Conditions of Business

Conditions of Business: Participation in the viewing or in the sale is tantamount to full acceptance of the following conditions:

In his role as auctioneer of lots, the auctioneer acts solely for and in the interest of the seller. When the auctioneer or his representatives make statements about a lot, they are doing so on behalf of the seller of the lot and any statements are statements of opinion only. Bidders and buyers are strongly advised to seek and obtain independent advice on the lots, on their state and their value before bidding for them.

  1. We reserve the right at our sole discretion to refuse admission to the premises of viewing or of the sale without stating a reason. We have complete discretion as to whether the sale proceeds, whether any lot is included in the sale and the manner in which the sale is conducted.
  2. We have complete discretion to refuse any bid, to nominate any bidding incremenet we consider appropriate, to divide any lot, to combine two or more lots and in the case of dispute, to put up any lot for auction again.
  3. All bidders must, prior to the auction, complete a registration form and show some means of identification (such as an identity card) to the auctioneer or his representatives.
  4. The buyer will be the bidder who makes the highest bid acceptable to the auctioneer for any lot (subject to any applicable reserve being met) to whom the lot is knocked down by the auctioneer at the striking of the auctioneer’s hammer. Any dispute as to the higher acceptable bid will be settled by the auctioneer at his absolute discretion.
  5. Each lot is sold as is, and as viewed by the buyer with all faults and defects, if any. Buyers shall provide their name, address, identity card number and pay a deposit of not less than 10% of the total hammer price at which the lot was purchased. Only bank drafts and cash are acceptable.
  6. No purchase shall be claimed or removed until it has been paid for in full and the sale has been concluded. All purchases shall be removed at the buyer’s risk and expense within two days of the sale, failing which the auctioneer shall not be responsible if the item/s are lost, stolen or damaged. Failure to pay and remove all lots purchased may incur interest, the payment of insurance cover, packaging expenses, transport expenes and storage charges at the auctioneer’s sole discretion.
  7. Buyers shall pay the hammer price together with a premium/commisson of 5% of the hammer price. The premium/commission is subject to VAT at the current applicable rate of 18% and is payable by the buyer. Buyers are also bound to pay stamp duty at the rate of €6.06 on every €232.94 or part thereof.
  8. Only on the payment of the purchase price in full to Obelisk will title of the lot pass to the buyer. However, the risk in the lot is passed to the buyer when it is knocked down to the buyer.
  9. The auctioneer or his representative do not issue any representation or warranty.
  10. No one shall be allowed to enter the premises of the viewing or of the sale with bags or umbrellas.
  11. None of the auctoneer’s agents or representatives have any authority to alter, vary or qualify in any way these conditions of business.
  12. Buyers give the auctioneer all rights to use and publish any photographs and images of lots sold at the auction at any time and at his absolute discretion.
  13. The auctioneer is not responsible to life and limb on the premises during viewing, or during and after the auction.
Copyright © 2017 Obelisk Auctions Ltd. All Rights Reserved. Designed & Developed by Maltaserv
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