AUCTION TERMS & CONDITIONS
The auction Terms & Conditions, or the Terms of Sale are the terms upon which each bidder competes. These terms level the playing field for all bidders. The Terms & Conditions are incorporated into, and become material to the Contract formed through the auction process. They are not to be taken lightly. Auction Terms & Conditions change from auction to auction, and seller to seller. It is important to review the Terms & Conditions for each auction prior to bidding in the auction. Bidding in an auction confirms your agreement with the Terms & Conditions specific to that auction.
The Terms & Conditions stipulate such things as:
- The Buyer’s Premium, if any,
- Acceptable Forms of Payment,
- Payment Instructions,
- Acceptable Currency,
- Preview Dates and Times, and if an appointment is necessary
- Auction Location
- Winning Bidder Pickup Dates and Times, and if an appointment is necessary,
- The name of the Principal Auctioneer overseeing the auction,
- Limitations on Liability,
- Special Instructions Specific to the Auction,
- Auctioneer and Auction Business License Numbers, and
- Specific Terms that are incorporated into the Contract for Sale & Purchase created by the auction process.
Potential bidders can find the Terms & Conditions posted at any live auction. For auctions that include online bidding, the Terms & Conditions can be found on the online bidding platform. On the Proxibid® platform, the Terms & Conditions can be found under the “Terms of Sale” tab. The “Terms of Sale tab can be found on each auction page under the photo, right next to the “Catalog” tab. The “Terms of Sale” tab can also be found on each lot page under the lot photo, right next to the “Description” tab.
