RAV AUCTION GROUP CO - TERMS AND CONDITIONS OF SALE
INFORMATION FOR THE BUYERS
1. All bidders must register at our office prior to bidding at the auction. A $150 cash only deposit is required. All deposits are fully refundable on the day of auction if nothing is purchased
2. The highest bidder is to be the purchaser, but if any dispute arises, the lot in dispute shall be put up again and resold provided The Auctioneer cannot decide between the last bidder and the highest bidder.
3. No warranty is given with any lot and the auctioneer is not responsible for the correct description, authenticity of or any fault or defect or damage to any lot. Rav Auction Group expects that items are viewed prior to auction to inform buyers what they are purchasing.
4. The auctioneer has the right to advance the bidding at any rate he so desires, refuse any bid, refuse bids from any person he chooses, withdraw any lot for auction or bid on behalf of the vendor or absentee bidder without disclosure.
5. All purchases shall be final on the fall of the hammer. Purchases must be paid for and removed from the auction room by 12:00 noon Friday, which is the following day of the auction. Items that are not paid for and removed by the deadline will result in to loss of deposit and item will be placed in forth coming auction.
6. No person will be allowed to retract his or her bid after being taken and the Vendor reserves the right to bid either by the Auctioneer or the Vendor’s agent for any lot offered.
7. RAV AUCTION GROUP charge a Buyer’s Premium of 15% of the hammer price of all items sold at auction. All items sold at RAV Auctions are sold ‘GST inclusive’, meaning that any GST payable on the goods is included in the 15% Premium.
8. Absentee bids are available, so if you cannot attend the auction we require your bids in writing. This gives RAV auction group permission to bid on your behalf. Absentee bids are required at least 6 hours prior to auction.
10. All goods must be taken away by the buyer but no parties will be allowed to remove their goods until the purchase has been completed and the full purchase price has been paid.
11. Buyers are wholly responsible for any damage to property or injury to persons incurred during the removal of lots purchased by them.
12. Payment methods Cash, Bank Cheque, Credit Card (Visa/MasterCard- 2.5% surcharge), EFTPOS (.25c surcharge). Customs charges, sales tax, wharfage’s and delivery charges, including weighing, to be paid by the purchasers, where and when applicable.
13. All items are sold ‘as is’, meaning that they are ‘as they are’, with all their faults, imperfections & flaws. There are no refunds so Bidders are reminded again to inspect the goods before buying.
INFORMATION FOR VENDORS
14. RAV Auction Group acts solely as agent for the vendor & holds the items for purpose of sale by auction or if the item fails to sell at auction, by private sale.
15. The vendor warrants & represents that they are the unencumbered true owner of the items & that they are fully entitled to sell them.
16. Once reserve price is agreed (if any), Rav Auction Group is entitled to sell the items to the highest bidder at auction or anytime thereafter, prior to the receipt of written withdrawal instructions from the vendor. Rav Auction Group reserves the right to lower the commission rate charged to the vendor to sell the items below the stated reserve.
17. Rav Auction Group is entitled to deduct the commission fee as specified from the sale proceeds at the time of settlement together with all other charges reasonably incurred by Rav Auction Group on the vendor’s behalf. The commission will be based on the gross sale price of the items.
18. Rav Auction Group has complete discretion to offer the items for sale & as to the date, time & manner in which the auction is conducted.
19. Rav Auction Group may, at the expense of the vendor, seek the opinion of an expert in relation to the items.
20. Rav Auction Group accepts no responsibility to the vendor for any incorrect opinion, misdescription or incorrect statement. The vendor acknowledges that any statements made as to the originality, genuineness, authorship, age, condition, estimate & price of the items are statements of opinion & to the best of our knowledge.
21. The vendor will indemnify & keep Rav Auction Group indemnified against any claim by the purchaser against Rav auction group in relation to the items.
22. Rav auction group will pay the vendor the proceeds of the sale less all charges for commission, handling, storage & any other reasonable expenses within 10 days of the completion of sale of all the items on the receipt provided that Rav Auction Group has been paid in full by the purchaser.
23. Reserves will not be accepted on any item valued at less than $500 by Rav Auction group. Rav Auction Group also has the right to decline selling your stock if the price is unrealistic
24. Rav Auction Group reserves the right to lower any reserve by up to 25% in each subsequent auction when an item does not sell.
25. The vendor may withdraw the item/s at any time prior to the auction, however a handling fee of $10 on each item without a reserve will be payable to Rav Auction Group. If there is a reserve, a fee of 20% of Rav Auction group estimated value will be charged. The vendor will also be liable for any other expenses occurred.
26. The vendor may increase the reserve after the goods have been accepted for sale but a charge of 20% of the new reserve will be payable if the item fails to sell.