Xoox Pty Ltd T/as auctionAUS
VENDOR AGREEMENT & CONTRACT - General Auction Terms & Conditions
By signing this document you agree, you have read and understood the auctionAUS Terms & Conditions.
By signing this document you agree to all the Terms & Conditions for auctioning your items with auctionAUS.
1. The vendor is exclusively contracting auctionAUS to conduct a clearing sale of item or items. The description ‘item’ includes all, plant & equipment, machinery, goods, chattels and services.
2. ITEM OR ITEMS FOR SALE AT AN auctionAUS AUCTION: Each item separately auctioned; or multiple items auctioned as one lot; are a separate contract of sale each time.
3. AGENT:
3.1 Auctionaus acts solely as agent for the vendor, for the purpose of selling the vendors items.
3.2 As agent, auctionaus can only pass on proceeds ($amounts) that are paid by the buyer. NOT unpaid money.
4. OWNERSHIP & CLEAR TITLE:
4.1 The vendor must sign a Declaration of ownership and that items have clear and unencumbered title to be sold.
4.2 The vendor must produce a signed copy of Power of Attorney, or proof of Executor to a Deceased Estate, or document with legal authority to sell.
4.3 The vendor must satisfy all inheritance and gifted claims by any benefactor or person before signing this document. Therefore upon signing, all such claims on an item are expressly negated. Note as to rights of possession at point 9.
4.4 The vendor must reasonably warn any person that taking an item once it is consigned and contracted to auctions for sale, is an illegal offence. And may be reported to police as theft.
4.5 The title of ownership stays with the vendor until the item is paid for in full by the buyer.
5. KNOWLEDGE OF ITEM:
5.1 The vendor must state all knowledge of an item, when asked. auctionAUS are not responsible for any statement or omission by the vendor.
6. TIME, DATE & VENUE:
6.1 The vendor agrees, auctionAUS decides the time, date and venue an item is sold.
7. SOLD:
7.1 An item is ‘sold’ when the auctioneer says ‘sold’ or in a customary way indicates ‘sold’ or at the fall of the hammer. NOT ownership and title as per point 4.5
8. AUCTIONEER REFUSING A BID:
8.1 The auctioneer expressly has the right to refuse a bid or bidder and to exclude any person from the bidding for any reason. Without giving a reason.
9. POSSESSION:
9.1 The vendor consigns all rights of possession of an item to auctionAUS. NOT ownership and title as per point 4.5
9.2 The vendor accepts, possession of an item will pass to the buyer when the item is sold. NOT ownership and title as per point 4.5.
9.3 On the fall of the hammer, the buyer is responsible for security of an item and can take possession of an item. NOT ownership & title as per 4.5.
9.4 If a vendor reposes an unreserved item before auction; a $50 fee or 5.5% commission is charged, whichever is the greater.
10. WITHDRAWAL:
10.1 The auctioneer solely has the right to withdraw an item at any time before that item is put up for auction.
11. HIGHEST BIDDERE IS BUYER:
11.1 The buyer of an item is the bidder advancing the highest bid for an item, subject to any price reserve.
11.2 If there is a dispute in the bidding the auctioneer shall determine a decision.
12. RESERVES:
12.1 An item may have a price reserve set by the vendor. The reserve is confidential between the vendor and auctioneer. The auctioneer will announce an item has a reserve before auctioning it.
12.2 If a reserved price item is unsold a 5.5% fee of the reserve is charged by auctionAUS.
12.3 The auctioneer reserves the sole right to bid on a reserved price item on behalf of the vendor. The auctioneer is expressly instructed to cease bidding on the vendor’s behalf once the reserve price has been obtained
12.4 If the auctioneer does NOT announce an item with a reserve, then the item is unreserved and sold to the highest bidder. IF the whole auction is advertised as a ‘no reserve auction’, then all items cannot have a reserve price.
13. PAYMENT:
13.1 The vendor is responsible to pursue and collect any unpaid money by a buyer.
13.2 The buyer must pay in full, for all items purchased before leaving the auction on auction day.
13.3 Payment can be either by; cash notes; cash cheque (cheque must be made to CASH); and Master Card or Visa Card.
13.4 No Merchant Fees are charged on Master Card and Visa Card. Any Merchant fees or electronic Transaction fees are paid by auctionAUS.
14. GST:
14.1 GST on an item will be announced prior to the item being put up for auction.
14.2 GST is calculated on the knock down price and added on top of the knock down price.
15. COMMISSION:
15.1 Commission is calculated at 15% of the knock down price of an item exclusive of GST.
15.2 Commission and GST and any other charge as per this agreement, are deducted from the total auction proceeds. With the balance of proceeds paid to the vendor.
15.3 auctionAUS will account to the vendor with an itemised and balanced account. Showing all item sales separately. Also showing GST amounts where applicable.
16. VENDOR BIDS PROHIBITED:
16.1 The vendor is prohibited from bidding on their own items. Nor to direct another bidder to bid on their behalf.
16.2 The vendor is prohibited from halting an auction of their item.
16.3 auctionAUS will only take bids from bidders attending in person at the auction and treat expressly with that bidder at the auction. auctionAUS will not take phone bids, nor absentee bids.
17. ADVERTISING:
17.1 Advertising costs; are shared by every vendor in the auction, on a % basis. The vendor’s percentage of the auction proceeds is used to calculate the percentage of the advert cost to the vendor. auctionAUS does NOT charge more than the advertising cost.