Terms & Conditions
REMEDIES FOR NON-PAYMENT
If any Lot is no paid in full within the stipulated period given, the Auctioneer shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise all or any of the following rights and remedies to the defaulting Buyer:
- All lots sold through floor bidding or online bidding will be subject to a buyer’s premium of 20% of the hammer price
- To proceed legal action against the Buyer for damages for breach of Conditions in which event the legal costs shall be borne by the Buyer absolutely;
- To rescind or retain the sale of that or any other Lots sold to the defaulting Buyer at the same auction until the Payment of the total Purchase Price is fully paid;
- The deposit paid for the current auction shall be forfeited absolutely and to reject or ignore any bids and registrations made by the same defaulting Buyer in any future auction or obtain more deposit before accepting a bid in future.