Auction Terms and Conditions

Auction

Terms and Conditions of Auction

Each lot is subject to 12.5% GST payable on the winning bid.
The highest bidder shall be the buyer. In the event of any dispute as to the biddings in respect of any lot, that lot may be offered again at the discretion of the auctioneer whose decision shall be absolute and ﬁnal.
All bids are legally binding

The auctioneer has the right;

a)to refuse any bid;

b)to advance the bidding at his absolute discretion;

c)to place a reserve on any lot;

d)to place a bid or bids on behalf on the seller;

e)to withdraw any item from sale;

f)to require a successful bidder to pay forth with the whole or any part of the purchase price

Auctioneer means “Duco” its servants and/or elected agents. The Auctioneer shall not be responsible for any defects in any lot or for any errors of description or for genuineness or authenticity of any lot and no compensation shall be paid in respect of the buyer.
On Auctioneer’s request, all bidders shall be called upon to provide their full name, residential address, daytime telephone number and proof of identity.
Notwithstanding speciﬁc terms of the auction item, travel packages and items deemed experiential in nature, must be redeemed no later than 8 months from the day of the auction.
Duco and the Charity shall not be responsible for any errors, third-party contractors to the auction, cancellations, faulty goods, non-delivery, refunds or non-redemption of the auction item.
Business customers agree that where products or services are purchased for the purpose of a business the Consumer Guarantees Act 1993 Act does not apply.
Each lot shall be paid for and removed (after Auctioneer’s sighting of receipted amount) no later than seven days after the auction, failing which the Auctioneer shall have the right to forfeit any deposit paid by the buyer and to sell the lot either by public or private sale and the deficiency on and costs of resale shall be borne by the defaulting buyer.
Payment of the purchase price shall be made in cash, by credit card or by cheque on the day of the sale or within seven days of the auction.
The silent auction is considered closed and no further bids can be taken after the official bid sheet is picked up by Duco staff. This supercedes any advised time by the Master of Ceremonies or on the dinner programme.

Failure to make Payment

If a purchaser fails either to pay for or take away any lot Duco shall, without further notice to the purchaser at its absolute discretion and without prejudice to any other rights or remedies it may have be entitled to, exercise one or more of the following rights or remedies:

To charge interest on the purchase price at a rate 5% above Duco’s bankers’, then current rate for commercial overdraft facilities, to the extent that the price or any part of it remains unpaid for more than seven days from the date of the sale. The charging of interest does not imply the granting of any extension of any credit terms. Any expenses, disbursements and legal costs incurred by Duco in the collection of outstanding monies shall be paid by the buyer.
To rescind the sale of that or any other lot sold to the purchaser at the same or any other auction.
To resell the lot by public or private sale. Any deficiency resulting from such resale after giving credit to the purchaser for any part payment together with all costs incurred in connection with the lot shall be paid to Duco by the purchaser. Any surplus over the proceeds of sale shall belong to the seller and in this condition the expression “proceeds of sale” shall have the same meaning in relation to a sale by private treaty as it has in relation to a sale by auction.
To store the lot whether at Duco’s own premises or elsewhere at the sole expense of the purchaser and to release the lot only after the purchase price has been paid in full plus the accrued cost of removal storage and all other costs connected to the lot.
To issue proceeding against the purchaser for damages for breach of contract.
To retain possession of that or any other lot purchased by the purchaser at that or any other auction and to release the same only after payment of money due.
Duco shall be entitled to a possessory lien on any property of the purchaser for any purpose while any money remains unpaid under this contract.

Collection

Purchases are to be taken away at the buyer’s expense immediately after the sale except where payment is outstanding. If this is not done Duco will not be responsible if the lot is lost, stolen, damaged or destroyed and the purchaser will still be held liable for the outstanding amount. Any items not collected within seven days of the auction may be subject to a storage and insurance fee. A receipted invoice must be produced prior to delivery of any lot.