Terms & Conditions
PLEASE NOTE: All bidders at Macey & Sons Auctioneers and Valuers Limited
acknowledge that they have read these terms and conditions of sale and agree to be bound thereby. If you do not understand any of these terms or conditions, please ask a staff member for clarification before registering.
A 15% BUYERS PREMIUM WILL BE ADDED ON ALL LOTS PURCHASED
General Conditions
1. Identification - All purchasers are required to have a Bidder’s Number to bid and must supply Macey & Sons Auctioneers and Valuers Limited with their full name, address and telephone number. A form of picture identification is required to verify information.
2. Addition to or withdrawal from sale -The Auctioneer reserves the right to withdraw from sale any of the items listed or to sell at this auction items not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the seller will be served, the auctioneer reserves the right to sell all of the items listed in bulk.
3. The Auctioneer is selling as agent for the seller unless it is specifically stated to the contrary. The Auctioneer as agent for the seller is not responsible for any default by the seller or the buyer. The auctioneer reserves the right to bid on behalf of the seller.
4. It is suggested that the interests of prospective buyers are best protected and served by the buyers attending at an auction. However, the Auctioneer will, if instructed,
execute bids on behalf of a prospective buyer. Neither the Auctioneer nor its employees, servants or agents shall be responsible for any neglect or default in executing bids or failing to execute bids.
5. The auctioneer has the right at his absolute discretion to refuse any bid.
6. The buyer shall be the highest bidder acceptable to the Auctioneer who buys at the Hammer Price. Every bidder shall be deemed to act as principal unless the Auctioneer has, prior to the auction, acknowledged in writing that a bidder is acting as agent on behalf of a
named principal.
7. Dispute between bidders - If any dispute arises between two or more bidders, the auctioneer may decide the same or may immediately put the lot up for sale again, and resell to the highest bidder. The decision of the auctioneer shall be final and absolute.
8. Representations or statements made by the Auctioneer in any Catalogue as to contribution, authorship, genuineness, source, origin, date, age, provenance, condition or estimated selling price or value is a statement of opinion only. Neither the Auctioneer nor its employees, servants or agents shall be responsible for the accuracy of any such opinions. Every person interested in a Lot must exercise and rely on their own judgment and opinion as to such matters.
9. All measurements and sizes - are approximate.
10. Minimum bids - may be placed on some items.
Payment and Collection
11. Manner of payment - All Lots are to be paid in full by cash, approved cheque, Mastercard, Visa, UnionPay, WeChat Pay or Bank Transfer within seven (7) days of the auction. Auctioneer reserves the right to hold merchandise until a buyer’s cheque clears and reserves the right to not accept a cheque. Payment by Visa and Mastercard will be subject to a 2.7% administration charge whilst payments made by UnionPay or Wechat Pay will be subject to a 3.8% administration charge.
12. The ownership of a Lot shall not pass to the buyer until he has paid to the Auctioneer the Total Amount Due.
13. The buyer shall at his own expense collect the Lot purchased not later than seven (7) days after the date of the auction but not before payment to the Auctioneer of the Total Amount Due.
The buyer shall be responsible for any removal, storage and insurance charges in respect of any Lot which is not taken away within seven (7) days after the date of the auction.
The purchased Lot shall be at the buyer’s risk in all respects from the earlier of the time of collection or the expiry of (7) days from the date of the auction. Neither the Auctioneer nor its employees, servants or agents shall thereafter be liable for any loss or damage of any kind, howsoever caused, while a purchased Lot remains in its custody or control after such time.
14. Purchased Lots may be packed and handled by the Auctioneer, its employees or agents. Where this is done it is undertaken solely as a courtesy to buyers and at the discretion of the Auctioneer. Under no circumstances shall the Auctioneer, its employees or agents be liable for damage of any kind and howsoever caused to glass or frames nor shall the Auctioneer be liable for the errors or omissions of, or for any damage caused by, any packers or shippers which the Auctioneer has recommended.
15. No claims will be allowed after goods are removed from premises.
16. If a buyer fails to pay for and/or collect any purchased Lot by the dates herein specified for payment and collection the Auctioneer shall, in its absolute discretion and without prejudice to any other rights or remedies it may have, be entitled to exercise one or more of the following rights or remedies without further notice to
the buyer:
(a) To issue court proceedings for damages for breach of contract;
(b) To rescind the sale of that Lot or any other Lots sold to the buyer whether at that or at any other auction;
(c) To resell the Lot or cause it to be resold whether by public auction or private sale. In the event that there is a deficiency between the Total Amount Due by the buyer and the amount received by the Auctioneer on such resale after deduction of any necessary expenses the difference shall be paid to the Auctioneer by the buyer. Any surplus arising shall belong to the seller;
(d) To store (whether at the Auctioneer’s premises or elsewhere) and insure the purchased Lot at the expense of the buyer;
(e) To charge interest on the Total Amount Due at the rate of 2% over from the date on which payment is due hereunder to the date of actual payment;
(f) To retain that Lot or any other Lot purchased by the buyer whether at the same or any other auction and release same to the buyer only after payment to the Auctioneer of the Total Amount Due;
(g) To apply any sums which the Auctioneer received in respect of Lots being sold by the buyer towards settlement of the Total Amount Due.
17. Personal and property risk - Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the auctioneer from liability therefore. Neither the auctioneer nor his principal shall be liable by reason of any defect in or condition of the premises on which the sale is held.
18. Records - The record of sale kept by the auctioneer and clerk will be taken as final in the event of any dispute.
19. All lots - to be sold AS IS, WHERE IS. ALL SALES FINAL.
20. Additional terms and conditions - Any additional terms or conditions of sale, added by auctioneer, shall be announced prior to auction.
21. These conditions shall be governed and construed in accordance with the laws of Hong Kong.
