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Terms and Conditions

Terms and Conditions

Please read completely the text below, which is Bidvaluable’s user site agreement, carefully before proceeding with your account registration. Those are the terms and conditions for access to bid, purchase and sell on Bidvaluable.


This website is owned and operated by Bidvaluable Auction Pty Ltd (ABN 25 649 732 954).


You are deemed to have accepted and will be bound by those Terms and Conditions by completing and submitting your registration details (and for all bidding conducted by you under those details). Bidvaluable reserves the right to change the Terms and Conditions from time to time. Therefore, we recommend you review the Terms and Conditions on Bidvaluable website periodically to check for any changes. Your account may be suspended or terminated if you are found or suspected to have engaged in fraudulent activity in connection with Bidvaluable website. ALL TRANSACTIONS ARE PROCESSED IN AUSTRALIAN DOLLARS. 

 

1. Auctioneer acts as Agent for Vendor

Bidvaluable acts as agent for the Vendor and is not responsible for any default by the Vendor or the Buyer.

2. Eligibility to Participates

Intending to use the service, you must have the legal capacity to enter contractual arrangements, which means you are unable to use the Bidvaluable service if you are under 18 years old, or otherwise legally prohibited from entering into binding contracts.

3. Registration

    3.1 You must register your details with Bidvaluable to use this service by setting up your Account. It is free for registration. The registration does not oblige you to buy anything.

    3.2 You must not register with a username that is offensive, inappropriate, deceptive or confusing. Bidvaluable reserves the right to request that your username be altered, to restrict you from bidding based on your username or to take any other reasonable action in relation to your username.

   3.3 You must provide a correct name and accurate contact details to Bidvaluable when registering an account. As a bidder, providing false or misleading information to Bidvaluable will not absolve you of any of your obligations.

    3.4 You must provide us with an active and valid mobile phone number.

   3.5 As a bidder, you must complete and sign a Buyers Registration Form prior to entry to the auction premises. Proof of identity may be required by Bidvaluable.

4. How to Bid

   4.1 Before bidding, any potential new bidder must complete and sign a Buyers Registration Form. The bank, trade or other financial references for substantiating the registration may be requested.

    4.2 When making a bid, a bidder is accepting personal liability to pay the purchase price. The price contains but not limited, the buyer premium, all applicable taxes, and all other applicable charges. Unless the bidder is acting as agent on behalf of an identified third party and the agreed written note has been accepted by Bidvaluable before the commencement of the sale. And Bidvaluable agree to only look to the principal for payment.

   4.3 For all international clients, who do not be known to Bidvaluable will be requested to scan or fax the photo ID through an accredited form and a deposit should be paid at our discretion in cleared funds into Bidvaluable’s account at least 48 hours before the commencement of the auction. Bids will not be accepted with failure of deposit. A credit card can be accepted for the deposit. However, for any purchase excess of $5,000 AUD cannot be charged to that credit card without prior arrangement. For all transactions over $5,000AUD, transferring to Bidvaluable’s bank account is recommended. The deposit is redeemable against any auction purchase. Bidavaluable reserves the right to request any additional forms of identification prior to registering an overseas bid.

    4.4 For absentee bids, Bidvaluable will execute written bids delivered to us at least 24 hours before the sale for the convenience of those bidders who cannot attend the auction in person. If the identical written bids are the highest bids on a particular lot at the auction, the lot will be sold to that person. It is a free service for execution of written bids to Bidvaluable’s clients. We do not accept liability if it was failed to execute a written bid or for omissions or errors which may arise. It is the buyer’s responsibility to check with Bidvaluable after the auction if it was successful. Unlimited or ‘Buy’ bids will not be accepted. The Bidder can leave an absentee bid online using the online form. Alternatively, the bidder can download a from and hand it to the office, or email it to Bidvaluable so that we receive it at least 24 hours before the auction’s date. If the bidding is successful, the Buyer will automatically receive a notification email and invoice from the Bidvaluable. If not, the Buyer must contact the Bidvalyable.

   4.5 For telephone bids, overseas and interstate bidders will have the priority. Arrangements for this service must be confirmed at least 24 hours prior to the commencement of the auction. A telephone bidding form is requested to submit through fax or email with a valid signature at least 24 hours prior to the commencement of the auction. All telephone bids must be confirmed in writing by the Bidder. Bidvaluable has no responsibility for any errors or failure to execute bids. In telephone bidding, the buyer must agree to be bound by all terms and conditions listed here and accept that Bidvaluable has no responsibility for any miscommunications in the process. Buyers should be aware that the risk and accept the consequences may be unsuccessful at the time of auction. Thus, due to the unforeseen circumstances, the success of telephone bidding cannot be guaranteed. You must advise Bidvaluable of the lots in question and a ‘Cover Bid’ amount would be recommended, in case there are any issues with communication or technology via the telephone number provided by the bidder. For the Telephone Bidders who have registered at least 24 hours before the auction, Bidvaluable will advise any relevant changes to descriptions, withdrawals or any other sale room notices. Note, telephone bids are only valid for the Lot which is over $100AUD.

    4.6 For online bidding, it is online bidders’ responsibility to make sure the accuracy of the bidding information relating to bids, lot numbers and contact details. Bidvaluable accepts no responsibility for any errors, failure to execute bids or any other miscommunications regarding the process.

    4.7 For reserves, the reserve is the lowest selling price of lot raised by the seller and confirmed with Bidvaluable in the consignment auction contract. Unless otherwise indicated or explained by Bidvaluable, all lots will not be sold if the confidential minimum price is below the reserve. The auctioneer may place a bid on behalf of the Vendor. The bidding may below the reserve on any lot. By placing consecutive bids or by placing bids in response to other bidders, the auctioneer may continue to bid up to the amount of the reserve on behalf of the Vendor. To place a reserve on any lot and to advance the bidding according to a table below,



Incremental   Amount    



Dollar   Range (AUD)


$2



$0-$50


$10



$50-$200


$20



$200-$500


$50



$500-$1000


$100



$1,000-2,000


$200



$2,000-5,000


$500



$5,000-10,000


$1,000



$10,000-20,000


$2,000



$20,000-50,000


$5,000



$50,000-100,000


$10,000



$100,000-200,000


$20,000



$200,000-500,000


$50,000



$500,000-1,000,000






For all absentee bids, they must follow the increments above and any bids which fail to follow the steps will be rounded up to the nearest acceptable bid.

   4.8 For auctioneers’ discretion, the auctioneer has the right to refuse any bid, to withdraw or divided any lot, to advance the bidding as he may decide, to combine any two or more lots, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer or resell the lot in dispute, at the auctioneer’s absolute and sole discretion. If any dispute arises after the bidding or the sale, the sale record from Bidvaluable is conclusive.

    4.9 For successful bid, regarding to the auctioneer’s discretion, the auctioneer accept that the highest bidder will be the buyer. The hammer price marks the acceptance of the highest bid and the conclusion of a contract for sale between the buyer and the seller.

    4.10 For passing of risk, the striking of the auctioneer’s hammer means that the risk and responsibility for the lot passes immediately to the buyer from the seller.

   4.11 Every buyer shall be regarded to bid as principal unless they disclose to Bidvaluable that they will be bidding on behalf of a principal prior to the auction. And they shall supply details of the principal, including the full name, address and a copy of a written authority to bid for and on behalf of the principal, etc.

5. Obligations as A Bidder

Subject to any reserve price, the Buyer shall be the highest bidder. The Auctioneer, who may at any time at the absolute discretion and regardless of the fall of the hammer shall settle either re-open the bidding or withdraw the Lot from sale. The Auctioneer shall make the final decision. You are making an offer to purchase the item at your bid price once you use the service and bid on an object during an auction conducted on Bidvaluable Site. You will be the Winning Bidder if your bid price is the highest amount. Then you are obliged to buy the item you have bid for and make the payment of the Winner’s Bid Amount, and any additional charges which you may need to pay. Attention, you are entering into a legally enforceable contractual agreement once you start making a bid. Do not bid on a lot unless you are willing and able to pay for it. Refer to below,

    5.1 If you are the Winning Bidder, you will pay for and collect your lots within certain days;

   5.2 If you fail to do so, you will be liable for the reasonable costs in either, and at our discretion, either enforcing a specific performance of the contract, or making good with the Seller of the lot/lots, refer to below,

        5.2.1 A specific performance of the contract will be conducted, then the applicable application fee to lodge a civil dispute hearing with the NCAT (NSW Civil Administrative Tribunal) and any other services fees that follow the process;

       5.2.2 If Bidvaluable proceeds to make good with the Seller/Sellers in a time manner, the administrative fee, which equal to the buyer’s premium on each lot you have defaulted on, adding with the shortfall, if any, being the discrepancy between the price obtained if the item is resold which is below the previous winning bid amount you made. The difference amount will be debited to your account. You will be liable for the NCAT application fee and any other service fees if we had to take legal action to recover these amounts from you.

    5.3 It is your duty to read the product information and sale overview about any lot we post on the Site before you participate the auction.

   5.4 You must not depend purely on the title summary or any pictures of the lot posted on the Site for a complete description of an item. The description and pictures of the lot are to serve as a guidance and must not be used to form a final opinion of the item. Bidvaluable makes all the best efforts to accurate all items’ description on the Site. However, Bidvaluable has no responsibility for any omissions or discrepancies which may exist in descriptions. Thus, it is your responsibility as a bidder to form your own opinion on the bidding.

    5.5 All the delivery, shipment and payment terms shall be comprehended. It includes but not limited to any addendum to those terms and conditions in the lot’s description or the Sale Overview. Additionally, a Buyer’s Premium and other charges, a delivery fee for instance, will apply to the most auctions.

    5.6 The bid manipulation is prohibited, which means you must not bid in a way to pull other bidders to their maximum bid, not retract the high bid then re-bidding at a small increment, or not employ Shill Bidding.  Buyers are not allowed to communicate with each other for the purpose of manipulating the final purchase price of an item.

6. Rights of Auctioneer and Vendor

The Seller and the Auctioneer reserve the rights which may be executed by the Auctioneer without giving any reason below,

    6.1 to offer for sale part only of any items described in the Catalogue;

    6.2 not to offer for sale any item described in the Catalogue;

    6.3 to keep secret the amount of the reserve price, if any, of an item;

    6.4 to keep secret the existence of the item;

    6.5 to offer for more of the items described in the Catalogue together as one or separate items;

   6.6 should such lots referred to in 6.5 of this Condition not be knocked down under the hammer to a successful bidder, to offer them as separate items;

    6.7 to bid on behalf of any potential Buyer with or without disclosure;

    6.8 in the situation that any item is not sold at the auction to offer to sell the same then by private treaty otherwise subject to these conditions;

    6.9 in the situation that any Buyer shall successfully bid for more than one item at the auction,

        6.9.1 The Auctioneer shall see fit if the Buyer pay any moneys in satisfaction or partial satisfaction of the Purchase Price to Bidvaluable;

       6.9.2 to treat each Contract/Contracts for the sale interdependently with each other such Contract/Contracts default under any Contract shall be treated as default under all such Contracts;

Bidvaluable has no responsibility for any failure to execute bids, errors or any other miscommunications regarding the process. The Bidder has the responsibility to make sure the accurate relevant information regarding lot numbers, bids and contact numbers, etc.

7. Deposits

    7.1 Regarding Bidvaluable’s discretion, a deposit is required to be placed by a Buyer in order to bid smoothly. Unless otherwise indicated, deposits are fully refundable to the buyer, after deducting any fees that the Buyer is obliged to pay Bidvaluable, the fees including but not limited to storage and other fees outlined in the Terms and Conditions. Deposits and credits to the Buyer’s account is for bidding or promotional purposes or refunds.

    7.2 For all new Buyers, a deposit of $500 shall be required if the first Lot the Buyer auctioned is over $5,000AUD, otherwise there is no deposit needed.

    7.3 For all international clients, a deposit should be paid at Bidvaluable’s discretion in cleared funds into Bidvaluable’s account at least 48 hours before the commencement of the auction. Bids will not be accepted with failure of deposit. A credit card can be accepted for the deposit. However, for any purchase excess of $5,000 AUD cannot be charged to that credit card without prior arrangement. The deposit is redeemable against any auction purchase.

8. Payment and Collection by Buyer

The Buyer must pay the full amount within three days after the auction date, and the full amount comprising but not limited to the hammer price, 22% of Buyer’s premium (Buyer’s premium is reduced to 16% for vehicle auctions), GST and any applicable taxes. The title for the Lot will not pass to the Buyer until Bidvaluable receives the full payments in the cleared fund. Additionally, the Lot under any circumstance will not be released without confirmation of the cleared fund received. This condition applies if the Buyer wants to send Lot/Lots overseas or interstate.

The Buyer is responsible for any charges, bank fees applicable for the transfer of funds into Bidvaluable’s account. Bidvaluable accepts different types of transactions, including,

·        EFTPOS

·        Credit cards- Visa, Mastercard and American Express

·        Cheques are not accepted without prior approval either from personal, company or bank cheques

Note that for all transactions over $5,000 AUD will not be accepted over the telephone unless agreed previously. For cash over $10,000AUD should be deposited directly into Bidvaluable account.

If the Buyer fails to complete the purchase of a Lot while the Buyer is the Winning Purchaser, or does not comply with the terms and conditions of the Users Agreement, Bidvaluable is entitled to execute one or more of the rights listed below,

        8.1.1 take legal action to recover all money owing to Bidvaluable, including but not limited to any Buyers Premium and lost income;

        8.1.2 a dishonour fee of 3% of the invoiced amount will be charged to cover the cost of resale of the items, other costs occurred including but not limited to lost commission and administration costs, the Buyer’s Premium, if any, restocking costs, advertising fee, insurance fee, transportation fee, storage and any other reasonable expenses incurred in reinstating Bidvaluabe to the same position as if the item was sold to the Buyer.

       8.1.3 The net shortfall, which is between the Invoice Amount and the resale price received, after resale the Lot by Bidvaluable will be deducted from the Buyer failing to complete the payment

        8.1.4 In order to take the above steps, the Buyer shall authorise Bidvaluable to charge Buyer’s credit card for any amount owing to Bidvaluable.

Despite the Buyer is a Winning Purchaser, Bidvaluable may choose to withdraw and not proceed with completion of the sale the Lot if,

        8.2.1 the credit card payment is failed to process in the first run, it could be card entry errors for some reason;

        8.2.2 The invoice amount cannot be covered properly due to insufficient funds or the credit limitation;

       8.2.3 The Buyer does not pay the invoiced amount into Bidvaluable’s bank account within 3 business days of the Winning purchaser placing the Winner Purchase Amount;

        8.2.4 Bidvaluable is unable to contact the Buyer for any reason.

For foreign buyers, they should note that all transactions are in Australian Dollars (AU$). Thus, a small exchange rate risk may occur.

If you cannot comply with any of those terms& conditions mentioned above, the money you paid to Bidvaluable on deposit of any purchases of a Lot may be forfeited to Bidvaluable.  Bidvaluable may take legal action to recover the balance of the invoiced amount and any other amounts owing to Bidvaluable under those terms & conditions. Exercising Bidvaluable’s power of forfeiture will not act unreasonably.

If the Buyer who lives in another State or Territory or internationally is unable to collect the item/items in person, the delivery must be arranged.

If the Buyer is able to collect the Lot/Lots from Bidvaluable warehouse, the Lot/lots must be collected within 3 days after making the Winning Bid.

9. Packing, Handling and Shipping

Bidvaluable may assist with packing of items, consigned by the Purchaser, without taking any responsibility for damage, breakage or loss which may occur. Bidvaluable can arrange for a carrier, packer or courier to have the Lot packed and shipped at the purchaser’s expense. All related charges will be borne by the Buyer, including but not limited to packing fee, shipping fee, insurance fee, postage charges. Bidvaluable will assist with Courier company that the Buyer have consigned to. Bidvaluable has no responsibility for the actions of any recommended third party. For small parcel, normally take 5-10 business days within Australia. Postage will add to customer’s purchase. For large items, customers can find their own trusted shipping company, or we can recommend removal company. Customers will pay all related costs. For international customers, the Buyer needs to contact Bidvaluable by email for asking details.

10. GST

GST is goods and services tax, which is a tax of 10% on most items, goods, services consumed or sold in Australia.

    10.1 Bidvaluable will sell the Lot on a GST exclusive base. The hammer price excludes any GST payable. Bidvaluable will invoice the Buyer for the hammer price, Buyer premium and GST applied. Bidvaluable will take account into the GST payable for the Seller on the hammer price recovered from the Buyer. The Seller has the responsibility to pay the GST to the ATO (the Australian Tax Office).

   10.2 The Buyer must assess carefully if the tax credits input for any GST paid in addition to the hammer price will be available. To contact the Buyer’s accountant or lawyer for more inquiries is recommended.

    10.3 The sale catalogue will be marked with a question mark ‘?’ against each item declared to be subject to GST on sale. The Buyer is responsible to pay any GST occurred on the hammer price for the Lot marked with ‘?’ as a ‘Taxable Supply’.

    10.4 A valid tax invoice will be provided to the Buyer if GST is assessable on the sale.

   10.5 Any overseas Purchaser who is eligible for exemption from GST, must provide a satisfactory proof to Bidvaluable that the Lot has left or will leave Australia as an export within 60 days of its purchase.

    10.6 GST will be charged to the Buyer on the Buyer’s premium. No exemption of GST applies to the Buyer’s premium.

11. Returns

Please choose and bid items carefully. We do not normally give refunds. 

12. Catalogue Description

All statements published by Bidvaluable in the catalogue entry for the Lot or in any forms of report, or made orally or in writing, are statements of opinion, and are not to be relied upon as statements of fact. The statements do not cover a representation, warranty or assumption of liability by Bidvaluable of any kind. The bidder or a knowledgeable representative should be able to inspect the Lot’s damage or restoration, as the references in the catalogue entry to the condition report are only for guidance. The references’ absence does not indicate the item is free from discrepancy or restoration, nor does a reference to defects imply the absence of any others. The stated selling price on the report is the price at which the item will sell or its value fits for any other purpose. Bidvaluable or the vendor has no responsibility for any discrepancy, errors or omissions in the catalogue or any supplemental material. Illustrations are provided only for a guidance. The Buyer/Bidder should not rely upon as a true representation of condition or colour. Images, which are measured height by width, do not represent at a standard scale. In order to acquire a good certificate, a cost will be carried by the Buyer. The vendor will pay any reasonable costs, if the Lot turns out to be forged or incorrectly described otherwise. All Lots are sold as they are referred in the catalogue without representation or warranty of any kind by Bidvaluable or the Vendor. Purchasers are responsible for satisfying themselves concerning the condition of the items by requesting a condition report.