GUIDE FOR PROSPECTIVE BUYERS FOR INDONESIA AUCTION

Follow this link for GUIDE FOR PROSPECTIVE BUYERS FOR SINGAPORE AUCTION

 

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 PT BALAI LELANG LINDA (here-in referred to as 33 Auction).Prospective bidders should also consult www.33auction.com for the most up to date cataloguing of the property in the sale.

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 20% of the hammer price up to and including IDR 1,000,000,000 and 15% of any amount in excess of IDR 1,000,000,000 on each lot.

 

VAT / PPN
Value Added Tax (VAT / PPN) is due on the buyer's premium portion of the invoice price at a rate of 10% 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.The reserve, if any, will not exceed the low estimate published in the catalogue.

 

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 Indonesian Rupiah. 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:

Rp. 5,000,000 - 10,000,000,- by Rp. 500,000,-
Rp. 10,000,000 - 20,000,000,- by Rp. 1,000,000,-
Rp. 20,000,000 - 50,000,000,- by Rp. 2,000,000,-
Rp. 50,000,000 - 100,000,000,- by Rp. 5,000,000,-
Rp. 100,000,000 - 200,000,000,- by Rp. 10,000,000,-
Rp. 200,000,000 - 500,000,000,- by Rp. 20,000,000,-
Rp. 500,000,000 - 1,000,000,000,- by Rp. 50,000,000,-
Rp. 1,000,000,000 - 2,000,000,000,- by Rp. 100,000,000,-
Rp. 2,000,000,000,- 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.


Telephone absentee bids must be confirmed before the sale by letter or fax (+62 21) 7203505 or email bid@33auction. 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 Rp 20,000,000. 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.

 

Online Bidding
For your convenience, you may use 33 Auction mobile apps and bidding site to leave your bid before the sale or bid live during the sale. The service is free of charge and is undertaken at bidder’s risk. Please register at least 4 hours before the auction start to ensure your registration is approved in time.

 

Bidding on partner’s online bidding platform may incur a service fee: Invaluable: 5% of hammer price.


Currency Conversion
The auction will be conducted in Indonesian Rupiah. 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 “paddle” number of the buyer, if your written bid is successful,you will be notified immediately after the sale by email.

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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 PT BALAI LELANG LINDA account at Bank Central Asia (SWIFT CODE : CENAIDJA) A/C Number : 218-302-173-7. Bank Address : KCU Blok A Cipete, Jl R S Fatmawati No. 6 A, Jakarta 12150 Indonesia. Please include your name, 33 Auction’s account number and invoice number with your instructions to your bank.


Although payment can also be made by Indonesian Rupiah Cheque and Bilyet Giros (drawn on a recognized Indonesian bank), you are advised that property will not be released until such cheques have cleared.


We regret we do not accept payment by credit card.

 

Collection
Lots will be released to you or your authorized representative when full and cleared payment has been received by 33 Auction. After thirty 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 thirty days after the sale. Storage charges will be incurred one month after the date of the auction at the rate of 0.50% of the value of the lot or minimum Rp. 500,000 per lot per month.

 

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 thirty days or from the time of collection, the lot  is entirely at the Buyer’s risk.

 

Shipping
33 Auction’s Shipping Department can advise buyers on exporting and shipping property. Please complete and sign the shipping instruction form sent with your invoice if this service is required. Purchases will be despatched as soon as possible upon clearance from the Accounts Department and receipt of your written despatch instructions and of any export licence or certificates that may be required. Shipping will be arranged at buyer’s expense. Your shipper will include a quote for transit insurance. All shipments should be unpacked and checked on delivery and any discrepancies notified to the transit insurer or shipper immediately.

 

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Conditions of Business

 

Guide for Prospective

 

- Sellers

 

- Buyers

 

 

Download Forms

 

 

- Bid form for Singapore Auction

 

- Bid form for Jakarta Auctions

 

- Shipping Instruction Form

 

- Payment Instruction Form