SIMPSON AUCTIONS

GENERAL AUCTION

TERMS AND CONDITIONS OF SALE

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GUARANTEE:  John Simpson Auctioneer has made every effort to accurately describe and/or catalogue the articles offered for auction.  Catalogue descriptions are guaranteed to be accurate in the matters of authenticity.  This is a limited guarantee against any major restoration or repair not described, against fakes, reproductions or major fabrications.  All lots are sold ‘AS IS’ with respect to condition and neither the Auctioneer nor the consignor makes any warranties or representations, express or implied with respect to such lots.  The Auctioneer reserves the right to make verbal corrections and provide additional information from the block at the time of the auction.  Since opinions can differ particularly in the matters of condition, the Auctioneer will be the sole judge in the matter of any returns or refunds.  For catalogue auctions, any intention of return of items purchased IN PERSON at the auction must be made to the Auctioneer before those items leave the auction site, and will only be considered if there are major discrepancies in authenticity or condition between the purchased item and the catalogue description.  For ABSENTEE purchases any intention of return must be made to the Auctioneer within 10 days after receipt of the purchased item(s), after which all guarantees are null and void.  There are NO guarantees for items purchased at non-catalogue auctions.  Refunds requested under grounds of authenticity must be accompanied by a supporting written statement from an authority recognized by the Auctioneer.  All guarantees on items for which objections have been filed within 10 days after receipt become null and void 35 days after the auction.  The Auctioneer will not be responsible for shipping costs, appraisal fees, testing or any other post auction costs.

REGISTRATION: All bidders must use a valid bid number for purchases, obtained only upon registration with the Auctioneer’s clerk.

WITHDRAWAL:  The Auctioneer reserves the right to withdraw any property from the auction at any time and shall have no liability whatsoever for such withdrawal.

NOMINAL BIDS:  The Auctioneer reserves the right to reject any bid or raise not commensurate with the value of the article being offered.  If there is no apparent interest in an item (normally an appreciable opening bid amounting to 25% - 30% of the low estimate), the item may be PASSED from the block by the Auctioneer, and may not be re-offered until a later auction.

PROTESTED BIDS:  The highest bidder acknowledged by the Auctioneer shall be the purchaser.  In the case of a disputed bid, the Auctioneer is the sole determinant as to who is the successful bidder, and at his discretion may re-offer and resell the article in dispute.  If a dispute arises after the auction, the Auctioneer’s sales record shall be conclusive as to who was the purchaser and the purchase price.

ABSENTEE BIDS:  Absentee and telephone bids are a service provided to our customers free of charge, and are executed competitively with the floor and other absentee bidders.  Every effort is made to execute all absentee bids, however this is not a perfect system.  In the event of an error or omission, or failure to properly execute any absentee bid(s), the Auctioneer shall not be held liable.  Absentee bids will not be executed on items which are found to be other than described in the catalogue.

BIDDING AGENTS:  Bidding agents or those executing a bid for someone else under their number are responsible for settlement of that account.  They are also responsible for examining the article(s) for their client regarding any guarantee.

RESERVES:  All lots put up for auction are subject to a reserve price imposed by the seller.  Usually the reserve price is conservative and below the low estimate in the catalogue.  The Auctioneer shall have the right to bid on any lot on behalf of the consignor or the Auction House.

TITLE:  Title passes upon the fall of the Auctioneer’s hammer.  It is then the responsibility of the buyer to make full payment prior to removing the goods from the premises.  Removal is at the buyer’s risk and expense, and must be made at the conclusion of the auction unless other arrangements have been made with Simpson Auctions staff.  Any lots for which arrangements are made with the Auctioneer for moving or storage are solely at the risk of the owner, and any damage or loss occurring after the fall of the hammer becomes that of the buyer.

TERMS:  All items are to be paid for in Canadian funds on the day of the auction.  No goods may be removed from the auction premises until PAID for IN FULL.  Personal cheques will be acceptable only upon credit approval by the Auctioneer.  The Auctioneer reserves the right to hold merchandise purchased by personal cheque until the cheque has cleared the bank if the Auctioneer deems such action necessary to protect his interest.  Telephone and absentee bidders will be notified immediately after the auction regarding their invoice.  PAYMENT IS DUE UPON RECEIPT.  Interest will be charged on all balances not paid at the rate of 12% APR and assessed on any outstanding balances commencing 30 days after the invoice is sent.  For accounts more than 60 days overdue, the Auctioneer may retain and/or recover the deposit specified as liquidated damages, and in addition, the property can be resold at public or private sale without further notice.  Should the buyer not comply with any of the Terms and Conditions of Sale, the damage recoverable from the buyer shall include any loss arising on the resale of the lot, together with the charges and expenses in respect of both sales as well as any legal or collection fees incurred.

PAYMENT:  Payment for purchases may be made with cash, approved cheque, Visa, Mastercard or debit.  A 10% Buyers Premium shall be added to the final bid price to be paid by the buyer as part of the purchase price, unless otherwise announced by the Auctioneer on the day of the auction.

TAX:  Federal Goods & Service Tax (GST) is 6% payable on all purchases unless shipped out of country.  Province of Ontario Sales Tax is 8% payable on all purchases unless the buyer has a valid sales tax exemption number or the item(s) are shipped out of province.

The above terms and conditions are applicable to most of our General Auctions .  Terms and conditions for Catalogue Auctions may differ in some respects and will be noted in the catalogue text.