CONDITIONS OF SALE
1. GST: A Buyers Premium of 17.5% plus GST (total cost 19.25%) will be added to the Hammer Price of each lot. All Purchasers (Australian and Overseas) must pay the 10% GST on Buyers Commission. Lots with T before the estimate are also subject to the GST charge of 10% on the hammer price. Overseas purchasers are exempt from paying this Tax.2. INSPECTION AND BIDDING: No lot is available for inspection by post. The Auctioneer reserves the right to refuse admission to any person to either viewing or the sale room, and the Auctioneer may refuse any bid.
3. ESTIMATES: These are conservative. Bidding will commence at a bid five per cent (5%) over the second highest postal/absentee bid received prior to the commencement of the Auction. Where no bids have been received, bidding will commence at seventy-five per cent (75%) of the lot estimate or the reserve price stated in the description.
4. BIDDING:
- 4.1 Bidding either by post or in the room will bind the bidder to these conditions of sale.
- 4.2 Subject to any reserve price, the highest bidder shall purchase the lot; any dispute arising as to who is the highest bidder shall be determined by the Auctioneer who may offer the lot again.
- 4.3 The bidder shall be deemed to purchase as buyer unless prior to bidding he has given the Auctioneer a copy of a written authority to bid on behalf of another person.
- 4.4 Where an agent purchases on behalf of an undisclosed client such agent shall be personally liable for payment of purchase money to the Auctioneer and safe delivery of the lot to the said client.
- 4.5 "Buy” bids may only be accepted at the Auctioneer’s discretion; the Auctioneer shall not be liable for any errors or omissions in regard to such bids or their execution.
5. BIDDING INCREMENTS: Postal bids must comply with the following steps: Under $100 - $5 increases $100-$300 -$10 increases $300-$500 - $20 increases $500-$1000 - $25 increases $1000-$2000 - $50 increases $2000-$5000 - $100 increases Over $5000, the regulation of bidding is at the Auctioneer’s discretion.
Bids less than 75% of the estimate, or below any stated reserve, will not be recorded.
6. ABSENTEE BIDDERS: Bids will be accepted from persons unable to attend the auction, and their bids will be treated in utmost confidence and managed as though the bidder is in the room. The Auctioneer shall not be liable for errors or omissions in executing bids.
7. EXTENSION: Extension for certificates will only be granted where an application for same has been made to the auctioneer at least twenty-four (24) hours prior to commencement of the Auction. Any purchase made with an extension is payable in full in compliance with Condition 8. Such monies will not be made payable to the vendor until the purchaser has received a clear certificate. The onus shall be on the purchaserto obtain such certificate and bear all costs. If the stamps do not receive a clear certificate, the auctioneer will refund any certification fee not exceeding sixty dollars ($60.00). Lots will only be accepted back if they are returned in exactly the same condition as when offered. Any defacement, handstamp either back or front or defacement of previously accompanying certificate will render the buyer responsible for the full payment of sale price. No lot will be granted an extension if accompanied by a clear certificate from a recognized body dated within 5 years of the auction in which it is offered. If, after 120 days from the date of the auction Mowbrays Australia has not been notified in writing that the item has not received a clear certificate, the item will be treated as sold and is not returnable for any reason.
8. REJECTION OF LOTS:
- 8.1 No lot may be rejected if the successful bidder or his/her agent has inspected the lot prior to the sale regardless of whether or not the description of the lot is inaccurate for any reason.
- 8.2 Bidders who have not seen the lots they are buying, may reject any lot with the exception of bulk or mixed lots and collections, where the description is not in accordance with that given in the catalogue. However, any such lots are only returnable within forty-eight (48) hours of receipt, and in the condition received. Photographed lots are not returnable on account of centering, perforation or problems obvious in the photo.
9. PAYMENT:
- 9.1 Lots will be at the buyer’s risk from the fall of the hammer but title shall not pass until payment in full has been made of the purchase price (hammer price plus, if applicable, buyer’s premium plus GST and/or interest). The buyer shall take delivery of the lot within five (5) working days after the date of the sale.Payment and clearance of lots by room buyers must be carried out on the date of sale.
- 9.2 Payment by postal/absentee bidders must be made upon receipt of invoice.
- 9.3 Cost of mailing lots will be paid by the buyer. This includes postage/freight, packing and insurance.
PLEASE NOTE: Paypal/Credit Card Surcharge applies for Visa/Mastercard/Bankcard 2%; American Express 3%; Paypal 2%
10. FAILURE TO PAY: If buyer breaches Condition 9, the Auctioneer, without prejudice to any other rights available to it, shall be entitled without notice to the buyer to exercise one or more of the following rights and remedies –
- 10.1 To terminate the contract with the buyer with any monies that the buyer has paid to the Auctioneer on account of such purchase or purchases being forfeited.
- 10.2 To terminate the contract, resell the lot at any time by public auction and the buyer shall pay to the auctioneer any resulting deficiency in the purchase price (plus interest) and insurance. Any surplus shall be paid to the vendor.
- 10.3 To apply any monies at any time due by the Auctioneer to the buyer in payment of the purchase price (plus interest). The Auctioneer shall have a lien over any property of the buyer in the possession of the Auctioneer, in order to secure any monies due to the Auctioneer; and
- 10.4 To proceed against the buyer for damages for breach of contract.
11. GOVERNING LAW: These conditions shall be governed and construed in accordance with the laws from time to time in force in Victoria and the parties hereto irrevocably submit to the non-exclusive jurisdiction of the Courts of that State and any Courts competent to hear appeals thereform.