21st (Tue) & 22nd (Wed) March 2017. 10am - 5pm. Singapore time zone.
Venue: No.1, Coleman Street, Unit#02-34, The Adelphi, Singapore 179803.
No. 5, Coleman Street
Terms & Conditions
TERMS & CONDITIONS
PREVIEWING OF LOTS:
Inspection of Lot(s) is on 21st & 22nd March 2017, 10am to 5pm only, at our shop – No.1 Coleman Street, Unit#02-34, The Adelphi, Singapore 179803.
Before making a bid at the auction, every registered bidder agree and abide by all the terms and conditions of the Auction:
1.1. Provide the Auctioneer adequate correspondence details: full name, full delivery address, telephone number, and email address.
1.2. All bidders are strongly encouraged to examine personally the Lot(s) they are interested in, before the auction. Satisfy oneself as to the accuracy of the purchases done at the time of delivery.
1.3. Every Lot purchased will be at the Buyer's risk from the fall of the hammer.
1.4. All successful bidders must complete full payment of the full amount, which includes Buyer’s Premium, GST, postage, handling and insurance costs before the dispatch of the purchased items within fourteen (14) days of the invoice. The Buyer will not have title to the Lot until it is fully paid for.
1.5. Interest will be charged at 2% per month compound interest for overdue payment, from the date the full amount is due.
1.6. No Lot(s) shall be returned fourteen (14) days after the sale.
1.7. If the Buyer fail to make payment after fourteen (14) days after the invoice, the Auctioneer is entitled to take any appropriate action deemed fit, not excluding to cancel the sale of the Lot(s), and to arrange a resale of the Lot(s). Should this result to be lower than the invoice price, to recover the balance including Buyer’s Premium, from the Buyer. LiveAuctioneers will be notified of the dispute and the Buyer risk being blacklisted and declined from future auctions.
1.8. All bids are exclusive of the Buyer's Premium. There will be no additional charge for executing bids. Except for internet bidders, the Buyer's Premium is 17% on the hammered price plus 7% GST on the premium will be charged (Total=18.19%) for other forms of successful bids.
THE BUYER'S PREMIUM FOR SUCCESSFUL INTERNET BIDDERS IS 22% on the hammered price plus 7% GST on the premium will be charged (Total=23.54%). The additional surcharge of 5% is by LiveAuctioneers.
1.9. All sales prices are in Singapore Dollars.
1.10 These conditions shall take effect and shall be construed in accordance with the provision of the Singapore Law.
1.11 The Consignor/Vendor is not allowed to bid on his own property or engage anyone to bid on his behalf. Any such bids will be deemed as void.
2. RESERVE PRICE
The Auction sale is subject to a reserve price for each Lot specified to the auctioneer by the Vendor.
3. AUCTIONEER’S RIGHTS
The Auctioneer reserves the rights to the following discretions:
3.1. To refuse admission to any person or eject him/her from the Auction.
3.2. To accept or refuse any bid without having to state any reason.
3.3. To keep secret the reserve price of any Lot.
3.4. To withdraw from sale any Lot described in the catalogue
3.5. To rearrange auction items by dividing or combining Lots to facilitate sales.
3.6. To bid on behalf of any Buyer or Vendor with or without his closure.
3.7. To offer and sell the Lot immediately by private arrangements, in the event that any Lot is not sold.
3.8. The Auctioneer shall have absolute discretion of who is the successful bidder, (thereafter known as Buyer).
4.1. All images and text in the Auction catalog and the internet, are for illustration purposes only; actual condition and description of Lots are merely statements of opinion, and are not to be relied on as definitive fact.
4.2. In the event of any discrepancy, the Auctioneer shall have absolute discretion to settle it, and may re-submit the Lot(s) for sale at the auction.
4.3. Internet bidding: The Auctioneer is not responsible for errors or failures to execute bids, caused by loss or delay of the internet and computer connection by any party for whatever reason.
4.4 Estimates: The figures in the catalogue of each lot are the Auctioneer's estimation of the expected price and are published only as a guide for buyers.
5. DISCLAIMER OF LIABILITY
The Buyer must acknowledge:
5.1. That the Auctioneer accepts no responsibility of any errors or omissions.
5.2. That the Buyer is solely responsible to check the bids.
5.3. The bids lodged cannot be returned.
5.4. That the Auctioneer is not liable for any defaults of the Buyer or Vendor.
5.5. The Auctioneer shall use reasonable endeavours to take care when handling and packing a purchased Lot but remind the Buyer that every Lot purchased will be at the Buyer's risk from the fall of the hammer.
5.6. It is the responsibility of the Buyer to be aware of any import duties that may be incurred. The onus is on the Buyer to be aware of any custom import restrictions that prohibit the importation of certain collectibles. The Auctioneer will not accept return of the Lot(s) under these circumstances, and will not accept responsibility for the Lot(s) seized or destroyed by Customs.
5.7. Shipment is by SingPost, or by FedEx. The Auctioneer is not responsible for the errors and damages made by them.
5.8. The Auctioneer is not liable or responsible for any death or personal injury resulting from negligence; or any damage or liability incurred by the Lot(s) and the Auction.
The Auctioneer is not responsible for the grades of any coins and any banknotes graded by any 3rd party grading companies. If there are any disputes, the Buyer is to refer to the respective grading company.
7. BIDDING INCREMENTS
From $1-$100 increases in $5 increments.
From $101-$200 increases in $10 increments.
From $201-$500 increases in $20 increments.
From $501-$1,000 increases in $50 increments.
From $1,001-$2,000 increases in $100 increments.
From $2,001-$5,000 increases in $200 increments.
From $5,001-$10,000 increases in $500 increments.
From $10,001 increases in $1,000 increments or greater.
8.1 Bids may be also made on the floor, by post, fax or telephone.
8.2 Commission Buying:
All commissions handled by Auctioneer are treated in the strictest confidence and are "knocked down" to the "book."
8.3 Prices Realized:
A list of prices realized will be available made available on the Auctioneer’s website and social media platforms, after the Auction.
8.4 Payment Mode:
Payment shall be made in Singapore Dollars in the form of cash below $20,000 or cheques drawn on a Singapore clearing bank, or by means of a banker's draft or electronic/telegraphic transfer directly to the Auctioneer's bank account, quoting the original invoice number. All bank charges involved in currency transfers shall be borne by the Buyer. Only AMEX credit card at 3.5% surcharge is accepted; other credit cards and PayPal payments are not accepted.
The sale will be conducted in Singapore Dollars. Full settlement will also be expected to be in Singapore Dollars. Buyers will be responsible to the Auctioneer for all bank charges and any difference in the exchanged currency upon conversion should they choose any other currency payment. All bank charges involved in currency transfers shall be borne by the Buyer.
8.6 Full Settlement:
Full Settlement is due on receipt of invoice. No items will be dispatched except to established account customers. Full settlement is due within fourteen (14 days) of the sale. After that time, any amount owing will be subject to an interest of 2% per month, in accordance with the Auction’s terms and conditions.
Payment by Singapore Dollars cheque / bank draft and electronic/telegraphic transfer to:
Bank name: UNITED OVERSEAS BANK LIMITED.
Bank code: 7375.
Account Number: 372 300 6595.
Swift Code: UOVBSGSG.
Bank branch: COLEMAN.
Bank branch code: 046.
All terms and conditions are subject to change without prior notice.
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