Terms & Conditions
Interpretation and general
1.1 “Auctioneer” includes the person authorised to conduct a sale and his, her, its or their employees or agents in any way assisting in the auction or the recording of it.
1.2 “Bidder” means any person (whether present or not) and his, her or its agent or employee placing or making bids or leading the auctioneer to believe that person, agent or employee is making bids.
1.3 “Person” includes any company, firm or body whether incorporated or not.
1.4 “Property” means the goods, chattels, land, estates or interests being auctioned.
1.5 “Purchaser” means the person to whom the property is knocked down by the auctioneer in an at that time uncontested auction.
1.6 “Vendor” means the person placing the property with the auctioneer for sale and includes such a person’s actual or purported agents or employees.
2. Unless arranged otherwise in writing with the vendor and auctioneer, the terms of sale are:
(a) for all property except real estate; and
(b) cash on the fall of the hammer.
3.1 The auctioneer alone may fix the amount of a bid or permit it to be withdrawn. The auctioneer will resolve any dispute about the bidding, whether at or after the auction. The auctioneer may combine or divide lots.
3.2 A bid authorizes the auctioneer to note the auction sheet and, where writing is required, to execute the contract at that bid on behalf of the bidder and authorises the charge of any buyer’s premium referred to in cl 5.1.
3.3 If, but only if the auctioneer has stated whether in relation to the auction generally and/or the particular sale, that the auction is subject to a reserve price and/or that the vendor reserves the right to bid, the vendor may personally or through the auctioneer bid as often as desired.5.5 I7.1 All moneys received by the auctioneer will be held in trust for the credit of the vendor, but the auctioneer may deduct fees.
Purchaser’s rights and obligations
4 Unless specifically stated otherwise in relation to identified property the vendor warrants only:
(a) That the title in the property sold will pass to the purchaser only upon the purchaser completing payment in full by cash or cleared cheque.
(b) That there are or will be no encumbrances on the property not advised in particulars of sale or by the auctioneer before entering upon the auction.
5.1 Where announced or notified before the auction that there is a buyer’s premium and the amount of or the method of calculating it, the purchaser is to pay, upon the fall of the hammer, the amount or rate announced plus GST, if applicable.
5.2 All goods sold shall be removed on the day of the sale or as otherwise provided in the particulars or announced. if not removed the auctioneer may charge a reasonable sum for warehousing them, but will not be liable to the purchaser for them in any respect.
5.3 If the purchaser fails to pay the purchase price or collect the goods as required, the auctioneer may elect to resell the property in any manner without notice to the purchaser who will be liable for any deficiency in price (after allowing all commissions or expenses of resale whether of the auctioneer, vendor or others), the buyer’s premium and liquidated damages of one and a half times the standard overdraft interest rate being charged by the auctioneer’s bank at the time of sale (as conclusively certified by the apparent manager of the bank) or may sue for the price, liquidated damages as calculated above and solicitor and client costs for pursuing the purchaser, whether or not cancelling the contract.
5.4 In the event of there being any surplus following resale it will belong to the vendor. The purchaser may not recover more than actually paid by the purchaser.
5.5 If provenance of property is warranted, a purchaser may within 14 days of the auction prove to the satisfaction of the auctioneer that the property is a forgery, whereupon the vendor will repay the purchase price or deposit, as the case may be, in full, subject to the return of the property in good condition.
Auctioneer’s obligations and liability
6.1 The auctioneer will not be liable to the bidder or purchaser for:
(a) any statement or warranty made unless specifically including a personal warranty by the auctioneer;
(b) any warranty of title or freedom from encumbrances;
(c) any misdescription or errors in condition, state, size, quality or quantity or for any other error whatsoever;
(d) any vendor bidding without the auctioneer’s knowledge; or
(e) any failure to bid for a bidder.
6.2 The auctioneer will not be liable to the vendor:
(a) directly or by indemnity for any of the matters referred to in cl 6.1, except where the breach, or other wrong, was deliberate and without authority from or assistance by the vendor; or
(b) for any failure to collect the price or deposit as the case may be.
6.3 The auctioneer will not guarantee the safety of any goods or documents of provenance, but undertakes to the vendor alone that the auctioneer’s premises are reasonably secure (but not measured in relation to the property held) and to hold bailee’s insurance.
7.1 All moneys received by the auctioneer will be held in trust for the credit of the vendor, but the auctioneer may deduct fees (whether the liability of the vendor or purchaser), expenses and any moneys necessary to perfect title to the purchaser or to ensure compliance by the vendor of any other warranty or undertaking to the purchaser.
7.2 These conditions, when exhibited in the auction rooms or any place where an auction is being conducted, shall be binding upon the vendor and purchaser, upon the auctioneer announcing that the sale is conducted subject to these conditions so exhibited notwithstanding that the auctioneer may not have read them aloud and any such announcement may be made by the auctioneer at any time during any sale.
7.3 The auctioneer warrants to all persons that the auctioneer is a current financial member of the Auctioneers Association of New Zealand and is the holder of a current Registration Certificate pursuant to the Auctioneers Act 2013.
Vendor’s warranties and obligations
8.1 The vendor warrants to the auctioneer and the purchaser that and only that:
(a) the vendor has power to pass title to a purchaser upon the fall of the hammer or at the proposed time of settlement, as the case may be, free of encumbrances except as stated in any particulars;
(b) the property is believed to comprise the quality and to be of or in the quality, description, order, standard or condition stated; and
(c) the vendor has no reason to believe that there is any possible claim not stated in any particulars relating to the property, any liability arising from its normal use or resale or any defect of which notice has not been given which would prevent the normal use of the property.
8.2 Where not inconsistent with any specific written instruction, contract or agreement, the vendor agrees to pay the auctioneer commission at the rates normally charged by the auctioneer at the time of sale and GST, all agreed/reasonable catalogue, advertising and other expenses.
8.3 Where the vendor fixes what the auctioneer regards as an unrealistic reserve, the vendor will withdraw property from sale if the auctioneer requires it. The auctioneer will be paid a reasonable sum in recompense for work done and expense incurred to that point. This will also apply where the vendor withdraws the property from the sale.
9.1 The vendor is not entitled to payment by the auction until fourteen days after clearance of funds, title and provenance.
9.2 The vendor acknowledges the auctioneer may bid on behalf of bidders and may charge a purchaser a buyer’s premium.
Member’s name: Canterbury Auctions Limited
Terms and Conditions of Authority to Auction
The Auctioneer accepts the Owner’s authority to auction Goods on the following Terms and Conditions:
The authority is an irrevocable authority in favour of the Auctioneer for sale of the Goods by auction at such time or times and place or places as the Auctioneer shall determine within 2 calendar months (or such other period as may be specified on the front page of this Authority) commencing from the date of signature of this Authority which is the date appearing on the front page.
If the Goods or any of them are passed in at any auction held within this period or if a purchaser at auction shall default in making payment for the Goods the Owner irrevocably appoints the Auctioneer for one month from the date of the auction to act as the Owner’s agent to effect a sale of the unsold Goods to any third party either by auction private treaty sale tender or any other mode of sale provided that if the Owner has stated a reserve price for the Goods on the front page of this Authority then the Goods may not be sold by the Auctioneer at a price less than that reserve price unless authorised by the Owner or the Owner’s agent.
The Auctioneer reserves the right to divide and sell the Goods in separate or mixed lots and to advertise, represent or catalogue the Goods by the Auctioneer’s own description.
The Owner warrants to the Auctioneer that the Goods are the unencumbered property of the Owner and that the Owner is legally authorised by law to both possess the Goods and offer them for auction. Any person signing this Authority as agent for the Owner warrants to the Auctioneer his or her authority to bind the Owners to these Terms and Conditions.
Unless otherwise advised by the `Auctioneer’ all Goods shall be sold at a price which is inclusive of GST (if any). Where the Owner is liable for GST on the supply constituted by the sale within the terms of the Goods and Services Tax Act 1985 the Owner will on request of the Auctioneers supply the Owners GST registration number to enable the Auctioneer to issue a GST invoice on behalf of the Owner. It shall be the responsibility of the Owner to account to the Inland Revenue Department for any GST payable in respect of the sale.
The Owner irrevocably authorises the Auctioneer to execute on the Owner’s behalf any agreement for sale, transfer of title documentation or receipt for payment of the purchase price with respect to the sale of the Goods.
The Auctioneer reserves the right to bid for the Goods on behalf of any purchaser at any auction and to receive commission payments or other consideration from any purchaser with respect to sale of the Goods.
The Auctioneer shall be entitled to retain as additional remuneration any customary trade discounts allowed to the Auctioneer with respect to the advertising, bailment or sale of Goods.
The Owner hereby indemnifies the Auctioneer (including its agents, servants and appointees) for any liability incurred whatsoever for any action, omission or misdescription by the Auctioneer with regard to any matters undertaken in good faith by the Auctioneer pursuant to this Authority. Without limiting the foregoing it is expressly agreed that the Owner will indemnify the Auctioneer and its agents, servants and appointees against any liability incurred as a result of the Auctioneer’s sale of the goods as agent for the Owner or as a result of the Auctioneer’s reliance upon any information supplied by the Owner or any agent of the Owner.
(a) The reserve price set for the Goods or where no reserve is imposed the fair market value of the Goods as determined by the Auctioneer; or
(b) Any excess payable under any existing policy or policies of the Owner covering the Goods and under which the Owner has made a claim; or
(c) Any deficiency between the reserve price (or fair market value) as defined by paragraph (a) and the payment made by the Owner’s insurance company (if any).
As between the Owner and the Auctioneer risk and property in the Goods remain at all times with the Owner until payment in full of any purchase price for sale of the Goods.
The Owner authorises the Auctioneer to sell the Goods under the current Conditions of Sale of the Auctioneers Association of NZ Inc or any other conditions of sale commonly used by the Auctioneer. A copy of such conditions is available for inspection by the Owner at the Auctioneer’s office and the Owner shall be deemed to have read and understood them. Where they conflict with this contract the contract will prevail.
The Auctioneer reserves the right to have any remedial work done to the Goods if in the Auctioneer’s opinion such work is required to make the Goods more saleable. The cost of such work shall be reimbursed by and recoverable from the Owner within the terms of this Authority.
Sale of Firearms, Motor Vehicles, Machinery etc.
The Owner warrants to the Auctioneer that the Owner is in possession of current and valid ownership papers, licenses, permits, manuals, records and authorities as are required by law or custom with regard to the Ownership or possession of the Goods and further the Owner will promptly supply to the Auctioneer such documentation as the Auctioneer requires in selling or marketing the Goods for sale. Any transfer fee or other charge made by a governmental or local authority in connection with the sale or transfer of such Goods shall be paid by or chargeable to the Owner and if paid by the Auctioneer on the Owner’s behalf shall be reimbursed by the Owner.