(Hereinafter “The Company)
1.
The vendor reserves the right to withdraw a lot
from a sale at any time before the auctioneer accepts a bid for the lot at the
Auction.
2.
Subject to any reserve price and Vendor’s right
to bid, the highest bidder shall be the Purchaser and in the event of any
dispute arising, the lot may be re-offered, the Auctioneer shall be the sole
arbitrator and his decision shall be final.
3.
The Auctioneer shall regulate advances in the
bidding. No bidder may retract their bid
once it has been taken.
4.
The Auctioneer may refuse to accept any bid
which, in his opinion, is not in the best interest of the Vendor, and may
exclude any person or persons whatsoever from the Auction at any time for any
reason whatsoever. Collusive bidding practices will not be tolerated.
5.
On the fall of the hammer, each lot shall be at
the PURCHASER’S RISK AND EXPENSE and shall be paid for in cash or by bank
cheque as soon as possible and prior to delivery, but in the event of delivery
being made to or possession obtained by the Purchaser, his employees, agent’s
or contractors prior to payment in full of the purchase price, TITLE AND
PROPERTY in the lot shall not pass to the Purchaser.
6.
On the fall of the hammer, the Purchaser shall
give their name and address and (if required) immediately pay twenty-five cents
in the dollar in part payment of the purchase price, such payment to be applied
to the lot so purchased or to the entire invoice of purchase by the
Purchaser. The Purchaser shall complete
the Company’s “Buyers Bid Card”. In
default of these conditions, the lot or lots so purchased may, at the
Auctioneer’s absolute discretion, be immediately put up again and sold.
7.
As soon as possible after the fall of the hammer,
the Purchaser shall sign the sale sheet and in any event the Purchaser and the
Vendor authorize the Auctioneer and/or Auctioneer’s clerk to sign on their
behalf the sale sheet which with these conditions shall constitute the whole
contract between the Vendor and the Purchaser to the exclusion of everything
else.
8.
No purchases may be removed until after the
conclusion of the Auction. All purchases must be paid for and removed within
two (2) days of the date of the sale or as specified at the time of sale.
9.
If the Purchaser fails to comply with these
conditions or any of them or if any cheque given on account of any purchase is
dishonoured, any moneys which the Purchaser shall have paid to the Company on
account of any purchases shall be absolutely forfeited to the Vendor and the
Vendor or the Company shall be at liberty to sue the Purchaser for recovery of
the balance of the purchase moneys and the Buyer’s Premium forthwith or,
without prejudice to the Vendor or the Company’s right to recover the balance
of purchase moneys and the Buyer’s Premium if it is not possible to resell the
lot, to resell or attempt to resell the lot in any manner and upon such terms
and conditions as they may think fit, and without being obliged to give any
notice of resale to the Purchaser.
10.
All losses and expenses incurred by the Vendor or
the Company resulting from any resale pursuant to Clause 9 hereof or any
attempted resale and all damages which the Vendor of the Company may sustain
thereby shall be recoverable from the Purchaser as liquidated damages whether
the goods are resold or not. Without
limiting the generality of the foregoing, the Company shall be entitled to
recover from the Purchaser.
a)
The amount of any commission, which the Company
lost on a purchase as a result of the Purchaser not proceeding.
b)
The Buyer’s Premium payable in accordance with
Clause 11.
c)
All costs associated with any resale or attempted
resale, including advertising, insurance, transport and storage and
d)
Interest on the purchase moneys outstanding from
time to time on and from the third day after the date of the sale at the
corporate overdraft reference rate for the time being charged by the
Commonwealth Banking Corporation
11.
The Purchaser agrees that the Company will charge
a premium as otherwise notified being a percentage of the gross sale price to
the Purchaser for services and facilities provided to the Purchaser by the
Company (Buyer’s Premium). The Buyer’s
Premium is payable in addition to and at the same time as the sale price and
will form part of the total price paid by the Purchaser for the purchase of the
lot.
i. Prior to the Auction, the
Company will advise the Purchaser, either orally or in writing, whether the
sale price of a lot is inclusive of Goods & Services Tax (GST), (GST
Inclusive) or exclusive of GST (GST Exclusive)
12.
The Purchaser shall be deemed to be the principal
unless, prior to the sale, they had given to the Auctioneer a copy of a written
authority to bid for or on behalf of another person.
13.
No condition of warranty either express or
implied is given by the Company with any lot offered, as all lots are open for
inspection prior to the commencement of the sale and are sold with all faults,
if any. No sale shall be invalidated and
no compensation shall be paid in respect of any fault or error of description
of any lots sold. No lot shall be sold
or deemed to be sold by order of sale /catalogue description or by any other
description.
14.
All electrical goods offered for sale are
untested and it is the responsibility of the Purchaser, under the
15.
The Purchaser acknowledges that the Company is
acting as the authorized agent of the Vendor and any rights of action he may
have in respect of the lots purchased by him lie against the Vendor, not the
Company. In the event that he wishes to
take proceedings in respect of the said lots and the Vendor has not been named
by the Company in its dealings with him to date, he agrees to request the name
of the Vendor from the Company and, provided the Company provides the relevant
details to proceed against the Vendor, not the Company.
16.
The Purchaser acknowledges that any Computer
Equipment which is the subject of this Contract of Sale may include
software (Software) which is under Licence (Licence) from the
software owner to the vendor and that the terms and conditions of the Licence
may restrict the use and transfer of the Software. The Purchaser under this Contract of
a)
Warrants that it has had an opportunity to make
inquiries about the Licence;
b)
Acknowledges that it is aware of the terms of the
Licence; and
c)
Undertakes to be bound by its terms and
conditions
17.
Any statement as the quantity of goods is
approximate only and is as represented to the Company. The Company gives no warranty that quantities
as stated are correct. In addition to
any other rights the Purchaser may have, compensation for shortages in quantity
shall be given if demanded in writing before delivery of the goods. In the event of any dispute as to
compensation, the dispute shall be settled by an arbitrator who shall be a
person mutually agreed upon by the parties.
18.
No servant or agent of the Company is authorized
to waive, add to or vary these Conditions without the written authority of a
Director of the Company.
PACIFIC
AUCTIONS PTY LTD
As
Agents for the Vendor