KYNETON AUCTION HOUSE TERMS & CONDITIONS. AUCTION TERMS AND CONDITIONS.
GENERAL CONDITIONS OF BUSINESS
KYNETON AUCTIONS: AUCTION TERMS AND CONDITIONS AT OUR AUCTION HOUSE
Kyneton Auctions is the agent for the seller in relation to the sale of a lot and is not responsible for any default by the seller or the buyer. An estimated selling range given by Kyneton Auctions is a statement of opinion and should not be relied upon as a representation of the sale price of the lot.
WARRANTIES OF SELLER
The seller warrants to Kyneton Auctions and the buyer that:
The seller owns the lot, or the seller is authorised to sell the lot by the owner of the lot.
The lot is free from all charges, encumbrances, registered security interests and third-part claims including a claim by a spouse or partner.
The seller has complied with all requirements, legal or otherwise, in relation to any export or import of the lot and has notified Kyneton Auctions in writing of any failure by third-party to comply with such requirements in the past.
The lot and any written or oral provenance given by the seller to Kyneton Auctions is authentic.
The lot is fit for purpose and safe if used for the purpose which it was designed for, and free from any defect not obvious on internal inspection.
The seller has notified Kyneton Auctions in writing of any materials, alterations to the lot of which the seller is aware, any concerns expressed by the third-party in relation to the authenticity, provenance, origin, age, condition of quality of the lot, and all information in the seller's possession as to the provenance and identification of the lot. The lot description is in compliance with all the warranties implied by consumer legislation.
PAYMENT TO SELLER
Kyneton Auctions is only liable to the seller for payment of the sale of proceeds if the purchase price has been received in cleared funds by Kyneton Auctions. Thereafter payment to the seller of sale proceeds are within fourteen days (14) excluding public holidays, of the receipt of the purchase price.
COLLECTION OF LOTS
The seller can only withdraw the lot from a subsequent auction by physically collecting the lot within seven (7) days of the proceeding auction from the premises.
If the seller does not want a lot disposed of if it is unsold in the first round of auction, the lot must be physically collected within three (3) days of the auction from the premises.
If the Lot is not collected in accordance with the above, Kyneton Auctions after a period of fourteen (14) days (during which time the Company may attempt to contact the Buyer), and in its absolute discretion and without prejudice to any other rights or remedies it may have, exercise one or more of the following remedies:
(a) remove, store and further insure the Lot at the expense of the Buyer;
(b) rescind the sale of that Lot or any other Lot sold by the Seller to the Buyer at the same or any other Auction and resell the Lot or any other Lot by Auction or private sale; or
(c) dispose of the Lot by donating it to charity if possible and if not disposing of it by other appropriate means.
In the event of a resale as set out in clause (b) the Buyer will be entitled to the Sale Proceeds paid for the resale but not a refund of the original Purchase Price paid.
FEES & CHARGES
Selling commission including compulsory indemnity fee of 20% inclusive of photography fees, insurance and GST.
Lot Fee of $6/item
Buyers premium of 23% inclusive of GST is added to your bid after the hammer falls. Be sure to factor this in to your auction bidding plans.
WITHDRAWAL OF A LOT
A seller may only withdraw a lot prior to the initial auction by written notice signed by the seller. If a seller withdraws a lot from sale they will need to pay to Kyneton Auctions the withdrawal fees which are based on the timing of the withdrawal, and the amount of work which Kyneton Auctions have undertaken on a particular lot.
SELLER INDEMNITY FOR COSTS
If Kyneton Auctions incurs any legal and other costs investigating or defending any claims concerning the ownership of a lot, the accuracy of the description of the lot contained in the catalogue or the warranties of the seller, the seller shall indemnify Kyneton Auctions for all such costs.
APPLICATION OF SALE PROCEEDS
Kyneton Auctions is authorised by the seller to apply any money held by Kyneton Auctions on behalf of the seller to the payment or reimbursement of any amount payable by the seller to Kyneton Auctions including the expenses and the withdrawal fees.
A HARD COPY OF THE ABOVE GENERAL CONDITIONS OF BUSINESS CAN BE PROVIDED UPON REQUEST BY THE SELLER FROM ANY KYNETON AUCTION STAFF MEMBER.