Terms and Conditions for Guy Earl-Smith
Conditions of Sale
Important Information as Guide for Buyers
This auction is sold in United States Dollars (USD) and subject to the information below and the Terms and Conditions of Business printed in this catalogue.
Buyer Registration
All prospective buyers are required to register their name, address and telephone contact details in order to obtain a bidding number.
Buyers Premium
A charge for internet buyers 18% this includes GST on all successful bids.
Goods and Services Tax
Some lots may be subject to GST. This is charged on the Hammer Price at the standard rate of 10 %. The symbol * after the lot number will identify lots to which GST applies.
Estimates
These appear with each lot and should be treated as a guide regarding the value of a lot based on market trends and historic realisations. Estimates do not include the Buyers Premium or GST and actual prices realised at the sale may fall within, above or below the estimate.
Condition of Lots
It is recommended that prospective buyers thoroughly examine all lots prior to purchase. All lots are sold 'as is'. Imperfections or defects are not necessarily indicated in the catalogue.
Condition Reports
Should a prospective buyer be unable to inspect a lot at pre-sale viewings a condition report can be made available upon request. A condition report is a statement of opinion only and not of fact.
Absentee Bidding
For prospective buyers unable to attend an auction, all bids should be lodged as Absentee Bids prior to the auction. Absentee Bids must be advised in writing. Appropriate forms are available with the catalogue and upon request. In the event of two or more buyers submitting identical bids for a lot the first bid received takes precedence.
Bidding Increments
Bidding increments are subject to the auctioneer's discretion; however the following bidding intervals are generally used. Absentee bids that do not conform to these intervals may be lowered to the next bidding interval:
500/1,000 by 50
1,000/2,000 by 100
2,000/5,000 by 200
5,000/10,000 by 500
10,000/20,000 by 1,000
20,000 and above at auctioneers discretion.
Successful Bids for Absentee Bidders
All lots will be sold to the highest bidder at the next bidding increment and subject to reserves. For example should a lot carry an estimate of 500/1,000 and the two highest bids tendered are 500 and 3,000 the lot would be sold for 550. Should the highest bid not reach the reserve the lot may be referred to the highest bidder.
Payment
All purchases must be paid for in full and within five working days of the sale. For all purchases exceeding US$2,000.00 a deposit of 20% of the full invoice amount must be paid on the day of the sale.
Method of Payment
Payments can be by Direct Banking Transfers and International Wire Transfers. Payments by International Banking Transfers will incur a Banking Fee of US$25.00. All payments must be cleared with our bankers prior to the removal of any purchase.
Collection and Delivery
Unless prior arrangements have been organised all purchases must be collected no later than 5 days of the sale date subject to full payment being received.
Permits
The Buyer is solely responsible for obtaining any export license or permit that may be required in connection with a purchased Lot.
Storage and Insurance
After five working days unless prior arrangements have been made, all uncollected purchases will attract a charge of US$44.00 per lot per day. After the fall of the hammer no insurance cover is provided for any purchased lot.
TERMS AND CONDITIONS OF BUSINESS
The terms and conditions set out below apply to all sales by Online Auction, private treaty, public auction or auction by private treaty held by East Australian Trading Consolidated (EATC) trading as Guy Earl-Smith Art and Antiquities to the exclusion of other terms and conditions and no modifications will be binding unless accepted by East Australian Trading Consolidated in writing.
1. Agent
EATC sells by Auction, Private Treaty and Auction by Private Treaty as Agent for the Vendor and is not responsible for any default by the Buyer or Vendor.
2. Agent Discretion
The Agent has the right at its sole discretion without giving any reason therefore to; (a) refuse any bid, to divide any Lot, to combine two or more Lots, to withdraw any Lot from the sale and, in the event of dispute, to re-offer any Lot for sale again, (b) to keep secret the existence of the Reserve Price of any Lot, (c) to bid on behalf of a Vendor or any prospective Buyer with or without disclosure, (d) in the event any Lot is not sold at auction to re-offer the Lot for sale by Private Treaty subject to these Terms and Conditions; (e) to refuse any person or persons admission to, or eject them from the premises site.
3. The Buyer
(a) The highest bidder shall be the Buyer except in the case of a dispute. If during the auction the Agent considers that a dispute has arisen, he/she has absolute discretion to settle it or re-offer the Lot. (b) Every Buyer shall be deemed to bid as principal unless prior to the auction he/she discloses to the Agent that he/she will be bidding on behalf of a principal and supplies the full name and address of his/her principal and a copy of written authority to bid for and on behalf of that principal and such authority is acceptable to the Agent.
4. Contract of Sale
(a) On acceptance of bid by the fall of the hammer or by the acceptance of a bid by Absentee Bid instructions, a contract of sale is made between the Vendor and the Buyer. EATC is not a party to the contract of sale and shall not be liable for any breach thereof by either the Vendor or the Buyer. (b) Ownership of the Lot will pass to the Buyer only when the full Purchase Price has been received by the Agent subject to clearance of funds.
5. Buyer Registration and Absentee Bidding
All bidders shall register by completing and provide proof of identification acceptable to the Agent. Buyers that are unable to attend a sale should register in writing by way of Absentee Bid Forms. Absentee Bid Forms should be lodged prior to the auction as shown in any Catalogue in respect of the relevant sale. Absentee Bids without a maximum bid will not be accepted. Appropriate forms are available with the Catalogue and upon request. In the event of two or more buyers submitting identical bids for a Lot the first bid received will be deemed to be the highest bid.
6. Bid Regulation
The Agent may at his/her sole discretion determine the advance of bidding or refuse a bid. Any bid acknowledged and relied upon by the Agent may not be with drawn
7. Reserves
(a) Each Lot is offered for sale subject to any Reserve Price placed by the Agent in agreement with the Vendor. Where a Reserve has been agreed the Vendor may not change the Reserve without the written consent of the Agent. (b) Neither the Vendor nor any person on the Vendor's behalf may bid on the Vendor's own property. If any such bid is nonetheless made then the Agent may sell the Lot to the Vendor without observing any Reserve and the Vendor shall pay the Agent the Buyers Premium in addition to the Vendors Commission and Expenses. (c) If no Reserve is placed on a Lot the Agent shall in no way be held liable should the Lot be purchased for a price below the lowest estimated selling price of a Lot as shown in any Catalogue in respect of the relevant sale. (d) The Vendor authorises the Agent to accept bids at less than the Reserve, provided that for the purpose of determining any amounts due to or from the Vendor under these conditions, the Hammer Price for any Lot sold at less than the Reserve will be deemed to have been the full amount of the Reserve, and not the lower price at which the Lot was actually sold.
8. Buyers Premium
The Buyer shall pay the Agent a Buyers Premium based on the Hammer Price the terms of which will be shown in any Catalogue in respect of the relevant sale. The Buyer acknowledges that the Agent may receive commissions from the Vendor.
9. GST and Vendor Authorisation
(a) A Vendor who sends for sale by Public Auction, Auction by Private Treaty or Private Treaty Sale, any item which is an asset of his/her business must disclose to the Agent whether or not he/she is a registered person for GST purposes in Australia an if so, declare his/her registered number and ABN. This information must be supplied to the Agent prior to goods being consigned. (b) The Vendor authorises the Agent to deduct from the Hammer Price and retain a commission equal to the percentage of the Hammer Price as specified at the time of consignment and as shown on the consignment notice at any time subsequent to the sale, but subject to full settlement by the Buyer with cleared funds.
10. Buyer's Responsibility, Inspection and Warranties
(a) Each Buyer making a bid for a Lot acknowledges that he/she has satisfied himself/herself fully before bidding by inspection or otherwise as to all the sale Terms and Conditions the physical condition and description of the Lot including but not restricted to whether the Lot is damaged or has been repaired or restored. (b) Any Warranties which might otherwise be implied by the Sale of Goods Act 1923 are hereby excluded and shall not apply. All Lots are sold 'as is' and EATC and the Vendor make no representations or warranties regarding any Lot.
11. Rescission
Not withstanding any other terms of these Condition, if within 21 days after the sale EATC have received from the Buyer of a Lot notice in writing that in his/her view the Lot is a deliberate forgery and within seven days after such notification the Buyer returns the same to EATC in the same condition as at the time of sale and by producing evidence, the burden of proof to be upon the Buyer, satisfies EATC that considers in the light of entry in the Catalogue the Lot is a deliberate forgery, then the sale of the Lot will be rescinded and within seven Working days of the Vendor refunding to EATC the amount paid to the Vendor in respect of the Lot EATC will reimburse the Buyer for the Hammer Price paid for the relevant Lot within seven Working days.
12. Catalogue Descriptions and Statements
(a) EATC do not accept responsibility for the authenticity, attribution, genuineness, origin, authorship, date, age, period, condition or quality of any Lot, unless they have been instructed in writing by the Vendor so to certify, and in such cases EATC do so as agents of the Vendor and are not themselves responsible for such a claim. Any Illustration in the Catalogue is solely for guidance for prospective buyers and is not intended to be relied upon in terms of tone or colour or necessarily to reveal imperfections in any Lot (b) All statements, whether printed in the Catalogue or made orally, as to matters set out in (a) above are statements of opinion only and are not to be taken as being or implying any warranties or representations of fact by the Agent unless they have been instructed in writing by the Vendor so to certify, and in such cases EATC do so as agents of the Vendor and are not themselves responsible for such a claim. (c) Any claim by statute must be received in writing by EATC within ten days of the relevant sale. (d) All conditions, notices, descriptions statements or any other matters in a Catalogue and elsewhere concerning any Lot are subject to any statements modifying or affecting any Lot made publicly by the Agent prior to any bid being accepted for any Lot.
13. Illustrations and Photography
In accordance with the Consignment Form or any further written advice, EATC shall have the right to photograph, digitally record and make illustrations of any Lot supplied by the Seller, whether or not in conjunction with Sale, at a cost to the seller. The copyright of all photographs taken, digital images and illustrations made of any Lot by and on behalf of EATC shall be the absolute property of EATC.
14. Indemnity
The Vendor shall indemnify EATC against any claims in connection with and goods sold by EATC on the Vendor's behalf.
15. Default
EATC disclaim any responsibility for default by either the Buyer or the Vendor because they act as agents for the Vendor only and therefore do not pay out to the Vendor until payment is received from the Buyer. Instructions given by telephone are accepted at the sender's risk and must be confirmed in writing forthwith.
16. Payment and Removal of Purchases
(a) The purchase Price must be paid in full to the Agent within two working days after the sale unless such other terms or period have been specified or agreed to prior to the sale. (b) Payment shall be made in United States Dollars (USD) via, Banking Transfers direct to the Agent. Payments by International Banking Transfers will incur a Banking Fee of AUD $25.00. No Lot may be removed until the full Purchase Price has been received by the Agent and ownership of the Lot will not pass to the Buyer until cleared funds in payment of the full Purchase Price shall have been received by the Agent. (d) On acceptance of bid by the fall of the hammer or by the acceptance of a bid by Absentee Bid instructions the successful bidder may be required to provide a deposit equal to 20% of the Hammer Price in cash or by Bank Cheque. If the successful bidder fails to do so, the Lot may, if the Agent decides (at its absolute discretion) be re-offered for sale.
17. Removal and Responsibility of Purchased Lots
(a) All Lots must be removed not later than two working days after the sale. (b) The Buyer shall be responsible for any removal, storage or other charges for any Lot not removed in accordance with the time limit specified in (a). (c) The Buyer shall be responsible for any loss or damage to a Lot purchased by him/her from the acceptance of bid by the fall of the hammer or by the acceptance of a bid by Absentee Bid instructions and neither EATC, its agents nor its employees shall be responsible for any loss or damage of any kind, whether caused by negligence or otherwise, while the Lot is in its custody or under its control. (d) The Buyer shall be solely responsible for obtaining any export License or permit that may be required in connection with a purchased Lot.
18. Non-Payment or Failure to Remove Purchases
1. If the Purchase Price is not paid in full to the Agent within two working days after the sale or according to such other terms or period specified or agreed to prior to the sale and/or the Lot has not been removed within two working days after the sale the Agent shall without further notice to the Buyer and at its absolute discretion, be entitled to exercise one or more of the following remedies: (a) To re-sell the Lot without any Reserve and the Buyer agrees that any re-sale price achieved shall be reasonable; (b) To absolutely forfeit any monies the Buyer may have paid; (c) To remove, store and insure the Lot at the expense of the Buyer; (d) To charge interest on the Purchase Price and Expenses at a rate of 15% calculated on a daily basis after as well as before judgment or order, from the date which the Purchase Price becomes payable; (e) To retain any Lot sold by the Buyer at the same or any other sale until payment of the of the Purchase Price by the Buyer; (f) To apply the proceeds of the sale of any Lot then due or at any time thereafter becoming due to the Buyer in payment or part payment of the Purchase Price; (g) To exercise a lien on, and at the Agents' discretion, exercise a power of sale over any other property of the Buyer in the Agents control for any purpose; (h) To rescind the sale of the Lot or any other Lot sold to the Buyer at the same or any other sale; (i) To repossess any goods comprising any Lot in respect of which payment is overdue and thereafter resell the same, and for this purpose the Buyer herby grants an irrevocable License to EATC its employees and its agents to enter upon all or any of the Buyer's premises, with or without vehicles, during normal business hours, without prejudice to any other rights of EATC; (j) To issue legal proceedings against the Buyer for damages for breach of contract; (k) To reject a bid from the Buyer at any future sale or to require the Buyer to pay a deposit before any bid is accepted by the Agent at any future sale. 2. The Buyer shall pay all legal and other costs if enforcement incurred by EATC and/or the Vendor, whether or not Court proceedings shall be issued, on a full indemnity basis together with interest thereon at the rate specified in condition 1 (d) above from the date the Buyer shall have become liable to pay costs.
19. Public Liability Risk of personal Loss or Injury
Every person on the Agent's premises at any time including any premises where a sale may be conducted or a Lot or part of a Lot, may be on view from time to time shall be deemed to be there at his / her own risk and shall have no claim against EATC, its employees or agents in respect of any accident which may occur, or injury, damage or loss howsoever caused.
20. Law of Conditions
These Conditions of Business shall be governed by and construed in accordance with the law of the State in which the sale has been conducted and all parties concerned hereby submit to the exclusive jurisdiction of that State's Courts.
Definitions of Clauses
"Agent and EATC": Refers to East Australian Trading Consolidated ABN 70 095 511 603, its agents and employees.
"Buyer": The person to whom a Lot is sold.
"Catalogue": Includes any advertisement, brochure, Price List and other publication.
"Expenses": In relation to the sale of any Lot refers to the Agents' charges and Expenses for insurance, illustration, special advertising, packaging, storage, freight, and any other Expenses properly incurred for the Sale .
"GST": Refers to The Good and Services Tax.
"Hammer Price": Refers to the price in Australian Dollars at which a Lot is sold by the Agent to the Buyer.
"Lot": Refers to any item or items consigned with a view to its or their sale at Public Auction, Auction by Private Treaty, or Private Treaty Sale
"Purchase Price" Refers to the aggregate of the Hammer Price, the Buyers Premium and any other charges and Expenses due from the Buyer.
"Reserve": Refers to the minimum Hammer Price agreed between the Agent and the Vendor at which a Lot may be sold.
"Sale Proceeds": Refers to the net amount due to the Vendor, being the Hammer Price less the Vendors Commission, Expenses and any other amount due to the Agent from the Vendor in whatever capacity and howsoever arising.
"Vendor": Refers to the owner and /or owners of each and every Lot offered for sale.
"Vendor's Commission": Refers to the commission due to the Agent from the Vendor upon the sale of a Lot.
Buyers Premium
A charge for buyers 18% this includes GST (Australian Goods and Services Tax).
Payment Info Information and Condition of Lots
Payment and Removal of Purchases
(a) The purchase Price must be paid in full to the Agent within two working days after the sale unless such other terms or period have been specified or agreed to prior to the sale. (b) Payment shall be made in United States Dollars (USD) via, Banking Transfers direct to the Agent. Payments by International Banking Transfers will incur a Banking Fee of AUD $25.00. No Lot may be removed until the full Purchase Price has been received by the Agent and ownership of the Lot will not pass to the Buyer until cleared funds in payment of the full Purchase Price shall have been received by the Agent. (d) On acceptance of bid by the fall of the hammer or by the acceptance of a bid by Absentee Bid instructions the successful bidder may be required to provide a deposit equal to 20% of the Hammer Price in cash or by Bank Cheque. If the successful bidder fails to do so, the Lot may, if the Agent decides (at its absolute discretion) be re-offered for sale.
Condition of Lots
It is recommended that prospective buyers thoroughly examine all lots prior to purchase. All lots are sold 'as is'. Imperfections or defects are not necessarily indicated in the catalogue.
Condition Reports
Should a prospective buyer be unable to inspect a lot a condition report can be made available upon request. A condition report is a statement of opinion only and not of fact.
Shipping Info.
Please forward all shipping inquiries to Mr. David Said; e-mail: dsaid@ozemail.com.au, Tel: +61 2 9363 3046; +61 413 598 713
We will gladly advise in facilitating these services, and can recommend certain steps. However, it is the buyer's responsibility to make contact with the shipper and follow through with the shipping process.
Please take note of the important information for buyers and sellers in the catalogue; in particular the reference to insurance and export / import permits. The Buyer is solely responsible for obtaining any export / import license or permit that may be required in connection with a purchased Lot and no insurance cover is provided after the sale of a lot. Naturally we will make every effort to hold your purchases in safe keeping until collected.
