Terms and condition
All bidders are responsible to read all terms and conditions of the sale, supplements, notices and announcements before participating in the auction. These terms and conditions are subject to amendment by OKM Services Pte Ltd either by posting of notices or announcements. . By participating in the sale, you agree that you are bound by these terms and conditions:
1. Description and photographs of all lots are based on the actual lots being sold to the best of ability of KM's Auction House. KM's Auction House assume no risk, liability or responsibility for the condition, authenticity or the authorship of the property identified in the catalogue (that is, the identity of the creator or the period, culture, source or origin as the case may be, with which the creation of any property is identified herein).
2. Any and all statements and descriptions in any catalogue or elsewhere by KM's Auction House, relating to age, attribution, authenticity, size, genuineness, provenance, historical relevance or significance, physical condition, importance, quality, quantity, rarity, period, culture, source or origin, are presented as statements of opinion only.
3. All estimates of value as published in our catalogues or elsewhere are statements of opinion only as to the range of the price a buyer might pay for the Property at the auction. The actual price paid at the auction or subsequently, may vary from the estimates. KM's Auction House shall not be liable for such differences.
4. All property are sold as is and neither the Auctioneer nor the Consignor makes any warranties or representations of any kind or nature with respect to the property, and in no event shall be responsible for the correctness or any implied warranty or merchantability or any implied warranty of fitness for a particular purpose as it relates to description, genuineness, attribution, provenance, safety, reliability or condition of the property.
5. On the fall of the Auctioneer's hammer or upon the statement fo 'sold', the highest bidder shall be deemed to have purchased the lot in accordance with all of the conditions set forth herein and will pay the hammer price in full and any applicable taxes.
6. Successful bidders are entered into a legally binding contract to purchase the lot. The successful bidder will be held legally liable for the purchase price.
7. If the purchaser fails to pay or comply fully with any provisions of the Terms and Conditions, the purchaser will be in default. In addition to other remedies available to the auctioneer and the consignor by law, including the right to hold the purchaser liable for the total purchase price, including all premiums, charges and expenses specified in the Terms and Conditions, the auctioneer may, at its option, (a) cancel the sale of the lot on which the purchaser defaulted, and of any other lot(s) sold to the defaulting purchaser at the same or any other auction(s), and retain as liquidated damages all payments made by the purchaser, (b) resell the purchased Property, whether at public auction or private sale, or (c) pursue any combination of (a) and (b). In the event of any default by purchaser, purchaser will be liable to the auctioneer and the consignor for any deficiency, any and all costs and expenses, including reasonable attorneys fees, collection fees and expenses, handling charges, late charges, expenses of both sales, premiums and other damages.
8. Late payment Interest will be charged at 1.5% of purchase price per month, starting from the 11th working day after the auction for all delayed payments.
9. Property will not be released until full payment is received
10. In the event of partial payment for any lot or lots we shall apply payments, in our discretion, to the lot or lots we select.
11. Successful bidders must make payment within 10 working days of the sale. Local (Singapore) cheques, wire transfer, Credit Cards, Paypal, direct transfers are accepted. Payment details will be given in the invoice. A 3% service fee will be levied on the purchase price for all payments via Credit Cards and Paypal. A flat $20 service fee will be levied on purchases paid via wire transfer.
12. Purchased property shall be removed at Buyer's expense within fifteen (15) days after the sale date. Property not removed shall be subject to a storage fee of 1% of purchase price per month subject to a minimum fee of $50.
13. Shipping is the responsibility of the buyer. Buyers are free to use their own shippers or upon request, we can provide the purchaser the cost of packing and shipping quoted by our partner shippers who deliver worldwide. Payment for shipping charges must be made before the property will be shipped. Once payment is cleared, the title and risk of loss passes to the buyer. Any damage or loss during packing and shipping is the buyer's responsibility. Some property that is sold at the auction can be subject to import restrictions of different countries. It is the responsibility of the buyer to seek clearance, licensing from local authorities for the import and export of such items. Deniel or delay of approval from authorities will not constitute cancellation or delay in payment for the total purchase price of these lots.
14. In no event shall the Auctioneer's liability for any breach, or act or omission exceed the purchase price actually paid by the Buyer, and in no event shall the Auctioneer have any liability under any circumstances for special, indirect, incidental or consequential damages (including for loss of profits or revenue, costs of obtaining alternative property, claims of customers of Buyer or otherwise), whether in contract, tort, negligence, strict liability, or otherwise, arising out of, resulting from or in any way relating to the lot or its purchase, sale, delivery or non-delivery, or the acts or omissions of the Auctioneer or it's agents, representatives, officers, directors, stockholders, members, managers, employees, consultants or affiliates.
15. We reserve the right to withdraw any property or lot at any time before the actual sale. Unless otherwise announced, all bids are per lot as numbered in the catalogue.
16. We reserve the right to reject a bid from any bidder. The highest bidder acknowledged by the Auctioneer shall be the Purchaser. In the event of any dispute between bidders, or in the event the Auctioneer doubts the validity of any bid, the Auctioneer shall have sole and final discretion either to determine the successful bidder or to re-offer and resell the article in dispute. If any dispute arises after the sale, our sales records shall be preeminent in all respects.
17. By using and accessing our website or third party bidding platform/websites, auctioneer is not liable for any viruses that may affect a computer while accessing these sites, missed bids or outages. We make no warranties, express or implied, that sites will be error free or that use will be uninterrupted. The auctioneer will not be liable for damages relating to or arising from use of online platforms.
18. All property is sold AS IS and all sales are FINAL.
19. These terms and conditions of sale shall be governed by the laws of the Republic of Singapore.
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