct either one cent or one dollar. This will be refunded immediately.
2. 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.
3. Inspection is online only.
4. 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) forbid any party from photographing any of the Lots or recording an auction; and/or (j) 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.
5. 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). A bid cannot be cancelled under any circumstances.
6. 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.
7. Method of Payment – Refer to specific auction terms.
8. 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.
9. 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.
10. 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.
11. 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.
12. 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 discretion.