Ozbid Auction Terms
1. Auctioneer is Agent for Vendor
OzBid Auctions is agent for the Vendor and is not responsible for any default by the Vendor or the Buyer.
2. Buyers Premium
The Buyer is required to pay to OzBid Auctions a Buyer’s Premium based on a percentage of the hammer price. This Buyers Premium is 24% including GST.
3. Buyers Registration Form
Every bidder shall create a bidding account and register for each auction, thereby agreeing to and accepting the terms and conditions via the online forms.
4. Highest Bidder
Subject to any reserve price, the highest bidder shall be the Buyer. Any dispute will be settled by the Auctioneer at the auctioneer’s discretion. The auctioneer regardless of the fall of the hammer, can use their discretion to reopen the bidding or withdraw the lot from sale. The decision of the Auctioneer shall be final.
5. Regulation of Bidding
The Auctioneer has the right in his absolute discretion to refuse any bid and to advance and regulate the bidding as he decides and any bid acknowledged and relied upon by the Auctioneer, may not be withdrawn. For Timed Auctions, if a bid is placed within the last 5 minutes of the lot closing, this lot will be extended for a further 5 minutes, to fairly allow other bidders the opportunity to increase their bid.
6. Rights of Auctioneer and Vendor
The Auctioneer and the Vendor reserve the following rights which may be exercised by the Auctioneer without giving any reason therefore:
a) To keep secret the existence and amount of the reserve price (if any) of a lot;
b) To bid on behalf of the vendor or any prospective Buyer with or without disclosure;
c) In the event that any lot is not sold at the auction to offer to sell same thereafter by private treaty but otherwise subject to these conditions.
7. Buyer Bids as Principal
Every Buyer shall be deemed to bid as principal unless prior to the auction he discloses to OzBid Auctions that he will be bidding on behalf of the principal and supplies the full name and address of his principal and a copy of a written authority to bid for and on behalf of that principal and such authority is satisfactory.
8. Statements Made by Auctioneer at Rostrum
All conditions, notices, descriptions, statements and other matters in the catalogues and elsewhere concerning a lot are subject to any modifying statements made by the Auctioneer from the rostrum.
9. Catalogue Descriptions
a. Any representation or statement by OzBid Auctions in any catalogue, advertisement or brochure as to the authorship, origin, date, age, period, attribution, genuineness, provenance, condition, quality, or estimated selling price of any lot is a statement of professional opinion only.
All pieces are photographed and catalogued to be as true as possible to the item.
b. Buyers must satisfy themselves as to all matters referred to above (a) by inspection or otherwise prior to the date of the auction.
10. Exclusions of Warranties
a. All Lots are sold “as is” and OzBid Auctions make no representations or warranties other than those implied by Law.
i. Within seven (7) days of the date of auction OzBid Auctions receives notice in writing from the Buyer including two written expert findings that the item is a Forgery, and
ii. Within seven (7) days of such notice, the Buyer returns the Lot to OzBid Auctions in the same condition as at the date of auction, and
iii. Within a reasonable time thereafter the Buyer satisfies OzBid Auctions that the item is a Forgery and that the Buyer is able to give a good and marketable title of the Lot free of any liens or encumbrances, then OzBid Auctions will set aside the sale and refund the Buyer paid for the Lot.
12. Agreement for Sale and Payment of Purchase
a. The buyer agrees to pay OzBid Auctions the Purchase Price within 48 hours of the auction closing, unless other payment terms have been agreed to by Ozbid Auctions in writing prior to the auction.
Payment shall be made in Australian Dollars either in cash, credit card, or by electronic transfer direct to OzBid Auctions bank account.
b. If other payment terms have not been agreed to prior to the auction and the buyer fails to complete payment in full for their purchase within 48 hours, Ozbid Auctions will take a deposit from the buyer for their purchase to secure their items with the buyer’s credit card on file.
13. Remedies for Non-Payment or Failure to Collect Purchases
a. If a Buyer fails to pay for any purchased Lot, OzBid Auctions shall, without further notice to the Buyer and in it’s absolute discretion without prejudice to any other rights or remedies, and without being bound to give any notice, be entitled to to issue proceedings against the Buyer for damages for breach of contract.
14. Returns and refunds
We encourage you to contact us and ask as many questions needed about a specific item before you purchase. You may also wish to request additional photos of an item. We do not accept returns for change of mind. All sales are final at the fall of the hammer.