Auction Terms & Conditions

 

All bidders at 3A Auction House Auctions acknowledge that they have read these terms and conditions of sale and agree to be bound thereby. If you do not understand any of these terms or conditions, please ask a staff member for clarification before registering.

 

  1. INTRODUCTION

Definitions/Glossary: – The definitions in this section apply to the Terms in this Section as well as the terms in General Conditions of Sale and Special Conditions of Sale:

3A Auction House – means 3A Auction House Limited including but not limited to 3A Auction House who have the conduct of auctions from the rostrum and/or any other authorised representative thereof.

All measurements and sizes – are approximate.

 

All lots – to be sold AS IS, WHERE IS. ALL SALES ARE FINAL.

 

Additional terms and conditions – Any additional terms or conditions of sale, added by auctioneer, shall be announced prior to auction.

 

Each Lot in a 3A Auction House catalogue is offered subject to the Terms and Conditions of Sale as listed on this Website or on the Catalogue and/or Brochure, as supplemented in writing or otherwise by us at any time prior to the sale.

 

Auction – means a public sale in which goods or property are sold to the highest bidder.

Auctioneer – means the company referred to or known as 3A Auction House.

Bid Slip – means the slip to be completed by a potential buyer prior to participating in an auction in conjunction with Registration.

Bidder’s Number – The Number required to be obtained by a Buyer to enable such individual bid on any good(s) and/or lot at the auctions.

 

Buyer – shall mean the maker of the highest bid accepted by 3A Auction House whether on the fall of the hammer (when the Hammer Price is achieved) or by private treaty sale.

Commission Bids – refers to any proxy bidding taking place in relation to any given auction as notified to 3A Auction House, including any proxy bids received up to 15 minutes before the relevant auction.

Contract – means the contract for purchase formed between the Buyer and the Seller once the Hammer Price has been achieved.

Defaulter’s Entry Fee – means the fee to be charged to the relevant party in the case of any good(s) having to be re-auctioned otherwise than due to a fault of 3A Auction House.

Deposit – means the cash (or as otherwise agreed) deposit paid by the potential buyer upon Registration and payment of the Entry Fee.

Goods – includes any goods forming a Lot or Lots as described in the relevant Important Notes and/or Brochure including but not limited to digital, electronic, bespoke, and industrial goods and/or equipment.

Guide Price – The price that something is expected to be sold for in an auction. Although a property may have a guide price this does not necessarily mean it will sell at that price.

Hammer Price shall mean the highest bid accepted by 3A Auction House including any VAT that may be included therein.

Important Notes – means the notes associated with each auction including but not limited to the Health & Safety notes, Legal Documentation, viewing times, payment details, collection times, the amount of the Buyer Premium, VAT chargeable, and any other relevant terms relating to that particular auction and/or sale, and which in all cases are governed by these Terms.

Identification – All purchasers are required to have a Bidder’s Number to bid and shall supply 3A Auction House with their full name, address, telephone number, Copy of Passport, Driver’s License and Utility Bill for verification of information.

 

Lot(s) – means any single Good, group of Goods, or set of Goods sold at 3A Auction House auctions.

Premises – means the premises in which the (3A Auction House) auction is taking place, and, where relevant, the location where the individual Lot and/or Lots under the control of 3A Auction House are stored.

Registration – means all or any one of the following as appropriate: (i) the payment of the Deposit in cash or electronically, or as otherwise notified by 3A Auction House in the relevant Important Notes; and (ii) the presentation of 2 forms of identification acceptable to 3A Auction House when requested; and (iii) the completion and submission of the Bid Slip.

Seller – includes any prospective seller save where the context otherwise requires.

VAT – means Value Added Tax.

Working Day– means any day that 3A Auction House is open to the public for business.

  1. BIDDING AT AUCTION

By Registering to Bid, Bidding, or otherwise purchasing a Lot from 3A Auction House, you agree to be bound by these Terms:

 

Addition to or withdrawal from sale – 3A Auction House reserves the right to withdraw from sale any of the items listed or to sell at this auction items not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the seller will be served, the auctioneer reserves the right to sell all of the items listed in bulk.

 

Minimum bids – may be placed on some items.

 

Refusal of Bids – The auctioneer has the right at its absolute discretion to refuse any bid. The highest bidder shall be the buyer at the hammer price.

 

Dispute between bidders – If any dispute arises between two or more bidders, the auctioneer may decide the same or may immediately put the lot up for sale again, and resell to the highest bidder. The decision of the auctioneer shall be final and absolute.

 

Condition of items sold – The auctioneer shall not be responsible for the correct description, authenticity, genuineness of, estimated selling price of, or defect in any lot, and makes no warranty in connection with same. No allowance will be made or sale set aside on account of any incorrectness, error in cataloguing, or any imperfection not noted. No deduction will be allowed on damaged articles as all goods being exposed for public exhibition are sold “as is” and without recourse.

 

Records – The record of sale kept by the auctioneer will be taken as final in the event of any dispute.

 

Prerequisites To Bid –, you must Register to Bid with us in advance of the sale. In addition to our general registration requirements, we reserve the right to require (a) photo identification; (b) bank references; (c) a credit card; and (d) proof of address and/or utility bill.

 

Assumed Costs and Risks – By Bidding, you understand that any Bid you submit can and may be regarded as the Purchase Price Bid for a particular Lot; accordingly, your Bid constitutes a legally binding agreement to purchase the Lot in accordance with your Bid if accepted by the auctioneer. You agree to assume personal responsibility to pay the Purchase Price Bid, plus the Buyer’s Premium and any additional charges that become due and payable in connection with your purchase of a Lot; and that upon the fall of the Auctioneer’s hammer or other indication by the Auctioneer that bidding has closed for a particular Lot. If your last Bid is the final Purchase Price, you agree to purchase the Lot and assume all risk to such Lot, in addition to any obligations, costs and expenses relating to the lot such as insurance and taxes.

 

Auctioneer Discretion – The Auctioneer has the absolute right and/or discretion, to determine the conduct of any 3A Auction House Auctions sale, including, without limitation, to advance the bidding, to reject any Bid offered, to withdraw any lot, to reoffer and resell any lot, and to resolve any dispute in connection with such sale. In any such case, the judgment of the Auctioneer is final, and shall be binding upon you and all other participants in such sale.

 

Bidding Increments – All 3A Auction House Auction sales Bidding Increments, if any, will be conducted at Auctioneer’s discretion.

 

Reserve – All Lots may be offered subject to a confidential minimum price below which the Lot will not be sold (the “Reserve”). The Auctioneer may open the bidding on any lot below the Reserve by placing a Bid on behalf of the Seller. The Auctioneer may continue to Bid on behalf of the Seller up to the amount of the Reserve, either by placing consecutive Bids or by placing Bids in response to other bidders.

 

Remote Bidding: As a convenience to buyers who cannot be present on the day of a 3A Auction House Auction and have Registered to Bid, we will use reasonable efforts to execute (i) written, properly completed absentee Bids described on our bid forms delivered to us prior to that sale; or (ii) Bids delivered to us via the Internet, whether by properly completed absentee bid forms or, if available, a live bidding service authorized by 3A Auction House. We assume no responsibility for a failure to execute any such Bid, or for errors or omissions made in connection with the execution of any such Bid. If requested and where same is available prior to a 3A Auction House Auction, we will use reasonable efforts to contact the buyer by telephone to enable the buyer to Bid by telephone on the day of the sale, but we assume no responsibility for errors or omissions made in connection with any such arrangement (including without limitation miscommunication of instructions given over the phone or failure to establish a connection prior to a sale). You acknowledge that there may be additional terms and conditions governing the use of any third-party service in connection with Bidding on the Internet, including, but not limited to, those providing for additional charges and fees relating to the execution of such Bids. 3A Auction House has no control over, and assumes no responsibility for, the content, policies, or practices of any third party websites or services. You expressly release 3A Auction House from any and all liability arising from your use of any third-party website or services. Additionally, your dealings with such third party sites, including payment and delivery of goods, and any other terms (such as warranties) are solely between you and such third parties. We encourage you to be aware of, and to read, the terms and conditions and privacy policy of any third-party website or service that you visit.

 

 

 

  1. PAYMENT PROCESS

 

PAYMENT FOR AND COLLECTION OF PURCHASES

 

BUYER’S DUTIES:

You pay buyer costs if your bid results in a Purchase Price Bid (or you agree to pay the purchase price for a Lot as a part of a Sale or Private Sale), you agree to pay the following charges associated with the purchase of such Lot:

 

(i) Hammer Price (for Auction Sales) or Lot purchase Price (for 3A Auction House Sales and Private Sales);

(ii) Buyer’s Premium Fee on Property (for Auction Sales); is currently #150,000.00(One Hundred and Fifty Thousand Naira only). An additional 3% premium will be added to any successful bid accepted thru a third-party online bidding platform.

(iii) Any applicable sales tax, late payment charges, storage fees, Enforcement Costs or other costs, damages or charges assessed in accordance with these Terms (for all sales) ((i) – (iii) collectively, the “Buyer Costs”). All purchases will be subject to state sales tax unless the buyer has provided us with a valid certificate of exemption from such tax.

Price and Payment

  • Immediately following the achievement of the Hammer Price, the Buyer shall follow the appropriate process as notified to the Buyer by 3A Auction House and pay the Deposit of the Hammer Price which is 10% (plus VAT where relevant), and the Buyer Premium (plus VAT where applicable). If the Buyer fails to do so by 5 pm on the next Working Day, or such other time as is specified in the Important Notes, 3A Auction House shall have an absolute discretion to cancel the contract of sale and to retain the Deposit.
  • All required payments are to be settled in full and before removal of the Lot so purchased. Each payment is required to be in Naira (NGN) by way of Bankers Draft, Debit Cards, Cash Deposit or as otherwise specified in the Important Notes or directly by 3A Auction House. All queries in relation to methods of payment must be made to 3A Auction House accounts department and unless otherwise agreed by 3A Auction House, the timing required under these Terms for payment is of the essence, and will under no circumstances be adjusted further to a failure on the part of the Buyer to make the necessary enquiries and preparations in order to pay the Hammer Price.
  • In respect of telegraphic transfers, the remitting bank must include the bidding number (listed on the Bid Slip), the invoice number, and any other reference as shown in the Important Notes, or as otherwise directed by 3A Auction House.
  • All bankers’ drafts will be confirmed with the drawn bank prior to acceptance. Buyers must provide full details of the drawn bank including branch, contact name and telephone number
  • All Lots are sold exclusive of VAT which will be added to the Hammer Price at the prevailing rate (if applicable)

Manner of payment – All lots are to be paid in full by Cash Transfer, MasterCard, Visa, or Debit Card before the close of the auction cycle. The Auctioneer reserves the right to hold merchandise until a buyer’s payment is cleared and reserves the right to not accept a cheque.

 

Sales Tax – All purchases will be subject to prevailing regulatory Sales Tax unless the buyer provides 3A Auction House with a valid tax payment receipt at the time of conclusion of purchase.

 

Removal – shall be at the expense, liability, and risk of the Buyer. 3A Auction House shall not be responsible for goods not removed within the time specified, and shall have the option of removing or reselling at the expense and risk of the Buyer. NO LOT MAY BE TAKEN FROM 3A AUCTION HOUSE AUCTIONS UNTIL CHECKED OUT BY AUCTION STAFF. Pickups for the current auction shall be same day. (This applies to vehicle and general auction sales)

 

Claims – No claims will be allowed after goods are removed from premises.

 

Payment Procedure – You agree to pay all Buyer Costs immediately following our acceptance of the Purchase Price Bid unless other arrangements have been approved by 3A Auction House in advance. If such approval is in effect, 3A Auction House may at its discretion require you to make a nonrefundable down payment on Buyer Costs. All payments must be made in Nigerian Naira, in any of the following acceptable forms of payment:

  • Cash Deposit on Account of 3A Auction House.
  • Visa, MasterCard.
  • Wire Transfers.

 

  1. Entry into Auction

SELLER’S DUTIES

3A Auction House sells as agents for the Seller and as such is not responsible for any default by the Seller. Unless otherwise agreed by 3A Auction House in writing, no Good(s) shall be deemed accepted into any auction unless and until the Seller has produced:-

(I)The Good(s) (to the relevant Premises);

(II)A digital and/or electronic description of the Good(s);

(III)An entry fee, currently a flat entry fee (on Landed Properties only) of N100, 000.00(One Hundred Thousand Naira only), is collected when a Good(s) is entered for auction.

If for any reason, the Good(s) are entered for re-sale subsequent to the initial auction, such entry fee as agreed between the potential seller and 3A Auction House would become void. However at the relevant time would , and for the avoidance of doubt, (otherwise than due to a fault of 3A Auction House), 3A Auction House will be entitled to charge a Defaulters Entry Fee each time the same Good(s) is re-entered for auction);

(IV)All other relevant certificates pertaining to the Good(s) which the Seller is reasonably able to produce upon request.

(V)Unless otherwise agreed, notwithstanding the production of the items listed in the clause above, 3A Auction House has the right to refuse entry of any Good(s) into auction, and to set the entry fee at a reasonable amount deemed appropriate by 3A Auction House.

(VI)The Seller warrants to 3A Auction House and to the Buyer that:

  • The Seller is the true owner of the Good(s) or is properly authorised to sell the Good(s) by the true owner.
  • The Seller is able to transfer a good and marketable title to the Good(s) free from any third party claims;
  • Every representation made by the Seller (in any form) about the Good(s) is wholly accurate and informed, and the Seller acknowledges that such representations will be relied upon by 3A Auction House and the Buyer.
  • The Seller will indemnify 3A Auction House, its servants and agents and the Buyer against any loss or damage suffered by them in consequence of any breach of the warranties set out on the part of the Seller

(VII)Unless previously agreed in writing, 3A Auction House shall remit the proceeds of the sale to the Seller not later than one month after the auction, and following the relevant deductions

(VIII)Where a Seller cancels instructions for auction of a Lot, 3A Auction House reserves the right to charge the Defaulter’s Entry Fee plus 5% of 3A Auction House latest estimate of the auction price of the Lot withdrawn (plus VAT where applicable)

(IX)Where a sale is concluded vide the auction, 3A Auction House will deduct a fee of 5% Auctioneer’s Commission from the initial 10% deposit paid by the Buyer at the close of the Hammer on Auction Day.

(X)Where any Lot fails to sell, 3A Auction House will notify the Seller accordingly. The Seller will make arrangements either to re-offer the good(s) for auction or to collect the Lot, and if such arrangements are not made within 2 Working Days of notification, then the Seller will be responsible for any removal, storage and insurance expenses of the good(s) as notified by 3A Auction House (unless otherwise agreed);

(XI)If after 5 Working Days of notification, then 3A Auction House will have the right to sell the good(s) at public auction without any reserve price and to deduct from the Hammer Price any sum owing to 3A Auction House including removal, storage and insurance expenses, the entry fee in respect of the first auction (together with any VAT chargeable thereon), a Defaulter’s Entry Fee, commission on the second auction and all other reasonable expenses before remitting the balance to the Seller.

 

  1. SECURITY & TITLE

 

Title

 

(I)Title and Risk of Loss Title to a Lot purchased in accordance with these Terms shall not pass to the buyer until 3A Auction House has received the Hammer Price, the Buyer Premium and Costs (including clearance of wire transfers). We reserve the right to delay delivery of or otherwise prevent access to any purchased Lot until we have received all Buyer Costs. Notwithstanding passage of title, risk of loss to a Lot passes immediately to the Buyer upon our acceptance of a Purchase Price Bid because All sales are final.

 

(II)From the delivery of a Lot to the Premises until the Hammer Price in respect of a Lot is reached or the Lot is removed by the Seller (including any time during which the Lot is being tested or demonstrated on the auction premises, or elsewhere) the Lot is at the risk of the Seller, and neither 3A Auction House nor its servants or agents will be responsible for any loss or damage whether caused by negligence or otherwise.

(III)From the time when a Hammer Price is reached in respect of a Lot, a Lot is deemed sold, and notwithstanding clause 3.1 above, it is at the risk of the Buyer from that point onwards.

Security

 

As security for full payment to us of all amounts due from the buyer and prompt collection of your purchased Lots in accordance with these Terms, we retain, and the buyer grants to us, a security interest in any Lot purchased by the buyer in accordance with these Terms (and any proceeds thereof), and in any other property or money of the buyer in our possession or coming into our possession subsequently (“Security Interest”). We may apply any such money or treat any such property in any manner permitted under the Laws of Nigeria and/or any other applicable law. You hereby grant us the right to prepare and file any documents to protect and confirm our Security Interest.

 

  1. Delivery

 

  • Buyer is solely responsible for collection of purchased Lots from 3A Auction House amenities, including making arrangements and paying all costs associated with packing and delivery. We may, as a courtesy to the buyer, based on negotiations provide or arrange packing, shipping or similar logistical services, or refer the buyer to third parties who specialize in these services. Any such services referred, provided or arranged by us are at the buyer’s sole risk and expense and we assume no responsibility for any act or omission of any party in connection with any such service or reference, and we make no representations or warranties regarding such parties or their services. You expressly release 3A Auction House from any and all liability arising from your use of any third-party website or services.

 

 

  1. Storage, Abandonment And Related Charges
  • All purchased good(s) not collected from our facilities by a buyer or a buyer’s authorized agents within twenty-four hours (24 hrs.) following the Sale Date will become subject to storage fees of not less than #5,000.00(Five Thousand Naira only) per day. If a purchased Lot has not been collected from us within twenty-four hours (24 hrs.) after the Sale Date, and where 3A Auction House has not consented to continue to store the Lot, the buyer will be deemed to have defaulted under these Terms, and, in addition to any other remedies we may have at law or equity, we shall be entitled to foreclose on the Security Interest by selling such Lots and using the proceeds from such sale for any purpose (including payment of storage fees and administrative expenses of handling such matter), without any further liability to the buyer. You will agree that this remedy is reasonable in light of the costs 3A Auction House would have incurred to continue to store and process purchased Lots after sale.

 

  1. Breach
  • If a buyer fails to make timely payment as required in these Terms, or breaches any other covenant, representation or warranty in this Agreement, we shall be entitled, in our discretion, to exercise any remedies legally available to us, including, but not limited to, the following:

(i) Cancellation of the sale of the Lot to the non-paying buyer, including the sale of any other Lot to the same buyer (whether or not paid);

(ii) Reselling the Lot, at public or private sale, with or without reserve;

(iii) Retention of all amounts already paid by the buyer to 3A Auction House, which shall constitute a processing and restocking fee (which you acknowledge would be reasonable in light of the costs 3A Auction House would have to incur to process your breach and attempt to re-auction or resell the Lot);

(IV) Rejection of any Bids by the buyer at future auctions;

(V) Setting-off any amounts owed by 3A Auction House to the buyer in satisfaction of unpaid amounts; and/or

(VI) Taking any other action we deem necessary or appropriate under the circumstances.

 

  1. Confession of Judgment
  • If you default on payment of one or more Purchase Price Bids under this Agreement, you hereby authorize any attorney to appear in a court of record and admit judgment against you in favor of 3A Auction House for the payment of such Purchase Price Bids and all related Buyer Costs. Accordingly, the confession of judgment may be without process and for any amount due on this Note including collection costs and reasonable attorneys’ fees. This authorization is in addition to all other remedies available to 3A Auction House.

 

  1. Warranty
  • “As Is”, “Where Is” Except as expressly stated below, each Lot is sold “as is” “where is”, with no representation or warranty of any kind from any party (including 3A Auction House or the consignors of the Lots), express or implied, including warranties of merchantability, fitness for a particular purpose and non-infringement. Because you are responsible for satisfying yourself as to condition or any other matter concerning each purchased Lot, you are advised to personally examine any Lot on which you intend to bid prior to the auction and/or sale. As a courtesy, condition reports for any Lot are available from 3A Auction House prior to the sale, but 3A Auction House assumes no responsibility for errors and/or omissions contained in any such report, a 3A Auction House Catalogue or other description of a Lot that may be available on our website. Any statements made by 3A Auction House with respect to a Lot (whether in a condition report, a 3A Auction House Catalogue or on the 3A Auction House website), whether orally or in writing, are intended as statements of opinion only, are not to be relied upon as statements of fact and do not constitute representations or warranties of any kind.

 

  1. Limit Of Liability –
  • In no event shall 3a auction house be liable to you or any third party for any consequential, exemplary, indirect, special, punitive, incidental or similar damages, whether foreseeable or unforeseeable, regardless of the cause of action on which they are based, even if advised of the possibility of such damages occurring. With respect to any sale of a lot, in no event shall 3a auction house be liable to you or any third party for losses in excess of the purchase price paid by you to 3a auction house for such lot to which the claim relates.

 

  1. Rescission/Voiding of sale by 3A Auction House –
  • If we become aware of an adverse claim of a third party relating to a Lot purchased by you, we may, in our discretion, rescind the sale. Upon notice of our intention to rescind a sale, you will promptly return such Lot to us, at which time we will refund to you the Hammer Price and Buyer’s Premium paid to us by you for such Lot. This refund will represent your sole remedy against us and/or the consignor in case of a rescission of sale under this paragraph, and you agree to waive all other remedies at law or equity with respect to the same. If you do not return such Lot to us in accordance with this paragraph, you agree to indemnify, defend and hold 3A Auction House, its officers, directors, employees, agents and their successors and assigns, harmless from any damages, costs, liabilities or other losses (including Solicitor’s fees) arising as a result of such third party claim.
  1. Copyright Notice
  • We will retain ownership of our intellectual property rights, including, without limitation, rights to the copyrights and trademarks and other images, logos, text, graphics, icons, audio clips, video clips, digital downloads in, and on 3A Auction House website and each 3A Auction House You may not obtain any rights of ownership, use, reproduction or any other therein by virtue of these Terms or purchasing a Lot. You may not use any of our trademarks or service marks in any way without our permission.

 

  1. Severability –
  • If any provision of these Terms is held by any court to be invalid, illegal or unenforceable, the invalid/illegal/unenforceable aspect of such provision shall be disregarded and the remaining Terms enforced in accordance with the original document and in accordance with applicable law.

 

  1. Governing Law –
  • These Terms shall be governed by and interpreted in accordance with the laws of the Federal Republic of Nigeria and, by Registering to Bid or Bidding in any 3A Auction House Auction (whether personally, by telephone or by agent), you agree to submit to the exclusive jurisdiction of the state and federal courts located in Nigeria in connection with any matter related to these Terms, the 3A Auction House Auction or other sale of a Lot to you by 3A Auction House.

 

  1. Expenses –
  • In addition to the foregoing, you agree to pay to 3A Auction House on demand the amount of all expenses paid or incurred by us and the Seller, including Solicitors’ fees and court costs paid or incurred by 3A Auction House in exercising or enforcing any of its rights under applicable law.

 

  1. Basis of Sale –
  • All good(s) are sold ‘as they lie’ with all faults and imperfections and errors of description. The absence to any reference to the condition of a Lot does not imply that the Lot is free from faults, imperfections and restorations. Illustrations in catalogues, digital displays or brochures are for identification only. 3A Auction House will not be held responsible for any damage or defect that has not been notified to the Buyer.

 

  • Buyers must satisfy themselves prior to sale as to the condition of each Lot and should exercise and rely on their own judgment as to whether the Lot accords with its description. Prospective Buyers bid on the understanding that, inevitably, representations or statements by 3A Auction House as to authorship, genuineness, origin, date, age, provenance, or condition involve matters of opinion. Neither 3A Auction House nor our employees or agents nor the Seller accept liability for the correctness of such opinions
  • No warranty (written or oral) or other term (whether express or implied and whether implied by statute, common law, custom or otherwise) as to the age, correctness of any, suitability, fitness for purpose, or satisfactory quality of the Lot is given by 3A Auction House, their servants or agents or by any Seller to any Buyer in respect of any lot, and any express or implied conditions or warranties are excluded to the fullest extent permitted by law. For the avoidance of doubt, the Lots are not sold by sample, and the Buyer shall be deemed to have inspected the Lot(s) he/she buys.

 

  • No oral or written representation made prior to or at the time of sale of any Lot shall be deemed to be a representation of fact and 3A Auction House undertakes no obligation or duty (whether in contract or tort or otherwise) in respect of the accuracy or completeness of any statement or representation made by 3A Auction House or on 3A Auction House’ behalf which is in any way descriptive of any Lot. No such oral or written representations shall be deemed to be incorporated into such sale or to have induced any potential buyer to bid.

 

  • Buyers buy Lots where they lie and are wholly responsible to bring any necessary labor and equipment in order to remove their Lot(s) and shall comply with any directions which may be given by 3A Auction House as to the safe removal of the Lot(s) and in giving due care to other Lots on the Premises and the Premises itself.

 

 

  • These Terms shall become binding on the Seller and Buyer respectively when

(a) The Seller’s Lot is accepted by 3A Auction House to be considered for auction; and

(b) The Buyer completes Registration.

 

  • 3A Auction House has the right to revise and amend these Terms from time to time to reflect changes in market conditions affecting its business, changes in technology, changes in payment methods, changes in relevant laws and regulatory requirements and changes in various systems’ capabilities. Buyers and Sellers will be subject to the policies and terms in force at the time these Terms become binding in accordance with clauses above.

 

  • The Buyer acknowledges that a sale by auction IS NOT a consumer sale for the purposes of the Law and extant Regulations and the Buyer shall not seek to rely upon any conditions or warranties implied thereby or by any other legislation. All lots are sold as Seen with no grading or guarantees and can include used items, salvage, raw returns, ex-display, repossessed and seized goods.

 

  • Any estimates provided in respect of a Lot are only an expression of 3A Auction House’ opinion made on behalf of the Seller of the range where 3A Auction House thinks the Hammer Price for the Lot is likely to fall; it is not an estimate of value. It does not take into account any VAT or Buyer Premium payable. Lots can in fact sell for Hammer Prices below and above the estimate. Any estimate should not be relied on as an indication of the actual selling price or value of a Lot.

 

  • Private treaty sales made under these Terms are deemed to be sales by auction for purposes of consumer legislation.
  1. Gemstones
  • Ordinarily, gemstones may have been subjected to a variety of treatments to enhance their appearance.  Unless stated, buyers should presume coloured stones may well have been exposed to some sort of treatment. In the event that 3A Auction House’ has been given or has obtained certificates for any Lot in the Sale these certificates will be disclosed in the description of the item. Neither 3A Auction House’ nor the Seller accepts any liability for contradictions or differing certificates obtained by Buyers on any Lots subsequent to the Sale.

 

  • It is possible that diamonds have been clarity enhanced. Unless stated buyers should presume diamonds may well have been exposed to some sort of treatment. In the event that 3A Auction House’ has been given or has obtained certificates for any Lot in the Sale these certificates will be disclosed in the description of the item. Neither 3A Auction House’ nor the Seller accepts any liability for contradictions or differing certificates obtained by Buyers on any Lots subsequent to the Sale.

 

  • Estimated Weights – If the weight of a piece of jewellery is included in a description, the stone(s) has been assessed by us within its/their settings, and the stated weight is a statement of our opinion only. This information is given as a guide and Bidders should satisfy themselves with regard to this information as to its accuracy
  1. Conduct of the Auction
  • Without prejudice to any other of their rights set out in these Terms, 3A Auction House has absolute discretion without giving any reason to refuse any bid, to withdraw any Lot before the hammer falls, to divide any Lot, to combine any two or more Lots, or to withdraw any Lot and/or Lots from the auction. 3A Auction House is not bound to accept any offer.

 

  • Potential buyers wishing to participate in an auction must first: (a) View all Lots; and (b) Complete Registration before they will be admitted to participate in any auction.

 

  • The contract of sale between the Seller and a Buyer will be formed once the Hammer Price has been achieved, at which point the Lot shall be deemed sold subject to the provisions stated above.

 

  • For the avoidance of doubt, the parties to the contract of sale of the Lot are the Buyer and the Seller. 3A Auction House is not a party to the contract of sale but acts as the Seller’s agent only and is not liable for any breach thereof by either the Buyer or the Seller.

Immediately after the achievement of the Hammer Price the terms of clause below shall apply:

  • If a potential buyer is unsuccessful in achieving the Hammer Price, they would be unable to recover their full Deposit of 10% from 3A Auction House’ as a fee of 5% would be automatically charged against the deposit as Auctioneer’s Commission. In Such a case, 3A Auction House would keep the balance 5% Deposit against future auctions which the potential buyer may participate in, and make them a registered ‘regular customer’ of 3A Auction House’ provided they adhere to regular requests for identification.
  • Any disputes in relation to the bidding, or following the attainment of the Hammer Price in relation to what bids were made by who shall be referred to 3A Auction House for decision. For the avoidance of doubt, 3A Auction House shall have absolute discretion to cancel the contract of sale and to re-auction the Lot (which is the subject of any dispute) either during the same or a subsequent auction, and, in all cases, 3A Auction House’s decision in respect of any such dispute (for which no justification or reasons shall be required) will be final.
  • In the event that 3A Auction House exercises the discretion to cancel the contract referred to above, neither the original Buyer nor the Seller shall be entitled to rely on the original contract of sale for any purpose whatsoever save that the Buyer shall be entitled to be a “regular customer’ of 3A Auction House.
  • Every bidder shall be deemed to act as principal unless there is in force a written acknowledgment by 3A Auction House that he acts as agent on behalf of a named principal.
  • 3A Auction House shall not in any circumstances be obliged to announce any reserve price
  • 3A Auction House reserves the right to turn away any potential sellers and/or buyers who do not present appropriate identification upon reasonable request.
  • Persons attend auctions at their own risk.
  • Where 3A Auction House conducts a sale on behalf of a Seller who is either a receiver or liquidator of a limited company or trustee in bankruptcy:-
  • The Seller and 3A Auction House on their behalf only sell whatsoever right, title or interest the company or bankrupt may have in any Lot;
  • In the event of a third party proving to have a superior title or right to custody or possession of any Lot, 3A Auction House may rescind the contract of sale and upon return of any Deposit and/or Hammer Price to the Buyer, neither the Seller nor 3A Auction House shall be under any further liability to the Buyer.
  • 3A Auction House shall have the right, at its discretion, to refuse admission to the Premises or attendance at the auctions by any person.
  • The Important Notes and these Terms will be made available to potential buyers on 3A Auction House website, in the relevant catalogue, on request, and will be on display at the Premises.
  1. Buyer’s Duties
  • The Buyer shall at his own expense and risk take away the Lot(s) purchased not later than the following Working Day after the relevant auction in which the Lot was purchased has concluded unless otherwise stated in the Important Notes (but in any event not before payment to 3A Auction House in accordance with clause 22.1 above). If the Buyer fails to do so, the provisions of clause 24.2 below will apply.
  • The Buyer shall fully indemnify and keep indemnified 3A Auction House in the event of any damage or loss caused and/or occasioned to any adjoining or other Lots or to the Premises by their removal of the Lots.
  • The Buyer shall be responsible for any injury to and/or death of any person resulting from the removal of his Lot(s) and shall fully indemnify and keep indemnified, 3A Auction House against any such liability whether or not such injury and/or death was caused by the negligence of the Buyer, his employees or agents
  • The Buyer will be responsible for loss or damage to the Lots purchased from notification of successful bid and neither 3A Auction House nor its servants or agents shall afterwards be responsible for any loss or damage of any kind, whether caused by negligence or otherwise, while any Lot is in their custody or under their control
  • 3A Auction House will not be liable under applicable Health and Safety Regulations, and if required to do so by 3A Auction House the Buyer will provide a written undertaking (in a form acceptable to 3A Auction House) to comply with all duties and obligations in respect of the Lot. 3A Auction House may cancel the contract of sale if the Buyer fails to provide such an undertaking upon request. In this event, 3A Auction House will be entitled to re-auction the Lot at any time.
  • The Buyer shall be responsible for any damage occasioned to any adjoining or other Lots or to the Premises by the removal of their Lot(s) and shall repair the same either before removal of the Lots from the Premises or after such removal as 3A Auction House may desire or shall pay the estimated cost of doing so to be fixed by 3A Auction House whose decision shall be binding on the Buyer.
  • Neither the Seller nor 3A Auction House shall be under any liability and when the Buyer’s attention is drawn to the undertaking given on each Bid Slip at the sale by which the Buyer undertakes to take such reasonable and practical steps as are sufficient to ensure that his purchase will be safe and without risk to all peoples when properly used.
  1. Buyer’s Default

If the Buyer does not honour it’s obligations for payment in any way, 3A Auction House as agents of the Seller shall at its absolute discretion and without prejudice to any other rights it may have, be entitled to exercise one or more of the following rights or remedies:

  • To rescind the contract for sale of the Lot (or any other Lot) sold to the defaulting Buyer at the auction; and
  • To retain the Deposit and to pursue the Buyer directly for all monies owed including damages for breach of contract;
  • To enter the Lot in question to be resold at public auction or private sale, the defaulting Buyer will then pay to 3A Auction House any resulting deficiency in the purchase price at the first auction after deduction of any part payment and addition of resale costs;
  • To remove, store (either at the Premises or elsewhere) and insure the Lot at the expense of the defaulting Buyer;
  • To charge interest at a rate not exceeding 2% per month on the Hammer Price to the extent that it remains unpaid for more than 15 Working Days after the day of the relevant auction;
  • To retain that or any other Lot sold to the same Buyer at the same or any other auction and release it only after payment of the Hammer Price;
  • To reject or ignore any bids made by or on behalf of the defaulting Buyer at any future auction;
  • To apply any proceeds of sale then due or at any time afterwards becoming due to the defaulting Buyer towards settlement of the Hammer Price and to exercise a lien on any property of the defaulting Buyer which is in 3A Auction House possession for any purpose.
  • If the Buyer fails to remove the Lot from the Premises as required (and such failure to remove the Lot is not due to a fault of 3A Auction House) 3A Auction House will have the right to:
  • Re-enter the Lot into auction and charge the Defaulter’s Entry Fee to the Buyer;
  • Charge a one-off administration fee (plus VAT if applicable);
  • Move the Lot (at the risk of the Buyer provided that 3A Auction House will use reasonable care and skill in such a move) to another Premises from that where the Buyer purchased the Lot; and
  • For every calendar day following the day on which the Lot(s) should have been collected from the Premises by the Buyer, the Buyer will incur a daily storage charge plus VAT per Lot stored without exception, and such charge will continue to accrue notwithstanding the transfer of any Lot to an alternative premises by 3A Auction House (and for the avoidance of doubt, 3A Auction House will deduct such charge from the Deposit)
  • When a Lot is re-auctioned pursuant or otherwise in accordance with these Terms as deemed appropriate by 3A Auction House, the proceeds of such re-sale will be applied in the following manner (for the avoidance of doubt, 3A Auction House will only be able to apply the Deposit as against the costs listed below if the re-sale is occurring, and in the case of a resale the Deposit will first be applied as against the costs listed below, followed by the proceeds of the re-sale):
  • The Defaulters Entry Fee on the re-sale which will be charged to the Buyer;
  • Any outstanding storage fees, removal fees, and insurance expenses due;
  • Any sums due under the original contract following the first auctions (together with any VAT chargeable)
  • The balance of the re-sale price, if any, shall be paid to the original Buyer if title in the Lot has passed to him but shall otherwise be paid to the original Seller or, where the Seller’s rights have been transferred to 3A Auction House, shall be retained by 3A Auction House. The original Buyer will remain liable to 3A Auction House and/or the Seller subsequent to the re-sale, save where the proceeds of the re-sale have discharged such liability.
  • For the avoidance of doubt, nothing in these Terms limits 3A Auction House liability, nor, where applicable, the liability of the Buyer or Seller for: (a) death or personal injury caused by negligence; or (b) fraud or fraudulent misrepresentation; or (c) any breach of the obligations; or (d) any other matter for which it would be illegal or unlawful to exclude or attempt to exclude liability.
  1. Data Protection
  • 3A Auction House will only use the personal information provided to them to provide the auction services, or to inform Buyers and Seller about similar services which they provide, unless told by such parties that they do not want to receive this information by communicating such preference change in the applicable communication method provided for such on our website or on receipt of any letters from such parties at our registered offices.
  • The Buyers and Sellers acknowledge and agree that 3A Auction House may pass their details to credit reference agencies
  • With respect to the parties’ rights and obligations under these Terms, such party shall be the Data Controller for information obtained in the course of the auction as permitted under these Terms. To the extent that the Buyer needs access to Personal Data relating to its receipt of the Lot, or a Seller needs access to Personal Data relating to its sale of the Lot, then 3A Auction House shall be the Data Controller and the Buyer (and/or Seller) shall be the Data Processor in respect of such Personal Data.
  • 3A Auction House shall:

(a) Process Personal Data relating to its management (or otherwise) of the auction.

(b)Process Personal Data to the extent, and in such manner, as is necessary for the provision of the auction services and/or its obligations under these Terms or as is required by law or any regulatory body;

(c)Implement appropriate technical and organisational measures to protect Personal Data against unauthorised or unlawful processing and against accidental loss, destruction, damage, alteration or disclosure. These measures shall be appropriate to the harm which might result from unauthorised or unlawful processing or accidental loss, destruction or damage to Personal Data and to the nature of the Personal Data which is to be protected; and

(d) Not perform its obligations hereunder or as otherwise set out in these conditions in such a way as to breach any of its applicable obligations under the Laws of the Federal Republic of Nigeria.

ONLINE TERMS OF PARTICIPATION AND SALE

  • Subject to the following clauses which have precedence over the Terms above, the provisions of all Terms above apply to the sale of Lots made through www.com (the “Website”), and to the extent that such adjustments in practical application of the Terms are warranted by virtue of the electronic medium of participation in any given auction, so such adjustments shall be deemed made so to give full application to all relevant and applicable Terms.
  • All participants in the Website auctions warrant that they are legally capable of entering into binding contracts, and are of the legal age required to purchase any relevant Good(s)
  • Any reference in the above Terms to the Buyer Premium will also, for the purposes of sale/purchases over the Website, include any online Buyer’s fees of which the Buyer will be so notified at the time of Registration
  • In addition, use of the 3A Auction House online bidding platform is at all times subject to the 3A Auction House conditions of website use.
  • During an auction, potential Buyers can bid for a Lot by clicking the “Bid” button. Each bid shall be final and binding as soon as the Bid button is clicked
  • In the event of a tie between a bid placed by a potential Buyer online and any other identical bid(s) it will be at the auctioneer’s discretion as to which bid shall be accepted.
  • Buyers acknowledge that the online auction is a live auction and agree that each bid submitted as provided in these Terms is irrevocable and cannot be amended or corrected, even if submitted in error and notified to 3A Auction House .
  • Buyers are fully liable for all bids submitted via their online bidding account (including the liability to pay in full and on time in accordance with these Terms for any good(s) that is the subject of a successful bid submitted from the Buyer’s account)
  • 3A Auction House provides the online bidding service “as is” and without any warranty or condition, express, implied or statutory. Without limiting the foregoing, we accept no liability for any failures, delays or errors caused by interruptions in the availability of the online bidding service or our website or any errors or defects in their content or functionality, any software and/or hardware defects (whether the potential Buyers or 3A Auction House’) and or any internet connection problems (whether the potential Buyers or 3A Auction House’) and 3A Auction House do not represent or warrant that the 3A Auction House website or online bidding platform will be error free, virus free, or that any defects will be corrected.

VERY IMPORTANT INFORMATION.

 

3A Auction House will charge a “Buyer Premium” on all Lots on the purchase price of the Lot plus VAT. The Buyer Premium will be set out in the Important Notes, and will be a percentage of the Hammer Price which will be charged to the Buyer.

3A Auction House is entitled to deduct the relevant fees from the Hammer Price (plus any VAT chargeable thereon) in respect of each Lot (which may, for the avoidance of doubt, include any commission due, the entry fee due (if not already paid) and any other previously notified fees chargeable), before remitting the proceeds to the Seller

Without prejudice to any other rights of 3A Auction House under these Terms in respect of the charging of commission, entry fees, Buyer Premium, and any other relevant fees, 3A Auction House will be entitled to charge the commission and Buyer Premium in all cases including but not limited to when the Lot is sold in an auction irrespective of whether the contract of sale is later rescinded (save further to an act or omission of 3A Auction House ); if the Lot is sold (or re-sold) by way of private sale on the Premises; if the Lot is re-sold further to the default of the Buyer, or the Seller.

Without prejudice to any of 3A Auction House rights under these Terms, for the avoidance of doubt: 3A Auction House will not be under any obligation to pay any monies to the Seller following the auction until such time as the Buyer remits all monies due in accordance with the Auction Purchase. 3A Auction House will be entitled to deduct from any payment due to the Seller, any amounts owed by the Seller to 3A Auction House which 3A Auction House has obtained prior consent from the Seller to so deduct.

GENERAL

If any court or competent authority decides that any of the provisions of these Terms are invalid, unlawful or unenforceable to any extent, the term will, to that extent only, be severed from the remaining terms, which will continue to be valid to the fullest extent permitted by law

If or to the extent that any of these Terms (as amended from time to time in writing by 3A Auction House are Terms to which any of the provisions of the Laws of the Federal Republic of Nigeria or any subsequent modification or re-enactment thereof apply then such Terms shall be enforceable only to the extent permitted by the law and these Terms shall be construed accordingly.

If 3A Auction House fails, at any time while these Terms are in force, to insist that the Seller and/or Buyer perform their obligations under these Terms, or if 3A Auction House does not exercise any of its rights or remedies under these Terms, that will not mean that 3A Auction House has waived such rights or remedies and will not mean that the Seller and/or Buyer does not have to comply with those obligations. If 3A Auction House do waive a default by the Seller and/or Buyer that will not mean that 3A Auction House will automatically waive any subsequent default by the Seller and/or Buyer. No waiver by 3A Auction House of any of these Terms shall be effective unless 3A Auction House expressly says that it is a waiver and 3A Auction House tell the Buyer and Seller so in writing.

A person who is not party to these Terms shall not have any rights under or in connection with them.

Lots in our auctions that have been physically de-branded/de-badged are to remain de-branded. No original trademarks, web images, vendor/clients logos or other intellectual property may be copied or used by the winning bidder without prior written consent. Any customers in breach risk permanent exclusion from auctions and salerooms.

These Terms shall be governed by the Laws of the Federation of Nigeria 2004 and 3A Auction House, the Seller and the Buyer all agree to the exclusive jurisdiction of the Nigerian courts.