INFORMATION FOR BUYERS

1. Young's Auctions act purely as agent for the vendor & is not responsible for any act or omission on behalf of the vendor or the buyer.

 

2. No warranty is given with any lot & the auctioneer is not responsible for the correct description, genuineness, authenticity of or any fault or defect or damage to any lot. It is therefore expected & recommended that bidders examine each lot prior to auction & are aware of what they are purchasing.

 

3. The highest bidder for each lot shall be the purchaser. In the case of any dispute the auctioneer may offer the lot for re-auction, as he sees fit.

 

4. All bidders must register at our office prior to bidding at the auction. A $50 cash deposit is required. The deposit will be refunded in full if the bidder does not buy anything at the auction.

 

5. The auctioneer has the right to advance the bidding at any rate he so desires, refuse any bid, refuse bids from any person he chooses, withdraw any lot for auction or bid on behalf of the vendor or absentee bidder without disclosure.

 

6. All auction purchases must be paid for & removed from the sale-rooms by 12.00 noon on the Saturday immediately following the Friday auction. Any item not paid for and removed will be cancelled from the auction and the buyer will lose their deposit. Buyers who have paid for their goods will have their items sent to storage at their own expense.

 

7. Young's Auctions can arrange to have goods delivered on your behalf, via a contracted delivery company. Buyers who wish to have their goods delivered must make the arrangements before 6.00 pm on the day of the auction.

 

8. Young's Auctions charge a Buyer’s Premium of 15% of the hammer price of all items sold at auction.  All items sold at Young's Auctions are sold ‘GST inclusive’, meaning that any GST payable on the goods is included in the 15% Premium.

 

9. If you are unable to attend the auction then you can leave an Absentee Bid with us. This is the authority for us to bid at the auction on your behalf. This is a binding agreement and any purchases made at the auction must be completed by the buyer.

 

10. Young's Auctions do not accept any responsibility for the failure to execute any Absentee Bid on behalf of any client and will not be held responsible for any losses for such failure.

 

11. Telephone bids may be placed on any item with a minimum estimated value of $1000 or more. Young's Auctions do not accept any responsibility for the failure to contact any client using this method of bidding. Clients wishing to use this service are reminded of such problems as being out of range, engaged lines, drop-outs, inaudible ring-tones, ‘being away from the phone’ and other such circumstances.

 

12. All Absentee Bids & Telephone Bids must be submitted in writing at least 1 hour before the start of the auction. Any alteration to any previously arranged bids must also be given in writing.

 

13. All lots are held at the risk of the buyer at the fall of the hammer.

 

14. Bidders are reminded that most of the items sold at auction are second-hand, ex-floor stock, seconds, old or aged in many ways. Such items are rarely in the perfect state that they were when originally produced and it is therefore reasonable to expect that they are no longer in ‘perfect’ condition. All items are sold ‘as is’, meaning that they are ‘as they are’, with all their faults, imperfections & flaws. Bidders are reminded again to inspect the goods before buying.

 

 

15. Young's Auctions acts solely as agent for the vendor & holds the items for purpose of sale by auction or if the item fails to sell at auction, by private sale.

 

16. The vendor warrants & represents that they are the unencumbered true owner of the items & that they are fully entitled to sell them.

 

17. Subject to the agreed reserve price (if any), Young's Auctions are entitled to sell the items to the highest bidder at auction or anytime thereafter, prior to the receipt of written withdrawal instructions from the vendor. Young's Auctions reserves the right to lower the commission rate charged to the vendor to sell the items below the stated reserve & nett the vendor the original proceeds.

 

18. Young's Auctions is entitled to deduct the commission fee as specified from the sale proceeds at the time of settlement together with all other charges reasonably incurred by Young's Auctions on the vendor’s behalf. The commission will be based on the gross sale price of the items.

 

19. Young's Auctions has complete discretion to offer the items for sale & as to the date, time & manner in which the auction is conducted.

 

20. The vendor gives Young's Auctions the right to photograph the items and to use this material at any time before, during or after the auction.

 

21. Young's Auctions may, at the expense of the vendor, seek the opinion of an expert in relation to the items.

 

22. Young's Auctions accepts no responsibility to the vendor (or any person claiming through the vendor) for any incorrect opinion, mis-description or incorrect statement. The vendor acknowledges that any statements made as to the originality, genuineness, authorship, age, condition, estimate & price of the items are statements of opinion & to the best of our knowledge.

 

23. The vendor will indemnify & keep Young's Auctions indemnified against any claim by the purchaser against Young's Auctions in relation to the items.

 

24. Young's Auctions will pay the vendor the proceeds of the sale less all charges for commission, cartage, advertising, handling, storage & any other reasonable expenses within 21 days of the completion of sale of all the items on the receipt provided that Young's Auctions has been paid in full by the purchaser.

 

25. If the items remain unsold after the auction the vendor must pay to Young's Auctions all expenses incurred. Young's Auctions reserve the right to arrange storage of the items at a location other than Young's Auctions at the expense of the vendor.

 

26. Reserves (minimum auction price) will not be accepted on any item valued at less than $800 by Young's Auctions. (Young's Auctions will not accept any goods where we consider the vendor’s expected price to be unrealistic.)

 

27. Young's Auctions reserve the right to lower any reserve by up to 20% in each subsequent auction when an item does not sell.

 

28. The vendor may withdraw the item/s at any time prior to the auction, however a handling fee of $40 or 25% of the reserve of each lot (whichever is greater) will be payable to Young's Auctions. If there is no reserve, a fee of 25% of Young's Auctions estimated value will be charged. The vendor will also be liable for any other expenses incurred by Young's Auctions for the purpose of selling the item/s.

 

29. The vendor may increase the reserve after the goods have been accepted for sale but a charge of 25% of the new reserve will be payable it the item fails to sell.

 

30. Any unsold item must be removed from the sale-rooms by midday the following Saturday and all charges in relation the auction must be paid in full before Young's Auctions will release the goods.