Conditions of Business
The Auction is governed by 33 Auction's Conditions
of Business. Prospective buyers are advised
to review these carefully.
Buying at Auction
The following pages are designed to give you useful information on how to buy at
33 Auction Pte Ltd (here-in referred to as
33 Auction).
Buyer’s Premium
A Buyer's Premium will be added to the hammer price and is payable by the buyer as part of the total purchase price. The buyer's premium is 15% of the hammer price up to and including S$ 250,000 and 12% of any amount in excess of S$ 250,000.
GST
33 Auction acts as agent on behalf of the seller and should the seller be registered as a GST vendor and has informed 33 Auction that his lots must be charged with GST, then such lots will be indicated in the catalogue with the sign † ,and 7 % GST at will be charged on the hammer price and will be payable by the buyer.
Pre-sale Estimates
The pre-sale estimates are intended as a guide for prospective buyers. Any bid between the high and low pre-sale estimates would, in our opinion, offer a chance of success. However, all lots, depending on the degree of competition, can realise prices either above or below the pre-sale estimates. The estimates printed in the catalogue do not include
the buyer’s premium.
Reserves
The Reserve is the minimum price the seller is willing to accept, below which the lot will not be sold.
Condition of Lots
Prospective buyers are encouraged to inspect the property at the pre-sale exhibition. Solely as a convenience, 33 Auction may provide condition reports. The absence of reference to the condition of a lot in the catalogue description does not imply that the lot is free from faults or imperfections.
Bidding at Auction
Bids may be executed in person by paddle during the auction, in writing prior to the sale or by telephone. The auction will be conducted in Singapore Dollars. Auction speeds vary, but usually average between 40 - 80 lots per hour.
Bidding Increments
Bidding generally opens below the low estimate and advances in the following increments:
| S$ 500 - 1,000,- |
by |
S$ 50,- |
| S$ 1,000 - 2,000,- |
by |
S$ 100,- |
| S$ 2,000 - 3,000,- |
by |
S$ 200,- |
| S$ 3,000 - 5,000,- |
by |
S$ 200,- |
| or S$ 200 -> 500 -> 800,- |
| S$ 5,000 - 10,000,- |
by |
S$ 500,- |
| S$ 10,000 - 20,000,- |
by |
S$ 1,000,- |
| S$ 20,000 - 30,000,- |
by |
S$ 2,000,- |
| S$ 30,000 - 50,000,- |
by |
S$ 2,000,- |
| or S$ 2,000 -> 5,000 -> 8,000,- |
| S$ 50,000 - 100,000,- |
by |
S$ 5,000,- |
| S$ 100,000 - 200,000,- |
by |
S$ 10,000,- |
| S$ 200,000,- and above |
by |
auctioneer's discretion |
| |
|
|
However, the auctioneer may change the
increments during the course of the auction at his or her discretion. Bidding may also be reopened at the auctioneers discretion.
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Bidding in Person
To bid in person at the auction, you will need to register for and collect a numbered paddle before the auction begins. Proof of identity will be required.
The paddle is used to indicate your bids to the auctioneer during the sale. Should you be the successful buyer of any lot, please ensure that your paddle can be seen by the auctioneer and that it is your number that is called out. Should there be any doubts as to price or buyer, please draw the auctioneer’s attention to it immediately. All lots sold will be invoiced to the name and address in which the paddle has been registered and cannot be transferred to other names and addresses.
Please do not mislay your paddle; in the event of loss please inform the Sales Clerk immediately.
Absentee / Written Bids
If you cannot attend the auction, we will be happy to execute written bids on your behalf. This service is free and confidential. Lots will always be bought as cheaply as is consistent with other bids, the reserves and 33 Auction’s commission. In the event of identical bids, the earliest bid received will take precedence. Always indicate a “top limit”- the hammer price to which you would bid if you were attending the auction yourself. “Buy” and unlimited bids will not be accepted.
Telephoned absentee bids must be confirmed before the sale by letter or fax. Fax number for bids only: +65 64762218. To ensure satisfactory service to bidders, please ensure that we receive your bids at least 24 hours before the sale.
Bidding by Telephone
If you cannot attend the auction, it is possible to bid on the telephone on lots with a minimum low estimate of S$ 4,000. As the number of telephone lines is limited, it is necessary to make arrangements for this service 24 hours before the sale.
We also suggest that you leave a maximum bid which we can execute on your behalf in the event we are unable to reach you by telephone. Multilingual staff are available to execute bids for you.
Currency Conversion
The auction will be conducted in Singapore Dollars. 33 Auction may
provide a currency conversion board in
the saleroom for the convenience of bidders. Please note the amounts shown
in foreign currencies are approximate figures and are for guidance purposes only.
Successful Bids
The fall of the auctioneer’s hammer indicates the final bid. The auctioneer will call out and record the name or “paddle” number of the buyer, if your written bid is successful,you will be notified immediately after the sale by post.
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| Payment
Payment must be made within seven calendar days of the sale and may be made by telegraphic transfer direct to 33 Auction Pte Ltd’s account at United Overseas Bank, Orchard Branch, Singapore 238854. Acct. # 380-306-729-3. Please include your name, 33 Auction’s account number and invoice number with your instructions to your bank.
Payment can also be made by Singapore Dollars banker’s drafts (drawn on a recognized Singapore bank). Although personal and company cheques are accepted, you are advised that property will not be released until such cheques have cleared.
Collection
Lots will be released to you or your authorized representative when full and cleared payment has been received by 33 Auction.
After seven days or from the time of collection, whichever is the earlier, the Lot will be entirely at the Buyer’s risk.
Storage and Insurance
All purchases will initially be held for collection at 33 Auction’s premises at no charge. 33 Auction provides insurance coverage for a maximum of seven days after the sale. Warehouse storage charges will be incurred if purchases are not collected within seven days after the date of the sale
Packing and Handling
We shall use all reasonable effort to take care when handling and packing a purchased lot but the Buyer is reminded that after seven days or from the time of collection, the lot is entirely at the Buyer’s risk.
Shipping
Shipping can only be arranged by 33 Auction’s nominated shipping agent. Please complete and sign the shipping form sent with your invoice if this service
is required.
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