Terms & Conditions of Auction
1. All intending bidders must obtain a buyer number and be registered to bid at auction, you are required to complete & sign a buyers registration form which states you understand the "Terms and Conditions of Auction Sale". Please visit the on-site office to complete this prior to the auction commencing.
1.a. The highest bidder will be the Purchaser, subject to Vendor acceptance, but if any dispute arises as to the last or highest bidder, at the discretion of the Auctioneer, the lot in dispute may be put up again and resold.
2. Most auction bid prices are GST inclusive, however some auctions will be GST exclusive and therefore will be clearly highlighted in the auction catalogue. In the instance where an auction is conducted on a GST exclusive basis, this will typically mean that the hammer price will be plus GST and plus the (nominated) buyer’s premium for that auction when you receive your invoice.
2.a. Lots sold in an auction whereas the owner or vendor is not registered for GST (in which case GST is not payable on the lot bid for) will be separately identified in the auction catalogue.
3. The Auctioneer may refuse to accept any bid or withdraw any lot from the sale.
4. The Auctioneer may hold a bid and refer such a bid to the Vendor before acceptance. In some circumstances further negotiations may only be held with the highest bidder.
5. The Vendor reserves the right to bid either by the Auctioneer or the Vendor’s agent for any lot offered. The Auctioneer has been nominated for this duty. No person will be allowed to retract his or her bid after being taken.
6. All Purchasers shall, on the fall of the hammer, if required to do so, pay a deposit of 10% or $500 whichever the greater of the purchase price in cash, bank cheque, EFTPOS or credit card (processing fee applies) and pay the balance in cash, bank cheque, BPay, EFT, EFTPOS or credit card (processing fee applies) by 4:00pm the working day after the sale.
6.a. The balance of the purchase price are to be paid and cleared funds received by no later than 3.00pm the next business day after the sale.
6.b. Terms are strictly cash, bank cheque, BPay (overnight transaction), credit card (processing fee applies), EFT (possible overnight transaction), or EFTPOS before delivery.
7. Ownership of a lot shall not pass to the Purchaser until the Auctioneer has clear title to the payment from the Purchaser.
8. All goods must be removed by the Purchaser no later than 4.00pm on the 2nd working day after the sale. Storage charges may apply on lots which have been paid for and which remain uncollected by the 2nd working day after the sale. No parties will be allowed to remove their lots or any portion thereof, until the purchase shall have been completed and the full purchase price paid to the Vendors or Auctioneers.
9. The Auctioneer shall not be responsible for any damage to property or injury to persons incurred during the removal of lots purchased.
10. Upon any Purchaser failing to comply with any of the above conditions any money deposited in part payment shall be absolutely forfeited and all lots uncleared may be resold and the deficiency (if any) on such resale, together with all costs and charges consequent upon such resale, shall be made good by the defaulter at this sale.
11. All lots, having been made available for inspection prior to auction, are offered for sale “as is, where is” with all faults (if any). To the full extent permitted by law and notwithstanding the contents of or any description given in any catalogue, advertisement, engineers’ report or other materials issued by the Auctioneer in relation to a lot, no express or implied condition, warranty or guarantee is made or given in relation to that lot as to its condition, quality, fitness for purpose, merchant ability or compliance with description. You should independently verify any information which is important to your purchasing decision.
12. To the full extent permitted by law, the Vendor and the Auctioneer will not be liable for any loss, damage, cost or expense suffered or incurred by a Purchaser arising out of the sale and purchase of a lot. Subject to all applicable laws, any liability of the Auctioneers shall be limited to a refund or credit of the charge made for services provided by the Auctioneers.
13. All vehicles are sold as unregistered unless otherwise stated by the Auctioneer.
14. Any deficiency in the goods sold shall not vitiate the sale, but neither the Vendors nor the Auctioneers shall be bound to deliver more than is in their possession.
15. A Buyer’s Administration Fee may be payable by the Purchaser on many lots sold at NASCO Auctioneers auctions. The fee applicable to a lot is noted in the catalogue. Where a fixed dollar amount is noted, the Buyer’s Administration Fee is inclusive of GST. Where a percentage is noted, the Buyer’s Administration Fee is inclusive of GST and will be calculated on the bid price of the lot.
16. Upon any purchaser failing to comply with any of the terms and conditions all monies received in part payment shall be absolutely forfeited to the vendor after the agents commission and costs and all lots not collected may be resold at public auction or private contract and the deficiency (if any) of such resale, together with all costs and charges attending, shall be made good by the defaulter at the sale.
17. The purchaser shall be responsible to ensure that the plant or equipment complies with the requirements of the Workplace Health and Safety Act before it is used in the workplace.