Auction Terms & Conditions for Buyers

It is important that bidders make themselves aware of the following. Do not bid if you are not prepared to comply fully with the terms and conditions for this auction.

Purchaser

1. The purchaser is to be the highest bidder. Any dispute arising as to the highest bidder will be determined by the Auctioneer who may re-offer any disputed lot.

Auctioneer

2. The Auctioneer shall regulate all bidding. Usual procedure is for bids to be advanced by not less than 5% on the previous bid. The Auctioneer’s starting price shall be one bid over the second highest absentee bid received. Absentee bidders should bid early, as first bids at the same level receive priority. 

3. If so requested, room buyers may be required to pay the whole or part of the purchase price at the sale. Failure to comply with these rules in respect of any lot entitles the Auctioneer to re-sell any lot, any resulting deficiency being made good by the defaulter. 

4. The Auctioneer reserves the right to (a) refuse any bid, (b) bid on behalf of clients. While every care and attention is taken in executing bids and written instructions, the Auctioneer regrets that he/she cannot accept responsibility for any errors. 

5. The Auctioneer shall not be liable to the Vendor for any default of the Purchaser or Vendor.

Disputes

6. In the event of any dispute, the Auctioneer shall have sole discretion to resolve the dispute and may re-offer the disputed lot.

Reserve Price

7. Bids below 60% of the published estimate will not be accepted. 

Buyer’s Premium

8. A 22% buyer’s premium (including GST) with a minimum charge of $10 per lot will be added to the hammer price of each lot and is payable by ALL buyers.

Bidder Details

9. All bidders must complete a bidder’s registration form and supply sufficient information and references as required by Downies Australian Coin Auctions – this will require the furnishing of sufficient proof of identity. The submission of absentee bids constitutes registration; though the Auctioneer reserves the right to further establish the bona fides of such bidders and require a security deposit or credit card details prior to acceptance of the bids. Clients unknown to Downies Australian Coin Auctions must register no later than 24 hours prior to the commencement of the sale.

Agent Bidding

10. Agents bidding on behalf of disclosed and undisclosed clients do so on their own responsibility both for payment and safe delivery of the lots. Agents will be responsible for any non-payment or shortfall of accounts.

Payment Terms

11. Title of purchased lots shall not pass until the purchase price and buyer’s expenses are paid in full with cleared funds in Australian Dollars. We accept Cash, EFTPOS, Electronic Funds Transfer, Bank or Personal Cheque (subject to processing fee), Credit Card (subject to surcharge) and Paypal (subject to surcharge). Overseas buyers not using credit card facilities will be required to add AUD $30 to payments to cover bank charges; this will appear on the buyer’s invoice. Clearance of cheques and confirmation of direct deposits can delay collection/delivery.

Purchaser Responsibilities

12. The buyer of each lot is to be responsible for it from the time it is “knocked down”. Payment is to be made in full with cleared funds before delivery or collection. The lot(s) are to be paid for by Australian buyers within two days of receiving the invoice, and by overseas buyers within 7 days of receiving the invoice. A service charge of 2% per month will be added to all overdue accounts. Failure to pay in full within the specified time also entitles the Auctioneer to re-sell the lots, with any resulting deficiency being made good by the defaulter.

Delivery/Collection of Lots

13. Lots can be picked up from 3 Redland Drive, Mitcham. No lots will be delivered to buyers without payment in full. Lots purchased on behalf of absentee bidders will be fowarded, fully insured, by the most practical method at the risk of the purchaser who shall bear all costs incurred. No lots will be delivered or collected during the Auction. Absentee and room bidders may vary these delivery methods, but at their own risk. Such alterations must be advised in advance.

General

14. Each lot is sold as genuine and correctly described. Unless described, all official packaging and relevant certificates are presented within the lot. The purchaser is at liberty to return the lot by giving written notice within seven days (or in the case of overseas buyers, within 14 days) of the sale, if he/she proves that the lot is not genuine or not correctly described. The onus on proving a lot to be not genuine lies with the purchaser. Proof of the inability of a recognised expert to express a definite opinion will not discharge this onus. 

15. Watches, instruments and devices with working mechanisms are verified to be accurately described. Whilst every care is taken to provide secure packaging for all items in transit, no responsibility may be assigned to the Auctioneer for lots which are described as being ‘in working order’ but are found to be not working at time of receipt. Such lots are sold “as is” and are not subject to return. 

16. No lot is to be rejected if, subsequent to the sale, it has been removed from its sealed holder and/or has been treated by any process, unless the Auctioneer’s permission to subject the lot to such treatment has first been obtained in writing. 

17. No lot is to be rejected if the purchaser or his agent has inspected the lot prior to the sale, irrespective of whether or not any item or items are incorrectly described. 

18. Failure on the part of the bidder or purchaser to comply with the conditions stated previously entitles the Auctioneer to cause the bidder or purchaser to forfeit any deposit held. Any uncleared lots may be re-sold by public or private sale and any resultant deficiency shall be made good by the defaulter. 

19. Bids from minors will not be accepted unless accompanied by a full cash deposit or suitable guarantee. 

20. Phone bids are most welcome but must be confirmed in writing well before the sale.

All bidders please note: 

For this Auction a 22% buyer’s commission (includes GST) with a minimum charge of $10 per lot will be added to the hammer price of each lot. All successful buyers (Australian and overseas) must pay the full charge. 

Purchases paid for by credit card will incur a 1.5% charge on VISA/MasterCard, and 2% charge on AMEX (includes GST). 

For clients wishing to pay by Electronic Funds Transfer, our banking details are as follows: 

Bank: Westpac Banking Corporation Ltd
Name: Downies Coins Pty Ltd
BSB: 033 031
Account Number: 267489
Swift Code: WPACAU2S
(for overseas transfers, please add AUD $30 for bank fees)

Paypal Details:

Paypal Account Name: auctions@downies.com
Paypal surcharge - Australia +3% & International +3.5%

A service charge of 2% (GST inclusive) per month will be added to all overdue accounts.

Viewing

Downies Australian Coin Auctions will apply the following strict guidelines for intending auction viewers:

Viewers will be admitted to the viewing room subject to positive proof of identity – this requires the furnishing of a Government issue photo ID (such as a driver licence, passport). If no photo ID is available, then two forms of ID, with at least one with a signature (credit cards, for example), will be acceptable. These conditions will be strictly adhered to, regardless of any previous dealings the viewer has had with Downies or Downies Australian Coin Auctions.

No hand luggage (such as bags) or hand-held apparel will be permitted in the viewing room under any circumstances. Staff are happy to hold such items in a secure room on your behalf.

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