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Terms and Conditions
of Sale

1. Introduction


1.1 These Terms and Conditions govern all auctions conducted by THEFOURTH LIVING AUCTIONS PTY LTD (“Living Auctions”). By participating, all Bidders, Buyers, and Sellers agree to be bound by these Terms.

1.2 These Terms may be amended at any time without prior notice. It is the responsibility of participants to review them regularly.

1.3 Any specific conditions applicable to an auction will be announced before or during the auction or included in the catalogue.


2. Participation and Registration


2.1 Registration Requirements
  • All participants must register before the auction by providing accurate identification and contact details.

  • Registration implies acceptance of these Terms and Conditions.

  • Living Auctions reserves the right to deny registration or revoke bidding privileges at any time.

2.2 Bidding Rights
  • Only registered Bidders are eligible to place bids.

  • Living Auctions may impose bidding limits or request additional verification before allowing participation.


3. Auction Process


3.1 Living Auctions’ Authority
  • Living Auctions has sole discretion to determine bid increments, resolve disputes, and withdraw or reoffer Lots.

3.2 Contract Formation
  • A binding contract is formed when Living Auctions announces the Hammer Price and confirms the Buyer’s paddle number.

3.3 Reserve Prices
  • Lots may be subject to Reserve Prices. If bidding does not meet the Reserve Price, the Lot will remain unsold.

3.4 Disputes
  • Any disputes regarding bids, bidding processes, or Lot allocations will be resolved by Living Auctions, whose decision is final.


4. Connectivity and Technical Issues


4.1 Online auctions depend on reliable internet connectivity, which is beyond Living Auctions’ control. Connectivity issues, firewalls, and technical failures may result in bids not being received or executed on time.

4.2 Bidders using the online platform or any internet-based system do so at their own risk. Living Auctions disclaims liability for losses incurred due to connectivity issues, platform malfunctions, or delays.

4.3 The online platform may experience temporary outages or interruptions. Living Auctions is not responsible for the unavailability or inaccessibility of the platform.


5. Payments


5.1 Payment Obligations
  • Buyers must pay the full amount, including the Hammer Price, Buyer’s Premium, and any applicable VAT, within 72 hours of receiving the invoice.

5.2 Payment Methods
  • Payments must be made via bank transfer or approved card payments (subject to a processing fee).

  • Cheques and cash are not accepted.

5.3 Late Payments
  • Failure to meet payment deadlines may result in cancellation of the sale, legal action, and/or a ban from future auctions.

5.4 Buyer’s Premium
  • The Buyer’s Premium is 15% of the Hammer Price. This rate may increase in 2025.


6. Post-Auction Offers


6.1 Unsold Lots and Offers
  • If a Lot remains unsold during the auction or does not meet its Reserve Price, it may still be available for private sale.

6.2 Offers After the Auction
  • Living Auctions will accept post-auction offers for unsold Lots. These offers will be relayed to the Seller, who retains the right to accept or reject them.

6.3 Commission and Payment
  • Any post-auction sale is subject to the same Buyer’s Premium, Seller’s commission, and applicable fees as during the auction unless otherwise agreed upon.

6.4 Timeframe
  • Unsold Lots will be available for post-auction offers for a limited period after the auction unless otherwise specified.


7. Collection and Shipping


7.1 Collection
  • Purchased Lots must be collected during the times specified by Living Auctions for each auction. Details will be outlined in the auction catalogue or communicated directly to Buyers.

  • Buyers must book a collection slot within the specified timeframe.

7.2 Shipping
  • Buyers may request shipping services via email at auctions@thefourth.co.za. All shipping costs and risks are borne by the Buyer.

7.3 Storage Fees
  • Lots not collected within the specified time may incur storage fees. Living Auctions reserves the right to resell uncollected Lots to recover costs.


8. Condition of Lots


8.1 Inspection
  • All Lots are sold “as is.” Buyers are encouraged to make informed decisions and request a Condition Report before bidding if unsure of the condition.

8.2 Descriptions
  • Catalogue descriptions and images are for informational purposes only and do not constitute guarantees of condition or authenticity.


9. Seller’s Obligations


9.1 Ownership

  • Sellers warrant that they have full legal ownership and authority to sell any consigned Lot.

9.2 Commission and Fees
  • Sellers agree to pay a commission of 15% of the Hammer Price, plus applicable fees. This commission might increase in 2025.

9.3 Unsold Lots
  • Unsold Lots must be collected within 14 days of the auction or re-consigned for sale in a future auction. Storage fees may apply for delays.


10. Buyer’s Obligations


10.1 Responsibility
• Buyers must ensure they have the financial capacity to fulfill payment obligations before bidding.

10.2 Risk and Title Transfer
• Risk transfers to the Buyer once the goods leave Living Auctions’ premises. Title transfers only after full payment.


11. Liability and Indemnity


11.1 Living Auctions’ Liability
  • Living Auctions is not liable for errors, omissions, or technical issues during the auction process.

11.2 Force Majeure
  • Living Auctions is not responsible for delays or cancellations caused by unforeseen events.


12. General Provisions


12.1 Amendments
  • Living Auctions reserves the right to amend these Terms at any time.

12.2 Governing Law
  • These Terms are governed by South African law.

12.3 Severability
  • If any provision of these Terms is deemed invalid, the remaining provisions will remain in full force and effect.


Contact Information


For inquiries, please contact:
Email auctions@thefourth.co.za