Trigometric Auction 7

Terms & Conditions of Sale The Conditions of Sale set out below are the terms on which Trigometric Sdn Bhd, as auctioneers, enter into agreements with Buyers. Any variation of these Conditions shall be binding on Trigometric only if it is made in writing and signed by a duly authorized officer of Trigometric. 1. Definitions In these Conditions: ?Buyer? means the person with the highest bid accepted by the auctioneer; ?Buyer?s Premium? means the charge payable by the Buyer as a percentage of the Hammer Price, at the rates set out in Clause 5(b); ?Forgery? means an item that is (a) made or substantially made with an intention to deceive as to authorship, origin, date, age, period, culture or source, (b) not shown to be such or possibly such in the description applied to it at the time of sale or in the catalogue, and (c) at that time it had a value materially less than it would have had if it had been in accordance with the correct description; accordingly, no item is capable of being Forgery solely by reason of any damage and/or restoration work of any kind including repainting, re-enameling or re-plating; ?Hammer Price? means the amount of the highest bid accepted by the auctioneer in relation to a Lot; ?Lot? means any item consigned for sale by auction and includes the item described against any Lot number in a catalogue; ?Trigometric? means Trigometric Sdn Bhd ?Purchase Price? means the Hammer Price plus the Buyer?s Premium and GST; ?Reserve Price? means the amount below which Trigometric has agreed with the Seller that the Lot cannot be sold; ?Seller? means any person who consigns any item to Trigometric for sale by auction. 2. Trigometric as Agent All sales are made by Trigometric as agents on behalf of the Seller. The contract is between the Buyer and the Seller. Notwithstanding this, Trigometric is not obliged to disclose to the Buyer the identity of the Seller. 3. The Buyer (a) The highest bidder for each Lot shall be the Buyer thereof. In the event of a dispute the auctioneer shall have absolute discretion to determine the dispute, including but not limited to re-offering the disputed Lot for sale. (b) All Buyers must register with Trigometric before bidding. Only registered bidders will be allowed to bid for any Lot. References, if required by Trigometric, must be provided before the Auction. (c) The Buyer of any Lot shall, if requested, immediately furnish to Trigometric: bank or other credit facilities; and/or pay the full Purchase Price, or a fractional deposit, as may be determined by the Trigometric. (d) When making any bid, the Buyer acknowledges that he is doing so as principal. Buyers accepting commissions from other parties do so at their own risk and will remain liable to Trigometric for full settlement according to these Conditions. 4. The Auctioneer (a) The auctioneer will have absolute discretion to divide any Lot, to combine any two or more Lots, or to withdraw any Lot from the auction without giving any reason. (b) The bidding shall be regulated at the absolute discretion of the auctioneer. The auctioneer has the right to refuse any bid. (c) The auctioneer acts solely as an agent and shall not be responsible for any default by the either the Buyer or the Seller or for any action or claim which may arise in respect of any Lot. 5. The Lot (a) All Lots are offered for sale subject to any Reserve Price that may be put by the Seller. (b) Lots are sold as shown with all faults, imperfections and errors of descriptions and lack of authenticity. Neither Trigometric nor the Seller shall give any warranty to any Buyer in respect of any Lot or be liable for any fault or error of description or lack of genuineness or authenticity of any Lot. (c) All statements as to Lots sold, whether made in catalogues, during the course of the auction or otherwise, are statements of opinion only and are not and shall not be taken to be statements or representations of fact or warranties of any kind. (d) Trigometric reserves the right in forming their opinion to consult and rely upon any expert or authority considered by them to be reliable. (e) Notwithstanding the foregoing, except as provided in sub-clause (1) below, if any Lot should be proved by the Buyer to be a Forgery, or to have been wrongly described in any material respect, Trigometric will rescind the sale and refund the Purchase Price at the request of the Buyer provided that he shall given notice of his attention so to do within 7 days and shall have returned the same to Trigometric within 14 days from and in the same condition in its original, sealed and unopened container as at, the date of the auction. Proof of the inability of any expert to form a definite opinion shall not discharge the Buyer?s onus of proving that a Lot is a Forgery. Notwithstanding the above, no Lot may be returned for reason that it is a Forgery if it is expressly stated in the Lot description that it is or may be a replica, copy, counterfeit or forgery or that Trigometric is not able to determine or warrant authenticity of the Lot. Lots sold ?as is? may not be returned for any reason including reasons of authenticity or lack thereof. (f) The benefit of the foregoing is not capable of being transferred, and is solely for the benefit of the original Buyer to whom the original invoice was made out by Trigometric in respect of the Lot and who, since the sale, has remained owner of the Lot without disposing of any interest to any third party. (g) Regardless of whether the Lot has been wrongly described in any material respect, no Lot may be returned under sub-clause (f) by Buyers who have examined the Lot before the auction or by floor bidders unless the same has been proven to be a Forgery. (h) The Buyer?s sole remedy is rescission of the sale and refund of the Purchase Price. Under no circumstances will Trigometric or the Seller be liable for any costs, expenses or damages incurred by the Buyer in respect of any Lot, including, but not limited to, loss of any kind of profit whatsoever. (i) No Lot may be returned after 14 days of the auction. (j) In the case of overseas absentee bidders, the time limits for giving notice to Trigometric and returning the Lot is extended by a further 7 days. (k) Notwithstanding the foregoing, all Lots that include one or more items certified by a third party certification service are sold as is, and may not be returned for any reason whatsoever, including reason of authenticity or lack thereof. The Buyer?s remedy lies solely with the certification service. 6. The Bid (a) By making a bid the Buyer acknowledges his acceptance of these Conditions and he shall be bound by them. (b) Purely as a convenience to clients, bidding commissions for anyone unable to attend the auction in person may be carried out by the auctioneer without charge. ?Buy? commissions will not be accepted. (c) Bids must be in writing and signed. (d) Trigometric shall not be liable for errors or omissions in executing any bidding commissions. (e) Where two absentee bidders bid identical sums for the same Lot, the first bid received shall take precedence. (f) The auctioneer may give priority to an absentee bid over a floor or internet bid. In order to give priority to an absentee bid, Trigometric may also at its absolute discretion increase an absentee bid by two or more increments instead of the usual one increment. (g) Requests for telephone bidding may be accepted or declined at Trigometric?s absolute discretion. Trigometric may at its discretion require a person who requests telephone bidding to make a firm bid that is at least equal to the high estimate on the Lots that he requests for telephone bidding. 7. After the Auction (a) Each Lot shall be at the Buyer?s risk from the fall of the hammer. However, title does not pass to the Buyer until payment of the Purchase Price in cleared funds is received in full by Trigometric. (b) Buyers must satisfy themselves as to the accuracy of their purchases at the time of the delivery. Trigometric cannot be held responsible for any discrepancy which might be discovered after the Lot has been removed. (c) Trigometric will not be responsible for the safe custody of any Lot left for more than 7 days after the date of the auction. Trigometric reserves the right to charge storage and to resell by auction or privately, without notice to the Buyer, any Lot not so removed from their premises within (14) days from the date of the auction. (d) No Lot may be returned without the consent of Trigometric. (e) Lots purchased by absentee bidders will be forwarded at the risk of the Buyer who shall bear all costs incurred. Unless otherwise instructed by the Buyer, Trigometric shall have full discretion in choosing the shipment method. It shall be the responsibility of the Buyer to provide Trigometric with all relevant customs information. 8. Payment Terms (a) No Lot may be collected or delivered until Trigometric has received the Purchase Price in full. (b) Any part of the Purchase Price left outstanding after the auction shall be paid in full, and in cleared funds, within 7 days of the date of the auction. (c) At least thirty (30) days must be allowed for the clearance of personal cheques before delivery can be made, unless prior arrangements have been with Trigometric. (d) Late payment for any reason is just cause for revocation of all return privileges. (e) Without prejudice to any other rights, Trigometric reserves the right to charge interest on any overdue payment at the rate of 1.5% per month. (f) Payment by credit card is accepted. But will incur a 3% charge. (g) Acceptance of payment by online methods shall be at the discretion of Trigometric and Trigometric may impose a surcharge on such payments to cover fully administrative costs and any other service fees charged by the online payment service provider. (h) All bank charges involved in wire transfers shall be borne by the Buyer. 9. Remedies against the Buyer (a) If any Buyer fails to comply with any of these Conditions, the Lot in respect of which the failure is made may, at the discretion of Trigometric, be put up again and resold. (b) The damages recoverable from the defaulting Buyer shall include, but not be limited to, Trigometric?s expenses and commission in respect of the resale and the amount (if any) by which the price obtained on the resale is exceeded by that obtained on the first sale. 10. Copyright The copyright in all images, illustrations and written material relating to any Lot is and remains at all times the property of Trigometric and shall not be used by the Buyer nor anyone else without Trigometric?s prior written consent. 11. Law and Jurisdiction These Conditions of Business shall be governed by and construed in accordance with Malaysian law and the Buyer irrevocably agrees to submit at Trigometric?s option to the jurisdiction of the Malaysia?s Courts. This shall not limit Trigometric?s right to take proceedings in any other jurisdiction. 12. Placing Bids All bids must be made in Ringgit Malaysia 13. Bid Limits (a) Bidders without pre-approval by Trigometric that plan to bid in excess of RM10,000 must contact Trigometric in advance. A 25% deposit will be required and must be paid in cash or ?cash equivalent? at least 48 hours before the start of the auction (?cash equivalent? is defined to include cashier?s check or money order, approved check, wire transfer or other immediate bank transfer). (b) Any unused deposit will be promptly returned to the bidder. 14. Accepted Forms of Payment (a) We welcome payment by cash or ?cash equivalent? (?cash equivalent? is defined to include cashier?s check or money order, approved check, wire transfer or other immediate bank transfer). Ringgit Malaysia, HK Dollars and Chinese RMB are accepted as cash payments. Credit cards are accepted for this auction, but will incur a 3% charge. All invoices will be made in Ringgit Malaysia. If paying in HK Dollars or Chinese RMB, Trigometric will credit your invoice the amount we receive from our bank, after any fees or charges.