TERMS AND CONDITIONS OF SALE

1. The highest bidder for each Lot shall be the Purchaser thereof subject to any reserve price which may be fixed and in the event of any dispute arising as to any bidding the Lot in respect of which the dispute arises shall be immediately put up for sale again at the last undisputed bidding or the dispute may be determined by the Auctioneer whose decision shall be final.
2. The Auctioneer may without giving any reason therefore refuse to accept the bidding of any person or persons.
3. No person shall advance less at a bid than a sum to be named from time to time by the Auctioneer.
4. The Vendors may bid for any Lot or Lots and may withdraw any Lots or Lots through the Auctioneers as many times as he may respectively think fit without declaring any reserve.
5. Each Lot shall be at the Purchaser’s risk from the fall of the hammer irrespective of any delivery instructions given to the Auctioneers, their employees or agents and must (except as hereinafter provided) be paid for in full without discount before delivery and must be taken away by the Purchaser at his own expense at the conclusion of the sale.  The Vendor shall be responsible for the count to the Purchaser.
6. Each Lot is offered with all faults and no warranty of any kind is given or implied.  The Purchaser must satisfy himself by inspection or otherwise as to age, condition and soundness prior to bidding.  No error or misdescription shall invalidate any sale or give rise to any claim for compensation.
7. Unless otherwise stipulated by the Auctioneer, all Lots shall be sold for cash, credit card or cheque.
8. No Purchaser at any sale who fails to comply with these conditions or any of them shall be entitled to delivery of any stock purchased at such sale or any subsequent sale unless and until he shall have made good his default and shall have obtained from the Auctioneers a written order for delivery of such stock and presented such order to the Auctioneer’s agent at the sale site.
9. Any Lots not cleared in accordance with these conditions, may, if the Auctioneers think fit, at any time thereafter be resold by the Auctioneers either by Auction or by private contract and any diminution in price on such resale together with the expenses thereof shall be a debt due by the original Purchaser to the Vendor and recoverable accordingly.
10. Interest at the rate from time to time charged by the Auctioneers shall be paid in any case where a Purchaser makes default in due payment.
11. All live and dead stock yarded at any sale shall be subject to commission at the rate from time to time charged by the Auctioneers whether such stock be sold by the Auctioneers or by the Vendor and whether on the day of sale or promptly thereafter.
12. The Auctioneers shall not be responsible for any payment to any Vendor if such Vendor gives delivery without written consent of the Auctioneers or if the Purchaser fails to make payment or other satisfactory settlement in accordance with these conditions.
13. 15 % Buyers Premium (Incl GST) payable to the Auctioneer on fall of the hammer.
14. All goods must be paid for and removed by 5pm Monday unless otherwise arranged with Auctioneer.
15. GST may be added to hammer price where applicable.

AUCTION NOTICE

In accordance with Section 16 of the Auctioneers & Real Estate Agents 1991 notice is given of the following provisions of the Act.

CERTAIN BIDDING AGREEMENTS ARE UNLAWFUL

Section 13 of the Act makes it an offence for a dealer (being a person who in the normal course of business attends auctions for the purpose of purchasing property for resale) to give, agree to give or offer a gift or consideration to a person as an inducement of reward for abstaining or having abstained from bidding at an auction.  (Maximum penalty for this offence is $5000).

Section 13 of the Act also makes it an offence for a person to accept, agree to accept or attempt to obtain from a dealer a gift or consideration for abstaining from bidding at an Auction.  (The maximum penalty for this offence is $5000).

If, however, before an Auction a dealer enters into an agreement with a person to purchase property at the Auction bona fide on a joint account and has deposited a copy of the agreement with the Auctioneer then that agreement is not unlawful.

COLLUSIVE PRACTICES AT AUCTIONS ARE UNLAWFUL

Section 14 of the Act makes in an offence for a person, by means of an unlawful promise made to another person at an Auction, to induce or attempt to induce that person to abstain from bidding (either generally or for any particular lot) or not to bid (except to a limited extent) or to do any act or thing which may in any way prevent or tend to prevent free or open competition.  (The maximum penalty for this offence is $5000).

Section 14 of the Act also makes it an offence for a person, as a result of unlawful promise made to that person to abstain or agree to abstain from bidding (either

generally or for any particular lot) or not to bid (except to a limited extent) or to do any other act of thing which may in any way prevent or tend to prevent free and open completion.  (The maximum penalty for this offence is $5000).

An unlawful promise is an express or implied promise made by a person that if that person is the successful bidder in respect of property sold at an Auction.

a)      The person to whom the promise was made will have the right to elect through the Auctioneer to take over as Purchaser of the property or any part of the property at the Auction price; or

b)      The ownership of the property or any part of the property will be decided by a specified method.

SUCCESSFUL BIDDER MUST SUPPLY CERTAIN INFORMATION TO THE AUCTIONEER

Section 15 of the Act requires a person who makes the successful bid at an Auction to give to the Auctioneer, as soon as practicable after the acceptance of that bid –

a)      If the person bid on his or her own behalf - his or her name and address or

b)      If the person bid on behalf or another person – the name and address of that person.

(The maximum penalty for failing to comply with this requirement is $2000.)

A person who makes the successful bid at an Auction does not have to comply with this Section of the Act if he or she has previously given the required information to the Auctioneer.